Not the same. You can identify that money in one way or another sonetimes, all the time if its cash and you wrote down the serials. Fdic doesnt insure your money. It insures the value of your money in its jurisdictional institutuions in exchange for you letting them use that value. They just choose the risk level theyre willing to take. Take 100 dollar bill to the bank, write down the serial. Come back the next day and withdraw it. Different serial, not your money, your moneys value.
The decentralized nature of cryptocurrency means there is nowhere to turn. There is no serial only transactions. Coinage aside thats where one of the many failures of cryptocurrency falls. The dark nature of it ensures there will never be anything about it that makes one bitcoin identifiable from another, if that were to happen, it would collapse. Just wait until the bug is found that answers the initial question, and a duplicated and indiscernable wallet hits. Thats a matter of time. Then, noone even has to steal, they just invalidate your entire wallet with one transaction. With counterfeit money, you can identify it, destroy it, remove it from circulation without invalidating someone elses money. Thats why fiat and precious metal backed currencies have an accompanying authoritative enforcement agency. On Dec 7, 2017 8:42 AM, "Josh Reynolds" <[email protected]> wrote: Same as if somebody punches you and takes your wallet, or takes more than the 250,000K the FDIC insures out of your $20mil bank account. On Dec 7, 2017 8:26 AM, "Steve Jones" <[email protected]> wrote: > Recreating it is the same as counterfitting. If i lose 100 bucks while im > out. I cant wake up and when the hangover cures, just print a new bill. > Crypto currency is by nature "anonymous" whoever posseses it owns it, not > like a stock or bond thats got a trail of identifiable ownership. > This is why it will never function as an actual currency, its just a > digital commodity with no inherent safety net. Even a gold bar you can > stamp. One bitcoin is theoretically indiscernable from another, so even if > you tracked it, you couldnt prove ownership. With no central backing, even > if you could, theres no enforcement body to make anyone give it back.... > aside from a hard fork > > On Dec 7, 2017 8:17 AM, "Gino A. Villarini" <[email protected]> wrote: > > Right.. Same idea > > From: Af <[email protected]> on behalf of Matt Hoppes < > [email protected]> > Reply-To: "[email protected]" <[email protected]> > Date: Thursday, December 7, 2017 at 9:38 AM > > To: "[email protected]" <[email protected]> > Subject: Re: [AFMUG] Bitcoin Worth Millions Stolen Days Before US > Exchange Opens | Business News | US News > > Right. But this is digital. > > On Dec 7, 2017, at 08:24, Gino A. Villarini <[email protected]> wrote: > > Same as you steal paper money, you can’t deactivate the stolen notes and > draw yourself new ones … > > From: Af <[email protected]> on behalf of Matt Hoppes < > [email protected]> > Reply-To: "[email protected]" <[email protected]> > Date: Thursday, December 7, 2017 at 9:09 AM > To: "[email protected]" <[email protected]> > Subject: Re: [AFMUG] Bitcoin Worth Millions Stolen Days Before US > Exchange Opens | Business News | US News > > How do you steal bit coin it's digital currency. Can't you just deactivate > whatever was "stolen", and re-create it, this digital currency is > completely foreign to me. > > On Dec 7, 2017, at 08:07, Jaime Solorza <[email protected]> wrote: > > https://www.usnews.com/news/business/articles/2017-12-07/bit > coin-miner-nicehash-reports-hack-theft-of-its-wallet > Jaime Solorza > > >
