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Is being a bitcoin millionaire more risky than being a euro millionaire?

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  • 27-02-2018 10:43pm
    #1
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭


    I seem to be reading quite a few stories about people holding large quantities of bitcoins being kidnapped and violently beaten up (if not crippled) to force them to surrender the content of their wallet. For exemple: https://cointelegraph.com/news/russian-crypto-developer-beaten-robbed-of-300-btc-on-moscow-streets

    A lot of it seems to be in Eastern Europe and Russia so it probably has to do with crime issues in those countries at least as much as with bitcoins. But I was wondering if holding a large amount in bitcoins makes people are "better" victim than holding the same amount on a bank account. Two reasons I can think of is that transferring large amounts probably easier to do with bitcoins than through a bank transfer, and that there is much less traceablility of the funds making the job of the police harder.

    What do people think?


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    #2
    Matt Simis
    Registered Users Posts: 8,718 ✭✭✭Matt Simis


    I think its far easier to find out whats in someones bank account than what/if/how much is in their crypto account. Exciting stories for a new industry, dull under reported story for the old world equivalent..


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    #3
    Dohnjoe
    Registered Users Posts: 18,034 ✭✭✭✭Dohnjoe


    When people are their own banks, then yes they can be kidnapped and forced to hand over coins

    I would wager much of this comes from word of mouth - starting with the person telling others how much money they are worth in crypto

    It's one of the many reasons we'll see crypto-safeholding institutions (banks) in the future


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    #4
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Dohnjoe wrote: »
    It's one of the many reasons we'll see crypto-safeholding institutions (banks) in the future
    I'm sure you're right. In the meantime, you could DIY it by splitting the key up in a few safety deposit boxes or similar.


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    #5
    lifeandtimes
    Closed Accounts Posts: 2,021 ✭✭✭lifeandtimes


    makeorbrake wrote: »
    I'm sure you're right. In the meantime, you could DIY it by splitting the key up in a few safety deposit boxes or similar.

    Don't you mean safeKEY deposit box?

    ........ill show my self out


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    #6
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    lifeandtimes wrote: »
    Don't you mean safeKEY deposit box?
    ........ill show my self out
    If not already, a career in marketing perhaps? :D


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