4 ms·

If I had 8 billion in cash in my bank account and put in a transfer order, they'd block it, call me, make me come into a branch, make sure there weren't any bur

If I had 8 billion in cash in my bank account and put in a transfer order, they'd block it, call me, make me come into a branch, make sure there weren't any burly guys with wrenches escorting me in, and maybe call the FBI if anything seemed off. And if it was still legit after that, there would be days or weeks of waiting for the transfer to actually happen, during which time I could call and cancel.

onlyrealcuzzo 1y ago
Also, for the rest of your life, you'd be able to get the people arrested who stole the money. So they'd either to kill you after, and it would be obvious why, and there'd be an easy lead on who. Your odds of getting away with stealing that kind of money conventionally are essentially zero.
yieldcrv 1y ago
> And if it was still legit after that, there would be days or weeks of waiting for the transfer to actually happen or you get a better bank to begin with most banks that call their slow processes "security purposes" are actually just putting up barriers to maintain liquidity. the banks that go bust are the ones that got clientele based on making it convenient to transfer
paulpauper 1y ago
But the criminal's stolen BTC are tainted. Exchanges will not accept them. procession of them is a crime
- jhasse 1y ago
  Mixers will though.
  - paulpauper 1y ago
    and then those bitcoin are tainted too due to association with the mixer
- FabHK 1y ago
  How fortunate that exchanges are centralized institutions that can be held accountable by law.
Marsymars 1y ago
Alright, so I can see it as a matter of scale. Recently there was a local case of someone extorting people by leaving threats in the mailboxes to not burn people’s houses down in exchange for $1k in bitcoin. But who would keep $8B in bitcoin without some protections in place to ensure that it can’t be easily transferred away, given the associated upside/downside? That’s... roughly as foolish as keeping $8B in actual cash/gold/gems (notwithstanding the logistical problems with the size/weight) under your mattress.

onlyrealcuzzo 1y ago

Also, for the rest of your life, you'd be able to get the people arrested who stole the money. So they'd either to kill you after, and it would be obvious why, and there'd be an easy lead on who. Your odds of getting away with stealing that kind of money conventionally are essentially zero.

yieldcrv 1y ago

> And if it was still legit after that, there would be days or weeks of waiting for the transfer to actually happen or you get a better bank to begin with most banks that call their slow processes "security purposes" are actually just putting up barriers to maintain liquidity. the banks that go bust are the ones that got clientele based on making it convenient to transfer

paulpauper 1y ago

But the criminal's stolen BTC are tainted. Exchanges will not accept them. procession of them is a crime

jhasse 1y ago
Mixers will though.
- paulpauper 1y ago
  and then those bitcoin are tainted too due to association with the mixer
FabHK 1y ago
How fortunate that exchanges are centralized institutions that can be held accountable by law.

Marsymars 1y ago

Alright, so I can see it as a matter of scale. Recently there was a local case of someone extorting people by leaving threats in the mailboxes to not burn people’s houses down in exchange for $1k in bitcoin. But who would keep $8B in bitcoin without some protections in place to ensure that it can’t be easily transferred away, given the associated upside/downside? That’s... roughly as foolish as keeping $8B in actual cash/gold/gems (notwithstanding the logistical problems with the size/weight) under your mattress.