Forums Chit Chat Bitcoin: does anyone get it?? Reply To: Bitcoin: does anyone get it??
#220
keith
10 Posts

yeah but they are tangible. Bitcoin is all online. Its only a matter of time before some other wizz cracks the code, gets ALL the bitcoins and blablabala. Happens all the time with banks now, cause of the digital money..but you cant physically remove a house or a field.

If somebody did manage to steal the whole stash of Bitcoin, who would he trade with? Nobody would want to accept Bitcoin from somebody capable of stealing it straight back again. So nobody would take Bitcoin in exchange for online goods or services, and no exchange would take Bitcoin in exchange for meatspace currencies.

And although you can’t physically remove a field (though you can physically remove any structure built on it, with enough time and effort), you can use various means to take the title to that land, effectively stealing it. You don’t take the patch of land somewhere else, but you become the owner of it, and then you can prevent the previous owner from making use of it.