In the past few years, several online Payment processors like Paypal, Amazon Smile and debit card processors like Visa and Mastercard have refused to process payments to supposed “hate groups” and individuals who espouse political incorrect views…. partly due to pressure from the media and social activists (Myself and several others have been banned from using Patreon because “Muh feelings”).
This has forced a lot of these online personalities to turn to more unorthodox and decentralized methods of payment processing that cannot be monitored or controlled by any financial institution: Crypto-currencies.
Now, a lot of these institutions like the SPLC are now declaring an open war on the crypto market, because of the bull run its been having….. meaning a lot of these people who were banned from the traditional payment processors are now much richer than they would have been if they hadn’t been forced to use cryptos.
This tweet was posted back in October, when the rice of Bitcoin was at $5,000. I can only imagine how much more he has gained since then:
In light of this, the Southern poverty law center has created a page for Bitcoin in its hate watch database, arguing that the crypto-currency has become the de facto means of financial transactions for the alt-right. The SPLC also says it is planning to release a list of 200 accounts (Presumably Bitcoin and other crypto addresses) belonging to racists:
…Bitcoins can be used to purchase all manner of goods and services and it can be used to make donations.
That’s primarily how the alt-right is using the cryptocurrency.
Websites such as WeSearchr, which raises money for a “bounty” for information, and Hatreon, where donations can be made to alt-right figures such as Andrew Anglin, primarily use bitcoin for fundraising.
Bitcoin purchases can be traced by a determined researcher. And, the Southern Poverty Law Center will be releasing a list of 200 accounts tied to white nationalists and racists in the coming week.
Just this month, Mic published a similar story about Bitcoin, lamenting that the currency’s extraordinary growth has made a lot of racists much richer. Its almost ironic in a way… These institutions try to make life unbearable for supposed “hateful” people by forcing them to use unorthodox currencies, and these currencies end up making said “hateful people richer” .