Blog Post #4

Bitcoin engineer and virtual currency holder Jameson Lopp says, “If you are rich and you own real estate, or stocks or a sports team, somebody can’t mug you and take your sports team away. Having liquid crypto assets makes you much more attractive for that type of criminal attack.” This comment is in reference to the recent explosion of virtual robberies centered on Bitcoin and other online currencies. The new robbery “trend”, so to speak, involves holding a wealthy person against his or her will until they make a very large, online, monetary transfer. This is a growing issue, as Bitcoin has been on the upswing and gaining value for a while now.

This is a very interesting kind of paradox; people are committing physical crimes for virtual rewards. I think that the implications of this are terrifying–the virtual world is causing real world, negative consequences. Isn’t technology supposed to enhance our society? Although this specific strain of crime does have material monetary implications, it could just be the beginning of this idea. Depending on how technology continues to evolve, these kinds of crimes could continue and intensify. Although these thieves have come from all over the world, it especially concerns me in America. With so much controversy over gun laws, and seemingly no progress on reforming them, it is very likely that these types of crimes will become more and more “normal” in our society.