destination unknown :)?

[schilleris84]

Hi to everyone,
couple questions to make up my mind and would apreciate the answers from the experts about bitcoin.However, all answers would be interested to read.Sorry for grammar mistakes, english is not my native language:)
1.posibility in caunterfeiting bitcoin, how real is it or unreal..
2. Does it have any legal protection from the laws and etc in real world?( copyrights, etc )
3. Can someone claim the rights about its invention?
4. After the last bitcoin is mined, if it happens, how much money do one person need to have to buy it all if it has value usd eur ?
5.Is it posible that someone can be so rich these days to buy them all?
6.IF someone comes up with saying i did it, proves it, can he claim all bitcoins as only one legal owner?
That is it i quess, if it sounds funny or whatever, pls just ignore it, I am new in this world

[flower1024]

1.posibility in caunterfeiting bitcoin, how real is it or unreal..

it is not possible to counterfeit bitcoins because bitcoins doesnt really exist. all you have is a private key (which is a very bug number) which works like a key and authorizies you to spent outputs you have received from other parties.

2. Does it have any legal protection from the laws and etc in real world?( copyrights, etc )

only protection is, that it is not allowed to circumvent security to get acces to a system. so probably the answer to your question is no.
personally i think this is good: bitcoin is about beeing your own bank. this means self-responsability. this starts with thats your own obligation to secure them

3. Can someone claim the rights about its invention?

no

4. After the last bitcoin is mined, if it happens, how much money do one person need to have to buy it all if it has value usd eur ?

its impossible to buy them all, because some are lost.
buying the available rest depends on its users but i think its impossible..

5.Is it posible that someone can be so rich these days to buy them all?

see answer 4. but i still think no. why would somebody do this? if only one person holds all bitcoin they would be practically worthless.

6.IF someone comes up with saying i did it, proves it, can he claim all bitcoins as only one legal owner?
That is it i quess, if it sounds funny or whatever, pls just ignore it, I am new in this world

if someone really has bought all (very very unlikely) yes he is able to proof that.
as i said above: there are no coins you only have a private key. with this private key you can sign a message which proofs that the owner of said coins did wrote that message.

[bitkilo]

Hi schilleris,

To answer a couple if your questions.

#1. Not sure if this counts as counterfeit bitcoins but it did create a shit load of extra coins that shouldn't have created, it's number 9 on the list at the top:
http://www.coindesk.com/9-biggest-screw ... n-history/

#2. Bitcoin does have a heaps of laws surrounding it so you have to be much more specific about what your asking, if it's just regarding copyright then the answer is no to your question.

#3. Can someone claim the rights about its invention?
I guess Satoshi Nakamoto is the inventor/ created of bitcoin but nobody really knows who he is.

#4. The market cap for bitcoin on www.coinmarketcap.com now is $ 4,977,854,435 so that might give you an idea of how much it would cost but many other factors come into play before you can just buy everything up.

[Fremont]

5.Is it posible that someone can be so rich these days to buy them all?
6.IF someone comes up with saying i did it, proves it, can he claim all bitcoins as only one legal owner?
That is it i quess, if it sounds funny or whatever, pls just ignore it, I am new in this world

It is not possible for somebody (nor a government) to be so wealthy today to buy every single Bitcoin.
If one single person refuses to sell their bitcoins, the wealthy person's attempt to buy them all would have been a lot of expense for nothing, serving only to drive the Bitcoin value to an astronomical amount. There are also many 'lost bitcoins' that are unspendable due to people deleting their wallets purposefully or accidentally, though there is no way to know which addresses are contained in such wallets.

[Note: this theoretical situation does not truly factor in the amount of bitcoins "lost" in wallets that are no longer accessible, nor bitcoins provably destroyed by sending them to inputs that are unspendable. Nor does it deal with a possible 51% attack on the Bitcoin network itself through controlling 51% of all available hashing power.]

The wonderful thing about Bitcoin is that the entire Bitcoin economy can actually function on a fraction of a single Bitcoin due to its divisibility. Bitcoins are currently divisible to 8 decimal places, though this is not a hard limit. The protocol can be changed on consensus if 8 decimal places is ever not enough.

To get an idea of what the value of Bitcoin would need to be if 8 decimal places was considered to be too few for daily use:
In order for 0.00000001 BTC to be equal to $0.01 (the smallest fiat currency unit currently in use), then 1.0 BTC would have to be equal to $1,000,000.00

Once the last Bitcoin has been mined, if one person managed to purchase every single Bitcoin in existence apart from one, the value of that one remaining Bitcoin would be absolutely huge.

As Bitcoin's value is based on the laws of supply and demand, if there is a demand for purchasing bitcoins (as there would be if somebody wanted to purchase every Bitcoin in existence) then the value of each bitcoin for sale would rise exponentially as the supply that is available on the market lowers - the free market at work!

All that attempting to purchase every Bitcoin currently available would do is make those who refuse to sell their Bitcoin incredibly wealthy.
As an extreme example, if all of the governments in the world came together in an attempt to do this, it would result in making those who keep their Bitcoin more influential than any super-wealthy billionaire as their bitcoins would be worth such a huge amount, and their funds could not be subject to control by government. These new Bitcoin billionaires - who likely would not be in Bitcoin simply for the money if they refuse to sell at such a huge price - could very easily collapse the State by declaring war on it and funding revolutionaries to topple any government that is in power, or comes to power.

That is a very simplified explanation, but I think it serves its purpose of getting the point across about the impossibility of one person controlling all bitcoins in existence.

[schilleris84]

thanks for the answers, interesting thoughts. IF everyone holds as one for quote a while, and no drastic changes will happen in short period of time with bitcoin, as far as my little brain says, buy summer 2016 it will be worth double and the faster people will adopt the idea and support it, it should keep getting better and better. THANKS for taking the time and answering all my questions. Even if the banks will create a similar way in finance, what the bitcoin needs is just to hold the name as a leading brand, and then it will workout itself. The same as why to buy a new mobile phone from unknown company if I can buy apple, samsung, sony, etc. those reliability was proven ages ago, isnt it? BITCOIN BANK, thats what wee need, single institution where you could exchane bitcoins for cash or whatever, one supplyer is more than enough. ???? One virtual bank in each country where bitcoin is not banned, looks simple but i quess it is not that simple to achieve it is it ?WHY Satoshi is a mistery, IS IT DANGEROUS FOR HIM TO COME FORWARD and maybe show the right way, or because he or she remains mistery, it means that bitcoin is going the right way?