Bitcoin Theft vs. Fiat Theft Levels? - page 2.

Kprawn

legendary

Activity: 1904

Merit: 1073

There are sooo many factors to take into consideration for this, to make the outcome a valid conclusion or argument.

1.   Bitcoin is a relative new technology/currency compared to fiat
2.   Fiat is not disruptive, so it has fewer enemies targeting it for failure.
3.   Bitcoin is used by a lot less people.
4.   Reported hacks/theft can be manipulated / hyped by people and the Press.
5.   What is the scope or definition of theft
6.   Fiat theft has become so common; it is not even being reported.

We just have to accept that ANY currency will be a target for theft ..... Humans are greedy by nature. Sad

Agestorzrxx

sr. member

Activity: 462

Merit: 250

If your bitcoin was stolen, you can't blame anyone, it is all your responsibility to keep your money safe.
But if your Fiat was stolen, you may blame the bank.

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: ebliever on March 17, 2015, 11:06:34 PM

I've been wondering for a while, but don't know where to start.... does anyone know of a way to compare quantitatively the levels of theft of bitcoins vs. the levels of theft of various fiat currencies? This is not a simply answered question, so it might be best addressed by some bright young grad student or researcher out there, but even some rough estimates might be helpful. For starters does anyone know of some statistics for the level of theft of fiat currencies (% of total market cap per year, for example)?

Sometimes I wonder if the tendency of crypto media to report and aggressively highlight stories of seemingly every BTC theft worldwide, even fairly minor ones, might be skewing everyone's perceptions. It would be ironic if crypto media sites were actually overdoing it and causing harm to their raison d'etre. (Though I do appreciate this news and wouldn't want it buried for the sake of those impacted, I just wonder if sometimes it is pushed too high in the news cycle. We don't hear of every $50,000 fiat theft in the U.S. in mainstream media, for example.)

I think you would have to narrow your parameters a bit to start. Say bitcoin theft versus debit account fraud or merchant services data breaches. There is so much fiat money stolen and lost every day it would be tough to quantify with any accuracy.

I do agree with you 100% about the media sensationalizing every bit coin theft.

ebliever

legendary

Activity: 1708

Merit: 1035

I've been wondering for a while, but don't know where to start.... does anyone know of a way to compare quantitatively the levels of theft of bitcoins vs. the levels of theft of various fiat currencies? This is not a simply answered question, so it might be best addressed by some bright young grad student or researcher out there, but even some rough estimates might be helpful. For starters does anyone know of some statistics for the level of theft of fiat currencies (% of total market cap per year, for example)?

Sometimes I wonder if the tendency of crypto media to report and aggressively highlight stories of seemingly every BTC theft worldwide, even fairly minor ones, might be skewing everyone's perceptions. It would be ironic if crypto media sites were actually overdoing it and causing harm to their raison d'etre. (Though I do appreciate this news and wouldn't want it buried for the sake of those impacted, I just wonder if sometimes it is pushed too high in the news cycle. We don't hear of every $50,000 fiat theft in the U.S. in mainstream media, for example.)

Topic: Bitcoin Theft vs. Fiat Theft Levels? - page 2. (Read 1583 times)