Could there be a law on stolen bitcoins? - page 3.

darklus123

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Quote from: bitbunnny on November 09, 2016, 02:58:02 PM

Stealing of anything is illegal and this is the crime everywhere in the world. There is no need for separate law to protect just Bitcoin. And no country would make such law.
The difference and also the problem with stealing Bitcoins compared with stealing fiat is the greater anonimity of Bitcoin transactions so it's much harder to trace them.

And this is the main reason why bitcoin should be used for illegal activities. People right now tend to be more vigilant than before. The were a lot of cases proven that the criminals who uses bitcoin's were punished regardless of how hard can we determined the person it is still impossible to do so.

Dwetha

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No I do not think that there will be putted a low on because its hard to do that and maybe even impossible to be honest.

Indrawan77

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I dont think there will be any law regards to bitcoin because there are still no one controlling bitcoin, so this is one of the bitcoin weakness and it is hard to track who own the coin, so it is difficult to know who is the person responsible for the criminal act and up until now there is still no party who is able to freeze the wallet account

nara1892

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Quote from: john2231 on November 07, 2016, 08:28:05 PM

It is illegal but even we have the law stolent bitcoins it is impossible to trace those thieves since bitcoin is anonymous and you can use bitcoin mixer to be anonymous your transaction and done you are far to caught by NBI or police..
And there is a law even in bitcoin there should be a laws and punishment for those thief's

If a community wants to make a law on bitcoin stolen, they should have prepared a program that can discover or recognize the thieves. they should have some preparation of course, because it is not easy to find thieves because there is the so-called bitcoin mixer. the thieves probably use kind of thing to be anonymous, so their identities will not be known.

MingLee

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If they really tried I'm sure that there could be a law about stolen Bitcoins, however investigations would likely be lengthy and there is a high chance it would lead to nothing happening if the person takes enough precautions to prevent people tracking them.

Plus getting laws about stolen Bitcoin bring a ton more other laws along with them, so it might not be worth it.

The_Dark_Knight

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Quote from: Diced90 on November 14, 2016, 02:10:45 PM

It would be nice to get the cyber criminals behind bars as the give bitcoin a bad name....but am sure if there is a money trail and possibly have something like a blockchain which shows addresses having stole funds....mixing providers would certainly refuse such transactions

Criminals must pay for their crimes no doubt about that, but the ones giving bad name to bitcoin are the banks through the media by saying that only cyber criminals use bitcoin.

Doamader

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How could be a law for stolen bitcoin if bitcoin its currencie decentralized and without any rules, you are at crypto world and you know the risk associated to them, all the data stored at your computer its up to you to take care about your coins as your data.

jak3

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no these problems are just a bad side of the extra features like anonyousity and those milletry grade security. thats why no one can easily track down those bitcoin scammers and if anyone tries to do that then they have to breake these rules

canah17

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Quote from: groll on November 07, 2016, 07:56:08 PM

Could there be a law on stolen bitcoins? What if there would be a law punishing those who steal bitcoins and those people behind scam sites? And if so, is it necessary to have such law? I'm just wondering, if there would be such law about stolen bitcoins, it could be a big relief to us bitcoin users. But then, there are so many questions and issues that goes with this ideal that makes me skeptical about it. Huh

Well all i know is there is no law about it because its your responsibility to have that bitcoin you must be wise up and think because i am a victim of that stolen bitcoin thing i really didn't knew that it was a scammed i thought that its very nice to have a high security wallet and i rely on it i saved up much bitcoin from it and i really saved up 5.0 btc yes its true 5.0 damn its so big and all gone in a sec i search how to report the website but i filed up but today i don't have any replies i hope the creator of bitcoin can trace the website so that they can take my money back what they stole from me if there is a law about it its not that really special in the real world because its just normal playing games to them

prabowo96

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it's showtime

Quote from: richardsNY on November 14, 2016, 05:39:05 PM

Quote from: Diced90 on November 14, 2016, 02:10:45 PM

It would be nice to get the cyber criminals behind bars as the give bitcoin a bad name....but am sure if there is a money trail and possibly have something like a blockchain which shows addresses having stole funds....mixing providers would certainly refuse such transactions

Hackers with brains won't make use of well known Bitcoin mixers with the risk of having the stolen coins frozen. They either mix the coins themselves as they most likely have the knowledge to develop their own mixing system backed with a solid algorithm. Or they somehow end up selling these coins at a significant discount.

Don't know what they do, never heard about that mixing system... I think they buy some altcoins like monero and others anonymous alts so in this way they can buy bitcoin again sometime...
Hope one day someone find a way to deal with hackers and scammes...

richardsNY

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Quote from: Diced90 on November 14, 2016, 02:10:45 PM

It would be nice to get the cyber criminals behind bars as the give bitcoin a bad name....but am sure if there is a money trail and possibly have something like a blockchain which shows addresses having stole funds....mixing providers would certainly refuse such transactions

Hackers with brains won't make use of well known Bitcoin mixers with the risk of having the stolen coins frozen. They either mix the coins themselves as they most likely have the knowledge to develop their own mixing system backed with a solid algorithm. Or they somehow end up selling these coins at a significant discount.

markyminer

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Quote from: error08 on November 11, 2016, 08:42:13 AM

I agree we should have law on bitcoin but it set by government and for now bitcoin not an authorized currency, so nothing to do with it.
Even we have the law, so hard to track down the thief since bitcoin transaction made anonymous and hard to proof that your bitcoin has been stolen if your wallet been hacked.

yes that is the main problem as bitcoin is not a legal currency and still not a single country consider it as legal therefore there is no law for stole bitcoin, we have a very clear example of bitfinex, what kind of step take against the hacker i think still in useless.

Diced90

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Get'em boys

It would be nice to get the cyber criminals behind bars as the give bitcoin a bad name....but am sure if there is a money trail and possibly have something like a blockchain which shows addresses having stole funds....mixing providers would certainly refuse such transactions

victoryboy

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If there are still some flaws and there are for sure related to legislation regarding cryprocurrencies in future. It is just beginning hardly Bitcoin came under some some rules and regulations. There will be strict laws in future and offenders will be treated same as they of now if they steal money of someone. There is much to be done about Bitcoin and digital currencies by governments.

xhomerx10

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Quote from: JeffBrad12 on November 11, 2016, 07:42:53 PM

Quote from: LordCoder on November 11, 2016, 10:42:29 AM

I highly doubt stealing Bitcoins would be the same as stealing cash, at least in my country. Mainly because not many people know what it is, and cops won't do anything if they are told to "search" for someone with the address x.

I said, the police will be unable for arrest you for using bitcoin, and they just running according to from the everything are regulating by the constitution.

Something is outside from the constitution aren't can get caught by the police at this time. except some are violating the rules of constitution.

It seems you don't know the purpose of the Constitution of the United States of America. You should do some research.

ashiqdey

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Bitcoin is itself illegal in some country and still some countries are hoping to ban bitcoin so who would come to make law for bitcoin. When bitcoin is itself illegal(not in all country) so can there be any law on bitcoin scammers. Government doesn't care who losses money from bitcoin and who gains. It really out of questions to make law on bitcoin and bitcoin scammers

requester

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Well you either have freedom or you have nothing and that is pretty much how bitcoin works in reality. You start making rules to track or attack people with your ideas and you kill bitcoin in the process. May not be right away but a gradual decline would for sure happen as the markets reflect the change. And no one cares to make law for bitcoin scammers.

The_Dark_Knight

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Quote from: groll on November 07, 2016, 07:56:08 PM

Could there be a law on stolen bitcoins? What if there would be a law punishing those who steal bitcoins and those people behind scam sites? And if so, is it necessary to have such law? I'm just wondering, if there would be such law about stolen bitcoins, it could be a big relief to us bitcoin users. But then, there are so many questions and issues that goes with this ideal that makes me skeptical about it. Huh

A law like that is completely unnecessary theft is illegal no matter the form or the method you use, the same can be said about scamming and any other criminal related activity.

JeffBrad12

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Quote from: LordCoder on November 11, 2016, 10:42:29 AM

I highly doubt stealing Bitcoins would be the same as stealing cash, at least in my country. Mainly because not many people know what it is, and cops won't do anything if they are told to "search" for someone with the address x.

I said, the police will be unable for arrest you for using bitcoin, and they just running according to from the everything are regulating by the constitution.

Something is outside from the constitution aren't can get caught by the police at this time. except some are violating the rules of constitution.

Sharma

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Quote from: groll on November 07, 2016, 07:56:08 PM

Could there be a law on stolen bitcoins? What if there would be a law punishing those who steal bitcoins and those people behind scam sites? And if so, is it necessary to have such law? I'm just wondering, if there would be such law about stolen bitcoins, it could be a big relief to us bitcoin users. But then, there are so many questions and issues that goes with this ideal that makes me skeptical about it. Huh

First we must understand that every nation has their own laws and not all countries may necessarily make same law on same subject.
Second for enacting any such international law about bitcoin, btc needs to be a mainstream currency in many countries or atleast half of total world population must use it.
Although there must be some legal safeguards for bitcoin users also but I dont think such a interference will come out without any compromise for bitcoin users.
Governments may make it compulsory to disclose your total bitcoin holding etc

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