Quote from: Doug Rudd on March 03, 2014, 08:24:22 PM

Quote from: bawam on March 03, 2014, 06:09:23 PM

This is exactly why we NEED government and regulation

You can't have it both ways. Bitcoin was explicitly invented as a way to exchange tokens of value outside of any regulatory system. Either a money system is outside of the government or its inside of the government. If you have all the functions of government private property rights and justice system involved then there is no need for a decentralized blockchain. It would be a waste of time. You can go one way or the other way, but you can't have both.

Actually, the reality is that we always have it both ways. There is anarchy amongst government and government amongst anarchy. For me, utopia would be a life where we all follow a few simple rules, one of them being the Golden Rule.

In the case of Bitcoin, we are at least governed by math. However, if theft becomes prevalent, and the society of Bitcoin cannot prevent a theft of this size, then Bitcoin is no better than FIAT. Surely a Bitcoin "court of law" could be established to review the Blockchain and other evidence to determine rightful ownership and return it to the original owner. Same should be said for LOST Bitcoin. If a person accidentally throws their Bitcoin away into the trash, it should be recoverable provided the person can prove ownership. We might give up privacy for a system like this, but quite frankly, isn't every single action on the Internet recorded anyhow?

The NSA and other such entities will surely be able to tell us what happened in this heist.