Earlier quoted context omitted.
> Would it be smarter as a murderer-for-hire to ask to be paid in a less-expensive (for now) but growing currency such as Etherium or Litecoin? No, because the efficient market hypothesis. If you know that some asset is definitely going to significantly appreciate in value why don't you just buy it and skip out the hitman thing? The answer is that almost noone has any better idea of what the correct price should be t…
eFfiCiEnT MaRkEt HyPoThEsIs
Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
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Re: Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
#92Earlier quoted context omitted.
Don't need darkweb for that if you're very careful with how you execute trades on https://localbitcoins.com/ (a service that I believe predates coinbase, circle et al) Usually, one'd use a coin like Monero instead, the project's wretched history notwithstanding.
What is wretched about Monero's history?
Re: Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
#93Earlier quoted context omitted.
I mean pragmatically not abstractly. Bitcoin transaction fees were >$50 recently, so it's useless as a form of payment, and nothing is keeping it from being worthless tomorrow so it's a poor parking spot for money.
Pragmatically, I can buy things online without having to give up my name and address. That's a win for me.
Re: Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
#94Re: Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
#95There's this misconception that bitcoin is private / "safe" for criminals. In reality, the block chain is public (and all of its transactions inside... that is how distributed ledger consensus is achieved among miners) and the on-ramps and off-ramps between fiat are all logged / tracked, especially Coinbase (since they are taking the "safe route" and playing by all of the rules with governments / regulators). Your la…
> There's this misconception that bitcoin is private / "safe" for criminals. Is this why we've successfully caught every single ransomware operation transacting in crypto?
Re: Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
#96Yes; I realize the dystopian possibilities. But if we trust law enforcement, and we believe that the laws are and will always be just, then we should want to help them.
Either way, it’s already happening in secret. The question is really whether it should happen in the open.
Re: Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
#97The heck?
Re: Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
#98Earlier quoted context omitted.
> There's this misconception that bitcoin is private / "safe" for criminals. Is this why we've successfully caught every single ransomware operation transacting in crypto?
To be fair, you have to look at the enormous number of ransomware operators that are conducting their business in fiat... Humm. I suppose that there aren't very many of them. Perhaps cryptocurrencies do make some forms of criminal enterprises much easier to operate. I'm willing to accept that 'Hitman for hire' might not be one of them, though - mostly because you need a local presence, at which point, taking payment…
You still need to be local to perform the assassination, but the time and location are still vague. It's basically "somewhere the person will be at some point in the future". Makes it a lot harder to stage a sting because you can't have people set up everywhere that person will be at all times.
We're also not terribly far away from remote assassinations being possible. There was an assassination in Iran that allegedly used a computer to control a machine gun to kill someone. Combine that with a self-driving car, or a remotely operated car, and you've got a hitman mobile. Or the cheap and low-tech route, strapping explosives to drones. The cartels have already started using them, so it's not improbable that you could pilot one across the world. Pay the cartel to set up a drone and give you the credentials to control it and you don't even have to leave your home.
> It would be quite difficult to operate a ransomware operation out of, say, Belarus if you expected your victims to pay by posting you envelopes stuffed with cash.
I don't think that's really true. At the scale of money we're talking about, hiring a courier to handcuff the money to their wrist and fly across the world wouldn't be an excessive cost. The primary downside is the same; there's a known location where the money will be left and picked up.
Re: Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
#99Earlier quoted context omitted.
Bitcoin's usefulness comes from being able to transact value without a centralized authority. There are no gatekeepers to determine who can transact with whom, to assign value to a medium, or to take that value away. It is democratization of financial power.
I mean pragmatically not abstractly. Bitcoin transaction fees were >$50 recently, so it's useless as a form of payment, and nothing is keeping it from being worthless tomorrow so it's a poor parking spot for money.
Re: Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says
#100Earlier quoted context omitted.
https://en.wikipedia.org/wiki/Monero#History
What is wretched in there?
I can see a lot of value in it though, just like how I see value in Freenet, I2P, Tor and other such overlay networks.