Hayat Tahrir al-Sham (HTS) Labels Bitcoin as One of the Most Important Creations Ever Made
Generally, it is always nice when a powerful group of people acknowledges how important Bitcoin can be. However, this time, a group that most Bitcoin enthusiasts would not agree with has decided to praise the token.
According to Hayat Tahrir al-Sham (HTS), one of the most powerful insurgent forces in the Syrian civil war and a group that was defined to be jihadist (the ones fighting the Holy War) has praised Bitcoin.
The report from The Independent shows that one of the latest publications of the jihadist group affirmed that Bitcoin was the number one crypto and that it was one of the most important inventions to happen in the last decade.
Bitcoin Was Used To Fund HTS
On their publication, the group praised Bitcoin because it was a good anonymous way to fund their operations. People could make donations in a safe and anonymous way using it, they affirmed. They have also praised the decentralization of the token and the fact that you simply cannot restrict the use of the currency.
No government in the world can stop people from sending a Bitcoin transaction if they want to. They may even forbid it within the borders of one country, but in the end, they simply lack the power to basically enforce this decision in case people do not want to be compliant with it.
Bitcoin can be compelling to groups that work outside of the law because of this. Most of the funding that the group receives right now comes from external sources, so Bitcoin is currently being used.
In fact, some people like Hamid bin Abdallah al-Ali are notoriously for financing groups like Al Qaeda, as appointed by the U. S. Treasury Department back then. Most wealthy Islamic people do not fund these groups, but the ones who do find in Bitcoin a fast way to send money to these groups without having to overcome several barriers first.
Cash Is Still The Most Used Currency For Terrorists
In spite of Bitcoin being used in more campaigns for terrorist groups lately, most of them simply do not get big sums of money via Bitcoin or any crypto at all. Most money is still paper cash.
Why? Well, because Bitcoin is actually traceable. These groups may even affirm that Bitcoin is not really traceable, but just use Google for a few seconds and you will hundreds of articles defining how the authorities tracked Bitcoin users who made crimes and arrested them.
Privacy coins like Monero are harder to track, that’s true, but they are also widely less used than Bitcoin, which means that they are still far from ideal. Despite that, Monero and Zcash are growing in popularity, just not quick enough to be used by terrorist groups.
Do you know what is ideal for terrorists? Paper-based fiat currency. You simply cannot track a dollar bill. This makes cash the king in usage for these groups and it will possibly remain to be for a long time.