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It's a lot easier now, but all the major exchanges require you to identify yourself for tax purposes.



That's not quite how it works. The idea is that instead of a bank having a book with some numbers in it saying you have a thousand bucks, there's a bunch of strangers all have copies of the book. So you never actually hold the crypto, not even in a wallet, you just hold a password allowing you to transfer numbers to someone else in the book.

Which honestly isn't too different to how banking works nowadays. Most people don't ever touch even a percent of their earnings as physical cash anymore.


Do you mean if someone steals your private keys? Those are fairly easy to secure. Easiest way to do it is to get a letter punch set and punch them out on an A8 sheet of aluminium (credit card sized). That's very easy to hide and retrieve.

If you mean online? If you transfer your crypto it's gone. It's like giving cash to a stranger. You have zero way to retrieve it, which is both a weakness and a strength.


Not sure, but I'm going to guess they had some other leads and found the guys, then made them give it back. I doubt they breached the encryption itself: Cryptocurrencies use the same encryption systems banks and militaries do. If they were broken everyone would know and everything would fall apart fast.


It's hard to transfer gold or silver across continents safely and reliably. I think (hope) precious metals will start to gain a comeback in local economies though. I can see both coexisting nicely.

don't tempt me frodo

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