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Something to think about since the topic of Bitcoins and altcoins is hot at the moment.
Here's the story. I sold a domain to a fella that had $700 worth of Namecoin and wanted to transfer it to me for the domain. So I agreed and I had the coins transferred to an account on the Bitcion exchange: http://btc-e.com.
So I used the $700 in namecoin to buy and sell other coins..etc on my BTC-E account for about 6 months. This lead to a profit of $2300. So my BTC-E balance was now $3000.
Well in one swift move last week the balance is now ZERO. The United States of America seized the domain name btc-e.com and all their assets. Odds of getting money back is Zero to none.
Well chalk that up to another lesson learned in the crypto coin industry. One more check off of that bucket list of mine!
Here's the story. I sold a domain to a fella that had $700 worth of Namecoin and wanted to transfer it to me for the domain. So I agreed and I had the coins transferred to an account on the Bitcion exchange: http://btc-e.com.
So I used the $700 in namecoin to buy and sell other coins..etc on my BTC-E account for about 6 months. This lead to a profit of $2300. So my BTC-E balance was now $3000.
Well in one swift move last week the balance is now ZERO. The United States of America seized the domain name btc-e.com and all their assets. Odds of getting money back is Zero to none.
Well chalk that up to another lesson learned in the crypto coin industry. One more check off of that bucket list of mine!
