@MH, You are thinking about bitcoin like it exists or is something you have. It doesn't work that way. It is just a ledger of transactions but it takes a huge amount of work to find the hash to write a transaction and every new transaction includes data from the previous transaction so you can't just re-write a transaction without re-writing all the transactions that come after it.
What you have is a private key that enables you to move move BTC from one account to another. You broadcast that into the network and once someone includes that transaction in the chain it is done. On Thu, Dec 7, 2017 at 9:43 AM, Mathew Howard <[email protected]> wrote: > Yeah, but most of that applies to paper US dollars too. The main > difference being that there's nothing like an FDIC insured bank where you > can store you're Bitcoin without having to worry about it being stolen. > > On Thu, Dec 7, 2017 at 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 >> >> >> > -- Carl Peterson *PORT NETWORKS* 401 E Pratt St, Ste 2553 Baltimore, MD 21202 (410) 637-3707
