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Author Topic: What would happen to the price with a bitcoin funded terrorist attack?  (Read 2983 times)
Elwar
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August 17, 2013, 10:31:10 PM
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Hypothetically, if there were a boston bombing or 9/11 type of attack on the US or another country and they found out that all of the funding was through Bitcoin, what do you think would happen to the price afterwards?

You know you would have the talking heads on the networks talking about how evil Bitcoin is with the usual "something has to be done" type of message. There would be knee jerk reactions aplenty.

Would this drop the price? Or would the publicity, however bad, raise the price?

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August 17, 2013, 10:33:31 PM
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Q. What has the War On Drugs done to the cocaine price? A. Made it rise spectacularly.
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August 17, 2013, 10:35:37 PM
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this is one of those thoughts you should keep to yourself. if i could slap you, i would

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August 18, 2013, 03:32:51 AM
 #4

this is one of those thoughts you should keep to yourself. if i could slap you, i would

Me too. Virtual slaps delivered.

If the media reported such an event, the probability would be that it was from anti-bitcoin disinformation source, inspired by ideas such as the OP in this thread,

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August 18, 2013, 05:12:29 AM
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I don't know, what do you think would happen if a terrorist attack was funded by USD?
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August 18, 2013, 06:01:16 AM
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I don't know, what do you think would happen if a terrorist attack was funded by USD?
USD's already regulated to death (there's almost nothing further which could be done except to nationalize the banks and/or obsolete physical cash) and accepted in culture. Talking about terrorists using USD would get a journalist fired for being dumb/boring.

Bitcoin, OTOH, is fresh and all set to be stomped on by bureaucrats. This makes it a sensational (synonym for newsworthy, here) topic.

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August 18, 2013, 10:19:54 AM
 #7

If a 9/11 type terrorist attack was funded by Bitcoin, it would catastrophically change the worlds view of our beloved currency. Sadly it could happen. If it does then lawmakers could pass an anti Bitcoin bill just like they passed an anti 4th amendment bill after 9/11. In the short term, the price could shoot up, as so much publicity would inevitably attract new buyers. However, I would hate to see Bitcoin become known as a terrorist currency.
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August 18, 2013, 11:39:00 AM
 #8

The funny thing about the media is that you can make people believe whatever you want them to if you have enough money...

   At some point bitcoin is more than likely to come under attack from big banking/money transfer services/all the other losers from bitcoin adoption.
 
    Whether there actually ever are bitcoin funded attacks on civilians, they will probably be reported as bitcoin becomes a credible threat to elites.

  It won't matter- bitcoin is like an avalanche- except that dollars are snow and bitcoin is the sun, the global economy is the mountainside, and banks and politicians are the trees. Allegations of bitcoin related terrorism will slow bitcoin adoption about as much as a tree slows an avalanche.


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Coinseeker
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August 18, 2013, 01:14:18 PM
 #9

Something on US soil would permanently kill Bitcoin, at least in the West.  It would be unpatrotic to use or accept BTC.  Banks would immediately block the money flow to and from, there would be sweeping, bi-partisan legislation.  All American allies would follow suit.  Price would collapse.  Mass adoption = DEAD

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August 18, 2013, 01:26:42 PM
 #10

bullshit, everyone knows that 911 and boston were staged terror attacks.

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August 18, 2013, 01:30:45 PM
 #11

It would explode



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thezerg
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August 18, 2013, 01:35:36 PM
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how about: every single organization and individual would be cooperative during the massive effort to backtrace the blockchain.  even anonymizers would fail because there would be enough resources to follow every path.  end result:  a complete sweepup of the terrorists AND its funding network.  but the damage to btc would be done...

yes Elwar you deserve the idiot award of the year.  9/11 first appeared in a tom clancy novel.  dont help these evil people in ANY way including doing their thinking for them by posting a possible soln to one of their problems in a public forum.  freedom requires responsibility.
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August 18, 2013, 01:48:25 PM
 #13

Elwar is an idiot because he speculates about this on a public forum..... of course terrorist couldn't think if this themselves. Paranoid Yanks strike again...
Mike Christ
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August 18, 2013, 01:52:40 PM
 #14

Elwar is an idiot because he speculates about this on a public forum..... of course terrorist couldn't think if this themselves. Paranoid Yanks strike again...

These are my sentiments; Elwar's one of the most intelligent members on this forum.  If governterrormentists couldn't come up with this, I'd be surprised if any of them dressed on their own each morning.  Isn't the whole point of terrorism, in the purview of government, to strike terror in the hearts of citizens?  If so,

yes Elwar you deserve the idiot award of the year.  9/11 first appeared in a tom clancy novel.  dont help these evil people in ANY way including doing their thinking for them by posting a possible soln to one of their problems in a public forum.  freedom requires responsibility.

Terrorists win!

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August 18, 2013, 02:27:09 PM
 #15

Elwar is an idiot because he speculates about this on a public forum..... of course terrorist couldn't think if this themselves. Paranoid Yanks strike again...

Really though, this is a Bitcoin Forum so a discussion on Terrorism really doesn't belong here. In addition, there are many people trying to kill bitcoin already, yet you gladly encourage this idiocracy?

I assume you are fairly intelligent yourself, so here's an analogy for you, Ivanhoe. What if i walked into a bank robbers house and tossed the blueprints to Bank Of America on the floor? Would it be any different?


No good can come of this discussion.



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August 18, 2013, 02:32:05 PM
 #16


No good can come of this discussion.


Agreed. This topic should be locked/deleted

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Ivanhoe
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August 18, 2013, 02:39:52 PM
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Elwar is an idiot because he speculates about this on a public forum..... of course terrorist couldn't think if this themselves. Paranoid Yanks strike again...

Really though, this is a Bitcoin Forum so a discussion on Terrorism really doesn't belong here. In addition, there are many people trying to kill bitcoin already, yet you gladly encourage this idiocracy?

I assume you are fairly intelligent yourself, so here's an analogy for you, Ivanhoe. What if i walked into a bank robbers house and tossed the blueprints to Bank Of America on the floor? Would it be any different?


No good can come of this discussion.



As you can see in the opening post of Elwar, he asks himself what it will do with the price of Bitcoin when it comes out that a terrorist attack has been funded with this currency. That question belongs in this subforum to my opinion. Although i have to admit it's not the strongest topic, because i think the possibility of this is low. That we are in a Bitcoin forum doesn't mean to me that we shouldn't discuss the possible negative effects of it.

btw why did you delete your other post in this topic?
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August 18, 2013, 02:41:11 PM
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Elwar is an idiot because he speculates about this on a public forum..... of course terrorist couldn't think if this themselves. Paranoid Yanks strike again...

Its a fascinating psychological phenomenon.  Many of these acts ARE copycat or inspired by media and literature.  Why are psychopaths not creative?  Someday brain analysis may tell us... of course it could simply be that most people are not creative so multiply the probabilities.  Also adding to that is that it is likely the environment is not conducive to technology...

Whatever the reason, as a society we are lucky that many of these people actually CAN'T think of it themselves.

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August 18, 2013, 03:03:11 PM
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Elwar is an idiot because he speculates about this on a public forum..... of course terrorist couldn't think if this themselves. Paranoid Yanks strike again...

Really though, this is a Bitcoin Forum so a discussion on Terrorism really doesn't belong here. In addition, there are many people trying to kill bitcoin already, yet you gladly encourage this idiocracy?

I assume you are fairly intelligent yourself, so here's an analogy for you, Ivanhoe. What if i walked into a bank robbers house and tossed the blueprints to Bank Of America on the floor? Would it be any different?


No good can come of this discussion.



As you can see in the opening post of Elwar, he asks himself what it will do with the price of Bitcoin when it comes out that a terrorist attack has been funded with this currency. That question belongs in this subforum to my opinion. Although i have to admit it's not the strongest topic, because i think the possibility of this is low. That we are in a Bitcoin forum doesn't mean to me that we shouldn't discuss the possible negative effects of it.

btw why did you delete your other post in this topic?

I'm sorry but i won't entertain this topic. You must understand why. No good can come of this discussion.

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Elwar
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August 18, 2013, 04:02:53 PM
 #20

I was only speculating on price. That is why I posted in the speculation forum. There have been several other threads about this topic in other subforums so it is not like I am giving any clue to terrorists. The media itself says Bitcoin is used to fund drugs and terrorists (however untrue that may be).

It is not a question of whether or not the USD has funded past attacks, they would point out that it is the anonymity of Bitcoin that allowed them to pull it off.

I agree that it is likely that the terrorists are not using Bitcoin as it still is mainly a computer geek currency, but our whole effort is to make it mainstream so that anyone can use it.

I think my personal opinion is that if the attack was 9/11 huge then I would trade my BTC for gold. If it was a Boston bombing type of size I would hold, maybe even buy into the short term panic.

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