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(CNN)   U.S. seizes $30 million in stolen crypto from North Korean hackers. Will be worth about $27.23 in a day or two   (cnn.com) divider line
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    More: Interesting, Federal Bureau of Investigation, North Korean's nuclear weapons programs, North Korean hackers, Pyongyang, North Korea, Pyongyang's hackers, Korean language, South Korea  
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1040 clicks; posted to Main » on 08 Sep 2022 at 11:38 PM (27 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



24 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
BlazeTrailer
2022-09-08 11:48:52 PM  
So much for untraceable
 
replacementcool
2022-09-08 11:59:59 PM  

BlazeTrailer: So much for untraceable


who told you crypto was untraceable?
 
We Ate the Necco Wafers
2022-09-09 12:02:41 AM  
That's about 1% of their entire GDP.

Someone and his family is going to disappear for this mistake.
 
A_Flying_Toaster [OhFark]
2022-09-09 12:03:54 AM  
Who would do something like that, and why?

/Sorry, I had to link it
//Never fails to make me laugh
 
chitownmike
2022-09-09 12:04:28 AM  
Can you really seize something that doesn't exist?
 
replacementcool
2022-09-09 12:12:32 AM  

chitownmike: Can you really seize something that doesn't exist?


data can be and is seized all the time.
 
angryjd
2022-09-09 12:34:16 AM  
That is a great headline
 
HoratioGates
2022-09-09 12:34:44 AM  
"U.S. seizes $30 million in stolen crypto from North Korean hackers. Will be worth about $27.23 in a day or two"

Or pay off the national debt and fund the military for 30 years.
 
The Brains
2022-09-09 12:42:33 AM  
I thought that was the whole thing about Blockchain payments. It is forever coded who has that payment and for what reason. Thought it was supposed to usher in a whole new era of transparency and accountability.
 
jjorsett
2022-09-09 12:49:16 AM  
I notice that TFA doesn't say they're actually giving it back to the rightful owners.
 
GriffXX [OhFark]
2022-09-09 12:59:53 AM  

The Brains: I thought that was the whole thing about Blockchain payments. It is forever coded who has that payment and for what reason. Thought it was supposed to usher in a whole new era of transparency and accountability.


The article mentions 'mixers', which are like the money laundering services for crypto. It's why a ton of wallets are being frozen - because something went in or out of one of these mixers.
 
BlazeTrailer
2022-09-09 2:26:57 AM  

replacementcool: BlazeTrailer: So much for untraceable

who told you crypto was untraceable?


I learned it from watching YOU!
 
Shakin_Haitian
2022-09-09 2:50:49 AM  

jjorsett: I notice that TFA doesn't say they're actually giving it back to the rightful owners.


Code is law, my friend. The rightful owner is who possesses it.
 
doosh [TotalFark] [OhFark]
2022-09-09 3:54:29 AM  
I don't get all the hate on bitcoin and cryptocurrency in general. For most people their money already is digital. Only Luddites and crack dealers still walk around with wallets full of paper. The difference is that dollars, physical or otherwise, are guaranteed to lose value through inflation and dilution. On top of that we give banks a king's ransom in fees for moving and storing this depreciating asset.

Fark user imageView Full Size


Flaws and all crypto is an antidote to this problem. Other than gold (which isn't very practical) I can't think of a viable alternative.
 
Nintenfreak [TotalFark]
2022-09-09 4:08:32 AM  

HoratioGates: "U.S. seizes $30 million in stolen crypto from North Korean hackers. Will be worth about $27.23 in a day or two"

Or pay off the national debt and fund the military for 30 years.


with Crypto?  What are you an optimist?
 
Nintenfreak [TotalFark]
2022-09-09 4:09:31 AM  

doosh: I don't get all the hate on bitcoin and cryptocurrency in general. For most people their money already is digital. Only Luddites and crack dealers still walk around with wallets full of paper. The difference is that dollars, physical or otherwise, are guaranteed to lose value through inflation and dilution. On top of that we give banks a king's ransom in fees for moving and storing this depreciating asset.

[Fark user image 772x368]

Flaws and all crypto is an antidote to this problem. Other than gold (which isn't very practical) I can't think of a viable alternative.


Bitcoin isn't backed by fiat.  It's backed by magic and dipshiats online think that's superior for some reason.  It's not that the currency is digital, it's that its value is imaginary.
 
dryknife
2022-09-09 6:32:49 AM  
I'm visualizing cartoonish FBI avatars kicking some ninja-looking dudes' asses in a video game reality and grabbing their gold.
 
doosh [TotalFark] [OhFark]
2022-09-09 6:40:44 AM  
Nintenfreak:

Bitcoin isn't backed by fiat.  It's backed by magic and dipshiats online think that's superior for some reason.  It's not that the currency is digital, it's that its value is imaginary.

Man, and here I was allllmost bamboozled by these industry insiders and techies wasting literal trillions of dollars into some Ponzi scheme, lolz! I'm so lucky to learn from actual experts like you. Thank you Fark!
 
Virtue
2022-09-09 8:37:27 AM  

Nintenfreak: Bitcoin isn't backed by fiat.  It's backed by magic and dipshiats online think that's superior for some reason.  It's not that the currency is digital, it's that its value is imaginary.


So exactly the same as every other currency in existence.
 
ObscureNameHere
2022-09-09 11:23:37 AM  

Virtue: Nintenfreak: Bitcoin isn't backed by fiat.  It's backed by magic and dipshiats online think that's superior for some reason.  It's not that the currency is digital, it's that its value is imaginary.

So exactly the same as every other currency in existence.


No.

The USD-  while 'fiat'-- is backed by the notion that the US economy can produce wealth over time and will be here tommorow.   In effect, that the United States is a "going concern" in business speak.

Crypto is backed by a fervent belief by its holders that it should be worth something.
 
SaturnShadow
2022-09-09 11:26:31 AM  
Money is imaginary.
 
DaMannimal
2022-09-09 2:22:24 PM  
Productivity dropped in beginning of year at highest rate seen in 70 years.   This is due to lots of job switching, job leverage, and other inefficiencies.

If you think your corporate overlords are going to allow that to happen in America, you must be new here or brainwashed by the propaganda.
 
HoratioGates
2022-09-09 3:19:33 PM  

Nintenfreak: HoratioGates: "U.S. seizes $30 million in stolen crypto from North Korean hackers. Will be worth about $27.23 in a day or two"

Or pay off the national debt and fund the military for 30 years.

with Crypto?  What are you an optimist?


Just noting the inherent volatility in the market.  I know a guy who got into Bitcoin early, when you could still mine it yourself, who at one point had made enough to completely pay off his mortgage.

I don't think he did though, and his portfolio has shrunk considerably from the highs.  Like any form of gambling, if it didn't occasionally go up people would stop playing the game... but people don't tend to quit while they are ahead.
 
Nintenfreak [TotalFark]
2022-09-10 12:17:34 AM  

SaturnShadow: Money is imaginary.


yes money is imaginary, but it has value because of the institutions that back it up.
 
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