Post
Topic
Board Beginners & Help
Re: Exchange accidentally sent 512 bitcoins after coding error
by
geebus
on 03/09/2011, 11:52:01 UTC
Ben, having been SENT the coins, whether mistakenly or not, now owns them.

Apply your reasoning to credit card chargebacks. An FAQ does not trump law, no matter the language used. The only deciding factor is whether the transaction was intended or not.


Incorrect Sir. You are not participating in a federally or internationally regulated credit system. You are participating in Bitcoin. A virtual currency that holds no value in the real world beyond that which is put on it by the members of the community that use it.

Bitcoin is no further subject to federal regulation, law, or consumer protection than something like WoW gold.
From the perspective of the United States Supreme Court, it is a game. Virtual. Not real.

The rules of the game state that transactions go one way and once it's sent, you no longer own it and the recipient now does.

If you don't like the rules, go play a different game.