Post
Topic
Board Service Discussion
Re: If MtGox can ident the Bitcoins, why not fix it?
by
leopard2
on 25/02/2014, 18:25:25 UTC
I take $100 out of an ATM in $20 bills.  The ATM has recorded those serial numbers.  I immediately get mugged.  I identify the mugger to the police.  The money is seized.  The twenty dollar bills are identified as those I withdrew from the ATM.  The mugger gets tried, convicted, goes to jail or gets counseling (liberals) and I get my $20 bills back.

You are apparently not sober.

If you had any common sense you would recognize that this example is unrealistic. In the real world, the mugger will not be caught immediately, but spend those bills before he gets caught.  Roll Eyes

Not sure about US law (maybe D&T can comment?), but German law is crystal clear on that. If someone accepts money in good faith (as part of a legal transaction) then he owns that money. It is not possible to legally acquire stolen goods, but money is an exception (§935 BGB).

Without such a provision, trade would not be possible. Any grocer would have to fear that, at some point, the police seizes some of his money because the mugger said he bought some groceries at that store, using the stolen money.

BTC has to be the same way, or it is not electronic cash. No one, absolutely fucking no one would accept BTC anymore, since he could never be sure whether some of that BTC is tainted and gets seized or redlisted later on.

But I have a feeling you know this already, who is paying you for promoting redlisting?  Angry