What if you bought some of those stolen Mt Gox Bitcoins? - page 4.

AnonyMint

hero member

Activity: 518

Merit: 521

Quote from: mysidia on February 28, 2014, 09:48:40 PM

Quote from: AnonyMint on February 28, 2014, 08:33:29 PM

Quote from: ?? on ??

Ok so you know the address of a stolen bitcoin, now tell me how you plan to identify the person who owns the address?

There is no anonymity in Bitcoin against powerful entities:

There might not be any anonymity, but that still doesn't help you prove that a specified person owns the private key associated with a newly generated Bitcoin address, whose only transaction so far was to receive some coins.

Unless the person shows you the private/public key; for all you know, the Bitcoin address was a DUMMY address, and the coins are essentially destroyed --- since there is no known public/private key pair in existence that would have the address that the coins were transferred to.

Incorrect. You had to transmit your public key to the sender who sent you BTC.

Edit: actually the public key is hashed and not public until you spend. But unless it was sent encrypted to the sender, this could be intercepted. And frankly most of the time you are not obtaining coins from such a covert sender. When you buy on an exchange, the authorities can get this information.

Also once you spend your coins then your public key is revealed. If you can't spend your coins without revealing your identity, then what is your point?

mysidia

member

Activity: 93

Merit: 10

Quote from: AnonyMint on February 28, 2014, 08:33:29 PM

Quote from: ?? on ??

Ok so you know the address of a stolen bitcoin, now tell me how you plan to identify the person who owns the address?

There is no anonymity in Bitcoin against powerful entities:

There might not be any anonymity, but that still doesn't help you prove that a specified person owns the private key associated with a newly generated Bitcoin address, whose only transaction so far was to receive some coins.

Unless the person shows you the private/public key; for all you know, the Bitcoin address was a DUMMY address, and the coins are essentially destroyed --- since there is no known public/private key pair in existence that would have the address that the coins were transferred to.

AnonyMint

hero member

Activity: 518

Merit: 521

Quote from: ?? on ??

Ok so you know the address of a stolen bitcoin, now tell me how you plan to identify the person who owns the address?

There is no anonymity in Bitcoin against powerful entities:

https://bitcointalksearch.org/topic/m.5355485

AnonyMint

hero member

Activity: 518

Merit: 521

Quote from: Littleshop on February 28, 2014, 08:02:20 PM

Quote from: Edward50 on February 28, 2014, 07:42:50 PM

Sorry if this was discussed, but in USA if you buy stolen property and you are caught with it you have to return it to the original owner at your loss.

Now, lets say someone did steal the Mt Gox. Bitcoins, and then you bought some of them unknowingly.

If they could trace back through the blockchain that those bitcoins were indeed stolen Mt. Gox. coins, wouldn't they be able to take them back from you?

I doubt that this would happen. The Bitcoins would not have the same address. They are not the same Bitcoins.

Maybe Bitcoins obtained straight from a stolen source are one thing, but Bitcoins that have transferred MANY times with differing amounts over a year? What basis would that be? They do not do that with cash or currency.

Naive bullshit or intentionally misleading spin. The chain of ownership is recorded in the blockchain.

https://bitcointalksearch.org/topic/m.5436510

https://bitcointalksearch.org/topic/m.5415520

https://bitcointalksearch.org/topic/most-bitcoin-will-be-clawed-back-due-to-widespread-theft-491181

Quote from: AnonyMint on February 27, 2014, 05:22:46 PM

For those who are rationalizing away the chain of ownership (I explained upthread) due to that the lack of physical nature to Bitcoin, you don't have any chance of winning that argument. If it wasn't owned, it wouldn't have value that can be exchanged. Even if we are trading fungible tokens in a pool, the tokens are still owned. Cripes, are you guys totally ingenuous or ignorant.

Littleshop

legendary

Activity: 1386

Merit: 1004

Quote from: Edward50 on February 28, 2014, 07:42:50 PM

Sorry if this was discussed, but in USA if you buy stolen property and you are caught with it you have to return it to the original owner at your loss.

Now, lets say someone did steal the Mt Gox. Bitcoins, and then you bought some of them unknowingly.

If they could trace back through the blockchain that those bitcoins were indeed stolen Mt. Gox. coins, wouldn't they be able to take them back from you?

I doubt that this would happen. The Bitcoins would not have the same address. They are not the same Bitcoins.

Maybe Bitcoins obtained straight from a stolen source are one thing, but Bitcoins that have transferred MANY times with differing amounts over a year? What basis would that be? They do not do that with cash or currency.

Edward50

hero member

Activity: 602

Merit: 500

Quote from: SecondsOld on February 28, 2014, 07:45:24 PM

How? BTC transactions are irreversible.

Not really if law enforcement gets involved and you have to go to court. Technically you can be sued if you can convince a jury.

Not really a good thing to be honest if this did happen.

SecondsOld

sr. member

Activity: 364

Merit: 250

How? BTC transactions are irreversible.

Edward50

hero member

Activity: 602

Merit: 500

Sorry if this was discussed, but in USA if you buy stolen property and you are caught with it you have to return it to the original owner at your loss.

Now, lets say someone did steal the Mt Gox. Bitcoins, and then you bought some of them unknowingly.

If they could trace back through the blockchain that those bitcoins were indeed stolen Mt. Gox. coins, wouldn't they be able to take them back from you?

Topic: What if you bought some of those stolen Mt Gox Bitcoins? - page 4. (Read 9148 times)