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Author Topic: What if you bought some of those stolen Mt Gox Bitcoins?  (Read 8852 times)
fluidjax
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March 02, 2014, 01:54:16 PM
 #61


Incorrect. You had to transmit your public key to the sender who sent you BTC.

This guy claims a deep technical understanding and argues why Bitcoin is doomed to fail and yet demonstartes his total ignorance by clearly not understanding the basics of Bitcoin... What a muppet... Ignored.


There are many things that will need to be settled in court before any cases can be finalised.
among other things..
Is Bitcoin property? Under English law I doubt it, therefore it cant even be stolen, just like you cant steal (Theft Act) electricity.
What jursidiction is relevant? The blockchain is everywhere, and you cant be sure where a transaction was made.
Bitcoin may only be psuedo anonymous, but law requires beyond reasonable doubt, which is a significant burden of proof, so proof of ownsership may be mostly impossible once coin has been moved from an address linked to a KYC check.


Its all a serious minefield for the lawyers (though im sure they'll love that)
Bitcoin specific convictions are a long way off, and a good defense lawyer will run rings around any prosecutions.
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HorseCoin
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March 02, 2014, 02:47:15 PM
 #62

why not just buy Starbux stock.  He obviously drinks a LOT of those

investment is a great staple
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March 02, 2014, 02:58:49 PM
 #63

Wow, someone has a lot of 'internet time' on their hands...

I think you are making one major assumption here: that your public address can be linked to your ip when you make a payment... what if you use tor? What if coins are tumbled, using tor... could you still trace them... beyond the shadow of a doubt?

Why don't you try reading the two threads more carefully, since I refuted that point at least 3 or 4 times already.

Sigh  Roll Eyes  Cry


Incorrect. You had to transmit your public key to the sender who sent you BTC.

This guy claims a deep technical understanding and argues why Bitcoin is doomed to fail and yet demonstartes his total ignorance by clearly not understand the basics of Bitcoin... What a muppet... Ignored.

Quoting me out-of-context by eliding much of the quoted post (and pretending not to read my post that followed it), and then using that liar-method to claim I didn't understand something, is the epitome of beta-male chest thumping.

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March 02, 2014, 03:13:34 PM
 #64

Signing off now.

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March 02, 2014, 03:13:50 PM
 #65

Wow, someone has a lot of 'internet time' on their hands...

I think you are making one major assumption here: that your public address can be linked to your ip when you make a payment... what if you use tor? What if coins are tumbled, using tor... could you still trace them... beyond the shadow of a doubt?

Why don't you try reading the two threads more carefully, since I refuted that point at least 3 or 4 times already.

Sigh  Roll Eyes  Cry
Because your posts start with "imagine that..." and go on to "with that they can and will..." and I have more important things to do with my time... Sigh  Roll Eyes  Cry

Decentralize EVERYTHING!
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March 02, 2014, 03:17:22 PM
 #66

Sorry if this was discussed, but in USA if you buy stolen property and you are caught with it you have to return it to the original owner at your loss.

Now, lets say someone did steal the Mt Gox. Bitcoins, and then you bought some of them unknowingly.

If they could trace back through the blockchain that those bitcoins were indeed stolen Mt. Gox. coins, wouldn't they be able to take them back from you?
Stolen money circulate in the economy, why should bitcoin behave differently?
As long as you did the trade in good faith you should keep your bitcoins even if they were stolen by the seller.
The thief should be punished, not you.
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March 02, 2014, 03:29:47 PM
 #67

The stolen coins would be sold all over the world and it would be very difficult to trace down that where have his coins gone. it's not possible to get the stolen coins back.

Unless the 744408 btc + 2000 btc, were stolen by a single entity.  If a botnet theft then those coins would sent to how many addresses?  I think there's a problem for the thief of what to do with all those bitcoins.  How many bank accounts would the thief need to cash out inconspicuously?  Unless they were stolen by some huge shady gambling group with a propensity for breaking legs of anyone discomforting it.  If if was some genius kid from Silicone Valley he likely chatted about an early exploit getting a few coins.  Why hasn't a sizable reward been offered for the return of the coins?  A reward could tempt a confederate of the thief to give him up.



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bitvestor
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March 04, 2014, 05:26:25 PM
 #68

Sorry if this was discussed, but in USA if you buy stolen property and you are caught with it you have to return it to the original owner at your loss.

Now, lets say someone did steal the Mt Gox. Bitcoins, and then you bought some of them unknowingly.

If they could trace back through the blockchain that those bitcoins were indeed stolen Mt. Gox. coins, wouldn't they be able to take them back from you?





Did you find the hacker who stole Mt Gox bitcoins? How much is he selling them for?
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