gab-ai-coinbase-bitcoin-crypto-account-shutdown

Gab, a social network platform that is not even 2 years old has been at the enter to several controversies. They describe themselves to be a platform that describes itself as a place “where people, free expression, and individual liberty come first,” however, this operating philosophy has made it a premiere destinations for members of the extremist “alt-right” banned or just looking to branch out from other social media sites like Twitter.

Gab vehemently opposes suppression of online speech. “Censorship and closed systems are ultimately about two things: destruction and control,” it reads. “Censorship does not create value, it annihilates it.”

The CEO and Co-Founder of Gab, Andrew Torba has always stated that the motivation for building the platform was that the major major social media companies, such as Facebook and Twitter are what he calls an “entirely left-leaning Big Social monopoly.” In an effort to battle these social monopolies in court over issues concerning Nazi propaganda after Charlottesville incident, they are accepting donations in PayPal, Bitcoin, and Ethereum. They say that the funds will be used to directly explore any and all legal options against the anti-competitive actions of the Silicon Valley oligopoly.

Gab vs Coinbase

Gab recently announced that its Coinbase account was suddenly closed, hurting its capabilities to accept Bitcoin and Ethereum. The move was made without providing any specific explanation, as it can be seen in this screenshot.

Gab took on the offensive and went ahead to say that centralized cryptocurrency exchange “cancer”. He added: “Coinbase has banned Gab’s account. Centralized crypto exchanges/wallets are cancer and contradictory to everything crypto stands for.”

Social commentator and Coinbase critic Kevin Pham has said that they might know why the San-Francisco based exchange has shut down the account. Gab in an earlier tweet suggested “crony capitalism” could have been behind yesterday’s SEC announcement that Ethereum is not a security.

As there are plenty of open source options which act as Coinbase alternatives, Gab users have called for a Coinbase Boycott.

In line with its anti-censorship ethos, the social network has unsurprisingly embraced Bitcoin, which can be used to transact without trusting middlemen and third-parties. It even launched its own Gab Token ICO, raising over $5 million to date in an effort to build the next-generation social network focused on supporting free speech online.

[FREE] Get Our Best Crypto Trading, Mining & Investing Hacks:

*Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

four × 4 =