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The key is literally the bitcoin. So if you own the key, you own the bitcoin. Duh! And if you lose your key, you lose your bitcoin. That's what it means to own
by koonsolo 5y ago
The key is literally the bitcoin. So if you own the key, you own the bitcoin. Duh! And if you lose your key, you lose your bitcoin. That's what it means to own something.
And if you lose your gold bar or coin, you also lose your gold.
- foepys 5y agoNo, you are absolutely wrong. Owning something is way beyond having access to it. If I leave my bike unlocked and somebody took it, it would still be stealing.
- koonsolo 5y agoso is stealing private keys
- foepys 5y agoSo crypto currencies don't work without a working legal system to back it up? Why the hassle with ever increasing transaction logs, and decentralization with all its drawbacks then?
- keymone 5y agowhat are you talking about? the concept of ownership exists outside of any legal system. legal system is there to have a recourse if your ownership rights were infringed upon, regardless of whether it was gold or bitcoin or sheep.
- koonsolo 5y agoThey work with and without a legal system, and you can still steal them. When I know you stole my bitcoins, I won't go through the legal system either ;D