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Bitcoin Improves Internet Security

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Cyberattackers Demand $11M in Bitcoin From Japanese Gaming Giant Capcom – For starters, it has to be noted: time & time again hackers demand their payment in Bitcoin. Bitcoin is more liquid, scarce, tangible, fungible – list goes on really. If Ethereum was more valuable, why didn’t they demand it instead? Just food for thought. Personally I think these ransomware attacks are a blessing in disguise. Allow me to explain my reasoning.

Although it’s not legal or ethical, these ransomware attacks have probably already saved a few companies. Paying a ransomware attacker could be considered cheap, if the security flaw was discovered by someone much more malicious. Poor security could potentially destroy a company’s reputation, it’s clients, relationships, employees – sending it bankrupt. In a way you could argue, these ‘ransomware attacks’ are like a forced bug bounty. The hackers are exposing massive security bugs and getting paid for their time. Add in the permission-less nature of Bitcoin and these kind of transactions are made much more possible. Also the victim/client has to buy Bitcoin to pay the attacker/bug fixer. Maybe they did’t realize the value of Bitcoin before-hand, now they do – value upon value.

Bitcoin is completely neutral; it doesn’t care what anyone says or does, people tend to believe everything that comes out of the media; I say, do you own research with everything. A lot of the Bitcoin/crypto media is so far from the truth, hence why I’m trying to do my part. Bitcoin is preferred by hackers because of it’s positive economic benefits & the fact it’s outside of the system – all positive reasons. In this article they also imply Bitcoin is increasing theft in the form of extortion; anything of value can be at risk of extortion. The best security practice is not telling anyone you own something valuable.

Bitcoin has taught me the importance & value of stronger security. If you start to reference your security to Bitcoin’s, you always see further improvements to be made. Bitcoin has already had a positive effect on a lot of individuals, companies, industries. Soon governments & central banks will see it’s value too. They will realize they’re on the wrong side of the fence. Bitcoin is completely reshaping the internet & humanity. To the majority of people, it still looks like a magic internet money; however it is much much more. In time they will see.

In this day & age, keeping yourself protected online through improved security & privacy should be one your main priorities. Continuing to be complacent & care-free online may one day spell massive negative consequences for you/your loved ones. I wrote an earlier article about privacy here; this is also a great guide to begin your journey (if you haven’t already).

 

 

 

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