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Source: cointelegraph.com ·
A Russian court turned down a request from a victim of a 100 Bitcoin theft seeking restitution, with the court arguing that cryptocurrencies have no legal status
Dennis Parker⚡️ - @Xentagz
4 weeks ago
RT @lopp: Common sense is not a strong suit of bureaucracy. https://t.co/OQOYFxNaZQ
2
15
Jameson Lopp - @lopp
4 weeks ago
Common sense is not a strong suit of bureaucracy. https://t.co/OQOYFxNaZQ
0
2
Mistbourne
Tin | r/pcgaming 81 4 weeks ago
Interesting. If they had stolen a ring worth one mil would they have had to pay? The guys lawyer might simply have chosen the wrong angle in trying to call BTC a currency.
1
hashparty
Platinum | QC: CC 306, BTC 91, XMR 22 | r/Politics 4 weeks ago
Government's only function is to protect private property.
1
BitttBurger
Platinum | QC: BCH 1968, BTC 989, CC 245 | BSV 9 | 4 weeks ago
Bitcoin is literally classified as personal property by the IRS in the USA. Interesting to see that it’s not in Russia.
1
FluffyGlass
Gold | QC: ETH 26, BTC 18 | TraderSubs 17 4 weeks ago
In Soviet Russia bitcoin owns you!
3
Beljora
Silver | QC: CC 36 | VET 43 4 weeks ago
Forgive Russia; they're coming off a Marxist hangover and don't have a good grasp of property
3
Federal_Pirate
Gold | QC: BTC 26 | r/Politics 15 4 weeks ago
Hold up, does Russia collect capitol gains tax on crypto?
1
BullionRepublic
Redditor for 2 months. 4 weeks ago
This is surprising. But then again it's Russia.
1
dkass
Bronze | QC: CC 16 4 weeks ago
Russians with alot of Bitcoin will flee the country taking there money elsewhere and those who can't afford to do that will own guns.
1
Mordan
Gold | QC: BTC 197, XMR 24 | BCH critic | r/Java 1 4 weeks ago
sadly Russia is going down the path of institutionalized corruption.
The constitution does not mean anything anymore.
They want total control and this story helps paint crypto in a bad light.
5
understanding_pear
Gold | QC: BTC 45 | r/Buttcoin 12 | r/Programming 4 weeks ago
you are about 20 years late with that observation
1
CorruptedArc
Tin | r/WallStreetBets 94 4 weeks ago
So if you are a Russian exchange you could just close everyone's accounts and run?
3
SaneLad
Gold | QC: CC 17, BTC 15 | r/WallStreetBets 188 4 weeks ago
I just had an amazing business idea.
4
Alex_O7
Bronze | EOS 9 4 weeks ago
Yes for Russian it is OUR Property, there is no individual property 😂
1
onebalddude
Gold | QC: CC 42 4 weeks ago
Next weeks headline:
"Russian Judge Kidnapped and Forced to Buy and Send 99.7 BTC to Kidnapper."
1
TriSamples
Gold | QC: BTC 24, CC 17 | r/Politics 21 4 weeks ago
It's not property, it's a contract. You can still owe 100btc if it's proved you took it. The issue is there's no mechanism to reverse the transaction.
0
milkonyourmustache
4 weeks ago
It's going to be open season on cryptocurrency holders in Russia. 8 - 10 years in prison and you get to come home to whatever you managed to steal, in this case 99.7BTC? There will be carnage.
71
oafsalot
Bronze | r/Privacy 36 4 weeks ago
Yes but they can steal bitcoins belonging to anyone, from anywhere.
7
onetimeonly1zwo3
Gold | QC: XRP 30, CC 24 4 weeks ago
Only for Americans. The rest of the world is human.
1
dontlikecomputers
never pay bankers or miners 4 weeks ago
Technically true as all anyone has is a key, nobody has possession of Bitcoin itself. Theft of a key would be a crime though I suspect.
0
Heco1331
4 weeks ago
Are you kidding me? Following that logic nobody owns their own money at their bank account, because all they have is possession of their pin code. Jesus Christ...
27
jarfil
Platinum | QC: BTC 176, BCH 22, CC 20 | r/Linux 29 4 weeks ago
With fractional reserve and credit as money, it's even funnier than that: not even the bank owns all the money you own on your own bank account, because all they have is a contracted right to write a certain number in a certain ledger at a certain point in time, which usually doesn't match your full balance.
3
ImbeddedElite
Bronze | r/UnpopularOpinion 50 4 weeks ago
...is somebody gunna tell him or should I?
0
FixedGearJunkie
Platinum | QC: BTC 126 | r/Buttcoin 7 4 weeks ago
Tell them about the haircuts that occurred during the last manufactured financial crisis in Cyprus?
2
ImbeddedElite
Bronze | r/UnpopularOpinion 50 4 weeks ago
Of course. What else would I be telling them about?
1
ImbeddedElite
Bronze | r/UnpopularOpinion 50 4 weeks ago
Perfect argument. Completely sound and rational, your intellectual superiority is at a level I dare not dream of.
2
ImbeddedElite
Bronze | r/UnpopularOpinion 50 4 weeks ago
Holy shit. Please do not tell me you did research and still somehow believe you own the money in your bank.
If **anyone** at a high enough position at your bank was to determine you got that money through some sketchy method, even just because they felt like it, you would be completely and utterly fucked. You’d have to take them to court to get it back and *even if you did win*, you’d spend more than the average American has in their account, in court fees.
You don’t own shit. It’s a piece of paper or a number on a screen. Wake up.
4
Heco1331
4 weeks ago
I really dont know in which world you live in, but I assume you wanna mean that "the money in your bank account doesnt belong to you?" If so, you are delusional.
0
dontlikecomputers
never pay bankers or miners 4 weeks ago
You don't own the money in your bank account, but that is a separate issue. You also don't just have a pin code for your bank, you have a contract. There is also legislation in most places specifically for banking which do not apply to cryptocurrency anywhere yet as far as I am aware.
38
okean123
Gold | QC: CC 101 4 weeks ago
Well you can't steal knowledge.I agree though, it can hardly be a theft, when the key is the only way to access it.
0
alucard291
Silver | QC: CC 42 | r/Buttcoin 202 | r/AMD 80 4 weeks ago
The only reason I still come to this place is for hot takes like this one.
I swear to god this sub is becoming /r/Iam14andthisisdeep's sister sub by the day.
Yes you can steal knowledge. It is a thing that gets done on the daily, and there are believe it or not even laws against it.
And yes, you can steal the key. You simply torture a person until they give it up.
1
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