ISIS Announces Its New Gold Dinar "Currency"
On November 11th, 2015, CCN reported that the Islamic State in Iraq and Syria or ISIS was preparing to launch its currency. Latest reports indicate that ISIS have gone ahead with those plans to launch their own currency. ISIS is a Sunni, unrecognized state and self-declared caliphate based in Iraq and Syria, or what is also known as the Levant. That explains why it is also known as ISIL. The word caliphate comes from the Arabic khilafa, which means succession, and its leader the Caliph would, therefore, be viewed by its followers as a successor to Muhammad. Conceptually, a caliphate....
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ISIS wants to introduce its own currency and plans to bring back solid gold and silver dinar coins, the Daily Mail reports. The Middle East terror group apparently wants to introduce its own Islamic currency as part of its attempts to solidify its makeshift caliphate. Militants are said to want to bring back the original dinar, which is an ancient currency from early Islam, and religious figures in Mosul and Iraq's Nineveh province have apparently announced its return in mosques. Also read: Pro ISIS Blog Suggests Bitcoin For Terrorist Funding: Why That Won't Work. The currency, which could....
A question was recently posed as to whether or not ISIS missed out on bitcoin. This is indeed a tough question to answer for a number of reasons. ISIS, as many saw back in November, opted to create its own currency with gold, silver and copper coins, and while it's unclear as to how ISIS plans to mint the currency, the coins are "dedicated to God," and meant to keep the group away from the "tyrant's financial system." But in light of all these claims, the question has always been there, "Is ISIS using bitcoin?" and according to a cyber-intelligence analyst from Israel, the answer is "yes."....
Will bitcoin be a primary currency of Islamic State as it seeks to establish an actual nation? Islamic State (IS) has used bitcoin to raise funds, according to Deutsch Welle, a German-based satellite TV station. An IS bitcoin account received around $23 million in the past month, according to the report. As the militant group seeks to establish an actual nation, IS is building state-like institutions and services, including schools, hospitals and now a treasury. Bitcoin And The 'Gold Dinar'. In addition to using bitcoin, IS has also minted and released its own currency called the "gold....
Politics dominates much of the Bitcoin vs. gold debate. Bitcoin enthusiasts often speculate on how the digital currency can undermine the state, fostering individual economic liberty for society at large. On the other hand, Bitcoin skeptics worry about the currency enabling their political enemies to gain a financial advantage. For example, Bitcoin-friendly political candidates can draw in single-interest voters from all demographics — from both the left and right — by taking a strong and positive stance on Bitcoin. Alternatively, as a more insidious example, terrorist groups like ISIS can....
A pro Islamic State in Iraq and Syria (ISIS) blog has released a post detailing the potential Bitcoin provides for terrorist funding. I want to emphasize that the Islamic State of Iraq and Syria (ISIS) has not proposed using Bitcoin to fund global jihadist efforts. The majority of ISIS members, the majority of Muslims, and the majority of human beings on the planet Earth have not even yet formed their first cohesive thoughts on Bitcoin. Many reports that claim that the pro-Bitcoin announcement came directly from ISIS itself have been circulating and causing fear, uncertainty, and doubt.....