I think if things get to this point, its time to leave the country. Sure, you might not be able to access your bitcoin, but it will work anywhere else around the world. How are you going to access your house value if this is where you store your wealth? Even your bank account might be off limits if you have to run. I do accept that without the Internet, Bitcoin isn't working in that area, but this will just provide you with the reasons to pick up and leave for good. I don't think this will ever happen to the US unless it will have truly fallen, and in this case, you would hope that your wealth is stored in something very portable.
And its far from a bitcoin or crypto issue. If you flash your wealth around,the bad guys may come. Theyll come for the cash in your safe,the jewellery in your safe,the gold bars in your safe. You will hand over the combo to your safe long before they take a finger. Its a crime discussion,not a crypto discussion. In a crime discussion however,I will concede that if they kidnap your kid and actually expect a ransom for release,you will be paying in crypto.They are likely to have done their homework.In this scenario,crypto would actually be your best shot at a good outcome.
Yup, there are videos out there captured on security camera, rich folks being followed to their home, home invasion is the worst, rich people getting robbed with their $100k watches while having lunch at a nice restaurant, No need to die for material things or money, you get my kids, you get everything you ask, even my life don't harm them... Bitcoiners' problem is by reputation, my family and friends won't rob me, but some stories somewhere overheard by the wrong people, who knows,, won't be easy since not in the same country i was living before and i do not have enough to bother with, when bitcoin goes to $1M, $5M, $10M, bitcoiners will upgrade the security around them, at least that's the plan, lol
Correct, because you guys NEVER came up with a good defense against it. When you find one, I am listening. Just admit that living in fear and behind security is your best option. By the way, I do have a solution, because I am a practical guy. Having a smaller sacrifice-able wallet. Just like when you are a tourist in a catchy neighbourhood, it is nice to have a second wallet with some money in it. The robber wants quick cash, not your CC. So let's say you have 5 mill in crypto. You tell them the password is in a bank or the crypto is in an institution instructed never give out more than 10% at any given time. But you do have a smaller wallet and they can take it. So you lose let's say 200K or 500K, but you live to tell the story, and the robbers at least got something for their trouble. You are welcome. https://www.linkedin.com/pulse/crypto-has-murder-problem-matt-hussey "The woman was forced to take Ketamine, a powerful sedative, and held captive for two days, before being suffocated. The assailants drove to the nearby city of Daejeon and dumped the body near a reservoir. ....the motive was to kidnap the woman and force her to give up her crypto as a form of retribution for the lost money. Police have arrested seven in connection with the killing, with motives all seemingly focused on crypto investments going awry. "
same article > nearly $776 million was stolen in 32 separate attacks last year alone. How much of that was reported to local enforcement? Not much. Confidence is low because crime often happens across borders, with criminals sitting in countries and regions either obscured or out of the remit of local police. A lack of regulation only builds on the idea that crypto is the Wild West, and if you lose money, that’s your fault.
No this is a crypto specific problem. People using traditional finance mostly do not keep millions in untraceable bearer bonds in their personal vault like we're in some movie. People generally keep small, non-life-changing amounts of cash and cash like assets on hand only. Banks have been around for hundreds of years for a reason. Even if they had large amounts of gold or other bearer assets on hand to steal, the thief still has to smuggle them out of the country. Bitcoin, by design makes things like armed robbery or kidnapping for ransom much easier. No pesky questions like "how am I going to transport all these gold bars overseas and then unload them without drawing suspicion?" One guy with a USB stick cannot walk out the door with all of some LBMA firm's gold. They could walk out the door with they keys to drain the entire holdings of a Bitcoin ETF. If the NSA couldn't keep Snowden from making it out with a memory card, can you really trust a Bitcoin ETF? A crypto currency designed for legitimate business use would implement things like Multi-tiered approvals Clearing delays Third party approvals Identity verification Designation of specific jurisdiction in the evert of dispute
Funny, I was looking at the wallet.dat file from BTC mining I did I 2012 last night on an old Ironkey type drive. I won't respond to PMs on this obviously, the reason it gathered dust is to do with how crypto boosted the black market trade in endangered animals and, I used to be an anti-poaching ranger. I did use some to get information back in the Silk Road days and of course delighted to see that moral vacuum number one has just had a pardon... Whats the old saying, the best trick the Devil every pulled was convincing people he did exist. Possibly though inventing libertarians to give a fig leaf to crypto was a good trick too..
Maintained list of reported physical bitcoin/crypto attacks. https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md Be anonymous, and stay safe.