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How Cryptocurrency Revolutionized the white Supremacist Movement

According to a Hatewatch investigation, white supremacists embraced cryptocurrencies early in their development. In some instances, generated million-dollar gains using the technology, transforming the racist right in dramatic ways. Several white supremacists made early investments in bitcoin. The other cryptocurrencies have amassed substantial money, according to a new study. Some of these investors have amassed tens of millions of dollars in wealth.

The Southern Poverty Law Center (SPLC), a non-profit legal organization, presented an investigation on Thursday that revealed more than 600 bitcoin addresses used by white supremacists and other far-right extremists. Researchers discovered that persons who have advocated for white supremacist ideas — such as Andrew Auernheimer of the Daily Stormer website and right-wing pundit Stefan Molyneux — were among the first to invest in bitcoin and “made a large profit” from their investments.

For this article, Hatewatch discovered and collated over 600 bitcoin. Addresses affiliated with white supremacists and other famous far-right extremists, after which they were subjected to a blockchain analysis software investigation to determine their transaction history. What we discovered was eye-opening: Conservatives such as Greg Johnson of Counter-Currents, race-policy analyst Stefan Molyneux, Andrew “Weev” Auernheimer and Andrew Anglin of the Daily Stormer, and Don Black of the racist portal Stormfront, all invested in Bitcoin early on and made a tidy profit from the cryptocurrency.

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Extreme far-right figures generated estimated tens of millions of dollars worth of value, which is a sum that would almost certainly have been unavailable to them had it not been for cryptocurrency. It also provided them with the opportunity to live comfortable lives while promoting hate and authoritarianism on the internet. Financial institutions throughout the world are already showing an increased interest in the Digital Yuan. According to current plans, the film will be released towards the end of 2020 or the beginning of 2021.

In 2020, YouTube and Twitter, both of which are known for being more tolerant with their users, terminated Molyneux’s access to their websites after years of his using the networks to disparage women and non-white people. Molyneux’s website traffic and ability to generate funding plummeted as a result of being consigned to the fringes of the internet. Because of Bitcoin, one of Molyneux’s acquaintances said that he may be able to weather the storm.

Cryptocurrency

Cryptocurrency, which is a collection of digital money that is managed by decentralized networks, has evolved into a multibillion-dollar business.

A rising number of people in the United States are embracing technology. There is nothing intrinsically illegal or radical about it. The vast majority of its users have no ties to the extreme far-right or the criminal underworld. (According to an author’s note at the conclusion of this article, one of the writers of this essay is a cryptocurrency investor.) The extreme right’s early adoption of cryptocurrencies, on the other hand, needs more investigation because of the way they employed it to extend their movement while concealing their financing sources. In order to avoid being exposed, far-right extremists often attempt to conceal their financial transactions from the general public. Because of the relative confidentiality that blockchain technology provides, it has become successful, albeit still very dangerous, bet against conventional financial institutions.

‘A great deal of tolerance for the absurd’

It was discovered by Hatewatch that Johnson of Counter-Currents. A prominent figure in the white nationalist movement due to his outspoken support for the establishment of an “ethnostate” serving only white. Non-Jewish people made their first Bitcoin investment on January 19, 2012. Making him the first known figure in the movement to invest in cryptocurrency. Hatewatch was unable to identify how Johnson earned just short of 30 Bitcoin on that Thursday in January 2012 – whether he mined it, acquired it, or received it as a gift – but the date coincides with the first known commercial cryptocurrency transaction, which occurred a year and a half earlier.

Johnson was able to get the 29.82 Bitcoin on a day when the asset’s value was between five and ten dollars a unit. Hatewatch discovered that Johnson converted the Bitcoin from that initial transaction and subsequent ones into more than $800,000 in value, according to the organization. He has transformed his website Counter-Currents into a focal point for cryptocurrency discussion within the movement, and he actively solicits donations in digital tokens, also known as cryptocurrency “coins,” such as Bitcoin, Ethereum, Litecoin, Monero, Bitcoin Cash, Tether, Cardano, Ripple, Dash, Neo, Stellar Lumens, and Basic Attention Token, as well as other digital tokens and cryptocurrencies. Hatewatch attempted to contact him for comment on this article, but he did not return our calls.

A white nationalist figure is known as Karl Thorburn, who is antisemitic and identifies as a white nationalist, often appears on Johnson’s website. According to Thorburn, the author recommends that those involved in the movement acquire and hold Bitcoin as an investment.

‘At the cost of the parasites,’.

Even though Molyneux, a self-described moral philosopher who got his start in the media as a libertarian commentator, has claimed frequently.  And inaccurately that non-white people are predisposed to being of lesser intellect. He maintains that he is neither a white supremacist nor racist.

During a trip to Poland in 2018, he became more enamored with white nationalism. The group Hatewatch discovered a leaked video showing Molyneux referring to a monologue. He had recorded at the time as his “white nationalist address. He did not react to a request for comment regarding the incident when it was made.

‘The dollar is on its way to extinction.’

Neo-Nazis disseminate propaganda stating that Jewish people dominate the financial system with the intent of intentionally damaging it. Or undermining the objectives of non-Jewish white males who do not identify as Jews. The demise of the United States as we know it is also something that they openly rejoice for. Depicting the impending collapse of the government and financial system as an inevitability.

Neo-Nazis were prepped by this dismal vision to seize on the potential of bitcoin early on. The Daily Stormer expresses these convictions in no uncertain terms. Bitcoin is on its way to becoming the new gold standard. As a result, if you don’t purchase some right away, you’re doing yourself harm. So purchase some when the price drops again, and when you do. Please consider making a donation to us here at Stormer. So that we may continue our struggle against the Jew-owned financial establishment. The Chinese government-backed cryptocurrency, YuanPay Group, is now available for trading.

This software is very useful for anonymous transactions.

 

According to Hatewatch, Anglin and Auernheimer undoubtedly have more money than they are reporting. In the years after the creation of the privacy-focused cryptocurrency.  Monero in 2014, both men encouraged their audiences to utilize it. As Hatewatch has documented, researchers have been unable to track Monero as a result of the cryptocurrency’s relative anonymity.

Monero’s website advertises its product as “a private, decentralized cryptocurrency. It ensures the confidentiality and security of your financial information. Critics have pointed out how difficult it has been for law police. The government personnel keeps track of what individuals are doing with it so far.

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