Hamas uses Bitcoin. So What? – Bitcoin People

Hamas that controls the Gaza strip is under a blockade by Israel, tightening financing from the central Palestinian Authority in Ramallah and as a “terrorist” group, financial institutions or regulated platforms like PayPal are not allowed to service them. Hamas and similar organizations seem to have found, in Bitcoin, the last resort solution to get financed.

The point is that Bitcoin comes to be useful when you don’t have alternatives. Criminals, in general, must be more creative than average Joes, and bitcoin is their creative solution to a pressing problem. Using Bitcoin is the same creative solution are using Venezuelan (failed state, capital control), Argentinian (Hyperinflation) or Iranian (International embargo). There is no need to convince them that Bitcoin is valuable and useful.

It is interesting to note that labels like “terrorism” have biding effects on financial institutions dealing with government-issued money, while, with Bitcoin, these dictates lose their effectiveness. The US and allies keep watching at the finger and refuse to notice the moon. Bitcoin is real and unstoppable; they must deal with their reduced coercion power. As you cannot stop the drug dealer at the playground from transacting in cash, so you cannot stop people transacting in Bitcoin. This gives us an incredible tool to transact cash-wise with people on the other side of the world, and Hamas understood that.

I think the important news here is that Hamas using bitcoin is another piece of bitcoin adoption happening. You can fight it or ignore it, but always more people need Bitcoin.