Bitcoin Battle
A lot has happened since I wrote my introduction to BitCoin, let's do a quick catchup on current events and
so some quick analysis.
Trading at MtGox has stopped and they've filed for bankruptcy after losing 850,000 bitcoin.
With 12,425,000 bitcoin in circulation, that was ~ 6.84% of the "currency" lost in a single heist. And we thought it was bad when a man accidentally threw away his laptop containing 7,500 coins that he'd mined himself.
Assuming the laptop gets destroyed, we can assume those coins will never be in circulation again.
It's also worth noting that a large chunk of coins were seized by the FBI from the Silk Road and it's operator the Dread Pirate Roberts, totaling around 173,655 coins. And it looks like it happened again this week for another 4,000 bitcoin.
And don't forget the first 1,000,000 coins or so that are believed to still be in possession of fabled bitcoin inventor Satoshi.
It seems like large chunks of the currency are held by a few people or groups.
Now I wonder, since the ledge is completely public, if we couldn't identify stolen coins and blacklist them from being used in future transactions?
BitCoin is so hot, it seems that even the TSA want's some of the action, actually looking for the cryptocurrency during screening, if that makes any sense at all.
Trading at MtGox has stopped and they've filed for bankruptcy after losing 850,000 bitcoin.
With 12,425,000 bitcoin in circulation, that was ~ 6.84% of the "currency" lost in a single heist. And we thought it was bad when a man accidentally threw away his laptop containing 7,500 coins that he'd mined himself.
Assuming the laptop gets destroyed, we can assume those coins will never be in circulation again.
It's also worth noting that a large chunk of coins were seized by the FBI from the Silk Road and it's operator the Dread Pirate Roberts, totaling around 173,655 coins. And it looks like it happened again this week for another 4,000 bitcoin.
And don't forget the first 1,000,000 coins or so that are believed to still be in possession of fabled bitcoin inventor Satoshi.
It seems like large chunks of the currency are held by a few people or groups.
Now I wonder, since the ledge is completely public, if we couldn't identify stolen coins and blacklist them from being used in future transactions?
BitCoin is so hot, it seems that even the TSA want's some of the action, actually looking for the cryptocurrency during screening, if that makes any sense at all.