Bitcoin is in trouble

[crazyivan]

After this...I think congress is going to come down on bitcoin in the US

http://www.bitcoinvalues.net/hollywood-hospital-pays-hackers-40-bitcoin-worth-17000-release-computers.html

Sure Bitcoin is to blame. Not weak security system who allowed hackers to do this and not scum hackers who did this. Let s blame computers or internet for this. After all, hackers needed both to perform this shit. 

[HarryKPeters]

yet another media crap in desperate attempt to make bitcoin look bad. i wonder when they are going to sop.

every media will post any interesting news which can get high traffic come into their website,even it'll make someone looks bad,they don't even care,otherwise it dosen't give strong affect tho

It is not in trouble now. But I think it just have a low value and many people are very negative about it. I hope later that it will be more worth.
If Bitcoin will becoming more popular later, I think then that the value will rise in the future and I also hope that many people will use it.

[7425504]

This should not blame bitcoin, if bitcoin should be blamed, then why not blame the people who invented the computer?

[pedrog]

As Taylor said and very well:

Cost to pay Bitcoin ransom: $17k
Cost to hire an IT security person: $85k

Sorry nerds the math doesn't work.

https://twitter.com/SwiftOnSecurity/status/700138172324261889

It's simply much cheaper paying ransoms than having decent security...

85,000 USD to hire an IT security person? really? this is his salary for how long? 1 job?

even if that number is true , paying ransom means they can get hacked the next day and have to do it again and again, the hacker might even leak their security holes online so any novice hacker can get in and mess with their systems.

It's year salary.

Decent infosec professionals are expensive because they're rare and highly specialized.

People in charge, usually, don't understand IT security, they go with what's cheaper now, and they cannot be prosecuted because they have a crappy system.

[Newmba]

The news is true and will be spinned to death. It was only about time anyway

[Raimonn]

I don't like this king of news about bitcoin, but in my opinion the problem is that this hospital, and lot of companies and public organizations don't invest enough on security. If they don't invest on security they will be hacked more than once a year, it don't depends on bitcoin, if bitcoin didn't exist they would use other payment systems.

[Cryptology]

After this...I think congress is going to come down on bitcoin in the US

http://www.bitcoinvalues.net/hollywood-hospital-pays-hackers-40-bitcoin-worth-17000-release-computers.html

How many illegal activities are taking place right now based on the US dollar and other fiat currencies?

[southafricadude]

Bitcoin is one of many ways these hackers can work....if bitcoin is not an option, another way will be found

[-XXIII-]

After this...I think congress is going to come down on bitcoin in the US

http://www.bitcoinvalues.net/hollywood-hospital-pays-hackers-40-bitcoin-worth-17000-release-computers.html

How many illegal activities are taking place right now based on the US dollar and other fiat currencies?

It could be argued that the fluidity and anonymity of Bitcoin facilitates and even encourages thieves and crooks to think of new ways to generate their income, especially when it comes to holding data hostage for ransom.

[pereira4]

Bitcoin is not in trouble, what is in trouble tho is the already collapsing fiat system. Dollar is done and they know it, so they want to stop Bitcoin because people will naturally flock into it like desperate fish trying to reach water, so they want people to be scared of it, that's why they will use whatever incident to push an anti Bitcoin agenda, and we must be ready, beginning with intercepting power grab hardforks like Bitcoin Classic and rejecting them (this is their most effective technique so far, and nonetheless it's still non effective since no one with a brain cares about Classic).

[nichu]

why would bitcoin be in trouble for this,ransom has being paid in fiat and i have not seen no one blaming fiat currency for that matter , there were hacks sending money to proxy bank accounts ,there are many other options . 

[Dekker3D]

OP is just creating FUD, Bitcoin is here to stay so as the blockchain. It's just like a knife, it is dangerous to anyone who intends to do bad things using it.

[ebliever]

Let's hope the Feds are canny enough to use the blockchain to track the funds until the thieves slip up and make a transaction that enables them to be identified.

i can never understand this. people always say this about Feds tracking the coins but it is not possible if they use a mixer!
i mean coins go in one way and come out in multiple transactions (from different set of addresses) with time interval between them in different sizes, how the hell can they track that?

It's been done. I recall one person (ordinary bitcoin user) who tossed some dust into a mixer every time some known stolen funds were sent in for mixing. Kept it up dozens of times before the criminal gave up. By adding their own dust they were able to keep tracking the stolen funds. I don't think it would be difficult for law enforcement to develop automated tools to do this with all known stolen funds and render mixers useless to criminals.

There are lots of ways for criminals to screw up and expose their identity in cases like this, and the police only need one break. Over the long run my money's against the criminals getting away with it.

[Dr.Osh]

I guess it's just a made-up story that bitcoin users to panic and sell bitcoin that he had. I think that made the news it is someone who hates bitcoin

[RodeoX]

Somebody is going to be in trouble, but not bitcoin. And when I see these claims of a government takeover or crackdown it is never accompanied by a method of how it will happen, or a legal argument for how such a thing would be lawful.

So How?

I guess it's just a made-up story that bitcoin users to panic and sell bitcoin that he had. I think that made the news it is someone who hates bitcoin

Oh no, it's quite real and a growing threat.

[maku]

The threat is real. I am victim of this bullshit CryptoWall malware myself.
My mother's laptop was infected despite being protected by antivirus and my lifetime archives of photos were lost in the process.
I am still storing encoded version of the files hoping it will be possible to brute force the algorithm someday.

[amacar2]

After this...I think congress is going to come down on bitcoin in the US

http://www.bitcoinvalues.net/hollywood-hospital-pays-hackers-40-bitcoin-worth-17000-release-computers.html

I think they will try to make their firewall more secure and strong rather than go behind shutting down bitcoin operation in US.

[maku]

After this...I think congress is going to come down on bitcoin in the US

http://www.bitcoinvalues.net/hollywood-hospital-pays-hackers-40-bitcoin-worth-17000-release-computers.html

I think they will try to make their firewall more secure and strong rather than go behind shutting down bitcoin operation in US.

Oh yeah? I was behind firewall and under protection of one of the best antiviruses on the market myself. You can't have 100% protection.
The only solution I see is to dedicate time and effort to find the hacker, hunt these criminals down and put them in jail.
But of course it is problematic with the elusive nature of bitcoin...

[Lokfar]

After this...I think congress is going to come down on bitcoin in the US

http://www.bitcoinvalues.net/hollywood-hospital-pays-hackers-40-bitcoin-worth-17000-release-computers.html

I think they will try to make their firewall more secure and strong rather than go behind shutting down bitcoin operation in US.

Oh yeah? I was behind firewall and under protection of one of the best antiviruses on the market myself. You can't have 100% protection.
The only solution I see is to dedicate time and effort to find the hacker, hunt these criminals down and put them in jail.
But of course it is problematic with the elusive nature of bitcoin...

I dont think Bitcoin is in trouble now. It will rise soon in the future I think.
I hope later that it will be more worth so we can sell it for a lot of money.

[lostintranslation]

No, Bitcoin is not in trouble, not in this way.

What is in trouble though is the already collapsing fiat system all over the world...

Dollar is done and they know it, so they want to stop Bitcoin because people will naturally flock into it like desperate fish trying to reach water, so they want people to be scared of it, that's why they will use whatever incident to push an anti Bitcoin agenda, and we must be ready, beginning with intercepting power grab hard forks like Bitcoin Classic and rejecting them.