Can Bitcoin Help Stop Flow of Funds to Terrorists?

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The United States military is studying digital currencies like bitcoin to learn if they can be traced and to figure out how they are used by America's adversaries around the world.

CNBC has learned that the global policy counsel of the Bitcoin Foundation flew to Florida to meet with officials from U.S. Special Operations Command for a daylong discussion Monday on the role of so-called cryptocurrenciesof which bitcoin is the best knownin illicit finance.

The first-of-its-kind discussion came just as U.S. warplanes began flying missions over Syria in President Barack Obama's effort to check the advance of the Islamic terror network ISIS. A key priority for the U.S. military is stopping the flow of money to ISIS fighters and blocking the network's ability to process profits from kidnapping, extortion and illicit oil sales.

The military's interest in virtual currency is part of an overall effort by special operations forces to understand how their enemies finance themselves, and what intelligence special operators can glean by following the illicit money.

"We're trying to do our best to understand the true scope of the threat that we are dealing with."

"We're trying to do our best to understand the true scope of the threat that we are dealing with," said a defense official who attended the meeting. "We have to fully understand all of the components and functions of the adversary across the globenot just in Syria and Iraqand the manner in which those adversaries raise, hide and move money."

Defense officials said ISIS is part of a global dark network on the Internet that is involved in the use of virtual currencyalthough ISIS itself is "principally funded through means other than virtual currency."

The invitation-only event, called simply the "Virtual Currency Workshop," was held at an office building in downtown Tampa near MacDill Air Force Base where Special Operations Command is based, and it included a meet-and-greet cocktail party at the Marriott Waterside Hotel & Marina on Sunday evening.

It was organized by a little-known but highly influential group called Business Executives for National Security, which facilitates connections between American business leaders and the U.S. military.

The group's members include a who's who of America's corporate and financial elite, according to its website, including Jeff Bezos of Amazon, former AIG CEO Hank Greenberg and David Koch of Koch Industries.

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Can Bitcoin Help Stop Flow of Funds to Terrorists?

PayPal now lets shops accept Bitcoin

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NEW YORK (CNNMoney)

This week, the payment processing company PayPal took its first venture into the world of all-digital money.

Merchants that work with eBay's (EBAY, Tech30) PayPal can now easily start accepting payments from customers that use Bitcoin (XBT), an independent, government-less currency.

PayPal struck a deal with three Bitcoin payment-processing companies: BitPay, Coinbase and GoCoin.

Related: What is Bitcoin?

Bitcoin is an Internet-based system of money specifically designed to cut out middlemen, like banks and governments. So, it sounds odd to have Bitcoin processors. But they make it easier for everyday, non-tech-savvy businesses to accept bitcoins -- and immediately convert them to cash.

But why take bitcoins -- which have fluctuated in price from $1,100 and $400 in the last year -- instead of proven government money?

The system offers much lower transaction fees, which cost businesses a huge amount of money. The 2%-3% that shops pay in credit card swiping fees can obliterate their profits.

Consider this PayPal's first -- but not last -- foray into the world of Bitcoin. The company has made clear that its interest in Bitcoin runs more than skin deep.

In the last year, eBay's two top executives -- CEO John Donahoe and former president David Marcus -- have expressed interest in Bitcoin's technology.

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PayPal now lets shops accept Bitcoin

Special Ops grill bitcoin for its terror fight

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The military's interest in virtual currency is part of an overall effort by special operations forces to understand how their enemies finance themselves, and what intelligence special operators can glean by following the illicit money.

"We're trying to do our best to understand the true scope of the threat that we are dealing with," said a defense official who attended the meeting. "We have to fully understand all of the components and functions of the adversary across the globenot just in Syria and Iraqand the manner in which those adversaries raise, hide and move money."

Defense officials said ISIS is part of a global dark network on the Internet that is involved in the use of virtual currencyalthough ISIS itself is "principally funded through means other than virtual currency."

The invitation-only event, called simply the "Virtual Currency Workshop," was held at an office building in downtown Tampa near MacDill Air Force Base where Special Operations Command is based, and it included a meet-and-greet cocktail party at the Marriott Waterside Hotel & Marina on Sunday evening.

It was organized by a little-known but highly influential group called Business Executives for National Security, which facilitates connections between American business leaders and the U.S. military.

The group's members include a who's who of America's corporate and financial elite, according to its website, including Jeff Bezos of Amazon, former AIG CEO Hank Greenberg and David Koch of Koch Industries.

Read MoreArab Bank verdict risks erosion of anti-terror controls -industry

"We sort of like to fly below the radar," said Susan Maybaumwisniewski, senior vice president for projects at Business Executives for National Security. She said her group has organized previous sessions for U.S. Special Operations Command, putting industry experts in front of American war fighters.

Previous topics have included capital markets and mobile banking. Maybaumwisniewski said the virtual currency event Monday was not specifically focused on ISIS, but rather a long-planned opportunity for the business community to brief the military on virtual currencies.

Among the roughly 100 attendees at the event, said several participants, were business executives and specialists in financial payment processing, experts in bitcoin operations, Silicon Valley executives, representatives from the U.S. Treasury and Department of Homeland Security, as well as members of the U.S. intelligence community.

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Special Ops grill bitcoin for its terror fight

Matt Condon warms up for first-grade debut but Afghanistan still wins thriller against Comets

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ACT Comets young gun Matt Condon had the perfect tune-up for his Sydney first-grade debut for Michael Bevan's Easts, testing himself against international side Afghanistan at Manuka Oval on Friday.

But it was a small band of vocal Afghanistan supporters who were cheering in the end, with the visitors producing a thrilling final-over victory after chasing down the Comets' total of 266 with three wickets in hand.

Condon will spend the summer in Sydney under the guidance of Australia's greatest-ever one-day batsman, Bevan.

Comets batsman Andrew Harriott survives an LBW appeal by keeper Shafiqullah Shafiq off the bowling of Samiullah Shenwari. Photo: Graham Tidy

He didn't get off to the best start though, getting a golden duck in last weekend's trial game, but he takes some form into Saturday's first-grade debut after scoring 45 for the Comets.

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"I went down there for a trial game. Unfortunately, I got snicked off the first ball, which didn't really help, but I had a little bit of a chat to [Bevan] about pathways coming through the ACT and my future there. It was good to catch up with him," Condon said.

"My first chance to impress up there in first grade. A couple of big names Nic Maddinson and Pete Nevill are playing, so [I have] an opportunity to play with some of the top boys [from NSW]."

Tamworth batsman Andrew Harriott (66 runs) was the backbone of the Comets' innings, but they continued to lose wickets throughout. If it wasn't for some lusty hitting by Daniel Magin (32 not out), they wouldn't have gotten anywhere near the total they did.

Originally from Newcastle, Magin was playing cricket in England during winter when he got a call from Comets coach Mark Higgs.

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Matt Condon warms up for first-grade debut but Afghanistan still wins thriller against Comets

Massive test for Workington Comets in speedway play-offs

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Last updated at 11:14, Friday, 26 September 2014

Workington Comets quest for Premier League glory begins tonight with a daunting trip to league leaders Edinburgh Monarchs.

Laura Morgan

Comets travel to the Scotswaste Arena (7.30pm start) on a mission to be the first team to defeat the Monarchs on their home track this season as the west Cumbrian club get their play-off campaign under way.

Edinburgh will then make the trip to Derwent Park for the return fixture tomorrow (7pm start).

Comets owner Laura Morgan is under no illusions that Workington have a tough weekend ahead of them.

She said: Tonight is massive. We know what we have got to do. The boys have got to get their heads down, regroup and get on with it.

They have got to raise the bar and do the best they can.

Then on Saturday, if we go back to the abandoned home meeting against Edinburgh in June, it was very close. We were two points up when it was abandoned.

It gives me encouragement. I thoroughly believe we were on for the win in that match. Its fair to say its going to be a very difficult couple of matches for us.

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Massive test for Workington Comets in speedway play-offs

Womans Skin Condition Drives Her To Point Of No Return (Photos)

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A nurse committed suicide because she could not live with having psoriasis.

Hollie McEwen, 28, committed suicide by hanging in her home. Her family believes it was her chronic psoriasis that led to her suicide.

Her condition played a large part in what she decided to do, said Hollies father, Andrew. She was a beautiful, vibrant young woman who felt she couldn't deal with the condition. She felt this was the only way out.

Hollie was first diagnosed with psoriasis, a skin disease characterized by red, scaly patches, papules, and plaques that usually cause itching, when she was 12 months old. At that point, however, treatment kept it controlled.

It later reappeared due to stress and caused Hollie to suffer from depression, reports The Daily Mail. She killed herself just two days after seeking treatment for depression.

(via The Daily Mail)

Her skin condition played a large part in her problems as a teenager and when older I feel this was at the root of all the problems, said her mother Wendy.

Hollie had undergone treatment for psoriasis over the past two years, including hospital stays and steroids after suffering from anxiety attacks.

Letters Hollie wrote to her loved ones were found in her home.

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Womans Skin Condition Drives Her To Point Of No Return (Photos)