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Author Topic: Europe unfriendlyness is growing  (Read 2806 times)
BTCBinary
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February 02, 2016, 09:39:22 PM
 #1

Europe targets 500 euro bill as it fights terrorism

In the wake of the Paris attacks, European officials are stepping up their efforts to choke off funding for terrorists by going after large banknotes, virtual currencies such as Bitcoin and pre-paid cards.

“We have to ‘follow the money’ and cut off the resources these groups use to carry out their heinous crimes,” said Frans Timmermans, a senior official at the European Commission.

“By hitting them in their pockets we reduce their ability to travel, to buy weapons and explosives, to hide in our towns and cities, and to spread hate and fear online.”

Europe’s top law enforcement officials say the 500 euro banknote (worth about $546) makes life easier for criminals.
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February 02, 2016, 10:19:08 PM
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Good that they're tracking "dirty" money and cutting resources to the terrorists... But good luck proving certain Bitcoin belong to terrorists and even better luck stopping those funds from getting transferred.
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February 02, 2016, 10:29:38 PM
 #3

Was flicking the channels on Sunday and ended up watching "60 minutes" of all things and they where talking about illegal funds coming in to the States by setting up shell companies through lawyers. Interesting that they would want to crack down on bitcoin and not these lawyers setting up ways to get their clients money abroad.
Really have a hard time believing terrorist groups use bitcoin to move money around.

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February 02, 2016, 10:31:36 PM
 #4

Europa is a trap.
Capital control, stealth of people money in the banks.

Perhaps Russia or China can save us ... at the end.
Or perhaps it can take a war to stealth the gold reserve of each country.

hint : Europa don't have an army.
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February 02, 2016, 10:52:45 PM
 #5

This is the last news for Europe

http://www.reuters.com/article/us-eu-terrorism-financing-idUSKCN0VB1N7

EU to step up checks on Bitcoin, prepaid cards to fight terrorism

Quote
For both Bitcoin and prepaid cards, the Commission will propose new rules by the end of June forcing the identification of their users.

Users of virtual currencies may have to provide personal data when exchanging Bitcoin for real currencies. Consumers may be obliged to provide their identity when buying prepaid cards, a move that is currently not always required across the EU.

lol! How they will do that  Huh If anyone want to trade he can do it without release his id. And for the rest ppl we already give are full details to the exchanges if anyone use them. I dont knwo waht they have in their mind but in technology like this such measures are impossible

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February 02, 2016, 10:54:18 PM
 #6

And now they've found/created a reason to "regulate" bitcoin. I just hope it's not the end.

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February 02, 2016, 11:05:11 PM
 #7

This is the last news for Europe

http://www.reuters.com/article/us-eu-terrorism-financing-idUSKCN0VB1N7

EU to step up checks on Bitcoin, prepaid cards to fight terrorism

Quote
For both Bitcoin and prepaid cards, the Commission will propose new rules by the end of June forcing the identification of their users.

Users of virtual currencies may have to provide personal data when exchanging Bitcoin for real currencies. Consumers may be obliged to provide their identity when buying prepaid cards, a move that is currently not always required across the EU.

lol! How they will do that  Huh If anyone want to trade he can do it without release his id. And for the rest ppl we already give are full details to the exchanges if anyone use them. I dont knwo waht they have in their mind but in technology like this such measures are impossible

They could force this into more of area where those already adapting to bitcoin would have no issue. Those that are new would pause a little like say buying a joint. They could shut down sites like localbitcoin and set up fake trades to bust people not complying with their mandates in a "1984" type of way. Just two steps forward for them well we take one back.

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February 02, 2016, 11:09:15 PM
 #8

Reuters has a fest again bitcoin in this days. One more article for this financial system news site

http://www.reuters.com/article/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119

EU clamps down on bitcoin, anonymous payments to curb terrorism funding

In my opinion europe go to a financial dictatorship system. They are closing their boards, we have seen racist and facist increase even and for traditional open communities like denmark, sweden, we have seen an economical war against every new idea and to every new technology, and we see an economical war to everyone in the europe that is not agree with the europe governance.
I think europe is in big trouble.

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February 02, 2016, 11:18:17 PM
 #9

This is the last news for Europe

http://www.reuters.com/article/us-eu-terrorism-financing-idUSKCN0VB1N7

EU to step up checks on Bitcoin, prepaid cards to fight terrorism

Quote
For both Bitcoin and prepaid cards, the Commission will propose new rules by the end of June forcing the identification of their users.

Users of virtual currencies may have to provide personal data when exchanging Bitcoin for real currencies. Consumers may be obliged to provide their identity when buying prepaid cards, a move that is currently not always required across the EU.

lol! How they will do that  Huh If anyone want to trade he can do it without release his id. And for the rest ppl we already give are full details to the exchanges if anyone use them. I dont knwo waht they have in their mind but in technology like this such measures are impossible

They could force this into more of area where those already adapting to bitcoin would have no issue. Those that are new would pause a little like say buying a joint. They could shut down sites like localbitcoin and set up fake trades to bust people not complying with their mandates in a "1984" type of way. Just two steps forward for them well we take one back.

I don't know how people buy Bitcoins to spend on the dark markets, but I assume quite a few of them buy anonymously by meeting a localbitcoins seller in person. Stopping those anonymous localbitcoins trades could significantly reduce the money flowing through the darknet markets.
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February 02, 2016, 11:29:28 PM
 #10

This is the last news for Europe

http://www.reuters.com/article/us-eu-terrorism-financing-idUSKCN0VB1N7

EU to step up checks on Bitcoin, prepaid cards to fight terrorism

Quote
For both Bitcoin and prepaid cards, the Commission will propose new rules by the end of June forcing the identification of their users.

Users of virtual currencies may have to provide personal data when exchanging Bitcoin for real currencies. Consumers may be obliged to provide their identity when buying prepaid cards, a move that is currently not always required across the EU.

lol! How they will do that  Huh If anyone want to trade he can do it without release his id. And for the rest ppl we already give are full details to the exchanges if anyone use them. I dont knwo waht they have in their mind but in technology like this such measures are impossible

They could force this into more of area where those already adapting to bitcoin would have no issue. Those that are new would pause a little like say buying a joint. They could shut down sites like localbitcoin and set up fake trades to bust people not complying with their mandates in a "1984" type of way. Just two steps forward for them well we take one back.

I don't know how people buy Bitcoins to spend on the dark markets, but I assume quite a few of them buy anonymously by meeting a localbitcoins seller in person. Stopping those anonymous localbitcoins trades could significantly reduce the money flowing through the darknet markets.

I also see this positively. Bitcoin is a great technology, but which may also serve evil purposes. We cannot forget the great danger of terrorism and we should make all efforts possible to mitigate the possibility that it is used by terrorists.
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February 02, 2016, 11:47:24 PM
 #11

Terrorism and bitcoin are not related. Terrorism and Countries financing them are far more connected than bitcoin and a single terrorist cell.
Its just like 9/11 where people will hand over more liberty for the greater good. End of the process is "1984" and sadly its not a tinfoil idea anymore.

Think about how much money filters through a terrorist group and then tell me they are using bitcoin to wire money back and forth.
No terror group is going to trust its funds to potentially being grabbed by a Spy agency or worse tracked. Its really just people not thinking this through.

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February 02, 2016, 11:50:02 PM
 #12

I expected some form of movement but not this soon, hopefully it will all just be a mediocre annoyance.
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February 02, 2016, 11:51:36 PM
 #13

Think if you guys followed the online poker scene you could make a lot of comparisons to how bitcoin will be squeezed.

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February 03, 2016, 12:12:55 AM
 #14

Europa is a trap.
Capital control, stealth of people money in the banks.

Perhaps Russia or China can save us ... at the end.
Or perhaps it can take a war to stealth the gold reserve of each country.

hint : Europa don't have an army.

In my opinion europe go to a financial dictatorship system. They are closing their boards, we have seen racist and facist increase even and for traditional open communities like denmark, sweden, we have seen an economical war against every new idea and to every new technology, and we see an economical war to everyone in the europe that is not agree with the europe governance.
I think europe is in big trouble.

Have to agree with the sentiments guys: Europe has trouble and adversity coming at it from so many angles (both from within and externally)

  • Widespread tax increases
  • Widespread price inflation
  • Widespread public spending cuts
  • Increasing unemployment
  • Armed conflict on 3 fronts (Ukraine, Turkey, Libya/North Africa)
  • High and increasing levels of immigration (from the other side of the fronts to those 3 armed conflicts)
  • Increasing frequency/severity of terrorist attacks committed against the public
  • Widespread political acrimony, as solutions to the problems aren't obvious

The EU right now looks like a pressure cooker left forgotten on the stove.

Vires in numeris
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February 03, 2016, 02:05:31 AM
 #15

It's not the money but the people who are using it,they do not have to blame everything on the crypto -currency,they will always find ways to get hold of the funds in any way possible,they should increase their intelligent and restriction on who are entering their country not blame it on bitcoin..

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February 03, 2016, 03:11:42 AM
 #16

Well it's just about time they started realizing a 500 euros was only useful to terrorists, drug dealers, and corrupt officials, I say  Roll Eyes.
Think if you guys followed the online poker scene you could make a lot of comparisons to how bitcoin will be squeezed.

Such as... ?
I'm interested in knowing any reason why bitcoin could possibly fail. The more we know about a threat the more we can take appropriate steps to counter it.
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February 03, 2016, 03:23:09 AM
 #17

Europa is a trap.
Capital control, stealth of people money in the banks.

Perhaps Russia or China can save us ... at the end.
Or perhaps it can take a war to stealth the gold reserve of each country.

hint : Europa don't have an army.

In my opinion europe go to a financial dictatorship system. They are closing their boards, we have seen racist and facist increase even and for traditional open communities like denmark, sweden, we have seen an economical war against every new idea and to every new technology, and we see an economical war to everyone in the europe that is not agree with the europe governance.
I think europe is in big trouble.

Have to agree with the sentiments guys: Europe has trouble and adversity coming at it from so many angles (both from within and externally)

  • Widespread tax increases
  • Widespread price inflation
  • Widespread public spending cuts
  • Increasing unemployment
  • Armed conflict on 3 fronts (Ukraine, Turkey, Libya/North Africa)
  • High and increasing levels of immigration (from the other side of the fronts to those 3 armed conflicts)
  • Increasing frequency/severity of terrorist attacks committed against the public
  • Widespread political acrimony, as solutions to the problems aren't obvious

The EU right now looks like a pressure cooker left forgotten on the stove.


Yes, Europe is a continent of many huge problems.  The "Migrants" problem is huge just by itself.  If the current governments of Germany, Sweden, etc. do not do something tough against the "Migrants", the Hard Right will.  Which will lead to other scary problems.

The financial/economic problems are very serious too, lots and lots of them.  And these will be near-impossible to resolve easily.  Agree: NO solutions are obvious...

Which is too damn bad from my viewpoint (American).  Europe is the main source of our culture, Europe is a vital piece of the world.
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February 03, 2016, 03:28:58 AM
 #18

Well it's just about time they started realizing a 500 euros was only useful to terrorists, drug dealers, and corrupt officials, I say  Roll Eyes.
Think if you guys followed the online poker scene you could make a lot of comparisons to how bitcoin will be squeezed.

Such as... ?
I'm interested in knowing any reason why bitcoin could possibly fail. The more we know about a threat the more we can take appropriate steps to counter it.

it's simple. The EU will begin to check the EU exchangers which MUST have a financial license EVEN NOW and they don't have it. Smiley

Who can afford to take a financial license in EU? It cost over 700K(only the capital must be 350K euro +lawyers, staff, etc...shits).
Also, once a company has a financial license it must apply strict AML, KYC rules, external audits and so on.  Each transaction must be justified. You, as licensed company must show that you identity the source of the funds and so on...otherwise you lose the license and the biz.

More than that, the monthly cost for a such company is huge and the real profit from Bitcoin is low. Don't look over their fake volumes. Smiley

So, the EU officials just have to apply the existing laws and Bitcoin will value almost zero OR the exchangers will have to "move" somewhere in Asia but each country has laws for financial activities...I don't know where they can move so that they can be "free" .
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February 03, 2016, 11:36:10 AM
 #19

It's not the money but the people who are using it,they do not have to blame everything on the crypto -currency,they will always find ways to get hold of the funds in any way possible,they should increase their intelligent and restriction on who are entering their country not blame it on bitcoin..

nobody is blaiming X e-currency. the new restrictions will apply to all e-currencies.
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February 03, 2016, 11:49:25 AM
 #20

It's not the money but the people who are using it,they do not have to blame everything on the crypto -currency,they will always find ways to get hold of the funds in any way possible,they should increase their intelligent and restriction on who are entering their country not blame it on bitcoin..

nobody is blaiming X e-currency. the new restrictions will apply to all e-currencies.
Nobody can regulate the transaction of bitcoin but if they restrict on exchanging them to fiat than that will not make big problem to bitcoin ecosystem.

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