How does Bitcoin help stop the funding of wars? - page 2.

aysg76

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Quote from: titular on May 30, 2021, 09:54:36 AM

So one of the most popular narratives I see is that the utilization of Bitcoin would help put an end to the illegal funding of wars overseas. How do you figure this?

If one entity needs to get currency to another entity they will be able to do so. The way that I am seeing it, it doesn't matter where the money comes from as long as they are getting the money in the first place. In fact, wouldn't Bitcoin make this type of funding more difficult to detect?

Then again, maybe I am looking at this the wrong way.

Could someone help shed some light on this narrative?

Seriously speaking I am not familiar with the narrative you are talking about and don't think there is any such narrative in our Bitcoin community.

But to its contrary basis many crits and government have claimed btc usage on dark web to fund illicit activities because it's decentralisation nature like dealing in arms and drugs etc.You don't have to go through any third party settlement of funds which provides you freedom of funds but not transparency as each and every transaction prompted from any wallet is stored on public ledger blockchain and you can find address details from that.

Bitcoin was created with aim to be used as deflationary payment system by Sathoshi and to provide your freedom from Central banks and fiat to some extent but not to counter any crimes.

Suppose any funds are transferred to some another wallet you can't take any serious action because daily thousands of Bitcoin are moved on the network by whales and investors.Moreover they prefer to make fiat transaction for such crimes as well so we can't say btc or any other currencies would help in this manner unless government themselves took a step to end geographical and political wars among themselves.

Sterbens

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Duelbits.com

Quote from: BrewMaster on May 30, 2021, 10:12:58 AM

bitcoin is a currency not an entity, organization, etc. it also can not perform miracles or change the human nature. whoever told you otherwise was lying.

if bitcoin as a currency then where is the center that owns the physical establishment of Bitcoin and what financial system is used? I think it's still very irrelevant to say Bitcoin as a currency. because what we know is that currency has a central state, government and system of complete control over its deflation and inflation.
we still can't see it in terms of and the nature of bitcoin as a currency. and so far Bitcoin is more commonly regarded as digital gold whose properties and characteristics can be equivalent to gold.

fiulpro

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Quote from: titular on May 30, 2021, 09:54:36 AM

So one of the most popular narratives I see is that the utilization of Bitcoin would help put an end to the illegal funding of wars overseas. How do you figure this?

If one entity needs to get currency to another entity they will be able to do so. The way that I am seeing it, it doesn't matter where the money comes from as long as they are getting the money in the first place. In fact, wouldn't Bitcoin make this type of funding more difficult to detect?

Then again, maybe I am looking at this the wrong way.

Could someone help shed some light on this narrative?

I surely understand what you mean. Bitcoins is for sure something that can be used like this but we have to understand that, people can fund for wars etc irrespective of the currency. At the same time they need to buy Bitcoins, which they will do so through wallets, now most of the wallets are actually very secure, they need verification, which can be very easily tracked by the government. Well, they are already doing it.

Previously it was used to fund for the wars etc and illegal activities for sure but the restrictions are much more sevear now.

- People are using fiat for ages, what's the point ? If they have to use something they will, does not matter what it is.

We can't blame Bitcoins.
Plus it's way easier to track Bitcoins instead of fiat.
_._

Taskford

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Why you came to that conclusion? Remember bitcoin is E-money and anyone can use that for anything they want including buyinh some illegal stuffs on the black market. And if they really want to use this well they can and somehow this is the best option for shady transaction since the sender or account owner is anonymous and government will get a hard time to locate them since the o chain transaction is hard to trace up.

Yogee

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Quote from: titular on May 30, 2021, 09:54:36 AM

So one of the most popular narratives I see is that the utilization of Bitcoin would help put an end to the illegal funding of wars overseas. How do you figure this?

This is probably the first time I've read such narrative so I don't know how that became popular. The usual narrative was actually the opposite. BTC is used by crooks to launder money, drugs, dark market, and anything that's deemed illegal. I don't see how funding of wars would be any good since it can be used by warring nations.

cabron

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https://www.betcoin.ag

Well, you said it yourself, it doesn't matter where BTC comes from as long as the money reaches the other party so it doesn't help put an end to the illegal funding!

Actually, it does help because BTC isn't anonymous, according to chainanalisys and it's also true because the blockchain can link every wallet to every transaction.
If an investigation identifies where the money comes from, it should also be easy to find out who is on the other end. Maybe the authorities could even apprehend suspects before they could start a war which is more important.

BrewMaster

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There is trouble abrewing

bitcoin is a currency not an entity, organization, etc. it also can not perform miracles or change the human nature. whoever told you otherwise was lying.

titular

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"Stop using proprietary software."

So one of the most popular narratives I see is that the utilization of Bitcoin would help put an end to the illegal funding of wars overseas. How do you figure this?

If one entity needs to get currency to another entity they will be able to do so. The way that I am seeing it, it doesn't matter where the money comes from as long as they are getting the money in the first place. In fact, wouldn't Bitcoin make this type of funding more difficult to detect?

Then again, maybe I am looking at this the wrong way.

Could someone help shed some light on this narrative?

Topic: How does Bitcoin help stop the funding of wars? - page 2. (Read 238 times)