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J
Pub Member / Supporter Lifetime Supporter
Last reply · posted in DISH Network Support Forum
Layer 3 is offers a no obligation 21 day free trial of their streaming internet-connected DVR. They offer over 250 HD only channels, a full time 4K channel (NASA TV), and promise to deliver "white glove customer service". I took them up on their offer. I ran their DVR in parallel with my Hopper 3. This is what I learned.

Layer 3's new subscriber incentive pricing would result in a savings of about $450 during the first year of service compared with my current Dish subscription. Service for year 2 and beyond, assuming neither Dish nor Layer 3 change their advertised price schedule, Layer 3 would be a few dollars a month cheaper than Dish. The Layer 3 service contract does not require a long term commitment. The user can terminate service at any time.

At my normal viewing position of 12 feet from a 65 inch LG OLED TV, I can not see any difference in 1080p picture quality between the Layer 3 DVR and the Hopper 3. Layer 3's 4K picture quality is exceptional.

I do not know what minimum bandwidth Layer 3 requires for HD and UHD streaming support. I have a 25 Mbps internet line which provided uninterrupted, high quality streaming.

After two weeks using the Layer 3 DVR, both my wife and I agree that the current Layer 3 software is too feature poor and buggy to be acceptable. Regardless of the savings it offers, the Layer 3 DVR cannot compete with the Dish Hopper 3's functionality and reliability.

What follows are some of the issues I found that need to be addressed before I would consider the Layer 3 DVR as a possible replacement for the Dish Hopper 3.

There is neither a user manual in print nor on line. There is no on-screen help. No channel is dedicated to showing Layer 3 DVR tutorials or user tips. Some people may enjoy the challenge of working out the system's operation through trial and error, but I am an not one of them.

My main interest in looking at Layer 3 was support for 4K streaming. Layer 3 has a full time 4K channel. It seemed a good bet that Layer 3 will be in the forefront of satellite and cable providers when they start adding 4K content to their programming. I was very disappointed when NBC's recent 4K coverage of the English Premier League was not available on Layer 3. I was told that Layer 3 has not yet worked out all the details with providers to enable 4K streaming. I was asked to be patient - - - 4K is coming, but they did not give me a definitive delivery date.

During the first week of use I found a serious bug that locked the system up and also corrupted several recorded programs. Layer 3 customer service told me that their tech reps were booked for that day but a tech rep could be at my home first thing the next day. The tech rep arrived on time at 8:30 am. He replaced the faulty DVR with a new unit. In doing so, he found an intermittent fault in my router and guided me through a red button (not a simple power off/on cycle) router reset. This was an impressive demonstration of high quality customer service. A week later the new DVR locked up when I was fast forwarding a recorded program. The recording was corrupted and unwatchable.

I am convinced that the Layer 3 user interface was designed for channel surfers who mostly watch live TV. There is no evidence that much consideration was given to users who are not interested in watching live TV and only watch recorded programs. This shows in Layer 3's clumsy implementation of its program search and record procedures and lack of external hard drive support.

There are two ways to find a future program to record --- use either the Program Guide or the Search function. Both methods are frustratingly tedious. The Program Guide is a window showing a 1 and a half hour time span and is sized to show 10 entries. There is no forward or backward skip by a day. Even though the Layer 3 DVR provides 6 program categories named ALL, FOR ME, NEWS, SPORTS, KIDS, MOVIES, and LIFESTYLE to limit the number of channels displayed in the Program Guide window, the channel you want is not easy to find when it is hidden among the dozens of other channels that happen to fall into the same category. If the Layer 3 developers had looked at the Dish Hopper 3 they would have realized how powerful and necessary the Hopper 3's Favorite Channels feature is to allow users to quickly search the channels they are interested in.

Using the Search method with its tiny alpha/numeric key pad is equally frustrating. Keying in search text is hampered by slow response from the time of the click to when the character appears in the search text string. Moving the cursor around in the key pad is not very responsive. There are occasional long pauses when the system appears to go to sleep, but eventually wakes up. The system can sometimes lock up when the key pad is clicked too quickly. The lock up is cleared by pressing the remote's Home key. The user can then reenter the Schedule mode. Mercifully, the previously keyed in text is retained during this soft reset.

When the Layer 3 DVR deletes a recording, it is gone forever. There is no Trash from which you can retrieve a program that was deleted by accident.

There are no skip forward/backward buttons on the (non-illuminated) remote. Fast Forward and Rewind must be used to move through a recording. I always over- or under-shoot while skipping a commercial and then have to go through several iterations of FF and REW nudges to continue watching beyond the commercial. This is maddening when one is used to the Dish Hopper 3's 10 second back and 30 second forward remote buttons.

The Layer 3 DVR does not provide a start early time for a program recording. A recording's end time can be extended for a maximum of 10 minutes. The Layer 3 DVR's method for determining a program's end time contains a fatal error. Insufficient time was scheduled to accommodate possible overtime for the recently aired Community Shield Cup soccer match. The recording ended before the winner was determined. Fortunately, I also recorded this match on the Dish Hopper 3. The Hopper 3 got it right and the entire game including its overtime was recorded.

Layer 3 does not offer the BeIn sports channel. As a fan of European football I find this unacceptable. The Smithsonian channel is also missing.

There is a curious thing about the Layer 3's 4K NASA channel. The material displayed on screen is not what the Program Guide describes. The programming material appears to be on a loop that repeats itself every few hours. I suspect that the NASA TV programming is not being streamed from NASA TV's normal feed but from a 4K blue ray disk supplied by NASA. This may explain why Layer 3's 4K picture quality is exceptional.

I discussed all of the above issues at length with several Layer 3 tech support people. They all agreed that my points were valid and they would inform the developers to make fixes or add functions. I was told that a new system update was coming soon that would address some of these issues. They could not tell me what issues were being addressed nor when the update will be released.
26 Replies · 3605 views
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littlecloud319
I only have 3/1 but if I was in town I would get at least 30 down
JDGJr
Thanks for this analysis of Layer3. A friend has it in DC and likes it, but they were never Dish customers, so your direct comparison is much more useful to me.

I thought Layer3 would be a good match with my Gigabit fiber internet, but not if their DVR is that much worse.
J
Layer 3 DVRs are reported to be using the new h.265 compression algorithm that outperforms Dish's h.264 algorithm by a factor of 2 to 1 (See Wikipedia description of h.265). If this is true, then some number of subscribers with limited bandwidth internet connections who currently cannot get an acceptable 1080p stream may be able to do so with Layer 3.

I expect Dish engineers are looking into using h.265 as a possible solution to the satellite bandwidth constraints they say are preventing Dish from becoming a full HD provider. Unless a software update (unlikely) can upgrade existing receivers to h.265, then a new receiver using h.265 needs to be designed and built. This probably will not happen unless Layer 3 and others like them who use h.265 start attracting significant numbers of low internet bandwidth customers with the lure of 250 plus HD channels, then Dish may be forced to upgrade.
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comfortably_numb
I expect Dish engineers are looking into using h.265 as a possible solution to the satellite bandwidth constraints they say are preventing Dish from becoming a full HD provider. Unless a software update (unlikely) can upgrade existing receivers to h.265, then a new receiver using h.265 needs to be designed and built. This probably will not happen unless Layer 3 and others like them who use h.265 start attracting significant numbers of low internet bandwidth customers with the lure of 250 plus HD channels, then Dish may be forced to upgrade.

How much longer do we think Dish will continue to churn out new receivers? I mean, I want satellite TV to last far into the future just as much as everybody else here, but eventually the main market for Dish will be mostly rural as IP streamers compete and take hold in the cities. I think it's inevitable.
navychop
Actually, since streaming usually means forced to watch commercials, I suspect there's some life left in the old girl yet.
osu1991
Pub Member / Supporter
Last reply · posted in The Chit Chat Club
:mad::mad::mad::mad:

Pissed off at the crappy healthcare costs

My health Insurance renewal for 2027 just came in. Going from $827 a month to $1,187 a month. Deductible going up a $1k to $9,350. Max out of pocket also going up $1k to $11,000. Doctor co-pay of $40. Urgent Care co-pay $50. ER 50% coinsurance after deductible. That's all in network. Out of network is double, should it be needed.

Have to think about this. I'm really tempted to just go without now. I only go to the doctor once or twice a year. I pay out of pocket for Tirzepitide and can do without the Rosuvastatin (crestor) now. Really tired of spending over $10k a year and getting nothing out of it.

After years with Blue Cross I switched last year to Ambetter as my Blue Cross premium was going from $1200 to $1800 for a Silver plan and the Bronze plan was still going to be $1300 at BCBS. Ambetter was $827 for the same coverage with a Bronze plan. Didn't think it would jump this much so soon.

I'm guessing a Silver plan is probably over $2,000 a month for 2027.
31 Replies · 432 views
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Foxbat
Why isn't this Political thread over in the Pit? This is why there is a Pit, and why I rarely use the Chit Chat Club. But someone said, "The Pub is Elitist since you have to pay dues to enter, so please post in the Chit Chat forum so more guests can read and participate."
harshness
Why isn't this Political thread over in the Pit?
Because health care shouldn't be a political issue?
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osu1991
Such a scam. Healthcare.gov shows me cheaper individual plans available for 2027 from ambetter that ambetter doesn't show on their website. Looked it up. I've spent $68,000 in premiums the last 5 years and got nothing out of it except a few doctors visits and labs. 😡
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dishstaller
I've spent $68,000 in premiums the last 5 years
That's why I cancelled ours and just started saving the money. We're about to do the same thing with our home insurance.....not cancel it outright but do away with the portion which covers wind damage. We're paying over $5k right now and that is AFTER I dumbed things down...and it keeps going up. Got a couple trees I want to have taken down first before I do that however. After we do that, it will knock about $3k off our annual premium.
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WhiteBeard
:mad::mad::mad::mad:

Pissed off at the crappy healthcare costs

My health Insurance renewal for 2027 just came in. Going from $827 a month to $1,187 a month. Deductible going up a $1k to $9,350. Max out of pocket also going up $1k to $11,000. Doctor co-pay of $40. Urgent Care co-pay $50. ER 50% coinsurance after deductible. That's all in network. Out of network is double, should it be needed.

Have to think about this. I'm really tempted to just go without now. I only go to the doctor once or twice a year. I pay out of pocket for Tirzepitide and can do without the Rosuvastatin (crestor) now. Really tired of spending over $10k a year and getting nothing out of it.

After years with Blue Cross I switched last year to Ambetter as my Blue Cross premium was going from $1200 to $1800 for a Silver plan and the Bronze plan was still going to be $1300 at BCBS. Ambetter was $827 for the same coverage with a Bronze plan. Didn't think it would jump this much so soon.

I'm guessing a Silver plan is probably over $2,000 a month for 2027.
I'm on Medicare but the rest of the family is on ACA. ACA is ridiculus. The ACA premium has been about about $1900/month with a $9K deductible for the past 10 years - no eye or dental. A lot of money and yet we get so little in return. I haven't signed up for 2027 yet but I expect the cost to be higher.
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WhiteBeard
Because health care shouldn't be a political issue?
It's political because government has inserted itself into the loop.
WhiteBeard
That's why I cancelled ours and just started saving the money. We're about to do the same thing with our home insurance.....not cancel it outright but do away with the portion which covers wind damage. We're paying over $5k right now and that is AFTER I dumbed things down...and it keeps going up. Got a couple trees I want to have taken down first before I do that however. After we do that, it will knock about $3k off our annual premium.
Our home and auto insurance has been stable so I'll continue with it but I'm going to have see what I can do about medical insurance. The biggest impact would be an ER visit.
b4pjoe
My wife and I use the same Medicare Advantage plan from United Healthcare. (Yes I have heard the horror stories about Medicare Advantage plans but we have used it for the last 5 years). We are both pretty healthy so it works for us. It costs $0.00 per month for both of us and it pays part of our Medicare part B premium. Next year it will be paying $170 per month of the $220 monthly part B premium for both of us. We also each get $90 per quarter to use on OTC products. $0.00 copay for Dr. visits and $55 copay for specialists. Includes dental and hearing coverage. Never have had an issue with it although I don't really use mine other than for the dental, Part B payments and the OTC benefit as I am a veteran and use the VA for all of my medical needs. I just had a kidney that had a cancer mass removed last month and they allowed me to use a non VA surgeon at a non VA hospital through the VA Community Care program. For all of the doctors visits, exams, tests, surgery, hospital stay, meds etc…was around $60,000 and the the VA paid for it entirely. I did have to pay $16 for the Oxycodone pain pills when I left the hospital that I got from my local CVS instead of waiting for a week for the VA to ship them to me from the VA pharmacy.
meStevo
They're pushing our high deductible plan pretty hard at work, including a couple thousand to seed a HSA. Covering my wife and 4 kids though that feels like a mistake and I'd rather the peace of mind and the potential higher cost via the PPO plan payroll deductions.
Scott Greczkowski
Staff member HERE TO HELP YOU! Cutting Edge
Last reply · posted in The Chit Chat Club
Sometimes a thread gets so many posts in it that is can cause issues for the server so that why today we introduce The Song Name Game Part 3!

So let the game continue!

The last song was added by Bobby who posted...

One Meat Ball - Andrews Sisters

CONTINUE ON AND HAVE FUN! WELCOME HOME TO SATELLITEGUYS.US!

Here are the original rules for the game as posted by WebbyDude back in 2006. http://www.satelliteguys.us/threads/68645-Song-Name-Game

Just name a song title and the band who performed it. The next person does the same thing, but needs to list a song title or band name which includes a word from the previous entry. Pick songs from any genre.

Example:

Long Live Rock and Roll -- Rainbow

Rainbow in the Dark -- Dio

Another example:

Ride the Lightning -- Metallica

Lightning Strikes -- Ozzy Osbourne


Get it?


An additional note: we all know that song titles, sometimes, use profane words. Because this is a family friendly website it is advised that you clean up that title up a bit. This is accomplished by using something like sh!t instead of the real word. Thanks....
68698 Replies · 2682316 views
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long_time_Dish
Turn That Heartbeat Over Again - Steely Dan
freddylq
Heartbeat City - The Cars
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long_time_Dish
You Belong To The City - Glenn Frey
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J
You Belong To The City - Glenn Frey
Fool for The City - Foghat
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long_time_Dish
Hot Child In The City - Nick Gilder
M
Last reply · posted in DISH Network Support Forum
I have Dish with Hopper3. I choose to get local channels OTA and had a "guide list" established at my previous home. Having moved a few miles away, I wanted to update the list by appending a couple new stations via a rescan. As many would know, some stations come in with the UHF/VHF antenna aimed in one direction, while others come in better with a different direction.

Unfortunately, when a scan is done (bringing in 25-30 stations for that particular antenna aim), the dialog screen does not present the established guide list; it presents an empty field to the right that the scanned stations may be selected one by one and added to the empty guide. But because of antenna aim, some stations originally saved are missing, and would have to be retrieved with a different antenna aim. But as I explain, if a 2nd​ scan is done with a different antenna aim, the stations saved from the first scan are lost.

It troubles me that Dish didn't develop software that would allow a user to simply append only 1 or 2 channels to the established list. :mad:

Any thought on this? Has anyone experienced this or heard of this from others?
1 Replies · 34 views
dishstaller
I hear complaints from customers each and every day. I chose not to install OTAs with a doggle for a reason.

BTW, I like your user name


View: https://www.youtube.com/shorts/MXNU6pQFkok
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R
Last reply · posted in Computers and Gadgets
After having continuing trouble with my eight+ year old Dell Inspiron laptop I am looking to hopefully catch a good deal on new one. My options to buy is Costco and Sam's Club. It seems like a lot of new laptops are 2 in 1 which I do not need. I use the laptop to mainly surf the web and keep up with my finances, money and bills. I would like to have at least a 15" screen and having a touchscreen is a plus. The keyboard would need to lighted also. I don't game any. It would have to be Windows instead of and not Mac. The brands I see the most are Asus, Dell and HP. My two last laptops has been Dell's. Of these brands are there any standouts over the other brands. My budget (hopefully) is $600+-. Also while researching I noticed that do not have ethernet ports.
8 Replies · 130 views
EarDemon
Why not do a CTO directly through the manufacture? Get exactly what you want. Plus It's quite common to find 10%% (or higher) discount codes for Dell and HP.

Backlit keyboards are pretty much standard, and in the constant effort to try to make devices and thin and dainty as possible ethernet ports are becoming rarer, if not a normal ethernet port, you may be able to find a laptop with drop-jaw style one.
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TRG
TRG
Dell and HP are usually heavily discounted during Black Friday sales. I picked up a Dell from Best Buy for 50 percent off. I ordered it online and picked it up locally at the store. Black Friday deals are just a couple of weeks away.
arlo
Can't really help with an exact set of suggestions. I can say that if you have a set budget. And $600 these days wont get you much. One thing I can say is check out Dell Refurbished.
I've suggested and even configured, ordered a few for friends who were a bit iffy in deciding what they needed and wanted.
Refurbished doesn't mean that they came back defective and were repaired. Companies and organizations who order quantities of the same computers often cancel or modify their requirements.
Dell builds usually on demand. Their direct refurbished line will be brand new, unused. Perhaps not exactly the "today" specifications of the latest-greatest. And you can get a nice pc for quite a bit less with full warranty.
Just a suggestion.
"I use the laptop to mainly surf the web and keep up with my finances, money and bills. I would like to have at least a 15" screen and having a touchscreen is a plus".

As far as Asus, HP goes. And others you may consider. I'd think $600 (new) would get you a laptop. A quality, long lasting one? Not so sure. Now. If you could get a $1000 lappy for $600. Good deal, don't you think?
Surf the web doesn't need a killer Nvidia graphics chip. Nor a pinnacle, top of the line Intel, AMD processor.
12-16 gigs of memory will get you by just fine.
I'm personally an Asus fan. Brands aside. The one thing is the batteries. We discussed that here someplace else.
I repair these critters. Batteries. Cheap laptops have cheap batteries. Asus suggests that you don't keep the charger plugged in all of the time to make them last. Like you see on phones where 85% vs full charge is suggested to preserve battery life.
harshness
Why not do a CTO directly through the manufacture?
Because there are fewer economies of scale with custom products. Savings come from giant contracts with major retailers.

RAM and GPUs make buying a computer now financial suicide. In 2023, I bought two 16GB RAM modules for my lone Windows machine. The cost was under $100. Now that equivalent RAM goes for $260.

One can opt for an on-CPU GPU, but you can't opt out of RAM. While Microsoft goes on and on about Windows 11 eventually being happy with 8GB of RAM, we know how that always ends.
Foxbat
GB is the new MB (remember when Windows used to be happy with 8 MB of RAM?)

I had great experiences with Dell's Refurbished systems in the past. I ended up getting Business desktops instead of the Home PCs since they didn't come loaded with bloatware and the one Desktop I got for Mrs. Foxbat even had a license for MS Office Professional included.
dishstaller
Pub Member / Supporter Lifetime Supporter
· posted in The Chit Chat Club
Dang female lions don't mess around when it comes to their kiddos....aka whelps.


View: https://www.youtube.com/shorts/Vvefv5xW77s?feature=share
0 Replies · 20 views
TheForce
Supporting Founder Pub Member / Supporter
Last reply · posted in The Phone & Tablet Zone
Apple Fall Hardware Event takes place today, September 9, 2026, at 10:00 a.m. PT / 1:00 p.m. ET. It marks the debut of new CEO John Ternus and the expected reveal of Apple's first foldable phone.
139 Replies · 2038 views
harshness
Gone are the days when Apple "perfects" what debuted years earlier on an Android phone.
comfortably_numb
Gone are the days when Apple "perfects" what debuted years earlier on an Android phone.

Or better yet, innovate something "completely revolutionary!"
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S
Or better yet, innovate something "completely revolutionary!"
when was the last time they innovated something:rolleyes:
Foxbat
when was the last time they innovated something:rolleyes:
I'd probably say when they came up with their M-series of processors with integrated memory. That allowed Apple to get away from the inefficient Intel CPUs that were limiting their notebook computers.
Ramy
Supporting Founder
Last reply · posted in The Sports Section
Really excited for this season with Kentucky having a new coach and some really exciting recruits. Probably won't last long, but here's hoping this season is great.
180 Replies · 3060 views
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osu1991
:mad:..I hate playing in Ames.
Jimbo
:mad:..I hate playing in Ames.
I hate playing in LA ... :oldmad
Buckeyes had 2 weeks off and came out and looked absolutely terrible ... broke in a new Freshman Qb, but that wasn't the worst part ... undiscipline play, at last count they had 10 penalties.
Freshman in the end of the game trying to play catch up, had a lot of Over throws ... Bucks lose ...

#1 Miami struggled but pulled away in the end beating North Carolina by 3 ...

Tuesday the CFP brings out thier Playoff Top 12 again ... Buckeyes should drop from #2 to about #22 (they won't) had they had thier Starting QB, it would have been a different game ...

They could lose the rest of thier games at this point.
Foxbat
:mad:..I hate playing in Ames.
My in-Laws came from Iowa, she was a graduate of ISU. Unranked Iowa teams beat the #24 and #25 teams on Halloween.

And I heard that your QB made a poor choice after scoring the tying touchdown, leading to a fifteen yard penalty on the ensuing kickoff. The Cyclones were then able to take advantage of the resulting field position to get close enough to score the winning field goal.

In a NCAA Football season of bizarre endings, this has to rank right up there.
osu1991
My in-Laws came from Iowa, she was a graduate of ISU. Unranked Iowa teams beat the #24 and #25 teams on Halloween.

And I heard that your QB made a poor choice after scoring the tying touchdown, leading to a fifteen yard penalty on the ensuing kickoff. The Cyclones were then able to take advantage of the resulting field position to get close enough to score the winning field goal.

In a NCAA Football season of bizarre endings, this has to rank right up there.
Yep, but wasn't the QB. Was WR. Offense had a great game but defense didn't show up at all. I don't think they were even in the State.
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R
Last reply · posted in DISH Network Support Forum
I had an old Wireless Joey replaced by a Wireless Joey 4 (Android TV) - still have a Hopper 3 without the Hopper Plus. What do I have to do to get the EPG to show channel logos instead of "Dish"? This is annoying as hell and it's been this way for over a month…
1 Replies · 28 views
B
That kind of crap annoys me to no end.
That is one reason I haven't switched to h3and the same wireless joey 4
Hope you get it resolved.
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ewindowman
Lifetime Supporter
Last reply · posted in DISH Network Support Forum
Looks like dish is Bankrupt. Filling tomorrow Tuesday June 30th
432 Replies · 14603 views
ewindowman
Correct me if I'm wrong but Dish borrowed lots of money to start a wireless company that was most likely doomed from the beginning. They bought spectrum at any cost to acquire enough bandwidth to achieve their goal. They signed leases and bought equipment and borrowed more money. They held onto the spectrum as long as possible. They then sold most of it to different companies and made a lot of money. Then they started to screw the companies that were installing and leasing the equipment and cell towers. Now they are going to claim bankruptcy under the Dish Network part of Echo Star while they have billions of dollars. So Dish basically took everyone's money that was involved in the financial part of this transaction made a huge profit is screwing everyone over from the banks to the little guy working on the towers and infrastructure.
nelson61
"
They note that the Dish Wireless radios at issue support the 2GHz and 800MHz spectrum SpaceX is acquiring from EchoStar and Grain.

"Buying compatible equipment already installed on towers could give SpaceX a head start on its wireless terrestrial network build and throw a big bucket of cold water on Verizon's four-to-six-year timeline and $300-$500 billion estimate for SpaceX's buildout," said the analysts."
S
Correct me if I'm wrong but Dish borrowed lots of money to start a wireless company that was most likely doomed from the beginning. They bought spectrum at any cost to acquire enough bandwidth to achieve their goal. They signed leases and bought equipment and borrowed more money. They held onto the spectrum as long as possible. They then sold most of it to different companies and made a lot of money. Then they started to screw the companies that were installing and leasing the equipment and cell towers. Now they are going to claim bankruptcy under the Dish Network part of Echo Star while they have billions of dollars. So Dish basically took everyone's money that was involved in the financial part of this transaction made a huge profit is screwing everyone over from the banks to the little guy working on the towers and infrastructure.
i heard charlie went to dubai begging for money. but he didn't get none... that should have raised red flags.
R
"
They note that the Dish Wireless radios at issue support the 2GHz and 800MHz spectrum SpaceX is acquiring from EchoStar and Grain.

"Buying compatible equipment already installed on towers could give SpaceX a head start on its wireless terrestrial network build and throw a big bucket of cold water on Verizon's four-to-six-year timeline and $300-$500 billion estimate for SpaceX's buildout," said the analysts."
Back when Dish was installing antennas everywhere for their internet service I mapped several of the tower locations around me. One is less than a mile away from me and several more about three miles away in several different directions. If SpaceX does something with these I may be in a prime spot.
S
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dishstaller
Pub Member / Supporter Lifetime Supporter
Last reply · posted in The Chit Chat Club
This should hit a lot of folks with a dose of reality. I can only imagine how much more common this will get as AI progresses.

I read several stories on this and most are clear as mud. They say a lot of the stolen bitcoin has been "locked out" and that everyone will be made financially whole. I guess time will tell if either of these statements are actually true.

17 Replies · 272 views
Juan
Where would you spend 6.3 billion in crypto without anyone noticing?..In today's digital world most countries are watching purchases over 10k
dishstaller
Where would you spend 6.3 billion in crypto without anyone noticing?
They say it was North Korea so they'll probably just use it to buy things they need....oil, food, etc from nations and entities who don't care where the money comes from and since it is BTC...it can be spent anywhere with no blowback.
meStevo
They say it was North Korea so they'll probably just use it to buy things they need....oil, food, etc from nations and entities who don't care where the money comes from and since it is BTC...it can be spent anywhere with no blowback.
North Korea can't pay for oil with BTC. The money has to be laundered and cashed out first. Analytics firms can trace it on the public blockchain, and exchanges (including Binance) have frozen money traced back to prior hacks when it showed up. Much of it may still gets through eventually. It's just slow and lossy, not "spend anywhere."

Someone using AI would be able to see the purchase...plus if you were to buy a couple billion barrels of oil or any other commodity..someone would notice..or if you bought your own country

It can be traced, the rest of this is pretty much your usual nonsense though.

How does it have such billions simply "on hand" to replace stolen billions?

Binance has had an insurance fund since 2018, funded by 10% of trading fees. It's around $1.2B, and Binance says it'll cover the rest from company money. As the world's largest exchange, it makes a lot in fees. On top of that, the ~$3B in frozen stablecoins can be reissued by Tether/Circle, so the actual hole is smaller than the headline.

You "print" it, of course. That's part of the magic of cryptocurrency.

Nobody can print bitcoin, Binance included. Supply is fixed by the protocol. The only thing in this story that can be frozen and reissued is stablecoins, because they have a company behind them.
R
They say it was North Korea so they'll probably just use it to buy things they need....oil, food, etc from nations and entities who don't care where the money comes from and since it is BTC...it can be spent anywhere with no blowback.

HA! That short/fat Dictator will buy more arms. He does not care about the people.
dishstaller
North Korea can't pay for oil with BTC. The money has to be laundered and cashed out first. Analytics firms can trace it on the public blockchain, and exchanges (including Binance) have frozen money traced back to prior hacks when it showed up. Much of it may still gets through eventually. It's just slow and lossy, not "spend anywhere."
Yeah, I read the same thing in multiple articles. However, when some type of hack takes place and a company's computer system is hit with ransomware, the culprits always demand BTC and those stories always say they want BTC because it is untraceable so the hackers are therefore never caught. It is contradictory crap like this that causes people not to believe any "official" statements when something like this takes place.
meStevo
Yeah, I read the same thing in multiple articles. However, when some type of hack takes place and a company's computer system is hit with ransomware, the culprits always demand BTC and those stories always say they want BTC because it is untraceable so the hackers are therefore never caught. It is contradictory crap like this that causes people not to believe any "official" statements when something like this takes place.
Bitcoin is pseudonymous, not anonymous; every transaction is public forever. Ransomware gangs ask for BTC mostly because it's easy for a victim to buy and can't be reversed, not because it can't be followed. The privacy-focused ones demand Monero instead.

The reason hackers often aren't caught is where they are, not the coin. If the wallet traces back to a group in Russia or North Korea, everyone can see the money and still can't arrest anyone. Traceable and catchable are two different things, and the media mashes them together.
dishstaller
The reason hackers often aren't caught is where they are, not the coin. If the wallet traces back to a group in Russia or North Korea, everyone can see the money and still can't arrest anyone. Traceable and catchable are two different things, and the media mashes them together.
Then doesn't that mean that NK can spend the BTC as it wants to or is there a way to flag the BTC, kinda like blacklisting an IMEI when it comes to cell phones.
meStevo
Operations returning to normal today as withdrawals are opening back up for Binance users.

Then doesn't that mean that NK can spend the BTC as it wants to or is there a way to flag the BTC, kinda like blacklisting an IMEI when it comes to cell phones.

Pretty good analogy actually. Bitcoin itself can't blacklist a coin since nobody runs the network. But the exchanges and cash-out points can, and do. Treasury publishes sanctioned wallet addresses (North Korea's included), and exchanges run every deposit through tracing tools. Coins traced back to a flagged wallet get refused or frozen.

So it's like a blacklisted phone: it still powers on, but no carrier will activate it. And just like those phones, the coins get shipped off to someone who doesn't check, in this case shady brokers who'll swap it for cash at a steep discount. NK can't walk up and buy oil with BTC, but after enough laundering, most of it does eventually turn into usable money.

Extending the analogy, if Bitcoin is an IMEI blacklist then stablecoins are like Apple's Activation Lock. The issuer controls it at the source, so once it's locked it's a brick everywhere. That's why the stablecoins in this hack got frozen within hours and the bitcoin didn't.