The best thing would just be to act like a good politician.
"The Bitcoin community will unite, and we will put all of our strength into finding these hackers.
Make no misstake, this it the top on our agenda."
Then do...Nothing
But I really see the extortion as Bitcoins weakness. If its possible.
My understanding was that it would had been foolish to do something like this.
Because with enough resources something like this would be very very hard to pull of.
And maybe it really is.
As I earlier wrote that when a kidnapping happens, Bitcoins risc being made illegal atleast in a few countries, based simply on public opinion.
Noone will react, because they understand jack shit about money and Bitcoin.
To many of them its probably just a scam.
Topic: Bitinstant brokering extortion threats? - page 4. (Read 7313 times)
We should be thanking them for turning something bad for Bitcoin into something that could actually help Bitcoin grow...the general public now has something to read from our perspective when they google this Romney stuff...
Yes, I think he realized that Bitcoin was being ignored in all the Romney discussion and comments. This was a way to make the story more about Bitcoin. It's pretty clear to any thinking person that Romney isn't going to be paying the ransom so it's pretty safe to offer to help him. Getting attention is what marketing is about. 
I think BitInstant didn't do anything so terrible. Because everyone knows there never was a real extortion threat, BitInstant doesn't look bad for offering to help out in jest.
This.
Bitinstant didn't do this for Romney - they did it for all the tens of thousands of people who are now researching Bitcoins after reading the article about the attempted extortion, and are wondering how to easily acquire Bitcoins for themselves. Read the latter portion of Erik's quote:
He makes the business sound incredibly helpful to newbies. Which is exactly who will be reading the article, and exactly who will end up purchasing Bitcoins through Bitinstant because of it. Even though he is addressing Romney in the quote, he is really addressing all of the people who have just heard about Bitcoin for the first time.
Oh, and does everyone realize that both presidential candidates now know full well what Bitcoin is?
Quote
Not only that, we’ll also show you how to safely use a Bitcoin wallet, back up and encrypt it, and make payments. We’ll even set you up with a Bitcoin app on your iPhone! You’ll be a Bitcoin expert in no time!
He makes the business sound incredibly helpful to newbies. Which is exactly who will be reading the article, and exactly who will end up purchasing Bitcoins through Bitinstant because of it. Even though he is addressing Romney in the quote, he is really addressing all of the people who have just heard about Bitcoin for the first time.
Oh, and does everyone realize that both presidential candidates now know full well what Bitcoin is?
We should be thanking them for turning something bad for Bitcoin into something that could actually help Bitcoin grow...the general public now has something to read from our perspective when they google this Romney stuff...
I've been paying pretty close attention for a little over a year now. Until recently I kinda just watched and waited while hustling a few coins to pay for my lunch.
Just curious: what made you change your attitude?
If you're referring to the fact that Romney accepting the offer might increase the bitcoin price and therefore increase my fiat-denominated revenues, I can do without it. In fact I think in the long term it will damage the value of BTC more than it will boost it.
This is an important point in all of this. I am in BTC for the long term. This may help the PRICE in the short run, but it is detrimental to BTC in the long term.I've been paying pretty close attention for a little over a year now. Until recently I kinda just watched and waited while hustling a few coins to pay for my lunch. But now you have the attention of powers you cannot control. Cash out while you can is now the defacto battle cry of this community.
It's become super super fun to watch it play out.
The 70s came and went and the lucky ones cashed out while they could. The communes all failed and those "draft dodging hippies" all got with the program. It's happening here too. You started out with a grand idea. How long did it take to get robbed? A month? The robberies and the scams associated with anything of value appear to be crushing bitcoin exponentially. There has even been of banning tainted coins by major exchanges. There will be some point in the not so distant future when so few coins are being mined that all of the coins will have a taint level unacceptable for usual trading.
I pray that
Oh shit, pray? dude... prey is what the main activity is around here.
I think BitInstant didn't do anything so terrible. Because everyone knows there never was a real extortion threat, BitInstant doesn't look bad for offering to help out in jest.
This.
Bitinstant didn't do this for Romney - they did it for all the tens of thousands of people who are now researching Bitcoins after reading the article about the attempted extortion, and are wondering how to easily acquire Bitcoins for themselves. Read the latter portion of Erik's quote:
He makes the business sound incredibly helpful to newbies. Which is exactly who will be reading the article, and exactly who will end up purchasing Bitcoins through Bitinstant because of it. Even though he is addressing Romney in the quote, he is really addressing all of the people who have just heard about Bitcoin for the first time.
Oh, and does everyone realize that both presidential candidates now know full well what Bitcoin is?
Quote
Not only that, we’ll also show you how to safely use a Bitcoin wallet, back up and encrypt it, and make payments. We’ll even set you up with a Bitcoin app on your iPhone! You’ll be a Bitcoin expert in no time!
He makes the business sound incredibly helpful to newbies. Which is exactly who will be reading the article, and exactly who will end up purchasing Bitcoins through Bitinstant because of it. Even though he is addressing Romney in the quote, he is really addressing all of the people who have just heard about Bitcoin for the first time.
Oh, and does everyone realize that both presidential candidates now know full well what Bitcoin is?
I don't run a blog and Forbes doesn't write articles about me, so I'm not sure I follow you here.
I'm referring to the fact that you, personally, could be responsible for relaying or hashing the actual Bitcoin transaction
Oh right, I must have been sleepwalking when I wrote an article loudly proclaiming my offer to hash Romney's transactions "without fees", then had an article written about it in Forbes, and gleefully confirmed it to the reporter, encouraging him to attribute the offer to me.
Sorry, what was your point again? I seem to have forgotten.
Yeah, US has nice "laws" these days...
The US constitution does have its flaws
but it is quite a bit better than the system we live under today
I'm with Bitinstant on this one.
That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
We can be disruptive without breaking any laws in the process.... That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
I'm not familiar with US laws regarding that, but how is it illegal ?
I understand that blackmail and ransoming is, but I don't think paying is. Neither is facilitating payment.
Anyway the decision is on the one paying the ransom, it's not like Erik said that Romney should pay.
If Romney becomes president he will have Obamas power to declare US citizens terrorists allowing him to kill people without any oversight.
Not sure id want to poke the bear lol
Yeah, US has nice "laws" these days...
I think BitInstant didn't do anything so terrible. Because everyone knows there never was a real extortion threat, BitInstant doesn't look bad for offering to help out in jest.
I'm with Bitinstant on this one.
That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
We can be disruptive without breaking any laws in the process.... That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
I'm not familiar with US laws regarding that, but how is it illegal ?
I understand that blackmail and ransoming is, but I don't think paying is. Neither is facilitating payment.
Anyway the decision is on the one paying the ransom, it's not like Erik said that Romney should pay.
If Romney becomes president he will have Obamas power to declare US citizens terrorists allowing him to kill people without any oversight.
Not sure id want to poke the bear lol
I'm with Bitinstant on this one.
That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
We can be disruptive without breaking any laws in the process.... That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
I'm not familiar with US laws regarding that, but how is it illegal ?
I understand that blackmail and ransoming is, but I don't think paying is. Neither is facilitating payment.
Anyway the decision is on the one paying the ransom, it's not like Erik said that Romney should pay.
Paying ransom is a sensitive issue. The British insurers involved in paying Somali Pirate ransoms have been quite concerned they could face trouble if media made a big stink out of it, so far they've dodged that bullet. I'm not a believer in the any publicity is good publicity doctrine and on a personal basis this is negative mark for Bitinstant.
I largely agree, but I will point out two big differences. First, the Somali Pirates are violent and threaten to kidnap and kill people. That's in a different league from mere extortion. Second, the insurers are actually paying the ransom and not just helping others pay it. So what the insurers do is a lot worse, and they still do it. (But they don't brag about it.)
Paying ransom is a sensitive issue. The British insurers involved in paying Somali Pirate ransoms have been quite concerned they could face trouble if media made a big stink out of it, so far they've dodged that bullet. Partly by not making public statements. I'm not a believer in the any publicity is good publicity doctrine and on a personal basis this is negative mark for Bitinstant.
I'm with Bitinstant on this one.
That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
We can be disruptive without breaking any laws in the process.... That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
Bitinstant didn't break the law.
We will write the laws too
ITT: We rage about being jealous of Erik for not taking advantage of this opportunity before him. 
Some people don't understand that you can't build the system which will challenge the status quo and ask status quo's permission to do that at the same time
I'm with Bitinstant on this one.
That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
We can be disruptive without breaking any laws in the process.... That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
Bitinstant didn't break the law.
We will write the laws too
I'm with Bitinstant on this one.
That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
We can be disruptive without breaking any laws in the process.... That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
I'm with Bitinstant on this one.
That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
That's the spirit of Bitcoin - we are building a disruptive technology which will take over the world.
We aim at no less, so why be so shy about it?
Winners will write the history.
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