Can you be more specific please?
You made the analogy to burning dollars. This is obviously a very poor analogy. We can always print more dollars unless you also destroy all the ink in the world, and all the printing presses. Not to mention the fact that only a small fraction of dollars actually exist in physical form. In fact, if I burn a billion dollars, that may theoretically impact the economy in a positive way, since commissioning the printing of a billion dollars in cash will create economic growth.
Does the answer to the hypothetical sabotage lie in creating a new blockchain, or Bitcoin 2.0?
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I will be delighted if it turns out my hypothesis is incorrect.
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well, the idea is totally absurd. it's like saying "let's buy all the gold in the world, and blast it into space!"
If an exchange attacker could hijack a lot of coins at once (totally absurd, right?) this could quite conceivably happen. Don't make it sound like its horrendously expensive to destroy the only link to the hypothetically hijacked coins. It isn't. Its called a hard drive shredder. Please answer my question. I sincerely want to know the answer.
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How will fractional transactions be expressed if such a sabatoge took place?
Seems cumbersome to ask for 10^-8.002345 coins as payment for a product or service.
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Is it possible to sabotage Bitcoin by accumulating coins (through purchase, theft, or exchange breach, etc.) and then deliberately destroy the wallet that contains the key to these coins?
Presumably these coins are henceforth lost, essentially.
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Personally I am planning on cashing out my coins as soon as MtGox is back online. It's gonna be a fucking bun fight. I don't care if I only get a few USD per coin because this shit is going down like a sinking ship and I advise you to do the same. Would you be polishing the brass on the Titanic as it crashed and burned? I don't think so. Thanks in advance for this buying opportunity. Also, thanks in advance for enabling me to take profits at $30.
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it would almost be comforting to think that there are secret groups so competent that they could control the world.
Really? You're comforted by the thought of any man or small group of men at the reins of humanity's destination? It scares the crap out of me. Ya know, history is all written down.
That statement has a huge problem. It implies that someone knows all of history, and has read and verified all historical texts. the truth is easy to find.
Not true.
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As far as I'm concerned there is no such thing as stolen bitcoins...
I mean what exactly is it that's stolen? It's a number that represents an amount of computational power.
What happened may be illegal but it's not theft, maybe fraud from the hacker for selling in somebody elses name.
According to your argument, electronic bank fraud is not theft. After all its a number that represents an amount of economic, political, and military power.
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I just spoke to Jason from Newegg.com and redirected him to this thread, He said he remembers the conversation with you and will Roll-back the refunds Wow Synaptic, you can't seem to catch a break. Your constant negativity must be coming full circle. Enjoy.
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There's NO WAY to rectify this mess you've gotten into without screwing someone. And despite the decentralized, anarcho-capitalist philosophy underlying this experiment that you all jerk off to at night, you are all scream for litigation.
Just look at yourselves!
Did you imagine that decentralization of power leads to an vacuum of legality, or perhaps a crime-free utopia? Silly boy.
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I don't see how anyone can read the OP and think KD has a case for keeping his money. Based on his owns words, I think he should be going to prison. Compare what he did to what Martha Stewart did. Do we know where he lives? American DA's freakin' love to take on cases that will be big in the news.
what exactly did martha stewart do? it sure as shit wasn't commit any actual crimes. What was she convicted of then? Trafficking in bad cooking advice?
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Honestly, I think you should just keep the coins. I personally was sleeping when the crash happened, but as a matter of principle I don't think actual BTC transactions should be reversed once finalized in the chain. Reversing the trades on MtGox's servers, though, is up to the owners, as there aren't actual BTC transactions being added to the chain.
MtGox screwed up though, and they should take the loss.
What would be honest about that?
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Executive summary:
1.) "I took advantage of an extraordinary event that turned out to be initiated by a rogue sell order, not legitimate trading."
2.) "Can I keep it? Look, here's why."
No, sorry. To allow the trade to stand would legitimize the attack, is that what you really want? (Besides bitcoins and dollars, I mean.)
+ 1,000
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Fortunately I disposed of all 10 of them on Mt. Gox just last night on a hunch that some kinda shit was going to happen.
I'm pretty insightful that way.
Cheers.
My bullshit detector is going crazy right now.
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Not sure why people seem shocked/upset.
Greed.
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Please. The SEC together with the Feds has been deregulating for years. This is why the housing market bubbled.
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That's why I did not even bother to start mining namecoins . It was obvious that arbitragers will even thing out quickly and it is so much simpler to just continue mining bitcoins than mess with all the namecoin thing (unless you really want those namecoins).
Its so easy though. It took me a little time tinkering to get solo mining working (pool mining is much easier). But really, you can switch between namecoin mining and BTC in literally 2 seconds. There's nothing to it. And I'm just your average nerd, not major geek.
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