$600M taken in largest DeFi hack to date

Re:$600M taken in largest DeFi hack to date by throw1547 on Tuesday August 10, 2021 @02:42PM (#28132573)

How could not all Bitcoin end up "lost" (keys lost) or stolen (by hackers)?

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Re:$600M taken in largest DeFi hack to date by colinmhayes on Tuesday August 10, 2021 @03:27PM (#28133087)

Eventually all bitcoin will be lost. It just might take a while.

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Re:$600M taken in largest DeFi hack to date by wmf on Tuesday August 10, 2021 @02:54PM (#28132713)

Presumably the hackers will recirculate their stolen Bitcoin by spending/cashing out. Likewise Bitcoin seized by law enforcement is auctioned.

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Re:$600M taken in largest DeFi hack to date by MSEmployed on Tuesday August 10, 2021 @03:10PM (#28132903)

"Money has three primary functions. It is a medium of exchange, a unit of account, and a store of value"

Crypto/BitCoin currently delivers mostly on the last one "store of value". So the hackers keep them. Indefinitely.

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Re:$600M taken in largest DeFi hack to date by wyager on Tuesday August 10, 2021 @02:47PM (#28132614)

Because Bitcoin is much better designed and implemented than 99% of altcoins/shitcoins/tokens/etc.

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Re:$600M taken in largest DeFi hack to date by Tepix on Tuesday August 10, 2021 @02:59PM (#28132773)

It's lacking features.

You could argue that paper money lacks the features of bitcoins so it's easier to lose your funds inadvertently with bitcoin.

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Re:$600M taken in largest DeFi hack to date by lottin on Tuesday August 10, 2021 @03:58PM (#28133514)

Shitcoins use literally the same source code as bitcoin.

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Re:$600M taken in largest DeFi hack to date by andy81 on Wednesday August 11, 2021 @05:53AM (#28140060)

Not completely true.

Dogecoin for example has some config changes to block size that make transactions cheaper.

It's factually "better" as far as code goes.

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