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Polish central bank secretly funds Youtube videos attacking bitcoin - report

Okjoek

This news comes from my ancestral homeland on Poland.

Source:

https://www.rt.com/business/419155-polish-central-bank-cryptocurrency-bitcoin/

 

Quotes from article:

"Poland’s central bank has admitted to paying for social media campaigns that attacked cryptocurrencies, according to a popular Polish business news website."

 

"The central bank of Poland (Narodowy Bank Polski) spent 91,000 zloty ($27,100) on the campaign with the money going to Google, Facebook and a Polish Youtube partner network called Gamellon, Money.pl reports."

 

"However, the description does not include any indication that the video was a paid advertisement. Polish technology site Spider’s Webnotes that this is against the law in Poland, where sponsored content has to be marked as such."

My opinion:

I'm not a fan of imaginary coins anymore. They're a drain of earth's resources by those who want to be integrated to an easy life within society, without contributing to it. This bank however isn't something I would throw my support behind either. This is just a capitalism establishment doing what it does best by trying to snub out competition.

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great news. $27.000 is not a lot for youtube campaign.

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Not really sure why you turned this into an attack on capitalism...

 

As for your problem with

Quote

Imaginary coins

What makes the value of bitcoins any more arbitrary and imaginary than non-backed paper money?

 

As for the topic at hand, that bank should be fined for not disclosing the paid nature of the content, as well as any creators that conspired with them who did not disclose.

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I don't think it really needs to be attacked, it should already be obvious to anyone paying attention that it's not a viable currency and never will be.  People love to attack it on "it's fake imaginary coins" or other things of that nature but really it's just as valid as real money.  The real issue with it (aside from the mind bending instability) are the incredibly slow and expensive transactions.  It's simply not practical for mainstream use.  Perhaps another crypto will fill this role one day but it's not going to be Bitcoin the way it is now.

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I don't think it really is a big deal. Everyone else does the same thing. It's a media platform, and by design, it'll be exploited

These imaginary coins are a fabrication of greed. Nothing more. The chain technology is cool, the coin is garbage

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at this point i don't know who's funding who on a media platform to gain leverage on any subject . the platform owners arents so "unbiased" if you look at it realistically. this is just a small part of it.

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4 minutes ago, Ryan_Vickers said:

I don't think it really needs to be attacked, it should already be obvious to anyone paying attention that it's not a viable currency and never will be.  People love to attack it on "it's fake imaginary coins" or other things of that nature but really it's just as valid as real money.  The real issue with it (aside from the mind bending instability) are the incredibly slow and expensive transactions.  It's simply not practical for mainstream use.  Perhaps another crypto will fill this role one day but it's not going to be Bitcoin the way it is now.

Whats funny is BTC use to have fast cheap transactions, the only reason it is not now is that block size is limited to 1MB and the amount of transactions in the 10~min block time is more then 1MB, and most of the proposed code fixes for the BTC core has not been accepted.

 

Their are plenty of Alt coins that are faster too.

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4 minutes ago, The Benjamins said:

Whats funny is BTC use to have fast cheap transactions, the only reason it is not now is that block size is limited to 1MB and the amount of transactions in the 10~min block time is more then 1MB, and most of the proposed code fixes for the BTC core has not been accepted.

 

Their are plenty of Alt coins that are faster too.

Yeah clearly it wasn't built with scaling in mind.  A great proof of concept and notable because it is the largest, and was the first, or at least the first to be big, but the only people dealing in it (I hope) are just trying to make a quick buck.  Surely no one thinks this will actually displace paper money in its current form?

 

And when you think about it that way suddenly things seem even more messed up.  After all, the value of this stock trader's dream is through the roof while the coins people should actually be investing in because they could actually be the future are sitting at just a fraction of what bitcoin is worth. hm...

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15 minutes ago, Ryan_Vickers said:

I don't think it really needs to be attacked, it should already be obvious to anyone paying attention that it's not a viable currency and never will be.  People love to attack it on "it's fake imaginary coins" or other things of that nature but really it's just as valid as real money.  The real issue with it (aside from the mind bending instability) are the incredibly slow and expensive transactions.  It's simply not practical for mainstream use.  Perhaps another crypto will fill this role one day but it's not going to be Bitcoin the way it is now.

In this particular case, it's solely because this kind of currency is not taxed in Poland. It has nothing to do with Bitcoin or any other cryptocurrency in the circulation

 

Current Polish government are a bunch of puppets controlled by one (or a few if you count his closest advisors) person, they made a stupid choice by giving away free money to people with two or more kids under 18 each month which wreaks havoc on our economy, keep in mind that it was already in a pretty bad state - they're going to great lengths nowadays to collect as much money from every taxpayer as possible to fund this by increasing prices, increasing regulations and adding new taxes.
If people started using cryptocurrencies for trading more widely here, that'd mean a huge deficit in the national budget and they're doing what they can to prevent that (even by breaking the local law like you see in this case).

 

I find it super-dumb that they actually paid youtubers to say bad stuff about cryptocurrencies, one of them even made a video with a thumbnail saying "I LOST ALL MY MONEY" - literally. Then he proceeds with telling people not to buy and use any cryptocurrencies. What's funny - they thought it would never see daylight, but someone released an unpublished document which proved everything :P  What's not-so-funny? That there are no consequences for the person or a group of people who did this and it will stay that way, this government is the worst we've had since communism was a thing here...

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10 minutes ago, Ryujin2003 said:

These imaginary coins are a fabrication of greed. Nothing more. The chain technology is cool, the coin is garbage

Once again, what makes the value of these coins any more “imaginary” than that of un-backed paper money?

 

Similarily, what makes crypto-currency more a fabrication of greed than standard currency?

 

Care to explain why crypto-currencies are “garbage”?

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1 minute ago, Morgan MLGman said:

In this particular case, it's solely because this kind of currency is not taxed in Poland. It has nothing to do with Bitcoin or any other cryptocurrency in the circulation

 

Current Polish government are a bunch of puppets controlled by one (or a few if you count his closest advisors) person, they made a stupid choice by giving away free money to people with two or more kids under 18 each month which wreaks havoc on our economy, keep in mind that it was already in a pretty bad state - they're going to great lengths nowadays to collect as much money from every taxpayer as possible to fund this by increasing prices, increasing regulations and adding new taxes.
If people started using cryptocurrencies for trading more widely here, that'd mean a huge deficit in the national budget and they're doing what they can to prevent that (even by breaking the local law like you see in this case).

 

I find it super-dumb that they actually paid youtubers to say bad stuff about cryptocurrencies, one of them even made a video with a thumbnail saying "I LOST ALL MY MONEY" - literally. Then he proceeds with telling people not to buy and use any cryptocurrencies. What's funny - they thought it would never see daylight, but someone released an unpublish document which proved everything :P  What's not-so-funny? That there are no consequences for the person or a group of people who did this and it will stay that way, this government is the worst we've had since communism was a thing here...

Yeah I suppose we should be focusing on the story here but the crypto topic is so hot xD

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3 minutes ago, Ryan_Vickers said:

Yeah clearly it wasn't built with scaling in mind.  A great proof of concept and notable because it is the largest, and was the first, or at least the first to be big, but the only people dealing in it (I hope) are just trying to make a quick buck.  Surely no one thinks this will actually displace paper money in its current form?

I use to use it as a currency but not the fees are too much.

but BTC has scaled very well up until recently, I would say in 2009 it would of been hard to see it scaling to this point.

 

and most people don't realize a simple code update can fix this if everyone agrees with the best way to fix it.

 

one fix was to double the block size, it got enough acceptance to get it to move forward but the creator of it stopped it because he wanted a higher acceptance.

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Just now, The Benjamins said:

I use to use it as a currency but not the fees are too much.

but BTC has scaled very well up until recently, I would say in 2009 it would of been hard to see it scaling to this point.

 

and most people don't realize a simple code update can fix this if everyone agrees with the best way to fix it.

 

one fix was to double the block size, it got enough acceptance to get it to move forward but the creator of it stopped it because he wanted a higher acceptance.

There's two issues though:

  1. It actually should be incredibly easy to predict what kind of scale it would need to handle since numbers from global companies like VISA and MasterCard are public, so you just need to at the very least match them.
  2. Anything that relies on people agreeing on something is 100% hopeless and should be considered impossible xD (sort of /s sort of serious)

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Just now, Ryan_Vickers said:

There's two issues though:

  1. It actually should be incredibly easy to predict what kind of scale it would need to handle since numbers from global companies like VISA and MasterCard are public, so you just need to at the very least match them.
  2. Anything that relies on people agreeing on something is 100% hopeless and should be considered impossible xD (sort of /s sort of serious)

1. Ya but again did he even expect 1% of the acceptance it has now?

 

2. (I don't know the hard numbers) it is like 51-60% acceptance for a hard fork and a 80% for soft fork. BTC has gone through a few forks already.

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Here's another new Bitcoin article: https://www.rt.com/business/419204-bitcoin-growth-mystery-investor/

 

It says that the recent jump in BTC price from ~$9,000 to ~$11,000 is due to a single purchaser who just dropped $344 million on Bitcoin. I'm guessing that could be one of the government that have been manipulating and milking the wild price-swings, or that it could be one of the primary investors, who has a long-term interest in seeing Bitcoin perform well. Whoever it is, I think it's likely it's someone who previously owned a lot of Bitcoin, and sold a lot when the price was around $20k. They could be buying back in right now, and still have made a lot of profit.

 

23 minutes ago, Ryan_Vickers said:

I don't think it really needs to be attacked, it should already be obvious to anyone paying attention that it's not a viable currency and never will be.  People love to attack it on "it's fake imaginary coins" or other things of that nature but really it's just as valid as real money.  The real issue with it (aside from the mind bending instability) are the incredibly slow and expensive transactions.  It's simply not practical for mainstream use.  Perhaps another crypto will fill this role one day but it's not going to be Bitcoin the way it is now.

It's still important, though, as, being the progenitor, it represents a lot in the minds of many crypto-traders, at this point in time. It is far from being the most functional digi-coin, though.

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36 minutes ago, SupaKomputa said:

great news. $27.000 is not a lot for youtube campaign.

It's actually quite a lot for a YT campaign.

 

You can easily run a campaign for less than $1000 USD.

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Article is from RT. Why are people reading RT seriously? It's classified as propaganda....

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16 minutes ago, The Viking said:

Article is from RT. Why are people reading RT seriously? It's classified as propaganda....

So is every Western MSM source you can think of...

 

But that itself is a propaganda slogan spread by Western propaganda outlets that are trying to spread FUD to prevent their audiences from tuning into information that discredits a lot of the propaganda that those other outlets are disseminating. RT is the most objective English mainstream news source out there - it's head and shoulders above the BBC, and any US mainstream news outlet.

 

Also, RT has regularly hosted its fiercest critics on air, and allowed them to say everything that they want. That is never done by the BBC and US mainstream news, which seek to control audience impression by omitting any information that challenges their narratives - which is lying by omission, and is called Conniving. And while RT presents opposing sides of stories fairly, the BBC and US mainstream news only present their preferred side fairly (or often at all), and don't acknowledge or present competing claims as those who hold them would present them.

 

Also, RT is staffed, programmed, produced, and hosted by US and UK citizens and former employees of the BBC, NYT, CNN, NBC, Newsweek, The Guardian, and other Western news outlets. Some of them quit or were let go from their previous employment places over matters of integrity, where their former employer wanted them to push for war, or run false narratives, and they wouldn't agree to.

 

By sheer staff composition, RT is likely the most balanced and impartial mainstream news source in the world. And by its programming record, RT is the most balanced and impartial mainstream news source in the world. And there are a ton of stories reported by RT that are not even hinted at as existing by US and UK mainstream news media.

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16 minutes ago, Delicieuxz said:

So is every Western MSM source you can think of...

 

But that itself is a propaganda slogan spread by Western propaganda outlets that are trying to spread FUD to prevent their audiences from tuning into information that discredits a lot of the propaganda that those other outlets are disseminating. RT is the most objective English mainstream news source out there - it's head and shoulders above the BBC, and any US mainstream news outlet.

 

Also, RT has regularly hosted its fiercest critics on air, and allowed them to say everything that they want. That is never done by the BBC and US mainstream news, which seek to control audience impression by omitting any information that challenges their narratives - which is lying by omission, and is called Conniving. And while RT presents opposing sides of stories fairly, the BBC and US mainstream news only present their preferred side fairly (or often at all), and don't acknowledge or present competing claims as those who hold them would present them.

 

Also, RT is staffed, programmed, produced, and hosted by US and UK citizens and former employees of the BBC, NYT, CNN, NBC, Newsweek, The Guardian, and other Western news outlets. Some of them quit or were let go from their previous employment places over matters of integrity, where their former employer wanted them to push for war, or run false narratives, and they wouldn't agree to.

 

By sheer staff composition, RT is likely the most balanced and impartial mainstream news source in the world. And by its programming record, RT is the most balanced and impartial mainstream news source in the world. And there are a ton of stories reported by RT that are not even hinted at as existing by US and UK mainstream news media.

Just don't go the the comment sections. It's cancer IMO.

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12 minutes ago, Delicieuxz said:

False. That's a propaganda slogan spread by Western propaganda

So,propaganda accusing propaganda of being propaganda. You can't go trusting a single news source over another these days because you don't agree with anything else.

16 minutes ago, The Viking said:

Article is from RT. Why are people reading RT seriously? It's classified as propaganda....

They report the most on countries like Poland and Russia. I'd rather go read multiple sources reporting the same thing to check for accuracy.

Anyway I don't like the coin,but the technology is great,too bad the reputation of blockchain is being ruined by people trying to make a quick profit.

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1 hour ago, Okjoek said:

They're a drain of earth's resources

Cardano isn't :) (it's proof-of-stake)

https://www.cardanohub.org/en/home/

It's also got a pretty large market cap (just behind litecoin) https://coinmarketcap.com/currencies/cardano/

 

1 hour ago, Okjoek said:

by those who want to be integrated to an easy life within society, without contributing to it.

I think that's the attitude of most miners "hey i'm getting free money basically". But they do contribute as without that compute power we wouldn't be able to secure the blockchain (though atm we have a case of way too much compute power being used, so the only thing the blockchain can do is uselessly make the block signing process harder).

 

This is why I was glad to learn that Ethereum was going PoS, and about cardano as well. Eth's proof-of-stake migration isn't anytime soon though, having been pushed back multiple times. So cardano it is I guess, if only my exchange let me invest in that.

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27 minutes ago, Okjoek said:

Just don't go the the comment sections. It's cancer IMO.

I agree. I think that RT doesn't want to give chance for people to say they're any less about freedom of speech than Western news outlets, and so they're allowing anything to be said in their comments. I've complained to RT about their comments sections via email, and I received a response back in broken English saying they do not censor reader opinions, whatever they are. I think that RT's support centre, which I believe is only Russian, isn't even aware of a lot of the racism and trolling from anti-RT trolls that goes on in the comments.

 

Also, the comments section is designed by a company that's headquartered in Tel Aviv, Israel. I don't know if they also handle the comments moderation.

 

27 minutes ago, Blademaster91 said:

So,propaganda accusing propaganda of being propaganda. You can't go trusting a single news source over another these days because you don't agree with anything else.

They report the most on countries like Poland and Russia. I'd rather go read multiple sources reporting the same thing to check for accuracy.

Anyway I don't like the coin,but the technology is great,too bad the reputation of blockchain is being ruined by people trying to make a quick profit.

Yes. It doesn't matter which source a person uses as their news - if it's their only source, then they're only being fed propaganda. And if all a person's sources are all mainstream news from the same geopolitical information sphere, such as Western nations, then it's the same situation, and that person knows next to nothing that's truthful. All the worst connotations of a propaganda environment, they apply to Western mainstream news, which is propaganda at its core.

 

Each source is focusing on the errors and falsehoods of their own region less, while hyping those of other regions. And I would say that Western mainstream news is much more guilty of this than RT is.

 

 

This is what the list of news sources I visit more frequently looks like. The ones with a green mark next to them are the ones I consider more essential to get a good overview picture of what's going on, geopolitically.

 

5a8b00f1e90a5_newssources.png.1cfbdcb46d880a229cef23f7e3ab6308.png

 

Several of the sources I put marks next to are aggregators of news from other places, and so make for convenient over-viewing of a much larger picture.

 

I would Counter Punch in there somewhere, but I receive article notifications of theirs on Facebook. The Intercept is another source I wouldn't mind book-marking.

 

And I used to have sources like CNN, NYT, Fox News in my list, but I found that there's no point in checking them out, because they hardly ever say anything truthful, and that to read them is to basically digest lies. I should probably also remove NBC from my list, and maybe Reuters, too, as they don't cover anything in-depth, and they too frequently just repeat pop propaganda that I'll have already read in more detail from somewhere else.

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49 minutes ago, The Benjamins said:

1. Ya but again did he even expect 1% of the acceptance it has now?

idk maybe not xD that would be kinda funny if even the creator agreed that it's not "the one" though

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The whole defense about RT is really........ well, whatever, keep reading RT. Check sputnik too if you really want to bathe into that russian propaganda at 100%..

 

For blockchain, good. Too many people trying to make others believe that you can make real money out of it, while it's just a bubble. Some people obviously know this but the average person doesn't. The European Central Bank did also make a statement, recommending people to stay away from cryptocurrencies.

 

Now, for blockchain technology, it does seem interesting. Except currently it's not only monopolizing all the gaming cards and consuming insane amounts of electricity (https://www.theguardian.com/technology/2018/jan/17/bitcoin-electricity-usage-huge-climate-cryptocurrency), but there's no real use for it? If I wanted to speculate I would just go dump my money in the stock exchange or buy some gold or something, not crypto.

 

And no, crypto has no real use+it's extremely volatile. What, today I can buy a 2 litre coke bottle but tomorrow it's only worth enough for half? 

 

--> https://www.ecb.europa.eu/explainers/tell-me/html/what-is-bitcoin.en.html

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12 minutes ago, The Viking said:

The whole defense about RT is really........ well, whatever, keep reading RT. Check sputnik too if you really want to bathe into that russian propaganda at 100%..

If I was seeking to bathe in propaganda, I would buy into your comments like yours without discretion or challenge. You clearly don't know what you're talking about and are just regurgitating what you've been programmed to.

 

Sputnik is another source that is certainly no worse than, and is even better than a lot of US mainstream news media. Check my list of news sources above - I have it bookmarked.

You own the software that you purchase - Understanding software licenses and EULAs

 

"We’ll know our disinformation program is complete when everything the american public believes is false" - William Casey, CIA Director 1981-1987

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