Will bitcoin be used to support terrorists? - page 19.

White Christmas

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Quote from: Amph on April 06, 2017, 12:39:39 AM

that doesn't make bitcoin bad, everyone is free to use bitcoin, and you can't deny them no matter what they are or from where they come from, this is also part of the decentralization

what matter is that they don't see bitcoin as a bad tool only because bad guys are using it, the same terrorists can easily use cash or electronic payment, therefore the problem are terrorist not what they use

Exactly we have a freedom to used it where we want. As long as you know how to used it then you can. But I think even we are free to used it anywhere maybe we should be responsible and used it well. I hope no one will used it in a bad thing but sadly I agree that terrorists can used it also in their evil plans.

lombok

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Bitcoins are not created to support terrorists. Because bitcoin is created for entrepreneurs.

Cazkys

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No need, terrorists will just support themselves with the use of bitcoin. Bitcoin offers anonymity, remember? That’s one of the bad things in the good thing about Bitcoin. Total anonymity and privacy. You can go swimming in the dark web for drugs and weapons and no one will know who made the purchase. It will be in the blockchain but so what? Addresses will still be in the form of jargon and unless someone (stupid) will claim that they’re the ones who made the deal. Unless the authorities will find ways to trace and track them down, these buyers will remain anonymous

Smarty14392

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RUSI consultant David Carlisle said that there is a lot of attention given to the possibility of bitcoin being used as a terrorist financing tool but “overreaction could stifle an important new financial technology”. He noted that there are very few instances where cryptocurrencies have been used for terrorism. However, the prospect of utilizing virtual currencies for terrorist activity has produced a significant response from many governments. Believing the response to be sensationalized, he states that:

"Treating cryptocurrencies as an exceptional threat creates the misleading impression that more conventional financial products are not already equally, or more, vulnerable to terrorist exploitation."

Conasse

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i saw about 5-6 discussion here about the exact same topic.
there is nothing about bitcoin that make it more or less used for criminal activities

stompix

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Quote from: itsallpc on June 14, 2017, 06:18:48 AM

Just like US dollars,bitcoin is free to use for every one.Either it could be used for good or for illegal and terrorist activities.If terrorists want to use bitcoins,they have much better choice like Monero and Zcash which provide full anonymity.Bitcoin transactions could be easily traced since it is pseudo anonymous.

It's not the anonymity in transactions p2p that terorist seek.

They seek anonymity at transferring funds all the way and with monero or zcash what are you gong to do?
Use the only guy that sells those altcoins in a country?

With bitcoins you can exchange 1 million dollars in less than a day using just small traders via localbitcoins.
Can you do that with monero or zcash? Of course not.

And I doubt there is a terrorist organization running on btc in syria or afghanistan.
They need $ not BTC

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Quote from: buwaytress on June 19, 2017, 10:27:36 AM

Quote from: deisik on June 19, 2017, 09:18:45 AM

Quote from: Sowik on June 19, 2017, 08:49:13 AM

What makes you think terrorists dont already use it? Grin

Bitcoin is simply not very suitable to be used by terrorists

It may in fact be used for financing certain terrorist attacks but it wouldn't be possible at a larger scale like financing, say, ISIS and their likes since waging a war is very expensive and costs literally many billions of dollars. Obviously, it is the US dollar which is used to buy weapons, foods and pay "wages" by such countries like Saudi Arabia with their multibillion dollar reserves. Apart from that, if Bitcoin were actually used by terrorists in any significant degree, there would be a lot of noise and huge negative publicity. This doesn't of course mean that Bitcoin can't be used by special services and agencies

I came out of a meeting today where someone suddenly brought up North Korea and how they're the ones responsible for the crypto boom of last two weeks as they were seeking to hide their assets... I almost wanted to say how that didn't make sense because Bitcoin would expose them to a thousand different people with reasons to want to track them (hackers, activisits, etc.).

The logistical nightmare of crypto financing huge operations like ISIS is already insurmountable. Let's say they only wanted to turn oil money into Bitcoin, then we're talking about a conservative estimate of 3 million USD worth of oil daily - who on earth would trade 1,000 Bitcoins with ISIS every day? They'd be traced so quickly

It is not only that

But that is certainly enough to make Bitcoin pretty inconsequential to such "initiatives" and people behind them. Even if we assumed that Bitcoin were completely anonymous, it is just too small and insignificant to make any impact in this respect. If we also assumed that Bitcoin transactions were instantly fast, its price would be in 6-7 digits already, though it would be completely unusable due to insane volatility

Xester

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Quote from: kpcian on June 19, 2017, 08:42:13 AM

Every coin has two sides, every currency has both positive and negative using. It depends on you how you can use it and which purpose you are going to use it, so it doesn't matter if Bitcoin is using in the terrorism purpose because bitcoin itself can't to any terrorism activities, it's a material things so no one can blame on bitcoin...

Yes we cannot blame bitcoins if it will be used for terrorism. The main purpose of bitcoin is to act as what it is made of. But it will be sad if terrorist rootin for bitcoins to us3 for all their illegal transactions. And it is not impossible for bitcoin if it will be used for such act. We cannot blame them since bitcoin is close to perfection.

buwaytress

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Quote from: deisik on June 19, 2017, 09:18:45 AM

Quote from: Sowik on June 19, 2017, 08:49:13 AM

What makes you think terrorists dont already use it? Grin

Bitcoin is simply not very suitable to be used by terrorists

It may in fact be used for financing certain terrorist attacks but it wouldn't be possible at a larger scale like financing, say, ISIS and their likes since waging a war is very expensive and costs literally many billions of dollars. Obviously, it is the US dollar which is used to buy weapons, foods and pay "wages" by such countries like Saudi Arabia with their multibillion dollar reserves. Apart from that, if Bitcoin were actually used by terrorists in any significant degree, there would be a lot of noise and huge negative publicity. This doesn't of course mean that Bitcoin can't be used by special services and agencies

I came out of a meeting today where someone suddenly brought up North Korea and how they're the ones responsible for the crypto boom of last two weeks as they were seeking to hide their assets... I almost wanted to say how that didn't make sense because Bitcoin would expose them to a thousand different people with reasons to want to track them (hackers, activisits, etc.).

The logistical nightmare of crypto financing huge operations like ISIS is already insurmountable. Let's say they only wanted to turn oil money into Bitcoin, then we're talking about a conservative estimate of 3 million USD worth of oil daily - who on earth would trade 1,000 Bitcoins with ISIS every day? They'd be traced so quickly.

deisik

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Quote from: Sowik on June 19, 2017, 08:49:13 AM

What makes you think terrorists dont already use it? Grin

Bitcoin is simply not very suitable to be used by terrorists

It may in fact be used for financing certain terrorist attacks but it wouldn't be possible at a larger scale like financing, say, ISIS and their likes since waging a war is very expensive and costs literally many billions of dollars. Obviously, it is the US dollar which is used to buy weapons, foods and pay "wages" by such countries like Saudi Arabia with their multibillion dollar reserves. Apart from that, if Bitcoin were actually used by terrorists in any significant degree, there would be a lot of noise and huge negative publicity. This doesn't of course mean that Bitcoin can't be used by special services and agencies

Sowik

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What makes you think terrorists dont already use it? Grin

kpcian

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Every coin has two sides, every currency has both positive and negative using. It depends on you how you can use it and which purpose you are going to use it, so it doesn't matter if Bitcoin is using in the terrorism purpose because bitcoin itself can't to any terrorism activities, it's a material things so no one can blame on bitcoin...

emberbekas

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Bitcoin can be used for almost everything that other currencies able to do, whether it's bad or good. 'Killing' bitcoin to stop such bad actions isn't the best way to be picked. There are still plenty of ways they can do to catch the criminals.

legendscale

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I do not think so. How terrorists disburse the funds sent to them, there is no possibility of it. Bitcoin never be used to support terrorists.

gracia0023

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Everyone can use bitcoin in different ways even it in good time or bad time. Bitcoin is not variant to fiat or any form of money, as long as it have a value it will use in many ways even supporting in terrorist group.

bitbob82

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Quote from: itsallpc on June 14, 2017, 06:18:48 AM

Just like US dollars,bitcoin is free to use for every one.Either it could be used for good or for illegal and terrorist activities.If terrorists want to use bitcoins,they have much better choice like Monero and Zcash which provide full anonymity.Bitcoin transactions could be easily traced since it is pseudo anonymous.

just like any other currency, terrorist may free to use any currency that they consider suitable to use, but in fact bitcoin is not yet so much popular and may be the terrorist are not so much educated to use computer and internet for using bitcoin.

itsallpc

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Just like US dollars,bitcoin is free to use for every one.Either it could be used for good or for illegal and terrorist activities.If terrorists want to use bitcoins,they have much better choice like Monero and Zcash which provide full anonymity.Bitcoin transactions could be easily traced since it is pseudo anonymous.

SacriFries11

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Quote from: Doofus on April 06, 2017, 12:34:27 AM

On March 8th, Cheollima Civil Defense(CCD) released a video on its website claiming:” Han Sol, the son of Kim Jong Nam, and two other family members were met quickly and relocated to safety. “ And they receive bitcoin for financial support. http://news.8btc.com/bitcoin-plays-a-role-in-humanitarian-assistance This is something nice to do. But what if bitcoin be used to support some bad organizations, even terrorists? Is this already happening? What i am worrying is if bitcoin be widely used for bad things, negative news would be all over and bitcoin price will drop. It will lead to tougher regulation. Do u think world leaders are willing to kill btc to make sure they can fight terrirists?

There is a possibilty that bitcoin support terrorists. There are a lot of terrorist that that have wide influence. Maybe some of them do bitcoin.
If bitcoin is really used by the terrorists and world leaders notice it, I think world leaders will make action to stop it. If there are many terrorists, I'm sure world leaders will have a lot of ways to stop them. I think they will not kill bitcoin because it will affect and stop not lonly terrorist but also the innocent people.

vohoanghiep55555

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Quote from: Doofus on April 06, 2017, 12:34:27 AM

On March 8th, Cheollima Civil Defense(CCD) released a video on its website claiming:” Han Sol, the son of Kim Jong Nam, and two other family members were met quickly and relocated to safety. “ And they receive bitcoin for financial support. http://news.8btc.com/bitcoin-plays-a-role-in-humanitarian-assistance This is something nice to do. But what if bitcoin be used to support some bad organizations, even terrorists? Is this already happening? What i am worrying is if bitcoin be widely used for bad things, negative news would be all over and bitcoin price will drop. It will lead to tougher regulation. Do u think world leaders are willing to kill btc to make sure they can fight terrirists?

That is possible . Because Bitcoin is a virtual currency, it is not under the control of the government so black money flows can be circulated everywhere. So perhaps terrorist organizations will use this to provide economic resources for their activities. What's the exact word?

AleSergio

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Still on dark market, a lot of people are using bitcoin, would it be hackers, terrorist or drug dealers. Because of safe and non-visible transactions.

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