4 ms·

Is there any evidence of Bitcoin being used by terrorist groups? Wouldn't that be a terrible idea for the terrorists?

by tfha 9y ago

tanilama 9y ago
It has been used for ransoming such as HBO's case.
mirimir 9y ago
I have no idea. But it's a great way to get relatively anonymous donations. At least, if you educate your donors to mix first. Also, properly mixed Bitcoin is great for anonymously leasing VPN services and servers, and for buying fake Facebook etc accounts, which are all useful for advocacy. And maybe black-market arms dealers accept Bitcoin now.
rothbardrand 9y ago
Yes, it is a terrible idea for terrorists. And currently, bitcoin is too hard to use for terrorists or most criminals. You have to be relatively sophisticated. Yah, you may have gotten your grandma a wallet, but that's not the same as mastering the level of opsec to fund a clandestine organization using cryptocurrencies... And further, since every transaction is recorded forever in the blockchain if any future address is compromised, the entire network can be compromised instantaneously.... Bitcoin is really worse for terrorist financing than good old USD. And we "lost" trillions of USD on Pallets in the Iraq and Afghanistan wars.
- sophont42 9y ago
  Yep, and Obama’s shipped a pallet directly to a state sponsor of terror. Why use BTC?
CryptoPunk 9y ago
Good digital currency will be useful to terrorists just as a good internet is. But just as the internet creates a more connected and prosperous world that reduces conflict and terrorism overall, so will digital currency. Also, it reduces the threats posed by governments against their own people. Government repression, like that seen in Venezuela or for a more extreme example, North Korea, can kill far more people than non-state terrorism, and tools that empower individuals help resist that.
ringaroundthetx 9y ago
It’s it about bitcoin as Monero wouldn’t be a terrible idea though, another digital currency But attempting financial sanctions as a way to deter use? That will be a waste of everyone’s time and money One idea is if digital currencies get big enough then it will accelerate the insolvency of the state from its obligatory attempts to curb use. Far fetched now, less far fetched than a year ago

Is there any evidence of Bitcoin being used by terrorist groups? Wouldn't that be a terrible idea for the terrorists?

by tfha 9y ago

Is there any evidence of Bitcoin being used by terrorist groups? Wouldn't that be a terrible idea for the terrorists?

tanilama 9y ago

It has been used for ransoming such as HBO's case.

mirimir 9y ago

I have no idea. But it's a great way to get relatively anonymous donations. At least, if you educate your donors to mix first. Also, properly mixed Bitcoin is great for anonymously leasing VPN services and servers, and for buying fake Facebook etc accounts, which are all useful for advocacy. And maybe black-market arms dealers accept Bitcoin now.

rothbardrand 9y ago

Yes, it is a terrible idea for terrorists. And currently, bitcoin is too hard to use for terrorists or most criminals. You have to be relatively sophisticated. Yah, you may have gotten your grandma a wallet, but that's not the same as mastering the level of opsec to fund a clandestine organization using cryptocurrencies... And further, since every transaction is recorded forever in the blockchain if any future address is compromised, the entire network can be compromised instantaneously.... Bitcoin is really worse for terrorist financing than good old USD. And we "lost" trillions of USD on Pallets in the Iraq and Afghanistan wars.

sophont42 9y ago
Yep, and Obama’s shipped a pallet directly to a state sponsor of terror. Why use BTC?

CryptoPunk 9y ago

Good digital currency will be useful to terrorists just as a good internet is. But just as the internet creates a more connected and prosperous world that reduces conflict and terrorism overall, so will digital currency. Also, it reduces the threats posed by governments against their own people. Government repression, like that seen in Venezuela or for a more extreme example, North Korea, can kill far more people than non-state terrorism, and tools that empower individuals help resist that.

ringaroundthetx 9y ago

It’s it about bitcoin as Monero wouldn’t be a terrible idea though, another digital currency But attempting financial sanctions as a way to deter use? That will be a waste of everyone’s time and money One idea is if digital currencies get big enough then it will accelerate the insolvency of the state from its obligatory attempts to curb use. Far fetched now, less far fetched than a year ago