That is the game the big banks and super rich have been playing with the stock market since its inception. Nothing new.
Chris Wright Network Administrator From: Af [mailto:af-boun...@afmug.com] On Behalf Of Mathew Howard Sent: Thursday, December 07, 2017 11:03 AM To: af Subject: Re: [AFMUG] Bitcoin Worth Millions Stolen Days Before US Exchange Opens | Business News | US News Seems to me that if somebody (with unlimited funds, presumably) wanted to kill it, the best way would be to run it up to crazy high prices, and then crash it... that's going to scare most people off for a long time. On Thu, Dec 7, 2017 at 12:29 PM, Brian Webster <i...@wirelessmapping.com> wrote: Or maybe the World Bank doesn’t like this one bit and sponsored the hack to scare people and have them running back to government sponsored paper money. Can’t imagine Rothschild’s were going to just sit there and let something they didn’t control take over like this. Their empire is way too big to just sit still and let a new system take hold. Thank You, Brian Webster From: Af [mailto:af-boun...@afmug.com] On Behalf Of Steve Jones Sent: Thursday, December 07, 2017 11:10 AM To: af@afmug.com Subject: Re: [AFMUG] Bitcoin Worth Millions Stolen Days Before US Exchange Opens | Business News | US News Im wondering if it wasnt an internal graft. Josh was just nearing his payout, when this happenned hes like meh. How many thousands of others were in the ame spot. The wallet gets miraculously recovered with an apology to those who lost their near payout with a promise of "we will try harder" Thieves always doing thievy shit and stuff On Thu, Dec 7, 2017 at 9:33 AM, Carl Peterson <cpeter...@portnetworks.com> wrote: Pretty much. A good exchange keeps the vast majority of their funds offline, i.e on a usb key with a paper copy in a safe, and only keeps whatever float they need online and insures it. On Thu, Dec 7, 2017 at 10:27 AM, Robert <i...@avantwireless.com> wrote: So, if I have this right, someone cracked into someones "wallet" got their encryption key and used it to generate a new "transaction" that creates a new owner of the sum of bitcoin with a new encryption key and that act is added to the blockchain distributed database? On 12/7/17 6:59 AM, Steve Jones wrote: 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" <j...@kyneticwifi.com <mailto:j...@kyneticwifi.com>> 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" <thatoneguyst...@gmail.com <mailto:thatoneguyst...@gmail.com>> 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" <g...@aeronetpr.com <mailto:g...@aeronetpr.com>> wrote: Right.. Same idea From: Af <af-boun...@afmug.com <mailto:af-boun...@afmug.com>> on behalf of Matt Hoppes <mattli...@rivervalleyinternet.net <mailto:mattli...@rivervalleyinternet.net>> Reply-To: "af@afmug.com <mailto:af@afmug.com>" <af@afmug.com <mailto:af@afmug.com>> Date: Thursday, December 7, 2017 at 9:38 AM To: "af@afmug.com <mailto:af@afmug.com>" <af@afmug.com <mailto:af@afmug.com>> 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 <g...@aeronetpr.com <mailto:g...@aeronetpr.com>> wrote: Same as you steal paper money, you can’t deactivate the stolen notes and draw yourself new ones … From: Af <af-boun...@afmug.com <mailto:af-boun...@afmug.com>> on behalf of Matt Hoppes <mattli...@rivervalleyinternet.net <mailto:mattli...@rivervalleyinternet.net>> Reply-To: "af@afmug.com <mailto:af@afmug.com>" <af@afmug.com <mailto:af@afmug.com>> Date: Thursday, December 7, 2017 at 9:09 AM To: "af@afmug.com <mailto:af@afmug.com>" <af@afmug.com <mailto:af@afmug.com>> 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 <losguyswirel...@gmail.com <mailto:losguyswirel...@gmail.com>> wrote: https://www.usnews.com/news/business/articles/2017-12-07/bitcoin-miner-nicehash-reports-hack-theft-of-its-wallet <https://www.usnews.com/news/business/articles/2017-12-07/bitcoin-miner-nicehash-reports-hack-theft-of-its-wallet> Jaime Solorza -- Carl Peterson PORT NETWORKS 401 E Pratt St, Ste 2553 <https://maps.google.com/?q=401+E+Pratt+St,+Ste+2553%0D+Baltimore,+MD+21202&entry=gmail&source=g> Baltimore, MD 21202 <https://maps.google.com/?q=401+E+Pratt+St,+Ste+2553%0D+Baltimore,+MD+21202&entry=gmail&source=g> (410) 637-3707 <tel:(410)%20637-3707>
