This will have future implications of existing exchanges should this happen.

I can see Govt's getting involved to "regulate" say Poloniex to try to stop this from happening.

Problem is that there are other services that exist to facilitate this method of washing coins, and if those ever got shut down there would be some other avenue to do so.

It's a matter of time before the usage of monero in that manner is taken advantage of.

Right now monero is not really on the radar, at least not yet.


Edit: If polo or an exchange tracking the hacked coins decided to block those coins from being deposited and converted to say XMR, those implications would be interesting to see unfold. I would expect a hacker to deposit in different places utilizing shapeshift.io and xmr.to.

I reckon that it would be difficult to block all avenues to "wash" coins from a hack in this manner. But then again it is something to watch for in the future given the technology that XMR has let out of the genie bottle.

but this all remains to be seen.

Proceeds have been sent to an address that Minerjones controls. 

Good thing you are your own friend 

McTapper gonna tap out again.

Love your comment. Definitely something to make a meme about given ETH forking and bitfinex getting hacked.

 

1. Theory != Proof....personally I dont spend much time on theories especially ones that may not materialize in 50 years.

2. 50 years most of us on this forum will likely be dead or in very old age. The topic may not even be of interest to us anymore.

3. No one knows what other unforeseen technology/market/etc will come about.

No one knew the internet would be born in the late 20th century, and no one really knew that Bitcoin (in its current form) would exist back then either.

It's difficult to predict these things so theories that take multiple decades to materialize may (to me at least) be irrelevant given our limited life span on earth.

It wouldn't surprise me a bit if this was just finding a local bottom in forming another ascending pennant/triangle in the price.

I've found sanity in not looking at the price charts all day every day. Taking a peek from time to time is healthy.

Probably not the best word to describe it...I can't imagine a thief being selective of who they want to and dont want to steal from on an exchange.

Perhaps the word "limited" might work better to describe it.

Got a link to support your statement?

A peg is definitely useful. No argument there.

My point is that if 90-99% of users buying and selling bitcoin kept their funds off the exchange (which is possible), there would be that much less losses when thefts like this occur.

The bigger picture has merit, but you would need to acknowledge it to see it.

There have been numerous exchange hacks...and the same result has happened...bitcoin lives on. So far it has...

Wait 2 weeks, 6 months, or a year and see how much this hack is talked about.

News operates emotionally like how the markets react when big price swings happen, they oscillate with large gyrations and continue to oscillate with smaller and smaller ones until there is somewhat of a "equilibrium".

Then it is just waiting for the next catalyst to spark movement in the market.

The same is true for people's awareness and acknowledgement of news (like hacks etc) the emotions and buzz around the discussion is very very intense and over time it smooths out and reaches an equilibrium where little to no discussion happens much.

This is the trend I've noticed for some time now.

This ^ is an example of SHORT-TERM NOISE.

As of today there is no working available version of a quantum computer. Just like how back in 1985 there was no working version of a time traveling Dolorian in the Movie Back to the Future.

And still today there is no publicly known version available either.

To make such predictions with no real links/facts/proof is hogwash and more SHORT-TERM NOISE.

So then you clearly support the establishment in how they operate (i.e. bail outs)?

In the free market there is no such thing as a bail out. Your mindset is a product of how the system has conditioned you into a specific way of thinking.

If your measure of bitcoin is in fiat (and only in fiat) then perhaps you missed the whole point of what bitcoin was created for.

This price move is just SHORT-TERM NOISE in the big picture.

You forgot to mention another set of bitcoin obituaries to come.

If only users would heed the history of previous exchange hacks there would be much less bitcoin stolen in these events.

It appears to be a conditioning that many are accustomed to (storing their funds with a "trusted" 3rd party).

May as well just use the legacy banking system if you're going to do that.

This is the winning bid.

Please send me all of your info as outlined in the main post.

Thank you to all who bid on this charity auction for minerjones.

This auction is now closed.

I tend to think it wont happen for any prolonged period ever. If it happens it would be a flash crash.

No I'm not. But you are welcome to.

My point has nothing to do with my investing in ETC.

lol well that's one way to get higher bids by insulting the bidders.

I know you were just joking...just a funny thought. 

Yes accepting monero for goods or services will add to its perceived utility. It is a self-feeding cycle.

Theft != truth.

Would it be theft if Vitalik Buterin put an open brief case of cash on a dark street corner and someone who found it decided to keep it?

Very useful.

Nice find.