Iraqi miliatants stole 400 million $, could have been saved with bitcoin!

[cuddaloreappu]

The terrorist group islamic state of iraq and syria just stole 400 million USD just few days ago to become the world's richest terrorist group.

With all these money they are going to make the world a even more dangerous place.The cash they stole is difficult to trace if they are old cash notes.

But this would have not happened if the banks have converted all the money into bitcoin and had the private keys encrypted..even if stolen money is super traceable with blockchain.

Just one more reason of how bitcoin could truly help the world become a better place.

[bryant.coleman]

No. I don't think so. The militants would have taken the bank officials hostage, and they would have then demanded the private keys them. And if that happens, the money is gone for ever. I could never be recovered.

[niothor]

But this would have not happened if the banks have converted all the money into bitcoin and had the private keys encrypted..even if stolen money is super traceable with blockchain.

Just one more reason of how bitcoin could truly help the world become a better place.

[Mayuyu48]

if you are director of that bank, and terrorist put AK-47 in your head. and they give you two options : tell them private keys or they will shoot you.
which one do you choose? give them private keys and hope they don't kill you
or die

[Lauda]

No. I don't think so. The militants would have taken the bank officials hostage, and they would have then demanded the private keys them. And if that happens, the money is gone for ever. I could never be recovered.

You're implying that they know what a private key is.

[bizzel]

No. I don't think so. The militants would have taken the bank officials hostage, and they would have then demanded the private keys them. And if that happens, the money is gone for ever. I could never be recovered.

You're implying that they know what a private key is.

You're implying that they don't know what a private key is.

OP's logic is flawed.

[Meuh6879]

US print 50 milliard per month.
what is the terrorist in this history ?

[Lauda]

You're implying that they don't know what a private key is.

OP's logic is flawed.

I highly doubt that most people who hold Bitcoins know what that is.

[zeetubes]

To be honest, who gives a flying fuck? The US goes into Iraq and kills 600,000 people because people from another country altogether flew planes into the WTC. Sounds like genocide to me but no one from the bush administration is in jail yet. ISIS may be a better option for that region.

[Mayuyu48]

US print 50 milliard per month.
what is the terrorist in this history ?

they printed out money and use it to fool us
we have to work everyday (in work day) just for get "printed paper" from them
WTF central bank and international banking system who run world economic system 

To be honest, who gives a flying fuck? The US goes into Iraq and kills 600,000 people because people from another country altogether flew planes into the WTC. Sounds like genocide to me but no one from the bush administration is in jail yet. ISIS may be a better option for that region.

yeah bush administration are fucker!
they said saddan & iraq have WMD, but untiil war was end, no WMD found
they just want iraq oil 

[yatsey87]

How did they exactly steal all that money? I don't get it.

But this would have not happened if the banks have converted all the money into bitcoin and had the private keys encrypted..even if stolen money is super traceable with blockchain.

Just one more reason of how bitcoin could truly help the world become a better place.

Yeah, this is exactly what would happen. Safer if you've not got access to the person who's money you're trying to steal, but torture or the threat of death will get it out of them.

[lihuajkl]

US print 50 milliard per month.
what is the terrorist in this history ?

they printed out money and use it to fool us
we have to work everyday (in work day) just for get "printed paper" from them
WTF central bank and international banking system who run world economic system 

To be honest, who gives a flying fuck? The US goes into Iraq and kills 600,000 people because people from another country altogether flew planes into the WTC. Sounds like genocide to me but no one from the bush administration is in jail yet. ISIS may be a better option for that region.

yeah bush administration are fucker!
they said saddan & iraq have WMD, but untiil war was end, no WMD found
they just want iraq oil 

They keep printing money to pay debt for war. Launching a war also needs an excuse.

[Este Nuno]

But this would have not happened if the banks have converted all the money into bitcoin and had the private keys encrypted..even if stolen money is super traceable with blockchain.

Just one more reason of how bitcoin could truly help the world become a better place.

For this it seems like a good solution would be m of n to protect the btc. And not have the people in the same place at the same time. Thus if they capture one torturing them would be futile.

[thecoindoctor]

The terrorist group islamic state of iraq and syria just stole 400 million USD just few days ago to become the world's richest terrorist group.

With all these money they are going to make the world a even more dangerous place.The cash they stole is difficult to trace if they are old cash notes.

But this would have not happened if the banks have converted all the money into bitcoin and had the private keys encrypted..even if stolen money is super traceable with blockchain.

Just one more reason of how bitcoin could truly help the world become a better place.

Is there a link to back this statement up? plz post if so

[jjc326]

But this would have not happened if the banks have converted all the money into bitcoin and had the private keys encrypted..even if stolen money is super traceable with blockchain.

Just one more reason of how bitcoin could truly help the world become a better place.

For this it seems like a good solution would be m of n to protect the btc. And not have the people in the same place at the same time. Thus if they capture one torturing them would be futile.

Futile for the terrorist, but the person being tortured would still die because they don't have the information.  So, that doesn't really help. 

OP, in this exact instance you might be right, but how many people have been scammed or lost BTC basically BECAUSE IT'S BTC, and if it was cash they wouldn't have lost it or been scammed?  So there are ways to lose BTC and dollars, just maybe slightly different ways

[beetcoin]

their immediate interests are within iraq.. i say let them do as they please. it does not involve us.

[BitCoinDream]

But this would have not happened if the banks have converted all the money into bitcoin and had the private keys encrypted..even if stolen money is super traceable with blockchain.

Just one more reason of how bitcoin could truly help the world become a better place.

I like uR toon ....this is so real. SHA256 cant stop a wrench attack

[nwfella]

ak-47 to the head by some Isis fanatic...oh I'd be giving up the private keys with a quickness.

[bitsmichel]

ak-47 to the head by some Isis fanatic...oh I'd be giving up the private keys with a quickness.

I think, if it was for bitcoin, it would have been transferred out of the region before they were even close. I mean, bitcoin has that power after all: you can send money from Iraq to Australia within a few minutes. But I'm not sure about Iraq's internet connectivity?

[Este Nuno]

But this would have not happened if the banks have converted all the money into bitcoin and had the private keys encrypted..even if stolen money is super traceable with blockchain.

Just one more reason of how bitcoin could truly help the world become a better place.

For this it seems like a good solution would be m of n to protect the btc. And not have the people in the same place at the same time. Thus if they capture one torturing them would be futile.

Futile for the terrorist, but the person being tortured would still die because they don't have the information.  So, that doesn't really help. 

OP, in this exact instance you might be right, but how many people have been scammed or lost BTC basically BECAUSE IT'S BTC, and if it was cash they wouldn't have lost it or been scammed?  So there are ways to lose BTC and dollars, just maybe slightly different ways

Yeah, I agree. Bitcoin opens up lots of new opportunities for criminals. It's a dream currency for criminals. But there's nothing we can realistically do about it.