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Algernon Moncrieff

(5,961 posts)

50. Bitcoin is also the currency of choice in ransomware scams

Mon Dec 4, 2017, 03:08 AM

Dec 2017

I met a man whose business got hit. He paid, and his computers were freed. Half of the adventure was actually getting the bitcoin.

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Neo-Nazi Wealth is Rapidly Growing. Why? Bitcoin. [View all] Orrex Dec 2017 OP

How do they translate the bitcoins into U.S. currency? There is a law against shraby Dec 2017 #1

There are bitcoin ATMs now Egnever Dec 2017 #2

They sell it like any other commodities Lee-Lee Dec 2017 #3

Are you sure that's what the law says? "Legal tender" means that it must be accepted muriel_volestrangler Dec 2017 #22

Now that was really interesting ismnotwasm Dec 2017 #4

Who better to chase a "get rich quick" scheme? Wounded Bear Dec 2017 #18

True that. ismnotwasm Dec 2017 #26

As with many organizations, the leaders might live better than the other members IronLionZion Dec 2017 #40

I remember when these crazy people were buying gold. Sophia4 Dec 2017 #5

Many of these time wasters are now millionaires after a 10 dollar initial investment Tiggeroshii Dec 2017 #7

You mean they own millions in bit-coins? Sophia4 Dec 2017 #14

No. Meaning they own millions of dollars. Tiggeroshii Dec 2017 #16

The people who bought the bitcoins were foolish. Sophia4 Dec 2017 #17

You needed to buy them to sell them. Tiggeroshii Dec 2017 #20

Many companies accept Bitcoin for payment, and the list gets longer everyday ToxMarz Dec 2017 #41

Citation, please Orrex Dec 2017 #24

Heres one Tiggeroshii Dec 2017 #28

You wrote "many" Orrex Dec 2017 #29

Two Tiggeroshii Dec 2017 #30

3-9 Tiggeroshii Dec 2017 #31

So, on balance, not as good a return as Amway. Orrex Dec 2017 #32

Lol probably Tiggeroshii Dec 2017 #34

But seeing how it went from 10 cents to 10 thousand in 10 years, i wouldnt be Tiggeroshii Dec 2017 #33

LOL. Exactly. Orrex Dec 2017 #35

Until they sell the bitcoins, it's paper... Adrahil Dec 2017 #47

Agreed. Tiggeroshii Dec 2017 #48

Clearly everybody else needs to get in on it and start pushing for Tiggeroshii Dec 2017 #6

There are many YouTube stars who were on the left DangerousUrNot Dec 2017 #8

my son says he can make bitcoins sarah FAILIN Dec 2017 #9

The bitcoins that he creates don't count for anything unless he's "selected" Orrex Dec 2017 #10

Bitcoin is no different than other fiat currencies in that regard. tritsofme Dec 2017 #23

Well, yeah...he might "mine" one bitcoin in a thousand years ret5hd Dec 2017 #11

Almost all Bitcoins have been mined already ProudLib72 Dec 2017 #19

Bitcoins have now been approved for trading HopeAgain Dec 2017 #12

That tells us one thing and one thing only: Orrex Dec 2017 #13

bitcoin futures Mosby Dec 2017 #15

Scam of the century BannonsLiver Dec 2017 #21

I must be the dimmest bulb on the planet, but I don't understand how bitcoins Vinca Dec 2017 #25

Think of it as a commodity that someone has declared to have value Orrex Dec 2017 #27

Like tulips, once. Hope the wannabe Hitlers all go broke. Fred Sanders Dec 2017 #37

They don't exist. sarah FAILIN Dec 2017 #46

That's what I mean. But are there people dumb enough to sell gold for bitcoins? Vinca Dec 2017 #51

You cant advise anyone you like to buy bitcoin, keithbvadu2 Dec 2017 #36

I'll just address this to many of the commenters here: Don't be these people... tandem5 Dec 2017 #38

We certainly don't need to embrace every passing fad, either. Orrex Dec 2017 #44

The racists have been using the internet to their advantage. Initech Dec 2017 #39

When Bitcoin is at $100K in a year or two are people still gonna be hating? Calculating Dec 2017 #42

Give me a few thousand, and I'll consider it. Orrex Dec 2017 #43

In those case pushing them off traditional payment methods has backfired short term Lee-Lee Dec 2017 #45

What a rubbish post... JCMach1 Dec 2017 #49

Bitcoin is also the currency of choice in ransomware scams Algernon Moncrieff Dec 2017 #50

Nazis and tax-cheats samir.g Dec 2017 #52