5 ms·

I can't think of anything that comes close to being as hard to seize as cryptocurrency

by plsbenice34 2y ago

vasco 2y ago
Everything has the same difficulty of seizure when a few guys with hammers and pliers surround you.
- ty6853 2y ago
  Something like Monero, they have no idea how much you have unless you flaunt it. Just pretend like you're in LATAM and have a decoy wallet you're ready to lose.
- plsbenice34 2y ago
  I have an unknown number of monero wallets that have not been declared anywhere. If I give you just a few of them, it has the same outcome for the torture as giving you all of them, so it is rational in all ways for me to not give it all up
  - pavel_lishin 2y ago
    > If I give you just a few of them, it has the same outcome for the torture as giving you all of them Where's the incentive for me to stop hitting you with a hose? Maybe a few more wallets will shake loose. And if not, oh well.
  - vasco 2y ago
    The torturer can think the same way, why stop? I wonder how long you keep resisting after giving up 2 decoy wallets and they keep at it. They can keep at it even after you give all the real ones too just in case.
exabrial 2y ago
Try taking my $5. It’s on my counter.
JumpCrisscross 2y ago
> can't think of anything that comes close to being as hard to seize as cryptocurrency Really? It's digital. It can be accessed anywhere. You just force the person to give it to you. Why do you think crypto executives are such popular K&R targets?
- olalonde 2y ago
  Because crypto is hard to seize... Once the ransom is paid, good luck getting it back.
  - JumpCrisscross 2y ago
    > crypto is hard to seize Crypto is constantly being seized. And unlike cash, you can't publicly taint every account that interacts with the dirty money.
    - olalonde 2y ago
      "Tainting" is a made up thing, people use "tainted" coins all the time without any issue. Crypto is occasionally being seized, mostly from poorly informed criminals, but it still requires a lot more work than seizing a bank account.
      - JumpCrisscross 2y ago
        > "Tainting" is a made up thing, people use "tainted" coins all the time without any issue People use dirty bills all the time with no issue, too. I need to look up who our background check provider is, but I've seen people flagged as a high risk (twice in client onboarding, once in a deal, once in an employment context) due to a known or probably-known wallet having a high frequency of high-risk transactions. That's, put simply, not visibility I have into anyone's bank account. In two of the cases we added safeguards (at client and counterparty's cost) and in two I declined to proceed.
        olalonde 2y ago
maxerickson 2y ago
If was actually particularly used for things, stuff that couldn't be seized would be tainted.

I can't think of anything that comes close to being as hard to seize as cryptocurrency

vasco 2y ago

Everything has the same difficulty of seizure when a few guys with hammers and pliers surround you.

ty6853 2y ago
Something like Monero, they have no idea how much you have unless you flaunt it. Just pretend like you're in LATAM and have a decoy wallet you're ready to lose.
plsbenice34 2y ago
I have an unknown number of monero wallets that have not been declared anywhere. If I give you just a few of them, it has the same outcome for the torture as giving you all of them, so it is rational in all ways for me to not give it all up
- pavel_lishin 2y ago
  > If I give you just a few of them, it has the same outcome for the torture as giving you all of them Where's the incentive for me to stop hitting you with a hose? Maybe a few more wallets will shake loose. And if not, oh well.
- vasco 2y ago
  The torturer can think the same way, why stop? I wonder how long you keep resisting after giving up 2 decoy wallets and they keep at it. They can keep at it even after you give all the real ones too just in case.

exabrial 2y ago

Try taking my $5. It’s on my counter.

JumpCrisscross 2y ago

> can't think of anything that comes close to being as hard to seize as cryptocurrency Really? It's digital. It can be accessed anywhere. You just force the person to give it to you. Why do you think crypto executives are such popular K&R targets?

olalonde 2y ago
Because crypto is hard to seize... Once the ransom is paid, good luck getting it back.
- JumpCrisscross 2y ago
  > crypto is hard to seize Crypto is constantly being seized. And unlike cash, you can't publicly taint every account that interacts with the dirty money.
  - olalonde 2y ago
    "Tainting" is a made up thing, people use "tainted" coins all the time without any issue. Crypto is occasionally being seized, mostly from poorly informed criminals, but it still requires a lot more work than seizing a bank account.
    - JumpCrisscross 2y ago
      > "Tainting" is a made up thing, people use "tainted" coins all the time without any issue People use dirty bills all the time with no issue, too. I need to look up who our background check provider is, but I've seen people flagged as a high risk (twice in client onboarding, once in a deal, once in an employment context) due to a known or probably-known wallet having a high frequency of high-risk transactions. That's, put simply, not visibility I have into anyone's bank account. In two of the cases we added safeguards (at client and counterparty's cost) and in two I declined to proceed.
      - olalonde 2y ago

maxerickson 2y ago

If was actually particularly used for things, stuff that couldn't be seized would be tainted.