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In a decentralized system, 'theft' is only a moral construct, not a legal one. And who will enforce any repercussions?

• hnbad 5y ago
  Wait, do you also think international companies are above the law? States very much care what's going on within its borders, if its via services hosted outside them or not. And in some cases states will even care about what their citizens do outside their borders. For example, engaging in child sex tourism can have legal consequences even if the actual abuse happens in a foreign country. Decentralization isn't magic. States will enact and enforce laws within their borders and they will have more tangible effects than any so-called "smart" contract.
  • folli 5y ago
    I don't see how that relates to my statement. In the trustless and decentralized system of Bitcoin (and other blockchain implementations), there is no concept of theft. If you misplace your private key you're on your own. There's no central authority to turn to. Similar if someone cracks your private key. That's the entire idea of the technology. If you use bitcoin for money laundering, you're not gonna get in trouble with any bitcoin nodes. What a nation state will do if they find out is however a very different topic.
    • DarylZero 5y ago
      There's no concept of theft in the physical material of gold either.