Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

The Man Who Solved Bitcoin’s Most Notorious Heist

wsj.com

Post reply on HN
Print view View original

31–40 of 47 posts

Re: The Man Who Solved Bitcoin’s Most Notorious Heist

#31

Post by rednerrus »

plankers wrote: post #7
knorker wrote: post #6

Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement. The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.

As a "bitcoin fanboi," I never claimed to not want the rule of law. I just don't want some unaccountable third party mucking about with the monetary policy of the currency I'm using. If anything, I'd like _more_ rule of law when it comes to holding central banks accountable when they fuck up.

Bitfinexed would like to have a word with you. If Bitfinexs wash trading or printing Tether as fast as they can to prop up the value of BTC isn’t mucking about in the currency you’re using, I don’t know what is.

Re: The Man Who Solved Bitcoin’s Most Notorious Heist

#32

Post by ams6110 »

knorker wrote: post #6

Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement. The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.

Rule of law and defense of rights and freedoms are things that even orthodox Libertarians recognize as an appropriate role of government. You can want a government to provide those things and also want it to stay out of your way in most of the rest of your life.

Re: The Man Who Solved Bitcoin’s Most Notorious Heist

#33

Post by vignesh_m »

close04 wrote: post #10
roenxi wrote: post #9

Earlier quoted context omitted.

Or even if it was a little bit of fairness in how the QE is distributed. For better or worse, America is the leading example of capitalism in practice. It undermines the whole brand of capitalism when they hand out 4 trillion to the banks then call it a day. Where does the integrity of the system come in to the debate? That sort of thing was meant to be a hallmark of the communists, not first world nations.

No, unfortunately it's perfectly capitalist. Because the premise of capitalism [1] is (extremely simplified) "help the capital holder because they will have more power to help the others". If an employer does better he will hire more people so more well being. Another basic capitalist concept is that politics should not influence capital but capital should influence politics. That's because who would know better how…

Idk why you're being downvoted when you're right. I guess people are incorrectly thinking you support this behaviour instead of simply stating how it is capitalist.

Re: The Man Who Solved Bitcoin’s Most Notorious Heist

#34

Post by vignesh_m »

robertAngst wrote: post #20
knorker wrote: post #6

Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement. The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.

>Moral of the story: No, people do NOT want the government out of their way. I could go for getting rid of the government in plenty of areas. Your statement seems a bit extreme given the amount of corruption in Medical and telecommunications.

Would alternative control by the private sector be better? There are tons of cases where private control of public services has been bad for the people (jails, schools etc).

Re: The Man Who Solved Bitcoin’s Most Notorious Heist

#35

Post by vignesh_m »

barking wrote: post #13

The guy goes on holiday from Russia to Greece and then after being arrested and extradition sought to the USA he's suddenly also wanted back in Russia on a minor charge. How suspicious is that?

Yes the Russians do it, but I remember the US doing the same thing multiple times. I guess no country wants their citizens to be tried elsewhere.

Re: The Man Who Solved Bitcoin’s Most Notorious Heist

#36

Post by vignesh_m »

loeber wrote: post #4
56chan4 wrote: post #3

There appears to be nothing drawing attention to the fact Mt Gox was originally a US football trading card platform which had little of the expected security features seen or required of many financial exchanges, so Mt Gox was a hack waiting to happen. As to whether the Russian was fitted up by others to serve an agenda remains to be seen.

> a US football trading card platform No, it was a Magic the Gathering trading card platform. That's literally what the name stands for: Magic the Gathering Online eXchange. MtGox.

Wow TIL

Re: The Man Who Solved Bitcoin’s Most Notorious Heist

#37

Post by knorker »

plankers wrote: post #7
knorker wrote: post #6

Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement. The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.

As a "bitcoin fanboi," I never claimed to not want the rule of law. I just don't want some unaccountable third party mucking about with the monetary policy of the currency I'm using. If anything, I'd like _more_ rule of law when it comes to holding central banks accountable when they fuck up.

Don't confuse you not agreeing with decision with authorities not being accountable.

And if you think unregulated exchanges aren't mucking with the market then I have a bridge to sell you.

Bitcoin is deliberately unaccountable. Someone did something we all agree should not be done? That sucks, we decided to mathematically prevent preventions of that.

And remind me, what happened to Ethereum to create Ethereum Classic? And apparently they are going to (or have already) done it again! It's capitalism for the poor, communism for the rich all over again.

And if you think central banks are unaccountable then why haven't they literally stolen all the money? With Bitcoin everything that can be stolen is. Central banks don't literally have armies.

Re: The Man Who Solved Bitcoin’s Most Notorious Heist

#38

Post by knorker »

robertAngst wrote: post #20
knorker wrote: post #6

Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement. The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.

>Moral of the story: No, people do NOT want the government out of their way. I could go for getting rid of the government in plenty of areas. Your statement seems a bit extreme given the amount of corruption in Medical and telecommunications.

I think you still don't want the government out of medical and telecom.

Examples: Your doctor sells you homeopathic remedy (i.e. water) and charges you all the money for it, saying it's real medicine. Oh, you say you'd Google the effectiveness before accepting? Sorry, no government to demand doctors don't flat out lie about what they give you.

Car accident? Sorry, pay everything you have right now or we won't even call your insurance company.

Telecom: Bob, CEO of the only company that sells phone service in your area, hates blacks so you can't have phone service.

You don't want "getting rid of government". You want good government.

Re: The Man Who Solved Bitcoin’s Most Notorious Heist

#39

Post by knorker »

windows_tips wrote: post #25
knorker wrote: post #6

Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement. The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.

Of course "bitcoin fanbois" want rule of law and law enforcement. Bitcoin is like the ultimate in law enforcement. Basically the only way to get the coin is through proof-of-work and ownership rules are rigorously enforced.

> Bitcoin is like the ultimate in law enforcement.

That's the stupidest thing I've heard all week. And it's been a long week.

Post reply on HN