U.S. to give ransomware hacks similar priority as terrorism, official says

Post by rawtxapp » Thu, Jun 03, 2021, 10:56 PM UTC

ginja wrote: post #160

coliveira wrote: post #136

So let's look at the chain of events: companies start to become monopolies, make billions of dollars that way. They become "too big too fail", important "infrastructure" for the US. Then, start to expose their user's data on public networks, and don't follow proper security procedures. Now, the public has to pay for the government to secure the magacorp networks! It's a non-stop scam, where they fail their (already s…

I too dislike megacorps, but you could say the same thing about a business being robbed - they most likely could have done something to prevent it but police will still respond and not charge them for it.

Post by dragonwriter » Thu, Jun 03, 2021, 10:57 PM UTC

dcolkitt wrote: post #128

reader_mode wrote: post #107

Earlier quoted context omitted.

> We have plenty of historical and current examples of governments imposing capital controls to restrict access to foreign currency. Very rarely does it result in the market price of the foreign currency going down. Usually quite the opposite. That's a nonsense comparison. When governments impose capital controls it means their currency is already sinking and it's a last ditch attempt to prevent this inevitable scena…

The US only constitutes 15% of global GDP. There's no reason to think that US investors represent an outsized position in crypto holdings. American funds may have large positions, but that's largely because the American asset managers tend to attract substantial overseas positions. There's no reason to think that, say a Japanese pension fund, that's invested in Grayscale is going to say, "oh shoot, guess there's no p…

Post by onethought » Thu, Jun 03, 2021, 10:58 PM UTC

mikewarot wrote: post #165

Let's look at the chain of events. Computing machinery becomes exponentially cheaper, and it gets pushed into all corners of industry. Shared computing becomes a thing, and the need to have a better model of security is realized as a lesson from Viet Nam, and the Capability Based Security model is born. Microprocessors again exponentially decrease the cost of computing, and Capability Based Security isn't required be…

Post by reader_mode » Thu, Jun 03, 2021, 10:59 PM UTC

dcolkitt wrote: post #128

reader_mode wrote: post #107

Earlier quoted context omitted.

> We have plenty of historical and current examples of governments imposing capital controls to restrict access to foreign currency. Very rarely does it result in the market price of the foreign currency going down. Usually quite the opposite. That's a nonsense comparison. When governments impose capital controls it means their currency is already sinking and it's a last ditch attempt to prevent this inevitable scena…

The US only constitutes 15% of global GDP. There's no reason to think that US investors represent an outsized position in crypto holdings. American funds may have large positions, but that's largely because the American asset managers tend to attract substantial overseas positions. There's no reason to think that, say a Japanese pension fund, that's invested in Grayscale is going to say, "oh shoot, guess there's no p…

Post by rawtxapp » Thu, Jun 03, 2021, 11:03 PM UTC

hocuspocus wrote: post #182

rsj_hn wrote: post #102

Earlier quoted context omitted.

Bitcoin is just math. The US isn't going to be able make holding bitcoin illegal, and I very much doubt it will ever be able to make the buying and selling of it illegal -- there are even free speech issues here. But what it can do is tax the hell out of it, regulate the exchanges as investment platforms, but they will have a hard time trying to make it illegal to pay someone to sign a cryptographic hash.

The US very much decides who, where, and what can be bought or sold in USD. Worldwide.