Thousands rushing to buy bitcoins to pay ransomware! price on rocket

[mobnepal]

i think price will shoot to 10000$ by next week

for those wondering 10000$ is too much.. think about thousands rushing to buy bitcoins to  pay the ransom

- This is your over speculation, $2000 may sound realistic but $10k is way far.

- Even if those thousands of people buy billions dollar worth of bitcoin, price will not rocket to your speculation. But when new people buys bitcoin it will certainly have some positive effect on price.

[Pab]

Forget about any ransomes,big companys and insitutions have been hurt,there is already big international investigations,that attack is kind of terroristic attack,do you think that German Reilways will buy btc to pay ransome,it can has only negative influance on btc

[digaran]

I don't see any where a mass ransom demands surge to force people into paying them by Bitcoin, I'm sure bad guys very well know about LTC and ETH why not demanding them as well? maybe XMR or DASH?
Or maybe we don't have LTC mixer or ETH mixer like we have bitmixer?

The unfortunate part is when you send them Bitcoins after they mix them there is virtually no possible way to track them, unless you deal with amateur mixers which either scam you by stealing them or just have no skills or volume to properly mix them or they are just government's agencies masking themselves as mixers and secretly keeping the records of every transactions for future references, you never know.
BTW, price is going under unlike what you are suggesting.

[Barbut]

This is an old story, last year there was a news how UK and some other countries buying bitcoins to have in case they need to pay some ransom. Why would now repeating the same story pump the price so much? And how can this story be bigger then adoption and legalization of bitcoin in Japan and Australia? OP just had some crazy dream...

[adroitful_one]

10k is not reasonable, it is just hit $1800 and goes down to range $1500, it will be worth 10k in the next halving..

Yea. I see a possible $2,000 soon. But, $10k most definitely isn't going to happen for a while. More than likely, it will be in 2020 or shortly after when the halving occurs. Print out a paper wallet and send some extra coins over for when this happens

[freedomno1]

This is a sad thing..people are forced to buy bitcoins to pay ransom..while this may create demand in epic proportion perphaps next all time high..certainly this incident brings bad reputation to bitcoin.


i think price will shoot to 10000$ by next week

for those wondering 10000$ is too much.. think about thousands rushing to buy bitcoins to  pay the ransom

Alas not happening the ransomware makers made 20-30 K so far but its nowhere near enough to cause a price bump.
Perhaps an awareness impact but not much else.

[jaberwock]

People should not pay the ransom, it would only incentive such types of attacks to happen again. If they follow basic guidelines of how to use the computer, they should have everything backup'ed somewhere where malwares can't reach.

Also there is no guarantee that they will in fact have their archives back, some ransomwares don't decrypt them even if the ransom is paid

[senyorito123]

People should not pay the ransom, it would only incentive such types of attacks to happen again. If they follow basic guidelines of how to use the computer, they should have everything backup'ed somewhere where malwares can't reach.

Also there is no guarantee that they will in fact have their archives back, some ransomwares don't decrypt them even if the ransom is paid

I believe that also since if they easily gives up and pay the ransom ask by the attackers well im pretty sure that the will do the same act again and harras those country who paid off. So better they should make some better aid for it and fix the problem by their own hands since they have money to pay some good hackers to counter/fix those spreaded virus .

Hackers will be hackers and they will exploit again if they can see that this act will be profitable for them.

[iqlimasyadiqa]

This is the worst thing ever. In my country also currently there is an appeal to the widespread deployment of ransomware. I do not understand why there are still bad people who harm many people. They encrypt the data we all have. It is a very serious crime. One of the advantages may be an increase in bitcoin. But it does not matter when we become victims.

[senyorito123]

But if this matter can make the price of btc grows then it could also make the price go drop since hackers can easily dump their money get from ransom itself and i believe the ransom for that virus is not pretty cheap so brace ourselves right now and see what will happen aswell as wee need to be vigilant on this. Eventhough there's a good effect in every act on it with bitcoins well we cannot still assure that their would be longterm effect on it since the hackers would not do good for the benifit of the bitcoins itself but they do it for their very own benifits.

[freedomno1]

People should not pay the ransom, it would only incentive such types of attacks to happen again. If they follow basic guidelines of how to use the computer, they should have everything backup'ed somewhere where malwares can't reach.

Also there is no guarantee that they will in fact have their archives back, some ransomwares don't decrypt them even if the ransom is paid

I presume that if it's a hospital that ransom is a necessary expense to save lives and access patient data. On principle it makes sense but it is not the best choice in practice for some situations.
http://www.telegraph.co.uk/news/2017/05/12/nhs-hit-major-cyber-attack-hackers-demanding-ransom/

Operations and appointments were cancelled and ambulances diverted as up to 40 hospital trusts became infected by a “ransomware” attack demanding payment to regain access to vital medical records.

Doctors warned that the infiltration – the largest cyber attack in NHS history – could cost lives.

In the UK the only affected organisation appeared to be the NHS.

Patients awaiting heart surgery were among those who had operations cancelled, with doctors telling how staff were frantically ordering computers to be shut down. New parents were left stuck on wards with their newborns as administrative systems failed.

Doctors at dozens of trusts resorted to pen and paper, with no access to medical records that could alert them to medical histories or allergies. Handwritten signs in the entrance of the Royal London’s A&E read: “The emergency department has no IT facilities, there are significant delays occurring.”

NHS trusts are supposed to regularly back up their files.

But yesterday doctors and nurses were left treating patients without any access to their medical histories, with lost access to X-rays, blood tests and details such as allergies to medication.

It raises the possibility that recent changes to medical records – such as a cancer diagnosis, or the results of a blood test – could be lost, if hackers delete the files.
---

So when it comes to a few hundred dollars or a persons life the ransom will be paid even if their is a risk of no decryption.

[eaLiTy]

i think price will shoot to 10000$ by next week
for those wondering 10000$ is too much.. think about thousands rushing to buy bitcoins to  pay the ransom

Do you really think that thousands rushing to buy bitcoins will take the price over to $ 10k ,how do you make your calculations, you have to literally fire the rocket to reach those prices. it is really unfortunate that a ransomware is extorting people,but that does not mean that the price would rally because of that and i am waiting for a good correction.

[alyssa85]

According to the following article which is tracking the bitcoin addresses specified in the malware, only about $26,000 worth of bitcoin has been sent:

https://qz.com/982993/watch-as-these-bitcoin-wallets-receive-ransomware-payments-from-the-ongoing-cyberattack/

[e-coinomist]

I think you need help...

kwukduck, please do yourself and all others a favor and buy back in! TY

actually the hackers earned about $40k in a day .. so this is not going to affect the market at all

On the long this ransomware binaries could perhaps get reverse engineered to crack the encryption code. That's what secret services usually have been meant for. Not really been meant for creating cyberweapons (and spreading them, due to legal restrictions about classification necessarities on weapongrade material) AND shutting down hospitals. Nope, not been their mission goals.
FedEx seems down, duh! Next week will be ... adventurous, to say, at least.

[talkbitcoin]

I think you need help...

kwukduck, please do yourself and all others a favor and buy back in! TY

haha, this duck is either an employee of someone and is getting paid to spread the propaganda against bitcoin for whatever reason.
or he is short term trading the shit out of bitcoin and appears each time there is a dip to help the panic a tiny bit and buy cheaper coins.

in any case just enjoy the stupidity.

[Coinnosaurus]

actually the hackers earned about $40k in a day .. so this is not going to affect the market at all

On the long this ransomware binaries could perhaps get reverse engineered to crack the encryption code. That's what secret services usually have been meant for. Not really been meant for creating cyberweapons (and spreading them, due to legal restrictions about classification necessarities on weapongrade material) AND shutting down hospitals. Nope, not been their mission goals.
FedEx seems down, duh! Next week will be ... adventurous, to say, at least.

It would take at least few hundred years to crack it .The authors of this mess are pretty stupid, because the they chose to use NSA's exploit like this .. if they had financial intentions

[aso118]

i think price will shoot to 10000$ by next week

for those wondering 10000$ is too much.. think about thousands rushing to buy bitcoins to  pay the ransom

- This is your over speculation, $2000 may sound realistic but $10k is way far.

- Even if those thousands of people buy billions dollar worth of bitcoin, price will not rocket to your speculation. But when new people buys bitcoin it will certainly have some positive effect on price.

For some weird reason, the price seems to be not affected by this attack. It seems to be hovering around $1800.
The only explanation is that the increased demand for bitcoins has been offset by the negative press regarding Bitcoin. A lot of people consider Bitcoin as a hacker's tool now.

[alyssa85]

For some weird reason, the price seems to be not affected by this attack. It seems to be hovering around $1800.

That's because the "demand" for bitcoin due to the hack was only about $30,000 worth, not enough to move the price.

Large orgs have back-ups. The NHS shut down lots of stuff as a precaution on Friday, most of it was unaffected by the hack and is back up and running. Big businesses like Renault and Nissan also have back-ups - so all they need to do is wipe their servers and rebuild from scratch and they're good to go, no need to pay any ransoms.

So there was no benefit for bitcoin from this, and plenty of downsides in terms of negative press.

[shintosai]

For some weird reason, the price seems to be not affected by this attack. It seems to be hovering around $1800.

That's because the "demand" for bitcoin due to the hack was only about $30,000 worth, not enough to move the price.

Large orgs have back-ups. The NHS shut down lots of stuff as a precaution on Friday, most of it was unaffected by the hack and is back up and running. Big businesses like Renault and Nissan also have back-ups - so all they need to do is wipe their servers and rebuild from scratch and they're good to go, no need to pay any ransoms.

So there was no benefit for bitcoin from this, and plenty of downsides in terms of negative press.

well negative press can also be use to advertise the system as bitcoin is really gathering attention whether for good or bad the fact remains that btc is already existing and people are getting interested to invest and use this platform, this ransomware issue will be forgotten but bitcoin information will remain to those who reads about this news.

[LuanX3]

For some weird reason, the price seems to be not affected by this attack. It seems to be hovering around $1800.

That's because the "demand" for bitcoin due to the hack was only about $30,000 worth, not enough to move the price.

Large orgs have back-ups. The NHS shut down lots of stuff as a precaution on Friday, most of it was unaffected by the hack and is back up and running. Big businesses like Renault and Nissan also have back-ups - so all they need to do is wipe their servers and rebuild from scratch and they're good to go, no need to pay any ransoms.

So there was no benefit for bitcoin from this, and plenty of downsides in terms of negative press.

well negative press can also be use to advertise the system as bitcoin is really gathering attention whether for good or bad the fact remains that btc is already existing and people are getting interested to invest and use this platform, this ransomware issue will be forgotten but bitcoin information will remain to those who reads about this news.

Yeah, any publicity is good publicity. This will raise awareness for bitcoins in the world. It may look bad but I think it could totally leave an impression to the people who read the news and they will try to search what it is. Also those people who were victims of this ransomware will now know how to use bitcoins, which is a good thing.