Bitcoin extends losses after U.S. seizes most of Colonial ransom
1–10 of 116 posts
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#2Correlation is not causation.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#3Event 1 as story 2 happens. This always drives me nuts about financial reporting.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#4I find it amusing how all the news reports gloss over the fact that the FBI somehow got access to the wallet’s private key.
I’m also wondering why the hackers didn’t request payment in a currency that’s more difficult to trace.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#5Correlation is not causation.
True, but chanting that at every correlation you see is a great way to never learn from anything.
To be honest it's a bit hard to believe this reporting has nothing to do with the price dropping ~10%, given that one of BitCoin's big parts of its value prop is precisely supposed to be that governments can't do this.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#6Correlation is not causation.
True but the cryptocurrency world doesn't seem to understand that. They're always tying events to price rises, and making proclamations about what will happen to the price in the future as a result.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#7Event 1 as story 2 happens. This always drives me nuts about financial reporting.
Yes, it's a dark pattern in journalism. They hint at causation while having plausible deniability. Used to bother me too when I checked Yahoo Finance, every other day the market would be up/down "as" whatever happened that day that might have anything to do with the economy.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#8Correlation is not causation.
Indeed. $2.3 million dollars of BTC isn't too much.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#9I find it amusing how all the news reports gloss over the fact that the FBI somehow got access to the wallet’s private key. I’m also wondering why the hackers didn’t request payment in a currency that’s more difficult to trace.
People should take care to distinguish pseudo-anonymous chains like btc from anonymous ones like zerocoin.
As soon as the ransom payment was transacted, the whole world could watch the chain and see the next step in its travel.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#10Correlation is not causation.
In science, yes. In the financial markets I’m not so sure the truism holds.