reddit nixes new subreddit advertising high-end counterfeit US dollars

$225 in bitcoins buys you $500 in rare supernotes made by one "Willy.clock."

Read the whole story

 

[The User]

Wow, you mean I can go through the effort of spending counterfeit money while I risk being caught and sentenced to up to 15 years in prison? For only $225? Where do I sign up?

/sarcasm

 

[The User]

flunk[/url]":18udoo72]

Smeghead[/url]":18udoo72]

A 2010 paper authored by two economists at the Federal Reserve Bank of Chicago said that counterfeiting is extremely rare. “In particular, we find that an upper bound on the stock of counterfeit currency in circulation, as a share of genuine, would still be less than 3 in 10,000,” the authors wrote.

Compare that with the mess the pound coin finds itself in back home. When discussing the new version to be introduced in a few years' time, the BBC quoted the Chancellor in stating that over 3% of all such coins in circulation are forgeries:

http://www.bbc.co.uk/news/uk-politics-26632863

I'm amazed anyone would bother counterfeiting a 1 pound coin, I would have thought the cost of the molds and the work necessary to get the scult right combined with the (fairly) expensive materials would put people off that.

http://www.telegraph.co.uk/finance/curr ... de-of.html

Not only does one have to get blanks that are produced using an alloy with the proper electrical properties, one would also have to counterfeit a die and strike the coins. This is a process that has taken years to refine and perfect, so I cannot see how one could actually profit much by counterfeiting. That is unless a state actor or well organized criminal network with industrial scale resources is behind the counterfeits. Perhaps North Korea sharing the love with our friends across the ocean?

 

[The User]

According to Krebs, the mouse is for real: http://krebsonsecurity.com/2014/08/coun ... me-forums/. Apparently he's targeting the old 1996 series, which I think was one of the first designed to combat state level actors. Doesn't exactly sound like super note quality, but well beyond your typical clerk pay grade. Of course, by going on reddit he's called out the secret service, so he better hope he's in a country that won't extradite. And he'd better not travel anywhere that will extradite.

 

[The User]

cream wobbly[/url]":305gzvwb]

Hinton[/url]":305gzvwb]

fic[/url]":305gzvwb]I thought North Korea was the number one producer of super notes. And, pretty much their only export.

They export drugs, nuclear power, rockets, repairing Soviet Union tech, you get the picture.

I got the joke, but because some people might take you seriously, North Korea's exports are helpfully illustrated here: https://en.wikipedia.org/wiki/File:Nort ... reemap.jpg

I wonder if Steve Ballmer was responsible for buying the chairs that made up 0.33% of exports?

Seriously though I have to wonder what the MTBF is for all of their industrial goods?