A global security threat: Meet The Worlds Most Powerful Bitcoin Backers. 🌏Must Read

[Wwcd]

Meet The World’s Most Powerful Bitcoin Backers


Cryptocurrency may be one of the biggest threats to governments, security and the entire financial system that we’ve ever seen.
It can help fund terrorism and its anonymity makes it almost impossible to track.
Most importantly, it is poised to revolutionize global finance and banking.

But our new Enemy No. 1 can’t be fought; it can perhaps be controlled. Banks have figured that out and are bringing crypto currency into the fold.

The superpowers—U.S., China and Russia--will have to face the new reality. They love to hate it and hate to love it. Regardless, if they don’t embrace it, they won’t be able to control it.
An enemy you don’t control is a much bigger threat.

So, welcome to the new balance of power, funded by cryptocurrency.

SNIP

The Period of Uncertainty is Over

Russia is embracing it, with an eye to dominating it. China has banned it. The U.S. is struggling to figure out how to regulate it. But nothing can hold it back.

And now, many believe the uncertainty is over.

SNIP

Threats and Opportunities

The potential security threats are clear and present, but let’s put things like new avenues of terrorism funding into perspective.

At this point, terrorist groups are certainly eyeing their options with cryptocurrency, and testing the waters. In January, we saw what appears to be the first case, with the Indonesian government claiming that members of the Islamic State were transferring Bitcoin to each other.

Terrorists could create a virtual currency that is even more powerful and untraceable—one that can completely bypass the global banking system. It hasn’t happened yet, but the potential is there.

While terrorism is a threat to the security of all states, another threat to the U.S. is an opportunity for Russia: sanctions busting.

The rise of digital currency means that Russian officials sanctioned by the U.S. and the European Union have a way to send and receive money.

While the U.S. Treasury’s Terrorism and Financial Intelligence unit puts sanctioned individuals on a blacklist that keeps them from doing any business in U.S. dollars, cryptocurrency, which isn’t backed or controlled by any state, makes it possible to bypass the blacklist.

But even this pales in comparison to the bigger story here:
Bitcoin and its fellow cryptocurrencies are challenging the foundations of the global banking system.

Disruption of the global banking system at this point is “inevitable”


The Crypto ‘Embrace’ is All About Control

SNIP


But Russia, for one, is much more motivated. Cryptocurrency is a great way to skirt sanctions.

“The U.S. is rightfully concerned about cryptocurrencies, but like anything that may have a negative impact on national security, there are way too many stakeholders that need to be brought to the table to discuss, so the U.S. is not capable of acting quickly,” Dr. Makarenko told Oilprice.com.

“The right conversations are taking place, but at the end of the day, it is in the U.S. interest to secure the value of the global position of the dollar.”

So, while China is banning cryptocurrency and the U.S. is still trying to figure things out, Russia seeks to dominate.
MORE at LINK..
https://oilprice.com/Geopolitics/International/Meet-The-Worlds-Most-Powerful-Bitcoin-Backers.html
--------------

My concern with Bitcoin is how it was used by Russia in the 2016 election, to buy favors while hiding how those favors were rewarded.

Good Read as to why Russia wants to dominate this market. They move globally, unregulated & outside of sanctions.

[DetlefK]

1. If you read RT...

1. RT is full-on hyping Bitcoin. At least 1 new article per day how awesome Bitcoin is.

2. A few months ago, the russian government hinted that they want to regulate and/or outlaw cryptocurrencies.

3. And a few weeks ago, the russian government hinted that they want to create their own cryptorubble.

[eppur_se_muova]

2. "Cryptorubble" is an amusing (perhaps apt) neologism, but I think you meant "cryptoruble". ;) nt

[Wwcd]

3. I was ill after reading this. How does the good evar again contain the evil of this world,

when their lust for power seems to have morphed into its own lawless world.

Dictators like Putin move rogue throughout the globe, & now with Trump leading America, what's to stop them?
They have tasted supreme power & they are never giving it up.

It took a united world war to contain the insanity of a power driven Adolph Hitler.

Who stops this threat today? Because this MUST be contained.

aaaagh!