Post
Topic
Board Bitcoin Discussion
Re: Mike Hearn, Foundation's Law & Policy Chair, is pushing blacklists right now
by
Luckybit
on 15/11/2013, 03:16:08 UTC
If in 6 months magically Bitcoins are $100,000 each then the incentive to target users is now much much higher.

What does the BTC/USD ratio have to do with the incentive to target users?

Do you really have to ask that question? Hackers typically go after the easiest targets. They don't and wont typically go after the security experts using cold storage (at least not at first). However they'll collect information on everyone and gather intel through services which will ask for information to help them with their scams. They will then use this intel as part of the recon so that when they do launch their attack they'll know exactly your strengths and weaknesses.

If you're someone who likes to gamble and you log into a gambling site you could find that the whole site gets mysteriously hacked and shut down with all the coins missing. The whole event could have been planned as a honeypot to attract suckers into putting their money on the site and when enough money is given to the site the hackers could roll it all up and take all the money. The higher the price for BTC at the time the more incentive they'll have to do stuff like that. The more anonymous BTC is the more likely they'll do it thinking they can get away with it.

I'd say you didn't answer the question at all. If USD/BTC is $400,000 instead of $400, surely people will keep less BTC lying around on their computers.

That isn't the case. A lot of people including Mike Hearn have lost their BTC wallet from back when they first mined BTC. A lot of people who aren't paranoid about being hacked will leave some satoshi laying around. And not everyone is a security expert who even knows what the phase "cold storage" means. Why do we have to act like snobs about this?

Sure we could start businesses to secure people's wallets for a fee but then we'd be acting like banks and would probably have to be regulated.