Why Does the US Military Think Bitcoin Is a Terrorist Threat?

[Redtea]

It’s fascinating to watch Bitcoin evolve, as more players begin to understand the technology. Law enforcement, financial regulators, investors, big banks, Congress, and now the US military are all struggling to understand how Bitcoin and virtual currencies fit into our financial world of the future.

The only mildly disturbing entry into the Bitcoin world is the military, putting out bids to understand the role of virtual currencies in financing terror networks. Bitcoin Magazine discovered an unclassified memo that lists project funding for understanding cryptocurrencies and lists Bitcoin specifically. There are other government and law enforcement agencies working on understanding terrorist finances, and it’s hard to see the value in so many duplicate efforts. The core mission of the military is to be the best in the world at breaking things and killing people. The farther they stray from that core mission, the less desirable the outcome. Mission creep has rarely resulted in something good happening.

bitcoinYet the biggest threat to Bitcoin and virtual currencies doesn’t come from government or law enforcement; by far the more ominous threat to emerge is Wall Street. Big banks and electronic payment systems are studying the underlying technology of virtual currencies to see if public ledgers, like those used in Bitcoin, could have value in the financial services market. The answer to that question is most definitely “yes,” but that’s not really the question they’re trying to answer. What Wall Street wants to know is how it can implement the underlying technology to lower costs, while still maintaining its grip on the nation’s system of financial exchange.


 
Even Goldman Sachs believes the “blockchain” technology that underlies Bitcoin has commercial potential. The current money transfer system used by banks in the US is called the Automated Clearing House, or ACH network. ACH settles money transfers in business a day, an eternity in Internet time. That’s why it can take as long as three or four days to get money transferred from your PayPal account to your bank account. Bitcoin settles trades in minutes; and a newer variation of the blockchain technology, called Ripple, settles trades in seconds. All of those cryptocurrency transactions are carried out securely over public networks by systems that have no central authority.

There is even talk of banks using Bitcoin as a medium of exchange directly, but it seems more likely banks would develop their own digital currency for exchange, one that couldn’t be used in any other context.

It’s obvious by now that government is not going to be able to stop Bitcoin or other digital currencies. If the Chinese can’t stop digital currencies with a blanket prohibition, no one can. But Wall Street interests, working closely with the government regulators they’ve spent so much money shaping to their own benefit, represent a clear and viable threat to budding digital currency networks. Big money has the potential to corrupt the technology to its own devices, and then squash any would be competitors.

It’s not hard to imagine the outcome if Wall Street manages to reign in digital currency; just imagine what the Internet would look like today without net neutrality. Instead of an open and healthy marketplace, we would have a collection of Balkanized services controlled by a handful of players at the top. That’s why companies like AT&T, Verizon, and Comcast have all been so relentlessly attacking net neutrality and, until just recently, have been thwarted in those efforts.

Banks don’t like open markets or competition, and they’re not going to repeat the mistakes of history by letting competing technologies develop without challenge.


Sources:
http://redteanews.com/2014/05/07/why-does-the-us-military-think-bitcoin-is-a-terrorist-threat/#.U20i5PldXfI



-Redtea
Independent News for the Right-Minded American


redteanews.com

[1715607268]

1715607268

[1715607268]

1715607268

[Adrian-x]

To the OP question:

Terrorists are bullies who use violence or the fear of violence to coerce action.
Bullies who may lose fiat funding may feel threatened hence Bitcoin is defined as a terrorist threat from a certain perspective.

The irony is when terrorists buy in they pay a market premium and again when they sell out, terrorists are going to find more efficient ways to move money, or capitalist are going to milk them to death.

[bluemeanie1]

Why Does the US Military Think Afghanistan Is a Terrorist Threat?

-bm

[LostDutchman]

It’s fascinating to watch Bitcoin evolve, as more players begin to understand the technology. Law enforcement, financial regulators, investors, big banks, Congress, and now the US military are all struggling to understand how Bitcoin and virtual currencies fit into our financial world of the future.

The only mildly disturbing entry into the Bitcoin world is the military, putting out bids to understand the role of virtual currencies in financing terror networks. Bitcoin Magazine discovered an unclassified memo that lists project funding for understanding cryptocurrencies and lists Bitcoin specifically. There are other government and law enforcement agencies working on understanding terrorist finances, and it’s hard to see the value in so many duplicate efforts. The core mission of the military is to be the best in the world at breaking things and killing people. The farther they stray from that core mission, the less desirable the outcome. Mission creep has rarely resulted in something good happening.

bitcoinYet the biggest threat to Bitcoin and virtual currencies doesn’t come from government or law enforcement; by far the more ominous threat to emerge is Wall Street. Big banks and electronic payment systems are studying the underlying technology of virtual currencies to see if public ledgers, like those used in Bitcoin, could have value in the financial services market. The answer to that question is most definitely “yes,” but that’s not really the question they’re trying to answer. What Wall Street wants to know is how it can implement the underlying technology to lower costs, while still maintaining its grip on the nation’s system of financial exchange.


 
Even Goldman Sachs believes the “blockchain” technology that underlies Bitcoin has commercial potential. The current money transfer system used by banks in the US is called the Automated Clearing House, or ACH network. ACH settles money transfers in business a day, an eternity in Internet time. That’s why it can take as long as three or four days to get money transferred from your PayPal account to your bank account. Bitcoin settles trades in minutes; and a newer variation of the blockchain technology, called Ripple, settles trades in seconds. All of those cryptocurrency transactions are carried out securely over public networks by systems that have no central authority.

There is even talk of banks using Bitcoin as a medium of exchange directly, but it seems more likely banks would develop their own digital currency for exchange, one that couldn’t be used in any other context.

It’s obvious by now that government is not going to be able to stop Bitcoin or other digital currencies. If the Chinese can’t stop digital currencies with a blanket prohibition, no one can. But Wall Street interests, working closely with the government regulators they’ve spent so much money shaping to their own benefit, represent a clear and viable threat to budding digital currency networks. Big money has the potential to corrupt the technology to its own devices, and then squash any would be competitors.

It’s not hard to imagine the outcome if Wall Street manages to reign in digital currency; just imagine what the Internet would look like today without net neutrality. Instead of an open and healthy marketplace, we would have a collection of Balkanized services controlled by a handful of players at the top. That’s why companies like AT&T, Verizon, and Comcast have all been so relentlessly attacking net neutrality and, until just recently, have been thwarted in those efforts.

Banks don’t like open markets or competition, and they’re not going to repeat the mistakes of history by letting competing technologies develop without challenge.


Sources:
http://redteanews.com/2014/05/07/why-does-the-us-military-think-bitcoin-is-a-terrorist-threat/#.U20i5PldXfI



-Redtea
Independent News for the Right-Minded American


redteanews.com

The military mind thinks that mouldy bread is a terrorist threat.

[jc01480]

Why Does the US Military Think Afghanistan Is a Terrorist Threat?

-bm

Because anyone that cannot be controlled economically (i.e. sanctions) is a threat.  There aren't many banks in the suck.

[Beliathon]

Bitcoin isn't a "threat", it's a checkmate.

The game is over. Fiat lost.

[Light]

Because they think that Bitcoin's existence makes it easier for them to get funding and spend that to buy things to support their terrorist campaign. The problem is that they still and have always been using fiat do that...

[LostDutchman]

Bitcoin isn't a "threat", it's a checkmate.

The game is over. Fiat lost.

Nice.

[madmadmax]

Because if one day Bitcoin will actually become a threat they want to have a basis established in order to take it down to keep the party going.

All those Wallstreet jackasses are hooked on the dollar, they will send your kids to die in wars halfway across the world to impose dictators that would only sell the local natural resources in exchange to... you guessed it! USD!

You would be surprised at what draconian measures states are willing to take to keep the party going, there are limits imposed in India on how much gold, businessess, property etc you can own so you will keep all your life savings in the local currency with a 20% yearly inflation, people are buying Zynga Poker chips to store their life savings!

[Malin Keshar]

Everything for the US military is terrorist thread, even hello kitty must have something terrorist behind her, in the military's mind

If bitcoin starts to bother too much, they must have some pretext to constraint it

[leopard2]

No, the US Fed-Government mafia considers it a threat to their "mine USD at zero difficulty and use it to enslave everyone" scheme

Fed officials cannot make phone calls PBOC style so they need to come up with the usual memes

-crime&drug meme
-childporn meme
-terrorist meme

Communist meme does not work this time because Russia is against BTC too.

Meanwhile, they keep firing rockets from drones at weddings in Pakistan, to keep the terrorist meme alive. Duh!

[LostDutchman]

If you are a hammer, everything looks like a nail.

[franky1]

until a bomber has a trigger set to detonate on the receipt of a bitcoin transaction (imagine cell phone bombs)... then bitcoin is not a direct threat and cannot harm people.

"bitcoins don't kill people.. people do"

you cant blame terror activities on the money
you cant blame money activities on terror

[vipgelsi]

Because it's under the radar.

[Panpan66L]

until a bomber has a trigger set to detonate on the receipt of a bitcoin transaction (imagine cell phone bombs)... then bitcoin is not a direct threat and cannot harm people.

"bitcoins don't kill people.. people do"

you cant blame terror activities on the money
you cant blame money activities on terror

Indeed, we can't blame the hot food hurt your lips for your impatient.

[jc01480]

As we've been reading this thread they've printed n amount of dollars in paper.  I suspect there is a bigger motive than the US economic condition.  I can't quite articulate why this would be detrimental, or at least beneficial to the sanctions in Eastern Europe,  but my 'feelers' are up. 

Back to your regularly scheduled programming.

[Elwar]

The recent DoD news about looking into Bitcoin did not say that Bitcoin was a threat.

It was a call to action to investigate whether or not Bitcoin is a threat used by terrorists or not.

[LostDutchman]

The recent DoD news about looking into Bitcoin did not say that Bitcoin was a threat.

It was a call to action to investigate whether or not Bitcoin is a threat used by terrorists or not.

True but the implication so made is enough to turn much of the public against Bitcoin.

[justusranvier]

http://en.wikipedia.org/wiki/Wolfowitz_Doctrine

[makebitcoin]

People in Congress were lobbied by MasterCard against Bitcoin. At least that is what I read on Reddit. Maybe that has something to do with this.

[acs267]

I live in the U.S, so I know for a 100% percent fact, sometimes, the Law and Military are terrorists.

Why is it think that Bitcoin, clean compared to the U.S Dollar, is a threat? And not the very USD, that causes death, and chaos?

[LostDutchman]

I live in the U.S, so I know for a 100% percent fact, sometimes, the Law and Military are terrorists.

Why is it think that Bitcoin, clean compared to the U.S Dollar, is a threat? And not the very USD, that causes death, and chaos?

It is because the military and those "three-letter" agencies haven't figured out how to control crypto in the ways that they control fiat.

[professorXY]

The answer is quiet simple: military mind thinks that everything is a terrorist treat

[LostDutchman]

The answer is quiet simple: military mind thinks that everything is a terrorist treat

Right, especially that which it does not understand.

[kwukduck]

They don't think its a terrorist thread. They just feel the need to keep their monopoly on controlled money.

[LostDutchman]

They don't think its a terrorist thread. They just feel the need to keep their monopoly on controlled money.

Yeah, well put!

The "terrorist threat" is just a false flag.

[Oldiesel]

The US Military and Bankers are terrorists themselves!

[LostDutchman]

The US Military and Bankers are terrorists themselves!

Lots of truth to that!

[jc01480]

The military is told what to think.  Always.  Surely they have been ordered to investigate as a mean of terrorism.  The only terrorism I see is if my coins aren't in my wallet, I turn into a large deranged green monster.  At that point, I just might be a little teeny wee bit over the line of....terrorism.  But only for a moment. 

[phillipsjk]

It is simpler than that: terrorism is cheap. Anything of value can be considered a terrorist threat.

The Four Horsemen of the Infocalypse are approximately "drug-dealers, money-launderers, terrorists, and pedophiles."

When terrorist financing became illegal after 2001, the reporting thresholds banks need to comply with KYC laws were largely dropped. Terrorism is scary precisely because it is so cheap. I think we can expect to see Bitcoin funded terrorism within 5 years. Note: I am excluding "economic terrorism", which as far as I can tell, includes any successful boycott

[Beliathon]

PeopleOld white male millionaires in Congress were lobbied by MasterCard against Bitcoin.

FTFY. Sometimes it's important to be specific.

You must understand, the lobbyists and the congresspersons, they are of the same caste.

[maurya78]

The US military has to regard any novel technology as fundamentally manipulable by hostile elements
Par for the course, I guess that they would view btc thru a sceptical lens

[blatchcorn]

They are trying to drive the price down to pick up a few cheap coins

[Tatsumigaoka]

Because Mark Karpeles is literally Hitler I'd guess

[sana8410]

It’s fascinating to watch Bitcoin evolve, as more players begin to understand the technology. Law enforcement, financial regulators, investors, big banks, Congress, and now the US military are all struggling to understand how Bitcoin and virtual currencies fit into our financial world of the future.

The only mildly disturbing entry into the Bitcoin world is the military, putting out bids to understand the role of virtual currencies in financing terror networks. Bitcoin Magazine discovered an unclassified memo that lists project funding for understanding cryptocurrencies and lists Bitcoin specifically. There are other government and law enforcement agencies working on understanding terrorist finances, and it’s hard to see the value in so many duplicate efforts. The core mission of the military is to be the best in the world at breaking things and killing people. The farther they stray from that core mission, the less desirable the outcome. Mission creep has rarely resulted in something good happening.

bitcoinYet the biggest threat to Bitcoin and virtual currencies doesn’t come from government or law enforcement; by far the more ominous threat to emerge is Wall Street. Big banks and electronic payment systems are studying the underlying technology of virtual currencies to see if public ledgers, like those used in Bitcoin, could have value in the financial services market. The answer to that question is most definitely “yes,” but that’s not really the question they’re trying to answer. What Wall Street wants to know is how it can implement the underlying technology to lower costs, while still maintaining its grip on the nation’s system of financial exchange.


 
Even Goldman Sachs believes the “blockchain” technology that underlies Bitcoin has commercial potential. The current money transfer system used by banks in the US is called the Automated Clearing House, or ACH network. ACH settles money transfers in business a day, an eternity in Internet time. That’s why it can take as long as three or four days to get money transferred from your PayPal account to your bank account. Bitcoin settles trades in minutes; and a newer variation of the blockchain technology, called Ripple, settles trades in seconds. All of those cryptocurrency transactions are carried out securely over public networks by systems that have no central authority.

There is even talk of banks using Bitcoin as a medium of exchange directly, but it seems more likely banks would develop their own digital currency for exchange, one that couldn’t be used in any other context.

It’s obvious by now that government is not going to be able to stop Bitcoin or other digital currencies. If the Chinese can’t stop digital currencies with a blanket prohibition, no one can. But Wall Street interests, working closely with the government regulators they’ve spent so much money shaping to their own benefit, represent a clear and viable threat to budding digital currency networks. Big money has the potential to corrupt the technology to its own devices, and then squash any would be competitors.

It’s not hard to imagine the outcome if Wall Street manages to reign in digital currency; just imagine what the Internet would look like today without net neutrality. Instead of an open and healthy marketplace, we would have a collection of Balkanized services controlled by a handful of players at the top. That’s why companies like AT&T, Verizon, and Comcast have all been so relentlessly attacking net neutrality and, until just recently, have been thwarted in those efforts.

Banks don’t like open markets or competition, and they’re not going to repeat the mistakes of history by letting competing technologies develop without challenge.


Sources:
http://redteanews.com/2014/05/07/why-does-the-us-military-think-bitcoin-is-a-terrorist-threat/#.U20i5PldXfI



-Redtea
Independent News for the Right-Minded American


redteanews.com

Because bitcoin gives you anonymity,and that is something that the government and army can't control it,because they don't understand bitcoin,because the fear bitcoin!

[Bitcoinpro]

Bitcoin isn't a "threat", it's a checkmate.

The game is over. Fiat lost.

[Koko]

Time to invade Iran in search of Satoshi Nakamoto.

[Bees Brothers]

The answer to this question I think is best answered by the last line in the parable "The Emperors New Clothes"
http://www.andersen.sdu.dk/vaerk/hersholt/TheEmperorsNewClothes_e.html

"The Emperor shivered, for he suspected they were right. But he thought, "This procession has got to go on."
So he walked more proudly than ever, as his noblemen held high the train that wasn't there at all."

 

[hdbuck]

because bitcoin is funding Al Qaedaaaa 

no wait, that is the CIA..

[Beliathon]

In all seriousness, they're terrified by Bitcoin and they should be. The dawn of Cryptocurrency spells the end of the era of infinite pseudo-money printing for Military Industrial Complex war profiteers.

If you haven't already seen Bitcoin vs. Political Power, watch it. Watch it right now.

[JamesSchofield]

I dont think the US military thinks a lot of things through 

[Boris-The-Blade]

Some people will inevitably use Bitcoins for naughty things but it is much the same with cash.

[blackhull]

To answer the question in the title, I would imagine it's because if they don't understand it or how it could be used as a threat, then it could become one. If they do understand how it could be used against them, then it's much harder to use it against them. Most terrorism gets thwarted in the financial realm, in my opinion, so I can see why they would do this at least.

[shawshankinmate37927]

Time to invade Iran in search of Satoshi Nakamoto.

lol...

Yep, they'll try to convince the sheeple that Satoshi is the mastermind behind this plot to destroy America by creating an alternative to the dollar.

[counter]

The US Military are all about "order"  With order they feel they have control.  Bitcoin is not something that can be controlled and put in a box.  This scares them and they try to spread fear to others by using terms they know works like terrorism or terrorists.

[7queue]

Terrorist: A Slave that the Master Fears... 


8 )

[Bitcoinpro]

Why doesn't OP call Ryan Fisher and ask him

https://www.fbo.gov/index?s=opportunity&mode=form&id=dde16c3287e01f9c4e23cef3e1593b83&tab=core&tabmode=list&=

[counter]

Some people will inevitably use Bitcoins for naughty things but it is much the same with cash.

I man it is so much worse with cash if you ask me.  I've come to understand that cash is much more superior way to launder money and bitcoin and I don't know any local criminals and drug dealers that accept cash.  In my opinion cash is what the terrorists prefer over Bitcoins anyway.

[Slingshot]

RE:Why Does the US Military Think Bitcoin Is a Terrorist Threat?

 It doesn't. It's not.

 Pure FUD.



Bitcoin is Freedom.

[Este Nuno]

It's possible that it could be used by terrorists to transfer value around. But honestly at this point I highly doubt it, and I would expect most groups to have some sort of network between countries where they can exchange money. I know there is a massive non-terror related network for transferring money throughout the muslim world already.

[blackhull]

It's possible that it could be used by terrorists to transfer value around. But honestly at this point I highly doubt it, and I would expect most groups to have some sort of network between countries where they can exchange money. I know there is a massive non-terror related network for transferring money throughout the muslim world already.

You're thinking of something called a hawala network, and those are (probably) way more closely monitored by US intel than BTC currently is. I definitely understand why people are upset the US military is monitoring BTC, but at least it's really nothing more than par for the course. It doesn't seem like they have anything against BTC in particular, just kind of the idea of something unmonitored that can be used to launder money. And, by the way, preventing money laundering is one of the easiest and most effective ways of reducing terrorism. Just saying.

[justusranvier]

And, by the way, preventing money laundering is one of the easiest and most effective ways of reducing terrorism.

Only if you use intellectually dishonest definitions of "terrorism".

The terrorist organization which has harmed more innocent people than any other currently-existing organization in the world is the US DoD.

[LostDutchman]

You guys and dolls haven't yet figured out that all of this is only about government control, have you?

[Slingshot]

Ya think? No way. Say it ain't so Joe!

okay...

 Yes, the No Such Agency laid all the groundwork out for the very foundation of Bitcoin over the last two decades. Go ahead. Do your due diligence. It's all there. Plenty to fest your bright, wide open eyes over.

https://www.ixquick.com/
https://startpage.com/

 Who employs more Crypto Experts than everyone else combined? Bingo doesn't spell it's 3 letter nick name.

 And who exactly leads that Outfit? Yep, the Military. Officially or not their the likely ones. Get over it.

 We been played. Soon Our Masters Get Punked.

 It's all PR theater folks.

Get over it.


Bitcoin is The Future.

[Bit_Happy]

If you are a hammer, everything looks like a nail.

I have somehow never heard that before...pretty funny. 

Why Does the US Military Think Bitcoin Is a Terrorist Threat?
I'm not convinced they actually do consider BTC a legit Terrorist threat.
Almost anything that radically enhances personal freedom is eventually the target of propaganda. (i.e. The Internet, local militias, etc)

[keithers]

I don't think they really think that, they are just using the propaganda because all the negative PR they produced by claiming BTC was a safe haven for money laundering and buying drugs, was not that successful in squashing BTC.

They probably feel it is a slight threat because of how quickly and seamlessly you can move funds around the world to fund literally anything in an instant.

[LostDutchman]

If you are a hammer, everything looks like a nail.

I have somehow never heard that before...pretty funny. 

Why Does the US Military Think Bitcoin Is a Terrorist Threat?
I'm not convinced they actually do consider BTC a legit Terrorist threat.
Almost anything that radically enhances personal freedom is eventually the target of propaganda. (i.e. The Internet, local militias, etc)

It's sure true though!

[blackhull]

And, by the way, preventing money laundering is one of the easiest and most effective ways of reducing terrorism.

Only if you use intellectually dishonest definitions of "terrorism".

The terrorist organization which has harmed more innocent people than any other currently-existing organization in the world is the US DoD.

OK since I can already tell we probably won't find common ground, let's just use drug traffickers as a stand-in in the example.

[justusranvier]

OK since I can already tell we probably won't find common ground, let's just use drug traffickers as a stand-in in the example.

Well, ok, but the difference between the CIA and the military is really splitting hairs.

[ShakyhandsBTCer]

And, by the way, preventing money laundering is one of the easiest and most effective ways of reducing terrorism.

Only if you use intellectually dishonest definitions of "terrorism".

The terrorist organization which has harmed more innocent people than any other currently-existing organization in the world is the US DoD.

I would not agree with your statement, however the DoD does use a large amount of money every year. They get their funding from the US government.

A terrorist organization needs to be able to fund themselves

[Catmoonglow]

US Military to study USD as possible terrorist threat

[nwfella]

The military doesn't do any thinking...they do what they are told.  Who tells them what to do you may ask?  Follow the mostly worthless paper-trail.  Orders are handed down by government, government is owned by private central bankers...nuff said

[ShakyhandsBTCer]

The military doesn't do any thinking...they do what they are told.  Who tells them what to do you may ask?  Follow the mostly worthless paper-trail.  Orders are handed down by government, government is owned by private central bankers...nuff said

The government actually has influence over the central bankers.

Central banks should be independent but congress/the president could easily put influence on them. 

[cyberpinoy]

Bitcoin isn't a "threat", it's a checkmate.

The game is over. Fiat lost.

I could not say it in any better words.

Anything that can not be controlled by the US Government, or should I word it better by saying "can not be controlled by THE BIG BANKS/ WALLSTREET" is considered a terrorist and a threat. Case and point!!!

[unexecuted]

US Military to study USD as possible terrorist threat

US Military to food USD as possible terrorist threat

[Harley997]

Bitcoin isn't a "threat", it's a checkmate.

The game is over. Fiat lost.

I could not say it in any better words.

Anything that can not be controlled by the US Government, or should I word it better by saying "can not be controlled by THE BIG BANKS/ WALLSTREET" is considered a terrorist and a threat. Case and point!!!

bitcon can be very easily laundered, IMO I think that is the issue they are studying.

[BTCisthefuture]

I'd say lack of education. That's changing though.

I think more and more people are coming to realize that bitcoin isn't all that ideal for "terrorists" laundering money. Especially with new options popping up such as dark coin.

[Honeypot]

Lack of education about crypto in general and its implications, not to mention how US military operates, is ASTOUNDING.

US military has contingency plan for everything. They have a plan for potential viral outbreak to girl scout rebellions. I am not kidding.

If you think this 'bit coin is a terrorist threat' crap is anything more significant, either you are extremely naive or stupid enough to make this help you feel victimized - so you can continue to bitch and moan.

[Sniar]

Is it due to the reason that bitcoin can be use as money laudering to transfer money overseas faster ?  or is it because it's hard for the gov to track it ? 

IMO, I don't think it's a thread anyhow .

[perdomwx]

The title is somewhat misleading. The biggest threat mentioned by the article was the impact of Wall Street on Bitcoin or am I missing something?

[nwfella]

The military doesn't do any thinking...they do what they are told.  Who tells them what to do you may ask?  Follow the mostly worthless paper-trail.  Orders are handed down by government, government is owned by private central bankers...nuff said

The government actually has influence over the central bankers.

Central banks should be independent but congress/the president could easily put influence on them. 

Guess we will just have to agree to disagree on this one.  Personally I think it's entirely the other way around, he who controls the money-creation controls the guberment but hey, I'm no historian so I could be wrong.

[ajareselde]

It’s fascinating to watch Bitcoin evolve, as more players begin to understand the technology. Law enforcement, financial regulators, investors, big banks, Congress, and now the US military are all struggling to understand how Bitcoin and virtual currencies fit into our financial world of the future.

The only mildly disturbing entry into the Bitcoin world is the military, putting out bids to understand the role of virtual currencies in financing terror networks. Bitcoin Magazine discovered an unclassified memo that lists project funding for understanding cryptocurrencies and lists Bitcoin specifically. There are other government and law enforcement agencies working on understanding terrorist finances, and it’s hard to see the value in so many duplicate efforts. The core mission of the military is to be the best in the world at breaking things and killing people. The farther they stray from that core mission, the less desirable the outcome. Mission creep has rarely resulted in something good happening.

bitcoinYet the biggest threat to Bitcoin and virtual currencies doesn’t come from government or law enforcement; by far the more ominous threat to emerge is Wall Street. Big banks and electronic payment systems are studying the underlying technology of virtual currencies to see if public ledgers, like those used in Bitcoin, could have value in the financial services market. The answer to that question is most definitely “yes,” but that’s not really the question they’re trying to answer. What Wall Street wants to know is how it can implement the underlying technology to lower costs, while still maintaining its grip on the nation’s system of financial exchange.


 
Even Goldman Sachs believes the “blockchain” technology that underlies Bitcoin has commercial potential. The current money transfer system used by banks in the US is called the Automated Clearing House, or ACH network. ACH settles money transfers in business a day, an eternity in Internet time. That’s why it can take as long as three or four days to get money transferred from your PayPal account to your bank account. Bitcoin settles trades in minutes; and a newer variation of the blockchain technology, called Ripple, settles trades in seconds. All of those cryptocurrency transactions are carried out securely over public networks by systems that have no central authority.

There is even talk of banks using Bitcoin as a medium of exchange directly, but it seems more likely banks would develop their own digital currency for exchange, one that couldn’t be used in any other context.

It’s obvious by now that government is not going to be able to stop Bitcoin or other digital currencies. If the Chinese can’t stop digital currencies with a blanket prohibition, no one can. But Wall Street interests, working closely with the government regulators they’ve spent so much money shaping to their own benefit, represent a clear and viable threat to budding digital currency networks. Big money has the potential to corrupt the technology to its own devices, and then squash any would be competitors.

It’s not hard to imagine the outcome if Wall Street manages to reign in digital currency; just imagine what the Internet would look like today without net neutrality. Instead of an open and healthy marketplace, we would have a collection of Balkanized services controlled by a handful of players at the top. That’s why companies like AT&T, Verizon, and Comcast have all been so relentlessly attacking net neutrality and, until just recently, have been thwarted in those efforts.

Banks don’t like open markets or competition, and they’re not going to repeat the mistakes of history by letting competing technologies develop without challenge.


Sources:
http://redteanews.com/2014/05/07/why-does-the-us-military-think-bitcoin-is-a-terrorist-threat/#.U20i5PldXfI



-Redtea
Independent News for the Right-Minded American


redteanews.com

They dont, but using terms like "terroris" , "muslim" , "jihad" and so on echoes in public of sheeps pretty nicely.
They will use whatever term or connection to terrorism, to justify morality of any action they are about to make.
If you hear 2 terms , or objects over and over again, in a sentance togeather, after a while, you will passively connect the two, even if they have nothing incommon.

[Honeypot]

Sure are a lot of 'non-sheep' here in the forums.

Nothing is easier to manipulate than those who believe themselves free. Especially those who believe themselves better than others and most importantly, 'know' better than others.

[Beliathon]

Terrorists are bullies who use violence or the fear of violence to coerce action.
Bullies who may lose fiat funding may feel threatened hence Bitcoin is defined as a terrorist threat from a certain perspective.

Correct. Within every violent act, there is the threat of 1,000 more. Such is the power of coercion backed by violence! Along with indoctrination and mass-deception, the nation-state has us by the hearts, the minds, and the balls.

Listen, this species has no future if we continue down the path of violence. Our technology will soon take us to a place of total self-destruction. Ours will be a future governed by reason, or it will be total annihilation.

Now ditch your fucking fiat scrip (AKA murder-money) before its used to kill more innocents! "All power is down the barrel of a gun" -Mao

Related: Sunset of the state.

Anything that can not be controlled by the US Government, or should I word it better by saying "can not be controlled by THE BIG BANKS/ WALLSTREET" is considered a terrorist and a threat. Case and point!!!

I prefer, "USA, incorporated", as it really gets to the heart of the matter. The word "nation" is a total misnomer. The USA is a business - best understood as legitimized pyramid scheme that is every bit as vile, cruel, and unjust as ancient Rome.

"Civilization is based on a clearly defined and widely accepted yet often unarticulated hierarchy. Violence done by those higher on the hierarchy to those lower is nearly always invisible, that is, unnoticed. When it is noticed, it is fully rationalized. Violence done by those lower on the hierarchy to those higher is unthinkable, and when it does occur is regarded with shock, horror, and the fetishization of the victims."
-Derrick Jensen

[acs267]

Because they're getting paid in fiat. Crappy pay, but they obviously think Bitcoin is dirtier than fiat. Which is so untrue that it hurts.

[LostDutchman]

Terrorists are bullies who use violence or the fear of violence to coerce action.
Bullies who may lose fiat funding may feel threatened hence Bitcoin is defined as a terrorist threat from a certain perspective.

Correct. Within every violent act, there is the threat of 1,000 more. Such is the power of coercion backed by violence! Along with indoctrination and mass-deception, the nation-state has us by the hearts, the minds, and the balls.

Listen, this species has no future if we continue down the path of violence. Our technology will soon take us to a place of total self-destruction. Ours will be a future governed by reason, or it will be total annihilation.

Now ditch your fucking fiat scrip (AKA murder-money) before its used to kill more innocents! "All power is down the barrel of a gun" -Mao

Related: Sunset of the state.

Anything that can not be controlled by the US Government, or should I word it better by saying "can not be controlled by THE BIG BANKS/ WALLSTREET" is considered a terrorist and a threat. Case and point!!!

I prefer, "USA, incorporated", as it really gets to the heart of the matter. The word "nation" is a total misnomer. The USA is a business - best understood as legitimized pyramid scheme that is every bit as vile, cruel, and unjust as ancient Rome.

"Civilization is based on a clearly defined and widely accepted yet often unarticulated hierarchy. Violence done by those higher on the hierarchy to those lower is nearly always invisible, that is, unnoticed. When it is noticed, it is fully rationalized. Violence done by those lower on the hierarchy to those higher is unthinkable, and when it does occur is regarded with shock, horror, and the fetishization of the victims."
-Derrick Jensen

ALL countries are effectively a corporation of one kind or another.

Stop picking on the USA.

[Beliathon]

ALL countries are effectively a corporation of one kind or another.

Stop picking on the USA.

True though that may be, not all countries are hyper-violent military empires. I love reason and loathe violence, and I live in America. Ergo I consider it my ethical duty to speak out, lord knows my brainwashed fellow citizens ain't gonna.

Sorry if that causes cognitive dissonance for your indoctrinated little mind, but I'll pick on this travesty of a "nation" all I want. Look, if I lived in ancient Rome, I'd pick on Rome. I'd heckle the emperor until they put me to death. I don't. I live here, in this collapsing empire.

America sucks, get over it.



Now sit down, shut up, and start taking notes. I'm trying to save your life and the lives of your children.

[LostDutchman]

ALL countries are effectively a corporation of one kind or another.

Stop picking on the USA.

True though that may be, not all countries are hyper-violent military empires. I love reason and loathe violence, and I live in America. Ergo I consider it my ethical duty to speak out, lord knows my brainwashed fellow citizens ain't gonna.

Sorry if that causes cognitive dissonance for your indoctrinated little mind, but I'll pick on this travesty of a "nation" all I want. Look, if I lived in ancient Rome, I'd pick on Rome. I'd heckle the emperor until they put me to death. I don't. I live here, in this collapsing empire.

America sucks, get over it.

"America sucks, get over it."

Then why do you not GTFO?

[Beliathon]

"America sucks, get over it."

Then why do you not GTFO?

Now where have I heard this dimwitted, redneck, brainwashed horseshit argument before?

Ahh yes, right here. You're in way over your head, in case you haven't figured it out by now.

[LostDutchman]

"America sucks, get over it."

Then why do you not GTFO?

Now where have I heard this dimwitted, redneck, brainwashed horseshit argument before?

Ahh yes, right here. You're in way over your head, in case you haven't figured it out by now.

Beli, Baby!

There are ways around all this and as Bitcoiners learn and come to beleive that the government really is after them, they will seek out guys like me.

By the way, are you a US citizen?

Just askin'.

[Beliathon]

By the way, are you a US citizen?

I am a citizen of the world, and I am ever watchful. Corporate neo-fascism will not come to pass, not while I draw breath. Wake up, capitalism is not your friend. Capitalism is no one's friend.

“The strategic adversary is fascism... the fascism in us all, in our heads and in our everyday behavior, the fascism that causes us to love power, to desire the very thing that dominates and exploits us.”
-Michel Foucault

[Harley997]

"America sucks, get over it."

Then why do you not GTFO?

Now where have I heard this dimwitted, redneck, brainwashed horseshit argument before?

Ahh yes, right here. You're in way over your head, in case you haven't figured it out by now.

A large amount of the US's spending is protecting other country's interests and attempting to prevent war from outbreaking

[LostDutchman]

By the way, are you a US citizen?

I am a citizen of the world, and I am ever watchful. Corporate neo-fascism will not come to pass, not while I draw breath. Wake up, capitalism is not your friend. Capitalism is no one's friend.

“The strategic adversary is fascism... the fascism in us all, in our heads and in our everyday behavior, the fascism that causes us to love power, to desire the very thing that dominates and exploits us.”
-Michel Foucault

That's what I thought.

Living in the USA, sucking up the benefits of doing so....................................

[Beliathon]

Living in the USA, sucking up the benefits of doing so...

Benefits, such as post-traumatic stress disorder ? Surviving a suicidal depression or two? My existence has been suffering for most of my young life. Yeah, thanks 'murica. Good lookin' out.

[LostDutchman]

Living in the USA, sucking up the benefits of doing so...

Benefits, such as post-traumatic stress disorder ? Surviving a suicidal depression or two? My existence has been suffering for most of my young life. Yeah, thanks 'murica. Good lookin' out.

Beliathon, if indeed you experience these conditions you have my concern and support and you should know that I have more than a passing familiarity with both of them.

If, as I suspect, I am more than a bit older than yourself, I can tell you that many years ago I saw some of the things that you see now and blamed the government, the city, the law, the local baker, the police, the neighbourhood market and the very Earth on which I trod.

One day, it hit me that things were the way that they were and there was not a damned thing that I could do about it and that it was time to throw off the chains.

There is help and treatment available for the conditions that you describe and you should avail yourself of them.

You will find little help on this forum but you can find real-world help and you should do so immediately.

You are a smart guy and we agree on many things and I'd even like to sit down with you over a drink or tow but you have to start geting on with your life in a constructive manner or you will shrivel like a plant in a drought.

Hang in there.