05/15/2017: Why pay a ransom in bitcoin?Here's the thing about WannaCry, the ransomware attack much of the planet was dealing with today: it's been remarkably unprofitable for the perpetrators.Hackers asked for as much as $300 worth of bitcoin per infected user, and they've only netted about $55,000 for their efforts.Why use bitcoin as ransom payments?We'll talk about it.Then: 2017 is gonna be written about in the history books for a whole lotta reasons, one of which might be as a tipping point in the global economy.Following China's big infrastructure summit we'll sort through the state of negotiations around the world.Plus: why it's a good time to be a restaurant worker in Nashville.Listen to the episodeHulton Archive/Getty ImagesChris Hondros/Getty ImagesDANIEL LEAL-OLIVAS/AFP/Getty ImagesEmily Siner / WPLNFather Sister BerzerkerListen and Buy NowOutroListen and Buy NowStay TunedListen and Buy NowCissy StrutListen and Buy NowFlorida, Money Laundering and Virtual Currencies – Clarifying the Muddy Waters Florida legislature passes bill to add virtual currencies to money laundering statute in response to last year’s court ruling that bitcoin can’t be the basis for money laundering charges Last year, a Miami judge dismissed criminal charges against a Florida-based bitcoin seller who had been caught in a sting in which undercover law enforcement officers engaged him to convert cash into bitcoin.

They told him they intended to use the bitcoin to buy stolen credit card numbers.The man helped the officers convert the cash into bitcoin, and he was arrested and indicted on illegal money transmission and money laundering charges.Prior to trial, the man challenged the charges, arguing that bitcoin doesn’t constitute a form of money under Florida criminal law.ethereum coin worthThe judge sided with the defense and dismissed the charges.bitcoin miner hardware amazonIn doing so, she stated that the “court is unwilling to punish a man for selling his property to another when his actions fall under a statute so vaguely written that even legal professionals have difficulty finding a singular meaning.” She further noted that, although bitcoin has some of the same attributes as what is commonly considered money, it “has a long way to go before it is the equivalent of money.” The judge invited the Florida legislature to address the issue.bitcoin bet script

Late last week, the Florida legislature did just that.It passed a bill adding “virtual currency” to the definition of “monetary instruments” in Florida’s Money Laundering Act.If the bill is signed into law by Florida Governor Rick Scott, people who transmit money into bitcoin (or other virtual currencies) knowing that they are laundering dirty money or fostering future criminal activity can be charged criminally just as if they had used bank deposits or wire transfers.bitcoin et pokerIf you’d like to read about last year’s court ruling, you can find it here.bitcoin rapping like a black dudeYou can find a discussion of Florida’s new bill here.bitcoin metatrader 5By Nicholas P. Mooney Jr.reddit bitcoin hong kong

Share this:Like this: ← Governor Justice Signs Bill Amending West Virginia’s Consumer Credit and Protection Act Sex, Drugs, Rock N’ Roll . . . and Blockchain →An entrepreneur says hackers stole $1million of the virtual currency bitcoin from his website.The Australian man, who refused to be identified citing fears for his safety, said thieves compromised his site and took a haul of virtual currency.litecoin price euroBitcoin is a digital-only currency traded from computer to computer and is usually used to pay for goods online.win bitcoin diceTheft: $1million bitcoins were stolen from an Australian man's website The alleged theft is one of the largest since bitcoin was created four years ago.Bitcoin has no central authority and is not backed by governments or banks.A bitcoin user who calls himself TradeFortress told ABC more than 4,100 bitcoins worth about $1.1million (£585,000) were stolen from him.

He says he is not much older than 18 and he knows the chances of getting any of the digital currency back is unlikely because all bitcoin transactions cannot be reversed.As the transactions are all anonymous, speculation has arisen that this was an inside job and TradeFortress took the coins for himself.However, the young man strenously denied the allegations - but admitted he was unlikely to report the theft to police.Digital: Bitcoin is presented as a payment method at e-commerce companies on a website in Berlin 'The police don't have access to any more information than any user does when it comes to bitcoin.Some say it gives them control of their money,' he explained.The $1.1million bitcoins were owned by users of his website who had trusted him to look after their digital currency.A spokesman for the Australian Federal Police says to his knowledge, a theft of bitcoins has never been investigated but if it was reported to officers then police would investigate it like any other theft.

Experts say as the popularity of bitcoins increases, thieves will look to hack into the system and exploit the currency's anonymous nature.Stilgherrian, a technology commentator, said unlike stocks or bonds, bitcoins are very hard to trace.'Once you've got the bitcoin there's no way, well no easy way, of telling where you got that from,' he said.'Sofrom a money laundering point of view, it's very attractive.A customer uses the world's first ever permanent bitcoin ATM unveiled at a coffee shop in Vancouver, Canada 'We're talking about roughly a million dollars worth of bitcoin gone.That puts it up there with some of the biggest bank robberies in history.'Abitcoin is worth about $275 (£161).At the beginning of the year, they were worth about $30 (£17) each.Sthilgarian says the popularity of the digital currency is making stealing it more attractive to crooks.'People rob banks because that's where the money is, your bitcoin wallet which is really just a digital file sitting on your computer, can be just as vulnerable and just as attractive,' he said.'And