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Is Bitcoin a terrorist threat? The Department of Defense thinks it might be.

Defense Department to Study Bitcoin as Terrorist Threat

The Combatting Terrorism Technical Support Office is heading a program that will help the military understand how modern technologies could pose threats to national security.

Apparently this includes bitcoin and other virtual currencies, the International Business Times reported. According to Bitcoin Magazine a memo detailing some of the CTTSO project states:

“The introduction of virtual currency will likely shape threat finance by increasing the opaqueness, transactional velocity, and overall efficiencies of terrorist attacks.”

One of the greatest concerns reportedly rests with the anonymity afforded bitcoin transactions. The transactions are public, but the people involved in the operations are unnamed.


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Bitcoin and cryptocurrencies COULD PLAY a part ending government

David Friedman has proposed this as a hypothetical even before bitcoin was known. David explained that "If a society were composed of people mostly working from home online, and their encryption was good enough, there would be no way for the government to either seize their money, or monitor their behavior."

So if we were somehow able to operate on a separate currency that can be monitored, and we were also paid using that currency, and there was no way to tell how much currency you earned, then how could the "taxes be collected?"

And if you answer "Well they'll just throw your ass in prison then!" Well how does that BENEFIT THE GOVERNMENT? When you were a productive citizen, they WANTED TO STEAL the rewards of your productivity, and when the COULD NOT STEAL your reward, then they locked you in prison, YOU STOP BEING PRODUCTIVE and in fact become counter-productive, and so they just LOST AN OPPORTUNITY FOR WHAT THEY ORIGINALLY WANTED TO DO; STEAL your reward.

So "prison" won't help in increasing tax collection.

TwelveOhOne's picture

Bitcoin users consider DoD a terrorist threat!

Or, "Bitcoin users consider the US dollar a terrorist threat."

Most terrorism is in reality the CIA's new term "blowback" which is really the simple term "consequences".

But they do their deeds under cover of darkness, whereas the consequence is done in daylight, so those who are returning fire are called crazy people out to kill us all.

When in fact, those people are in government.

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Game over. Humanity won & government lost

They just haven't realized it yet.

Stopping online currencies will require putting an end to the internet itself and that's never going to happen. Sure, bitcoin and others may have their shortcomings but that'll all get worked out in the end. Dark Wallet is already very promising, and once the US dollar collapses online currencies will get a boost that will likely end central banking forever. And once the central banks collapse, it's game over for their empire governments that feed off them, restoring power to the people.

It should be no question government sees bitcoin as a threat. The only question is how far will they go to try and stop it?

If men are good, you don't need government; if men are evil or ambivalent, you don't dare have one.

Government appears to be in a quandary

They don't want to rule that bitcoin is money for tax purposes, but they want to apply money laundering laws to it at the same time.

The real threat of bitcoin is to the money monopoly, not terrorism. Unfortunately, terrorism is the magic word that the government can use to make the constitution disappear.

We all want progress, but if you're on the wrong road, progress means doing an about-turn and walking back to the right road; in that case, the man who turns back soonest is the most progressive.

-C. S. Lewis

Did this headline pop?

What do you think, guys?

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