Topic: What would happen to the price with a bitcoin funded terrorist attack? - page 2. (Read 3073 times)

More drama and b/s about how BTC is used for crime and such.  Hopefully it doesn't happen.  Think we might see some blackmail and things like that eventually.

Wasn't there a failed Bitcoin ransom demand out our midst a few months ago?

Something about Mitt Romneys tax returns, a USB stick and a Cat?

Wow, a lot of people are very uptight about this issue. Elwar was speculating about the effect of a given event on price. It belongs in this section, it should not be locked/deleted, and YES good can come of this discussion. Stop being dipshits, guys. If the discussion scares you and gets your panties all up in a bunch, DON'T PARTICIPATE. Don't come in here and whine about it. "Oh noes Elwar is gonna give the terrorists some ideas..."

BACK ON TOPIC

Bitcoin is a fucking honey badger. Buying bombs with bitcoin and setting it off in public places will plaster it all over the news, sure, but price will certainly go up. Remember, increased scrutiny and increased regulation/intervention RAISES prices, not lowers them.
A lot of people are still convinced that this kind of thing would hurt bitcoin. Meanwhile, bitcoin is being battered left and right by banks, Paypal, regulators, etc and price is over 10 times what it was in December. How long is it going to be before people finally get it through their heads that no matter how many times they say "lol buttcon mass adoption will fail if it gets bad press and super regulated by gov't," the EXACT OPPOSITE is happening and has been happening for years.

I can guarantee there are terrorists and criminals already using guns, RPGs, etc purchased with bitcoin. Ever heard of the darknet? There are weapons sites shipping guns and other illegal weapons all over the world. Get your head out of the sand. It's internet cash, what did you THINK it was going to be used for? Refusing to talk about uncomfortable things doesn't make them just go away.
It hasn't been on the news too much yet because reporting on one specific instance of a "bitcoin funded terrorist attack" is, in TPTB's opinion, the "trump card" that they will only pull as a last resort. Problem is, it will have the opposite intended effect.
"If terrorists can buy bombs with bitcoin and not get caught, I can launder my millions of dollars offshore with bitcoin, and not get taxed!" -A bunch of rich people who have known about bitcoin for a while but keep hearing about it gaining legitimacy on the news - eventually they reach a breaking point and decide maybe it is worth using to get government off their backs or out of their bank accounts. Maybe not the super-rich so much but the wealthy are already interested.

I was only speculating on price. That is why I posted in the speculation forum. There have been several other threads about this topic in other subforums so it is not like I am giving any clue to terrorists. The media itself says Bitcoin is used to fund drugs and terrorists (however untrue that may be).

It is not a question of whether or not the USD has funded past attacks, they would point out that it is the anonymity of Bitcoin that allowed them to pull it off.

I agree that it is likely that the terrorists are not using Bitcoin as it still is mainly a computer geek currency, but our whole effort is to make it mainstream so that anyone can use it.

I think my personal opinion is that if the attack was 9/11 huge then I would trade my BTC for gold. If it was a Boston bombing type of size I would hold, maybe even buy into the short term panic.

I'm sorry but i won't entertain this topic. You must understand why. No good can come of this discussion.

Its a fascinating psychological phenomenon.  Many of these acts ARE copycat or inspired by media and literature.  Why are psychopaths not creative?  Someday brain analysis may tell us... of course it could simply be that most people are not creative so multiply the probabilities.  Also adding to that is that it is likely the environment is not conducive to technology...

Whatever the reason, as a society we are lucky that many of these people actually CAN'T think of it themselves.

As you can see in the opening post of Elwar, he asks himself what it will do with the price of Bitcoin when it comes out that a terrorist attack has been funded with this currency. That question belongs in this subforum to my opinion. Although i have to admit it's not the strongest topic, because i think the possibility of this is low. That we are in a Bitcoin forum doesn't mean to me that we shouldn't discuss the possible negative effects of it.

btw why did you delete your other post in this topic?

Agreed. This topic should be locked/deleted

Really though, this is a Bitcoin Forum so a discussion on Terrorism really doesn't belong here. In addition, there are many people trying to kill bitcoin already, yet you gladly encourage this idiocracy?

I assume you are fairly intelligent yourself, so here's an analogy for you, Ivanhoe. What if i walked into a bank robbers house and tossed the blueprints to Bank Of America on the floor? Would it be any different?


No good can come of this discussion.

These are my sentiments; Elwar's one of the most intelligent members on this forum.  If governterrormentists couldn't come up with this, I'd be surprised if any of them dressed on their own each morning.  Isn't the whole point of terrorism, in the purview of government, to strike terror in the hearts of citizens?  If so,


Terrorists win!

Elwar is an idiot because he speculates about this on a public forum..... of course terrorist couldn't think if this themselves. Paranoid Yanks strike again...

how about: every single organization and individual would be cooperative during the massive effort to backtrace the blockchain.  even anonymizers would fail because there would be enough resources to follow every path.  end result:  a complete sweepup of the terrorists AND its funding network.  but the damage to btc would be done...

yes Elwar you deserve the idiot award of the year.  9/11 first appeared in a tom clancy novel.  dont help these evil people in ANY way including doing their thinking for them by posting a possible soln to one of their problems in a public forum.  freedom requires responsibility.

It would explode

bullshit, everyone knows that 911 and boston were staged terror attacks.

Something on US soil would permanently kill Bitcoin, at least in the West.  It would be unpatrotic to use or accept BTC.  Banks would immediately block the money flow to and from, there would be sweeping, bi-partisan legislation.  All American allies would follow suit.  Price would collapse.  Mass adoption = DEAD

The funny thing about the media is that you can make people believe whatever you want them to if you have enough money...

   At some point bitcoin is more than likely to come under attack from big banking/money transfer services/all the other losers from bitcoin adoption.
 
    Whether there actually ever are bitcoin funded attacks on civilians, they will probably be reported as bitcoin becomes a credible threat to elites.

  It won't matter- bitcoin is like an avalanche- except that dollars are snow and bitcoin is the sun, the global economy is the mountainside, and banks and politicians are the trees. Allegations of bitcoin related terrorism will slow bitcoin adoption about as much as a tree slows an avalanche.

If a 9/11 type terrorist attack was funded by Bitcoin, it would catastrophically change the worlds view of our beloved currency. Sadly it could happen. If it does then lawmakers could pass an anti Bitcoin bill just like they passed an anti 4th amendment bill after 9/11. In the short term, the price could shoot up, as so much publicity would inevitably attract new buyers. However, I would hate to see Bitcoin become known as a terrorist currency.

USD's already regulated to death (there's almost nothing further which could be done except to nationalize the banks and/or obsolete physical cash) and accepted in culture. Talking about terrorists using USD would get a journalist fired for being dumb/boring.

Bitcoin, OTOH, is fresh and all set to be stomped on by bureaucrats. This makes it a sensational (synonym for newsworthy, here) topic.

I don't know, what do you think would happen if a terrorist attack was funded by USD?

Me too. Virtual slaps delivered.

If the media reported such an event, the probability would be that it was from anti-bitcoin disinformation source, inspired by ideas such as the OP in this thread,