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Flat out lies about Bitcoin in New York Times editorial

“Bitcoin also can be seized or stolen. During World War II, the German government relied on a code called Enigma that its mathematicians insisted was impossible to break. The British famously broke it, basically by figuring out the password. That’s also how the federal government apparently recovered part of a Bitcoin ransom payment worth several million dollars from hackers who took down the Colonial Pipeline and blackmailed its owners this year.”

Bitcoin can’t be seized if secured properly.

Another crappy New York times editorial spreading lies and FUD about Bitcoin. Fiat statist media seem to be increasing the tone of FUD about Bitcoin to promote their agenda.



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25 Comments

  1. It’s always the ones who know the least about shit and speak the loudest. Thank goodness it’s labeled as an “editorial” but god damn! Horrible lies. That hacker handed over the keys when shit got too hot. And what’s that bullshit about the enigma machine?

  2. The article he links to in order to back up the claim that “apparently” the FBI hacked into a wallet says this:

    > The F.B.I. did not appear to rely on any underlying vulnerability in blockchain technology, cryptocurrency experts said. The likelier culprit was good old-fashioned police work.

    Exactly the opposite of what he is asserting.

  3. >Bitcoin can’t be seized if secured properly.

    While it’s true that it generally can’t be unilaterally seized by a government, the practical reality is that most store their keys in their home somewhere…which can be raided without prior notice. Even if you hide the keys well, government’s are really good at coercion and can incentivize folks to give up their stash.

    I guess my point is if a government really wants your stash they will get it, or they will simply take your freedom until you play ball. They have been doing this for years, as burying gold in the desert isn’t really a new concept, it’s just now a metal plate with keys on it….

    But to your point, the article definitely is misleading. This is why I personally take little stock in editorials.

  4. Been a lot of articles like this lately – on Youtube The Gravel Institute did one where they claimed almost all Bitcoin comes from Russia and China along with a ton of other false claims. Not to mention all the articles mocking El Salvador because Bitcoin went down in value on launch day (and completely ignoring the “drop” just returned it to where it had been 7 days beforehand – nope, just ignore that part completely and instead leave the impression everybody is losing money all over the place).

  5. I’m so tired of people thinking legacy institutions are going to give bitcoin fair treatment. It’s almost funny but it’s not. These people are your enemies and they will try to use every bit of their power to discredit the emerging tools that could lead to their downfall.

  6. This is dishonest, misleading, granted the journalist could be plain stupid but to frame it this way is like me saying ‘Nuclear codes can be stolen, leaked or cracked. In the past some encryption methods failed and people do get robbed’.

    ​

    I would say it’s a surprise but journalists have been shit all around for a while now. The very few doing real investigative work being scarce.

  7. Every cryptographer worth his shit will say: “yes, absolutely, bitcoin wallets can be brute forced to obtain the keys/funds. The energy required to do this, with modern computer technology, would however require more energy than the sun can produce in several life times.”

  8. NY Times posting garbage? GASP! I am completely and utterly surprised by this piece of information and would have never expected this…

    NY Times have been posting garbage for years at this point.

  9. This is the same newspaper that did stories ‘confirming’ the ‘psychic powers’ of Uri Geller.

    Later, they lied us into the Iraq war.

    No self respecting fish would be wrapped in the New York Times.

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