Post
Topic
Board Bitcoin Discussion
Re: would you accept stolen bitcoins?
by
TheFootMan
on 03/03/2014, 12:43:55 UTC
If a wallet asks you when you install it, "would you accept stolen bitcoins?" what will be your response?

If someone create a web to inform against stolen bitcoins gaving proofs and it gave you a wallet for money back marked and acepted stolen btc´s

I think Is time to make something with thieves.

What if you did an otc trade, or put money on an exchange, you bought BTC for 500 USD. Then you went on to buy something at a store. Store confiscates money or rejects it and claims it is no good, would you be happy?

Or the fiat version. You pay with a 100 dollar bill in a food store. You have 62 left, you go for a meal at McDonalds. They look at your cash and says: Nah, no good.

Would it be fun?

The point is that once bitcoins or cash has been stolen, it's still good. You can only prove bitcoin theft on the first hop, once it moves through more addresses, you cannot know if the original thief has them or if he sold them to someone else innocent.

The only case I can think of is if an exchange receives coins that can be proven to be from a theft, and then freeze it immediately, but in most cases coins that are gone are gone, and that's how it must be.