Cryptocurrency for conservatives

Cryptocurrency and their symbol, from coinmama

Boycotts and deplatforming seem to be all the rage in 2021. Won’t stand for the National Anthem? People will vote with their remote controls and watch something else. Don’t like someone’s opinion? Easy, just demonetize their videos, like what YouTube is doing to PragerU right now. It’s easy to sit back and watch this as a passive observer when you don’t really care about ESPN or make YouTube videos.

But when your bank cancels your account, or you can’t use a credit card, it makes that passive stance no longer tenable. You might not care about ESPN, but not being able to purchase gasoline with a credit card becomes a regular nightmare. Worse still, what if no major bank will carry your money? Almost all employers pay employees electronically. What would you do?

If that sounds far fetched, its not. Bank accounts associated with conservative groups like the NRA have been under pressure to get canceled. Mastercard and Visa, the biggest names in credit cards, stopped donations to the David Horowitz Freedom Center (although they eventually restored it). Attacking financials hits home for everyone, because you can’t boycott banks, and that makes them a juicy target for radical liberals wanting to hurt conservatives.

While we should all be standing up and fighting these efforts, we should also protect ourselves. If you own a business that risks cancellation, you should be accepting cryptocurrency as a form of payment. Cryptocurrency, like Bitcoin or Ethereum, is a disaggregated ledger system where individual nodes on a network verify accurate transactions, and pay for that with a coin. If it sounds confusing, it is, however, so is trying to understand how banks process your money electronically. A good Bitcoin primer is this video from 99 BitCoins:

More importantly, Bitcoin and other blockchain cryptocurrencies have now been around for a while. Most of the bugs are worked out, and major companies are accepting them as payment. Tesla is the most notable, but add AT&T and even Burger King (only in Venezuela) to that list. Its growing and its not going away.

For conservatives, cryptocurrency offers the ability to pay people in a peer-to-peer mode that nobody can cancel. No government can freeze your account. No financial institution can be bullied into canceling you. Even better, the money transfers between crypto wallets (think of them nominally as the account that holds your cryptocurrency) only lists account numbers. This makes it incredibly difficult to track down or dox people that are frequenting a business or donating to conservative candidates.

Speaking of donating, since we’ve seen a fair amount of doxxing of people who donate to PACs, Political Action Committees can accept cryptocurrency, and its happening more frequently. Conservatives that think they shouldn’t get hassled about legal donations should consider telling their candidates to take cryptocurrency. Most PACs right now immediately cash the cryptocurrency into US Dollars and report it, which is fine, and it still maintains a decent level of anonymity for the donor.

Now is the time to get started. I recommend all conservatives learn about cryptocurrency, get a cryptocurrency wallet, and purchase some common cryptocurrency (Bitcoin and Ethereum are good candidates due to their popularity). For individuals, you should get an account that allows easy bank transfers, such as Coinbase, which doesn’t charge for ACH transfers. Even better, Coinbase has a series of short videos that teach you about different cryptocurrency and pay you in small amount of crypto to help you get started. If you use this link, it also helps me out.

For businesses, Coinbase offers a commerce site, https://commerce.coinbase.com/. The site generates a separate commerce wallet for common cryptocurrency and makes transferring to your commercial bank account easy. Even better, if your bank tries to cancel you, you can hold your money in cryptocurrency until you setup at a different bank.

Cryptocurrency is going to be the conservative answer to financial cancel culture. Now is the time to start, so that when the times get bad, you’re one step ahead of the liberal juggernaut.

This post represents the views of the author and not those of the Department of Defense, Department of the Navy, or any other government agency.

7 thoughts on “Cryptocurrency for conservatives

  1. I can’t get that You Tube video to work. Dunno if the problem is on my end or yours. Other than that, a good article.

  2. Completely agree. Crypto is not going away, and can settle large international financial transactions in minutes rather than days, so it has great potential. But also be careful: read about a guy who ten years ago or so paid for a cup of coffee with Bitcoin at some cutting edge place apparently, and says now, that cup of coffee ended up costing him about $12,000 — what the Bitcoin he spent then would be worth today if he held on to it. ‘Course that kind of thinking can drive a man insane.

  3. The IRS treats cryptocurrencies like stocks. When you buy some, that becomes the basis of those particular coins. When you sell them, any change in value v. the dollars becomes either a profit of a loss. Profits must be reported, and they are taxed.

    If you make many purchases and sales, the situation rapidly becomes chaotic.

  4. Somewhere there is a server that is hosting the bitcoin accounts. What happens when the government finds that server and shuts it down? Oh, it’s backed up, you say. The server is, perforce, linked to the backup, so when you find the server you find its backup as well.

    1. As I understand Bitcoin, there are many computers that have a copy. These are the bitcoin miners.

  5. I’m curious as to what makes coinbase immune from cancel culture? To create an account you have to provide name and e-mail address.

    I suppose you could give a fake name and use a temporary anonymous e-mail address, but that kind of defeats the purpose of the ability to do ACH transfers.

    If you use your real name and e-mail address and cancel culture decides you shouldn’t exist, what’s to stop coinbase from canceling your account just like a bank could?

    I can see cryptocurrency being a hedge against cancel culture, but only if your wallet is completely anonymous and you aren’t relying on an account with any third party provider.

    Am I wrong?

  6. Further to my initial comment (which I can’t see yet or I would have posted this as a reply); from the Coinbase user agreement:

    -quote-

    “7.5. Prohibited Use. …We reserve the right to cancel and/or suspend your Coinbase Account(s) and/or block transactions or freeze funds immediately and without notice if we determine, in our sole discretion, that your Account is associated with a Prohibited Use and/or a Prohibited Business.”

    “Prohibited Use

    You may not use your Coinbase Account(s) to engage in the following categories of activity (“Prohibited Uses”). The specific types of use listed below are representative, but not exhaustive.” [Not sure if the HTML worked, but I added the html bold tags, not in the original]

    “Abuse Other Users: …incite, threaten, facilitate, promote, or encourage hate, racial intolerance, or violent acts against others;”

    “Prohibited Businesses

    In addition to the Prohibited Uses described above, the following categories of businesses, business practices, and sale items are barred from Coinbase Services”

    “Regulated Products and Services: …sale of…age restricted goods or services; weapons and munitions; gunpowder and other explosives; fireworks and related goods.

    “High risk businesses: any businesses that we believe poses elevated financial risk, legal liability, or violates card network or bank policies”

    -end quote-

    So, basically, if the cancel culture determines that you are “inciting violence” by exercising your first amendment rights, or decides that you are a racist because you don’t bow down to BLM, you can be banned from this service.

    Or if you’re a gun business, you’re already prohibited from using the service to sell your wares, further, if the banks or credit cards have already kicked you out for violating their policies, you can’t bank here either.

    And as an added bonus, they can ban you for any activity that they determine is a “Prohibited Use” at any time because their list isn’t exhaustive.

    Doesn’t sound to me like this is a “cancel culture” safe alternative.

    Again…am I wrong?

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