If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Salon)   Somehow, Bitcoin is enabling Alt-right extremism. And most likely bad plot lines in Hollywood screenplays that speak of crypto-currencies and wannabe Hitlers   ( salon.com) divider line
    More: Strange, Domain name registrar, Daily Stormer, notorious neo-Nazi online, multiple web-hosting services, cybersecurity researcher John, domain registrar GoDaddy, Silicon Valley crowd, alt-right group Vanguard  
•       •       •

610 clicks; posted to Business » on 28 Dec 2017 at 7:54 AM (28 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



29 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2017-12-28 01:59:49 AM  
Sure seems like there have been a lot of moronically petty anti-Bitcoin headlines recently.
Coming soon! Nazis own cars! Do you own a car? You may be a Nazi and not realize it!
 
2017-12-28 02:44:22 AM  
Bitcoin is Shady , and a risky investment. I hope their digital wallets get stolen.
 
2017-12-28 03:54:18 AM  
img.fark.netView Full Size
 
2017-12-28 07:50:13 AM  
Bitcoin is good for money laundering and speculation; it's pretty crappy as an actual currency that you actually use.
 
2017-12-28 07:58:46 AM  
It's a good way to donate to these groups in an untraceable manner.
But, then again,  so is cash.
 
2017-12-28 08:00:25 AM  
I bought a bitcoin a long time ago and it went up a lot so this implies that I'm pretty smart.
 
2017-12-28 08:21:16 AM  
Well, Bitcoin is the currency of choice for criminals.
 
2017-12-28 08:47:03 AM  

Tyrone Slothrop: Well, Bitcoin is the currency of choice for criminals.


That's what I thought - that it is for all things shady. Not that it doesn't have legitimate users and uses - it's just a pretty obvious choice if you're up to something you don't want anyone to know about.
 
2017-12-28 09:57:16 AM  
But Bitcoin is not a company, and it's not clear that banning individuals from using the currency is even possible. Responsibility for such a decision would presumably lie with the Bitcoin exchanges, which have their own issues to confront.

Yeah... how about no? By what logic should we ban them from using bitcoins and not from using cash? Why ban them from binance or bittrex, but not BoA?

This is not a street people should want to enter. "We don't like you so we'll ban you from everywhere" seems very open to abuse.
 
2017-12-28 10:07:43 AM  
BitCoin is pretty good at buying drugs and child porn and paying extortion from malware

For everything else its pretty useless
 
2017-12-28 10:22:56 AM  

Voiceofreason01: Bitcoin is good for money laundering and speculation; it's pretty crappy as an actual currency that you actually use.


Buttcoin is for real currency.
 
2017-12-28 11:03:59 AM  

Voiceofreason01: Bitcoin is good for money laundering and speculation; it's pretty crappy as an actual currency that you actually use.


Speculation is pretty crazy as well, same for any bubble.  One big problem is that the feds are eager to bust any bank doing business with state-legal pot (they are obviously fine with legal opiods, and laundering real cartels even only gets a token fine but expect an extremely stretched butt if you work with state-legal pot).

For speculation, the trick is to get out before the feds relent on the pot rule.  That is probably helping maintain the bubble (against any natural bubble burst), but  once it is gone it becomes a pure bubble.  There is also the danger of bugs/attacks to the code (presumably after a fork/update) but that seems pretty safe for now.
 
2017-12-28 11:08:20 AM  
Almost all US currency is in $100 bills of which most Americans see very few during their lifetime. They are mostly hoarded by foreign governments and criminals.

There is very little difference in that sense between Bitcoin and dollars. Dollars still are far more useful for spending for everyday use but any value upside would come from deflation.

Bitcoin isn't worth putting your savings in but it might be good for play money if you have any.
 
2017-12-28 12:16:51 PM  

bloobeary: Sure seems like there have been a lot of moronically petty anti-Bitcoin headlines recently.
Coming soon! Nazis own cars! Do you own a car? You may be a Nazi and not realize it!


Monetary transactions designed to operate outside of regulation are favored by criminals. It is somehow "petty" to point this out.

/cryptocurrency is a pipe dream
//time to wake up
 
2017-12-28 12:23:06 PM  

DerAppie: But Bitcoin is not a company, and it's not clear that banning individuals from using the currency is even possible. Responsibility for such a decision would presumably lie with the Bitcoin exchanges, which have their own issues to confront.

Yeah... how about no? By what logic should we ban them from using bitcoins and not from using cash? Why ban them from binance or bittrex, but not BoA?

This is not a street people should want to enter. "We don't like you so we'll ban you from everywhere" seems very open to abuse.


Well the argument would be around freezing or tracking Bitcoin wallets associated with terrorism or terroristic threats.

Something that is done for brown people terrorists but not yet for domestic white people terrorists.  The main point is that governments have broad authority over the currency and banking systems but Bitcoin isn't tied into that infrastructure yet.

Coinbase has already agreed to tattle on it's most profiable users in exchange for the authorities not leaning on them.
 
2017-12-28 12:34:41 PM  

Splinthar: DerAppie: But Bitcoin is not a company, and it's not clear that banning individuals from using the currency is even possible. Responsibility for such a decision would presumably lie with the Bitcoin exchanges, which have their own issues to confront.

Yeah... how about no? By what logic should we ban them from using bitcoins and not from using cash? Why ban them from binance or bittrex, but not BoA?

This is not a street people should want to enter. "We don't like you so we'll ban you from everywhere" seems very open to abuse.

Well the argument would be around freezing or tracking Bitcoin wallets associated with terrorism or terroristic threats.

Something that is done for brown people terrorists but not yet for domestic white people terrorists.  The main point is that governments have broad authority over the currency and banking systems but Bitcoin isn't tied into that infrastructure yet.

Coinbase has already agreed to tattle on it's most profiable users in exchange for the authorities not leaning on them.


Track and trace is something entirely different from "ban them all". Plus the white / brown divide probably isn't true. It is far more likely internal / external, with the external being mostly brown people being a result of recent history rather than racism.
 
2017-12-28 12:54:30 PM  

LoneWolf343: Monetary transactions designed to operate outside of regulation are favored by criminals.


Yellow rental trucks are favored by terrorist bombers. Ban all yellow rental trucks!
Serial killers have been known to wear shoes while committing murders. Let's ban shoes, too.
Hitler owned a hat. All hat owners should report to prison now.
Ooga booga. fear fear fear.

You want to discredit Bitcoin on it's own merits, be my guest. It's backed by nothing so it's value is highly questionable. But, cool it with this idiotic "A bad guy uses it, so it's tainted by association!" garbage.
 
2017-12-28 01:10:07 PM  
Blaming bitcoin for crime is such a strawman argument.  Its far easier to track bitcoin than suitcases full of bills, especially since exchanges are cooperating with goverments to remain open.
 
2017-12-28 01:22:58 PM  
img.fark.netView Full Size
 
2017-12-28 03:40:50 PM  
Is the article headline a question? Then the answer is no, you pandering bunch of crackers.
 
2017-12-28 05:42:06 PM  

Tyrone Slothrop: Well, Bitcoin is the currency of choice for criminals.


Actually, that's cash.
 
2017-12-28 07:33:03 PM  

bloobeary: You want to discredit Bitcoin on it's own merits, be my guest. It's backed by nothing so it's value is highly questionable. But, cool it with this idiotic "A bad guy uses it, so it's tainted by association!" garbage.


Bitcoin is inferior to traditional currencies in pretty much every way. The only real advantage of Bitcoin is the anonymity it offers which is mostly only an advantage to criminals.
 
2017-12-28 07:49:54 PM  

Voiceofreason01: The only real advantage of Bitcoin is the anonymity it offers


The only real advantage of Bitcoin is that you used to be able to print stacks of it at home in your spare time.
 
2017-12-28 08:00:21 PM  

bloobeary: Voiceofreason01: The only real advantage of Bitcoin is the anonymity it offers

The only real advantage of Bitcoin is that you used to be able to print stacks of it at home in your spare time.


That benefitted early adopters but it's proven to be a deep structural flaw.
 
2017-12-28 10:45:29 PM  

bloobeary: Sure seems like there have been a lot of moronically petty anti-Bitcoin headlines recently.
Coming soon! Nazis own cars! Do you own a car? You may be a Nazi and not realize it!


I started donating to the SPLC around the time Trump was elected, but they send me an email newsletter that doesn't make me feel warm and fuzzy about my contributions. The latest one has jumped on the bandwagon of Bitcoin=alt-right.
 
2017-12-28 10:49:34 PM  

jso2897: Tyrone Slothrop: Well, Bitcoin is the currency of choice for criminals.

That's what I thought - that it is for all things shady. Not that it doesn't have legitimate users and uses - it's just a pretty obvious choice if you're up to something you don't want anyone to know about.


That only makes sense if you have a way of buying bitcoin in the first place that is untraceable. If you want to use your credit card, for instance, then there's a record of that, and once it's linked to your bitcoin address, all future transactions are public on the blockchain, AIUI. So I don't think bitcoin can be more anonymous than the financial system it's linked to.
 
2017-12-29 02:22:32 AM  
I'm actually surprised I haven't seen more Bitcoin techno warble garble on TV yet. In fact the only mention of Bitcoin that I've seen is on Mr. Robot and it's done extremely well. But knowing how the writers for these techno schlock shows grab onto buzzwords and leach off of it like a rat on the virgin Mary's tit its actually pretty surprising you don't see the Big Bang Theory or NCIS having entire episodes based around Bitcoin.
 
2017-12-29 07:44:53 AM  

JesterJoker55: I'm actually surprised I haven't seen more Bitcoin techno warble garble on TV yet. In fact the only mention of Bitcoin that I've seen is on Mr. Robot and it's done extremely well. But knowing how the writers for these techno schlock shows grab onto buzzwords and leach off of it like a rat on the virgin Mary's tit its actually pretty surprising you don't see the Big Bang Theory or NCIS having entire episodes based around Bitcoin.


This happened in the writers off-season.  Wait till the fall lineups if the bubble is still holding on; if it bursts by then (probable) those episodes will just get circular-filed, to turn on up what Cracked's successor is in a decade or so.
 
2017-12-29 07:15:27 PM  

DerAppie: Splinthar: DerAppie: But Bitcoin is not a company, and it's not clear that banning individuals from using the currency is even possible. Responsibility for such a decision would presumably lie with the Bitcoin exchanges, which have their own issues to confront.

Yeah... how about no? By what logic should we ban them from using bitcoins and not from using cash? Why ban them from binance or bittrex, but not BoA?

This is not a street people should want to enter. "We don't like you so we'll ban you from everywhere" seems very open to abuse.

Well the argument would be around freezing or tracking Bitcoin wallets associated with terrorism or terroristic threats.

Something that is done for brown people terrorists but not yet for domestic white people terrorists.  The main point is that governments have broad authority over the currency and banking systems but Bitcoin isn't tied into that infrastructure yet.

Coinbase has already agreed to tattle on it's most profiable users in exchange for the authorities not leaning on them.

Track and trace is something entirely different from "ban them all". Plus the white / brown divide probably isn't true. It is far more likely internal / external, with the external being mostly brown people being a result of recent history rather than racism.


Track and Trace is impotent as a punitive measure is my point.  Which you ignored and tried to explain away with the ole "Well more brown people commit terrorism trope:" http://www.politifact.com/tru​th-o-mete​r/article/2017/aug/16/look-data-domest​ic-terrorism-and-whos-behind-it/
Now 2017 is almost over but thanks to Vegas its pretty easy to say that domestic terrorism is owned by white people in 2017.

You know because "I was mad I was broke" is not the reason Stephan Paddock killed 58 and injured hundreds (I use the rule about creating situations so all those trampled are his fault too.).

But we digress,

The point is that Bitcoin has no central ability to freeze wallets as system.  Rather the wallet itself needs to be acquired through passwords or whatever.  Vs. any other central banking or currency where a component of a bank or holder of assets is the ability to freeze an account for law enforcement or government of the region.

That was my point about inability to respond to law enforcement, while tap and trace has value it is not comparable to freezing specific funds or rerouting them forcibly per legal request.
 
Displayed 29 of 29 comments

View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking

On Twitter





Top Commented
Javascript is required to view headlines in widget.
  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report