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

reuters.com

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

#11

Post by JumpCrisscross »

WrtCdEvrydy wrote: post #3
ocdtrekkie wrote: post #2

Whelp, that's the end of cryptocurrency... probably should sell your HODLings now. If we're going to Patriot Act the crud out of ransomware, Bitcoin is gonna be illegal.

Yeah, that's what happened with drugs. The price of drugs actually dropped to zero and it's now impossible to get LSD.

> that's what happened with drugs

Drugs are renowned as a special case when it comes to states' enforcement power. Currency control is not.

Outside failed states, capital controls and foreign currency restrictions have been historically well enforced and followed.

The U.S. banning cryptocurrencies, sanctioning connected individuals and firms and committing to leveling repeated 51% attacks would functionally destroy most cryptocurrencies. (There is zero indication this is being contemplated.)

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

#12

Post by bityard »

JumpCrisscross wrote: post #4

Curious if this will result in extraterritorial enforcement. For example, it's clear Moscow is either unwilling or unable to prosecute cyber criminals within its border.

I read that as "extraterrestrial enforcement" which sounded way more exciting.

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

#13

Post by chitowneats »

WrtCdEvrydy wrote: post #6
ocdtrekkie wrote: post #5

Earlier quoted context omitted.

I mean, does Bitcoin give people the sort of high that they'd risk going to prison for? I'm not sure nearly-random numbers has the staying power compared to addictive substances.

Yeah, opening it up and seeing 30%+ gains in a day does give me a sort of high.

You won't be seeing 30%+ gains when they're throwing people in prison for it.

Most drug users are never prosecuted. But the threat of prosecution does very little to affect the quality of their purchase, relative to what it would do to BTC market as a whole.

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

#14

Post by okareaman »

WrtCdEvrydy wrote: post #6
ocdtrekkie wrote: post #5

Earlier quoted context omitted.

I mean, does Bitcoin give people the sort of high that they'd risk going to prison for? I'm not sure nearly-random numbers has the staying power compared to addictive substances.

Yeah, opening it up and seeing 30%+ gains in a day does give me a sort of high.

Opening it up and seeing 30%+ losses in a day must be quite a come down

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

#15

Post by vmception »

WrtCdEvrydy wrote: post #3
ocdtrekkie wrote: post #2

Whelp, that's the end of cryptocurrency... probably should sell your HODLings now. If we're going to Patriot Act the crud out of ransomware, Bitcoin is gonna be illegal.

Yeah, that's what happened with drugs. The price of drugs actually dropped to zero and it's now impossible to get LSD.

I laughed so hard without my mask that I almost got kicked out of this WeWork

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

#16

Post by colecut »

WrtCdEvrydy wrote: post #3
ocdtrekkie wrote: post #2

Whelp, that's the end of cryptocurrency... probably should sell your HODLings now. If we're going to Patriot Act the crud out of ransomware, Bitcoin is gonna be illegal.

Yeah, that's what happened with drugs. The price of drugs actually dropped to zero and it's now impossible to get LSD.

I have to admit, it is harder than I would like

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

#17

Post by MattGaiser »

WrtCdEvrydy wrote: post #3
ocdtrekkie wrote: post #2

Whelp, that's the end of cryptocurrency... probably should sell your HODLings now. If we're going to Patriot Act the crud out of ransomware, Bitcoin is gonna be illegal.

Yeah, that's what happened with drugs. The price of drugs actually dropped to zero and it's now impossible to get LSD.

You generally can't exchange cash for Bitcoin all that easily. You need some part of the fiat electronic banking system to get from cash to Bitcoin.

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

#18

Post by cammikebrown »

WrtCdEvrydy wrote: post #3
ocdtrekkie wrote: post #2

Whelp, that's the end of cryptocurrency... probably should sell your HODLings now. If we're going to Patriot Act the crud out of ransomware, Bitcoin is gonna be illegal.

Yeah, that's what happened with drugs. The price of drugs actually dropped to zero and it's now impossible to get LSD.

It’s funny you say that, there actually was a huge LSD bust in 2000 that did make it harder to find for awhile.

https://en.m.wikipedia.org/wiki/William_Leonard_Pickard

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

#19

Post by JumpCrisscross »

ocdtrekkie wrote: post #2

Whelp, that's the end of cryptocurrency... probably should sell your HODLings now. If we're going to Patriot Act the crud out of ransomware, Bitcoin is gonna be illegal.

> If we're going to Patriot Act the crud out of ransomware, Bitcoin is gonna be illegal

Terrorist financing is illegal. Cash is not.

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

#20

Post by thereare5lights »

JumpCrisscross wrote: post #4

Curious if this will result in extraterritorial enforcement. For example, it's clear Moscow is either unwilling or unable to prosecute cyber criminals within its border.

We already do have extraterritorial enforcement.

https://en.wikipedia.org/wiki/Extraterritorial_jurisdiction#...

In fact, I would be surprised if we *didn't* have extraterritorial enforcement of any ransomware laws.

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