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The Ransomware Problem Is a Bitcoin Problem

lawfareblog.com

151–160 of 183 posts

Re: The Ransomware Problem Is a Bitcoin Problem

#151

Earlier quoted context omitted.

This is just a terrible argument. Often times, systems are compromised through social engineering so it's not even remotely possible to solve this issue by software engineering alone. But more importantly, think about the morality of what you are saying. It is absolutely not ethical to rob someone just because they are an easy target. I despise this sort of "technological nihilism." Just because something can be done…

I think you're reading a lot of stuff out of my comment that isn't there. I've spent most of my career doing software security, if that helps with context.

[deleted]

Re: The Ransomware Problem Is a Bitcoin Problem

#152
post #100

Earlier quoted context omitted.

Have you invented a magical currency that always retains its value? If so you should probabally let the world know.

I use the wonderfully stable US dollar.

The US dollar has lost 99% of its purchasing power since moving off the gold standard in 1933.

Wonderfully stable if you consider $1 in 1933 = $1 in 2021, inflation is hidden taxation and disproportionately affects widows and orphans.

Re: The Ransomware Problem Is a Bitcoin Problem

#153
post #15

Earlier quoted context omitted.

I'm not a cryptocurrency advocate but as arberx points out in another comment this is avoiding the real problem. The problem isn't cryptocurrency or ransomware. The root cause is what needs to be fixed: Software publishers and software owners are to blame for insecure systems. Software development is like the wild west with absolutely no accountability. This need to change.

To me this is like saying we shouldn't make it hard to make money off stolen goods or even police the streets, the problem is my houses security isn't good enough. We should just focus on making houses more secure otherwise its open game and your fault if someone steals from you. You know police in many states in the US get uploads of all pawn records and metal recycling to help track down and stop thieves from makin…

Well, first of all no one said it should be 100% secure but by far the most attacks are against systems so insecure and outdated that Windows 7 might be an upgrade. It takes minutes to find US water plants or the likes running Windows XP with internet access. That's not comparable to a house. That is a used plastic bag full of cash being blown down the street. Besides you house is secure exactly because your money isn't in you house but in a bank. Your argument should be "banks aren't fortresses because...." but that is what they are and so should important software.

Re: The Ransomware Problem Is a Bitcoin Problem

#154
post #70
post #51

Earlier quoted context omitted.

> Should we ban shipping? Shipping is pretty useful, though. What are the other major uses for Bitcoin?

Sending money over the internet. If you don't understand why that's an critical utility for billions of people on this planet, then you're not worth arguing with.

Is bitcoin really going to enable billions of people to send money over the internet? Or is it going to enable a very few people to send money over the internet?

This isn't a question about whether people want to use it. The question is, does bitcoin scale to that many users?

Re: The Ransomware Problem Is a Bitcoin Problem

#155
post #152

Earlier quoted context omitted.

I use the wonderfully stable US dollar.

The US dollar has lost 99% of its purchasing power since moving off the gold standard in 1933. Wonderfully stable if you consider $1 in 1933 = $1 in 2021, inflation is hidden taxation and disproportionately affects widows and orphans.

And bitcoin lost 30% of its value in the last month. So yes, the dollar is in fact wonderfully stable by comparison.

Re: The Ransomware Problem Is a Bitcoin Problem

#156

I'd like to hear how cryptocurrency advocates address this without deploying a fallacy. Cryptocurrency makes ransomware possible, without the former, the latter cannot thrive. The defenses I usually hear come in the form of "current banking facilitates bad stuff, too," which is a fact, but doesn't absolve cryptocurrencies central role in ransomware. As the article states, there is simply no way to pay a ransom withou…

Meaningful freedoms always include the possibility of abusing those freedoms. People will use the free exchange of ideas to advocate for falsehoods, start cults, and create political movements with terrible consequences. But they also use it to make the world a better place. New ideas that have advanced us as a civilization have generally started out as subversive and the freedom that allows them to grow to widespread acceptance is important. While the abuses are awful, and we can try to make the specifically abusive aspects illegal, it's hard to fully separate the good from the evil. In the end, the freedom to change to world for good always entails the freedom to change it for evil, too. But at least in this area, historically, the big wins wipe out the big losses -- and even if they didn't, I still want the wins.

This principle is true in almost every area of life. Strong encryption, for example, does help terrorists and cybercriminals, but it also helps revolutionaries and businessmen and ordinary citizens. I don't want to give too many examples because these things tend to be politically hot topics, and I don't want to distract from the central principle: meaningful freedoms can be abused, but are worth it because they also change the world.

I would say this is the case with cryptocurrencies as well. It is true that they enable certain criminal economies. Perhaps some of those economies would still function without cryptocurrencies, and perhaps some -- as the article suggests -- would no longer be viable. But cryptocurriencies enable people to build any economy they like without the approval or supervision of a state. There are places where the government does sort of a terrible job managing its money, where this is a major benefit to people. There are people doing things unpopular with some company or some government, who can still do them practically because of the economies enabled by cryptocurrencies. These people are by nature pretty subversive, and a lot of them are doing things I do not like -- but some are doing things I am very glad they are still able to do. Freedom's like that. Some people use it for evil. Some people use it for good. And the difficulties we have in all agreeing on what's good and evil (and the particular difficulties big governments and corporations have in getting the answer to that question right!) are why I'll almost always side broadly with freedom. When people use bitcoin to do criminal things, I'm all for prosecuting them for the crimes -- but leave bitcoin alone. The ability of people to run an economy without the government's permission is something I really like them to have.

Re: The Ransomware Problem Is a Bitcoin Problem

#158
post #53

I'd like to hear how cryptocurrency advocates address this without deploying a fallacy. Cryptocurrency makes ransomware possible, without the former, the latter cannot thrive. The defenses I usually hear come in the form of "current banking facilitates bad stuff, too," which is a fact, but doesn't absolve cryptocurrencies central role in ransomware. As the article states, there is simply no way to pay a ransom withou…

Heh, what? Ransomware existed long before cryptocurrencies. Money laundering via ACH, SWIFT, stolen credit cards, gift cards, and all sorts of online payment systems like PayPal are still huge, no cryptocurrencies required. Cryptocurrencies are used today because they're the most efficient way to make online payments, which is a net positive for everyone. It's just as easy to hunt down criminals using cryptocurrencie…

Before cryptocurrency, ransomware was tiny and pretty easily trackable if it grew too large. It was so tiny, barely anyone knew about it. Now it's multi-million dollar business for each of multiple ransomware groups. You can't launder that much money through gift cards, and definitely not from a single entity.

Pre-crypto ransomware was just dabbling in the idea and flying well below the radar of real enforcement. I really don't mind reclassifying that as proto-ransomware and not a real thing we experience these days.

Re: The Ransomware Problem Is a Bitcoin Problem

#159
post #152

Earlier quoted context omitted.

The US dollar has lost 99% of its purchasing power since moving off the gold standard in 1933. Wonderfully stable if you consider $1 in 1933 = $1 in 2021, inflation is hidden taxation and disproportionately affects widows and orphans.

And bitcoin lost 30% of its value in the last month . So yes, the dollar is in fact wonderfully stable by comparison.

No one is arguing that Bitcoin is stable. I was simply pointing out that the USD is not as stable as you presume on a long-enough timescale. In fact it loses approximately 100% of its purchasing power per century.

Re: The Ransomware Problem Is a Bitcoin Problem

#160

Earlier quoted context omitted.

This is just a terrible argument. Often times, systems are compromised through social engineering so it's not even remotely possible to solve this issue by software engineering alone. But more importantly, think about the morality of what you are saying. It is absolutely not ethical to rob someone just because they are an easy target. I despise this sort of "technological nihilism." Just because something can be done…

I think you're reading a lot of stuff out of my comment that isn't there. I've spent most of my career doing software security, if that helps with context.

Yeah I replied to the wrong post
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