Bitcoin as Ransom

[Virtual miner]

What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?

Well if someone has 5000 bitcoins I am sure he would be damn smarter and will never let anyone know that he has such an amount. I thibk even satoshi hide his indentity for a reason. And obviously if the person is more important to you than all your money you will surely give up all your bits to get the person back.

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[GendalfTheFireRed]

What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?

If I had this much money - I guess I'll have ways to earn more or have other valuable assets, I'll pay.

[Kikoman]

this is very good queston bitcoin is a currency where criminnals can demand freely with any date saved or documented as legal and physical..
this can be a kidnap for ransom thing! and YES i will send bitcoin iun exchange of a person that is very important to me .

[asus09]

What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?

I dont know why you made this kind of post. but if I'm private. I will definitely give everything I have as long as the person I care about is free from problems.
because money can not buy a life

[Nilda]

5000 bitcoins is nothing compared to a human life. Moreso if the person is very important to you. In fact, all the bitcoins in the world, I would give it all up for a human life.

[SilverChromia]

I think that people or that kidnapper is smart and clever to do that and have it in his mind because if he want bitcoin to act as an ransom money he do know what bitcoins capability and its potential but if thats  happen to me i will lie to him that i dont have any bitcoins and i dont have it. Because he would not know who really i am and maybe he know that who i am on this forum or etc he cant see or he wont see how much coins do i have in my wallet and i will not tell him because that will trigger him to make a lot of more moves to make. Maybe if its real money i will exchange some of my coins but i wont tell him that i will exchange it first.

[Henry27]

I think this is not possible because how would the kidnapper know that I am a member of a bitcoin community or that I am holding a bitcoin when I am not identifiable in my account. And also, it I cannot find someone who can exchange his bitcoins with mine for a big amount so I think this is not possible. Lastly, why wouldn’t the kidnapper like a true money anyway?

[Hateculd75]

They use it as a ransom, as it is easy to hide, it is difficult for governments to follow, and it does not expose them to risks when buying and selling, but this does not mean that btc was designed for this purpose.

if i recive it by mistake will back it and take 5% from it

then start my exchange service from it. or any lending project. even holding it will give me too many dollars.

[Sithara007]

This is why we should never reveal about our Bitcoin holdings to anyone. (Unfortunately I have made that mistake many times here in this forum). And this is exactly what the authorities are forcing us to do. They want us to reveal our crypto-coin holdings, so that they can tax us to the death. And this in turn makes us sitting ducks for the criminals.

[codecares]

Absolutely yes because liveliness is more important than bitcoin. You can yet earn bitcoin but vigor of that important person you can't bring it benefit occurring.

[JohnBitCo]

In many cases the kidnappers never receive their ransom and are either arrested if killed by a police force trying to free those kidnapped. I want to let the police handle it rather than pay the ransom because you are never sure they will drop the lover.

These are the old ways where you send the ransom physically and they free up your lover   and in between the police comes and arrest the
kidnappers.  The times has changed. These days hackers attack the computer system and get the computer locked. Then the programmed system ask for ransomware in the form of bitcoin to unlock the computer. You pay the specific amount to the bitcoin address and your computer get unlocked. You never know whom you send the bitcoin, the police never came and neither do they know what happen and where the money went.

So what i feel here is that you are trying to say that thieves and hackers are more secure these days as they use digital currency to get the ransom and this makes them totally safe as bitcoin is anonymous and  transaction cant be tracked like bank accounts etc. But i dont think it is that easy. Not everyone is so genius and  a programmer to develop such a virus which block the computer networks. We cant limit the hackers to be only programmers or the thieves has to learn programming to hack in the modern world.

[bitcad4u]

In many cases the kidnappers never receive their ransom and are either arrested if killed by a police force trying to free those kidnapped. I want to let the police handle it rather than pay the ransom because you are never sure they will drop the lover.

These are the old ways where you send the ransom physically and they free up your lover   and in between the police comes and arrest the
kidnappers.  The times has changed. These days hackers attack the computer system and get the computer locked. Then the programmed system ask for ransomware in the form of bitcoin to unlock the computer. You pay the specific amount to the bitcoin address and your computer get unlocked. You never know whom you send the bitcoin, the police never came and neither do they know what happen and where the money went.

So what i feel here is that you are trying to say that thieves and hackers are more secure these days as they use digital currency to get the ransom and this makes them totally safe as bitcoin is anonymous and  transaction cant be tracked like bank accounts etc. But i dont think it is that easy. Not everyone is so genius and  a programmer to develop such a virus which block the computer networks. We cant limit the hackers to be only programmers or the thieves has to learn programming to hack in the modern world.

Bitcoin is used by all.Even the hackers and the thieves used it for a trnscation. Since bitcoin is the safest mode of transcation as compared to others,they will prepare this.Even you  can send or receive the bitcoin without showing you ID or mail id or phone number,that much security is their in bitcoin.

[yoseph]

What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?

Nope i am not going to make that trade at all, How could the kidnapper know that i have that number of bitcoins in my wallet in the first place. There must be an inside job going around here. They better go for a loan and clear up this issue themselves. Human live is valuable but so is bitcoin.

[GreenBits]

What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?

If I only had a .1, this is still a no brainer. you cant put money over people; that money will sit sour in your pocket, while you think about what you traded for it. bitcoin is perfect for receiving funds anon; the issue is when you want to spend those coins. anything besides a p2p transaction for cash is going to involve a bit of kyc. and the coins are marked, you are running a risk if they touch any account that you have associated with, even in the past. id rather take cash tbh. way cleaner and easier to launder.

[Viscera]

What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?

It totally decentralized and that kidnapper don't know how much bitcoin i have in my wallet. maybe i can give 1 bitcoin for an exchange whom is very important to me. it doesn't matter who he is what important is they will give my request.

[newbie-hero]

What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?

This is some kind of moral question. Telling the truth I don’t like this question. There are no any details. Who we are talking about for example. If this a dear person then there are no restriction even in addition to ransom.

[BlackRacerX]

What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?

I will give the 5000 bitcoins. No questions asked. You can never have someone be replaced by material things like bitcoins. I would sacrifice a life of a person just for 5000 bitcoins. No money nor bircoins can ever replace a life. I hope people would respond the same way I did and value life over bitcoins.

[Aryadwipanggah]

maybe i will redeem it even though 5000 bitcoin if it concerns the safety of people who are very important to me, say one of our family members.

[johnalyn]

I think it is possible on an online business but it is really hard to encounter here and as of now since I join bitcoin I don't hear anything like that before and that's not a great way to get money in bitcoin.

[budz0425]

What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?

I will give the 5000 bitcoins. No questions asked. You can never have someone be replaced by material things like bitcoins. I would sacrifice a life of a person just for 5000 bitcoins. No money nor bircoins can ever replace a life. I hope people would respond the same way I did and value life over bitcoins.

Bitcoin is just like money, I can still earn it, it is just a material thing what most important is the life of the people especially my family. Let's say that I am selfish enough and did not give what they wanted me to give and then that person involve suddenly dies because of traumatic circumstances or with the situation do you think I can sleep well?