Bitcoin is racist

[Fiatless]

when SEC talks about users investing. they are not talking about bitcoin. they are talking about BUSINESSES with advertising budgets.. where BUSINESSES select their advert to their desired demography

Even if it isn't about BTC, but about businesses and their mode of advertisement, it does not still make the business racist simply because they have a target audience, i believe every business has a target audience, and if that be it every business can be accused of being racist by the people outside their target audience. Businesses want to make profit, and their customers have to research before using it, everything that happens after that has nothing to do with racism. Gullibility, greed, lack of research, etc, i can agree.

I am not an agriculturist so I have no business with investing or running a farm unless I decide to study the field. Bitcoin is not for everybody just like some other products. If it was racist some continents would not have access to Bitcoin. The government is the main racist because they discriminate against Bitcoin and limit its operation in most nations. It is the responsibility of any investor to do his homework about a prospective profit-making skill. If you don't have basic knowledge about an investment scheme there is no need to blindly invest in it. Most people that invest in the crypto sector without knowledge were brainwashed to believe that it is an easy medium to get profit in a short period.

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[CryptSafe]

I think they are all getting it wrong. Ignorance sometimes makes people act rashly without thinking or having a thought about something and seeing the good side of it before jumping to conclusion and making or passing judgement over bitcoin.


Looking at the topic matter of this thread, one would wonder if truly what OP has said is what is the reality today and if not properly understood, one would easily conclude and may take a make assumption that would lead them to taking a wrong decision. So I ask, if bitcoin were to be a racist development how come the world is glamouring for bitcoin. How come bitcoin is a borderless coin with no resistance? How come both black and white knows about bitcoin? Would it be possible that and individual could own a bitcoin if the government were involved in it? So I do not see any reasons why bitcoin could be a racist coin or project.

[thecodebear]

The funny thing about the SEC claiming crypto is bad because people have lost money from the ATHs is that they aren't saying this about anything else. They aren't making damning proclamations against Tesla, Amazon, and Facebook, for example, all of whom have lost 50% of their value the past couple years. That's just 3 companies who all by themselves have lost people $2 trillion in the same time that the entire Bitcoin/Crypto market has lost around $2 trillion.


It's just pure bias based on lack of education. It's easy to say something is bad when you don't understand it, even though you're saying it is bad for something that could apply in the exact same way to something you accept.

[JoyMarsha]

Big shame for the SEC as they label bitcoin as racist. While the fact remains that many people, irrespective of gender or race, accept and adopt bitcoin. This should be the most absurd claim about Bitcoin that I have ever heard.

In other words, their efforts to discredit bitcoin will not be heeded, and their assertion that bitcoin creates financial damage to minority investors is unjustified considering bitcoin has never promised anyone wealth but rather serves as a store of assets for those who wish to convert their assets to bitcoin at their own risk.

[JamesBorn]

Considering bitcoin as racist tells the highest level of hatred towards the project because bitcoin is known all over the world with an independent individual wallets. Bitcoin give access to every race weather black or white. Minorities income is not damage or affected by favouritism of the system, the market treats everyone equal it only depends on the volume of your income invested or the units of bitcoin you're controlling. Is a normal phenomenon to hate what is progressing ahead of time.

This project give rooms for choice investment, it gives room for independent investment and freedom of management and control within your wallet but haters are busy dragging bitcoin name to the mould.

[pawel7777]

Probably it's because I'm European but I really don't understand why everything, and I mean everything, in the USA has to be somehow racist and/or offensive to someone.

Because it pays! If you could exploit the majority demographic (whites), who, statistically is the most empathetic, most tolerant and has the weakest in-group preference, why wouldn't you?
Why accept the "colour blind" approach, if you could declare it racist (i.e. for being bling to black people's struggles) and introduce group identity politics instead - in which there's only one group that is not allowed to view themselves as a group and care for their own interest.

This is now spiraling down without control, the Californian "reparations task force" is a great example. There's a serious debate going on about how much people who have never owned any slaves should pay to people who have never been slaves in "reparations" for slavery. Apparently $5 million per head just for being black is not enough.

https://www.dailymail.co.uk/news/article-11918251/Five-million-little-California-reparations-taskforce-told-black-residents-7-6m.html

You can't make this stuff up.

[mendace]

Now to understand exactly how racist Bitcoin is, we need to analyze the data and understand by which people it is used, because exactly who is this technology aimed at? I think that today Bitcoin helps the people who need it most, those oppressed by the powers and those who are poor. So how can you even call it racist? The SEC is a racist who always speaks out in favor of the strongest.

[blue Snow]

true, bitcoin is racist, I just know that after opening Electrum wallet and finding color option Dark and Light.

In reality, we know who the actual racist is, yes, people who change the monetary system after Bretton Woods.

Now to understand exactly how racist Bitcoin is, we need to analyze the data and understand by which people it is used, because exactly who is this technology aimed at? I think that today Bitcoin helps the people who need it most, those oppressed by the powers and those who are poor. So how can you even call it racist? The SEC is a racist who always speaks out in favor of the strongest.

Bitcoin users are almost evenly distributed in every developing and developed country and can be owned by anyone without looking at their status, skin, hair, religion and etc. Because of that bitcoins fast growing in developing countries and are very liked by young people who don't think on their status.

[odolvlobo]

...a significant amount of these losses have been
borne by unsophisticated investors, including many minority investors seeking rapid
investment growth without the knowledge or information to assess the risks
associated with such investments

The quote itself is racist, implying that minority investors are not capable of assessing risks, while non-minority investors are.

[darkv0rt3x]

The claim that all these things are racist seems more of a fouls talk. Shit chat! Bitcoin is probably one of the most fair / just and impartial piece of technology ever created! Check those AI chats around. The censorship the slightest language usage. They claim to be AI models and that they have no emotions, yet they know if a question, a sentence or an opinion is harmful, offensive or whatever. If it cannot fell emotions how the hell they know what "offensive" means? lol

Bitcoin doesn't care about your skin colour, the depth of your pockets or if you're a child molester! It is here for anyone. The mind of each one is the one deciding what to do with it and that is the biggest problem. Troubled minds will make the worse out of Bitcoin. But there is also the other side of the coin. Bitcoin was created with good intentions and we should work towards those good intentions and our conscientiousness will stay with us. Nature will also take care of the weak and the strong!

[GideonGono]

LOL those kind of clowns are the best, this is why I love crypto not only it is an investment but sometimes it is also an entertainment.
There are dramas everytime it goes down and of course let's not forget those comedian's and some prophet who see's the future price.
But honestly it's not wrong at all since what they stated is true if you'll think about it.
There are so many people who loss their money because they don't really know what they are investing on, and they just invested blindly believing that those investment could make them rich quickly.

[jeraldskie11]

I giggle at the thought of Bitcoin being racist. Normally, the term racist refers to people who are prejudiced and discriminatory, but according to what I've heard, Bitcoin is racist. Bitcoin is available to anyone and, as far as I can tell, there is no discrimination; anyone can use it. There is no justification for them to label it racist because people with disabilities, white people, black people, and people from all over the world are free to utilize it. So, if they're about to argue that Bitcoin is racist because they don't know enough, they should first learn before entering the crypto world.

[Minecache]

I think they are all getting it wrong. Ignorance sometimes makes people act rashly without thinking or having a thought about something and seeing the good side of it before jumping to conclusion and making or passing judgement over bitcoin.


Looking at the topic matter of this thread, one would wonder if truly what OP has said is what is the reality today and if not properly understood, one would easily conclude and may take a make assumption that would lead them to taking a wrong decision. So I ask, if bitcoin were to be a racist development how come the world is glamouring for bitcoin. How come bitcoin is a borderless coin with no resistance? How come both black and white knows about bitcoin? Would it be possible that and individual could own a bitcoin if the government were involved in it? So I do not see any reasons why bitcoin could be a racist coin or project.

They don't get it wrong, my friend, they know bitcoin better than we do, but they always make accusations and slander about bitcoin because they can't find any weakness in bitcoin, and they are trying whatever they can think of. It was also recently reported that the SEC chairman said that the collapse of banks was caused by cryptocurrencies, which is another bullshit allegation intended to cover up their weakness and seek to place the blame on crypto. In my opinion, they are just trying to find a way to smear the reputation of bitcoin to keep people away from it.

[theskillzdatklls]

At least I can sleep at night knowing that Bitcoin isn't transphobic, for now.

[jostorres]

I giggle at the thought of Bitcoin being racist. Normally, the term racist refers to people who are prejudiced and discriminatory, but according to what I've heard, Bitcoin is racist. Bitcoin is available to anyone and, as far as I can tell, there is no discrimination; anyone can use it. There is no justification for them to label it racist because people with disabilities, white people, black people, and people from all over the world are free to utilize it. So, if they're about to argue that Bitcoin is racist because they don't know enough, they should first learn before entering the crypto world.

Who doesn't know that? Maybe someone who has absolutely no knowledge about Bitcoin or blockchain technology in general, because anyone with even the basic knowledge would understand that it's a technology available for the masses and it doesn't really care for who it's being used by, so there is basically no concept of racism when it comes to Bitcoin or any technology in general.

All these are nothing else but plots to regulate cryptocurrencies and every single platform, project, and firm, that is dealing directly or indirectly in cryptocurrencies and they will continue to do this by making such absurd statements.

[Supreemo]

At least I can sleep at night knowing that Bitcoin isn't transphobic, for now.

exactly! i don't really see bitcoin as racist since anyone can buy it as long as it is accessible in your country, and as much as i don't really trust banks, i'd rather put my money on something that i can earn although it is much volatile than letting other people use my money (banks).

[Ale88]

Probably it's because I'm European but I really don't understand why everything, and I mean everything, in the USA has to be somehow racist and/or offensive to someone.

Because it pays! If you could exploit the majority demographic (whites), who, statistically is the most empathetic, most tolerant and has the weakest in-group preference, why wouldn't you?
Why accept the "colour blind" approach, if you could declare it racist (i.e. for being bling to black people's struggles) and introduce group identity politics instead - in which there's only one group that is not allowed to view themselves as a group and care for their own interest.

This is now spiraling down without control, the Californian "reparations task force" is a great example. There's a serious debate going on about how much people who have never owned any slaves should pay to people who have never been slaves in "reparations" for slavery. Apparently $5 million per head just for being black is not enough.

https://www.dailymail.co.uk/news/article-11918251/Five-million-little-California-reparations-taskforce-told-black-residents-7-6m.html

You can't make this stuff up.

That is for sure. I know that at the end is all about money, I remember reading articles about the huge houses that BLM founders bought using money from the donations they got for example. Let's say that I'm not surprised that there are people exploiting the system for their own interest, I'm surprised by the amount of common people how actually follow them and share their "ideas". Instead of bringing people together I feel like they're trying to set them not even apart but one "group" against the other. It's ridiculous.

[Gyfts]

I don't know why anyone would be surprised. It's standard operating procedures for Critical Race Theory (CRT) to be introduced even in the most irrelevant contexts. CRT being, that everything is inherently racist to the core. So under the CRT logic, Bitcoin is inherently racist because minority Bitcoin owners lost money when the crypto market dropped.

It's the bigotry of low expectations. They believe minority crypto owners are inept and don't understand the risks of crypto fluctuation such that the SEC must come in and regulate the space. An untenable position but the CRT folks see the world through the lens of race.

[Ale88]

I don't know why anyone would be surprised. It's standard operating procedures for Critical Race Theory (CRT) to be introduced even in the most irrelevant contexts.

I repeat, that is probably a standard operating procedure (copying your words) for the USA, not for the rest of the world. I'm European and my experience with the USA is kind of weird because, to be honest I've never seen such a political and social mess, I've always heard the USA were a melting pot of different cultures and people working and supporting each other, that is not my experience at all, the majority of people just tolerate each other, which is way different from supporting. It's a very unhealthy and dangerous way of living, if things don't change the situation could really reach a critical point.

[bangjoe]

Big shame for the SEC as they label bitcoin as racist. While the fact remains that many people, irrespective of gender or race, accept and adopt bitcoin. This should be the most absurd claim about Bitcoin that I have ever heard.

In other words, their efforts to discredit bitcoin will not be heeded, and their assertion that bitcoin creates financial damage to minority investors is unjustified considering bitcoin has never promised anyone wealth but rather serves as a store of assets for those who wish to convert their assets to bitcoin at their own risk.

It's just that they ran out of words to criticize Bitcoin and give Fud to so what's on their minds, they took it out even though it was a stupid move, Sec generalized racism between whites and blacks mixed in bitcoin, lol

I think they are not investors but traders or it could be that they are not investing in bitcoin but those minority investors are investing in shitcoin which is getting them a return which is detrimental to their finances, and it is true that bitcoin never promises to make someone rich bitcoin only offers comfort in transactions. So who is actually wrong, they shouldn't discredit bitcoin.