Crypto is a poor form of money for terrorists.

[DarkVampire]

Good thinking. But they will be find alternative way and if they will be able used to with crypto then they will have a opportunity to transect crypto. Nobody can't be monitoring them because of the advantage of decentralization.

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[Hydroid]

That's not major issue but it's really good attempts to prevent terorism. But crypto have some negative point too because many criminals use crypto for their exchange for their crime.

[Brutea]

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.

[Vickyrichy]

I always get sad when people spread this kind of false speculations about cryptocurrency. Terrorists activities existed long before Satoshi even thought of creating bitcoin and blockchain technology.  Please lets stop this kind of speculations

[drm]

Crypto is a poor form of money for jihadists because they usually need to purchase goods with cash often in areas with unreliable technology.

According to this Forbes article

So they don't have computers, bitcoin merchants, fibre optics or 4G coverage in the dusty dessert or hideout hills.

According to Yaya Fanusie, director of analysis for the Foundation For Defense of Democracies Center on Sanctions and Illicit Finance: “Cold hard cash is still king"

So will they ban cash to prevent terrorism ? That would be some good hype to get the next bull run started !

No no ofcourse not, only crypto is used for terrorism.
Cash, cars, knifes, cellphones, computers etc are all fine and are never used for terrorism.

[BitcArchi8]

its a currency,and open currency what can you expect?People now adays will always find a way to do their own thing illegal or legal.In terms of money everyone has a freedom where to spend it but some people  tends to use it illegaly and get penalized by it,that is the problem with bitcoin it is being abused by terrorist and that is the main reason why government cant let bitcoin go in in the industry

I think that we will never be able to get rid of scammers, they have always existed and will continue to exist. Especially in such a profitable sphere as the crypto currency. Nobody will miss the opportunity to make a good profit illegally

[BlockchainGod]

Bitcoin is bad for terrorists simply because it is difficult for them to pay on the street. Few people accept bitcoin for trading and therefore terrorists use cash.

[Stephen.88]

I have a little idea on this. I agree with you because it is open market. I think people should be careful about terrorism. In my opinion, the code is not suitable for terrorist activities. Some people believe that passwords are used for illegal transactions because of this kind of news. If they do not have any knowledge of using it, they will not use it successfully.

[tegarp90]

Crypto is a poor form of money for jihadists because they usually need to purchase goods with cash often in areas with unreliable technology.

According to this Forbes article

So they don't have computers, bitcoin merchants, fibre optics or 4G coverage in the dusty dessert or hideout hills.

According to Yaya Fanusie, director of analysis for the Foundation For Defense of Democracies Center on Sanctions and Illicit Finance: “Cold hard cash is still king"

So will they ban cash to prevent terrorism ? That would be some good hype to get the next bull run started !

According to the Forbes article a group called Mujahideen Shura Council (MSC) in the Environs of Jerusalem - was able to lure only two contributions for a total of a little over $500 in weeks of a 2016 online campaign. MSC sounds like a Microsoft certification. Perhaps the contributions were accidental and two suckers are still waiting for their online courses.

So not only is it terrible to use for the terrorists - their supporters appear to be crypto broke too.

Sounds like a business opportunity for a gun dealer to accept jihad coin. Make sure to use escrow. You cannot trust terrorists.

This is one of the reason why not many country legalize and promote crypto.
Many crypto used for crime and no one can detect it. that's the special thing about crypto

[jerrison]

i strongly disagree with the said topic as the crypto space is open for all to harness, the crypto protocol does not care about what or who is a user of the technology but gives equal rights to all and it has no limits as to what magnitude of transaction can be carried out on it so it is no form of poor money as
said above.

[Sam San]

I also think that cryptocurrency and bitcoin in particular, on the contrary, can contribute to security, just need a reliable thoughtful regulation of their use.And terrorism must be confronted by the whole world.

[matthewoz101]

This is the same old news. I believe the media has finally realized they milked this one too hard. Maybe it's a signal that the media is out of bear news and bullish news will start flooding in nonstop?

[Lorin]

Its a good thing that terrorists may hard to used crypto for illegal but other criminals used it for for their illegal transactions thats why different issues about it are coming out because of them.  How can be sure that terrorists cannot be used crypto for terrorism, were in the world of high technology, everything can be done easily and freely.

[oceantiger]

Thanks for these write up and the information there in. One the reasons why some government are after bitcoin is that it is used to fund terror because of its anonymity structure but with the research by Forbes as contained in the write up is bringing to fore that in the desert the terrorist has no facility to mine bitcoin to fund their wickedness. Governments should look dipper to find the link for the terrorist funding and cut it off to starve them of fund and major source of their arms and leave bitcoin alone.

[djselery]

Definitely, I always believed that terrorists used the fiat currencies and cash a lot more than using cryptocurrencies. Terrorists usually to complete their transactions and deals fastly, and we all know that dealing with cryptocurrencies need waiting and time. In addition, they will need always to convert their crypto money into cash and fiat.

[omorfi]

Ethereum and other smart contract compatible blockchain's based technology may be a good method for use as ESCROW. I hope we will see more advanced smart contract technologies in the future.

[peacefulpeace]

Terrorism has been here with mankind, long before crypto currency came to be, if you would remember the 9/11 attack on the world trade centre and the pentagon, by the notorious al qada, i dont think they were financed by crypto back then, so the bottom line is crypto currency is not a means to finance terrorist.

[bitbunnny]

Unfortunately, terrorists are always one step ahead. If you cut them one source of finances they will find another. They are so dedicated to their dirty goal that they are ready for everything to achieve it.
They are always trying to find new sources and inovative technologies including cryptocurrencies are not foreign to them. Beleive me, they have explored all the ways how to misuse everything that is available to them and cryptocurrencies are not exception.

[mrcash02]

I don't want to stay against Bitcoin or to blame it, but it's a fact terrorists can benefit themselves from Crypto, no doubts about it. It's true they can't buy useful necessary items with Crypto-Currency, but it's a smart way to send money abroad, to fund allied countries and friends. It can work like a parallel financial market operated by criminals from different countries. Not impossible to be tracked and discovered by skilled intelligence agencies anyway.

[ErikLarsen1976]

i think bitcoin would be a good solution