Post
Topic
Board Bitcoin Discussion
Re: ISIS to create own coin. How can we convince to use Bitcoin?
by
repentance
on 13/11/2014, 23:23:21 UTC
Are you joking, as soon as the headlines "ISIS now using bitcoin" gets thrown around a bit just watch the price start falling.

And watch every legitimate service institute tougher KYC requirements to try to avoid being investigated for aiding terrorism financing, which is part of the overarching AML framework.

OP has proven themselves an idiot by referring to Bitcoin as "anonymous" anyway.

Ideologically, OP might be correct.  Bitcoin is a protocol and neutral in and of itself.  However, encouraging it's use by groups which are generally reviled even by libertarians and cryptoanarchists has a price.  If it's successfully used to finance terrorism then it comes under increasing government scrutiny and measures will be put in place to make it harder to use for "acceptable" crimes or legitimate commerce.  If it becomes too cumbersome to use legitimately, there's no net benefit for regular Bitcoiners.  

Governments will throw a hell of a lot more resources at combating the use of Bitcoin to finance terrorism than they have at it's role in the darknet markets.  Even the darknet markets themselves are in favour of "cleaning up" the markets in the wake of increasing prosecutions for CP centred on onion sites.  Additional heat is the last thing Bitcoin or the darknet markets need.

Something which maintains a public ledger of every transaction isn't the ideal way of funding terrorism, either.