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So the answer is for less than $3,000 and I could potentially gain millions of dollars worth of Bitcoin Gold? What are the downsides? Is this illegal?
by thebigspacefuck 8y ago
So the answer is for less than $3,000 and I could potentially gain millions of dollars worth of Bitcoin Gold?
What are the downsides? Is this illegal?
- nmjohn 8y agoCommitting fraud is very much illegal, yes. It may be hard to prove and prosecute, but it is undoubtedly illegal. (Though IANAL.)
- hackerman12345 8y agoCan utilizing features ever be fraud?
- Improvotter 8y agoI'm not sure. Is utilizing the feature that no guard is watching that expensive bracelet in the store illegal?
- glandium 8y agoBut in all countries where crypto-currencies are not considered money, is it illegal to double-spend bits?
- MereInterest 8y agoIf I find a funny-looking stone, and promise to give it to you in exchange for goods, it would be fraud to give the funny-looking stone to somebody else instead. Cryptocurrencies are no more "money" than the funny-looking stone, but one could still commit fraud with them.
- RobLach 8y agoStealing a bracelet from a store is made illegal typically through the force of a state.
- detaro 8y agoAs is fraud.
- RobLach 8y agoWho are you defrauding? Under what jurisdiction? The ability to be 51% attacked is a feature of the design. You expect all the actors to commit enough computing capacity to prevent such an attack as it’s in their own best interest.
- lagadu 8y agoDepending on the jurisdiction it might be fraud or not. It's effectively the same as writing a check that you know doesn't have funding behind it.
- lawlessone 8y agostill fraud.
- lolc 8y agoYou can't directly steal or create coins. Except for the coins you get for your branch of the blockchain if it becomes accepted. The trick is that you can double-spend. The downsides? You need capital to spend and double-spending is fraud.