Crypto is a poor form of money for terrorists.

[bitvelk]

It seems to me that it is much easier for criminals to use ordinary national money than to use bitcoin. Therefore, I think it is wrong to link cryptocurrency and criminals. It really spoils the image of bitcoin.

[pixie85]

It's interesting to see that crypto is not being utilized by terrorists.

I'm consistently surprised by how incompetent terrorists are. We'd all like to imagine that we're facing a silent threat of genius level people devoted to their religion and to the death of their enemies using every tool effectively to get to us.

But as it turns out, it's mostly just dumb people that don't represent a credible threat to anyone but themselves and their own countries. No wonder they are failing to use crypto.


Also, we have to be careful not to needlessly concede that terrorists using bitcoin is somehow a good argument against bitcoin. The same shit was said about the Internet when everyone in their media and the brain-dead followers were saying that the Internet is just a fad.

Let's be clear and painfully honest. Terrorists are a small niche among criminals. How many real terrorist attacks are there around the world? 2 Per year? What about Breivik? He was acting like a terrorist but he didn't use Bitcoin or any other money transfer method. He organized everything himself? What about that muslim who stole a truck and drove it into a crowd in Germany? He didn't need money.
Terrorists don't need to be able to send money anonymously to be able to perform their acts.

[Cherylstar86]

It's interesting to see that crypto is not being utilized by terrorists.

I'm consistently surprised by how incompetent terrorists are. We'd all like to imagine that we're facing a silent threat of genius level people devoted to their religion and to the death of their enemies using every tool effectively to get to us.

But as it turns out, it's mostly just dumb people that don't represent a credible threat to anyone but themselves and their own countries. No wonder they are failing to use crypto.


Also, we have to be careful not to needlessly concede that terrorists using bitcoin is somehow a good argument against bitcoin. The same shit was said about the Internet when everyone in their media and the brain-dead followers were saying that the Internet is just a fad.

Let's be clear and painfully honest. Terrorists are a small niche among criminals. How many real terrorist attacks are there around the world? 2 Per year? What about Breivik? He was acting like a terrorist but he didn't use Bitcoin or any other money transfer method. He organized everything himself? What about that muslim who stole a truck and drove it into a crowd in Germany? He didn't need money.
Terrorists don't need to be able to send money anonymously to be able to perform their acts.

These terrorism pertains to hackers who been doing their acts since bitcoin started, and I guess their motives is to steal people's money. It comes in any form of terrorism, but what we're in focus here right now was their actions towards crypto. They did use this crypto for their personal intentions, but their main purpose it to attack the crypto economy. If they do that they'll be trace because every crypto exchange will be course through banks.

[BTalarmus]

All Bitcoin transactions are very easy to track, so its use for criminal purposes is not a very smart task. There are more anonymous cryptocurrencies, but still there are traces when using them.

[Al-e_x]

Crypto is not suitable for jihadists who are fighting in the battlefield. but I think crypto is suitable for terrorists who master technology, a terrorist of hackers, like anonymous.

in my opinion, jihadists also have members who have master technology, even for the crypto world.

but, globally, jihadists get weapons by snatching from enemies.

[hubballi]

Crypto is not suitable for jihadists who are fighting in the battlefield. but I think crypto is suitable for terrorists who master technology, a terrorist of hackers, like anonymous.

in my opinion, jihadists also have members who have master technology, even for the crypto world.

but, globally, jihadists get weapons by snatching from enemies.

I think you are getting wrong, Jihadist and Terrorist are both same. Both have the motive to control the world and rule on their terms and conditions and for their transactions they are using crypto currency. But it is not that they only use cryptocurrency but even they are using precious metals to trade against weapons purchasing. So we cannot blame alone on cryptocurrency for its usage in illegal activities

[Reid]

Yeah they do deal with cash and it is in USD.
Are you even sure that they are the terrorist and not the US government?
You might want to look at that deeper.

About the crypto thing as a poor means for them. Actually it is the vice versa of it.
It could be the best way to transact without even knowing who the buyer is. Creepy. It may be the US who will buy it for them so that war wont stoo and cash will be coming continously.

[peacefulpeace]

cryptocurrency is barely a decade, and terrorism is an old as mankind itself, so cryptocurrency shouldn't be viewed as a means of financing terrorism because even before the emergence of cryptocurrency, terrorism has already been financed globally.

[poletando]

hmm, at the first time I think they use bitcoin and cryptocurrencies to send and receive the fund, because I think its not trackable and anonymous so the terrorist and bad people can use this for their main currency, they can send the fund across the country in fast and low fee than other platform,

[ansarose1]

yes i agree with this statement. since bitcoin is not a ready on cash to buy some stuffs, terrorist cannot be attached with cryptocurrency and they cant use it either. however if they use it as for online payments maybe they can use it, but not to buy some stuffs for their activity.

[Qurelal]

This is the main drawback of Bitcoin. I agree that state regulation is necessary. We ourselves give opportunities to be invisible to scammers and criminals.

[BQ]

monero for example is used a lot in illegal transactions, but the entire criminality business in the world is still of course ran by fiat money. crypto leaves people in control of their own money, as should be..

[authpaperICO]

Even without bitcoin, terrorists still get funded by other means. Cool hard cash is always the best way for bad guys to transfer money without government notice.
Bitcoin does not provide another layer of anonymous protection, because once investigators know your account, they can always get back all transaction history via blockexplorer.
I think the biggest reason why bad guys use bitcoin / or any cryptocurrencies is that the coins never collapse and allow cross-country network transfer. This unfortunately is the very reason why bitcoin is better than any other currencies.
It is not that bitcoin is helping the bad guys, it is just bitcoin system better serves their needs than USD.
What we should really consider is how to do anti-money laundering on bitcoin without harming its nature of decentralization. But that's really very hard.

[Shreek]

Cryptocurrency users are the largest in the United States, and if I digest your statement, cryptocurrency is the currency used by terrorists to buy goods, then why are you cornering Muslims, and you don't discuss why US has many cryptocurrency users, and why is bitcoin born from Japan?
if the cryptocurrency is really used by terrorists, it means that the country with the largest volume of transactions is likely to have terrorists who are transacting too

[Shresherya]

As we all know that crypto is digitalized market it is true that the terrorist never makes their purchase with cryptocurrency because everything is online based so it is not help them and the security of crypto world is far better than real currency market.

[tarable]

This is the main drawback of Bitcoin. I agree that state regulation is necessary. We ourselves give opportunities to be invisible to scammers and criminals.

actually the government regulation is needed, in order to maintain security in bitcoin transactions. the problem is that there are some bitcoin users who are evil and some are not. so sometimes those who do evil are very detrimental to many bitcoin users. especially if there are terrorists.

[Nnedaddy1]

It is alleged that most criminal activities such as money laundering, drug trafficking, terror sponsorship are carried out using cryptocurrency.
I understand this is so because it makes it convenient and easy, considering the fact that the funds will never be traced to them.

[kvipcn]

Enough of the comparison of crypto to terrorist activities. These kind of activities existed before the creation and the use of physical fiat. People needs to understand before spreading speculations about things they have little knowledge about. If you don't believe in the ideas behind cryptocurrency why join the community? I'm sick and tired of this kind of false speculations.

[yoseph]

Cryptocurrency users are the largest in the United States, and if I digest your statement, cryptocurrency is the currency used by terrorists to buy goods, then why are you cornering Muslims, and you don't discuss why US has many cryptocurrency users, and why is bitcoin born from Japan?
if the cryptocurrency is really used by terrorists, it means that the country with the largest volume of transactions is likely to have terrorists who are transacting too

If the USA have no control on the the people who uses cryptosmandatory what they are being used for, I think they would have banned it already without giving a second thought about its benefits,  that's why regulations are in place to curb the use of cryptocurrencies for terrorist activities.

[LeGaulois]

A poor is just a little exaggerated from the author. It's simply that they have no use of it. They make money with dollars and have dollars to use. Why should they bother to convert it. The same for you if you are paid in dollars. Why should you convert it to the SecondLife currency if you have no use of it (no merchants use it, no bill can be paid with,...). I can also take as an example, Zimbabwe dollars, oil, aluminum,...