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Author Topic: Any possibility that these heists will work in our favor?  (Read 1151 times)
LordSonjai (OP)
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March 19, 2015, 11:04:33 PM
 #1

Someone else just got robbed,another day,another bitcoin.  I need someone who knows what they are doing to tell me if this somehow can work in the benefit of bitcoin,I know it takes a beating because of it but it rebounds. Any chance that somehow these robberies will make it rebound even greater because of the scarcity of the bitcoin?wait nvm, i figure they just sell it. sigh.

ill just keep this thought up for your amusement.
Slaxt
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March 20, 2015, 12:05:43 AM
 #2

Someone else just got robbed,another day,another bitcoin.  I need someone who knows what they are doing to tell me if this somehow can work in the benefit of bitcoin,I know it takes a beating because of it but it rebounds. Any chance that somehow these robberies will make it rebound even greater because of the scarcity of the bitcoin?wait nvm, i figure they just sell it. sigh.

ill just keep this thought up for your amusement.

They will sell some but it depends how much they have stolen whether they really need the fiat and many other reasons, it can be good for people that see how scared the market gets over little things and the panic sellers let their stash go to someone who realizes what he is doing and buys them up so in a way the theft did help the market for at least until there is a dump of the stolen coins. In the overall scheme of things though no any thefts of bitcoin is not good and never will be only for a few..

TC is the worse thing to happen to default, needs to open his eyes and not jump to conclusions, not everyone lies!!! Anyway as promised I have left, pass word changed to long random which I will forget like that plonker who ruined a perfectly fine account.
mercistheman
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March 20, 2015, 12:27:32 AM
 #3

Nothing good comes from these heists... My concern is that a large % of these victims drop out of the game.
The sad part is that as a community we have not done nearly enough to educate new investors on best practices... it's just scattered bits of info requiring too much effort.
btcbobby
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March 20, 2015, 12:34:14 AM
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The only plausible thing that could cause it to benefit is people saying "wow, even when the moneys stole, no one can reverse the transaction"

But due to scarcity? It's not like the coins stolen from MtGox or Evo were sent to a burn address, just they were taken by someone else... The coins aren't gone from circulation.
OROBTC
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March 20, 2015, 12:42:10 AM
 #5

...

Thievery is thievery in every culture.  When anything like this happens it is of course bad.  Some confidence will be lost in the Bitcoin Ecosystem among those not already here.  Not to mention actual losses among those who saved in Bitcoin. 

(Losses amount to work that was done somewhere along the line, and now is worth nothing...)

These constant losses are an indication that it is very important to maintain the best security possible with your BTC!  Hardware like Trezor and Ledger Nano might represent the best balance between security and ease of use.
Beliathon
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March 20, 2015, 01:14:01 AM
 #6

Someone else just got robbed,another day,another bitcoin.  I need someone who knows what they are doing to tell me if this somehow can work in the benefit of bitcoin,I know it takes a beating because of it but it rebounds. Any chance that somehow these robberies will make it rebound even greater because of the scarcity of the bitcoin?wait nvm, i figure they just sell it. sigh.

ill just keep this thought up for your amusement.
http://nakamotoinstitute.org/mempool/everyones-a-scammer/

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
Window2Wall
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March 20, 2015, 01:26:40 AM
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I personally do not think anything good (for bitcoin) will ever come out of any kind of bitcoin related heist.

There have been several calls immediately after previous heists for the fungibility of bitcoin to somehow decline, generally speaking via the call for the bitcoin that was stolen to be made impossible by the miners to ever be spent. The fact that additional government regulation is coming into the bitcoin world, in theory this could actually happen which would likely lead to the ultimate failure of bitcoin
LordSonjai (OP)
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March 21, 2015, 09:41:25 PM
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I personally do not think anything good (for bitcoin) will ever come out of any kind of bitcoin related heist.

There have been several calls immediately after previous heists for the fungibility of bitcoin to somehow decline, generally speaking via the call for the bitcoin that was stolen to be made impossible by the miners to ever be spent. The fact that additional government regulation is coming into the bitcoin world, in theory this could actually happen which would likely lead to the ultimate failure of bitcoin

government regulation on bitcoin,how could this be possible they have absolutely no control of the block chain the people do. Or am I wrong? And where are your sources?
the_sunship
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March 21, 2015, 11:21:03 PM
 #9

it will be good for alts for a bit - and already DRK has been spiking heavily the last few days. Eventually it will all be turned into FIAT though, so it's an unstable time to buy.

I don't see any benefits for BTC at all here, except that the major news doesn't think these thefts are worth covering anymore - so that's a plus...I guess
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March 22, 2015, 03:25:47 AM
 #10

The problem these days is that people tend to think negatively about bitcoin even if the problem doesn't really originate from bitcoin or is bitcoin's fault for that matter. No thanks to some of the ponzi schemes trying to link to bitcoin and then smearing bitcoin's reputation. So generally when we speak of heist, I have a suspicion it will also lead to the same thing, that somehow it might be related to bitcoin security. However, the fact is that some people actually left their private keys on the table for everyone to see and then they blame it all on bitcoin.

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