The story of a hacker who was able to get into iCloud and steal photos of naked celebrity females who have more beauty than good sense is all over the Web.
Another guy faked photos, and then sold them for Bitcoins. People with more Bitcoins than good sense or ethics bought them.
The crime really is a crime: the theft of other people’s property. I think most people understand this.
I make this a rule. I do not buy stolen goods. I think people with ethics adhere to this rule. But, as George C. Scott said as Mordecai Jones in The Flim-Flam Man a generation ago, “you can sell people anything if they think it is stolen.”
Why Bitcoins? Because of this. Bitcoins are useful mainly for buying things that are digital.
The suggestion that Bitcoins can become an alternative to the conventional banking system is an updated version of Mordecai Jones’s sales pitch. To buy non-digital goods, you must convert your Bitcoins into real money: bank-created money. You can buy no non-digital goods with “100% out of the banking system” Bitcoins, because to replace sold inventories, sellers of non-digital goods have to sell their Bitcoins for real money. This pulls them back into the economy of central banking.
So, the only things that you can buy with Bitcoins that are worth anything outside of the banking system are digital services and digital goods. You can buy computer programming. You can buy digital information: “special reports.” And you can buy photos of naked people — stolen photos, if they are good-looking people. As the rule goes, “If you see a photo of a really good-looking naked woman online, you can be sure it’s copyrighted.”
So, when you hand over your Bitcoins for what you know is stolen material, you are probably dealing with someone in Mordecai Jones’s line of work. Don’t be surprised when the digital goods are faked.
Bitcoins are the playthings mostly of people without much net worth. So were the people who got sucked in by Moredecai Jones.