Texas man charged with running $60M Bitcoin Ponzi scheme

Re:Texas man charged with running $60M Bitcoin Ponzi scheme by Cthulhu_ on Wednesday July 24, 2013 @03:24AM (#6094891)

So why does the title indicate it's a $60M scheme when the value of it is in bitcoins?

Unless, of course, bitcoins themselves have no intrinsic value of their own, and are only worth something when converted to USD.

Which they are, outside of a few small-scale incentives.

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Re:Texas man charged with running $60M Bitcoin Ponzi scheme by rmc on Wednesday July 24, 2013 @03:30AM (#6094912)

The title used USD because it's a newspaper that is trying to communicate the news to people, and is avoiding the jargon that night not be widely understood. Don't read too much into it.

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Re:Texas man charged with running $60M Bitcoin Ponzi scheme by ramchip on Wednesday July 24, 2013 @06:06AM (#6095264)

Newspapers can report a Japanese company's profits in USD, but that doesn't mean yen are devoid of value…

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