[2020-01-30] Bitcoin Has Lost Steam. But Criminals Still Love It.

[NotATether]

Really, 2011 called again?

96BTC ransomware bounty was identified at Bitfinex yesterday.

http://jpkoning.blogspot.com/2020/01/what-happens-when-96-bitcoin-ransom.html

Everyone who gets infected by ransomware has to buy bitcoins at an exchange to pay the hackers which is a traumatizing experience for the victim.

So when people like OP post titles like "Bitcoin Has Lost Steam", they are unaware of the fact that these prospective bitcoin users who are using bitcoin exchanges are doing so with a high heart beat because they are on the brink of losing their personal data (to say nothing about the KYC they have to complete which skews their opinion about bitcoin). And so these hackers are doing a disservice to us by making victims hate exchanges/bitcoin since as much they could hate the hacker, he is most likely a pseudonymous maniac who vanishes the next day. Whereas the exchanges don't magically disappear.

Bitfinex needs to get their shit together and seize the ransom since they made money out of the exchange fees they charged to the hacker.

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[bbc.reporter]

The continuing growth of illegal transactions underscores the difficulties that Bitcoin has had in moving past its reputation as a refuge for scoundrels

He is expressing his opinion and as we are in a free world Is his right to say what he wants 

More articles of Nathaniel Popper:

After the Bust, Are Bitcoins More Like Tulip Mania or the Internet?

Terrorists Turn to Bitcoin for Funding, and They’re Learning Fast

clearly he Is a guy who has problems with bitcoin

I reckon that we should embrace it because it proves that bitcoin is working as Satoshi had intended it to be. We cannot stop the scoundrels from using it. However, the regulators cannot stop them from using it also hehehe.

[Thekool1s]

This is the nth time you have said we should embrace it what is that suppose to mean? Are we supposed to run a parade? Run Banner Ads or do a massive signature campaign? You don't seem to like the fact that in the bigger picture the numbers don't mean anything and by Far FIAT (Hard cash) is the major tool that is used by criminals. I broke down the numbers for you in one of the earlier posts but you said the same thing we should embrace it, Would you kindly elaborate what you want from us? What this embracing would look like? When we argue about the numbers we aren't shying away from the fact yes bitcoin facilitates everyone but that doesn't mean, it's the only use-case of the technology... smdh.

[bbc.reporter]

@kool1s. Embrace might be the wrong word. However, we should accept that bitcoin is only a tool that can be used by criminals also and we should not be triggered if people give emphasis on this in discussions.

[zakoliverz]

Seems a certain journalist doesn't keep a proper eye on their subject matter to be writing about it. I hope this person isn't a financial advisor.

[Thekool1s]

@kool1s. Embrace might be the wrong word. However, we should accept that bitcoin is only a tool that can be used by criminals also and we should not be triggered if people give emphasis on this in discussions.

Indeed but aren't we allowed to get annoyed when stupid arguments are being made over and over again? You don't have to be a rocket scientist to figure it out that bitcoin can be used by criminals and just like I said before smartphones are used by criminals as well. Computer programming is used by Blackhat hackers, should we stop teaching it in schools? The answer is no! Why isn't the conversation about who gets to learn this skill? I will let you know why it isn't the case because it's a stupid argument to put forward! We should call a spade a spade when we see stupidity is being promoted... There is nothing to get triggered over infact the only people who get triggered are those who's stupidity is being pointed out...

[bbc.reporter]

@Thekool1s. You are allowed, however, the best reaction would be to troll them back and ask for the numbers on tax evasion and terrorist financing hehehe.