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Is this actually illegal? And if so, how would a court proceeding look like? I am pretty sure especially in the US, if you have money for a good lawyer, you can

Is this actually illegal? And if so, how would a court proceeding look like? I am pretty sure especially in the US, if you have money for a good lawyer, you can wiggle yourself out of this one pretty easily. Just imagining the jury overseeing this... Who is even the defendant? And what is the crime? I imagine if such a case ever goes to court its going to be very interesting, because for the government, this should be like being stuck between a rock and a hard place. Acknowledging this as "theft" kindof undermines their agenda to kill off alternative currency. There is also another dimension to it. "Double spending" conceptually seems very similar to the government printing money, devaluing the dollar.

sukilot 6y ago
Depends where the spending went. It's fraud to agree to buy something and not pay. But who is selling anything for Eth? > Acknowledging this as "theft" kind of undermines their agenda to kill off alternative currency. Whose agenda?
- marta_morena_25 6y ago
  > Whose agenda? Governments generally have no interest in alternate currency systems that are not under their control, taking off. So far, crypto currency has been flying under the radar and the ones that have broad support from financial institutions go against the very idea of Bitcoin and Etherum, i.e. they are not providing much of the benefit that supporters of crypto currencies are interested in.
  - xiphias2 6y ago
    While it's true for the central banks (that Bitcoin is the competitor of), many of the big financial institutions are getting envious of the fees that Coinbase charges. Total Coinbase fees already went over Intercontinental Exchange fees in the last cryptocurrency bubble (because of the large margins).
- storedbox 6y ago
  It's ETC. ETH is a separate currency.
shawabawa3 6y ago
Double spending is nothing like printing money And it would be trivial to convict on this - they deposited huge sums into exchanges, traded them for another currency, then double spent the deposit It's just theft

sukilot 6y ago

Depends where the spending went. It's fraud to agree to buy something and not pay. But who is selling anything for Eth? > Acknowledging this as "theft" kind of undermines their agenda to kill off alternative currency. Whose agenda?

marta_morena_25 6y ago
> Whose agenda? Governments generally have no interest in alternate currency systems that are not under their control, taking off. So far, crypto currency has been flying under the radar and the ones that have broad support from financial institutions go against the very idea of Bitcoin and Etherum, i.e. they are not providing much of the benefit that supporters of crypto currencies are interested in.
- xiphias2 6y ago
  While it's true for the central banks (that Bitcoin is the competitor of), many of the big financial institutions are getting envious of the fees that Coinbase charges. Total Coinbase fees already went over Intercontinental Exchange fees in the last cryptocurrency bubble (because of the large margins).
storedbox 6y ago
It's ETC. ETH is a separate currency.

shawabawa3 6y ago

Double spending is nothing like printing money And it would be trivial to convict on this - they deposited huge sums into exchanges, traded them for another currency, then double spent the deposit It's just theft