You'll see immediately that this is a very fast way of eliminating the

opponent's hand - In the right situation (against a player who holds,

at least, some cards strategically), it can be dropped suddenly to

cause unrecoverable losses. For this reason, it might be a good

sideboard option. The fallacy of it, is that many strategies play out

the hand quickly, and Larceny, therefore, won't have an effect. It

takes a fair number of turns to achieve the mana to play it, and by

that time, the opponent may be drawn out. With a player that plays

their hand out quickly, everything drawn thereafter will be played as

well, and you'll never get a chance to make them discard anything.

So! If you find that the opponent plays something like, say, Wrath of

God (Or other mass-destruction cards), Larceny can help - Simply

setup a force of petty creatures (fliers), that won't be profitable to

take down with Wrath of God, and clear out his cards with a

surprise Larceny before playing any creature that you won't want

wiped away! This is the real way of strategizing a sideboard.

Larceny applies to a creature base. Creature bases are a volatile

situation, given the popularity of mass-destruction. Larceny provides

a way of utilizing a carefully played force to ensure its own safety.
Eighth Edition
8ED Black