4 ms·
This is a strong (and worrying) example of the emergence of an increasingly cyberpunk flavor to criminal activity, a trend that I expect to see increase in the
by kyledrake 11y ago
This is a strong (and worrying) example of the emergence of an increasingly cyberpunk flavor to criminal activity, a trend that I expect to see increase in the future.
When I say "digital currency", most people think of things like Bitcoin, but actually most currencies in use today are digital, represented mostly in databases managed by the banks. I don't have the numbers, but less (possibly way less) than 10% is in physical circulation, and many people are surprised to learn the current estimate is that 2/3rds of the US Dollar is in circulation outside of the US.
We're far away from the days of The Great Riviera Bank Robbery. Modern bank heists (outside of the usual "crazy guy with a gun robs regional bank" crap) will be principally hackers, either brute forcing or socially engineering their way through the security systems that prevent them from moving our modernized digital money anywhere they want.
Invest in security, invest in cryptography (and learn how to use it). And I suppose, ponder the idea that what you participate in online can follow you offline too.
- samstave 11y agoAgreed, however, I, for one, want to see an increase in cyber crime. I want digital banks to be robbed. I won't explain it now, but I want the robbing rate to increase at the same rate as wealth concentration does, call it the Robin Hood Effect.
- refurb 11y agoThat makes sense. When a gov't is ripped off of tax money or your grandma's pension fund loses money to a criminal organization it's a great way to redistribute wealth to the poor.
- droithomme 11y agoIs it?
- nbclark 11y agoSarcasm I assume...
- deleted 11y ago[deleted]
- nstj 11y agoYou can grab M0 data from the Federal Reserve website each week which contains physical currency stats. https://research.stlouisfed.org/fred2/series/MBCURRCIR https://research.stlouisfed.org/fred2/series/MBCURRCIR