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That's like saying: If you know the vault combination at a bank, the content is yours. In the end, you still have to obey the laws of the land. No mater how de

That's like saying: If you know the vault combination at a bank, the content is yours. In the end, you still have to obey the laws of the land. No mater how decentralized some tech is, it's still attached to some country, and thus its laws.

weego 8y ago
You really don't have to if your own state has a complete disregard for the laws that a third party state with a grievance tries to apply to you, which is the reality for a lot of people.
jfk13 8y ago
That assumes there's some state that accepts or claims the responsibility of arbitrating issues of cryptocurrency ownership, and has both the capability and the will to enforce its rulings. Which seems like just the kind of dependency many crypto-enthusiasts are trying to avoid; and it's unclear to what extent states are interested in taking on that responsibility. Without that, it really is a wild west out there, where anyone who can guess my key is free to claim my wealth. That model may appeal to some people, but I doubt the general public will care for it.
- Semaphor 8y ago
  There have already been several cases of the police getting involved in crypto thefts. Here is an example: https://cointelegraph.com/news/international-police-collaboration-leads-to-arrest-of-suspect-in-11-million-iota-theft https://cointelegraph.com/news/international-police-collabor...
  - thinkmassive 8y ago
    It sounds like that guy created what appeared to be a legitimate wallet creation service, and then emptied the accounts of anyone who used it. That definitely sounds fraudulent. We don’t know if the person “guessing” Ethereum keys is also the one generating them, but from the article it seems there are multiple people scanning for known keys, so at least some of them aren’t intentionally duping users.
  - creeble 8y ago
    Was the coin ever recovered? Cryptocoin theft also seems have the same advantage as a buried bag of cash in that criminal prosecution doesn't prevent you from still owning the goods. I suppose there's restitution, depending on venue.
    - Semaphor 8y ago
      Haven't heard anything.
- couchand 8y ago
  In general governments are more than happy to arbitrate civil issues of ownership regardless of the property, but there may not be much appetite to pursue criminal investigation.

weego 8y ago

You really don't have to if your own state has a complete disregard for the laws that a third party state with a grievance tries to apply to you, which is the reality for a lot of people.

jfk13 8y ago

That assumes there's some state that accepts or claims the responsibility of arbitrating issues of cryptocurrency ownership, and has both the capability and the will to enforce its rulings. Which seems like just the kind of dependency many crypto-enthusiasts are trying to avoid; and it's unclear to what extent states are interested in taking on that responsibility. Without that, it really is a wild west out there, where anyone who can guess my key is free to claim my wealth. That model may appeal to some people, but I doubt the general public will care for it.

Semaphor 8y ago
There have already been several cases of the police getting involved in crypto thefts. Here is an example: https://cointelegraph.com/news/international-police-collaboration-leads-to-arrest-of-suspect-in-11-million-iota-theft https://cointelegraph.com/news/international-police-collabor...
- thinkmassive 8y ago
  It sounds like that guy created what appeared to be a legitimate wallet creation service, and then emptied the accounts of anyone who used it. That definitely sounds fraudulent. We don’t know if the person “guessing” Ethereum keys is also the one generating them, but from the article it seems there are multiple people scanning for known keys, so at least some of them aren’t intentionally duping users.
- creeble 8y ago
  Was the coin ever recovered? Cryptocoin theft also seems have the same advantage as a buried bag of cash in that criminal prosecution doesn't prevent you from still owning the goods. I suppose there's restitution, depending on venue.
  - Semaphor 8y ago
    Haven't heard anything.
couchand 8y ago
In general governments are more than happy to arbitrate civil issues of ownership regardless of the property, but there may not be much appetite to pursue criminal investigation.