On: Show HN: Cost of a 51% Attack on Popular Cryptocur...

[nmjohn]

Committing fraud is very much illegal, yes. It may be hard to prove and prosecute, but it is undoubtedly illegal. (Though IANAL.)

[RobLach → nmjohn]

Who are you defrauding? Under what jurisdiction? The ability to be 51% attacked is a feature of the design. You expect all the actors to commit enough computing capacity to prevent such an attack as it’s in their own best interest.

[lagadu → RobLach]

Depending on the jurisdiction it might be fraud or not. It's effectively the same as writing a check that you know doesn't have funding behind it.

[lawlessone → RobLach]

still fraud.

[hackerman12345 → nmjohn]

Can utilizing features ever be fraud?

[Improvotter → hackerman12345]

I'm not sure. Is utilizing the feature that no guard is watching that expensive bracelet in the store illegal?

[glandium → Improvotter]

But in all countries where crypto-currencies are not considered money, is it illegal to double-spend bits?

[MereInterest → glandium]

If I find a funny-looking stone, and promise to give it to you in exchange for goods, it would be fraud to give the funny-looking stone to somebody else instead. Cryptocurrencies are no more "money" than the funny-looking stone, but one could still commit fraud with them.

[RobLach → Improvotter]

Stealing a bracelet from a store is made illegal typically through the force of a state.

[detaro → RobLach]

As is fraud.