Bitcoin Forum

Wozniak said,
“I had seven bitcoins stolen from me through fraud,”
Now at $70000 market price rate. (Source - CNBC)
It is really shocking.
Will it effect on bitcoin market?

I think when he said it was stolen, it would still be on the network, probably somewhere. It could do something to the trading market but we will never know unless we see it.
Right now it's a lot and hopefully, it would be back to the owner, but knowing Bitcoin transactions, it cannot be undone unless the culprit is caught.

Exchanges get hacked and bitcoins worth millions of dollars get stolen. Bitcoin shows resilience and bounces back. What do you think will be the impact of seven bitcoins getting stolen?
If you are talking about the impact of this news on market sentiment, there won't be any. People have come to accept the fact that bitcoins can be stolen if  you are not careful. And frauds are prevalent even in fiat currency, if you don't do your due diligence. So it is unlikely that this news will have a substantial impact on market sentiment as well.

7 bitcoins are nothing to affect the market

I do not think that it will have some effect on the market. He mentioned that he was a victim of fraud. I hope you have some link it will be an interesting read.

Anyways a computer genius like Wozniak the real inventor of Mac, was a victim of fraud/scam. People should be more vigilant because this fraudsters are getting creative everyday to take our coins.

May be he use own mac book or iphone with malware..
$70000 is not low amount for any  :o
Need use paper wallet!

7 bitcoin has no effect on bitcoin market. If its 700,000 thousand it might be. Remember that the total supply of bitcoin is 21 million only. there are already 3 million missing bitcoin because of forgotten private keys. another 1 million from satoshi nakatomo wallet that never been touched. in total there will be only  17 million bitcoins around the world. Our population is 7.6 billion. imagine if 50% of the people bought bitcoins. What will be the bitcoin price then'?

7 bitcoin is a very huge amount. I think bitcoin price will fall 20%-30% in the next couple of days.
if it was 10 bitcoin more - we could say that bitcoin era is over.

The statistic presents the total number of Bitcoins in circulation from first quarter of 2011 to fourth quarter of 2017. The number of Bitcoins has been growing since the creation of this virtual currency in 2009 and reached approximately 16.78 million in December 2017. Those 7 would relate to .00004% of the total Bitcoin and will a a minimal effect. The focus should be with the news and how part it spread. This kind of negative news might have a great impact especially in investor.

This is the link since you don't have clickable source
http://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-latest-steve-wozniak-apple-stolen-cryptocurrency-scammers-hacking-mining-a8230801.html

I have watched this news on CNBC crypto facebook page and this will not stop him on supporting crypto.

I don't think it will affect the market. Well, at least not in a big way. People have been known to lose bitcoins for some time. It really is worrisome since Steve Wozniak is a brilliant guy. Someone as tech savvy as him to lose coins might ward off some new comers, but I don't see this hitting big news. People in the past have lost even more.

Interesting he use windows or mac os and how btc's was stolen ?
hacked their laptop ?
some one say there  what apple os safe ?

I believe it was credit card fraud. Someone reversed the cc transaction on him.

I have read that he sold the coins and the buyer used a stolen credit card to pay for them.
After Wozniak sent the coins, the dollar payment that was sent by credit card was aborted.
Coins gone, dollars never received. Kind of bad luck, but actually not a very safe way to sell coins.
I suppose that Wozniak does not depend on those 70K, because he still has about 100 million dollars left.

Yep.  That is the end.  Nobody is going to want this crap if Steve lost his.

Steve was famous and technical expert yet falls for scam/fraud. It is said the the fraud is just a simple trick but he fells to it? We can think it is true that he lost 7 btc but the way he was scam i'm not truly agree to it. It is also said that he invested for Bitcoin for only experiment so he doesn't care about 7 btc stolen from him. This will affect bitcoin community and value but it will just pass by, Bitcoin will continue its growth. Just continue doing work with Bitcoins and know more from time to time ;)

if you want to read more about the news, here's a clickable source: https://www.marketwatch.com/story/steve-wozniak-had-70000-in-bitcoin-stolen-after-falling-for-a-simple-yet-perfect-scam-2018-02-28

Seven bitcoins isnt enough to do an impact on the market, but what might is the statement itself by Steve Wozniak. As a respectable guy in the tech world, people listen to him. He is right, there are so many frauds in the crypto community. We have to help each other by reporting fraudulent interactions and transactions. I do appreciate that he is an advocate for crypto, though.

that is true.
and it is a strange story at best. because first of all he claims he was selling bitcoin off the market to some random dude using a reversible method which is the most famous method of fraud: credit cards.
the first question is why was he doing this? why not use an exchange like Coinbase/Gdax to sell his coins? was he evading taxes?
the second question is why is he now talking about it? usually when people trade off the market and p2p they don't want any traces be left from them, that is why I think it was tax evasion, in which case why is he now talking about it?!!!

I don't think it would affect a bit. as the reason is fraud - it could happen to anybody or anyone, also, exchanges get hacked, too. It has nothing to do with Bitcoin and crypto community.

It is very difficult (or rather impossible) for such an event to affect the market in any way.
And these BTCs are still in the system, they just changed their owner.  ;D

7 Bitcoins won`t affect the market. 1000 bitcoins can.

Yaa, Now I am thinking also.
Seven bitcoin is a little bit. It just hacked maybe. People faced as usual this problem.
Sometimes hacker attack a big. One of my friend lost 10 Ethereum some days ago of Etherdelta hack issue.

No matter how strong his words are and even a lost number of Bitcoins it will not have a huge impact at all. He made some dumb mistake and get robbed.
Many people lost their Bitcoins because of frauds so what. Be careful.

Exactly my thoughts. Why is he just talking about it? What's his real intention to speak out right now? And far as I know, he didn't know a single thing about bitcoin and crypto and maybe he just want to ride the waves and testing the technology behind it that's why he did the most stupidest and lack of common sense to trade with someone with credit card. I'm sure that the lack of knowledge causes him to lost it. But he is bitching and crying like a kid stole a lollipop on him. I doubt though about the tax evasion, maybe his real intention is to play around with it and see how it goes.

Do you really think this is true? Steve Wozniak is not some noobie who has no idea about Computers. I think if hes really into cryptocurrencies, he would know thats it will not safe to store your coins on a exchange. Escpecially when they are so many bitcoins with such a high value. Wheres the source of this news? I think thats just some FUD news from mainstream media to make the image of bitcoin and cryptocurrencies worse!

great point on that mate,though Wozniak is the co founder of the most secured gadget in the world in which Apple company,this doesn't mean hes safe from hackers,since our bitcoins are stored in our wallets or exchanges that is open for hackers if we will not took care of our funds.and the walletsor the exchanges itself

What a news, again Steve Wozniak and his story about BTC.This time he even failed to sold them,and somebody thinks that this can have any effect on markets,come on, be a little serious-it is only 7 BTC. Besides that what is 70 000$ for a man who have more than 100 million $,almost nothing.Would you feel bad if someone cheats you for 7 $,is this be story for the headlines?

Creating a fuss about 7 btc is a pure waste of time in its entirety. Over the years several millions of money have been lost due to hacking, greediness, scam ICO, intentional sabotage, scam gambling etc. yet the market is still standing to now start crying over $70000 is even annoying. Also, we cannot say he lost $70,000 because that is at today and not when the scam activity occurred the real value of what he lost is the value bitcoin was trading on that day. So, you should stop and I am sure he himself is not bothered but because the media always want to give everyone something to talk about, they tend to over stretch issues that should just die a natural death like this.

Not that I am condoning what happened to Steve, but he is estimated to have a net worth of $100 million. That $70,000 will

be back in his account within a few days, if he received only modest interest on his investments. If you follow the article, you

would also not have blamed Bitcoin. The problem started when the Credit card transaction fell through.  ;)

$70.000 for Wozniak is like $1 for me.
What are we talking bout? Today he's lost $70.000, tomorrow he's get $170.000
Funny!

Yes, It is a little amount in the market. But Binance hack issue affect something for the crypto market. Btc and ETH market so down. It is very difficult to back previous value of all coin. Need extra time. maybe 4-5 month I think.

is this really even worth a mention?

The market has nothing to do with his stolen 7 btc, literally. Unless, he said good or bad thing about bitcoin then it would affect the market considering he is famous figure in the technology industry.

It probably will not have any impact on the market. This is a small amount. If it can have some impact, it's more psychological that Wozniak was stolen bitcoins.