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Author Topic: Response from Linode regarding the theft case  (Read 3891 times)
Nachtwind
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March 24, 2012, 08:10:27 AM
 #21

I really dont think sueing them or asking fbi (or whatever) for help will make any difference.
Bitcoins are not recognized as a currency at all, or as payment method in general. So HOW is the FBI to accept that $200 000 were stolen?
My personal view is that there are only a few scenarios that can come out of sueing linode:
(ordered by probability)

1) No case gets filed
Linode has in their agreement that they arent liable to such problems AND they gave a compensation
2) A case gets filed
Linode agrees on a somewhat higher compensation: Maybe 5yrs of free service? But nothing remotely close to $200000. Since you have lost money by lost reputation and so on. Your Income isnt just what it was before.
3) A case gets filed
Bitcoins get recognized as having value, maybe a currency. So There has to be a full compensation. At this moment Bitcoins would also get a new price peak since it would become "real"... most unlikely to happen though Sad
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memvola
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March 24, 2012, 08:17:26 AM
 #22

Bitcoins are not recognized as a currency at all, or as payment method in general

Well, it has market value, so it would at least be considered as commodity. If they rule that it has no value whatsoever, then that would mean that they won't ever be able to tax it (at least to my naive mind). It's still a win.
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March 24, 2012, 08:18:12 AM
 #23

Bitcoins are not recognized as a currency at all, or as payment method in general

Well, they have market value, so they would at least be considered as commodity. If they declare that it has no value whatsoever, then that would mean that they won't be able to tax it. It's still a win.


Good point actually
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March 24, 2012, 11:08:46 AM
 #24

Fuck this.

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March 24, 2012, 12:50:19 PM
 #25

IANAL, but I seem to remember that: No matter what terms and conditions there are, even if you signed a contract, "gross negligence" is still usually legally enforceable.  A party in a contract like this cannot act grossly negligent and cause harm to another party, then claim that their contract protect them from being responsible.

The question is, can you show gross negligence?  It might be worth a quarter-million dollars to try.   (assuming US).  I argue that designing a universal backdoor into a piece of software that is marketed as "secure", and not letting the users know that it exists but letting your employees know is either grossly negligent, or borderline criminal (well some employees have to know, but how many?).

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March 24, 2012, 01:00:39 PM
 #26

I'm really saddened that everyone is so fixated on the amount of BTC that was stolen instead of the crime that was committed and the perpetrator. I want someone to investigate Linode because I don't trust their word of how this crime came about. I want someone to go there, and do an independent investigation and verify what they are saying.

I don't want to force reimbursement, I don't care about that. What I really care about is whether or not Linode really was a victim in this or not especially because that's what really matters for the rest of their clients and their future. I actually don't believe they should be forced to pay something/anything back that wasn't preagreed upon in a contract with them.

Just find out if they actually are a victim in this so their customers don't get hurt again.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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