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Yes, you read correctly, an Israeli newspaper "Contacted Bitcoin" for comments on the Hamas terrorist group calling for funding via cryptocurrency.
Bitcoin is not a business
While being universal, open and borderless, bitcoin could remain an opaque concept for some. This could explain the blunder that appears in an article of January 30, 2019 the Israel weather where the paper m said "There was no immediate response from Bitcoin", which means that the publication contacted Bitcoin about the story.
The story in question was Hamas; the Palestinian militant group, requesting donations in Bitcoin to continue its offensive against Israel. The paper goes so far as to repeat a tired rhetoric of using Bitcoin in the search for illicit articles.
One may wonder how the newspaper has "contacted Bitcoin" since it is not a payment company like PayPal. Once again, traditional organizations show their lack of understanding of the subject. This ignorance, however, does not prevent them from spreading false information about the revolutionary payment technology.
Maybe they thought wrongly either Bitcoin.com or Bitcoin.org was the "official website" of Bitcoin. The latter is indeed written on the Bitcoin white paper. Whatever it is, we recommend carefully studying an introductory text next time; maybe attend a Bitcoin conference in Tel Aviv or read Bitcoinist "What is Bitcoin? The most popular cryptocurrency guide. "
Bitcoin's viability for financing terrorism
Meanwhile, about Hamas' call for funding via Bitcoin, many experts have argued against the viability of using cryptocurrency to fund terrorist activities. Last Tuesday (January 29, 2019), Hamas called on its supporters to support its cause by sending donations in bitcoins.
Abu Obeida, a spokesman for Hamas, posted a note on Instagram, saying:
The Zionist enemy is fighting the Palestinian resistance by trying to cut off the resistance by any means, but resistance fighters around the world are fighting these Zionist attempts and are seeking every possible means to help the resistance.
However, the reports of the two American intelligence and Europol Jihadists have not yet exploited crypto-currencies in their terrorist activities. Studies confirm that money remains the king of terrorist financing.
In addition, the promulgation and enforcement of robust KYC / AML protocols is sure to make virtual currencies a much less viable proposition for jihadists, as the transaction book is public and fully transparent. Moreover, these organizations do not work exactly in technological utopias, that is to say that the conversion of crypto to money is a tedious task.
What do you think of the blunder in the Times of Israel article? Let us know your thoughts in the comments below.
Image courtesy of Times of Israel, shutterstock
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