Another cryptocurrency seizure.
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It's safe and secure unless your private key is hacked or you disclose it to someone who, for example, is threatening to break your legs.
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The fox knows many things, but the hedgehog knows one big thing.Greg Utas wrote:
It's safe and secure unless your private key is hacked or you disclose it to someone
OK, this is probably where I show my very limited knowledge about cryptocurrencies, but isn't it also completely traceable? Which must be a bit of a downside if you are trying to bypass law enforcement.
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OriginalGriff wrote:
It would seem that keeping money in cryptocurrencies isn't as "safe and secure" as you might think, as well as being subject to wild fluctuations for no good reason. I'd expect it to drop further on this news as naughty people try to get rid of it. :-D
Hahaha, sound like someone is jealous! The most used currency for criminals is the US dollar. We should ban that stuff in Europe.
Bastard Programmer from Hell :suss: "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
Eddy Vluggen wrote:
The most used currency for criminals is the US dollar. We should ban that stuff in Europe.
This is one of those weird thing that seems to obsess you. I'd bet if it were Indian Rupees you'd not have posted that. Aside from what is (apparently) a personal pique of yours, you really need to consider beyond the obvious: a purpose of cryptocurrency is the anonymity it brings. Not true with hard currency. Although paying "in cash" is hidden in any currency, that's a tough play once the sums are substantial and/or they cannot be handed off physically. There's a trail - which is why money laundering exists - but unless moved around in large sacks, the trail will keep reemerging. For some reason you prefer to err on the side of disputing the reality: the money for online (at the least) extortion is preferentially a crypt-currency. And redirection, i.e. to the US$ or any other real money, doesn't really make the problem brought up go away. The "yeah, but what about . . . " bullshit is part of the current culture to distract from rather than address problems. Works best in social media and at political rallies.
"The difference between genius and stupidity is that genius has its limits." - Albert Einstein
"If you are searching for perfection in others, then you seek disappointment. If you seek perfection in yourself, then you will find failure." - Balboos HaGadol Mar 2010
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Greg Utas wrote:
It's safe and secure unless your private key is hacked or you disclose it to someone
OK, this is probably where I show my very limited knowledge about cryptocurrencies, but isn't it also completely traceable? Which must be a bit of a downside if you are trying to bypass law enforcement.
It's traceable because the entire ledger of transactions (with public keys) is available. So the way it's traced is by identifying the owner of one public key, threatening to nail their head to the floor so that they disclose who they dealt with, which reveals the owners of those public keys, and so on.
Robust Services Core | Software Techniques for Lemmings | Articles
The fox knows many things, but the hedgehog knows one big thing. -
"I have no idea what I did, but I'm taking full credit for it." - ThisOldTony "Common sense is so rare these days, it should be classified as a super power" - Random T-shirt AntiTwitter: @DalekDave is now a follower!
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Cp-Coder wrote:
Grauniad? What's that?
A British newspaper: News, sport and opinion from the Guardian's UK edition | The Guardian[^]. Used to be famous for the typos on its pages, hence the mis-spelling of its name.
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Eddy Vluggen wrote:
The most used currency for criminals is the US dollar. We should ban that stuff in Europe.
This is one of those weird thing that seems to obsess you. I'd bet if it were Indian Rupees you'd not have posted that. Aside from what is (apparently) a personal pique of yours, you really need to consider beyond the obvious: a purpose of cryptocurrency is the anonymity it brings. Not true with hard currency. Although paying "in cash" is hidden in any currency, that's a tough play once the sums are substantial and/or they cannot be handed off physically. There's a trail - which is why money laundering exists - but unless moved around in large sacks, the trail will keep reemerging. For some reason you prefer to err on the side of disputing the reality: the money for online (at the least) extortion is preferentially a crypt-currency. And redirection, i.e. to the US$ or any other real money, doesn't really make the problem brought up go away. The "yeah, but what about . . . " bullshit is part of the current culture to distract from rather than address problems. Works best in social media and at political rallies.
"The difference between genius and stupidity is that genius has its limits." - Albert Einstein
"If you are searching for perfection in others, then you seek disappointment. If you seek perfection in yourself, then you will find failure." - Balboos HaGadol Mar 2010
Eddy hates on America every chance he gets.
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Eddy Vluggen wrote:
The most used currency for criminals is the US dollar. We should ban that stuff in Europe.
This is one of those weird thing that seems to obsess you. I'd bet if it were Indian Rupees you'd not have posted that. Aside from what is (apparently) a personal pique of yours, you really need to consider beyond the obvious: a purpose of cryptocurrency is the anonymity it brings. Not true with hard currency. Although paying "in cash" is hidden in any currency, that's a tough play once the sums are substantial and/or they cannot be handed off physically. There's a trail - which is why money laundering exists - but unless moved around in large sacks, the trail will keep reemerging. For some reason you prefer to err on the side of disputing the reality: the money for online (at the least) extortion is preferentially a crypt-currency. And redirection, i.e. to the US$ or any other real money, doesn't really make the problem brought up go away. The "yeah, but what about . . . " bullshit is part of the current culture to distract from rather than address problems. Works best in social media and at political rallies.
"The difference between genius and stupidity is that genius has its limits." - Albert Einstein
"If you are searching for perfection in others, then you seek disappointment. If you seek perfection in yourself, then you will find failure." - Balboos HaGadol Mar 2010
W∴ Balboos, GHB wrote:
I'd bet if it were Indian Rupees you'd not have posted that.
I would; and funny that everyone jumps on me for calling out the dollar while jumping on BC.
W∴ Balboos, GHB wrote:
a purpose of cryptocurrency is the anonymity it brings
Ehr.. no. BC isn't anonymous. In fact, every transaction is recorded in a chain. The argument that BC is dangerous "because" criminals use it, is garbage. As if we didn't have access to currencies before it's invention.
Bastard Programmer from Hell :suss: "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
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That would only mean they would move over to another currency, probably the €. You want to ban that as well?
Wrong is evil and must be defeated. - Jeff Ello
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Greg Utas wrote:
It's safe and secure unless your private key is hacked or you disclose it to someone
OK, this is probably where I show my very limited knowledge about cryptocurrencies, but isn't it also completely traceable? Which must be a bit of a downside if you are trying to bypass law enforcement.
It is, and thus, not anonymous. And it's not like criminals didn't have access to currency before the invention of BC.
Bastard Programmer from Hell :suss: "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
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W∴ Balboos, GHB wrote:
I'd bet if it were Indian Rupees you'd not have posted that.
I would; and funny that everyone jumps on me for calling out the dollar while jumping on BC.
W∴ Balboos, GHB wrote:
a purpose of cryptocurrency is the anonymity it brings
Ehr.. no. BC isn't anonymous. In fact, every transaction is recorded in a chain. The argument that BC is dangerous "because" criminals use it, is garbage. As if we didn't have access to currencies before it's invention.
Bastard Programmer from Hell :suss: "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
Sometimes your just plain silly.
Eddy Vluggen wrote:
Ehr.. no. BC isn't anonymous. In fact, every transaction is recorded in a chain.
And that, of course, includes there name and other identifiable information! Somehow I missed that in all the descriptions.
Eddy Vluggen wrote:
The argument that BC is dangerous "because" criminals use it, is garbage. As if we didn't have access to currencies before it's invention.
More of that silly stuff ! It's like saying a nerve gas, such as Sarin or Tabun is "OK" because poisonous things existed before they did. Yes. Of course. As for why BC and its ilk are dangerous? It's because they have no intrinsic value whatsover - not even the so called "good faith of (pick a gov't)". They are empty worthless ephemera with no value other than the speculation that someone else may want to buy it from you and speculate some more. That is dangerous. Catastrophic swings in value (as we already see). Who or what stands behind their value?
"The difference between genius and stupidity is that genius has its limits." - Albert Einstein
"If you are searching for perfection in others, then you seek disappointment. If you seek perfection in yourself, then you will find failure." - Balboos HaGadol Mar 2010
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Sometimes your just plain silly.
Eddy Vluggen wrote:
Ehr.. no. BC isn't anonymous. In fact, every transaction is recorded in a chain.
And that, of course, includes there name and other identifiable information! Somehow I missed that in all the descriptions.
Eddy Vluggen wrote:
The argument that BC is dangerous "because" criminals use it, is garbage. As if we didn't have access to currencies before it's invention.
More of that silly stuff ! It's like saying a nerve gas, such as Sarin or Tabun is "OK" because poisonous things existed before they did. Yes. Of course. As for why BC and its ilk are dangerous? It's because they have no intrinsic value whatsover - not even the so called "good faith of (pick a gov't)". They are empty worthless ephemera with no value other than the speculation that someone else may want to buy it from you and speculate some more. That is dangerous. Catastrophic swings in value (as we already see). Who or what stands behind their value?
"The difference between genius and stupidity is that genius has its limits." - Albert Einstein
"If you are searching for perfection in others, then you seek disappointment. If you seek perfection in yourself, then you will find failure." - Balboos HaGadol Mar 2010
W∴ Balboos, GHB wrote:
Sometimes your just plain silly.
Did you mean "you're"? :)
W∴ Balboos, GHB wrote:
And that, of course, includes there name and other identifiable information! Somehow I missed that in all the descriptions.
The things you buy, that pattern, is the information.
W∴ Balboos, GHB wrote:
More of that silly stuff ! It's like saying a nerve gas, such as Sarin or Tabun is "OK" because poisonous things existed before they did. Yes. Of course.
Let me state it different then; I don't take BitCoin, only dollars.
W∴ Balboos, GHB wrote:
As for why BC and its ilk are dangerous? It's because they have no intrinsic value whatsover
More intrinsic value than a Euro has, since it is artificially limited. Meaning, our government can't print BitCoins if they need them.
W∴ Balboos, GHB wrote:
not even the so called "good faith of (pick a gov't)"
Yeah, place you faith there.
W∴ Balboos, GHB wrote:
Who or what stands behind their value?
I don't own BC, a genuine silverbug. And all those idiot arguments about BC go for silver as well. No one stands behind it - you make it sound like that is a problem, but that's an advantage. No Draghi, no problem.
Bastard Programmer from Hell :suss: "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
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It's safe and secure unless your private key is hacked or you disclose it to someone who, for example, is threatening to break your legs.
Robust Services Core | Software Techniques for Lemmings | Articles
The fox knows many things, but the hedgehog knows one big thing. -
Met Police seize record £180m of cryptocurrency in London[^] From one woman. :omg: The Grauniad says it's Bitcoin: Met police seize nearly £180m of bitcoin in money laundering investigation | Bitcoin | The Guardian[^] That's a lot of money ... but it would have been twice that in April. It would seem that keeping money in cryptocurrencies isn't as "safe and secure" as you might think, as well as being subject to wild fluctuations for no good reason. I'd expect it to drop further on this news as naughty people try to get rid of it. :-D
"I have no idea what I did, but I'm taking full credit for it." - ThisOldTony "Common sense is so rare these days, it should be classified as a super power" - Random T-shirt AntiTwitter: @DalekDave is now a follower!
Bitcoin, or cryptocurrency in general, is such a nice example of things working out in principle but failing spectacularly in the practice.
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If I had even one Bitcoin and somebody threatened to break my legs if I don't hand over my key, I would shout: "Break away and be damned!" :laugh: :laugh: :laugh:
Get me coffee and no one gets hurt!
Cp-Coder wrote:
somebody threatened to break my legs if I don't hand over my key, I would shout: "Break away and be damned!"
You need the money to pay the entrance fee for a marathon, right? :)
Freedom is the freedom to say that two plus two make four. If that is granted, all else follows. -- 6079 Smith W.
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It is, and thus, not anonymous. And it's not like criminals didn't have access to currency before the invention of BC.
Bastard Programmer from Hell :suss: "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
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"I have no idea what I did, but I'm taking full credit for it." - ThisOldTony "Common sense is so rare these days, it should be classified as a super power" - Random T-shirt AntiTwitter: @DalekDave is now a follower!
That's a hilarious story.
