Bitcoin Forum

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BTCitcoin’s price (BTC/USD) dropped following news of a planned EU clampdown on virtual currencies, which are suspected to be used by terrorist groups like the Islamic State of Iraq and Syria (ISIS), which carried out last week’s deadly Paris attacks.


Bitcoin suddenly dropped by 2.7% to $326 on Bitstamp during the hour after the news broke, but that has been the extent of the losses thus far. While not particularly impressive during volatile times, the drop was a noticeable event during what had been 48 hours of flat trade near $335.

Since falling below $300 last week and recovering, bitcoin has undergone a series of smaller, sudden moves in both directions. But for the most part, it has held steady between $320 and $340- far below the hyped high of $500, but still retaining over 40% of the gains realized in the recent rally.


http://www.financemagnates.com/cryptocurrency/trading/bitcoin-price-drops-following-news-of-eu-threat/

EU should ban USD if it is serious about cracking down on terror money. It should also ban oil import from Saudi as IS is supported by several entities there. There are some reports about this.

How many times have we seen official crackdowns and bans of Bitcoin in the past 3 years? How many times has it stopped or killed Bitcoin?
All this means to me is CHEAP COINS... If the govts keep it up I'll have 100s by next March

I'd be actually happy if the price crashed back to $250, this just doesn't feel right. Anyway, this is anything but result of the Paris incident, the news just gobbles up anything that seems interesting.

why don't they just ban terrorism?

+1


sometimes i confused about ban bitcoin
FBI sell bitcoin from silkroad ? why FBI not burning that bitcoin ? like he burning drugs  :-\

I'm not sure if there ever had been a statement that all the big nations try to go together against Bitcoin.Before that it had been always just one country. This time they could be more serious.
However this will not stop Bitcoin!And if price goes back to the 200s, damn I will buy of course!

Would you "burn" around $14,000,000 worth of Bitcoins? I don't think so. The FBI is very happy that it can generate extra income via these auctions.

Only smart people will think like you, the only one problem that i see with it, is that in the next years we will have less opportunities to buy cheap coins, like now... im not saying that there will never be more crackdowns and bans ( like with fiat money ), what im saying is that in the upcoming years you will never see a price like bitcoin have now...

Can confirm I'm stocking up on Bitcoin again with what money I can get as I'm convinced that these prices won't last, I don't think this drop is anything to do with the EU and if it is it will just be short term, nothing will stop Bitcoin in the long run no matter how much the aged beauracrats wag their fingers in disapproval.

If EU really target bitcoin as one of measures of frighting with terror then they are even dumber that I think. Bitcoin is less than 1% or even much less of total terrorists funds.
EU is simply want to look like they are doing something by pushing the papers in their office instead of doing some real fight.

They want to censor bitcoin, and financial freedom.

Embrace capital controls folks. Like your avatar says.

More than the movement of money, governments will be interested in identifying the parties behind each transation.
That is one reason they could possibly go after Bitcoin. I don't think they will be interested in attacking bitcoin to prevent flight of capital.

Price has started to recover to 33x. Attempts to ban wheel tire fail.

Markets react to bad news all of the time.... let's not over react like the EU is doing on this now. The politicians are easily fooled by these "dark forces" behind these false media

releases. Even if this was true and they are using Crypto currencies as a method to fund terrorism, it would not be different to any other method used before to fund terrorism.

Paris was attacked in 1995 and they used cash... now they are using funds generated from oil. Stop the illegal oil being sold and you will cut off one of these funding sources.

Bitcoin is just the scapegoat for all of this .... The innocent collateral damage.  :(

Rather stop this ---> http://www.nytimes.com/2015/03/15/world/asia/cia-funds-found-their-way-into-al-qaeda-coffers.html?_r=0

Actually you are wrong. Yes they would like to identify people behind transactions, but that is secondary objective.


Their main fear is that they cant control it, so you could move out trillions of $ in bitcoin and move it to another place, and crash your domestic economy. In terms of panic governments ban banks to allow foreign transfers to slow down economic crash.

If you are in a war zone you obviously want to cashout, send your money to another country, and leave the borders.

Governments will ban you cashing out, wont let you move your money out, and close the borders and not let you out.

Strong governments like the US don't care. You can move dollars out in any case. There are no capital controls.
They will just go ahead and print some more.

There are more illegal use of Euro than bitcoin. Bitcoin is more traceable than Euro because of the open ledge system.

I dont think so, if everybody will just withdraw their money from banks and move it to Europe, they would react.

Why do you think the 2008 crisis happened? Banks quickly moved out trillions of $ from the US, and the FED intervened and stopped them. If they werent then their economy would have collapsed right there.

Just before these clamping down articles the EU classified bitcoin as a legitimate currency so I can't see them clamping down on bitcoin any harder than they already do with fiat currency which lets be honest is the main issue in this regard.

One amusing aspect to this is just how powerless the EU/ECB are to prevent the existence of a EUR/BTC exchange rate. Their friends in the US have a New York run exchange called ItBit that has a BTC/EUR trading pair, and I think at least one of the Hong Kong exchanges has the same. Between those, Locabitcoins.com and Bitsquare (when the beta eventually gets going), the EU has no chance.  :D

Will there be a Christmas rally this year? The market is yearning for good news. I don't think this week will be outstanding. Although maybe Black Friday will help to lift :)

Reminds me of the "China Ban" scare which was so hard to get rid of. Now China is a huge leader in Bitcoin activity.

There was never a ban of bitcoin in China. That is only a ban to the banks so that they are not involved in bitcoin trading/transaction.
Now, you can transfer money directly into a bitcoin exchange. So that ban is also lifted.
There is not much innovation going on in China apart from bitcoin trading.

The price has ready come back from the drop. There is no way for EU to ban bitcoin and other currencies. Regulating bitcoin is good for its further adoption as a currency.