Okay so I apologise for starting yet another BitCoin thread, but this question has been bugging me for months, and people in the other threads would get pissed if I asked this question there, cause I suspect there's a bunch of other people that don't know either, but want to. So this thread could get busy. So if BitCoin is this mathematical number, and you supposedly "own" the number, how can you prove it? What I've heard is that there is some kind of agency that decides who first finds the block of BitCoins, and so I assume they get recorded as the owners of the BitCoins, but then what? Say you buy some heroin with some BitCoin. Now you got heroin, and the heroin dealer has your BitCoin. How did the transfer take place? I assume the computer-in-the-sky is going to have to say that Nigel no longer has his BitCoin and the heroin dealer does, but then how does the heroin dealer prove this when he wants to buy some cocaine? So he tells the computer-in-the-sky that now the cocaine dealer has his BitCoin, and so now the computer-in-the-sky has to be informed of the transaction. Does the computer-in-the-sky keep a record of every single transaction that has taken place in the history of ever, or does it only remember the last one. Can Nigel get busted and sent to jail when the cocaine dealer tries to buy Meth from the DEA, because the computer-in-the-sky ratted him out? Do I have to whack someone so that they sleep with the fishes in order to prevent the computer-in-the-sky from ratting me out, or do I have to whack the computer-in-the-sky? Okay, so say instead of Meth, the Cocaine dealer buys a prostitute for an hour. An ugly one, she's not worth the $750 of a full BitCoin. Let's see he only wants a half and half for $75.00 (I said she was ugly). How does the Cocaine dealer pay the prostitute 1/10th of his BitCoin? Does the computer in the sky have to me informed that 1/10th of the BitCoin that started out as Nigel's, but then it became the Heroin Dealer's, and now 90% of it is the Cocaine Dealer's, but 10% of that BitCoin now belongs to the prostitute? Okay, so then let's say the prostitute with the 1/10th of a BitCoin wants to buy a rock of crack for $20 which let's say is 1/4 of 1/10 of a BitCoin. Again, does the computer-in-the-sky keep track of this? So, let's say the Crack Dealer has been selling crack all night long, and he's got 1/4th of 1/10th of a whole bunch of people's BitCoins, and when they add all up, the equal 1 full BitCoin. Does the Crack Dealer have 1 BitCoin, or 40 pieces of BitCoins? Someone should make a YouTube video showing all of this, because it's very confusing. Something with pictures of computers, and wallets and Mt. Gox, etc... and drug dealers and prostitutes. And another thing. How do you "steal" BitCoin. Don't you have to go through the computer-in-the-sky? Couldn't the computer just say "No". How do we know it's not the computer-in-the-sky that is stealing the BitCoins anyways. Those computers are frickin' SMART, and some of them have shifty, beady eyes like they are planning something sneaky. What about theft insurance. Couldn't someone tell the computer-in-the-sky that Nigel is planning on saving his BitCoins until the year 2500, when they will be worth 7% of the total value of the entire planet of the earth, so that his descendents will rule over all the descendents of today's lesser people that spent their BitCoins on drugs and prostitutes. You could call it "BitCoin Theft Insurance". You could charge people for this, and "officially register" their BitCoins as being "non-transferable" like that clickie button thingie you do at Network Solutions so that you can transfer your domain name away from those evil motherfuckers. Nigel wonders if there isn't a whole BUNCH of ancillary services that people could start building to service the BitCoin industry, like banks service the fiat currency industry. He' like to think about all of THAT, but he's stuck on the stupid chump-change of BitCoin.