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Topic: What happens in the aftermath of a Bitcoin funded terrorist attack? (Read 1715 times)

hero member
Activity: 560
Merit: 500
★777Coin.com★ Fun BTC Casino!
I don't think it's going to happen .. the jihadis use hawalla to move money, which is much more effective than Bitcoin.  There is not enough of a cash market for BTC in the middle east to enable them to sell it for cash.  I honestly don't see it happening anytime soon ..
full member
Activity: 154
Merit: 100
Arms dealers are now accepting Bitcoin? No? Then they exchanged their Bitcoin donations for cash and purchased the weapons with cash. Cash funded, not Bitcoin funded.

Really where can I buy arms and weapons with bitcoins already ?

You might be able to get something at the dark nets Tongue
hero member
Activity: 518
Merit: 500
Islam and Nazism are belief systems, not races.
What the article DOESN'T mention or acknowledge is that the only way for a terrorist organization to acquire bitcoin in large quantities is to us government controlled fiat to buy bitcoin. That transaction would be the trigger to the government that a terrorist organization is making some financial moves. It may force governments to act on suspected terrorist organizations earlier than usual, but I don't think bitcoin will enable terrorism any more than using dollars does. It's possible to counterfeit fiat...not bitcoin, which makes doing business (for a terrorist) more expensive.

They could get bitcoin via donations from supporters around the world. IS already has supporters leaving first-world countries to die in their jihad. It's completely plausible that they could collect large sums from small donations. They probably have 100s of millions of supporters throughout the world.

I agree that cash is easier for terrorists to obtain and use, but the topic wasn't about that. Governments aren't looking for a reason to ban cash. They might use a terrorist attack as an excuse to try to stop cryptocurrencies. I think the crypto community is making a mistake by pretending this isn't a real issue. I suspect it's partly because there's an overlap between people interested in crypto and people who think there's no such thing as jihadist groups trying to use terrorism to impose their beliefs on the world -- the "9/11 was an inside job" types. At any mention of terrorism or jihad, they tend to roll their eyes like it's all made up.

I'm not sure how people into crypto should be preparing for a terrorist attack partially funded by crypto. I'm also not sure how people should/will react in the aftermath of it if/when it happens. Yelling about "Building 7" (or whatever the "false flag" theory will be) probably isn't the right response IMO, but I do expect there will be a lot of that.

For the record, I think jihadist terrorism is very real. If some jihadis decide to use bitcoin or some other crypto to fund their activities, I hope they lose their private keys. And then set themselves on fire.
hero member
Activity: 493
Merit: 500
Arms dealers are now accepting Bitcoin? No? Then they exchanged their Bitcoin donations for cash and purchased the weapons with cash. Cash funded, not Bitcoin funded.

Really where can I buy arms and weapons with bitcoins already ?

Comprehension fail.
hero member
Activity: 910
Merit: 1000
Arms dealers are now accepting Bitcoin? No? Then they exchanged their Bitcoin donations for cash and purchased the weapons with cash. Cash funded, not Bitcoin funded.

Really where can I buy arms and weapons with bitcoins already ?
legendary
Activity: 1260
Merit: 1001
The problem is they might lump in Bitcoin with the mixing services. Just like they lumped in marijuana with heroin.

The government will press for more regulation only if it is unable to trace the origin of the funds.
If terrorists have used mixing services, expect a crackdown on them.
legendary
Activity: 2828
Merit: 1222
Just looking for peace
If they go for bitcoins , though they can be easily tracked but what about if they use some mixing services Huh
i don't think that stay traceable after that
legendary
Activity: 1232
Merit: 1000
The government will press for more regulation only if it is unable to trace the origin of the funds.
If terrorists have used mixing services, expect a crackdown on them.
hero member
Activity: 493
Merit: 500
Arms dealers are now accepting Bitcoin? No? Then they exchanged their Bitcoin donations for cash and purchased the weapons with cash. Cash funded, not Bitcoin funded.
full member
Activity: 153
Merit: 100
In things like this I agree with Bill Gates that we need more regulation. But we cant have everything I guess.
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
I guess the same as what happens in the aftermath of a Dollar or Euro funded terrorist attack: nothing. Terrorists will be terrorists.

And CIA funded terrorist attacks.

CIA hasn't been made illegal yet.
legendary
Activity: 1176
Merit: 1011
I guess the same as what happens in the aftermath of a Dollar or Euro funded terrorist attack: nothing. Terrorists will be terrorists.
member
Activity: 84
Merit: 10
works at NaSCasino.com
btw...ISIS stole over $400 million from an Iraqi central bank.

They can use that much easier than Bitcoin among their non-technical brethren.

there you have it, chances are they would much more likely be buying rolex and cartier to launder their cash than bitcoin....
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
btw...ISIS stole over $400 million from an Iraqi central bank.

They can use that much easier than Bitcoin among their non-technical brethren.
member
Activity: 84
Merit: 10
works at NaSCasino.com
And who would be stupid enough to do that?

So you believe that the only way terrorist organization can acquire bitcoin is to buy it with us currency? very short sighted, no? LocalBitcoins? hacking? use your imagination.

I don't think it's a matter of time.

You don't summarize the article so I will, the article identifies the concern that since governments can put monitoring control over large transactions they can keep tabs on the financial moves of terrorist organizations. The article also states that these monitoring controls don't exist for bitcoin, so bitcoin enables terrorist organizations to move and use money unseen from government.

What the article DOESN'T mention or acknowledge is that the only way for a terrorist organization to acquire bitcoin in large quantities is to us government controlled fiat to buy bitcoin. That transaction would be the trigger to the government that a terrorist organization is making some financial moves. It may force governments to act on suspected terrorist organizations earlier than usual, but I don't think bitcoin will enable terrorism any more than using dollars does. It's possible to counterfeit fiat...not bitcoin, which makes doing business (for a terrorist) more expensive.

i think you might find that when you rock up with your $1m at a coffee shop wanting to meet  the "local bitcoin" trader that answered your add on local bitcoins, that you wont leave as free as you walked in.

wooow, easy, i thought it was your suggestion....
legendary
Activity: 1260
Merit: 1001
And who would be stupid enough to do that?

So you believe that the only way terrorist organization can acquire bitcoin is to buy it with us currency? very short sighted, no? LocalBitcoins? hacking? use your imagination.

I don't think it's a matter of time.

You don't summarize the article so I will, the article identifies the concern that since governments can put monitoring control over large transactions they can keep tabs on the financial moves of terrorist organizations. The article also states that these monitoring controls don't exist for bitcoin, so bitcoin enables terrorist organizations to move and use money unseen from government.

What the article DOESN'T mention or acknowledge is that the only way for a terrorist organization to acquire bitcoin in large quantities is to us government controlled fiat to buy bitcoin. That transaction would be the trigger to the government that a terrorist organization is making some financial moves. It may force governments to act on suspected terrorist organizations earlier than usual, but I don't think bitcoin will enable terrorism any more than using dollars does. It's possible to counterfeit fiat...not bitcoin, which makes doing business (for a terrorist) more expensive.

i think you might find that when you rock up with your $1m at a coffee shop wanting to meet  the "local bitcoin" trader that answered your add on local bitcoins, that you wont leave as free as you walked in.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
"Bitcoin and other offshoot digital currencies have been allowed to flourish in the Western world largely free from any significant government oversight, but that may change very quickly. Should a significant terrorist incident financed with Bitcoin, occur on US soil, it is within the realm of possibility that digital currencies will be outlawed very swiftly. For those of you who think that governments would never be this ignorant and short sighted, let me remind you about the futile “War on Drugs” still being waged by the US authorities! "

Sounds like he knows too much about the big picture, are "they" going to hit the USA soon?
member
Activity: 84
Merit: 10
works at NaSCasino.com
So you believe that the only way terrorist organization can acquire bitcoin is to buy it with us currency? very short sighted, no? LocalBitcoins? hacking? use your imagination.

I don't think it's a matter of time.

You don't summarize the article so I will, the article identifies the concern that since governments can put monitoring control over large transactions they can keep tabs on the financial moves of terrorist organizations. The article also states that these monitoring controls don't exist for bitcoin, so bitcoin enables terrorist organizations to move and use money unseen from government.

What the article DOESN'T mention or acknowledge is that the only way for a terrorist organization to acquire bitcoin in large quantities is to us government controlled fiat to buy bitcoin. That transaction would be the trigger to the government that a terrorist organization is making some financial moves. It may force governments to act on suspected terrorist organizations earlier than usual, but I don't think bitcoin will enable terrorism any more than using dollars does. It's possible to counterfeit fiat...not bitcoin, which makes doing business (for a terrorist) more expensive.

i think you might find that when you rock up with your $1m at a coffee shop wanting to meet  the "local bitcoin" trader that answered your add on local bitcoins, that you wont leave as free as you walked in.
legendary
Activity: 1260
Merit: 1001
Traced?? Tumblers, using intermediary cryptos like Darkcoin? using multiple exchange acc and shuffling the amounts. Lots of options to make blockchain analysis nearly impossible.

So you believe that the only way terrorist organization can acquire bitcoin is to buy it with us currency? very short sighted, no? LocalBitcoins? hacking? use your imagination.

dude, local bitcoins still needs currency... but yea, theft/hacking is of course an option too. except the theft of any significant amount (like the bter hack today) is readily known, and the addresses involved are then known and can be tracked.
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
It probably would only be a blip on the news but there would be about 3 or 4 threads on bitcointalk about it constantly bumped into infinity.


And they would find out that the bitcoins weren't actually used in the attack, just that one guy in the organization got some bitcoin donations and that same organization conducted a terrorist attack. The bitcoins used to buy drugs for the opium they bought to get high the night before the attack.
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