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Comment Wrong email addresses are more common (Score 1) 213 213

There is an artist in Vermont, a real estate person in Texas, and a guy in Britain who all routinely give my email address thinking it's their own.

It happens constantly. I've stopped being nice.

For the guy in Vermont, he signed up for voicemail. So I password-recovered his account, got his phone number, and gave him a call. Bastard got upset at me thinking it was a scam. Later... I got a request for a caricature for the police chief. So I drew one, MS paint style and sent a $300 invoice.

For the guy in Texas, I got some poor schmo's mortgage app sent to me from another real estate agent. I mean, full financial details. I replied letting them know they were probably breaking the law by sending it to me. I still get shit.

The guy in Britain has signed up for:
1. Online bill pay for his gas bill
2. Multiple online betting websites
3. A "find a naughty-housewife" website
I've password-recovered and closed all those accounts.

Comment Markup (Score 4, Insightful) 218 218

>> $580 million replacing stolen phones each year and $4.8 billion paying for handset insurance.

Whoa whoa whoa... If every person got insurance, that's over an 8x markup for insurance. Since many don't, it's even a higher markup.

Here's an easy way to save $4.3B - Stop buying the insurance.

Comment Re:No clawbacks (Score 1) 695 695

That is an interesting thought, but may be difficult in practice.

A theft occurs coins are transferred...
> Mt Gox -> Wallet X

Some time goes by and the coins are moved around

> Wallet X -> Wallet Y -> Wallet Z

Finally, the coin is moved to somewhere we can track, like a well regulated exchange.
Wallet Z -> A regulated exchange

FBI would have to backtrack from that point. There might be some significant cost for each step.

I also wonder how well coin mixing services work. For huge volumes like this, I can't imagine them being effective. But for smaller amounts, maybe over time, they may prevent that backtrace from being feasible.

Comment No clawbacks (Score 1) 695 695

One of the key "benefits" of bitcoin is one of the biggest problems with it in situations like this, the inability to reverse transactions.

If someone digitally steals a shit ton of cash for a regular bank, there's a good chance those transactions can be reversed and, at least some, or the money can be recovered.

Not so in bitcoin world where you would have to find the perpetrator and get his private key.

Real programs don't eat cache.

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