Bitcoin is racist

[KiaKia]

I would have said that they lack the knowledge about Bitcoin and they need to look at the bigger picture what Bitcoin is all about, but don't be surprised, these people understand perfectly how Bitcoin works and why Bitcoin also existed, they lack nothing about Bitcoin, all these shit is intentional to keep going after Bitcoin and maybe cause a bigger hatred on the digital currency. Now it's Racist? I think they are losing at their own game already, their plans are not effective and they don't like it.

Anyone is free to say whatever they want about Bitcoin, those who believe will keep investing and accumulating Bitcoin no matter what, when things get this serious with a new technology it shows that the technology is working.

Newspapers called the internet the devil's tool years ago, they said the internet is a brainwashing devil's device that will take over the world in the future, now we are in the future where Newspaper companies now use the internet, they were only trying to save their business.

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[Renampun]

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

hahaha, saying bitcoin is racist, sounds like the SEC is running out of ideas for FUD. I thought hard, where is the "racist" Bitcoin, I see that the lives of many people have changed 180 degrees for the better since bitcoin appeared and bitcoin belongs to everyone.
besides that most investors who lose are the result of their own actions, they are too greedy for the investments they make in bitcoin, they even panic when the market is bearish, so as long as they don't sell then the 1 bitcoin they have is still 1 bitcoin, nothing has changed.

[gunhell16]

That thing is funny. I don't understand how Bitcoin became racist. Being racist is that Bitcoin can never do this because it is a digital currency in my understanding.

Because being racist depends on each individual, only people can do being racist, in fact, the word racist has nothing to do with Bitcoin, it's too far away. We know that Bitcoin is an example that is a good investment in the long term and can be used as a gateway payment in different parts of the world.

[franky1]

bitcoin has no ears eyes or brain

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

for instance FTX done alot of advertising through sports clubs. meaning they aimed their target audience not at wallstreet guys. but instead average joe that usually make foolish bets on sports events.

they also done a separate advertising campaign. not on the investment of assets. but on the shares of FTX companies to elite investors. celebrities etc. as a way of getting secondary investments through fame/name recognition.

so the SEC comments are not about bitcoin(though they pretend it is), the comments are(should) be about businesses abusing its customers gullibility/greed, by seeking gullible/greedy customers

you see this alot,
when big institutions see a good asset at a low price. they stay quiet and only tell their closest allies. when its time to sell they try to offload it on the gullible average joe

for instance with gold
when prices were low you always seen adverts about businesses willing to buy gullible peoples jewellery for cash..
when prices are high you see adverts telling people to invest in gold.

and yes some do actually target specific ethnic groups as part of their campaign
take robinhood. it had adverts not of wallstreet guys but of black people lesbians, retired people. trying to look inclusive.. but wipe away the PC stuff you can see they are not interested in promoting it to investment firms/rich/economically knowledgable

[Lucius]

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

I was immediately relieved, because I thought that everyone who has anything to do with Bitcoin will be given another label - and we are already running out of space for all the labels that have already been applied to us.

I can still somewhat understand that they accuse us of destroying the environment, that the world will remain in the dark because Bitcoin will consume all the electricity, up to the point that we finance terrorism and launder hundreds of billions of dollars through Bitcoin - but to bring Bitcoin in any way in connection with racism is one of the biggest nonsense. Those geniuses definitely deserved the Nobel Prize for stupidity...

[Z-tight]

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.

[NotATether]

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

These people need to stop using social media and go see a therapist. It has come to the point where people are getting offended over small basic things, and that's because they are bored and have nothing to do except for tapping away on their phones and reclining on their couches watching XYZ News Network.

[franky1]

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.

every business does have a target audience. but when one business gets tooo specific where the obvious target is skin colour. then its racism if that businesses end goal is to harm and not benefit such customer

EG a make up company that specialises and advertises dark skined foundation is a benefit to them VS
sub-prime mortgages scamming black people is a harm to them

so if a investment scheme was promoting directly to one demography where the greedy business knows it wants to leech value away from that demography. that business is racist.

but i can see you wish to blame black people for taking up sub-prime loans decades ago rather than blame the banks for mis-representing what they offered and purposefully pushed it on a certain demography..

[hZti]

For me bitcoin is one of the most non racist projects I know. Think about it: Millions of strangers from all over the world that contribute to one common goal to make the world for everyone better. There is no place or person on earth that can not use bitcoin. To me this thread is obvious sentiment against bitcoin that has no basis at all.

[kryptqnick]

I think that the claim about minorities not having knowledge to assess the risks as something that should count against Bitcoin is a huge stretch. The same could be said of literally any other form of investment because the problem is unequal access to knowledge in general. It could also be used against banks because similarly, minority users have less knowledge of the risks associated with holding money in a bank, for instance, and it's also probably kinda true, as with Bitcoin.
I'm also not sure what they mean about target marketing because Bitcoin isn't a company that has ads and a target audience for those ads. And if some businesses target vulnerable audiences, it's those businesses that should be condemned for specific cases and practices, that has nothing to do with Bitcoin.

BUT, forgive me for asking, does the SEC really mean Bitcoin here? They say 'crypto assets' and AFAIK the SEC remarked several times that they don't think Bitcoin is a security and don't regulate it.

[bluebit25]

Sometimes I also wonder why they only see the negative about the market but refuse to acknowledge the positivity it has brought in life. And I agree that the problem is with yourself and not with bitcoin or anything, blaming the product or any of the tools is simply a bigotry and hatred in each person. people who have not filtered these things out of their hearts.
Although false and negative information about the cryptocurrency market can negatively affect the development of this market. However, the truth is always exposed from time to time, in contrast to positive and accurate information that can promote the development of the cryptocurrency market. This information could be about major institutional backing, new developments in blockchain technology, or cryptocurrency product innovations. So in the field of cryptocurrency, research and evaluation of information is very important to make decisions such as buying or selling cryptocurrencies.

[zenaku]

Bitcoin is bitcoin.
Retailers lose money to dirty pyramids that promise exponential returns.
The risk is assumed by the buyer at the time of entering the scam.
Anyway this is an exchange of hands, the big shots eat the little ones
What fish do you want to be?

[Stella Mese]

the debate about btc from the past until now has not been completed.
which of course there are those who like btc and those who don't, but in my opinion we have to accept reality because everyone's views are different, some are in favor of bitcoin and some are not.

I think it's the result of people who have a negative view of BTC because those people don't know about BTC and the science of investing in BTC, so they have a negative view of BTC.
and maybe there are btc investors who are greedy so that all their assets are used to invest in btc and lose, and this is due to the stupidity of btc investors who don't know about the science of investing in btc, and end up suffering losses. and finally popular news about people who invest in btc experience losses, and finally many people think investing in btc is something that is detrimental.

In my opinion, don't blame BTC, and if you're not ready for losses, it's better not to invest in BTC.

that's why many people say that if our want to invest in btc, our have to be prepared for the risks.

and me as a person who invests in btc with the news the pros and cons of btc are commonplace.

[wxa7115]

Sometimes I also wonder why they only see the negative about the market but refuse to acknowledge the positivity it has brought in life. And I agree that the problem is with yourself and not with bitcoin or anything, blaming the product or any of the tools is simply a bigotry and hatred in each person. people who have not filtered these things out of their hearts.
Although false and negative information about the cryptocurrency market can negatively affect the development of this market. However, the truth is always exposed from time to time, in contrast to positive and accurate information that can promote the development of the cryptocurrency market. This information could be about major institutional backing, new developments in blockchain technology, or cryptocurrency product innovations. So in the field of cryptocurrency, research and evaluation of information is very important to make decisions such as buying or selling cryptocurrencies.

Those which are always ignoring all the positive things that bitcoin brings do so because that is their job, they try to find things wrong with bitcoin and make a big deal out of it.

Bitcoin is nothing more than money, and as we know money is not distributed equally among the population, there are those which have a lot of it and there are those which have very little, if we used their deluded standards then fiat currencies will be the most racist form of money that exist, but since governments are the ones that print it then they simply ignore this while still trying to use this flawed argument against bitcoin.

[Ale88]

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.

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. Racism is a serious problem and a word that should be used wisely, in reality it gets thrown in in every topic, even when clearly it has nothing to do with it. If some minorities are more ignorant maybe there is a problem with the schools and the neighborhoods, so maybe, I say maybe, the problem comes from the local institutions and the government, no?

[Fundamentals Of]

It is really ridiculous and irresponsible for a government agency such as SEC to mislabel a technological innovation as if it is biased. Bitcoin is neutral. I don't even understand those who link Bitcoin and gender as if Bitcoin is deprived to women or men. Bitcoin cannot discriminate. It is even more surprising to link Bitcoin with race. How can Bitcoin even tell if a transaction is done by a white man or black man? Bitcoin cannot tell whether a transaction is made by somebody with a PhD or by somebody who just finished prep. Bitcoin does not even discriminate saints from criminals.

[davis196]

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

I can't see how did you come up with the conclusion that Bitcoin/crypto is considered racist by the SEC.
Actually SEC is racist, by dividing the investors into "minority" and "majority". The investors are investors, their race and ethnicity doesn't matter. Of course, many people from the minorities aren't financially educated, but we can say the same thing about many white people as well. Many crypto companies have conducted misleading marketing in the past. I agree that the SEC must punish all shady crypto companies, that are scamming their customers. There's nothing wrong with that SEC statement.

[Kakmakr]

They are not saying that to highlight racism, they are saying that to hide their greed. You have to remember one thing, the SEC represents a small group of super rich people, who gets paid for financial advice. Where do people go for financial advice? .... they go to financial brokers that are selling financial instruments that are owned and managed buy large investment firms.

The old Fiat system will do anything in their power to protect their knowledge and power that they sell to uninformed citizens and the rich old farts like Warren Buffet will continue to criticize Crypto currencies to discredit it. 

[justdimin]

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...

Lol, the poor people-the government made poor by discriminating against minorities has been looking for a way of making more money and risked too much on a third party currency because they knew that government wouldn't let them get rich with fiat, so we are not going to be letting bitcoin continue with this racist move... They must be really drinking some strong stuff, or smoking it I am not sure.

It should be considered that those minorities finally found a place where they could be equals to everyone, their color, religion, race, nationality, nothing matters. Only thing matters here is your investment and how talented you are. If minorities are poor, that is because of governments not giving as much to those as they give to biggest voter base.

[Assface16678]

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

It's not about being racist    it's just the people who have no knowledge or didn't research to crypto. They are so lazy to research because bitcoin is number 1, they think it's a quick income but suddenly they realize that tlbitcoin is a long term. You can't fix this because it's literally normal so you just watch them how lazy they are.