[2015-11-19] CD: EU clamps down on bitcoin, anonymous payments to curb terrorism funding

[LiteCoinGuy]

EU clamps down on bitcoin, anonymous payments to curb terrorism funding

European Union countries plan a crackdown on virtual currencies and anonymous payments made online and via pre-paid cards in a bid to tackle terrorism financing after the Paris attacks, a draft document seen by Reuters said.

http://www.reuters.com/article/2015/11/ ... BW20151119

[arnoudk]

Yes, because for funding terrorism you would ideally choose the world's most transparent and open value transfer service where every transaction ever made could be traced with absolute certainty forever. Bitcoin payments are traceable by definition.

I'm sorry but it is just sick to see the politicians use the deaths of all these innocent people in Paris for their own political motives. Have some respect and mourn the dead and their families but don't use them to further any of your selfish causes. That is just SICK.

[ronnieb]

Yes, because for funding terrorism you would ideally choose the world's most transparent and open value transfer service where every transaction ever made could be traced with absolute certainty forever. Bitcoin payments are traceable by definition..

My thoughts exactly LOL... Great Post.

The reality is that they should push Bitcoin use... Imagine one terrorist being caught and then have the authorities look at his wallet history... they could likely take down and entire network from one arrest. (I know there are a lot of details missing from this hypothetical situation, but any adroit
Bitcoiner can fill in the blanks.)

Here is a great video from University College of London where they demonstrate just how traceable bitcoins are.

A Fistful of Bitcoins: Characterizing Payments Among Men with No Names

[helloworld]

I find it funny that some bitcoiners think that truth matters when it comes to the propaganda.

[arnoudk]

I find it funny that some bitcoiners think that truth matters when it comes to the propaganda.

I disagree. The truth is the only thing that matters. No, it will never convince those who do the propaganda. But it just might convince one person who is the target of that propaganda. The only way to win, is for truth and logic to prevail. And that is to point to the errors in truth and reason to anyone who will listen.

Most won't. I know. But some might, and some do. It is those people that I wish to reach.

All it takes for evil to flourish is for good men to stand by and do nothing. Are you telling others to do nothing, because it is of no use?

[CryptoGreek]

Yes, because for funding terrorism you would ideally choose the world's most transparent and open value transfer service where every transaction ever made could be traced with absolute certainty forever. Bitcoin payments are traceable by definition.

I'm sorry but it is just sick to see the politicians use the deaths of all these innocent people in Paris for their own political motives. Have some respect and mourn the dead and their families but don't use them to further any of your selfish causes. That is just SICK.

To the point! Kudos!

[ronnieb]

EU clamps down on bitcoin, anonymous payments to curb terrorism funding

European Union countries plan a crackdown on virtual currencies and anonymous payments made online and via pre-paid cards in a bid to tackle terrorism financing after the Paris attacks, a draft document seen by Reuters said.

http://www.reuters.com/article/2015/11/ ... BW20151119

Great Share thanks!! The thing that really scares me about seeing articles like this is that if the authorities did specifically try and target Bitcoin or other CryptoCurrencies for control... the results would be the creation of even more sophisticated wealth transfer mediums.

Nothing will drive adoption and innovation better than outlawing Bitcoin!!!!

[BitcoinNewsMagazine]

All the EU can do at most is to make sure exchanges in EU verify their customers similar to what Coinbase has done all along. Stop spreading FUD.

[LiteCoinGuy]

Some facts about digital currency and terrorist financing

After the recent attacks in Paris, governments are redoubling their efforts to combat terrorist financing, and we’ve been asked how digital currencies might be affected by these efforts. The answer is that digital currencies like Bitcoin, and the service providers that help consumers access digital currency networks, don’t pose any greater threat of being abused by criminals and terrorists than other financial networks. Yet that doesn’t stop the publication of headlines like, “After Paris Attacks, Europe Is Cracking Down On Bitcoin.”

https://coincenter.org/2015/11/some-fac ... aign=facts

[arnoudk]

All the EU can do at most is to make sure exchanges in EU verify their customers similar to what Coinbase has done all along. Stop spreading FUD.

I agree that controlling the interfaces of crypto with regular finance is what the powers that shouldn't be can do. And I am sure they will step up this effort, and I am also sure that it will not kill bitcoin in any way - it will morph and/or move. But I disagree that that is what they can do "at most". The EU could make the use, or ownership, of bitcoin illegal with the stroke of a pen. It is not likely, if they wanted to do that it would have made more sense a few years ago compared to now. But then again - the USA has made the possession of physical gold illegal in the past, too, so I would not rule anything out.

The question is not: what does some politician say. Do we really care? The question is, what will some politician do. If they will lock you up for possession of a few bitcoins, if they will pick you up from your home and throw you in a cage, would you stand up and defend your rights? Or would you give in to the (threat of) violence?

[helloworld]

I find it funny that some bitcoiners think that truth matters when it comes to the propaganda.

I disagree. The truth is the only thing that matters. No, it will never convince those who do the propaganda. But it just might convince one person who is the target of that propaganda. The only way to win, is for truth and logic to prevail. And that is to point to the errors in truth and reason to anyone who will listen.

Most won't. I know. But some might, and some do. It is those people that I wish to reach.

You remind me of my former, naive self.

All it takes for evil to flourish is for good men to stand by and do nothing. Are you telling others to do nothing, because it is of no use?

I'm not saying to do nothing, but the whole thing is not about whether bitcoin is good for or being used for illicit activities, but keeping the pleb away from bitcoin and similar systems.

[arnoudk]

You remind me of my former, naive self.

Haha, I'm not sure if this is meant as a compliment - but I must say it is a nice try to position yourself in the 'more mature' and 'superior' position without giving any facts to support that position at all - nor that your current self is an improvement to your 'former, naive self'. If I remind you of your former self, then you cannot be surprised that I cannot accept this sentence as having any value.

But I'll bite. What is naive about using reason and evidence to reach only those who will listen to reason and evidence? From my own experience, I can safely say that this does work.

[helloworld]

You remind me of my former, naive self.

Haha, I'm not sure if this is meant as a compliment - but I must say it is a nice try to position yourself in the 'more mature' and 'superior' position without giving any facts to support that position at all - nor that your current self is an improvement to your 'former, naive self'. If I remind you of your former self, then you cannot be surprised that I cannot accept this sentence as having any value.

But I'll bite. What is naive about using reason and evidence to reach only those who will listen to reason and evidence? From my own experience, I can safely say that this does work.

Maybe I'm too old, but I got disillusioned about the mental capabilities of the population.

I do not think that reason and truth matters, when you have propaganda machines financed by the overlords of the fiat system and a completely passive and seemingly programmable population.

[CryptAxe]

EU clamps down on bitcoin, anonymous payments to curb terrorism funding

European Union countries plan a crackdown on virtual currencies and anonymous payments made online and via pre-paid cards in a bid to tackle terrorism financing after the Paris attacks, a draft document seen by Reuters said.

http://www.reuters.com/article/2015/11/ ... BW20151119

Great Share thanks!! The thing that really scares me about seeing articles like this is that if the authorities did specifically try and target Bitcoin or other CryptoCurrencies for control... the results would be the creation of even more sophisticated wealth transfer mediums.

Nothing will drive adoption and innovation better than outlawing Bitcoin!!!!

Certainly true, people have already worked out solutions for more anonymous cryptocurrency systems. They would probably gain some traction, or new implementations building on these existing ideas would certainly grow faster than the people trying to stop it can keep up. Sidechains or whatever could even allow for these systems to be built into Bitcoin maybe.

This association between cryptography both bitcoin and for communication and terrorism is certainly just fear mongering, and associating fear with cryptography for sheep minded.