Thanks I respect yours also. No, I'm just saying for big thefts like the one's that have been happening I think there would be a big consensus in favor of disabling $87,000 worth of bitcoin. Yes, I don't know all the logistics of how it would play out but I'm pretty sure we are all smart enough to figure it out. Ok say I buy 20,000 BTC worth of Gold from you. I pay you, you get the 6 confirms. I walk away with my ~$100K in gold. Then I report the coins stolen. Oops you lose 20K BTC. Even better I cal you up and threaten to report them stolen. If you give me back 5K BTC I won't report them stolen. You lose 5K or you lose 20K. Your choice. Worse say I did steal 20K BTC. I then buy some gold form you. Nobody has reported them stolen ... yet. I pay you, you get the 6 confirms. I walk away with $100K in gold and then the original legit owner of the coins reports them stolen. I stole the coins and lost nothing. The owner is still out 20K coins and you are out $100K in gold. Awesome system you got there. Also there is no central agency in Bitcoin. Who decides if a coin is disabled or not? Someone with 51% of hashing power. Awesome you just gave the govt an auto kill switch. Gain 51% control of Bitcoin (even temporarily) and disable all 21M coins. Game Over. You are assuming this is just for "anyone" to take advantage of ( maybe, a bitcoin business has to pay into this ) . No, I'm talking about the big business's where it clearly stolen and we know that is based on who the business is - are you saying someone legitimately withdrew 18,000 bitcoins ? In this case, yes Bitcoinica can say yes they were stolen and who is going to doubt them? - are you saying they would be pulling a fast one ? I'd rather have system like this then having bitcoins ripped off left and right I mean like someone mentioned there is going to be more stolen bitcoins then there is legitimate bitcoins are the rate we are going  |
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Another thing I was just thinking since Mt.Gox blacklists "tainted funds" - they should go ahead and entertain the person to send their coins "to cash" out but never cash them out thus retrieving the coins again ?
What ...  lol....meaning mt.gox should let them send them their coins to "Cash out" but in reality never "Cash out" thus keeping the coins. better? |
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Another thing I was just thinking since Mt.Gox blacklists "tainted funds" - they should go ahead and entertain the person to send their coins "to cash" out but never cash them out thus retrieving the coins again ?
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I assume you meant to quote me. Well, start 'disabling' coins if you can. BTC is a fiat currency. Its sole value is what people believe they are worth. If they can be 'disabled', they are pretty worthless. Imagine going to a store and handing a dollar to a clerk who tells you: "Sorry your dollar has been disabled." Do you have another? Oh, that one is disabled too.
But meh... go ahead and disable them. Oh, damn wait, I can't short at Bitcoinica.
yes, it was for you. I believe more people would be willing to get into if you were to tell them that hackers and thiefs don't bother with bitcoin because if you "steal" them they become worthless . This mindset has value and I would be more willing to put more money into bitcoins knowing that its worthless for a hackers to even bother with bitcoin ? just my 2 cents. Ok, I'll respect your position. Although I completely disagree with it. So you would put more money into BTC if 'Someone?' could disable them if they are 'stolen'. Who determines if they are to be disabled? What are the standards to determine if they are stolen? It would become one big cluster @#*$ really soon with false claims of coins being stolen. And then people not trusting the people that can 'disable' the coins. I understand your fear. Fear the fear tho... Thanks I respect yours also. No, I'm just saying for big thefts like the one's that have been happening I think there would be a big consensus in favor of disabling $87,000 worth of bitcoin. Yes, I don't know all the logistics of how it would play out but I'm pretty sure we are all smart enough to figure it out. edit: keep in mind if we had this mindset early on we wouldn't even be talking about $87,000 worth of bitcoin being stolen they most likely would be where they were before being stolen if we made it clear bitcoins couldn't be stolen and sold for their value to the would-be-thief. Also, the way it now its a big #@#@ . I'd rather have the would-be-thief get burned then to enjoy his or her bitcoins. |
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I assume you meant to quote me. Well, start 'disabling' coins if you can. BTC is a fiat currency. Its sole value is what people believe they are worth. If they can be 'disabled', they are pretty worthless. Imagine going to a store and handing a dollar to a clerk who tells you: "Sorry your dollar has been disabled." Do you have another? Oh, that one is disabled too.
But meh... go ahead and disable them. Oh, damn wait, I can't short at Bitcoinica.
yes, it was for you. I believe more people would be willing to get into if you were to tell them that hackers and thiefs don't bother with bitcoin because if you "steal" them they become worthless . This mindset has value and I would be more willing to put more money into bitcoins knowing that its worthless for a hackers to even bother with bitcoin ? just my 2 cents. |
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I haven't been a great fan of Bitcoinica in the past. The service introduced, at times, great volatility into bitcoin's price and I felt bitcoin itself was too immature to sustain a leveraged short selling system.
Speculation in general and Bitcoinica in particular reduce volatility. Bitcoinica going away will not make things more stable, but will have the opposite effect. Thankfully Kronos.io arrives just in time. what is kronos.io |
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Why can't they just "disable" stolen bitcoins. I mean we are in the 21st century we should use the digital aspect of this to our advantage yes? this would also raise the value of bitcoins if we can say "stolen proof" also  And who decides what coins should be disabled? And who makes sure that those people in charge aren't corrupted or influenced? And how do they enforce it, and how could others be prevented from exploiting it? how would they go to zero?? There has never been a currency that can claim being "stolen proof" that would only raise the value of using bitcoin not make it zero. More reason to get in = more value.. |
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Why can't they just "disable" stolen bitcoins. I mean we are in the 21st century we should use the digital aspect of this to our advantage yes? this would also raise the value of bitcoins if we can say "stolen proof" also |
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As I suspected I never got my coins ...been a few days now 1 day ...  are you just wasting peoples time or what ? |
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I'm tell you guys, this stuff is going to be the end of bitcoin.
You might be right yikes! :/ |
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thanks for sharing dude, still reading...  Very welcome...It's absolutely amazing read... |
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He's still 17? People don't age in Asia?
Well, they most certainly don't grow.  we call them "little people" .....lol |
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lame comment is lame
In other words, you sir are a fool. yet, right  |
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lame comment is lame
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this is what happens when a 17 yr. old runs a 50k per month venture .... a little bit of experience goes a long way wouldn't you say?
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He's the alleged My Bitcoin "Tom Williams" who stole everyone's BTC.
This is correct. |
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At least there needs to be (i) a reimbursement and (ii) heightened security measures implemented in the near future.[/color]
Zhoutong's wording make me doubt they can afford it. It's probably the end of Bitcoinica. They might as well cash out. I believe this is the end to Bitcoinica. Who in their right mind would do any business with them :/ Meanwhile ...bitcoin is crashing lol ....time to sell! |
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Sounds like u got ZHOU TONGED
this ^^ |
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