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Topic: Bitcoin is in trouble - page 6. (Read 4577 times)

legendary
Activity: 1008
Merit: 1001
In Cryptography We Trust
February 18, 2016, 09:14:34 AM
#27
After this...I think congress is going to come down on bitcoin in the US

http://www.bitcoinvalues.net/hollywood-hospital-pays-hackers-40-bitcoin-worth-17000-release-computers.html

How many illegal activities are taking place right now based on the US dollar and other fiat currencies?
legendary
Activity: 1470
Merit: 1001
February 18, 2016, 09:04:33 AM
#26
I don't like this king of news about bitcoin, but in my opinion the problem is that this hospital, and lot of companies and public organizations don't invest enough on security. If they don't invest on security they will be hacked more than once a year, it don't depends on bitcoin, if bitcoin didn't exist they would use other payment systems.
newbie
Activity: 57
Merit: 0
February 18, 2016, 08:55:35 AM
#25
The news is true and will be spinned to death. It was only about time anyway
legendary
Activity: 2786
Merit: 1031
February 18, 2016, 08:47:23 AM
#24
As Taylor said and very well:

Quote
Cost to pay Bitcoin ransom: $17k
Cost to hire an IT security person: $85k

Sorry nerds the math doesn't work.

https://twitter.com/SwiftOnSecurity/status/700138172324261889

It's simply much cheaper paying ransoms than having decent security...

85,000 USD to hire an IT security person? really? this is his salary for how long? 1 job?

even if that number is true , paying ransom means they can get hacked the next day and have to do it again and again, the hacker might even leak their security holes online so any novice hacker can get in and mess with their systems.

It's year salary.

Decent infosec professionals are expensive because they're rare and highly specialized.

People in charge, usually, don't understand IT security, they go with what's cheaper now, and they cannot be prosecuted because they have a crappy system.
sr. member
Activity: 395
Merit: 250
February 18, 2016, 07:52:15 AM
#23
This should not blame bitcoin, if bitcoin should be blamed, then why not blame the people who invented the computer?
hero member
Activity: 896
Merit: 1000
Live Stars - Adult Streaming Platform
February 18, 2016, 07:39:46 AM
#22
yet another media crap in desperate attempt to make bitcoin look bad. i wonder when they are going to sop.
every media will post any interesting news which can get high traffic come into their website,even it'll make someone looks bad,they don't even care,otherwise it dosen't give strong affect tho
It is not in trouble now. But I think it just have a low value and many people are very negative about it. I hope later that it will be more worth.
If Bitcoin will becoming more popular later, I think then that the value will rise in the future and I also hope that many people will use it.
legendary
Activity: 1652
Merit: 1007
DMD Diamond Making Money 4+ years! Join us!
February 18, 2016, 07:39:39 AM
#21
After this...I think congress is going to come down on bitcoin in the US

http://www.bitcoinvalues.net/hollywood-hospital-pays-hackers-40-bitcoin-worth-17000-release-computers.html

Sure Bitcoin is to blame. Not weak security system who allowed hackers to do this and not scum hackers who did this. Let s blame computers or internet for this. After all, hackers needed both to perform this shit. 
hero member
Activity: 1106
Merit: 521
February 18, 2016, 07:34:44 AM
#20
Whats this got to do with bitcoin?  if it had been a ransom in $ or £ would you have said they where in trouble also.  i doubt it  Huh

They would have probably been better off getting it in $ it is probably less trackable than bitcoin.  I think institutions need to look at there security level constantly in this ever changing technical world.  its no good to just sit back and use outdated security.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
February 18, 2016, 07:28:28 AM
#19
yet another media crap in desperate attempt to make bitcoin look bad. i wonder when they are going to sop.
every media will post any interesting news which can get high traffic come into their website,even it'll make someone looks bad,they don't even care,otherwise it dosen't give strong affect tho
legendary
Activity: 3248
Merit: 1070
February 18, 2016, 07:32:40 AM
#19
fake

it's all over the net

it's true paying 17,000$ to hackers is more efficient than paying 20,000$ to completely reboot everything from non existing backups.

well this is their fault after all, if they had a backup in the first place all this mess would be nullified

as long as they don't blame bitcoin for their incompetence, all those news are pointless for the bitcoin growth, at worst they could instigate a small dump...
legendary
Activity: 2170
Merit: 1427
February 18, 2016, 07:27:09 AM
#18
Bitcoin isn't in trouble.... This is the fault of the companies that don't invest in proper security measures. I used to work at a company that processes paychecks, and what I have been seeing there was just ridiculous. Computers running outdated software, nearly half of the computers didn't have a proper antivirus installed, etc. And why? Because they don't want to invest a single penny into their security. Pure rubbish.
legendary
Activity: 1946
Merit: 1137
February 18, 2016, 07:13:38 AM
#17
As Taylor said and very well:

Quote
Cost to pay Bitcoin ransom: $17k
Cost to hire an IT security person: $85k

Sorry nerds the math doesn't work.

https://twitter.com/SwiftOnSecurity/status/700138172324261889

It's simply much cheaper paying ransoms than having decent security...

85,000 USD to hire an IT security person? really? this is his salary for how long? 1 job?

even if that number is true , paying ransom means they can get hacked the next day and have to do it again and again, the hacker might even leak their security holes online so any novice hacker can get in and mess with their systems.
legendary
Activity: 2786
Merit: 1031
February 18, 2016, 06:46:42 AM
#16
As Taylor said and very well:

Quote
Cost to pay Bitcoin ransom: $17k
Cost to hire an IT security person: $85k

Sorry nerds the math doesn't work.

https://twitter.com/SwiftOnSecurity/status/700138172324261889

It's simply much cheaper paying ransoms than having decent security...
copper member
Activity: 924
Merit: 1007
hee-ho.
February 18, 2016, 01:17:09 AM
#15
yet another media crap in desperate attempt to make bitcoin look bad. i wonder when they are going to sop.

in cases such as this blame the criminals. if they didn't ask for bitcoin ransom the media wouldn't have a legit material and they'll stick to their usual over-exaggerated and false "facts".
legendary
Activity: 1372
Merit: 1032
All I know is that I know nothing.
February 18, 2016, 01:08:01 AM
#14
yet another media crap in desperate attempt to make bitcoin look bad. i wonder when they are going to sop.
legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
February 18, 2016, 12:57:36 AM
#13
Ransomware is nothing new, it has been around way before Bitcoin. These guys used other methods to force people to pay them. < Wire transfers / Credit Cards / PayPal > all done with fake identity documents. The government should rather use their Cyber crime unit to track down these people and convict them with harsh penalties to send a clear message.

You cannot kill a payment method, because a small percentage of people use it for crimes.
legendary
Activity: 2828
Merit: 2472
https://JetCash.com
February 18, 2016, 12:28:02 AM
#12
I think it's America that's in trouble, not Bitcoin. Bitcoin is here to stay - embrace it, or slip further back in world trade. The US has got one of the worst banking systems in the world, you still have to rely on cheques for some international funds transfers. They tried to screw the Russian banks, and this caused the re-patriation of US dollars by many Russian businesses. This has strengthened the Russian banking system, and provided funds for investment in Russia. The US needed to keep those dollars, but politicians with myopic political views don't seem to understand the results of their actions. Their attacks On the Bitcoin concept is yet another example of this lack of knowledge and common sense.
legendary
Activity: 3234
Merit: 1055
February 18, 2016, 12:23:03 AM
#11
Let's hope the Feds are canny enough to use the blockchain to track the funds until the thieves slip up and make a transaction that enables them to be identified.

That would take forever though. hackers are also smart enough to learn to mix and use different addresses and may transact with the rest of the shady individuals which can be hard to track down as well.
Authorities will have to track each of these individuals which is going to be hard for them since they don't cooperate.  so good luck to them.
full member
Activity: 224
Merit: 100
Defender of Bitcoin
February 18, 2016, 12:17:09 AM
#10
Let's hope the Feds are canny enough to use the blockchain to track the funds until the thieves slip up and make a transaction that enables them to be identified.

i can never understand this. people always say this about Feds tracking the coins but it is not possible if they use a mixer!
i mean coins go in one way and come out in multiple transactions (from different set of addresses) with time interval between them in different sizes, how the hell can they track that?

Yeah I highly doubt it that the FBI will be able to trace the coins once they are sent through a mixer.
legendary
Activity: 2968
Merit: 3406
Crypto Swap Exchange
February 18, 2016, 12:15:46 AM
#9
The problem with this is the hospital itself funding the hacker. This way, more hackers get encourage of doing the same (with the expectation of getting what they want). Wrong move IMO and they should have tried to find the hacker instead but now his gone but there's no assurance that he won't do it again in some time soon. Is there a transaction address that we could check for this funding?
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