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Agathos | 4 years ago

Not that "easily." Moving that much cash around requires a lot of manual effort and some skill at money laundering.

By removing that need, cryptocurrency makes ransomware scalable. And as Paul Graham and other Silicon Valley types have said a thousand times, scalability is the difference between a modest mom-and-pop operation and a rapidly growing enterprise.

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d4mi3n|4 years ago

You are correct in that handling that volume of physical cash is likely more difficult than I implied, though I don't think removal of cryptocurrency from the equation removes the ability to scale.

In my mind, the catalyzing effect of a cryptocurrency in this context is from:

1. The ability to move something of value digitally

2. The thing of value being resistant to governmental control--crypto can't be easily seized, but a US bank account can.

There may be other properties of crytocurrency that make it useful for ransomware, but I doubt there aren't other vehicles that could be used--though alternatives are likely less lucrative due to the overhead in laundering your ransomeware payment into hard currency.