lundi 3 mars 2014

Confused about Bitcoin

I am not trolling. :) But I am truly confused about Bitcoin, and recent events regarding bitcoin theft.



On one hand, I read Marc Andreessen writing in New York Times (underline mine):

"... Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer."



If Bitcoin is transparent and traceable, how can anyone steal or lose bitcoins? If every single Bitcoin transaction that gets made is recorded at Blockchain.info, isn't provinga theft a slam dunk? Once a theft (basically an un-authorised transfer) is discovered, why not just have that transfer reversed?



Note: I am not asking, "how the theft happened?" I realize that nothing is absolutely secure. I am asking, once the theft was discovered, why can't it be reversed? Why can't the paper trail be followed? Is Bitcoin less transparent and less traceable than its proponents claim?





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