_s3v3n_ : yes - relaunch Sunday March 9th - Dev + CEO MIA since last night
sonysasankan : you can't just go around making stuff up because you think it sounds right.
An IPO member thinks he can take legal action for stolen bitcoins. Well that "sounds wrong" to me. Or maybe I could be wrong... but I'm fairly certain bitcoin is not a Govt recognized currency that is backed up by legislation for misuse, theft, etc. You know of any laws that were passed recently by any states that declared bitcoins as an accepted commodity of value that can traded, etc. I'm all ears if you have!
The very nature of decentralization prevents any central authority to be able demand someone to pay up with an "or else..." attached to the sentence. So ya... it definitely "sounds right" when I say legal action is futile...
Virginia has statutes covering losses of commodities and other items which have a dollar value. It could be Pixie Farts, but if it's traded or otherwise has a provable fiat value in the state, it can be covered.
Hence why he has an LLC, to keep his nuts out of the boiler. If it was just an individual it would be a little harder, but with an LLC you just present your evidence and the judge hits the gavel and it's over in 5 minutes.
Hmmmm... interesting. But bitcoin by itself has no intrinsic value and neither is it a service with a fixed or hourly fee. It is not a recognized share of a company that has a stock value at the exchange either. The "Bitcoin Exchanges" out there are pretty much an escrow service that mediates the agreed upon transaction between two people. If I buy 1 BTC from someone for $700, I do not own a tiny percentage of the company called "Bitcoin" whose worth can be calculated based on their quarterly/annual income. So basically how valuable it is, is decided by me and the other person who is paying for it. It can be anything from $5 to $750. So how is a fiat value determined.