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Author Topic: You may not refuse stolen bitcoins, confisticate them instead  (Read 313 times)
goldkingcoiner
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August 06, 2026, 09:19:19 PM
 #41

Your suggestion leans heavily towards censorship and centralisation which is against how bitcoin operates. Unofficially, the community kicks against scams, when any comes public such address is put on public watch and its difficult to move it without being tracked as in the current coldcard case, but if we want to create a system that enforces this, you lose a key component of bitcoin and it's prone to be abused.

The centralised market already makes it very difficult to move stolen funds and blacklists addresses (sometimes arbitrarily).


I think what OP is trying and failing to communicate, is that we could leave Bitcoin as a separate entity to this. It changes nothing about Bitcoin's centralisation. But the idea would not work because anyone who gets stolen Bitcoin is not going to care if their Bitcoin is from a possibly stolen source or not.  That is where the idea ultimately fails. To Bitcoiners, stolen Bitcoin is still Bitcoin. There is no Bitcoin centralisation of "bad bitcoin" because the consensus is against confiscation via snitch network Tongue. But this network is going to crash and burn.

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Hazink
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August 06, 2026, 09:31:41 PM
 #42

Things should be built or handled in a way that makes it almost impossible to sell or exchange stolen bitcoins for goods and services, otherwise their receivers will have lots of issues exchanging the coins and questions to answer. They could be arrested and investigated physically for holding stolen coins. Ofcourse, it they are not the thieves, they should be released but the coins could remain confisticated
If you own a business or render any form of service, you have the right to accept or reject any coin that you consider not to come from a legal source or linked to illicit activities that’s your call to make, but to propose that something like that should be implemented in the blockchain is the same thing as those pushing for censorship, and have you also thought about how it could be abused? Mind you, exchanges are very quick at detecting coins which come from a flagged address, so it’s not something new again.

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August 06, 2026, 10:19:42 PM
 #43

Things should be built or handled in a way that makes it almost impossible to sell or exchange stolen bitcoins for goods and services, otherwise their receivers will have lots of issues exchanging the coins and questions to answer. They could be arrested and investigated physically for holding stolen coins. Ofcourse, it they are not the thieves, they should be released but the coins could remain confisticated
If you own a business or render any form of service, you have the right to accept or reject any coin that you consider not to come from a legal source or linked to illicit activities that’s your call to make, but to propose that something like that should be implemented in the blockchain is the same thing as those pushing for censorship, and have you also thought about how it could be abused? Mind you, exchanges are very quick at detecting coins which come from a flagged address, so it’s not something new again.

The coldcard hack had made people come up with different ideas of security measures but that suggestion he gave is is like fighting for a worthy cause but in an unpleasant/acceptable way that would make people question his intentions for thinking such, Bitcoin in general is against censorship and coming up with an idea that encourage it is a wasted effort.

 You're right Hazink, exchanges are already helping out in freezing deposits from flagged accounts so his suggestions is not very valid since it's something that's been ongoing before this recent hack that's birthing all these different suggestions. The truth is that everyone has access to use Bitcoin so people with bad intentions would also use it too.

JeffBrad12
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Today at 04:02:12 AM
 #44

You're saying everybody on the blockchain should suffer the false flag of automated system that could confiscate BTC because several BTC is stolen? How is that better than the banking system Grin.

I took care of my bitcoin on self custody to avoid being flagged falsely by exchange and now even a self custody wallet is proposed to have the same thing, might as well make transaction reversible and freezable so the tradfi guys and bankers can go in and have party.
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