Re:Bitcoin falls under $16,000
by candiddevmike on Wednesday November 09, 2022 @07:03PM
(#33540112)
I bet a tyrannical government can easily confiscate your BTC with enough "enhanced interrogation".
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Rubber-hose cryptography: https://en.m.wikipedia.org/wiki/Rubber-hose_cryptanalysis
Re:Bitcoin falls under $16,000
by three_seagrass on Wednesday November 09, 2022 @07:32PM
(#33540456)
Doesn't even need to be governments. A man was tortured in his home with a drill in front of his 4 year old while being robbed of his bitcoin:
https://www.ccn.com/dutch-bitcoin-trader-suffers-brutal-tort...
It's true. It would be a lot more difficult with something like a privacy coin. Someone could write down a 12/13 word phrase as a hot wallet and have a cold wallet with a memorized phrase. No one knows how much are in either wallet or that the two are even linked.
Re:Bitcoin falls under $16,000
by UncleEntity on Wednesday November 09, 2022 @09:05PM
(#33541248)
Pretty sure after they break out the blowtorches you’ll be volunteering this information…
Torture works a lot better if you know what you're looking for. With BTC you know exactly what it is you're looking for and how much. If all you know is they paid with a privacy coin then you have no idea how many wallets they have or how much money, there's no more advantage to giving up 2 wallets than 1 as there's no reason for an attacker to not think there's a 3rd you're holding out on if they didn't believe you the first time -- the options would be give up everything and get blow torched or give up only some and get blow torched
Crypto bros thrive in an extremely abnormal environment where violence is controlled and outsourced to a powerful central authority. Good thread on this: