Bitcoin is racist

[LeGaulois]

Bitcoin is racist according to the SEC. Heil Satoshi!
We trully live in a bizarre world nowadays  

I've read a lot of bullshits about cryptos, but this one is amoung the winners.
I thought I had heard the worst when Greenpeace attacked the Bitcoin network with the slogan: "Change the code, not the climate".

So according to them, Bitcoin (and altcoins ofc) creates financial damages to many minority investors because they don't have the knowledge to assess the risks associated with crypto.

In another words, Bitcoin makes them loosing money because people are lazy to learn where they're investing in...
L@@k at FTX and co...

We have observed that the volume of, and activity around, crypto assets have grown
significantly in scale over the last five years with very large fluctuations in value.
Many investors recently have suffered significant losses as a result of their
investments in crypto assets. It is estimated that these losses have been more than
$2 trillion.1
As a result of targeted marketing, 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

And

We believe that virtually all, if not all, crypto tokens are securities and that they, as well as the platforms and
custodians dealing with them, are subject to regulation under the federal securities laws to protect investors.
Accordingly, the offering of crypto asset securities and the platforms trading them should comply with the
registration, disclosure, anti-fraud provisions and other investor protector provisions of the federal securities laws.
We think it is very unfortunate and disturbing that there are legislative proposals to carve crypto assets out of the
federal securities laws and undermine investor protection.
The SEC should continue to be aggressive in bringing enforcement actions against companies that are violating the
federal securities laws in the crypto space, including, issuers, custodians and those acting as unregistered
platforms that offer trading in crypto asset investments.

https://www.sec.gov/files/20230406-iac-letter-cryptocurrency.pdf

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1714309766

[Hispo]

The dogs are barking Quixote.

A sign we move forward Sancho, a sign we move forward.

― Miguel de Cervantes Saavedra, Don Quixote: Man of La Mancha

[Zanab247]

BTC investment is different from other fiat investment because, once you miss the time to buy BTC and you buy it in a bull time it will be difficult for you to earn well from your plan. I don't think, BTC and altcoins can create financial damage in a society because is not a centralized currency that is be control by government and it pump when it is time to pump for those that bought when the price is low to start selling to make a good profits. If you can sell your coins in the bull market, I guess you will achieve a lot from your investment in the community because, it is the best way many investors use to win big income from the market.

[SamReomo]

Bitcoin is not racist and the funniest thing is that how could they even consider it a racist thing that is causing damage to minorities even they know that it's used all over the world by all races. The minority investors are living in ancient times, it's their fault that they lack proper knowledge about this innovation. It's responsibility of governments to teach them about this technology rather than blaming it as racist.

Risks are involved in every investment even stocks are volatile and can cause huge damage to those minority investors. Any investors whether a minority or majority should learn the basics of investing whether it's in crypto or any other financial asset. Risk management should be thought to everyone, no matter where they belong, but unfortunately no governmental institution teaches those skills.

[blckhawk]

The dogs are barking Quixote.

A sign we move forward Sancho, a sign we move forward.

― Miguel de Cervantes Saavedra, Don Quixote: Man of La Mancha

Pretty awesome quote, now I'm looking forward to reading that, been holding back on Don Quixote for a really long time, 'tis a sign I guess.

[hugeblack]

If you hear the questions in the investigation sessions that were against Mark Zuckerberg and the CEO of TikTok, you will find that many lawmakers have preliminary information about the new legislation and therefore what they see on TV and the media greatly affects their decisions.

Do not be surprised that some opinions may be biased (even though they know the argument is stupid) because of pressure groups and political money that may influence.
In general, everything will change with more investments.

[jossiel]

SEC should start differentiating those investors that goes in the stocks market without even idea what they're doing. Buying penny stocks and those overpriced stocks and losing them eventually.

I guess that they'll never change and they'll always give that "losing" statements always to bitcoin and to the whole crypto market but will never recognize those that are losing their bets, I mean with their investments on the stock market.

[pawel7777]

So according to them, Bitcoin (and altcoins ofc) creates financial damages to many minority investors because they don't have the knowledge to assess the risks associated with crypto.

They phrased that as "including many minority investors" so it's not all that bad. They're not accusing crypto of being inherently racist, not yet at least.
But it's pathetic how they try to lend some credibility to their actions by posing as "protectors" of minorities, women, climate or whatever.

And with USA being probably now less than 50% white, what does "minority" even mean?

[stompix]

Bitcoin is racist according to the SEC. Heil Satoshi!

Fortunately, it's not the SEC official position, this is a letter addressed to the chair of the SEC by the Investor Advisory Committee.

But still,

Nearly 44% of Americans who own and trade crypto are people of color, 41% are
women and more than 35% have household incomes under $60,000 annually

if more people of color (whatever this kind of stupid designation means) are investing in BTC how is that racist? Or is it racist that white people don't invest that much? 

So according to them, Bitcoin (and altcoins ofc) creates financial damages to many minority investors because they don't have the knowledge to assess the risks associated with crypto.

Which is basically the most racist thing to say, they are labeling minorities as dumb fucks who can't understand how investment and risks work, I really wonder if those guys have ever heard of logic or if they do think twice before opening their mouths or writing such a stupid thing.

[KFC786]

BTC investment is different from other fiat investment because, once you miss the time to buy BTC and you buy it in a bull time it will be difficult for you to earn well from your plan. I don't think, BTC and altcoins can create financial damage in a society because is not a centralized currency that is be control by government and it pump when it is time to pump for those that bought when the price is low to start selling to make a good profits. If you can sell your coins in the bull market, I guess you will achieve a lot from your investment in the community because, it is the best way many investors use to win big income from the market.

Bitcoin is very weep unpredictable in many case. As Same hing happened to me as I wanted to buy Bitcoin at 27800 dollars and it remained at that that price for almost a lot of time and than I decided to wait and it suddenly shoot up and that was not good for me. As I am saying that we should be very careful for theses Bitcoin momentums.

[Mate2237]

BTC investment is different from other fiat investment because, once you miss the time to buy BTC and you buy it in a bull time it will be difficult for you to earn well from your plan. I don't think, BTC and altcoins can create financial damage in a society because is not a centralized currency that is be control by government and it pump when it is time to pump for those that bought when the price is low to start selling to make a good profits. If you can sell your coins in the bull market, I guess you will achieve a lot from your investment in the community because, it is the best way many investors use to win big income from the market.

Apart from Investment, even trading has time to buy and sell. There are minutes and hours set to buy and sell in trading. And once you pass that stipulated time you can not buy again and sell again.
And also seen the OP Topic, bitcoin is not fully racism but to some extent. Why bitcoin is not racist yet because it cut across the whole world and everyone who come across it can participate. Therefore it is liberal and welcome all to it. And why I would also say bitcoin has an element of racism because bitcoin moves with dollar. Bitcoin payment is determined by dollar rate and not Fiat currency exchange rate.

[Gallar]

News like this always has pros and cons. Many consider BTC to be a speculative asset, due to unpredictable price fluctuations, an investment asset that has a lot of risks, without doing deeper research on the system and how it works. Things like this can make bitcoin's image damaged and look scary for people who are starting to invest in BTC.

Even though if you examine more deeply about the ins and outs of bitcoin, in terms of usability, in terms of security, and in terms of potential, bitcoin has a lot of potential that other assets don't have. but the problem is, many people see BTC from a negative side, without seeing the positive side of BTC.

And those who comment on the negative side of bitcoin are not only from ordinary people, but one of them is also an influential person, who also comments on the negative side of bitcoin.

[The Sceptical Chymist]

The SEC....well, I'd love to go on a fucking tirade about them and similar agencies and their press releases that don't get challenged except on forums like this, but I won't.  Suffice to say, I think they're using probably the worst (and most overused) thing to attribute to bitcoin in an attempt to continue the coordinated assassination attempt by the US government.  If the worst thing you could call something was sexist, they'd go with that.  Christ, if the SEC could go full psychotic and call bitcoin a registered pedophile they probably would, but people would *hopefully* see right through that.

Are they even talking about minorities in the US?  Frankly, if they're saying colored people (oh wait, I mean 'people of color') are over-represented targets of scams, I sure as hell haven't seen the evidence of that and bitcoin gatherings in the US have always seemed to me to be almost like white-boy frat parties--granted, I've only seen pictures, but even if there were a lot of minorities that still doesn't back up their higher-than-normal victimhood (supposedly).

I really wonder who's truly in control of the SEC.  My first guess would be a powerful group of Democrats with that cunt Elizabeth Warren somewhere near the top.  They obviously were taking orders from someone in putting out this hit piece, and I doubt they'd have done it of their own accord.

[coolcoinz]

This means that if you decide to invest in a business like metal detecting or hunting and you lose money doing it, it's the fault of the investment. It's the inanimate object that is at fault, not you.

Do you hear what these guy is saying? If you choose to buy bitcoin and then sell it cheap, losing money in the process, it's the fault of bitcoin, not you.
Makes me want to go to that guy's office and ask him in front of a camera: If I get a gun and shoot someone, is it my fault, or gun's fault? Who is responsible? What kind of world do we live in?
What does it change whether I'm a member of minority or not? Should we maybe give people back the money they lose investing in stocks because they're "vulnerable minorities"?

This dude is delusional! How can 2 investors be treated differently just because of race? If there's such distinction, maybe the SEC should create a fund that will cover their losses? I have a better idea! Maybe the FED should stop trying to make people lose jobs and make them lose 6% of their savings a year, because that's what devastates poor minorities, not their occasional crypto investments.

[paid2]

I thought I had heard the worst when Greenpeace attacked the Bitcoin network with the slogan: "Change the code, not the climate".

Isn't it Greenpeace which is financed by XRP fundation ? Funny 

https://www.sec.gov/files/20230406-iac-letter-cryptocurrency.pdf

Thank you for the link, very interesting (and a little bit hopeless too..)

7. Conduct examinations of broker-dealers and investment advisers focused on whether standards of care
are being followed when making recommendations and providing investment advice regarding cryptorelated assets.

So if I understand it well, American people will have the same kind of advertisements as we have for gambling, casino products and sportbets for crypto stuff ?
I am not sure that it never helped anyone, if it is like the messages on the cigarettes pack..

In any case, it's starting to get ridiculous with the SEC's attack on Bitcoin and cryptos. As The Sceptical Chymist said, I wonder who exactly is in charge of the SEC's communication strategy. It's amazing though, the more the financial system goes down, and down, the more the relentlessness grows... It would almost become an admission of weakness?..

[Faisal2202]

Bitcoin is racist according to the SEC. Heil Satoshi!
...
In another words, Bitcoin makes them loosing money because people are lazy to learn where they're investing in...
L@@k at FTX and co...

That's unique for me too, Like all they try to find a way to discourage crypto community in some way, hehe. well i would say nice try. Really, i would also agreed, that BTC is racist because it also makes me feel like, (why always market dump when i take entry in it) hehe. i know that's fun because i have a friend and he also noticed this thing and now he is using me as an indicator, like he said, you will just tell me when you want to take entry in market i will exit all of my entries. hehehe. I said ok, but that's will cost. hehe.

I know, that's some next level bullshit. In this way the stock, bond and every other sector life is racist because some are making more money and some are not. And what about education systems, in which students are categorized on the basis of there marks and more opportunities are given to the high grades students and less grades students are kept separated in other sections where they are treated less then higher grades ones. (is it not a racism act)

[uneng]

Lol, Bitcoin is the most democratic investment I'm aware about. It's very simple to start investing and it's opened to everyone who has some bucks on their pockets and minimal internet knowledge. I understand when regulators talk about the risks of investing in crypto assets, due to the volatility, lack of security offered by centralized exchanges and the high volume of hacks and scams, but to say Bitcoin is racist it's already too exaggerated.

Actually, it makes these authorities lose their reputation, because it's really ridiculous to make such statements which everyone is tired hearing about. Moreover, it's a blatantly excused used nowadays by people who don't have any other valid argument against the object they are trying to detract towards the public.

[Supreemo]

Lol, Bitcoin is the most democratic investment I'm aware about. It's very simple to start investing and it's opened to everyone who has some bucks on their pockets and minimal internet knowledge. I understand when regulators talk about the risks of investing in crypto assets, due to the volatility, lack of security offered by centralized exchanges and the high volume of hacks and scams, but to say Bitcoin is racist it's already too exaggerated.

Actually, it makes these authorities lose their reputation, because it's really ridiculous to make such statements which everyone is tired hearing about. Moreover, it's a blatantly excused used nowadays by people who don't have any other valid argument against the object they are trying to detract towards the public.

i don't think being racist in terms of crypto means that they choose whoever wants to invest in crypto, but it is more like the country that accepts bitcoin or crypto as means of investment since not every country accepts crypto as legal tender. we all know bitcoin is widely popular for being decentralize and only few countries are willing to accept the risk, and we should all know that bitcoin doesn't choose indiscriminately to whoever wants to invest or wants to accept this concept.

[mindrust]

Bitcoin is racist the way Math is racist. Math and Bitcoin has one thing in common. They never lie. You could say, truth is racist and still make perfect sense. People in the United States and their woke agenda is trying hard to paint stupid people clever but it is never going to work. Ugly is ugly, stupid is stupid, and 1 bitcoin = 1  bitcoin. Facts facts facts. You cannot bend them, you cannot change them. Immutability is a bitch.

[pawel7777]

Bitcoin is racist the way Math is racist.

They both are, you white supremacists!
"Radical teachers claim that saying 2+2=4 is white supremacy"
https://torontosun.com/opinion/columnists/lilley-radical-teachers-claim-that-saying-224-is-white-supremacy

It's hard to think of one single thing that has not been considered racist by some of the modern "intellectuals".
To name a few examples:

Coffee is racist: https://twitter.com/JournosPostLs/status/1646616370103173121
Criticising drug dealers is racist: https://twitter.com/hilaryagro/status/1645434719541010433
Eating meat is racist: https://twitter.com/LeoKearse/status/1645689277001367558
Being extraordinarily stressed and vigilant is due to racism: https://twitter.com/LeoKearse/status/1643355168497446912
Locking up expensive drinks that are often shoplifted is racist: https://twitter.com/ahmuhdayus/status/1639965010142154752

The list never ends