bitcoin is not property.
who "owns" a bitcoin is decided by consensus and by consesus alone.
nobody who acquired bitcoins ever signed a contract that promises them "ownership" after losing the ability to sign a Transaction. Not even implicitly. Whether they lost that ability intentionally, by accident, or by force, doesn't matter. Ownership by protocol/consensus is the very essence of bitcoin. If ownership was determined by edict, then bitcoin would no longer be bitcoin. In fact, then you could scrap the blockchian altogether and use a public database of edicts instead.
Since people acquire bitcoins voluntarily, and since these rules are public knowledge, they cannot argue retroactively that bitcoins are property.
That would be like losing in a game of poker and then suing the winner to give you back the money because you think that the rules of poker are unfair.
edit: suing mtgox is a different matter because here users did enter a contract with mtgox. but that only creates obligations for mtgox, not for third party bitcoin users.
Topic: It will be quite a simple way to destroy all the possible bitcoin exchanger (Read 722 times)
March 03, 2014, 03:33:58 PM
March 03, 2014, 02:46:59 PM
expect more govt, hacker attacks on the centralized bitcoin exchanges
March 03, 2014, 01:29:00 PM
People who receive coin in a lawful exchange should not care where the coin comes from and be punished by having their coin taken away.
Once you start forcing people to verify the origin of the each and every coin they receive, it's all over for Bitcoin..
Once you start forcing people to verify the origin of the each and every coin they receive, it's all over for Bitcoin..
March 03, 2014, 01:22:27 PM
Once, the stolen bitcoins of MT.gox are appeared on any of the exchanges, and I am sure by using blockchain, it will be quite easy to trace the stolen coins. They will face a strong risk of being closed or suing to be closed of selling stolen properties, which is not allowed by any government. P2P torrents and videos, musics, documents could be shared without contact of money. But btc exchanges are different. They have to deal with dollars or other cashes, they can't just simply throw their servers into air without connecting to the real economics. Without the exchange, btc will loss its most important way to rise its price.
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