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Eh, the islamic state and the likes of them dont need a bitcoin. They allready have the islamic informal banking system, which is basically - "I entrust you thi
by Pica_soO 10y ago
Eh, the islamic state and the likes of them dont need a bitcoin. They allready have the islamic informal banking system, which is basically - "I entrust you this money, my cousin in this or that place can withdraw that money from your family"
https://en.wikipedia.org/wiki/Hawala https://en.wikipedia.org/wiki/Hawala
Its very hard to track and certainly non-human SIGINT proof. If anyone on the planet wants those guys to pick up a systematic trackable crypto-currency, its the secrect services.
- riprowan 10y agoYou should consider by how much bitcoin or some similar crypto could strengthen the Hawala system. It's a marriage made in heaven.
- Pica_soO 10y agoThe really troubling property from a secret service point of view of this whole system is, that there is no interest in Islamic banking. Thus, you can not derive from the nature of transfers, whether they are business related. Business related deposits would usually aggregate where the most interest can be gained. Thus unmoving fortunes become "suspicious". In addition, this system partially prevents the usual corrupt bankers, letting unguarded illegitimate or frozen "fortunes" vanish. There are no courts for dictator money lost during a government upheaval. Of course this is idealizing the thrust-persons.
- deleted 10y ago[deleted]