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Author Topic: Generosity of recent Bitcoin thefts  (Read 1799 times)
i_rape_bitcoins
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July 26, 2012, 06:01:43 AM
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As we all know with the recent plausible evidence of Zhou Tong being the Bitcoinica hacker, we should recall the generosity of this theft compared to MyBitcoin.

Zhou Tong offered a 5,000 BTC refund of the 100,000+ BTC stolen. If we use 100,000 as optimistic estimate of the stolen coins, 5,000 easily amounts to 5%.

Looking back on MyBitcoin, they offered 49% of the total 154,406 stolen.

Whats the verdict? MyBitcoin was more generous than Zhou Tong.

~I_RAPE_BITCOINS~
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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July 26, 2012, 06:06:09 AM
 #2

As we all know with the recent plausible evidence of Zhou Tong being the Bitcoinica hacker, we should recall the generosity of this theft compared to MyBitcoin.

Zhou Tong offered a 5,000 BTC refund of the 100,000+ BTC stolen. If we use 100,000 as optimistic estimate of the stolen coins, 5,000 easily amounts to 5%.

Looking back on MyBitcoin, they offered 49% of the total 154,406 stolen.

Whats the verdict? MyBitcoin was more generous than Zhou Tong.

Only if Zhou Tong promised to pay back 5%. He didn't just promise, he performed. Whereas Tom Williams only promised, paying back nothing except to Bruce Wagner his 25,000 BTC. Big difference. (somebody please correct me if I'm in error)

~Bruno~
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July 26, 2012, 06:12:01 AM
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No. The evidence was not plausible. See: https://bitcointalk.org/index.php?topic=95738.msg1055046#msg1055046

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July 26, 2012, 07:11:15 AM
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As we all know with the recent plausible evidence of Zhou Tong being the Bitcoinica hacker, we should recall the generosity of this theft compared to MyBitcoin.

Zhou Tong offered a 5,000 BTC refund of the 100,000+ BTC stolen. If we use 100,000 as optimistic estimate of the stolen coins, 5,000 easily amounts to 5%.

Looking back on MyBitcoin, they offered 49% of the total 154,406 stolen.

Whats the verdict? MyBitcoin was more generous than Zhou Tong.

Only if Zhou Tong promised to pay back 5%. He didn't just promise, he performed. Whereas Tom Williams only promised, paying back nothing except to Bruce Wagner his 25,000 BTC. Big difference. (somebody please correct me if I'm in error)

~Bruno~


You are in error, 49% was returned.

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