Quote from: casascius on September 02, 2011, 05:58:32 PM

Quote from: JeffK on September 02, 2011, 05:52:08 PM

Quote from: casascius on September 02, 2011, 05:45:25 PM

By the logic I'm reading here, if I put a new fountain in my front yard, and someone steals it, it was their right, because when you start putting fountains in places without locking them down, it becomes other people's right to steal them if they can. And that if someone steals my fountain, title to the fountain transfers rightfully to the thief because the nature of fountains is that possession is nine tenths of the law and that transferring fountains (just like cash) is irreversible.

It is more akin to you putting 4 fountains in my yard, having it mathematically verified that you did so, and then coming back to me and saying "although all four fountains are yours now, I only intended to give you one. Give me three fountains back."

I would say more like putting 4 fountains in your yard, and then coming back to you and saying, "although you were delivered four fountains, that was a mistake, you only paid for one. Please allow me to pick up the other three."

As far as 'who owns what', the blockchain has the final say. This is an underlying concept of Bitcoin.