Topic: ISIS upgraded to bitcoin , a guy caught supporting them with Bitcoins (Read 1534 times)

Why would you support such kind of an organization. For me the people financing them are even worse than the people in the organization. Cut all the financing sources they are using and they will be in the past. But all of this is done by someone powerful who has some kind of benefit from the war with ISIS.   

I hope he must be in jail to 'set and example' and partly 'revenge'. I have seen his pic and read the entire story - the guy looks too dopey to be found guilty of anything but stupidity. So they catch one and how many others are doing as much and worse. If a 17 year old kid can materially support a terrorist organisation using no more than the internet and Bitcoin the West is in serious trouble.

Was that a reason bitcoin has dropped in price, recently? According to this news bitcoin's price should go up significantly. There were many rumours of terrorists using bitcoin. Those rumours were leading to rise in price.

ISIS Says Its New Currency Will Break The Shackles Of “The Capitalist Financial System Of Enslavement”…




Forget the printing press. In readying for the rollout of Islamic State’s new money, goldsmiths and silver smelters have been toiling away.

The jihadist group on Saturday touted “the return of the gold dinar” in an hour-long video issued by its media wing, al Hayat. Islamic State’s policy-making Shura Council last year tasked its Beit al Mal, or treasury, with minting the coins, which come in several denominations made of gold, silver and copper.

The currency is meant to break the shackles of “the capitalist financial system of enslavement, underpinned by a piece of paper called the Federal Reserve dollar note,” the group said in the video. It didn’t explain where the coins were being minted, nor how they’ll be distributed or replace currencies circulating in the territory the group occupies in parts of Iraq and Syria.

Islamic State first announced its intention to issue its own money in November, five months after it seized the northern Iraqi city of Mosul and its leader Abu Bakr al-Baghdadi announced a caliphate. The move was seen by analysts as part of the group’s efforts to build the institutions of a functioning state.

The jihadists have amassed a war chest of millions of dollars, partly through collecting taxes, and by seizing oil refineries. Bank and jewelry store robberies, extortion, smuggling and kidnapping for ransom are other important sources of revenue for the group, which metes out brutal punishment to anyone who opposes its rule, including beheadings and crucifixions.
Morale Booster

Baghdad-based economist Basim Jameel said the announcement is an attempt to boost the morale of Islamic State fighters, who have suffered battlefield setbacks in recent months, including the loss of Tikrit in March.

The group said its 21-carat 1-dinar coin weighs 4.25 grams, while the 21-carat five-dinar coin weighs double that. Three dominations of silver dirhams and two of copper coins were minted for smaller transactions, it said.

Each coin bears an inscription that reads, “The Islamic State, a caliphate based on the doctrine of prophecy.” The 1-dinar coin also shows seven stalks of wheat, which the group said is meant to represent “the blessing of spending in the path of Allah.” The five-dinar coin bears the image of a map of the world.



http://www.bloomberg.com/news/articles/2015-08-29/islamic-state-finds-gold-coins-are-a-steal-as-throwback-currency



-------------------------------------------------------------
Bitcoin is the anathema of ISIS... The more we use bitcoin the more ISIS won't touch it.

Also, it is ISLAMIST STATE, and not DAESH written on the coin...
https://en.wikipedia.org/wiki/Islamic_State_of_Iraq_and_the_Levant

 

Everything that has value attracts evil.If isis can use oil (precious then btc) they can buy anything including bitcoin

^^ this

USD is used more by drug traffickers and extremists than BTC. That money should be outlawed it's only used by criminals.  

#
Of course they can. Where there is a will there is a way. There is whole networks of WesternUnion and MoneyGram "agents" that move funds around not only for drug dealers and co but also for companies such as US facing (offshore) poker rooms. You can move any amount of money around if you know what you're doing.

People can't send money anonymously But with bitcoin they can do , We can ban/stop/freeze any transaction involved in Fraudulent but not a Bitcoin Transaction.
I guess i am still on my words but you wrote everything wrong with the Fact.

Yes, exactly!
People can send money anonymously also in other ways, even with the fraudulent bank accounts and stolen credit cards.
We can't ban something because it can be used for criminal activity.
It is absurd to think that way.
How to take advantage of something, for good or bad, depends on the motivation of users.
Anything, even BTC, can be misused and therefore police forces of each country must be prepared to find such users and stop them.
I'm afraid that such situation can be used as negative propaganda against the use of Bitcoin and create negative public image.

No. The sentencing was announced on yesterday.

http://www.dailymail.co.uk/news/article-3214436/Virginia-teenager-ran-pro-ISIS-Twitter-account-sentenced-11-years-prison.html

And he got the prison sentence for helping the ISIS to recruit Reza Niknejad (a 18-year old ethnic Iranian with the American citizenship, who traveled to Syria, to join the ISIS).

This is old news, man, the update is that he was sentenced but he was caught and convicted last year sometime.

To me, this isn't even news. Using bitcoin is no different than using Dollars or Euros (cash) and if he used his computer to send payment then it would be easy to link the payment to him. Bitcoin is anonymous only at the address/blockchain level. All sorts of additional information can link an address to a person, which falls outside the scope of he bitcoin ecosystem.

Yeah I was just watching a video that mentioned the story that some government was chipping people who were on welfare. To make sure the money didn't go to support terrorism.

I tried to find the story, I don't know that this was the one they mentioned, but it talks about it:

Government Wants To "Implant Recipients Of Welfare Assistance With Satellite-Tracked Chips"

"Implantable RFID tracking chips. You know, to stop terrorism.

And to keep tabs on all the welfare queens, in order to keep tax dollars accountable.

There will be other rationales, too.

But really, governments just want to do all the spying they can within their power – and right now, technology offers more power than ever before to carry out universal surveillance, track and trace every person and every thing and put civil rights in the backseat where they belong.

The latest proposal from a politician in the Finnish government seems like a near-future dystopic film, but may not be far reality.

It’s not much of a stretch to imagine that the U.S., Britain or other governments in Europe would do this too, if they could get away with it.

In fact, an RFID chipped population could only be years away...."

Presently Volatility of bitcoin price attracts me ,can't say about the future what will bind me but i am sure i will hold it until 1 btc = 1 Life(I guess You understood)

What attracts you in bitcoin, personally?

Those two words (Bitcoin and ISIS ) will be all the Media needs if they want to drum up a shit storm on a quiet news day wether this is founded on truth or not.

Won't be the last time BTC will be up against the wall as somehow accountable for other cryptos used for evil or illicet purposes, probably just the start..

This is all media guys ,i mean common no facts and seriously everyone knows who made ISIS and for what purposes also ,if they wnted to end ISIS they could have done this before dinner,
this is POLITICS and thats how it works.

All types of payment methods attract shady characters. So you can't blame Bitcoin on that regard. And it has been proven that the ISIS is using the Qiwi wallet (a Russian based payment service), to transfer money from Europe and the Middle East to Syria. But so far, no one has reported about them using the Bitcoin or any other crypto-currency.

I feel exactly the same.

What this kid did was stupid, but you'd also have to arrest half the US Government for supporting ISIS if we are going to follow the same standards..

John Mccain, time to hang your ass..

Its not at all surprising that ISIS is using cryptocurrencies to receive money, as we all know that ISIS is using advanced technology and social media - they are known to spread their propaganda, recruit some individuals and seek for funds through the tools such as twitter, facebbok, youtube and ask.fm
This is really important to see that how ISIS is converting bitcoins into physical currencies in their respective dominant area.