Been feeling like it’s the beginning of the end for a while now… I have good security hygiene, but I am sure enough of my sensitive info has been leaked by various “trusted authorities” (I mean, fucking Equifax) that someone could ruin my life if they wanted to. You just stay vigilant and hope that doesn’t happen I guess.
Just a roll of the dice at this point. The USG has basically mandated that all of your most private identity information be turned over to global bad actors via their AML/KYC regime.
I hear about lives being ruined or even just "identity theft" happening less often than it seemed to, but perhaps it's just my filtering is better. Still, given that to a first approximation the full details necessary for a fraudulent line of credit to be opened in the name of every US adult have been out there multiple times for years, and yet this hasn't happened to everyone, indicates something in the system works against it. Maybe something as simple as physical mail delivery/verification cuts down a lot of avenues of abuse for the average person.
My speculation on this is that China/Russia/whoever targets ISP's in order to identify people by IP that have come to their attention somehow.
Your credentials aren't the only point of interest, your credentials gives up subscriber information name/email/address/etc. That's pretty valuable from an intelligence standpoint.
Not until post-scarcity (if it's even achievable).
Until then, Gresham's Law is at work, and cheaper products and services that are of barely acceptable quality along their happy paths are going to dominate markets.
Readit News
They're fine with that price.
KYC is a joke when everybody’s ID can be used to make a valid account and receive payments
reminds me of this bank heist skit, where they just get employed at a bank for 30 years
https://youtu.be/jgYYOUC10aM?si=RqdLuyuNOn3bEhfF
More discussion: https://news.ycombinator.com/item?id=41367964
The largest assets are not liquid, and laundering requires an even larger sum of loosely monitored funds to mix with.
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Until then, Gresham's Law is at work, and cheaper products and services that are of barely acceptable quality along their happy paths are going to dominate markets.