_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.
^^^^^teh fook^^^^^^ do you owns a share in a company called dollar when you get paid for your days work? do you get shares in exxon when you give dollar for petrol? and do you won a share in a shop when you pay them money nooooo ist goods-services
just to let you all know someone offering ipo investments and services for anything as afformentioned pixie farts whom has taken payment and then delivered no results is theft be deception which applys to all living creatures bearing a name be it a govt registered alias or a common law name and as such a common law court or small claims court can find in favour of the defendant quite easially meaning you may present pitchforks at the door if this is how you deem to get funds back the defendant may not be forced to pay back the stolen ipo btc as you say because it itself without exchanges and public faith in btc it is not a currency in its own right. but dont forget the fix it again tomorrow dollar you have in your pocket too holds the same meaningless intrinsic value as a btc just the fact of its long use and public trust and faith in it holds it higher than btc without this your dollar would be nothing more than a pixie fart.
Moreover what is the judge going to declare? Pay back the bitcoin? I don't think there is a bitcoin bank account tied to the LLC that can be frozen.... there has to be cash (or physical goods like siezed graphics cards) in the shop/property for any financial dispute to be resolved right? Am I missing something fundamental here?