Crypto is a poor form of money for terrorists. - page 11.

hugeblack

legendary

Activity: 2702

Merit: 4002

Linking cryptocurrencies with terrorism caused by the lack of government control in the sense that you do not need any documents to use it.
It is a scarecrow "made by governments" that fears people to keep away from those currencies.

I would like to draw attention to the interpretation of terrorism, it differs from one state to another, and not only to the ISIS or jihadi groups "that are far from the Islamic religion," So linking them to Islam is a big mistake

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Terrorist organizations also include drug dealers who can access crypto easily.

cellard

legendary

Activity: 1372

Merit: 1252

Quote from: darkangel11 on September 12, 2018, 04:19:12 PM

Quote from: coinages on September 12, 2018, 02:52:40 PM

I honestly find this article to be a complete bogus. Crypto is not for jihadis or terrorists. And even if it was, the main countres that we consider to be a hub for terrorists, over there crypto are banned. And there are parts in some countries where there are not even access to clean water, let alone have access to the equpment to get engaged in the crypto market

They are in fact saying that the attempts to procure funds with crypto have been made but the results were pathetic, which is great for crypto. I've seen many opinions about it being the preferred money for terrorist organization and that it potentially could become even more popular among them in future.
Worrying about them using cryptocurrencies is a waste of time. ISIS is defeated and people in islamic countries are more worried about lack of work and money than extremists blowing up their houses.

Well bitcoin is really tiny right now. Once it becomes a force worth several trillions I actually worry that some sick fuck may be able to amass a fortune big enough to cause a disaster. What if someone manages to buy some nukes and aims them to some city? we never know what the future awaits. I hope anyone that manages to amass a bitcoin fortune got there because they are bright enough to know better, not because they are fucked up in the head and easily triggered into causing a disaster.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: coinages on September 12, 2018, 02:52:40 PM

I honestly find this article to be a complete bogus. Crypto is not for jihadis or terrorists. And even if it was, the main countres that we consider to be a hub for terrorists, over there crypto are banned. And there are parts in some countries where there are not even access to clean water, let alone have access to the equpment to get engaged in the crypto market

Its very obvious that is not for jihadist or terrorist because they choose to live isolated in a mountainous country or region. So its going to be difficult for them to send/received funds unless they themselves go down in the city which is risky or have someone to do it for them, but still communications is vital so they can be track. So its not really suited for them. They think that they can take advantage of crypto, but no way that bitcoin or any other crypto could be the new era of terror money. So I'm not surprised if they decided to go back to fiat to funds their activity, but sooner or later authorities will be one step ahead of the game and will track their every movement by following the paper trail.

bling-bling

full member

Activity: 364

Merit: 100

This is actually true. Unlike the US$ which has a fixed rate, cryptocurrencies fluctuates in value. So if they get paid with cryptocurrencies, the price or rate may decrease in time and so they would have lost a significant amount of value. In the real sense, crypto does present a number of advantages for its users but it is not yet as liquid or flexible as fiat in terms of use. And so if I were a terrorist, I would still go for fiat.

franciscoDC

member

Activity: 357

Merit: 10

No but crypto is for all,we can use it either we are poor or rich but there are some people that using it for illegal activities such as hiring criminal by also paying bitcoin,so if you are using this make sure that you will use it for goods.

aryaadikariyansyahsuwarto

full member

Activity: 714

Merit: 101

This Is Promissing Project

this is one of the reasons why many countries prohibit the use of bitcoin, they fear bicoin is misused by irresponsible people, so the government has difficulty in overcoming it, and the decision is made with the prohibition of bitcoin. We must stay away from criminal things in using bitcoin. .

Blessing97

jr. member

Activity: 71

Merit: 1

When and If terrorists start carrying out their acts of terrorism while using cryptos like bitcoin to make purchases for arms and ammunitions, it will spell a whole lot of bad news for cryptocurrency in general as it will paint cryptocurrency in a negative light.

redrose8226

newbie

Activity: 112

Merit: 0

You know what you are doing right now just by sharing this news? You are just trying to ruin the image of cryptocurrencies in front of the people who are new here and yet to have a grasp over the whole idea of cryptocurrencies. Fiat money is traceable and centralized yet there have been millions of terrorism funding and money laundering which is continuing till now but we tend to ignore these parts too.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Quote from: coinages on September 12, 2018, 02:52:40 PM

I honestly find this article to be a complete bogus. Crypto is not for jihadis or terrorists. And even if it was, the main countres that we consider to be a hub for terrorists, over there crypto are banned. And there are parts in some countries where there are not even access to clean water, let alone have access to the equpment to get engaged in the crypto market

They are in fact saying that the attempts to procure funds with crypto have been made but the results were pathetic, which is great for crypto. I've seen many opinions about it being the preferred money for terrorist organization and that it potentially could become even more popular among them in future.
Worrying about them using cryptocurrencies is a waste of time. ISIS is defeated and people in islamic countries are more worried about lack of work and money than extremists blowing up their houses.

coinages

newbie

Activity: 249

Merit: 0

I honestly find this article to be a complete bogus. Crypto is not for jihadis or terrorists. And even if it was, the main countres that we consider to be a hub for terrorists, over there crypto are banned. And there are parts in some countries where there are not even access to clean water, let alone have access to the equpment to get engaged in the crypto market

enogheghase123

copper member

Activity: 164

Merit: 1

the terrorist organisations uses fiat currency too, so crypto shouldnt been seen as an aid to terrorrism, terrorism has been here, long before cryptocurrencies came into being, and they have also been funded before crypto was invented.

coinages

newbie

Activity: 249

Merit: 0

It’s true underworld peoples are using crypto for their internal transaction because no one can control this crypto market even government also can't control this market. That’s why al Qaeda and Islamic State and other terrorist groups are using crypto.

TycheChi

jr. member

Activity: 37

Merit: 2

Crypto is a poor form of money for jihadists because they usually need to purchase goods with cash often in areas with unreliable technology.

According to this Forbes article

So they don't have computers, bitcoin merchants, fibre optics or 4G coverage in the dusty dessert or hideout hills.

According to Yaya Fanusie, director of analysis for the Foundation For Defense of Democracies Center on Sanctions and Illicit Finance: “Cold hard cash is still king"

So will they ban cash to prevent terrorism ? That would be some good hype to get the next bull run started !

According to the Forbes article a group called Mujahideen Shura Council (MSC) in the Environs of Jerusalem - was able to lure only two contributions for a total of a little over $500 in weeks of a 2016 online campaign. MSC sounds like a Microsoft certification. Perhaps the contributions were accidental and two suckers are still waiting for their online courses.

So not only is it terrible to use for the terrorists - their supporters appear to be crypto broke too.

Sounds like a business opportunity for a gun dealer to accept jihad coin. Make sure to use escrow. You cannot trust terrorists.

Topic: Crypto is a poor form of money for terrorists. - page 11. (Read 2124 times)