Hello Bitcoin-enthusiasts,
I am new to this mailing list and would like to share/discuss an idea that
crossed my mind today.
To lower the rate of thefts in the future there are 2 possible ways:
1. Increase the security. E.g. use of multi sig wallets.
2. Decrease the value of thefts.
For 2. stolen BTC have to be identified and there has to be a penalty for
them.
There are two problems with it:
1. Who has the responsibility to declare if a BTC is stolen or not and where
is the information available?
2. BTC can spread over so many accounts easily and get new owners that it
becomes very difficult to actually
identify all stolen BTC and the penalty could affect people that didn't
stole them.
The idea:
1. The big damage can be caused by hacking the biggest exchanges that hold
most of the Bitcoins (Coinbase, Kraken etc.).
These exchanges should maintain and share a central database, where they
mark BTC as stolen.
This database can be read by anyone but only big and legally trustworthy
services (exchanges) maintain them.
2. To lower the possibility to spread stolen BTC, clients can (optionally)
check the database and refuse BTC that are listed here.
Of course the theft will try to spread the BTC right after the theft.
Therefore it should be possible to REFUSE to receive Bitcoins
that have been involved in any transaction within the last 24h/48h (or just
send them back). This way, if a big service detects a theft, it can act
within
24h/48h to submit this info into the central database and the theft could
not benefit from the stolen coins anymore.
This is just an idea but it would be great to hear your thoughts!
Thanks,
Stefan
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