Stolen Bitcoins

[QuantumQrack]

Can somebody enlighten me here:

I have heard that stolen bitcoins are not allowed to process further in the blockchain, i.e. they are rejected.  Is this true, or ring true for anybody?

Quantum

[1714944418]

1714944418

[tbcoin]

Completely false

[hazek]

Any Bitcoin transaction virtually can't be stopped or blocked.

[QuantumQrack]

Thanks for the answers. 

[QuantumQrack]

Another question then: 

Are there bitcoin based businesses out there that reject stolen bitcoins?  Are they like blackmarked?

Quantum

[hazek]

There is no such thing as stolen bitcoins. There are only allegedly stolen bitcoins and even those are not so anymore after a few transactions because it's impossible to know if they are still in the hands of the alleged thief.

[MysteryMiner]

I have heard that stolen bitcoins are not allowed to process further in the blockchain, i.e. they are rejected.

This is not true at all. Somebody made fun from You.

Are there bitcoin based businesses out there that reject stolen bitcoins?  Are they like blackmarked?

Some businesses are known in some time in past to keep and not release coins they consider "tainted". Mt.Gox are prime example on this. And there are nolifers who follow transactions down to blockchain wasting their time in a hope to catch the thief.

If You need assistance for properly laundering your coins so they will be accepted as clean by all exchanges then I will do it for very small fee.

[QuantumQrack]

That isnt why I am asking.  I am asking because if there is a mechanism to reject bitcoins, and that mechanism is controlled by popular vote or whatever, the bitcoins are useless as a non-centralized currency.

[hazek]

That isnt why I am asking.  I am asking because if there is a mechanism to reject bitcoins, and that mechanism is controlled by popular vote or whatever, the bitcoins are useless as a non-centralized currency.

Let me repeat: Any Bitcoin transaction virtually can't be stopped or blocked.

[sgravina]

That isnt why I am asking.  I am asking because if there is a mechanism to reject bitcoins, and that mechanism is controlled by popular vote or whatever, the bitcoins are useless as a non-centralized currency.

It's true.  You can transfer bitcoins to an address and nobody can prevent it.  Neither that address nor it's owner nor the whole bitcoin network can prevent the transfer.  Even if the address doesn't exist you can force bitcoins to it.  In that case the bitcoins become lost, never to be transferred again.

[Foxpup]

That isnt why I am asking.  I am asking because if there is a mechanism to reject bitcoins, and that mechanism is controlled by popular vote or whatever, the bitcoins are useless as a non-centralized currency.

It is impossible to reject coins under circumstances except double-spending (ie, trying to re-spend a coin that you already spent and no longer own), or rather, it is impossible to prevent other people from sending coins (regardless of their origin) to you. All proposols to prevent "tainted" bitcoins from circulating fall down on this point.

For example, suppose you receive a bitcoin that you believe to be stolen. What then? You can't keep it while refusing to accept it as payment as you would with a counterfiet $100 bill, since the bitcoin in question is provably not counterfeit and absolutely genuine in every way. You also can't send it back since it is impossible to know whether the sending address actually belongs to the person to sent it (if they were using an online wallet for example, the address would belong to wallet provider, and not the individual who sent the coins). There is literally nothing you can do about it except accept the tainted bitcoin as valid payment.

[chedder]

I have heard that stolen bitcoins are not allowed to process further in the blockchain, i.e. they are rejected.

This is not true at all. Somebody made fun from You.

Are there bitcoin based businesses out there that reject stolen bitcoins?  Are they like blackmarked?

Some businesses are known in some time in past to keep and not release coins they consider "tainted". Mt.Gox are prime example on this. And there are nolifers who follow transactions down to blockchain wasting their time in a hope to catch the thief.

If You need assistance for properly laundering your coins so they will be accepted as clean by all exchanges then I will do it for very small fee.

http://www.bitcoinfog.com/ lol small fee

[pgibson]

Some businesses are known in some time in past to keep and not release coins they consider "tainted". Mt.Gox are prime example on this. And there are nolifers who follow transactions down to blockchain wasting their time in a hope to catch the thief.

This is what I was refering to when I had suggested there are merchants who will blacklist (more appropriately called deny service as in DOS) in the freenode IRC (as NaruFGT).

As I said multiple times before, this is in the long run, ineffective. It only matters because for some theft, it will incur latency and overhead for the person trying to spend those coins.

-----BEGIN PGP MESSAGE-----
Version: GnuPG v1.4.12 (GNU/Linux)
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=uaWf
-----END PGP MESSAGE-----