Bitcoin is Demonstrating its True Power in Gaza Amid Ongoing Crisis
Oct. 16, 2024.
1 min. read.
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Bitcoin is proving essential in Gaza, providing unimpeded financial aid as traditional payment systems fail, demonstrating its core purpose as a tool for survival and self-organization.
The ongoing situation in Gaza highlights Bitcoinās potential as the only viable means to deliver aid to Gazans. With traditional financial systems disrupted and controlled, Bitcoin has emerged as a lifeline, showcasing its core purpose: enabling transactions without intermediaries. The initiative “BTC For Palestine” exemplifies how Bitcoin serves as a tool for direct, unimpeded aid.
For over a year, Gazans have been completely cut off from global payment networks. Dependent on cash transactions, they face difficulties that go beyond mere inconvenience or fees. They are in a desperate fight for survival, requiring aid for basic necessities like food and water. Even international aid from the UN has been seized, leaving Bitcoin as the only method for donors to contribute directly.
āThis is one of the most powerful demonstrations of Bitcoinās necessity since Wikileaks began accepting it in 2011,ā states Shinobi, a prominent Bitcoin advocate. Bitcoinās initial purpose was to provide a way for people to transact without interferenceāsomething the people of Gaza desperately need now as they face systematic violence and genocide.
Yusef Mahmoud, a former cab driver, has been using Bitcoin to secure aid for Gazans. Over the past year, he has helped provide food and water to thousands of people in need by accepting international financial support that cannot be blocked. His story underscores how Bitcoin enables individuals to bypass controlled payment rails, making a tangible difference in the lives of those suffering.
Bitcoinās role in Gaza is a reminder that it is more than a digital asset or a speculative investment for Wall Street; it is a revolutionary tool for self-organization. It empowers people to counteract institutional and governmental failures, proving its necessity in addressing crises governments either ignore or create.
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