Ukraine 'to Crackdown on Separatist Bitcoin Accounts'

[pawel7777]

http://www.coindesk.com/ukraine-to-crackdown-on-separatist-bitcoin-accounts/

Nalyvaychenko noted:


"The financing of terrorism in the territory of Ukraine is carried out not only by the cash coming from Russia, but also through attempts to make money through electronic systems [...] we will work to block cards and bitcoin accounts being used by the separatists."

What is bitcoin account? Where can I get one?

Sounds like just another strange statement from Ukrainian security service and I sense Mr Nalyvaychenko doesn't have a clue what he's talking about.

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[pedrog]

Another market for bitcoin, war financing, and this is a huge market...

Well, it's already used to enable gun black markets in the darknet, it's just a small step for war financing, bitcoin is becoming a true currency.

[Snipe85]

Drugs, gambling, guns, ISIS and now Ukrainian protesters. Bitcoin is surely becoming more and more popular.
Even if by accounts they mean their addresses, I wonder how they are planning to block these. Jam their internet access? It's funny that these government services can't afford to hire an expert to at least use the proper terminology.

[Robert Paulson]

oh no, they will arrest the CEO of bitcoin!

[Wendigo]

How does he know which bitcoin accounts are being used by the separatists? Maybe he meant to say bitcoin wallets at an exchange or something.

[pawel7777]

How does he know which bitcoin accounts are being used by the separatists? Maybe he meant to say bitcoin wallets at an exchange or something.

If he meant exchanges, then blocking separatists' bank accounts would do the trick.

Truth is he probably have a very limited idea on how Bitcoin works and all his knowledge comes from reading headlines in newspapers. I'm guessing he just threw in word 'Bitcoin' to make him look like he's up to date with current trends and technology etc.

The Ukraine government are just CIA's puppets, so they don't even try to look smart and do any research before making public statements. On the other side you have separatists controlled by Russia. It's not fun to live in Ukraine right now.

[Daniel91]

Another market for bitcoin, war financing, and this is a huge market...

Well, it's already used to enable gun black markets in the darknet, it's just a small step for war financing, bitcoin is becoming a true currency.

I do not think bitcoin should move in that direction.
Such development can damage the reputation and credibility of Bitcoin.
If this happen, I don't think we will be able to attract many more users or merchants to start using BTC.

[leopard2]

oh no, they will arrest the CEO of bitcoin!

No they will shut down the magical internet!  


Hilarious how Russia and Ukraine are both against Bitcoin 

[pedrog]

Another market for bitcoin, war financing, and this is a huge market...

Well, it's already used to enable gun black markets in the darknet, it's just a small step for war financing, bitcoin is becoming a true currency.

I do not think bitcoin should move in that direction.
Such development can damage the reputation and credibility of Bitcoin.
If this happen, I don't think we will be able to attract many more users or merchants to start using BTC.

There's nothing anyone can do, bitcoin is like cash, it will change hands regardless you like or not the kind of business it is being done.

[bryant.coleman]

Hmm.... good publicity from Nalyvaychenko & Co. But unfortunately, he doesn't know WTF he is talking about. The Ukrainian government can't stop the rebels from accepting BTC, unless they jail all of them and block internet access. That is what Bitcoin is all about.

[Hazir]

Hmm.... good publicity from Nalyvaychenko & Co. But unfortunately, he doesn't know WTF he is talking about. The Ukrainian government can't stop the rebels from accepting BTC, unless they jail all of them and block internet access. That is what Bitcoin is all about.

No wonder ukrainian rebels do as they want to without much problem really. Ukrainian government is incompetent if they even don't know how bitcoin works I wonder what other idiotic things they do/say. I guess they can't even block normal bank account of these rebels not to mention any cryptocurrency services.

[tadakaluri]

How can they find terrorist links to a Bitcoin wallet?

[bryant.coleman]

I guess they can't even block normal bank account of these rebels not to mention any cryptocurrency services.

Actually they tried to force an economic blockade of the rebel territory. The rebels responded by replacing the Hryvnia with Russian Ruble, and by selling their coal to Russian buyers. This weakened the Hryvnia, and the Ukrainian power stations are left without any coal to burn.

[bronan]

Its so darn funny that people seems to believe that the ones fighting on the streets are using btc....
THEY DON'T, the ones using it are the leaders who are hiding in nice places withou any risk with everything at hand....
And i am sure its indeed pretty impossible to stop crypto coins being used by criminals its the best way to hide their money.

[Hazir]

Its so darn funny that people seems to believe that the ones fighting on the streets are using btc....
THEY DON'T, the ones using it are the leaders who are hiding in nice places withou any risk with everything at hand....
And i am sure its indeed pretty impossible to stop crypto coins being used by criminals its the best way to hide their money.

That is true. Maybe like less than 1% of rebels have access to bitcon - so that statement of Ukrainian government has no basis in reality. And maybe like
1%-3% (or even less) of all funds of rebels are bitcoin related. But publicity stunt is real.

[bitboy11]

Ukraine will surely lose this battle...
They may be able to block a few of the accounts but the vast majority will escape undetected.
Just more wishful thinking from these egomaniac countries.

[pawel7777]

Ukraine will surely lose this battle...
They may be able to block a few of the accounts but the vast majority will escape undetected.
Just more wishful thinking from these egomaniac countries.

There's no battle. As bryant.coleman wrote, the rebels switched to Russian ruble and do not depend on Ukrainian banks.

The only ones who will probably get hit are Ukrainian (non-separatist) bitcoin users:

In the meantime, Reddit users have fuelled speculation that Ukranian exchange website BTCTrade.com.ua may be inaccessible to domestic Internet users.

Confirmation, which has been loosely translated, came via Twitter: "We are under suspicion by Privatbank. We apologise for temporarily suspending payouts in Hryvnia."

[Amph]

http://www.coindesk.com/ukraine-to-crackdown-on-separatist-bitcoin-accounts/

Nalyvaychenko noted:


"The financing of terrorism in the territory of Ukraine is carried out not only by the cash coming from Russia, but also through attempts to make money through electronic systems [...] we will work to block cards and bitcoin accounts being used by the separatists."

What is bitcoin account? Where can I get one?

Sounds like just another strange statement from Ukrainian security service and I sense Mr Nalyvaychenko doesn't have a clue what he's talking about.

they mean bank account, exchange stuff related, i doubt they are talking about tracking wallet and address

anyway this is the usual "terrorist" news, to instill fear in people, not much will change

[pawel7777]

they mean bank account, exchange stuff related, i doubt they are talking about tracking wallet and address

anyway this is the usual "terrorist" news, to instill fear in people, not much will change

But that wouldn't make any sense. If you block individual's bank account(s) he won't be able to trade on the exchange. 'Problem' solved, no need to even mention bitcoin or anything else.

So either Nalyvaychenko is just talking random BS in attempt to look smart (like he has a good grasp in current technology), or maybe it's just an excuse to attack local bitcoin exchange(s), for whatever reason.

[Snail2]

Actually they tried to force an economic blockade of the rebel territory. The rebels responded by replacing the Hryvnia with Russian Ruble, and by selling their coal to Russian buyers. This weakened the Hryvnia, and the Ukrainian power stations are left without any coal to burn.

Actually they are buying coal from Russia .