Post
Topic
Board Gambling
Re: DiceBitco.in | BE THE BANK ! | 1% House Edge | 7500+ BTC BANKROLL | INSTANT!
by
Cluster2k
on 08/09/2014, 03:36:34 UTC
Sorry but as this forum loves to say "Bitcoin can't be enforced by the police or government"

You going to tell them that your imaginary money, not recognized by the U.S. government, was taken by some guy online?

I might as well report someone stealing my runescape gold then, sorry.

Indeed, that is true.  We can't have it both ways by seeking regulation and protection while using a commodity that sits outside of government.  There are still some exceptions, such as PirateAt40's theft and his argument that nothing of value was stolen because bitcoins are l0lz buckz.  That was shot down by a US court.

That gets down to the very crux of the matter: the only thing bitcoin has and the businesses that choose to use it is trust.  Once the trust is gone there is virtually no way to get it back again.  It blows my mind how stupid the alleged rogue developer at DB could be.  Here is a business that mathematically cannot lose money over the long term, yet code changes were made that would certainly eventually be found and ruin the whole party for the thief.  The code was active all of what, maybe 15 days?  The potential profit for the thief was much greater if they had just left the 1% house edge in place.