if there's an infinite paper trail, don't they know exactly who has the stolen loot? or at least, exactly where it went?
you may want to look up what a "bitcoin tumbler" is. I mean I'm guessing you don't care enough to do so but essentially it takes your coins and a bunch of other people's coins and distributes them randomly to a bunch of public addresses and then back again, so you can't know what coins belonged to who. It would be like if I had a service where people could send all their dirty money to me, then I'd throw it all up in the air and give everyone back the amount they sent me. Which means in theory one of these services could just steal all the money, but that hasn't happened yet.
― frogbs, Monday, 3 March 2014 19:14 (ten years ago) link
Taking a crack at your questions, goole:
1. Yes, there is an infinite paper trail, but that trail only leads you to anonymous accounts. Linking those to people could be difficult, though I would speculate that someone with the resources of an FBI could probably do it, though not sure the FBI will get involved.
2. That's the bug that Gox is blaming, but I wouldn't be surprised if the flaw turned out to be something else. Only time will tell. I have a feeling the true story hasn't even started to come out yet.
3. I think only the BTC were stolen, but probably even those with USD claims can only hope for cents on the dollar at this point.
― o. nate, Monday, 3 March 2014 19:16 (ten years ago) link
well Gox has more liabilities than assets, not even counting Bitcoins. don't forget that the DOJ is "holding" a lot of their money for them..
anyway as o.nate points out this may not even be a theft. apparently a ton of bitcoins sit in accounts that Gox once transferred cash to in 2011 to prove they were still solvent (after they got hacked the first time), and they still haven't moved, so there's a chance that they may have just lost the private key (!!).
― frogbs, Monday, 3 March 2014 19:19 (ten years ago) link
I had an extra computer and free electricity last year and mining still made less monetary sense than parting out the computer on Ebay.
― Kiarostami bag (milo z), Monday, 3 March 2014 19:19 (ten years ago) link
i mean that's really the despicable thing about all this, there's soooo much electricity being wasted on this to create essentially nothing
― frogbs, Monday, 3 March 2014 19:22 (ten years ago) link
Hmm, apparently also $27 million in cash missing:
http://arstechnica.com/business/2014/03/mtgox-code-posted-by-hackers-as-company-files-for-bankruptcy-protection/
― o. nate, Monday, 3 March 2014 19:30 (ten years ago) link
im wondering when the pr0n industry will come up with f***coins
― Brian Eno's Mother (Latham Green), Monday, 3 March 2014 21:16 (ten years ago) link
t*tcoins. please.
― fact checking cuz, Monday, 3 March 2014 21:17 (ten years ago) link
fartcoins and totcoins
― socki (s1ocki), Monday, 3 March 2014 21:46 (ten years ago) link
The Japanese government will set rules for trading bitcoins, defining the virtual tender not as a currency but as a commodity akin to gold.
Trading gains will be taxed, and companies will need to pay tax on revenue earned from Bitcoin transactions. But enforcement could prove difficult, as tax authorities will have to track down users.
― anonanon, Tuesday, 4 March 2014 19:29 (ten years ago) link
2 days til Snoopcoinhttps://becausepool.com/dogg/
― calstars, Tuesday, 4 March 2014 19:32 (ten years ago) link
Smart move by the Japanese government. Establishes the legal norm and allows penalties for non-payment of the tax. Difficulty of enforcement is not the main issue imo.
― Aimless, Tuesday, 4 March 2014 19:34 (ten years ago) link
sounds like this is just going to give them the ability to prosecute people
― frogbs, Tuesday, 4 March 2014 19:51 (ten years ago) link
http://static.adzrk.net/Advertisers/5af77cf0094d4303bb308b955dd05992.jpg
― panettone for the painfully alone (mayor jingleberries), Tuesday, 4 March 2014 21:04 (ten years ago) link
http://www.pokernews.com/news/2013/12/bitcoin-guide-3-17102.htmhttp://www.pokernews.com/news/2013/12/bitcoin-guide-2-17049.htm
― PSY talks The Nut Job (forksclovetofu), Tuesday, 4 March 2014 21:13 (ten years ago) link
anybody on ilx play poker with bitcoins? seems like the most reasonable way to use this stuff: as magical play money
― PSY talks The Nut Job (forksclovetofu), Tuesday, 4 March 2014 21:14 (ten years ago) link
on the other hand
Despite the collapse of the biggest Bitcoin exchange, Tokyo-based Mt. Gox, which cost its customers $500 million in cryptocurrency deposits, the U.K. authorities are about to endorse the virtual currency. Her Majesty's Revenue and Customs announced that it would not charge the 20 percent value-added tax on Bitcoin trades or even on traders' margins. This means the U.K. is prepared to treat Bitcoin as money in the framework of an EU law that exempts payments and transfers of "negotiable instruments" from tax. Thanks to the ruling, London may soon become the capital of the Bitcoin world and the decentralized currency may yet rebuild its reputation after the recent scandals.
― anonanon, Tuesday, 4 March 2014 21:28 (ten years ago) link
looks like Poloniex (another BTC exchange) got hacked, it never ends
― frogbs, Tuesday, 4 March 2014 21:40 (ten years ago) link
is that separate from the flexcoin exchange? that one was hit also
― anonanon, Tuesday, 4 March 2014 21:48 (ten years ago) link
http://i62.tinypic.com/209ojzn.png
― real myst opportunity (sleepingbag), Tuesday, 4 March 2014 21:51 (ten years ago) link
this UK thing still doesn't explain why anyone would actually want to use bitcoins
― frogbs, Tuesday, 4 March 2014 21:51 (ten years ago) link
haha read iXcoin those as ilxcoin for a sec
― sleeve, Tuesday, 4 March 2014 21:57 (ten years ago) link
http://coinmarketcap.com/
― American Fear of Pranksterism (Ed), Tuesday, 4 March 2014 22:00 (ten years ago) link
bitbugs remind me of the anti vaccination crowd, so fixated on a fear with a remote possibility of happening (autism/collapse of dollar) when their solution is much more likely to fuck them over (polio/pertussis/MMR/bitcoin exchange collpase and or theft)
though I guess that's true of a lot of human nature
― anonanon, Tuesday, 4 March 2014 22:05 (ten years ago) link
So far it seems that Bitcoin offers unproven, speculative benefits for legitimate users and numerous, well-established advantages for hackers and criminals.
― o. nate, Tuesday, 4 March 2014 22:06 (ten years ago) link
truth bomb:
Bitcoin, at the moment, is in a slump, with a community that has become its own parody … The Bitcoin masses, judging by their behavior on forums, have no actual interest in science, technology or even objective reality when it interferes with their market position. They believe that holding a Bitcoin somehow makes them an active participant in a bold new future, even as they passively get fleeced in the bolder current present.
cross posted from other thread:
http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html
― sleeve, Tuesday, 4 March 2014 23:16 (ten years ago) link
"...Mt. Gox, a former Magic: The Gathering card exchange that morphed into Bitcoin’s largest trading floor..."
I did not know this.
― nickn, Wednesday, 5 March 2014 00:44 (ten years ago) link
mind was blown when i realized mt gox was an acronym for magic the gathering online xchange
― PSY talks The Nut Job (forksclovetofu), Wednesday, 5 March 2014 02:39 (ten years ago) link
I have no idea how realistic this is, but it's interesting to think about. Definitely there are lots of suggestive loose ends.
Peter R’s Theory on the Collapse of Mt. Goxhttps://bitcointalk.org/index.php?topic=497289.0
― o. nate, Wednesday, 5 March 2014 03:19 (ten years ago) link
I love how some "journalists" think it's actual "news" or "reporting" when they just recycle a bunch of old "doom & gloom" related Bitcoin stories and act as though their uneducated opinion actually counts for something. Bitcoin is about the future... and this reporter is living in the past. Why not report on any of the numerous good things Bitcoin is doing and actually make a contribution to society rather than dumbing it down. Just say'n... Although I have much more I'd like to say, I'll stop right there because it's obviously pointless with some people and I have better things to do than get in a "Comments" shouting match. If you're genuinely happy & satisfied with the way things are in this economy & have no hopes or ambition to change the future (or at least "report" on it)... then that's fine by me. I'll be sure to wave every once in awhile when I look back and see you in my rear view mirror....
― joe perry has been dead for years (underrated aerosmith bootlegs I have owned), Wednesday, 5 March 2014 03:24 (ten years ago) link
kudos
― death and darkness and other night kinda shit (crüt), Wednesday, 5 March 2014 03:26 (ten years ago) link
I'll be sure to wave every once in awhile when I look back and see you in my rear view mirror....
Your like 30 and your spending you're time complaining about video games on a forum full of other 30 yr olds and sprinkled with the occasional gay teen. Guess what I'm gonna be doing when I'm 30. Let's just say first I'll get up out of a 5000$ bed in my waterside mansion on the east coast of japan, awoken by the light of the rising sun that glorious island is nicknamed after. I'll gently lift myself out of bed so as not to stir my beautiful eastern european pale skin dark hair small boobs wife and go to my huge walk in closet. I'll come back out moments later wearing a really expensive italian suit. Strolling down the corridor I come into a room with glass cases full of the trophies of my achievements. I proudly look at all of them and then move into the next room, it's the room with a wall-sized HD display and walls upon walls of DVDs, mostly Anime but with a few Western classics throuwn in there. Jealous yet? Next I move into the kitchen and have my servant make me a breakfast, its usually pancakes with chocolate chips and whipped cream, but today... lets go healthy. Just a few slices of apple, Servant. Thank you. How delicious. Now I'm strolling into the living room about to make for the door so I can go out and enjoy my day at Comiket, but in the corner there I see something. I walk over by the 5000 dollar gaming rig, its turned off for now but later tonight I'll be playing Prostitute Farm Online, max settings and DirectX12. I begin to turn and make for the door again but then i stop and look at the black monitor screen (no less than 40 inches, btw). I just laugh. And laugh and laugh. I'm laughing because the guy who was 30 when I was a 17 year old pathetic yix poster is still a yix poster, meanwhile, I'm living the literal dream. All because I shoot for the top. Deal with it, bitch. YCS.
― PSY talks The Nut Job (forksclovetofu), Wednesday, 5 March 2014 03:44 (ten years ago) link
"Your like 30 and your spending you're time complaining"
Hat trick!
― nickn, Wednesday, 5 March 2014 06:37 (ten years ago) link
Plz tell me that's a parody.
― Emperor Cos Dashit (Adam Bruneau), Wednesday, 5 March 2014 12:42 (ten years ago) link
lol I was hoping the opposite, tell me thats for real!!!
― frogbs, Wednesday, 5 March 2014 13:49 (ten years ago) link
mostly Anime but with a few Western classics throuwn in there. Jealous yet?
― UK Cop Humour (Bananaman Begins), Wednesday, 5 March 2014 13:50 (ten years ago) link
i stop and look at the black monitor screen (no less than 40 inches, btw).
― UK Cop Humour (Bananaman Begins), Wednesday, 5 March 2014 13:52 (ten years ago) link
It's brilliant either way.
― UK Cop Humour (Bananaman Begins), Wednesday, 5 March 2014 13:56 (ten years ago) link
Thank you. How delicious.
such a treat to see people discover this for the first time.
― landschlubber (Noodle Vague), Wednesday, 5 March 2014 14:02 (ten years ago) link
What the fuck did you just fucking say about me, you little bitch? I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces. You are nothing to me but just another target. I will wipe you the fuck out with precision the likes of which has never been seen before on this Earth, mark my fucking words. You think you can get away with saying that shit to me over the Internet? Think again, fucker. As we speak I am contacting my secret network of spies across the USA and your IP is being traced right now so you better prepare for the storm, maggot. The storm that wipes out the pathetic little thing you call your life. You’re fucking dead, kid. I can be anywhere, anytime, and I can kill you in over seven hundred ways, and that’s just with my bare hands. Not only am I extensively trained in unarmed combat, but I have access to the entire arsenal of the United States Marine Corps and I will use it to its full extent to wipe your miserable ass off the face of the continent, you little shit. If only you could have known what unholy retribution your little “clever” comment was about to bring down upon you, maybe you would have held your fucking tongue. But you couldn’t, you didn’t, and now you’re paying the price, you goddamn idiot. I will shit fury all over you and you will drown in it. You’re fucking dead, kiddo.
― dan m, Wednesday, 5 March 2014 14:13 (ten years ago) link
- Bob Marley
― Kim Wrong-un (Neil S), Wednesday, 5 March 2014 14:15 (ten years ago) link
I'm looking forward to the collapse of Google Glass. I hope it's right out of "The Jerk."
― Josh in Chicago, Wednesday, 5 March 2014 14:16 (ten years ago) link
I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces.
I am trained in gorilla warfare
gorilla warfare
gorilla
― frogbs, Wednesday, 5 March 2014 14:30 (ten years ago) link
uh oh
http://newswatch.us/28-year-old-ceo-of-bitcoin-exchange-dead-after-possible-suicide/
― frogbs, Wednesday, 5 March 2014 14:34 (ten years ago) link
Rupert Chappelle •12 hours agoGhaddafi farked with the bankers, Kennedy farked with the Bankers, Lincoln farked with the bankers, any questions?
18 △ ▽
― frogbs, Wednesday, 5 March 2014 14:35 (ten years ago) link
flexcoin got caught sleepin in the turning laneganked
http://www.businessinsider.com/flexcoin-2014-3
― gimme the lute (upper mississippi sh@kedown), Wednesday, 5 March 2014 15:57 (ten years ago) link
anyone want to buy ILECOIN?
― Brian Eno's Mother (Latham Green), Wednesday, 5 March 2014 16:39 (ten years ago) link
ile buy that for a dollar!
― sktsh, Wednesday, 5 March 2014 16:46 (ten years ago) link
someone come up with 133 ways to make the number 752834756982734658723645 using multiplication
― Brian Eno's Mother (Latham Green), Wednesday, 5 March 2014 16:47 (ten years ago) link
ILE buy that for a dollar
― socki (s1ocki), Wednesday, 5 March 2014 17:36 (ten years ago) link