[2015-11-20] Nasdaq: The European Crackdown on Bitcoin is Misguided

[LiteCoinGuy]

The European Crackdown on Bitcoin is Misguided

Here we go again. It didn’t take long after the Paris attacks for somebody to point the finger at Bitcoin. The digital currency was included in a list of possible methods used by ISIS and maybe other terrorist organizations to move money around. That is quite possibly the case. We have seen by their use of Facebook and Twitter that these terrorists are tech-savvy, and diversifying illicit money is, from the perspective of those involved, a sensible precaution. In fact, I would be surprised if they didn’t use some form of digital currency in some way. Even so, the stated intention of the European Union to crack down on Bitcoin in the immediate aftermath of the attacks looks more like a panicked reaction than a reasoned response.

http://www.nasdaq.com/article/the-european-crackdown-on-bitcoin-is-misguided-cm545083

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[gogxmagog]

Indeed it is panicked, but a panicked "intention" more than reaction. It's the kind of thing politicos say in the heat of the moment without realizing how difficult and ineffectual their actions would be.
There's so much politicking around these terror events, obviously the politicians are scrambling to appear in control after being totaly shown powerless, they all want some kind of boogie man to point at. Why not magic boogie man money? Hardly anyone uses it or understands it, we will just throw it under the bus and the populace can believe their govt is looking out for their well being.

If they can't stop a handful of extremists (who they were aware of and knew posed real threats) stopping btc won't do squat

[notthematrix]

Offocource not , the need tech shavy people to impose it , and they will tell it cant be done.
The secret service is 100% dependent on IT minds , they wont kill bitcoin. because they understand what it is.
so it will simpley never be imposed , its like making a law demanding PI to be 2.26! ... PI does not give a .....

[mr.coinstrader]

The European Crackdown on Bitcoin is a knee jack reaction. The amount of digital currency used in terror network is much smaller than the fiat. What the European should do is not to support Saudi Arab, as it is the largest donor to the IS. The European governments should also take out the oil business controlled by IS.