In place of traditional fundraising sources, bitcoin fills a gap for hate groups
One by one, they got bounced from traditional online fundraising and payment platforms.
Amazon Smile, PayPal and credit card processors said no to the 鈥渁lt-right鈥� and other racist and white nationalists using their networks.
So, they turned to not backed or used by any government.
The internet currency is a relatively recent invention.
Released publicly as open-source software聽in 2009 by an anonymous group, bitcoin doesn鈥檛 have a central bank or main agency policing it. Instead, a network of users conducts peer-to-peer transactions directly with the exchanges being verified by computer and logged publicly in what鈥檚 called a blockchain.
While the blockchain allows transactions to be tracked, it doesn鈥檛 give away the identities of either side of the transaction.
that, in 2017, between 2.9 and 5.8 million unique users made use of cryptocurrency, with many using bitcoin.
And, bitcoins can be used to purchase all manner of goods and services and it can be used to make donations.
That鈥檚 primarily how the alt-right is using the cryptocurrency.
Websites such as WeSearchr, which raises money for a 鈥渂ounty鈥� for information, and Hatreon, where donations can be made to alt-right figures such as Andrew Anglin, primarily use bitcoin for fundraising.
Bitcoin purchases can be traced by a determined researcher. And, the Southern Poverty Law Center will be releasing a list of 200 accounts tied to white nationalists and racists in the coming week.
by purchasing small amounts of marijuana online, then asking a researcher to see if she could figure out where the transactions originated.
She found the buys and traced it back to Forbes.
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