How do we know it's not the owner of input.io cashing out?
You don't! This is the risk of transferring your money to someone without any sort of regulations whatsoever.
Inputs.io hacked – 4100 BTC stolen
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Re: Inputs.io hacked – 4100 BTC stolen
#22Earlier quoted context omitted.
But they are traceable. There is a public record of every wallet address the bitcoin has touched. If those who it was stolen from reveal their wallet addresses, it should be possible to track down the coins and find out who the thief was.
You can still use a "mixing" service, which takes many coins from many sources and mixes it in a way that you can't tell anymore what is the source of Bitcoins you received. Blockchain.info operates one of these.
Interesting thought. Could there be "shunned" Bitcoins where, if they held certain blacklisted wallets in their history, businesses and users would choose not to accept them?
One could imagine people still choosing to trade in these Bitcoins, but that such a penalty would forevermore reduce their value next to "unshunned" coins. Could legit businesses and people using Bitcoin collectively reduce the value of stolen Bitcoins in this fashion to discourage it without directly discovering who misappropriated them...?
Re: Inputs.io hacked – 4100 BTC stolen
#23I don't know what you expected, Bitcoin enthusiasts.
You bought into a system where coins could be permanently lost because you forgot a password.
You bought into a system where the government cheerfully gained control of a large share of the market by simple confiscation.
You have recreated money. But you aren't even good at it! You still think that simple cryptography will excuse you from the fact that you're greedy bastards.
The reason I hate Bitcoin is that it intentionally promotes a counter-establishment treatise, and you have the batshit insane gall to claim that it is different.
I'm venting.
Re: Inputs.io hacked – 4100 BTC stolen
#24Anybody wondering how long it will take for Bitcoin to gain enough respectability for the FBI or Secret Service to get involved after hacks like this? If the same amount of money was stolen from a normal bank, it'd likely be covered by every news outlet.
I don't think it is the FBI a BitCoin thief needs to fear.
That said, it is fascinating to watch people getting caught out when they have a "few dollars" in BitCoin and now its "a few hundred thousand dollars" suddenly the security requirements change dramatically. One would hope that would be bitcoin wallet holders are taking notes and things like daily security audits are the new normal.
Re: Inputs.io hacked – 4100 BTC stolen
#25is a trend.. start up a legit Bitcoin service. Run it well with high aims, etc, etc to make an impression to the public. Consciously create a loop hole and hack your own Bitcoin service and close it down.
Re: Inputs.io hacked – 4100 BTC stolen
#26How do we know it's not the owner of input.io cashing out?
Here is his proof that it is not an inside job: https://bitcointalk.org/index.php?topic=283756.msg3505394#ms...
Re: Inputs.io hacked – 4100 BTC stolen
#27This is exactly why not everyone should learn how to code and be a developer.
No it isn't. Its why you shouldn't keep your money in places that aren't secure.
Re: Inputs.io hacked – 4100 BTC stolen
#28Earlier quoted context omitted.
You can still use a "mixing" service, which takes many coins from many sources and mixes it in a way that you can't tell anymore what is the source of Bitcoins you received. Blockchain.info operates one of these.
Interesting thought. Could there be "shunned" Bitcoins where, if they held certain blacklisted wallets in their history, businesses and users would choose not to accept them? One could imagine people still choosing to trade in these Bitcoins, but that such a penalty would forevermore reduce their value next to "unshunned" coins. Could legit businesses and people using Bitcoin collectively reduce the value of stolen B…
If you think that a pile of anonymous people on the internet are going to respect a 'stolen' flag with no real downsides, I've got a bridge to sell you...
Also, this is ignoring the entire problem of 'who decides what stolen means in a totally decentralized protocol?' That's non-trivial in and of itself.
Re: Inputs.io hacked – 4100 BTC stolen
#29This is exactly why not everyone should learn how to code and be a developer.
I think it's exactly why they should.
If these unfortunate folk knew their internet security they would know better than to pump their money into random internet wallets, despite claims that it's the "most secure wallet ever created".
Re: Inputs.io hacked – 4100 BTC stolen
#30So I have seen several of these stories pop up and I am still kind of confused by them. Are these hackers actually getting "real" money at some point? Are they able to cash out these bitcoins to USD or something else in a reasonable time-frame, or do they simply have a large amount of "fake" money that they can use for very specific goods and services?