• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Fortune cookie
Nexo

Fortune Publishes their Most Disgusting Bitcoin Article Yet. Here’s Why.

Eduardo Próspero by Eduardo Próspero
11 months ago
in Bitcoin
0
Advertisement

Just when you thought Fortune couldn’t sink any lower with their Bitcoin slander, the publication tries to relate a neutral technology to “the alt-right” and “white supremacists.” Is this what journalism has devolved into? Unfortunately, in the case of Fortune, the answer is yes. This is not the first time they have used their publication as a weapon. They’ve tried to slander Bitcoin numerous times before, and there’s a concrete reason for that.

Related Reading | Bitcoin And Crypto Adoption Soars 880% In 2021, This Is What’s Driving It

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Before we get into that, let’s make one thing clear: Bitcoin is for everyone. That includes your enemies and the people you consider more dangerous and disgusting. In turn, that guarantees that the people who in your opinion are doing the most courageous and dangerous work can use it too. 

One of the many Bitcoin value propositions is that it’s anti-censorship money. To be able to achieve that, it’s totally transparent, all the transactions are out in the open in a public and immutable ledger. That is a first in human history. And most of the information in Fortune’s disgusting and propagandistic article, Chainalysis took it from that very same ledger. Even with that obvious fact written all over the piece, the authors try to frame it like Bitcoin is the problem here.

It’s the other way around, the authors and their lack of journalistic ethics are the problem. When someone writes a hit piece to benefit the other businesses of the owner of the publication, the whole world loses. And it makes all journalists look bad.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Wow it’s available for everyone imagine that pic.twitter.com/K1pDxaL40R

— Satoshidisco (@satoshidisco) September 28, 2021

What Does The Fortune Article Actually Say?

In general, they try to associate the Bitcoin name with the worst actors in society. To do that, the authors mention that those members of “the far right” and “white supremacists” use Bitcoin and have benefited from the increases in price. And then proceed to write about their actions and print the most disgusting quotes you’ll find in a Bitcoin article. You’ll have to go there to get a full picture, Bitcoinist wouldn’t publish anything like that. We will, however, quote and refute the few instances they actually talk about Bitcoin.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

The article’s central character is Andrew Anglin, founder of some extremely racist publication.

“Anglin is just one very public example of how radical right provocateurs are raising significant amounts of money from around the world through cryptocurrencies. Banned by traditional financial institutions, they have taken refuge in digital currencies, which they are using in ever more secretive ways to avoid the oversight of banks, regulators and courts.”

Unless Anglin lives in El Salvador, he still needs to exchange those donations into fiat currency. Is he still using banks and legacy services to do that? Could this be an admittance that KYC and AML policies are not a problem for bad actors and only affect law-abiding citizens? It sounds like those “banks, regulators and courts” are not doing their job right.   

Fortune basically admits this, they say that Anglin “owes more than $18 million in legal judgments in the United States to people whom he and his followers harassed and threatened.” However, “He has no obvious bank accounts or real estate holdings in the U.S.,” so they haven’t been able to seize his fortune. Is this Bitcoin’s fault? No. Bitcoin doesn’t care. Anglin’s Bitcoin address is public and obvious, and the source for this article.

Nice smear job. Way to attack sound money & a monetary network that is helping millions of people all around the world (millions not white) lift themselves out of poverty.

— Heather Everdeen 🟩 🌋🔥🌎✨ (@HeatherEvrdeen) September 29, 2021

How Do The Authors Relate Bitcoin To Bad Actors?

“In his “Retard’s Guide to Using Bitcoin,” published in April 2020, he claimed to have funded the Daily Stormer exclusively through Bitcoin for four years.
“I’ve got money now. I’ve got money to pay for the site for the foreseeable future.”

Again, Bitcoin doesn’t care about this. And these kinds of publications existed way before Bitcoin, how did they fund them then? The fact that Anglin is using a new technology that’s available for every single person on the planet doesn’t mean much. Does he also use e-mail? The Internet, maybe? He’s probably also using shoes. Are shoes a problem?

“Richard Spencer, an American white supremacist, has dubbed Bitcoin the “currency of the alt-right.”

So what? Are we taking what American white supremacists say seriously now? Bitcoin is for everyone. Especially for all the people Richard Spencer probably hates.

“What is clear is that early adopters of Bitcoin, like Anglin, have profited handsomely from its increase in value over the years. Bitcoin prices are notoriously volatile. Since April, the currency has shed a third of its value against the U.S. dollar, then took a further drubbing last week when China declared cryptocurrency transactions illegal.”

Wait, what? Why would they bring up the recent downturn of the market if they’re trying to make the point that Anglin “profited handsomely?” Isn’t Fortune contradicting itself here? Yes, the authors are contradicting themselves. It doesn’t matter, though, because this is a hit piece and this paragraph alone proves it.

BTCUSD price chart for 09/30/2021 - TradingView

BTC price chart for 09/30/2021 on Timex | Source: BTC/USD on TradingView.com

Too fn bad that Satoshi Nakamoto wrote the marketing manual for the Under Bosses & knew this form of propaganda was coming & spread it to every vile group first so it could trickle down to the good people.

Right out the playbook- they knew it was cominghttps://t.co/bRdOGc5Otl

— Bitcoin-Music-Television (@TeamSatoshi) September 29, 2021

Chainalysis Enters The Picture

“Chainalysis collected data for a sample of 12 far-right entities in the U.S. and Europe that publicly called for Bitcoin donations and showed significant activity. Together, they took in 213 Bitcoin — worth more than $9 million at today’s value — between January 2017 and April 2021.”

First of all, Fortune knows this because of Bitcoin’s transparency. The law knows this and they can do something about it. Second, all those organizations still need to exchange that Bitcoin into fiat currencies. How are they doing it? Why aren’t the authorities stopping them?

Then, Fortune changes its tune and says that those organizations are now using Monero. However, since it’s Bitcoin they’re trying to smear, the authors quickly bring it back and relate a story of a wealthy donor that, upon his death, left all his Bitcoin to some of those extreme organizations.

“Bachelier’s money slipped quietly into the U.S., not triggering alerts it might have had it landed via traditional banking channels. That’s because much of it — notably the Bitcoin donation to Fuentes, then worth $250,000 — passed through accounts that were not hosted by regulated cryptocurrency exchanges, according to Chainalysis.”

Maybe so, but they still need to exchange it into fiat. Then Fortune tries to change the subject, saying “cryptocurrency wallets can also be “unhosted,” which means that users themselves control access.” Maybe so, but all those transactions are still visible in the blockchain. Forever. In fact, that’s the only reason Fortune knows about “Bachelier’s money.” And, they still need to exchange it into fiat. 

Look, you get the point. We’re running in circles here. Let’s cut to the chase and reveal the reason for this article and all of the many other Bitcoin hit pieces Fortune has published.

So, #bitcoin is the currency of the <checks notes> alt-right white supremacist?

Mmm k. pic.twitter.com/4CD1B8yIg6

— Hun E. Badger (@HodlBadger) September 28, 2021

Why Is Fortune Trying To Slander Bitcoin In Such An Obvious Way?

To avoid Bitcoinist’s biases, let’s quote Yahoo! Finance:

“A financial technology startup co-founded by the owner of Fortune magazine plans to widen the reach of its Southeast Asian remittance platform through acquisitions.
Lightnet, which describes its blockchain-based service as quicker and cheaper compared with traditional banks”

Yeah, it might be “quicker and cheaper compared with traditional banks,” but not compared to the Lightning Network’s almost free, instant transactions. Bitcoin is a direct competitor of Lightnet. A superior competitor. What does this “owner of Fortune magazine” have left but leave all ethics behind and use his publication as a weapon?

Related Reading | Man Who Dumped Hard Drive Containing $381M BTC Gets Hedge Fund Backing To Recover Hard Drive

“Bangkok-based Lightnet is initially targeting millions of underbanked migrant workers in Southeast Asia, a remittance market it estimates at $150 billion.”

We already know what El Salvador’s Bitcoin law will do to Western Union and the likes, can Lightnet compete with the Lightning Network and now even Twitter? Probably not. And that’s the reason Fortune is sinking this low.

Featured Image by Elena Koycheva on Unsplash - Charts by TradingView
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Beware of my Telegram impersonator!

Related Posts

bitcoin

Decline In Bitcoin Denominated Open Interest Sees Funding Rates Fall Below Neutral

8 hours ago
Bitcoin Mining

Why The Bitcoin Hashrate Has Barely Moved Since May

12 hours ago
Bitcoin Mining

Bitcoin Mining Company Returns Over 26,000 Rigs To Save Itself From A Ballooning Debt

18 hours ago
Ukraine

Ukraine Buys New Batch Of Weapons To Fight Russia Using $60 Million Crypto Donations

20 hours ago
bitcoin and stocks

Is the Bitcoin Stock Market Correlation Finally Ending?

2 days ago
Bitcoin

Bitcoin Is Now Accepted In This Popular Resort In The Maldives

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.