Hands up.. robbery.

[ruthbabe]

If crypto becomes common to spend, wouldnt it be volnourable to robbery? Like in: Ok send me ur crypto to my adress or ur dead.

In case of when people can handle their whole account mobile.

With cash, robbers know people dont have their whole bank with them. However with mobile telephone that is the case.. Or could be.

Yes, it's possible to do that but until now no one is doing it. WHY? The offender can easily be caught by way of entrapment by law enforcers.

[ninabobo]

If crypto becomes common to spend, wouldnt it be volnourable to robbery? Like in: Ok send me ur crypto to my adress or ur dead.

In case of when people can handle their whole account mobile.

With cash, robbers know people dont have their whole bank with them. However with mobile telephone that is the case.. Or could be.

you are making yourself too difficult with unimportant thoughts.
in this world, there will always be evil everywhere. so forget about what you think, now all we have to do is increase knowledge and profit.

[albertvert]

If crypto becomes common to spend, wouldnt it be volnourable to robbery? Like in: Ok send me ur crypto to my adress or ur dead.

In case of when people can handle their whole account mobile.

With cash, robbers know people dont have their whole bank with them. However with mobile telephone that is the case.. Or could be.

you are making yourself too difficult with unimportant thoughts.
in this world, there will always be evil everywhere. so forget about what you think, now all we have to do is increase knowledge and profit.

Hands up robbery because the bitcoin is not an a ordinary currency and it's a digital currency so if currency in hand only they can make a robbery .so this all are in systematic all are in mobile and bank system etc so only hands up to robbery.Bitcoin has very secured currency as compared to other.

[xBitHodler]

I think it would be common in unsafe places. People will probably use their biometrics (iris, fingerprint or face scanner) when using Bitcoin for daily transaction becomes mainstream. It will be easy to rob them at night. I wouldn't keep my savings with me all the time. I would keep my wallet with saving at home or in a much safer place. Ordinary people prefer convenience to security.

[stompix]

Really?
I can't believe that after 4 years this comic is still spot on for discussions like this:



If someone is that anxious to rob you at any cost he's going to rob you no matter what you have , gold, cash, digital money, platinum piercings or whatever.
I doubt there is somebody around here who after taking a bullet in the leg won't start screaming passwords faster than an s9 does hashes.

[william8829]

If crypto becomes common to spend, wouldnt it be volnourable to robbery? Like in: Ok send me ur crypto to my adress or ur dead.

In case of when people can handle their whole account mobile.

With cash, robbers know people dont have their whole bank with them. However with mobile telephone that is the case.. Or could be.

Yes.  As Bitcoin becomes more popular it will become a bigger target for thieves.  What happens when robbery increases?  More law enforcement get involved.

[Nahl]

unless amateur robber who doesn't aware from among situations before rob someone and usually they will failure to get money from the victims but bad guys or criminal acts always be smarter than us so they will manage the situations before rob someone and they will force their victim to gave the password to get full access to their wallet so i think this is not so different robbed with cash or crypto

[Lyancy001]

Just keep a minimal worth of Bitcoins in your cellphone then. You could keep your high amount of Bitcoin somewhere safe and secure.

[Xervo]

I think a much greater risk of losing your cash if they are in cash in your pocket purse. Electronic money is much safer if you keep it right. You just need to find a good purse with a reliable security system that has in its arsenal double passwords, two-factor authentication, alerts about all actions on the wallet, etc.

[Bonanzacoin]

Looks like its allready happening ... 

http://www.thebay.co.uk/news/videos/police-appeal-for-witnesses-after-trader-forced-at-gunpoint-to-transfer-bitcoin/

[swogerino]

Looks like its allready happening ...  

http://www.thebay.co.uk/news/videos/police-appeal-for-witnesses-after-trader-forced-at-gunpoint-to-transfer-bitcoin/

Apparently this trader was well known and he made public his wealth which is not a clever thing to do. I have done such error myself by posting different success stories on facebook and Instagram and this is where maybe the attackers found that this trader was successful and had a lot of crypto currency. Keeping it on his computer was not smart as he could have fooled the attackers by keeping only a small to medium amount in his desktop wallet while keeping his fortune in a hardware wallet. There is a lot to be learned from this story. Thanks for sharing with us.

[gentlemand]

Keeping it on his computer was not smart as he could have fooled the attackers by keeping only a small to medium amount in his desktop wallet while keeping his fortune in a hardware wallet. There is a lot to be learned from this story. Thanks for sharing with us.

If he was a trading pro then perhaps the robbers either set up some type of deal to probe his holdings, or simply had a look on localbitcoins to see how many were available to buy from him. There's a lot of publicly identifiable information if you're trading P2P, let alone having some of crypto link on your social media.

Horrible thing to happen.

[Kavallo]

If crypto becomes common to spend, wouldnt it be volnourable to robbery? Like in: Ok send me ur crypto to my adress or ur dead.

And you think cash/fiat isn't? "Give me your debit card and pin or you're dead". Or "give me all your cash", or "give me your whole wallet". Although people don't carry a lot of cash on them, they are still carrying tons of money. A credit card can be worth thousands of dollars and people generally have more than one credit card on hand. Furthermore people also carry debit cards which give direct access to their bank accounts. And they don't need you alive to take and spend your money. They can kill you and just take your credit cards and debit cards from your wallet, no need to keep you alive to get a password like you need to with Bitcoin on a phone.

You are right, of course, but so is the OP. In fact , such a thing has just happened a few days ago.
Pavel Lerner, an employee of a United Kingdom-registered cryptocurrency exchange, has been kidnapped in Ukraine and then released only after more than $1 million in bitcoins as ransom had been paid.
Here you can read the whole story;

https://www.reuters.com/article/us-ukraine-kidnapping/ukraine-kidnappers-free-bitcoin-analyst-after-1-mln-ransom-paid-idUSKBN1EN1QB

[fanbeila]

I would say that they would be much safe with this system when totally cryptocurrencies are used.Even credit cards or debit cards which were mostly used nowadays are also vulnerable to robbery. Using cryptocurrencies for payments has no difference when compared to using credit or debit cards for payments.Both are digital transactions and no extra threat could be encountered.

[PalindromemordnilaP]

If crypto becomes common to spend, wouldnt it be volnourable to robbery? Like in: Ok send me ur crypto to my adress or ur dead.

In case of when people can handle their whole account mobile.

With cash, robbers know people dont have their whole bank with them. However with mobile telephone that is the case.. Or could be.

Should you tell the robbers all your wallets' private keys or account information for them to access it? This is the way how the future would look like in a cashless society and much better if you put your cryptos separately from other wallets. Don't put it all in a single wallet and in case, just tell the (robbers) the wallet that have least value.

[Kozlov]

http://www.telegraph.co.uk/news/2018/01/28/britains-first-bitcoin-heist-trader-forced-gunpoint-transfer/

Sooo...

This just happened in England and kinda proves the topic correct, I thought initially the topic had been bumped because of this but it seems not.

4 guys ran into the house with guns and forced a Bitcoin trader to send all his coins to external addresses. He seems to be an Altcoin trader, so perhaps they only took his BTC. Maybe they left his TRX and XVG

Seriously though, this is possible and easily done. Anyone selling on Localbitcoins is at risk of this.

[gentlemand]

Seriously though, this is possible and easily done. Anyone selling on Localbitcoins is at risk of this.

His name has come out. I won't link to it, but the name of his company is 'name' digital currencies limited. In the UK you can search the register of companies and his home address is on there.

Maybe all the robbers did is trawl through linkedin for 'bitcoin' and he turned up.

[azker]

If crypto becomes common to spend, wouldnt it be volnourable to robbery? Like in: Ok send me ur crypto to my adress or ur dead.

In case of when people can handle their whole account mobile.

With cash, robbers know people dont have their whole bank with them. However with mobile telephone that is the case.. Or could be.

It can only be possible if you are posting or a lot of people knows you are a big holder of Bitcoin, and of course, you should not use  Mobile phone to store your bitcoin, use a lot of kinds of wallet and do not put all your eggs in one basket and the most inportant is always keep your private keys in a safe place.

Probably also have a multisig wallet and store the private keys in two places and the thieves can’t do any thing to you

[Copulative]

If crypto becomes common to spend, wouldnt it be volnourable to robbery? Like in: Ok send me ur crypto to my adress or ur dead.

In case of when people can handle their whole account mobile.

With cash, robbers know people dont have their whole bank with them. However with mobile telephone that is the case.. Or could be.

I've been using Bitcoin for years, and have never had access to any funds on my phone. Don't plan to, either. I guess this could happen if mobile BTC usage gets several magnitudes more prevalent, but even if so, it's a big gamble for robbers to simply assume that anyone and everyone has immediate access to crypto funds.

But while we're on the subject, this is definitely a good reason to remember this sage advice: Don't tell people about your bitcoins. I don't even like to tell people IRL that I'm into Bitcoin. Paranoid about people wanting my coins.

This is good advice, like do you go away and tell people how much fiat you have? No right? Then why tell em about your crypto

[pawanjain]

What isn't vulnerable because the case is the same with all the things. Lets assume I am a robber and you are the victim. I would first get you at a gun point and demand for all your cash if not you are a dead person. You would obviously give me all your cash. I would then get your credit and debit card as well and if an ATM is nearby I would tell you take all your cash out and then comes the crypto part where I ll check your smartphone . It actually depends on the robber and the victim on how smart they are to handle the given situation. If the robber is smart enough he might make you bank rupt and if the victim is smart he might loose nothing.