Post
Topic
Board Bitcoin Discussion
Re: A Smart Move or a Security Risk?
by
BenCodie
on 10/02/2025, 10:42:20 UTC
You're all missing a key detail. It's not really about the cash, it's about the Bitcoin. If someone knows you have Bitcoin, and they successfully rob you, they can do so anonymously. No one is ever going to go for your banking app, as what they will do? Incriminate themselves by transferring your balance to their name? Bitcoin, on the other hand, is transferred to a pseudonymous address. That's the difference between the risk of a cash ATM and a Bitcoin ATM.
You act like the criminals have computer science degree and they understand every technical thing about Bitcoin. Most criminals don't even understand that, I often hear criminals use centralized exchanges to withdraw their coins.

It does not take a computer science degree to kidnap someone, beat them until they unlock their phone/access their wallet, and then send the bitcoins to a bitcoin address. This has happened countless times before, and in some cases it has happened right after someone has used a Bitcoin ATM. I'm not sure why you think it takes any form of knowledge to be able to do that.

When someone goes to an ATM and gets cash, a thief is limited only to the amount of cash that comes to an ATM, which is usually too insignificant for someone to take such a large risk like committing theft.
Not really, the criminals can threaten the victims to withdraw more and asking for other valuable assets.

Many people go out using/bring expensive things, they're more being target than random people who go to Bitcoin ATM.

I disagree with your logic - people go out and buy expensive things with traceable money. Virtually no one in this day and age uses cash and if they do hold cash, it is unlikely that it's much. When someone uses a bitcoin ATM, it's confirmed that the person has bitcoin, and that the wallet they're using might have more value than the cash being withdrawn. Not sure why you aren't able to comprehend that point, especially given that a google search can prove that this logic has clearly been applied from multiple events in history.