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Message
re: Major glitch in Bitcoin network sparks sell-off
Posted on 3/12/13 at 6:10 pm to el duderino III
Posted on 3/12/13 at 6:10 pm to el duderino III
quote:
you realize, as bitcoin becomes more widely known, and especially as options trading sites become more reliable, it's inevitably going to attract these people called "real criminals" - as opposed to the majority of it's current following, which is comprised of faux libertarian hacker wannabes and computer nerds. and eventually, one of them will see the opportunity for the easiest heist of all time. Somebody who "knows people" gets wind of an early adopter or someone with a serious mining rig, who they know to be sitting on a big stash of BTC. They steal it right? no, that would be dumb. instead, they short the frick out of bitcoin, just go over to his house, stick a gun to his head, and say, "sell all of your bitcoin." Profit. Then just leave. they dont even need to kill him. in fact, it would be a lot smarter to do nothing to him, since there would be zero evidence of anything that just took place.
since there would no announcement of a security breach or any other of the "fluke" crashes that have occurred, there would be no "reset" of any kind by the exchanges, and with the trading volume what it is, it really wouldnt take that much BTC to trigger panic and a massive selloff. it would be the perfect crime. no possible recourse for anyone involved whatsoever, and no evidence
I'll be on pins and needles.
Posted on 3/12/13 at 6:38 pm to WikiTiger
you might be accumulating more pending future "i told you so's" than joshuachamberlain
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