Topic: German Government Tracks Bitcoin Transactions To Prevent Terrorism Financing - page 2. (Read 1126 times)
January 05, 2016, 12:55:44 PM
But... I do not see how they pretend to track them. At most, they can only track amounts moving from one account to another, but they do not know if the accounts are in country X or Y or if they are owned by person X or Y. It would not be very efficient to track things like that...
January 05, 2016, 12:38:25 PM
Want to trnsfer money to another country?
Buy a domain name in one country, and sell it in another.
Buy a boat and sail it across the sea, then sell it in the other country.
Do the same with antiques.
Put a fake auction on Ebay, and pay for the item without requiring delivery.
These are just a few methods that occured to me over coffee, I'm sure you guys can think of others.
Buy a domain name in one country, and sell it in another.
Buy a boat and sail it across the sea, then sell it in the other country.
Do the same with antiques.
Put a fake auction on Ebay, and pay for the item without requiring delivery.
These are just a few methods that occured to me over coffee, I'm sure you guys can think of others.
January 05, 2016, 12:25:14 PM
Either way this doesn't sound like good news for Bitcoin. I agree that terrorist groups use fiat and I'm very sure they use cash to finance operations but this is another spot for Bitcoin in the eyes of the overall population.
January 05, 2016, 12:21:01 PM
I think that decision to agree to take millions of refuges under EU wings (mainly forced by Germany) from Syria and Middle East (and God know where else),
was 100 times more impactful on plague of terrorism than Bitcoin ever was or will be responsible for.
And now they want to push some papers around and convince public opinion that politicians are doing something by restrict bitcoin. Laughable.
was 100 times more impactful on plague of terrorism than Bitcoin ever was or will be responsible for.
And now they want to push some papers around and convince public opinion that politicians are doing something by restrict bitcoin. Laughable.
January 05, 2016, 12:18:55 PM
Lets compare this with the failed 'war on drugs'. If government agencies can't stop physical objects (smuggled drugs) from crossing borders, how do they expect better results in the war to shut down secure digital money transfers to terrorists? Its hopeless for them.
January 05, 2016, 12:17:00 PM
The governments of the world might be able to track cryptocurrency but they will not be able to control it. Terrorist are not using cryptocurrency as a major source of income and wealth transferal yet, I could argue that terrorists use Fiat more for their purposes. The same is true for most criminals as well. We should never give up our freedom for security, terrorism is going to do continue, if we want to live in a free society we must be brave, the only alternative is totalitarianism so make your choice. I choose freedom every time, just understand that freedom also has a cost.
January 05, 2016, 12:13:36 PM
They can track all the transactions they want... Beyond that they will find it hard to do anything.
Also, another news matching Bitcoin and illegal activity...
Also, another news matching Bitcoin and illegal activity...
January 05, 2016, 12:03:25 PM
Germany wants to take cryptocurrency under government control. On January 2, the Christian Social Union (CSU) presented a document which offers several solutions to combat terrorism. According to Die Welt, one such solution includes taking transactions of virtual currencies such as Bitcoin under control. Such a measure is aimed at preventing terrorism financing, a problem that stands sharp especially after the Munich terror alert.
BitcoinCT r: 8 allows anonymous transactions without the necessity of personal identification or the ability to track sender and receiver. No wonder the currency is so convenient for illegal purposes such as financing terrorist acts. According to Die Welt, “the so-called Islamic State is financed mainly by oil sales, the antique-trade and, probably, by donations from around the world”.
That is the main reason the German government wants to control cryptocurrency transactions in the first place - they want to dry out terrorists’ income sources as even they need money to act. Seems reasonable enough, though it contradicts the principle of anonymity of Bitcoin. On the other hand it may be a fair price for the possibility of weakening terrorism.
I'm not sure about you but I just this kind of crap ... when they relate terrorism to Bitcoin , It's like terrorists or drug dealers or whatever don't use fiat
Full Article : http://cointelegraph.com/news/115998/german-government-tracks-bitcoin-transactions-to-prevent-terrorism-financing
BitcoinCT r: 8 allows anonymous transactions without the necessity of personal identification or the ability to track sender and receiver. No wonder the currency is so convenient for illegal purposes such as financing terrorist acts. According to Die Welt, “the so-called Islamic State is financed mainly by oil sales, the antique-trade and, probably, by donations from around the world”.
That is the main reason the German government wants to control cryptocurrency transactions in the first place - they want to dry out terrorists’ income sources as even they need money to act. Seems reasonable enough, though it contradicts the principle of anonymity of Bitcoin. On the other hand it may be a fair price for the possibility of weakening terrorism.
I'm not sure about you but I just this kind of crap ... when they relate terrorism to Bitcoin , It's like terrorists or drug dealers or whatever don't use fiat
Full Article : http://cointelegraph.com/news/115998/german-government-tracks-bitcoin-transactions-to-prevent-terrorism-financing
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