You think terrorist groups around the world use Cryptos as a means of payment? - page 5.

davis196

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Quote from: Kyraishi on November 28, 2019, 02:19:08 AM

Literally every store in the darknet, whether it sells drugs, guns, hacking services, or sex services, all accept bitcoin, and prefer using bitcoin compared to other fiat options. So there is no doubt in my mind, that bitcoin and other crypto-currencies (I'm thinking about XMR, DASH, GRIN, privacy-oriented coins) are often used to fund terrorism.

Although, the lack of interest in privacy-oriented coins is a bit confusing, since I've always thought they are made for these things, but I guess they just aren't very convenient to use, and don't have as a big of a market as BTC.

Bitcoin is also, usually purchased from OTC trades (think old LBC, paxful, etc), and is usually bought in real life cash trades.

Thanks for repeating the same thing that I posted before you on this thread.
Keep it up with sig spamming the forum.

Casdinyard

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Quote from: BarryBBensonCoin on November 28, 2019, 01:46:07 AM

Do you guys think that they use cryptocurrencies in order to fund their armies or do they stick with trading with cash or trading valuable resources that they have?

They could use it, not only bitcoin but in fact litecoin is the second most use crypto currency in transacting in the dark and deep web. Obviously, these guys learned litecoin have cheaper transaction fee yet much faster.

Quote

Unless their funders don’t really accept cryptocurrency and they stick with the older methods of payment.

Nah, for sure they'll find a way to learn this crypto. More likely a mandatory for them.

Kyraishi

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Literally every store in the darknet, whether it sells drugs, guns, hacking services, or sex services, all accept bitcoin, and prefer using bitcoin compared to other fiat options. So there is no doubt in my mind, that bitcoin and other crypto-currencies (I'm thinking about XMR, DASH, GRIN, privacy-oriented coins) are often used to fund terrorism.

Although, the lack of interest in privacy-oriented coins is a bit confusing, since I've always thought they are made for these things, but I guess they just aren't very convenient to use, and don't have as a big of a market as BTC.

Bitcoin is also, usually purchased from OTC trades (think old LBC, paxful, etc), and is usually bought in real life cash trades.

BlackFor3st

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Quote from: BarryBBensonCoin on November 28, 2019, 01:46:07 AM

Considering that there are still many terrorist groups or insurgents groups around the world right now fighting with weapons that probably cost a lot. Do you guys think that they use cryptocurrencies in order to fund their armies or do they stick with trading with cash or trading valuable resources that they have?

I would not be surprised if they do trade with cryptocurrency considering that cryptocurrencies are really hard to trace compared to the conventional means of trading such as cash or valuable resources. Unless their funders don’t really accept cryptocurrency and they stick with the older methods of payment.

By the way, just to make it clear. I am not in any way planning to make a terrorist group or insurgency, I am just asking out of curiosity as I can see that those terrorist groups or insurgencies in the news must get their funding from somewhere and I was wondering what means do they use to trade for their equipment.

Terrorist movement is very difficult to trace especially that most of the terrorist were funded by the government officials or to its opposition.

But if they have means of cashing out and cashing in the crypto currencies then they will surely use it as the government has difficulty in tracing the crypto transactions.

MURONDI

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I'm not a terrorist so I don't know how they receive payment, there may be some who accept payments by crypto, terrorist perpetrators are not just anyone, they have a way so that their transactions cannot be traced even if they don't use crypto, terrorists existed before crypto was made.
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bxipp

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Many of us in here would think the same. it was yes because the anonymity is always cryptos main periodicity which terrorist will use as a payment for they to sell and buy something bad trough the internet. That why the government doesnt really like cryptos as they cannot track the payment from where or gone to where. Still it just our speculation to deny it or to accept the truth.

Daniel91

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Recently I heard news in local media that police catch some drug dealers in my country.
From what I heard, they bought drugs in the dark web with btc.
So, if drug dealers use crypto for their activities I'm sure terorist do the same.
Any way it's very practical way for them because they can hide their true indentity and police can't discover such transactions.
Some terrorist organizations know very well how to use Internet for their purpose, specially social networks.

gabmen

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Quote from: avikz on November 28, 2019, 02:00:51 AM

Lol! I love your self declaration in the last paragraph! Thanks for letting us know that you aren't planning to start your own terrorist group!

Anyway, we don't know if the terrorists are using cryptos for their funding or not because there's no way for us to know it! But definitely a chance is there and that's what is a big concern for the regulatory bodies worldwide and it's not a mere speculation! Money laundering and terrorism financing are two major risk areas that regulatory bodies are trying to mitigate before agreeing on a global crypto regulatory framework. FATF is actively working on this and they have also presented a guideline to the world leader in the last G20 summit in Osaka!

We, as commoners, certainly think that cryptos must not be used for illegal means because it will only earn bad reputation for cryptocurrencies. We want it clean and pure so that we can it as blessings and not as condemnation!

Hope it makes sense!

Well i'm sure that it's being used. What better way to deal anonymously with governments and powerful people than with crypto. I mean, it should already be a given that with crypto's features, it more than likely that it'll be suitable for illegal transactions. That's one of the reasons as well why sone governments and a lot of people are against or cautious about the widespread use of it.

avikz

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Lol! I love your self declaration in the last paragraph! Thanks for letting us know that you aren't planning to start your own terrorist group!

Anyway, we don't know if the terrorists are using cryptos for their funding or not because there's no way for us to know it! But definitely a chance is there and that's what is a big concern for the regulatory bodies worldwide and it's not a mere speculation! Money laundering and terrorism financing are two major risk areas that regulatory bodies are trying to mitigate before agreeing on a global crypto regulatory framework. FATF is actively working on this and they have also presented a guideline to the world leader in the last G20 summit in Osaka!

We, as commoners, certainly think that cryptos must not be used for illegal means because it will only earn bad reputation for cryptocurrencies. We want it clean and pure so that we can it as blessings and not as condemnation!

Hope it makes sense!

ranochigo

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There is no doubt that crypto are a suitable candidate for terrorist financing for the terrorist organisations due to their various features. Given the low acceptance rate and volatility of the crypto, I doubt it would be wise for them to be using crypto as a main source of their financing. It would still be more viable for the terrorist organisations to trade their resources to fund their operations.

The exchange have AML and KYC policies which could help to mitigate the chances of people purchasing Bitcoin specifically just to donate to the terrorist organisation. It would be unwise and inefficient to use Bitcoin as the main donation platform.

xvids

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Of course they use it to gain some funds.
Terrorist groups would use anything just to gain funds for their operation and crypto has been popular to darknet before it even become popular in the surface web,
That is also a reason why people thinks that Bitcoin is a dirty money because it is used by the criminals for buying and selling in the black market.

davis196

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Have you ever browsed the darknet?Almost all the darknet marketplaces accept bitcoin and altcoins(mostly monero) payments.Criminals use those marketplaces to sell drugs,weapons,counterfeit money,stolen personal info,etc.I don't know about terrorists.I've never met a terrorist in my life,but it's really possible for such groups to fund their activity or buy weapons using cryptocurrency.

BarryBBensonCoin

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Considering that there are still many terrorist groups or insurgents groups around the world right now fighting with weapons that probably cost a lot. Do you guys think that they use cryptocurrencies in order to fund their armies or do they stick with trading with cash or trading valuable resources that they have?

I would not be surprised if they do trade with cryptocurrency considering that cryptocurrencies are really hard to trace compared to the conventional means of trading such as cash or valuable resources. Unless their funders don’t really accept cryptocurrency and they stick with the older methods of payment.

By the way, just to make it clear. I am not in any way planning to make a terrorist group or insurgency, I am just asking out of curiosity as I can see that those terrorist groups or insurgencies in the news must get their funding from somewhere and I was wondering what means do they use to trade for their equipment.

Topic: You think terrorist groups around the world use Cryptos as a means of payment? - page 5. (Read 586 times)