Bitcoin and the Black Americans

[pooya87]

it always surprises me to see how racists Americans are, specially when you consider the fact that US is a mixture of every race there is! their level of racism is just as high as the number of races there. and they try to bring it in everything they touch.... now for the first time in bitcoin!

and to be honest this particular one seems to me more like the owners of a business (a Digital Assets Group) trying to attract a certain clientele to their business and make money by playing on their emotions.

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[bitgolden]

I don’t know where you got this kind of information from, but I can tell that this is a very big lie. How does someone even believe this kind of story? There’s nothing like having misconception and misinformation among the black people meehn, it has nothing to do with what race they are, everyone get the same information on Bitcoin and it’s all about how they are able to understand it.

There are lots of black that make use of Bitcoin, more than you can even count all over the world, same way there are white people who make use of Bitcoin. Even in this forum there are also black people, and not just black people but people from every race. Stop saying what you don’t know. I don’t care about the survey you have posted here, Five thousand people is too small compared to the number people in the world. So whatever they got there is fake.

[Maebeo2017]

Let us not forget the harm the ICO rush and ponzi schemes like bitconnect and FOMO3D also had on the general public.
People like those in minorities who tend to live under financially unfavorable circumstances and face larger discrimination, are also likely to fall for "get rich quick" type scams.
Before you introduce ANYONE to BTC and cryptocurrency, you'd be doing them a service to also offer some SOUND and RESPONSIBLE financial advice. Cryptocurrency carries a lot of risk to hold and loss of capital is a potential outcome that individuals holding crypto assets should always account for.

I wouldn't be surprised if many black Americans heard bad things about BTC if their friends had lost money in a ponzi scheme. Perhaps the truth is for people living in dire financial conditions, that they don't really need BTC in their day to day lives.

This post makes sense absolutely. It can also be said for Africa countries as well. People who live in economically depressing times tend to fall into scam due to the problem of trying to meet up really fast, its a common problem that we all most stand to fight together with the right education and knowledge about bitcoin.

[Janation]

Black people are being discriminated and we all know it is not just in banks and loans.

Financial freedom might be an answer but Bitcoin and cryptocurrencies are not that reliable even in its run for years now. Scams and hacks are always there and we can't just recommend or suggest it to them since that might lead to another misunderstanding. A lot of white people do not want to use Bitcoin or other cryptocurrencies too, I think we should not just focus on black people.

[Kakmakr]

Even though I normally avoid race related topics like this, I cannot resist the temptation to react on this. Bitcoin ignore all social barriers and racist discrimination. There is no central authority that will control how many coins you can buy and how much you can own.

If there are racism in the Banking system, Black people might find it more difficult to get credit to buy bitcoins, but that is not a bad thing, because people should not buy bitcoins on credit. 

Bitcoin discriminates against nobody, no matter if you are 10 years old or if you are a terrorist or a gay person or a pedophile, you can buy and sell it, no matter what.    < Bitcoin is no different to cash, when it comes down to it, but getting the cash on credit from a Bank is the problem, because they discriminate>   

[XCANA]

It saddened me when I first saw this article online before seeing it here. Racist should back off from using Bitcoin to get their hate to another, Bitcoin is for everybody and not just for some group of colored humans. Bitcoin doesn't select who owns it, either white or black. China have been having good time with Bitcoin because of ASIC, are they black in color? Let's not let in racism into this technology, it's for everyone.

[alexsandria]

It saddened me when I first saw this article online before seeing it here. Racist should back off from using Bitcoin to get their hate to another, Bitcoin is for everybody and not just for some group of colored humans. Bitcoin doesn't select who owns it, either white or black. China have been having good time with Bitcoin because of ASIC, are they black in color? Let's not let in racism into this technology, it's for everyone.

Yes racist should really back from using bitcoin because it's doesn't matter if you are black or white there's no problem on holding bitcoin if you are white or black people in cryptocurrency we do not tolerate those kinds of racism because all of the people here is equal the promote equality bitcoin and cryptocurrency wants equality rest assured that no matter what happens black and white people can use cryptocurrency all the time as long as they know what to do about it. Let's stop on being racist let's just introduced bitcoin cryptocurrency all over the world no matter what color or the race of the people you will introduce.

[dothebeats]

It's such a shame that even in the 21st century we are still looking at race and skin color as the basis of superiority and personality. Bitcoin doesn't have to do anything with anyone's color or race, especially if the said currency is just going to be used for a few times without having to relay the user's identity. The great thing with bitcoin is that it no one judges anyone who wishes to use it, provided that you stay away from other's business. It's actually the closest thing to actual respect that you can see on financial/currency systems--it does not discriminate, not even on the slightest.

[Bohxz M4p4gm4h4l25]

Misconception and Misinformation. This is the main reason why Black Americans hated Bitcoin that much. They have been feed by the wrong information about what Bitcoin can do for them.

According to a survey of 5,126 Americans conducted by Coinbase and Qriously, “Twice as many Black Americans have been negatively impacted by the current financial system” compared to their white peers.

Bitcoin can really change the current situation about the economy of African-Americans. They are having a hard time managing their wealth because of their banks that provides a slow transaction. It affects really the economy of the African-Americans because the slower transaction will reflect to their economy movement.

Isaiah Jackson the author of Bitcoin and the Black America book, talks to his fellow Black Americans that that they no longer need the current banking system to manage their wealth. He is promoting the usage of Blockchain Assets to his community since it provides a faster transaction that their current banking system can't provide. He also stated that the main reason why the Black Americans do not want to adapt bitcoin is because of the wrong mindset that Bitcoin is a scam and no longer exist. He created the book for him to be able to relay the message to his fellow Black Americans that the block chain technology would really have a huge impact to the economy of every other country.

We can be the light to every other people that doesn't know anything about Cryptocurrency. We must give them a proper information about what can Bitcoin do to change their lives. We must think of a better way to spread the information about it. Who knows? Maybe these information might be the reason why every other countries will accept Bitcoin in the future.

Sources:
https://bitcoinist.com/twitter-ceo-is-pushing-bitcoins-benefits-for-black-america/
https://www.coindesk.com/pandoras-box-but-for-freedom-author-isaiah-jackson-on-bitcoins-impact
https://www.theatlantic.com/business/archive/2015/01/why-are-so-few-black-people-using-bitcoin/384268/

Do you have some information on why their banking system was slow?  I believe that they have atleast digital transactions operating and it somehow make their transaction fast.

In the case of bitcoin, absorbing negative information about it can really affect our perception like what happened to our fellow Black Americans. One thing we can do to atleast prove what Bitcoin can do is to spread the real news or information about bitcoin. Yes it is risky in some way and doesn't guarantee you a return but the technology behind it is something that can really benefit us.

[kryptqnick]

now they are putting bitcoin in the fight for racism? This forum has thousands of users and I am sure that this forum has hundreds of members from different countries (including America) and must have white and black people. This means that there are thousands of black people who use bitcoin. Why are they promoting these kinds of things? I see a lot of white people who don't like bitcoin, it has nothing to do with being black or being white... it has to do with how each person understands what they hear and see

I somewhat agree with you. But thousands of black people does not prove that they're fine with using it. To make a statement such as the op's making, however, we need some nice representative professionally done polls. It might turn out that on average black people in the US ('cause we have to remember that cryptos have gained quite some success in African countries) are more prejudiced against Bitcoin and the reason for that might be that they received a more negative impact from the financial system (on average). These things need solid proofs to be taken seriously. But in any case, Bitcoin promotion to any groups of people is something to support, right?

[XCANA]

Some of my white and black friends back in those days in school hate Bitcoin then but, with some number of them actively getting into the technology without  color of the body. Seriously speaking, we should keep the racist agenda far from Bitcoin because, Bitcoin is a decentralized digital currency and its been embrace by both white and black.

Some black countries have shown bigger interest in this technology, Binance has grown beyond some level to preach digital to the black nations, these nations are growing faster.

[Yamifoud]

Some of my white and black friends back in those days in school hate Bitcoin then but, with some number of them actively getting into the technology without  color of the body. Seriously speaking, we should keep the racist agenda far from Bitcoin because, Bitcoin is a decentralized digital currency and its been embrace by both white and black.

Some black countries have shown bigger interest in this technology, Binance has grown beyond some level to preach digital to the black nations, these nations are growing faster.

Discrimination is not longer be existed when it comes to this and crypto, Everyone is welcome no matter what is the color you may have.
In fact, we love to see everyone will adopt this technology and to have a better living. But somehow, some people would like to ruin and disrespect someone's right giving them misleading information just to lead them into far from what Bitcoin should be instead of giving them encouragement and complete information.

[shoreno]

All this information is incorrect, misleading.
The fact is: Bitcoin and crypto assets in Africa are currently very advanced and growing rapidly, you can see the proof here: 4 Reasons Why Bitcoin is So Popular in South Africa

Now a lot of misleading information outside, do not bring to this forum.

i think OP is pointing about Black american/african american and not purely Africans and this is Based in US not in africa(this is how i understand the OP meaning IMO)

though your stand here is correct that in Africa Bitcoin and altcoins are really doing great and growing in advance.

and also the Book is worth reading specially for the Black american's community and also for all the minorities .

if bitcoins are doing great on africa then how much more on u.s and other advanced countries? miss conception is there and not only happening on the said countries or races  but there is always a room for change and acceptance. alot of us were also think that bitcoins are bad and we saw false info on the web but after doing further research if what is really the truth for btc , we knew that btc wasnt that bad at all.  we shall also help spread the right info so that we can attract people to enter before they read on the missleading ones and leave

[Soots]

Some of my white and black friends back in those days in school hate Bitcoin then but, with some number of them actively getting into the technology without  color of the body. Seriously speaking, we should keep the racist agenda far from Bitcoin because, Bitcoin is a decentralized digital currency and its been embrace by both white and black.

Some black countries have shown bigger interest in this technology, Binance has grown beyond some level to preach digital to the black nations, these nations are growing faster.

Discrimination is not longer be existed when it comes to this and crypto, Everyone is welcome no matter what is the color you may have.
In fact, we love to see everyone will adopt this technology and to have a better living. But somehow, some people would like to ruin and disrespect someone's right giving them misleading information just to lead them into far from what Bitcoin should be instead of giving them encouragement and complete information.

That wouldn't affect races since Bitcoin as an asset can be owned confidentially and nobody noticed if you're having huge holdings. This currency kept hidden, and become a discreet asset that can be used for different purposes aside from trading. Several people around the world chooses to adopt to this blockchain system, because it expedites transaction and eliminates fiat money spending.

[elenag1142]

Bitcoin's advantages contrasted with banks are to an excellent extent hypothetical - on the grounds that its drawbacks far exceed them. So with Bitcoin you'll decrease the expenses surely activities, however then your cash will transform into an unstable venture which will go up or somewhere around various percents during a moment. What's more, it's extremely difficult to actually undergo it continuously on earth, you'd got to invest extra energy in going to the spots that acknowledge it, and needy individuals are regularly occupied or tired to try to to such things.

[KrisAlex18]

Nice post mate, this information is new for me, well there are still some people who still believe that bitcoin is scam because of so many reasons, in my country most of the people are also afraid of trying bitcoin and other cryptocurrency because of thinking that it is scam, they are not yet open about the benefits and how useful the cryptocurrency. They have thoughts that money can get only from hard work, there is no easy money as cryptocurrency so they are not trying it, luckily I have a friend who told me about this so now I am knowledgeable about cryptocurrency.

now they are putting bitcoin in the fight for racism?

Actually the OP is not talking about racism, if you will read and understand about the things he have said, you will see that he is just saying the fact about how black Americans think about bitcoin, just because you have read about black american, it is automatically a racism, just read and understand it and you will see that it is not like that.

[Eugenar]

Those black Americans think about cryptocurrency and bitcoin has something similar with the other people in our country because most of the people here are not believing bitcoin, they are only believe to the use of fiat currency because that is what they have when they have done working and not cryptocurrency. That is the thing that they are used for so long so adopting cryptocurrency in their mind will not effective unless they will spend more time learning about it.

Well, racism cannot be used here, especially considering the fact that the Chinese get the most profit from bitcoins, these are ASIC production and various exchanges. Therefore, dividing people by skin color or somehow else in this case is absolutely not recommended.

Yes, racism is not really good discussing in this forum, but did you read well what he have said? I think he is not saying something bad about black Americans so it is not racism for me, he are just saying about the opinions of the black Americans to cryptocurrency.

[Twentyonepaylots]

has nothing to do bitcoin with racist black or white united, all the same, no different even if white Americans really do not like bitcoin in price is not so good to be made in assets, providing knowledge bitcoin to be understood by those Americans who do not understand cryptocurrency people who do not know about it.

I can barely understand what you have wrote but I get the point. Talking about the race, gender, age and other personal characteristic is out of bounds from the bitcoin, bitcoin has nothing to do with that stuffs.
American, European, Asian whatever you are, you are free to be part of the decentralized network that affects the price of it. Stop being a racist, letting others down only shows your bad attitude.

[FAHRKERIM]

Everywhere, literally every subject has to go through a race lense. I just don't get it

[frankenmint]

I appreciate and commend OP's effort. all you curmudgens complaining about the race narrative can go live on some front-line neighborhood and get athsma becaue you earn enough yet you're still bein forced to live someplace detremential to your health... or having lived somewhere your whole life for it to only over time be stripped away from your neighbors and your families... gentrification is messed up and redlining is messed up and YET ITS A THING... so yep I'm all for pointing out advantages that can help others within my peergroup. Those who scoff at the op I would dare say ARE white americans....or are the default majority within their society (ie asians in your home nation)...so I get why you say "leave race (like politics) out of it" but I would rather see more black people learn about fiat currency and to learn about the ability to choose to hold bitcoin as a savings and spending vehicle that can actually help to bootstrap other businesses and/or keep money within the community...I know those seem like pipe-dreams from a 2020 standpoint but the potential or viable legitamte p2p commerce expands through crypto and the fees become a different form (instead of cc processing fees, its now mining fees - if we're talking an enclosed system where you earn and spend bitcoin directly).