Bitcoin Boom Helps Fuel Neo-Nazi Movement

Bitcoin has quadrupled in value over the last six months and among the biggest winners are some white supremacists and neo-Nazis.

The Washington Post reports:

After Charlottesville’s bloody Unite the Right rally in August, technology companies tightened rules against hate speech and banned many extremists from using Web hosting services, social media platforms and online payment systems.

But some on the farthest edges of the political spectrum soon found an effective tool for thwarting this industry crackdown: bitcoin.

Even before Charlottesville, Richard Spencer, a prominent member of the alt-right, a movement that espouses racist, anti-Semitic and sexist views and seeks a whites-only state, had gone as far as declaring bitcoin “the currency of the alt right.”

Extremist figures who invested in bitcoin as a bulwark against efforts to block their political activity now find themselves holding what amount to winning lottery tickets. The proceeds could be used to communicate political messages, organize events and keep websites online even as most mainstream hosting services shun them, experts say.

  • netxtown

    no bitcoin for me. Only one way I want anything to do with dick spencer: face down, ass up.

    • Rambie

      I wouldn’t touch him even then, unless it was with a cattle prod

      • johncAtl

        Baseball bat. Head. Happy thoughts.

    • Bubba in TX

      Just to be clear, which one of you is actually in that position?

      • netxtown

        him. he gets a hot beef injection of sweet homo love.
        (cuz no way he’s gonna spew any hate at or in me!)

  • From what I’ve read, it’s also used a lot by North Korea. (e.g. http://money.cnn.com/2017/12/12/technology/north-korea-bitcoin-hoard/index.html )

  • SoCalGal20

    Can somebody explain to me how bitcoin is different from tulip bulbs or the dot com bubble?

    • OdieDenCO

      tulip bulbs can be eaten while destitute.

      • Mrs. Councillor Nugent

        My mother once told the story of some relative of our elderly neighbors who served up sliced daffodil bulbs instead of onions.

        • Gay Fordham Prep Grad

          The Dutch ate the tulip bulbs during the occupation.

    • Well, its value is a lot more volatile than the dot com bubble was.

    • Tom Mears

      The theory was that it would be used widely in commerce—it’s not. Or at least not in legitimate commerce. Worthless bits of paper and bits of 1s an 0s only have real value when they facilitate transactions. BitCoin’s exchange rate currently is related to its scarcity and the fact that it is being hoarded. The volatility is due to some people being coaxed out of hoarding mode due to the high exchange rate. They sell out and the price drops, precipitately. Right now there are enough new stupid people coming into the market to buy and then hoard on the dips and keep it propped up. At some point a sell off will happen when there are an insufficient number of new stupid people. This will trigger a panic, and it will lose 90% of its value over a few days.

      Its actually becoming a terrible currency for crime lords. Everyone says its anonymous, but that is wrong. Every transaction is tracked as part of the blockchain and permanently recorded. The anonymity comes from the nature of the exchanges. But they are quickly becoming legitimate businesses like any bank. A subpoena can open them up now like never before.

      • Rambie

        Exactly! I just said below that I’ve long thought the Russian hackers are pumping up BC to cash out and move to a new virtual currency.

      • olandp

        Unfortunately at the moment it seems that stupid people are a renewable resource.

      • SoCalGal20

        Thank you! Very informative!

    • Bad Tom

      Bitcoins require terawatts of electric power. So did the dot coms.
      Tulips are entirely non-electric.

  • Tawreos

    This makes feel better knowing that Bitcoin lost about 25% – 40% of its value last week.

  • Harveyrabbit

    Alt-right leader Richard Spencer [AKA Dumbass Nazi] is a finalist for Texan of the Year, an annual recognition the Dallas Morning News gives to Texans who have had a big impact, either positive or negative, over the past year.

    https://www.rawstory.com/2017/12/richard-spencer-could-be-named-texan-of-the-year-by-newspaper/

    • Vista-Cruiser

      I suspect that most Texans secretly consider him to be a role model.

  • Matt G, Rochester

    How much did the sudden drop last week hurt them? Or were they responsible for it, cashing out their profits?

  • Boreal

    Time for hackers to take down the Neo-Nazi accounts.

  • Boreal
    • Ninja0980

      You’re warmer then us by two degrees!

      • Boreal

        It’s warmed up quite a bit from -7F when I got up.

    • DaddyRay

      Currently -5 here

    • Too cold!

      I told my wife once that I’d apply for a job at MS, and she replied “You don’t even like the cold we get here, how in the world would you handle it up there?” :p

    • Michael White

      Here it is -4 with windchill of -18.

      • vorpal

        Silly North Americans.
        It’s a comfortable summer day at 66F here right now.

    • GayOldLady

      It’s 27 here, I’m thinking about working on my tan today.

      • TuuxKabin

        Good morning Dollingk. That will be our high temperature today, down to 11 tonight. The electric blanket is coming out.

        Your tan is most likely going to be frostbite.

        • GayOldLady

          Good morning Darlin. I’d be in pain this morning if I was battling the temps you guys have. I’m trying to talk, you-know-who, into going very far south and soon, but she says she has “business” to take care of before we can go.

          Hope the electric blanket does it’s job, if not Mr. Danger will have to hold you closer.

          • I’ve suggested to my wife before that we could move to Taiwan, where I was born. It’s 63°F there right now (and just after 10:00 PM). I think the only time she ever actually considered it was right after Trump’s election.

          • GayOldLady

            I don’t know about Taiwan, but you’re young and if you want to do it then you should. I’m more in to Southern Florida. It’s 77F in Miami right now and 65F at the beaches in St. Petersburg, FL, which, by the way, are the most gorgeous white sand beaches in the world. I’m a warm weather woman, that’s one of the reasons I live in the South, but where i live isn’t far enough South at this time of year.

          • vorpal

            After living in Canada for most of my life and suffering through ~8 hours of “sunlight” (usually cloudy, grey skies) a day in the peak of winter and temps that varied across the year from -15F to 105F, I’m glad to live somewhere now where the skies are almost always sunny and blue during the day (we get less than 2″ of rain a year) and seasons don’t exist: it’s always a comfortable 55F to 75F.

            I’m determined to never do winter again. If I need a snow fix (never), I can drive up to the telescope and roll around in the snow at that altitude.

          • …it’s always a comfortable 55F to 75F.

            *jealous* :p

          • vorpal

            Haha… I shouldn’t mention, then, that to the west, the Pacific Ocean stretches out into the horizon, and to the east, the snow-capped Andes surround us. We live right in a comfortable area where much of the amazing wine and pisco of Chile is produced and sold at absurdly low prices.

            Now I just need to actually work on my Spanish skills. After being here for 3.5 years, it’s hard to justify how much they still suck.

            We were originally planning on only being here 2-3 years and then moving back to Hawaii, but with the current political situation, we’ll hold off on that.

          • Bj Lincoln

            I grew up just south of Cleveland in the ‘snow belt’. We had snow by the end of Oct. until the thaw in late March/early Apr.. The real bad snow has changed but it is still cold from the Arctic air from Canada and ice storms. It is always grey. We averaged 65 sunny day a year. No wonder everyone is on an anti-depressant. We moved to Maryland 9 years ago and they don’t get much snow or cold. They average only 65 cloudy days a year and Spring to Fall is warm and sunny. I love it!

          • vorpal

            I hear you. In Canada, it wasn’t so much the snow or cold, but the grey skies and short days that did me in. We could easily go eight weeks without seeing the sun.

            Every year around November, my SAD would kick in and combine with my ADHD so that I was barely functional. I couldn’t remember the simplest things and felt constantly confused and depressed until around late January or so. I hated it. I would always consider trying another antidepressant, but I had such bad experiences with them in the past that I resisted.

            Since living here, I have pretty much never experienced more than a single day of depression.

          • TominDC

            There’s a part of Canada that gets to 105F in the summer?

            I lived in the country for a few years, and I don’t think the summer temps ever got up above the 80s.

          • vorpal

            I think I may have misremembered. In Ottawa and Toronto, though, you’ll get a week now and then of mid-to-high 30C. I was probably factoring in the humidity into that.

          • TominDC

            Ah, I loved Toronto. The summer weather there is just about ideal for me. If only I could afford to live there for the nicer half of the year, and the rest somewhere else…

          • vorpal

            Wow… really? We are quite opposite, then! We lived in Toronto for about six years together (and I lived there a few times before for shorter periods) and we hated living in Toronto more than anything: unfriendly people, smoggy summers, bad restaurant food (unless you’re willing to pay through the nose), too crowded for our tastes, and the outdoors were just too far away.

            When we finally got word that we were leaving Toronto, we both cried with relief.

            Hawaii was actually far more comfortable in the summer (well, it doesn’t vary much across the year, of course) than Toronto.

            That being said, we are homebodies who don’t wander far outside out domicile, and Toronto does have a lot to offer for people who enjoy getting out and attending events.

            There’s a hypothesis in Canada that if you grew up in Toronto, you can’t imagine living anywhere else, and if you grew up anywhere else, you hate Toronto with an unholy passion.

          • TominDC

            Oh yeah, we’re definitely opposites.

            I found Toronto residents to be similar to New York people – they’re not unfriendly, they just want to get shit done and you’re making them late. Or maybe I’m just one of those cold unfriendly people. Heh.

            Now, living in Hawaii is my idea of hell – stranded in the middle of the ocean with no way to get to the next city without spending hundreds upon hundreds of dollars on airfare. It seems a lovely place to visit for a week or two, but I’d probably shrivel up and die if I had to move there.

          • vorpal

            Yes, definitely opposites :-). In Toronto, I had trouble with the fast pace, and the fact that people in big cities, by default, are trained to ignore anyone who tries to talk to then. (I was guilty of that, too, when I lived in Toronto.) I would sometimes just ask someone who clearly was wearing a watch for the time and they would just ignore me and walk by, which I found cold and uncomfortable.

            The gay scene in Toronto also really bothered me after I was married. When I was first coming out, it was fantastic, but when we first were married and we were still fully monogamous, people often looked at our relationship as a “challenge,” which I thought was extremely disrespectful.

            Also, TTC. Waiting 30 minutes in winter for streetcars that are supposed to come every five minutes, watching them pass reliably in the other direction, only to then have six all come in a row. Made me want to scream.

            I know lots of people who go to Hawaii and despise it, especially if you like excitement and are single, as it’s difficult to meet people: if you’re on the most populated island, Oahu, much of the people there at any given time are tourists. On the other islands, the cities are all very small. Hilo, with 40k people or so on the Big Island was the perfect size for me: it was big enough to have everything I needed, and small enough to never feel crowded or overwhelming. Going jogging at night and then jumping into an ocean cove under the coconut palms and the clear, starry sky with four sea turtles swimming around me was my absolute bliss.

          • agcons

            Quite a few areas of south-central BC can reach those summer temperatures no problem.

          • TominDC

            Where exactly do you mean by “south-central BC”?

            I don’t believe Kamloops/Kelowna get that hot (105F/40.6C).

          • agcons

            Kamloops gets that hot every summer, but not if you look at the official temperatures (which are taken by the airport, some distance west of the city). I lived near Kamloops throughout the ’90s, and downtown temps were well over 40 C in late July and early August, every summer. The towns of Merritt, Osoyoos, Lytton, and Lilloet can also get this hot, especially Lytton.

            I don’t know about Kelowna, but any time I was there in the summer it wasn’t nearly as hot as Kamloops.

          • TominDC

            Huh. That’s very interesting, and useful information. Thanks.

            I’ll have to keep that in mind when I’m semi-seriously planning on my escape from the US to a saner country.

          • Hee, I’m only joking when I say that, which usually comes after complaining about the cold. Moving there wouldn’t be fair to her; she doesn’t speak the language (other than the Chinese she’s picked up from being with me), and she’d be stared at in some places there (in some parts of Taiwan, some people tend to stare at foreigners).

            I’m with you on the warm weather. We live in Atlanta, Georgia, but Florida would be nice too! I guess the problem is that, of the four cities I’ve lived in during my life so far (Taipei, SF, LA, and Atlanta), Atlanta is the ‘coldest’ one, ha ha.

          • vorpal

            我真的想在台灣去。

          • 台灣真棒

          • vorpal

            普通話,我不知道了你看得懂。
            我學了四年了,可是很長的時間沒有練習。

            (That was pretty bad, I’m sure.)

          • It’s fine. I don’t use speak it often, except with my parents or (sometimes) extended family members. Though my wife told me once “I accidentally bumped you when you were sleeping, and it sounded like you swore at me in Chinese.” :p

          • djcoastermark

            Hubs wanted to go to the beach today, (St Pete Beach) but alas, I have several doctor appts today. What a waste of a day that is to get to 79 degrees. Oh well, there’s always tomorrow. I know, tomorrow is always a day away. 🙂

          • GayOldLady

            Sorry you have to go to doc, but envious that you’re near the St. Pete Beaches. My favorites are the beaches between John’s Pass and Clearwater. They’re not as spoiled by high rises as some Florida beaches. My Favorite, Indian Rocks Beach!

          • djcoastermark

            I took a big leap almost 30 years ago and moved to St Pete. (I hate cold weather) Best decision I ever made. Last year I made a trip up north in the winter and experienced snow for the first time in 25 years. Pretty to look at, fun to sled ride for the day, but after that, I’m done with that blasted cold weather. Couldn’t wait to get back home. As far as beaches, we usually go to Sunset Beach as it’s only 10 minutes away and we can find free parking. My fave beach to get some empty beach space is of course Fort DeSoto, or take the ferry over to Egmont Key with its stunning water color.

          • GayOldLady

            I so envy you! It was always my dream to live in the St. Pete area. I love the city and I love the beaches and there’s so much to do, so many great restaurants and so many beautiful sites. And I’ve visited Ft. DeSoto many times so that I could take my dogs for a stroll on the dog beach since none of the St.Pete or Tampa Beaches allow pets.

            And I hate the cold, with age it only gets worse. I live in TN and we have winter in spells beginning in November and lasting into March. I hate when the leaves fall off the trees and everything turns brown because I know it won’t be long until the cold, rainy, dreary winter weather arrives. We usually visit your area once a year, and it’s our plan to be in your neighborhood before Spring. I can hardly wait.

          • djcoastermark

            Let us know when your in the neighborhood. Maybe we can meet up for dinner or drinks or something. edit, Honeymoon Island in Dunedin has a dog beach too. I actually like the dog beach there better than the people beach side. Dogs are also allowed in the redneck riviera beach off the Gandy bridge in St Pete. Gulfport has a section of the beach that also allows dogs.

          • GayOldLady

            Thank you for the invitation, that’s very nice of you. And thanks for the info on other dog friendly beaches.

          • djcoastermark

            Hope we get to meet up while you are here. We have met several other JMG’ers when they were in town. It’s always nice to meet and have face time with people you “talk” with all the time. Here’s a link to the beachcam of sunset beach where we go. Sometimes the camera doesn’t properly scan, but even if it gets stuck, it’s still cool. Normally it rotates thru 3 different positions, but today it seems to be locked on the boring part. http://www.earthcam.com/usa/florida/treasureisland/sunsetbeach/?cam=sunsetbeachti

          • GayOldLady

            Thank you sir for the invitation. It would be fun to meet you. And thank you for the beach cam. I’ve never been to Sunset beach but I’ll make it a must see next time we’re down.

          • djcoastermark

            Cool ! And after looking at the cam today, I’m grabbing hubs and we are going for a walk there on the beach. You might see us there in a bit.

          • GayOldLady

            I saved the cam, wave when you pass

          • djcoastermark

            We did wave a couple of times.

          • Ragnar Lothbrok

            I woke to minus 12.
            You have made me very unhappy!!!

          • djcoastermark

            EEEEEK ! Minus 12, nah uh, no way, no how, ain’t gonna happen. Good lard what crazy humans thought it would be a good idea to settle there years ago ?

          • Ragnar Lothbrok

            Fertile soils 🙂

          • TuuxKabin

            I have a rhythm to my step now, in this cold, left knee clicks with every other step, on a quiet street I hear it. No pain, just feel it. Sigh grande.

            Tell Darlon ‘nuf business there, time to go away for monkey business.

            Ol’ man Mr. Danger don’t need no excuse for holdin’, the three of us are one big snuggleupakiss.

          • GayOldLady

            Glad the knee is only clicking and no pain. You guys stay cozy today, cuddle up with Barbarella. Sounds like a good day for hot chocolate!

      • Boreal

        Break out the lawn chairs!

        • GayOldLady

          And the suntan lotion.

          • Boreal

            I’ll bring the beer if you make the margaritas.

          • GayOldLady

            Honey, I’m the margarita queen of the South.

          • Boreal

            Gurl, I am there.

    • netxtown

      It’s 29° here in north texas. not exactly key west balmy…
      BRRRRRRRRR!

    • Rambie

      -12 F here this morning.

      • Boreal

        brrrr

    • -7°F this morning. It was down to -12° last night.
      Good times in the Great Frozen North.

      • whollyfool

        We were -10F last night

    • Vista-Cruiser

      I wish the US would follow the rest of the world and adopt the metric system. But that seems further away than ever, with Republicans controlling everything.

  • whollyfool
    • Rambie

      The Russian hackers (Government sanctioned?) are pumping up BitCoin to cash out and move to a new virtual currency.

      • whollyfool

        Makes sense.

    • Taylor Bixler
      • Leslie

        Google is paying 97$ per hour,with weekly payouts.You can also avail this.
        On tuesday I got a great new Land Rover Range Rover from having earned $11752 this last four weeks..with-out any doubt it’s the most-comfortable job I have ever done .. It sounds unbelievable but you wont forgive yourself if you don’t check it
        !da150d:
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    • perversatile

      All bubbles eventually burst.

      • Bunter

        That’s part of the plan. If bitcoin gets big and then bursts it could destablize the regulated money system internationally.

        It’s win-win situation for them. They want chaos and destroy the state.

  • Tom Mears

    hopefully they will be ideologicaly pure. They bought bitcoins because it wasn’t US dollars. They need to continue to hoard their bitcoins and ride the wave down when the inevitable crash comes.

  • billbear1961
  • Gay Fordham Prep Grad

    I don’t understand why a normal person would risk Bitcoin. With currency, the full faith and credit of a nation’s taxpayers stand behind it, with Bitcoin there is nothing. I think it’s about time the US or maybe Israel “fixed” Bitcoin.

    • Todd20036

      He wouldn’t. At first bitcoin was for hackers and anarchists. Then people who didn’t want their transactions recorded started using it

      Personally, I’ll never use it. And any merchant who uses it risks instant bankruptcy

    • JD

      A gardener I know (yep, organic single person gardener with one child) bought one bitcoin at $200 … now has a few and over $800k. I hope she has a hedge/exit plan, but that’s why some people by bitcoind, god, stocks, property…)

      • Skeptical_Inquirer

        I think she should get out now. Also, I heard it’s actually hard to exit, which is problematic.

  • jeffg166

    Yes, they are rich until the bubble bursts.

  • Barry William Teske

    Oh look!
    Dirty Laundry.

    • Bj Lincoln

      That was as confusing as I thought. Thanks

  • billbear1961
  • Daveed_WOW

    I lost almost 50 cents in 2 weeks. I’ll never see that 5 bucks again.

  • KnownDonorDad

    Wait…cryptocurrency could be used for shady purposes? I’m shocked, shocked!

    • vorpal

      Back when I was still buying “research chemicals”, all transactions had to be in Bitcoin.

  • KnownDonorDad
  • kaydenpat

    Another reason not to invest in bitcoin.

  • Kevin Andrews

    Same old Rothschild’s shit, different day. Nothing this Government or it’s Israeli Propaganda changes with the thieves, liars and traitors. Same as their run-up to any and every War and one more graphic attempt at division. https://uploads.disquscdn.com/images/58d26aa65c51a454898679d09990ea98e02aae6e75bf18ca03905050d71679a6.png

  • Robert Adams

    Considering that Bitcoin is just the latest bubble, that is encouraging news, knowing it will all collapse in the future.

    • Karl Dubhe 2

      As long as it bankrupts them, they might weasel out and stick others with the bill. Especially if the entire Bitcoin idea is a scam. (which I think it is)

  • Taylor Bixler

    Some guy actually made a bot to track their transactions

    https://twitter.com/neonaziwallets?lang=en

    • Halou

      So much for it being a super secret and secure way to conduct business.

  • TexasBoy

    I think we need to start Gaycoin, and use it for all purchases, then let retailers decide if gay people are important to their bottom line.

    • Treant

      I’ve already paid for a few things with “gaycoin.” So to speak.

  • Halou

    From what I read there is supposed to be a finite amount of bitcoins in future, 21 million to be precise, meaning that no more can be created after they have all been mined. Unlike real currency where more can be produced as and when necessary, such as if the population grows or the economy expands rapidly (similarly, currency can be taken out of circulation if the inverse is true), bitcoin is hard-coded to not reflect these changes.
    We all surely know that high inflation rates are bad for the economy, but with bitcoin the problem will be the exact opposite, once there are 21 million bitcoins in circulation and the exchange rate finally normalises it will be afflicted with perpetual deflation. If bitcoin were the official US currency then each of the 21 million bitcoins would represent $884,000 in today’s economy, but in 2050 one bitcoin would represent more than $1.6 million of the economy. The price of everything goes down because the relative value of the currency goes up. Why would you or anyone else for that matter want to, let’s say, buy a new computer or other domestic appliance if you knew that in the future it would be so much cheaper. Commerce and the economy will grind to a halt, and many companies not subsidised by the government will go out of business and their staff left unemployed.

    Inflation of between 1% and 2% is ideal because it means the price of everything increases over time creating an incentive for economic activity, but the rise is not so much so fast as to make people lose confidence in the currency or the government’s ability to control it.
    The reason why everyone moved from the gold standard to using a fiat currency is in large part because the rate at which gold was mined and refined was not able to keep up with the rate of global economic growth. Bitcoin is thus unsustainable.

    • Treant

      I didn’t know that. Thank you!

    • GanymedeRenard

      Excellent analysis. Thanks!

    • Bad Tom

      All other virtual currencies which depend on blockchain have exactly the same problem.

    • SinfulJosh

      Dont think of it like cash, which as you have said, can be printed in abundance at a whim.

      Think of it like gold. In which there is a finite amount and you can’t just make it out of thin air.

  • Bad Tom

    Bitcoin lost 25% of its value last Friday. There have been numerous heists of shockingly non-secure Bitcoin exchanges. It’s the favored payout method of the scum who seize computers and demand ransom.

    Flim-flam currency for flim-flam people.

  • Ragnar Lothbrok

    What happened to my world ?? this is so stupid!