Okay… So the bitcoin price is hovering at around $241, and it hasn’t really changed much since yesterday.  This is probably good news.

Over the past few days, I have been rather critical of bitcoin and what I feel is lagging security.  The number of attacks that have occurred has brought my spirits down somewhat, and I’m willing to bet money that several people out there are feeling as downtrodden as I am.  The fact is that it has just been too many times, and now what’s probably even worse, is that bitcoin crimes are taking on new life.  They are becoming more physical… More “B” level… More violent, like what you’d see amongst mob enforcers or gang members.

Recently, a New York City firefighter was stabbed and left bleeding in the streets by thieves who were set on stealing his bitcoin stash.  A one-man  bitcoin exchange in New York was also held up at gunpoint and forced to transfer bitcoin into the hands of his thief, and a Connecticut family was delivered death threats on account of their bitcoin savings.  I ask now, “What is going on here?”

Why is bitcoin crime becoming so outrageous?  Well, I think I know the answer… Because bitcoin has value… Thieves and criminals recognize that it has value, and whether or not bitcoin is recognized as official currency by politicians or lawmakers doesn’t really matter anymore.  Several people are using it and treating it as currency, so in the eyes of a thief, since people are relying on it and using it in place of fiat currency, there is a reward to be had through stealing it.  Many of the crimes we’re seeing with bitcoin were crimes we at one point only saw with regular bills, so the fact that these crimes are now occurring in the bitcoin world suggests that bitcoin is being seen on the same plane as cash.

This is good news in a way, that bitcoin is being seeing at the same level as fiat currency, but it also means that we should be taking stronger steps to protect it.  Higher security, password protection, etc.  If theft is now becoming a regular problem, it’s time we look for a regular solution.

Tags: , , , , , ,

Leave a Reply

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.