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    Author Topic: Red list = legitimised Ransom Bandits: perverse incentive to taint coins  (Read 1134 times)
    Carlton Banks (OP)
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    November 15, 2013, 10:23:23 PM
     #1

    If the Red list Authorities, as proposed for discussion by Mike Hearn, become reality, they will need to fund themselves somehow (private worldwide currency regulators aren't going to get state local public money). So what happens if they start charging fees to de-list your tainted coins? They will have to fund themselves somehow.

    Suddenly, they have a perverse incentive to surreptitiously red-list as many coins as they can fabricate the faked evidence to do so. And the bigger they become, the more resources they can use to do it. The more faked taint they spread around, the more Bitcoin gets dragged into the mud.

    Great work Mike.

    Vires in numeris
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