Inside the U.S. cryptocurrency suppression program.

[deepfkvalue]

The latest guest on "Real Time with Bill Maher" was a former head of national cybersecurity and infrastructure, and he said that cryptocurrencies are one of the largest sources of cyber threat because they give more incentive to criminals to be paid anonymously. Basically hospitals, schools, governments being forced to pay crypto ransomware.

Personally I don't fully agree and there is much more nuance/debate, but I can see how the government would use the threat of ransomware as a way to ban it.

 

[Sprout]

A long time ago there was a revolutionary ship called Titanic. It was unsinkable because there was a high tech "compartment locking" system. They even used the slogan "without God". Reality was that when the Titanic hit his first iceberg it went down. Thousands of people died.
So the invincible ship was not invincible at all.
The same thing can happen with crypto's. Nothing is excluded. Never say never.

I agree with you basic sentiment of 'never say never.'

As for your analogy, USD as the world's reserve currency being the Titanic would be better fit.

As long as there is civilization; decentralized, permission-less, trust-less transacting of value across a communication channel is the pandora's box development that can't be put back in the box.

As of now, BTC transfers $137k/sec. <-this number will only grow

 

[Sprout]

uh, you also cannot trade in cia secret documents. 1 or 2 may get through, but that's not enough for a market.

the nsa caught the latest leaker of internal cia documents, who was a computer expert using, among other things, the tor anonymity system. you still do not understand. if they want to detect it and ban it, they can.

You are describing something un-fungible to something that is.

Nigeria is a recent nation state's example of futility. BTC transactions in that country have only exploded since the ban.

 

[Sprout]

The latest guest on "Real Time with Bill Maher" was a former head of national cybersecurity and infrastructure, and he said that cryptocurrencies are one of the largest sources of cyber threat because they give more incentive to criminals to be paid anonymously. Basically hospitals, schools, governments being forced to pay crypto ransomware.

Personally I don't fully agree and there is much more nuance/debate, but I can see how the government would use the threat of ransomware as a way to ban it.

With the development of DeFi insurance products, the use of this strategy will most likely increase in the future.

https://www.bleepingcomputer.com/ne...-wallet-frozen-by-uk-court-to-recover-ransom/