Social Media Platform Opts for Bitcoin Payments As Banks Continue to Blacklist Service

Social media platform ‘Gab’ that has sometimes been referred to as the ‘Alt-Right Twitter’ (because it continues to provide a haven to mainstream social media castaways such as Alex Jones and Milo Yiannopoulos), has just announced its decision to start accepting Bitcoin payments.

This is in part due to ‘Paypal’ recently banning the service from using its offerings (along with a host of other banking institutions).

This ban has in part been placed due to the executives of most mainstream financial institutions claiming that Gab ‘promotes hate speech’ and thus in turn propagates racial violence and tension. This claim has been vehemently denied by the folks over at Gab, as they claim that their platform is completely neutral and allows users to basically

“determine the type of content they want to view”.

More On The Matter

For those who may not remember, a similar situation was previously faced by the ‘Daily Stormer’, another independent news outlet shunned by the financial mainstream, wherein the firm could not process regular payments due to restrictions being placed by big name players (including PayPal) on the publishing house. As a result of this, the Daily Stormer team too resorted to accepting payments via Monero and Bitcoin.

In regards to the ‘Gab’ case, it is quite clear that businesses such as Stripe and Paypal simply don't want to be associated with platforms that “appear” to be promoting hate speech.

However, crypto exchanges too seem to be miffed with the firm, with Coinbase recently choosing to ban Gab as well. However, luckily for Andrew Torba, the CEO of Gab, there are many options for processing payments when it comes to the alt-coin space.

Final Take

It now remains to be seen if other big-name crypto services providers like BitPay and all decide to stand up for what’s right or simply follow the narrative that has been laid out by the left in terms of what constitutes “hate speech”.

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