Bitcoincash: is Bitcoincash really financing terrorism and illegal trading across the globe.

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2 years ago

We live in a world where new record terrorism cases rise such many are scammed of their money or got stuck in the middle of the issues of terrorism.

Terrorism is the new order of the real world.

I can say that about 20% of terrorism cases are reported daily according to statistics. Most especially in the southern part of the world< Africa >. Nigeria recorded a large number of kidnaps since 2014 >2022.

Ex-convicts that were caught were interviewed and all they could say is that poverty and quest for power made them engage themselves in illicit activities such as cyber fraud, armed robbery.

But today I would like to talk about the financial aspect of it.

Who are those supporting terrorisms and why are they supporting them.

Militancy or let me say terroristic activities in the country are supported by some people or groups of communities.

Some reputable personalities are the patrons and matrons behind the huge crisis the world is facing now.

I randomly asked a question from a friend of mine concerning terrorism:

If you are asked or caught as a patron or matron behind a terrorist group what would you say is the reason why you are supporting the terrorist group.

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I can never get involved in any terrorist activities but I would give out this answer because I know what people face before becoming a member of a terrorist group or militant. The truth is that people become rebellious when others see from their point of view or their rights are been denied. Some this motivates many to become rebellious.

Most donations to terrorist groups are done via Bitcoincash and other cryptocurrencies.

The truth can't be denied and also the usage and adoption of cryptocurrencies have brought great advantages to us and also grave disadvantages.

People only emphasize the benefits of cryptocurrencies and they ignore the side effects of cryptocurrencies

The fact that large donations are made to terrorists and also crypto is used for illicit trades and also for illegal activities should I say.

The project that was launched by the anonymous Satoshi Nakamoto has been termed illegal since it is used for illicit activities and I would just say every project has its side effects but Satoshi never thought of it that way, he only wanted to stop and reduce the payment of bank fees and also protect people's privacy and navigate everyone living an independent financial life.

We are getting it wrong not only crypto is responsible for illicit transactions and trading.

Every day a lot of people are caught in the airports or seaport with hard drugs but yet the rate of this criminal activity new goes down but rather soar Drug trafficking and human trafficking are common in Asia and many other countries off-Asia, many ladies fall victim to this cause they are enticed by the amount to be paid to them.

Facts and investigation that most drug traffickers trade using bitcoin, gifts cards, and cash. They prefer using unmonitored transaction bases unlike banks; since there is interference or the third party they would rather go for rigid and untraceable transactions to prevent them from being caught.

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Conclusion.

The government has been on the run to stop the activities of drug trafficking and also other illicit activities but yet it is not enough. But I think that traders or investors of cryptocurrencies have a vital role to play to shun this menace.

Other related articles.

Terrorism

Scams

Drug trafficking.

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