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Author Topic: [IDEA] Blockchain 51% Commission  (Read 284 times)
krack-r
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March 01, 2017, 06:48:18 AM
 #1

Hi bitcoiners,

Commission might sound weird but in this case it's appropriate.
I don't know about you, but I've been scammed out of bitcoins many times during the years.
I've lost more than 10,000 EUR for the last 5 years to scammers - either theft or transaction reversals.
Every time I start to get ahead someone steals or reverses transactions with me and I end up losing my hard earned bitcoins or cash, depending on the transaction.

This is because scammers think that Bitcoin is irreversible.
Actually - it is! With a 51% attack - requiring a lot of hash power.

I say we, the bitcointalk users, speak in person with representatives from blockchain to unite force and with enough evidence be able to get the coins money back from thieves and back to the rightful owners.

I propose a commission to be created from moderators, notable users, scam victims here and to investigate every payment reversal. If enough evidence is found - we just inform blockchain, provide details to them and they do the rest. If necessary reverse/downgrade the blockchain in large fraud cases!

I am tired of people stealing and getting away with it. Paypal, Skrill and various payment methods are doing it just because they can, and they're never held liable.
The only difference is that our commission is going to retrieve bitcoins back from scammers after solid evidence are provided.

People deserve to get back their stolen money, that they've mined or worked for, and just because bitcoin is not centralized, doesn't mean that we have to sit and take this abuse!

My Vanity address - 1KrackryDQCJTm8R21uUzrPXJTUpgMudin
paxful profile - https://paxful.com/user/krack-r
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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Henkkaa
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March 01, 2017, 10:05:41 AM
 #2

What an absurd idea. This would never work with bitcoin. Who wants to make the best payment method in the world into a damn court room? Faking evidence isn't that hard to execute, and the blockchain would be flooded with reversals and scam accusations. It would all turn into a big ugly mess.

Very unlikely you'll get scammed for your bitcoins, when you use a trusted escrow (scammers don't want to use this, so it makes detecting scammers easier). Secondly, store your bitcoins properly. If someone has stolen 10k$ worth of coins from you, maybe it's time to buy a Trezor and store your coins safely with it.

This idea is just plain stupid in so many ways, as it would make bitcoin basically same as Paypal. Fake some evidence of scam, and get your money back from a trade easily. Bitcoin is made so everyone can apply a level of protection that suits their needs. If you are still concerned about theft, make an offline wallet and secure it with a hardware wallet tool of your choosing. Take the backup seed to a bank safe deposit box.
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March 01, 2017, 10:13:00 AM
 #3

The blockchain gets some 3 transactions per second. Every second.
So you come at some point crying that you got scammed.
The commission gathers up, it may take hours (more likely days) to decide if it was a scam or not.
And the revert.

Now please make a counting. At very least 2-300k transactions to be reverted because you can't take care of yourself. What about the other transactions, valid businesses and such, do you think any of them would use bitcoin again? No.
Please think more before making a business, make sure it cannot be reversed, watch your back better. It's all you can do. This idea is .. bad.

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mocacinno
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March 01, 2017, 10:15:56 AM
 #4

I think there's some confusion, OP:
blockchain.info = a commercial company, NOT the owner of bitcoin
the blockchain = the technology used for the decentralised ledger used by bitcoin

you say you want to contact blockchain and let them reverse a transaction, but in reality, the blockchain isn't a company, and blockchain.info is unable to reverse a transaction. Offcourse, they can create a transaction with an output of an equal value as the value that has been stolen from you, but they'd be paying you back from their own pocket (very unlikely to happen).

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March 01, 2017, 10:20:44 AM
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What an idiot. You don't know the difference between blockchain.info and bitcoin decentralize blockchain. You can't reverse transactions without the control of 51% of bitcoin hashrate. But even you have managed to have enough hashrate, Once you start reversing bitcoin transactions value of bitcoin diminish in an instant.
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