Cryptocurrency

[scooterscot]

I noticed - pleasant to see when waking up this morning. Will be interesting to see where they are by Spring next year.

Still holding that NMR I bought ages ago. Noticed a number of people have sold. Worst error ever selling low.

 

[Drei]

If I had £40m in my house you'd break into it and steal it from me?

That's a crime in case you did not know.

If I had so much in bitcoin I'd split it over several addresses and maintain an encrypted wallet. The password is only known to me. How are you going steal now? Or get the key to my house?

Right but my ONLY crime would be the break in, which will be a slap on the wrist. The actual £40 million theft would not be the crime since the BTCs are not currently insured by anyone or any government and even if by a miracle the police does decide to go after me for the £40 mill you would need to prove that you owned the BTCs in the first place and that I stole them.

I will happily go to prison for a simple break-in knowing that after a few days I would be £40 million richer.

P.S. Sure you have multiple wallets encrypted (how do you encrypt paper wallets again?). No offence but for a £40 mill hit there are many ways to make someone talk. Remember, there are different laws when it comes to what you steal and how you steal it. Armed robbery is a big no no, having someone stand in front of you with a baseball bat breaking your knee caps is different, or tying you down to a chair and smacking your balls with a sock full of coins until you tell them what they want.

My point here is that I am stealing something which no one gives a tulip about it, well none of the relevant parties unless you have the Cryptocurrency insured at which point it would be the Insurance company putting the pressure and coming after me.

It is the same thing as people stealing from criminals or from unregulated places. For example in the US states where drugs are legal, the specific shops need their own security as the police will not get involved if they get robbed (the moment someone is hurt or killed then they will get involved but for that crime only, not the actual theft). Same goes for stealing money from a crack house, a brothel or an illegal gambling joint. The police would get involved the moment someone was killed during the robbery.



You guys have some serious flawed mentality: you want crypto because it is unregulated, because the banks have no say, because the government has no power over them... and yet you expect them to go chasing after the people that just robbed you of that item which they have no control over nor can they enforce since BTCs are global?

Also tell me what I would get for breaking and entering:

If there is intent to commit a crime, this is burglary. If there is no such intent, the breaking and entering alone is probably at least illegal trespass, which is a misdemeanor crime. (See: burglary, trespass).

AGAIN, Please please please you smart asses tell me what would happen if I get into your house, take your paper wallets and sell the coins for cash. What would the Police do? Remember you would also need to prove to them that I stole those BTCs in the first place, would yo have enough to prove lawful ownership of the BTC at that specific time? Bearer bond anyone?

Near the end of the 1970s, the parties most using these types of bonds were primarly engaged in illegal activities.

How is this different than the parties most using cryptocurrency?

 

[Drei]

I wonder if this guy ever got his 25000 BTCs back)

https://bitcointalk.org/index.php?topic=16457.0



https://www.theguardian.com/technol...ep-marketplace-trading-digital-currency-money



Let's assume that you managed to track down the coins after being in the system, by now the coins have gone up another $1000... would you expect the merchants or people that accepted them as payments to be out of pocket $0000's to pay you back?

 

[scooterscot]

My point here is that I am stealing something which no one gives a tulip about it,

If that were true there wouldn't be over $152 billion dollars of it currently circulating.

You seem to be very comfortable stealing from others that which you did not earn.

 

[BrilloPad]

https://www.theguardian.com/technology/2017/oct/08/cryptocurrencies-bitcoin-ethereum-bubble

 

[Drei]

If that were true there wouldn't be over $152 billion dollars of it currently circulating.

You seem to be very comfortable stealing from others that which you did not earn.

It is funny how your reply doesn't actually say anything else. $152 billion sure, make believe speculative figures, doubt anyone actually paid $152 billion at this point or has any intentions in doing so. Of course people still invest because people are greedy tulips happy to make a profit any way possible, couldn't care less what happens down the line nor do they understand it.

You do realise that no one that own bitcoins actually earned them right? Leaving your PC on without any input from the user and calling it earning... rather defies the point of "earning" something. Putting $1 in a jar then suddenly getting $5000 back is not earning either, one could call it a Ponzi scheme but what do I know, earning %5000 inters on $1... different kind of earning. I on the other hand stealing the BTCs from you probably did more earning as I did something to earn the BTCs.

You know me, I am incoherent and stupid... how does one actually EARN bitcoins again?:

earn
əːn/
verb
gerund or present participle: earning

1.
obtain (money) in return for labour or services.

2.
gain deservedly in return for one's behaviour or achievements.

To answer your questions:
NO I sure as **** would not feel bad stealing drugs from a drug-lord. Difference is that drugs would not be converted to cash without harming others along the way where crypto is without harming anyone. You have something of value which you did not "earn" in any way which is sitting outside of the law... would I have a problem taking that from you?
You might as well make a document that says you own the moon then bitch when I go there and take some of the Moon soil.
I really hope that you are getting my point to the above without saying I am not making sense again.

Funny tulip, if someone stole your GOLD in World of Warcraft which you did "earn" by playing and putting in the time, do you think the Police would investigate? 5600000 worth of WoW gold would be around £450 which is still a huge amount for many people. Yet WoW is backed by Blizzard so if you were to lose all that gold they would most likely go through the logs and return it, may even track it down and take it back however if the gold was stolen and passed along to multiple users... it would be unfair to take it back correct? The same as it would be taking back stolen BTCs after they circulated. Difference is that Blizzard can always make as many coins as they want just like Central Banks can print money. No one can reimburse you the lost Bitcoins as no one is able to create them just for you.
I would actually feel bad stealing someone's online currency or their account as they most likely put in a lot of effort and time to "earn" it.


Might be worth reading this:
https://www.vice.com/en_us/article/...tolen-in-a-major-hack-will-the-fbi-help-v24n1

Yes we pay a premium for FIAT, we pay it because of certain security which cryptocurrency doesn't provide because that's how it was created to be.
Banks rely on the reversibility feature every day to stop fraudulent activities. Since bitcoin transactions are irreversible, they can never be undone, once committed that's it end of the line.

The more and more people start getting ripped off, scammed, robbed, hacked, purchase faulty tulip which they cannot get a refund on... that is the moment crypto will either need to be backed by someone or God knows... I sure as hell wouldn't use it.


Simon Cowel, Kim and many other celebrities got robbed at point blank. Imagine if the same guys realise how easy it would be to steal cyrptocurrency without having the same worry as with jewellery (appraisal, re-selling, losing value when sold, storage, carrying it, traced by local/international enforcement agencies etc). Not only that but the Police may find it extremely hard to build a case against them.

Imagine going into a Police station in distress shouting that someone stole all your drugs)) In their view it is the same thing right now if you go and say someone stole your bitcoins. If I am wrong and the local enforcement has specific rules in dealing with cryptocurrency please let me know.
As I said, they may go after the culprits due to the way they obtained the cyrtocurrency but not for the actual value or the crypto itself.

P.S. I do realise that I am preaching to deaf people

 

[filthy1980]

anyone have any recommendations for a Bitcoin Cash wallet?

apparently I have some I need to claim but my existing Blockchain wallet doesn't support Bitcoin cash I don't think

 

[northernladuk]

Electrum one?

 

[Lance]

Electrum one?

yeah. This....

Most wallets require you to download the entire blockchain. Some want you to put the keys in their cloud (no chance).
Electrum is the best one I've used.

 

[FrontEnder]

Right but my ONLY crime would be the break in, which will be a slap on the wrist. The actual £40 million theft would not be the crime since the BTCs are not currently insured by anyone or any government and even if by a miracle the police does decide to go after me for the £40 mill you would need to prove that you owned the BTCs in the first place and that I stole them.

I will happily go to prison for a simple break-in knowing that after a few days I would be £40 million richer.

You're flat out wrong here. If you think that breaking into someones house, holding a gun to their head to tell you something that you want is going would result in just a charge for breaking and entering, you're an idiot. It would be a serious crime.

You're logic is that it's not a crime because you can't insure it. This is nonsense, the ability to insure something has not bearing on if theft of it is a crime. And of course, you can insure bitcoin.