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Author Topic: Bitcoin Not Useful for Terrorists, Already Regulated Appropriately  (Read 1174 times)
edward222
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December 02, 2015, 08:57:31 AM
 #1

Credit to: Corruption News : Bitcoin Not Useful for Terrorists, Already Regulated Appropriately

Quote
In the aftermath of the Paris attack on November 13, the European Union (EU) is looking to crack down on bitcoin with the hope
of preventing the financing of future attacks. Regulators and advocacy groups agree, though, that kneejerk regulation is not what is needed; rather, it’s an increase in education.

“There’s nothing wrong with Bitcoin, it just means it’s another part of our financial system,” said Dana Syracuse, managing director and a member in the
Anti-Money Laundering (AML) and Regulatory Compliance Practice at K2 Intelligence, in an interview with Bitcoin Magazine.

Your thoughts guys?
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December 02, 2015, 02:25:33 PM
 #2

Yep there's nothing wrong with bitcoin. Bitcoin is just part of our economy but with anonymous features. we just need to plan out some solutions to prevent the bad from making use of it
~Bitcoin~
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December 02, 2015, 02:57:01 PM
 #3

Yes there is nothing wrong with bitcoin as it is with gold. But the way they are being used can be sometime wrong as you can see gold is also being used by smuggler and terrorist so i don't find necessary to ban bitcoin.

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December 03, 2015, 11:16:38 AM
 #4

Maybe there should be some sort of failsafe that can be activated to find the IPs linked to a certain bitcoin address, so authorities can track transactions if needed.


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December 03, 2015, 11:37:51 AM
 #5

Good to know there is little evidence indicating the use of digital currencies involving terrorist financing and so is money laundering. I can see there are more extortion crimes though and even with the public ledger, its hard to trace especially if the funds gets into an exchange site.

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December 03, 2015, 11:43:21 AM
 #6

dana is right, when terrorist buying thing with bitcoin, it dont mean bitcoin become available only for evil thing, just like when terrorist buying weapon with dollar

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December 03, 2015, 12:16:21 PM
 #7

for what we know they could use any other altcoin for their dirty movements of money, so bitcoin can not be blamed for this

or they can use their own currency, nothing will stop this, well besides no one accepting it...
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December 03, 2015, 01:23:10 PM
 #8

Thanks God we have started seeing such interviews and opinions from such important people. This terrorist crap wasn't a joke at all in my opinion. Regulators and governments would actually have a great shot to limit our existence by using the terrorists involvement in crypto.

I am glad that the situation about this is calming down little by little!
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December 03, 2015, 04:28:02 PM
 #9

“It would be far easier to launder euros or dollars than it would be to launder a decentralized, blockchain-based currency like bitcoin, though from an initial investigative standpoint, bitcoin might present more of a challenge due to the necessity of uncovering who is actually responsible for a given transaction or transactions. However, once the actor’s identity is uncovered, the blockchain makes it possible to uncover most, if not all, of a person’s transactions. This capability is without parallel when the subject is dealing in euros or dollars.”
Well I agree its easier to launder euros or dollar etc.. but does this other part means that if they want they can trace all our transactions in past? In the end bitcoin will be centralized.


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December 03, 2015, 06:19:22 PM
 #10

for what we know they could use any other altcoin for their dirty movements of money, so bitcoin can not be blamed for this

or they can use their own currency, nothing will stop this, well besides no one accepting it...

Like they was using his fiat money during the beginning of times? Wink

All those news about bitcoin and terrorism, sounds to me like an stupid strategy to show people who dont know nothing about cryptocurrencies how bad it could be, the truth is that is just an excuse to slow down the inevitable, bitcoin will have success soon or later...
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December 03, 2015, 06:31:43 PM
 #11

Credit to: Corruption News : Bitcoin Not Useful for Terrorists, Already Regulated Appropriately

Quote
In the aftermath of the Paris attack on November 13, the European Union (EU) is looking to crack down on bitcoin with the hope
of preventing the financing of future attacks. Regulators and advocacy groups agree, though, that kneejerk regulation is not what is needed; rather, it’s an increase in education.

“There’s nothing wrong with Bitcoin, it just means it’s another part of our financial system,” said Dana Syracuse, managing director and a member in the
Anti-Money Laundering (AML) and Regulatory Compliance Practice at K2 Intelligence, in an interview with Bitcoin Magazine.

Your thoughts guys?

Terrorists use anything to achieve their sick goal. I'm certain the main source is not bitcoin. Before bitcoin, terrorists also exist. Removing or reducing digital rights will not solve the problem of terrorism.

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December 03, 2015, 06:40:11 PM
 #12

Bitcoin is targeted by authorities only because it is new payment method and in the future can be direct concurrent of FIAT.
Politicians (at least those with half brain) know that banning bitcoin won't do anything to stop terrorists but they are trying to regulate bitcoin harder because it is easy way to show people - 'hey, we are doing something'.


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December 03, 2015, 08:19:46 PM
 #13

True.. In the end it doesnt matter with which currency they bought any weapons/explosives.
If they would have payed with oil.. cant ban it :7

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December 03, 2015, 08:19:57 PM
 #14

I've read many times that terrorists avoid as much as possible to use smartphones, which can easily be located by police forces, and leave traces of their wrongdoings, so I don't see them using BTC at any time. Better use cash, and that's what they do. 20€ and 50€ bills are the terrorist's best friends.
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December 04, 2015, 12:41:40 AM
 #15

Yes i think bitcoin is already regulated enough.

Also bitcoin is not truly anonymous as if an organisation throws enough resources at it i am sure they can find the actual owner of a wallet. Also companies like coinbase are starting to require more docs from customers so eventually most people will be registered anyway.
CoinBateman
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December 04, 2015, 03:13:36 AM
 #16

Why don't they try and regulate the EUR or USD cause its being used to fund terrorist activities ?

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edward222
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December 04, 2015, 06:27:37 AM
 #17

Thanks God we have started seeing such interviews and opinions from such important people. This terrorist crap wasn't a joke at all in my opinion. Regulators and governments would actually have a great shot to limit our existence by using the terrorists involvement in crypto.

I am glad that the situation about this is calming down little by little!

I also feel the same way  Smiley
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December 04, 2015, 07:44:25 AM
 #18

Why don't they try and regulate the EUR or USD cause its being used to fund terrorist activities ?

it's only mean that they don't even have the absolute control over their own fiat let alone, bitcoin, it's why they want to avoid with another thing on which their contorl would be even more lower
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December 04, 2015, 08:28:12 AM
 #19

But there are still ways to stay anonymous with bitcoins. There are still other way with which they can fund terrorist activities, those should be sorted out before regulating bitcoins.

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Newcoins2020
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December 04, 2015, 10:50:10 AM
 #20

But there are still ways to stay anonymous with bitcoins. There are still other way with which they can fund terrorist activities, those should be sorted out before regulating bitcoins.

Doesn't matter, bitcoin is a currency, just like the dollar and euro

It shouldn't have a negative effect on it
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