Topic: ISIS Using Bitcoins :o (Read 3692 times)

I don't know even if they use bitcoin then where the problem is?
Bitcoin can be used by anyone and everyone.

You guys seems surprised that at this day and age someone is using cryptocurrencies. So what if it's ISIS, terrorists or normal people? It is inevitable, bitcoin it is just a standard tool like normal fiats are. Nothing new, nothing surprising. Just reality.

yeah mate ..Any publicity is good publicity 

lol... it is not easy for ISIS to convert BTC to weapons or other stuff. The Bitcoin scene is not much developed in Turkey, from where most of their weapons are coming through.

My bum uses more Bitcoin than ISIS. ffs

they use bitcoin to buy weapons on black market? 

Looks like we have a coin they would not use then as there is already a 'porkcoin' trading on bittrex and a new piggy coin trading on poloniex 

For the people that took the doge coin confirmation seriously above me you made me laugh ahaha

Doge is too cute to ever be used by filthy terrorists.

Ring signatures can't be attacked as far as i've understood from reading the whitepapers.

Actually DRK can be attacked by attacking the nodes.
They cant attack Monero in any possible way AFAIK.

Why do they want to use BTC?

There are other coins out there with more annonymity features. The best thing is to leave them to use whatever they think, might be the most annonymous option, and then to trace the money to it's roots.

Where is this world going to, when you have to cut off people's heads and burn them in cages to make a religious statement?

The hate in humans for each other are so intense, that they justify these actions as being "correct"

lol

ISIS would be better off using drk coin , rather than using bitcoin, for anonymity.
Doge coin is the last coin they would use Would be hard to dump millions in that amount.

What confirmation are you actually saying that relates DOGE with being used by ISIS

Such moon Much doge confirmed.

What confirmation?

Let's make a piggycoin. Then we're sure they won't use that one.

I just got the confirmation, they use dogecoin.

You all seem to be missing a very important point... no matter what cryptocurrency is or is not being used, or which one is better to use, invariably they are only worth using if they can be cashed-out (or cashed-in) without being subject to monitoring/control.

Digital currency value is based upon the value of a given fiat currency (the reverse is not true).  So, if subversive agents are trying to move money from one country to another by way of a digital currency, they are stuck with the problem of how to move physical fiat currency between both countries.  

For example, let's assume a drug dealer moves his drugs from Mexico to the United States, and then collects his fiat currency in the states, for it to be of any value to him he must then get that fiat currency back into Mexico.  It would be easier for the drug dealer to smuggle the fiat currency back into Mexico then it would be to convert that fiat currency into Bitcoin (or whatever), because in order to get it into Bitcoin, the drug dealer must expose himself to either MSBs or Banks, and both of these are government controlled in that they must report such activity.  But lets assume the drug dealer has a considerable network of people that can travel throughout a given state (or states) and in small amounts deposit said money and convert to Bitcoin, you then have the problem of who in Mexico is going to cash out that Bitcoin back to fiat currency in MXN?  Remember, whatever company in Mexico that is capable of cashing BTC to MXN is going to have to report said transaction(s), and they themselves will need to have the banking wherewithal to exchange those BTC (which means they must sell them, which means an external/third party digital exchange with banking capabilities must be used) so they can get their fiat cash back (both principal and whatever profit percentage they made on the BTC to USD transaction).  This requires wire transfers, and wire transfers are subject to each government's rule.

The example drug dealer moving fiat currency from the US to MX (USD to BTC to MXN) is the simpler of examples, because border MSBs and Banks can use truck transports to move fiat currency across the border, though all of it must be reported just the same.  But when you have two countries that are separated by water, then things become much more difficult, because sizable amounts of fiat currency is bulky and heavy and if not reported is subject to confiscation (why are you moving physical fiat instead of using the banking system to wire the money?).  So the only effective way to move fiat currency is by way of the bank system (wire transfers), and so you are back to square one, in that it simply does not matter what cryptocurrency you use because at the end of the day it is only worth something if it can be exercised in fiat form.  

Although smaller amounts of fiat currency is much easier to move between countries from one bank to another using wire transfers, in the case of ISIS or any terrorist or subversive group or drug dealer or those wishing to move lots of money without detection, Bitcoin simply is not a viable route to take... it is much safer to take fiat currency in one country like the US, purchase a large amount of commodity, and then have that commodity shipped to another country, where it is sold and at which time one can cash out.  Although this route also has its perils, it is still far easier then the Bitcoin route.

Why will ISIS use Bitcoin? If ISIS is going to look for a new sources of Money.. I think darkcoin or any anonymous coin will be better.