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Exmo Bitcoin exchange chief executive kidnapped in Kiev

bbc.com

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Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#101

Post by wskinner »

55555 wrote: post #83

Unfortunately, one of the 'killer apps' for crypto is extortion. It's going to change the world and not for the better. The hard part of extortion has always been getting paid. It's always involved exposure ("meet me there with a bag of money") or been subject to limitations (wire transfer clawbacks, cash withdrawal limits, etc), until now. Right now anyone in the world can fill an insulin syringe with cyanide soluti…

Upvoted for your last two sentences. If this is the destiny of humanity, so be it. Either we will get past it, or we won't. That was always the case, bitcoin or not. The fundamental issue is human nature. Technology merely distills and clarifies.

Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#102

Post by EGreg »

Meekro wrote: post #94
cma wrote: post #87

Earlier quoted context omitted.

For something as large scale as that coke scheme bitcoin could always implement clawbacks via consensus.

There are several fully-anonymous altcoins in use today. The crooks would use one of those instead.

What is the guarantee that some random extortionist is going to stop just cause you sent them money?

Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#103

Post by jnsaff2 »

chrissnell wrote: post #74
jordanbaucke wrote: post #48

Earlier quoted context omitted.

In "Casino" Robert De Niro's character puts $2M in jewels in a safe-deposit box that even he doesn't have the key for (he naively gives the key to his wife- but that's another part of the plot) He narrates that the jewels are "in case he got in trouble". Ostensibly so he could pay off kidnappers.

I have the "poor man's" version of De Niro's safe-deposit box, a Rolex Submariner. Readily convertible into US$3-5K cash (at least) in pretty much any large city in the world. It's always on my wrist. If I needed the money desperately and couldn't access my accounts, I have my beloved watch.

Be careful as there are rumors of people using machetes to separate these watches from their owners on the street in certain countries just to reduce time, effort and risk.

Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#104

Post by jorde »

DonHopkins wrote: post #97
chrissnell wrote: post #74

Earlier quoted context omitted.

I have the "poor man's" version of De Niro's safe-deposit box, a Rolex Submariner. Readily convertible into US$3-5K cash (at least) in pretty much any large city in the world. It's always on my wrist. If I needed the money desperately and couldn't access my accounts, I have my beloved watch.

I'd rather not know what time it is than wear a Rolex. I would be self-conscious about people thinking I was that vain and materialistic, assuming it's fake, and that I was a poseur. Get a money belt if your point isn't just to show off and you're not asking to get rolled.

Unless you go for the yellow gold or two-tone (gold/steel) models, 95% of the people won't no that you're wearing a Rolex. Regular Submariner or Datejust is pretty nondescript and doesn't scream Rolex at all. Only other watch nerds will notice.

Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#105

Post by shokunin »

petre wrote: post #22
DennisP wrote: post #9

Earlier quoted context omitted.

Exactly. For large amounts, keep the hardware wallet in a safe deposit box, not in your house.

A safe deposit box in Ukraine? You have to be kidding me. We are talking about a country where corruption is rife, at war with its separatist regions.

Ukraine is at war with Russia, which attacked it. Get the story straight.

Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#106

Post by golergka »

55555 wrote: post #83

Unfortunately, one of the 'killer apps' for crypto is extortion. It's going to change the world and not for the better. The hard part of extortion has always been getting paid. It's always involved exposure ("meet me there with a bag of money") or been subject to limitations (wire transfer clawbacks, cash withdrawal limits, etc), until now. Right now anyone in the world can fill an insulin syringe with cyanide soluti…

But how will such a criminal make Coca cola trust that it's him and not his impostor asking for money? And how will he make Coca cola trust that he will actually stop doing it?

Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#107

Post by Casseres »

icebraining wrote: post #100
mschuster91 wrote: post #58

Earlier quoted context omitted.

> Since people are publicly boasting about their crypto fortunes You don't need people boasting about their crypto fortunes. As soon as you set up a Bitcoin tip jar, anyone can look directly at the blockchain to determine how much money you have - and how much you have had at any point in time and where the money went.

You can create and use as many addresses as you want - there's absolutely no reason to keep your savings on the same address as the tip jar.

Perhaps the would-be theives might notice someone going through a lot of different addresses. Better to just use Monero and keep the single address for tips as no one would be able to see the address balance without a viewkey.

Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#108

Post by TeeWEE »

The weak spot of Cryptos is in the exchanges. Getting your money in or out of crypto is a reall hassle, and a risky undertaking. I still had some money at Exmo, moved them to Ether to send them to Kraken (and in my own wallet eventually). However the ethereum transaction is still in "Verifying status". Normally I always keep my cryptos in cold storages, but you cant want you want to exchange them for cash.

I also tried to get my Euros out of Exmo, but verification is already taking more than a week. My trust is gone in them. And thats the whole point. Exchanges are still based on trust, thats not what decentralized cryptos are about. It only works if everybody works on the blockchain only.

Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#109

Post by atomashpolskiy »

shokunin wrote: post #105
petre wrote: post #22

Earlier quoted context omitted.

A safe deposit box in Ukraine? You have to be kidding me. We are talking about a country where corruption is rife, at war with its separatist regions.

Ukraine is at war with Russia, which attacked it. Get the story straight.

If Ukraine was attacked by Russia, why Ukraine's legitimate president is hiding in Russia then?

Re: Exmo Bitcoin exchange chief executive kidnapped in Kiev

#110

Post by cyberpunk0 »

55555 wrote: post #83

Unfortunately, one of the 'killer apps' for crypto is extortion. It's going to change the world and not for the better. The hard part of extortion has always been getting paid. It's always involved exposure ("meet me there with a bag of money") or been subject to limitations (wire transfer clawbacks, cash withdrawal limits, etc), until now. Right now anyone in the world can fill an insulin syringe with cyanide soluti…

It won't make you happy but thanks to banking cartels you are force to keep obtaining it to survive. Money doesn't come to mine when people think of addiction but it's the one thing we as a global society are addicted to more than any amount of caffeine, any technology, any food, drink, drug, or chemical.
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