First Terror Attack Related With Bitcoin - INDIA

[Shasha80]

Bitcoin is used for terrorist financing has happened before. But the numbers are not many, but sometimes Bitcoin haters always do
black campaigns to bring down Bitcoin by saying Bitcoin is widely used for illegal activities. And now it is happening in India, it is
further detrimental to the crypto community in India. Because the Indian government will increasingly look down on Bitcoin. And the
opportunity for the Indian government to legalize Bitcoin is increasingly closed.

[CODE200]

How can we as citizens prevent these terror attacks in conjuction with Bitcoin or will there always be these occurances?

Bitcoin and other cryptos are being used for more than a decade. There's anonymity with this technology and it is not surprising to know that Bitcoin and ither cryptos are being used in illegal transactions, simply because there's this freedom. Once you own it, you are free to where you will use it; means of investment, purchase of goods if it is aloowed in your area, sending an amount to your loved ones and even using it to send money to be used in war, perhaps. This is known for years already but it is not the reason why cryptos are banned to some countries.

[Kemarit]

Oh well, not the first time to hear this news though, illegal drugs, sex trade and terrorism with the use of Bitcoin has been reported already. But since according to the reports, it's the first time in India so it will be highlighted by people who are against Bitcoin in that country.

The situation in India is already volatile as the government is torn between banning them or making them legal and with this news, it will make the case very easy for authorities to put a ban, hopefully I'm wrong though.

[amishmanish]

The situation in India is already volatile as the government is torn between banning them or making them legal and with this news, it will make the case very easy for authorities to put a ban, hopefully I'm wrong though.

This article sound like a planted story with a motive. The whole article talks about the plan to transfer and buy stuff with bitcoin. No proof that this actually happened. For people who are not familiar, this will automatically be a red flag about bitcoin. There a lot of industry leaders, young startups involved in bitcoin and other cryptos in India. The media and government should be more responsible in reporting these things.
For example, the media house should include that what Supreme Court had to say on bitcoin or how governments around the world are trying to work their way with it rather than just paint it negatively. Yet, such informed and bipartisan reporting is too much to expect from our gutter-chaap media of these days.

[Sithara007]

This is the worst thing that can happen to Bitcoin users in India. Already we have a system that is very hostile towards the usage of cryptocurrency. Exchanges and Bitcoin ATMs are not permitted here in India. A banking ban was in place for many years, before it was struck down by the supreme court. Two years ago, a top bureaucrat came up with a draft law, which makes holding Bitcoin a criminal offense which is punishable by up to 10 years in jail. Fortunately the government didn't agreed with the bureaucrat and fired him. But things may change now.

[Hasan905]

For the first time a IS terror attack planned for execution is related to bitcoin. Couple have been arrested in Delhi, and on investigation the funding process happening through bitcoin is found. On further back tracking it was from a women from UK sending funds to the respective wallet. The attack has been planned to be executed in fourteen places at once. Already the government has been opposing the usage of cryptocurrency. Now this will be an added opportunity to stop usage of cryptocurrencies.

Source : Bitcoin to Fund Terror

Every day millions of fiat currency being used as terror donations worldwide. It doesn't mean that govt. will ban it. Media and news portals using this kind of news for making a negative hype, so that the banking system can use it for putting away digital currency.

[wxa7115]

Now that they have this other bad news, I'm sure those who oppose Bitcoin in their country will not let this thing slide and will take advantage of if to further hate the idea of using Bitcoin as a form of payment in their country. let alone that, banning Bitcoin again will be the case this time because of this incident. However, if the majority of the officials who don't let that happen will find some way to resolve this, it will be erased from the mind of people soon.

To me this seems like the hidden intention behind the article, governments need a legitimate reason to ban something otherwise people are going to begin to ask questions about why they are banning something that presents no harm to the community and now they are trying to convince people that anyone that uses cryptocurrencies could be someone that could do something  like this.

And people being as naive as they are will fall for this and most likely support the ban of cryptocurrencies in many countries by the use of this excuse, however what governments do not understand is that this community is exceptionally strong and the greater the push to ban cryptocurrencies the more obvious it becomes they are worried about their fiat currencies not being able to keep their monopoly.

[thesmallgod]

maybe it will be regulated or ban in some parts of the country but cannot be totally banned throughout the world. This is not a new thing. Alot of offences has been committed that crypto transfer was involved but that does not justify the banning of crypto. Since people demand for ransome, bribe, laundering etc in fiat, does that means the fiat should be ban ?

[bryant.coleman]

I am not very convinced about the version being given by the authorities. If the radicals want to transfer money from London to India, they don't need to complicate the matters by using cryptocurrency. Much better options, such as Hawala are available. I would say that either the individuals involved here are complete imbeciles, or the authorities are cooking things up, so that they can ban cryptocurrency.

[iv4n]

I am not very convinced about the version being given by the authorities. If the radicals want to transfer money from London to India, they don't need to complicate the matters by using cryptocurrency. Much better options, such as Hawala are available. I would say that either the individuals involved here are complete imbeciles, or the authorities are cooking things up, so that they can ban cryptocurrency.

Totally agree with you, it was my first thought after seeing this headline! What a manipulation on high levels, they're trying to turn bitcoin into some evil technology that is used for illegal activities... and after they convince people in that it will be easier for them to ban it. Radicals (criminals, terrorists, drug lords...) are people like any other people, and they will always search for the best tool (fast, secure, cheap...) to transfer the money from one place to another, it's what all people do basically.

[imstillthebest]

maybe it will be regulated or ban in some parts of the country but cannot be totally banned throughout the world. This is not a new thing. Alot of offences has been committed that crypto transfer was involved but that does not justify the banning of crypto.

this was also the first time happen to them . i know its scary because you expect that your country was clean and  crime free but why not call this as a warning first or first offence , if the same act happen agan and again that should be the time that they will ban btc for good .

i like your suggestion of regulating it instead of banning it , that way people can still use btc and they will be more confident because they know its know regulated and criminals can now be easily identified if ever they did a crime related to btc .

[Harlot]

It would be stupid on the Indian government's part if they did an action against Bitcoin and not the criminals themselves, if they made this the reason of their plans to ban cryptocurrency they would look like a dumb government. If you ask anyone if Bitcoin or cryptocurrencies will disappear will this make all the crimes that is happening now will also disappear? Of course not crimes existed before and will still exist now with or without cryptocurrencies, banning the mode of payment won't mean a thing to them as they will have other ways of getting the money.

[aysg76]

For the first time a IS terror attack planned for execution is related to bitcoin. Couple have been arrested in Delhi, and on investigation the funding process happening through bitcoin is found. On further back tracking it was from a women from UK sending funds to the respective wallet. The attack has been planned to be executed in fourteen places at once. Already the government has been opposing the usage of cryptocurrency. Now this will be an added opportunity to stop usage of cryptocurrencies.

Source : Bitcoin to Fund Terror

It's just another attempt to defame the position of cryptocurrency in indian market as the government has already setup committees to form rules and regulations regarding Bitcoin and other alts and they do not appreciate its usage and this will move them in favour of stopping usage of such coins.The criminals opt different possible ways to fund the terror attack and they might find btc as more anonymous and safer way to transfer money over blockchain but we need to understand that money is money whether it's fiat or these cryptos and its not the currency which is harmful but the persons who use it in a manner that is unfair and against humanity like these terror attacks.But who cares they just need useless reasons to defame and stop usage of things which government fear can take their place and they might loose their control over them.

[plvbob0070]

It would be stupid on the Indian government's part if they did an action against Bitcoin and not the criminals themselves, if they made this the reason of their plans to ban cryptocurrency they would look like a dumb government. If you ask anyone if Bitcoin or cryptocurrencies will disappear will this make all the crimes that is happening now will also disappear? Of course not crimes existed before and will still exist now with or without cryptocurrencies, banning the mode of payment won't mean a thing to them as they will have other ways of getting the money.

I have to agree with this, to see this as a reason against Bitcoin is not an accurate justification because bitcoin is not the one who makes illegal activities by itself, it's just being used by the criminals and it's the same with fiat. I know this kind of news is not new at all, and we will probably see more but for me, it's still not enough reason to ban bitcoin (if they are thinking about it).

Also, I just want to mention, every time there's this kind of news related to crypto, they always include bitcoin or crypto besides the illegal activities that tarnish the name of bitcoin.

[bryant.coleman]

It would be stupid on the Indian government's part if they did an action against Bitcoin and not the criminals themselves, if they made this the reason of their plans to ban cryptocurrency they would look like a dumb government. If you ask anyone if Bitcoin or cryptocurrencies will disappear will this make all the crimes that is happening now will also disappear? Of course not crimes existed before and will still exist now with or without cryptocurrencies, banning the mode of payment won't mean a thing to them as they will have other ways of getting the money.

The government in India is a regressive one. They have banned porn in the country, and that tells a lot about their intelligence level. One of the biggest advantage with cryptocurrency is that the authorities can't ban it. How is it possible to ban a decentralized asset? All you need is a stable internet connection and either a smartphone or a laptop. But I am not sure whether the Indian government understands any of this.

[wxa7115]

maybe it will be regulated or ban in some parts of the country but cannot be totally banned throughout the world. This is not a new thing. Alot of offences has been committed that crypto transfer was involved but that does not justify the banning of crypto. Since people demand for ransome, bribe, laundering etc in fiat, does that means the fiat should be ban ?

You are using too much common sense, when something like this happens politicians know that the feelings of the people are on a heightened state and they know that they can use those feelings to their advantage and pass whatever law they want as long as they promise this is never going to happen again, basically people are willing to exchange their freedoms that has taken us so long to win just to obtain a little bit more of security.

And we know that this eventually leads to an authoritarian government that at the end does not ask their citizens about anything but then even in that kind of scenario bitcoin will protect people as it is doing already in many countries of the world in which governments are trying to silence political dissidents.