Poland's Central Bank Accused of Paying YouTubers To Make Videos That Attack the Legitimacy of Cryptocurrencies

Poland's central bank has been accused of hiring YouTubers to "start a smear campaign" against cryptocurrencies in the country, Business Insider reports. From the story: According to Business Insider Poland, the Narodowy Bank Polski spent around 91,000 zloty ($27,300) on a marketing campaign designed to attack the legitimacy of cryptocurrencies. The money was spent on platforms including Google and Facebook, but was also used to pay a Polish Youtube partner network called Gamellon. The Gamellon network reportedly represents many of Poland's top YouTubers, including popular prankster Marcin Dubiel. In December, Dubiel published a video titled "STRACILEM WSZYSTKIE PIENIADZE?!" -- which loosely translates as "I LOST ALL MY MONEY?!" In the satirical video, Dubiel invests all his money in a fake cryptocurrency called Dubielcoin, gets rich, but then sees its value plunge and loses everything. It has racked up over 500,000 views.

Re:

[nwaack]

Don't forget abput the teenaged brothers whom she had drugged and placed in front of a traon in the mid 1980s...

Now she's putting people in front of TRAONS! No, not the traons! Anything but the traons!!!!

Re:

[sycodon]

^Speaking of paid trolls

I could have been getting paid?!

[Anonymous Coward]

I could have been getting paid telling people how stupid bitcoin and other cryptocurrencies are?! And here I've been doing it for free like a chump.

Re:

[sgrover]

Maybe that's the plan. Have the naysayers start to silence themselves believing their info is worth more than the cryptocurrency... may be a conspiracy theory in this yet... Or just a law of unintended consequences maybe. (My view is that if you are not ready to loose what you are investing, then don't "invest" in high risk things.)

Re:

[Major_Disorder]

Come one SlashDot, I need contact info. Who exactly do I need to talk to, to get on this gravytrain?

Re:

[Darth Hunterix]

Don't worry, they pay in bitcoins.

Re:

[geekymachoman]

> I could have been getting paid telling people how stupid bitcoin and other cryptocurrencies are?! And here I've been doing it for free like a chump.

and everybody you told that to probably think that you're stupid. And like you said... you didn't even get payed for it.

You truly are a chump.

Re:

[bobbied]

(snip)

Cryptocurrencies are the wild west, but that seems to be a design feature, so caveat emptor.

One man's propaganda is another's truth... I agree, It pays to be aware of what both sides are saying...

In Soviet United States

[Drunkulus]

cryptocurrency attacks own legitimacy.

Re:

[bobbied]

In Soviet Russia, Crypto currency is the definition of legitimate. It's how they make money off you capitalist pigs...

But it's true

[iamhassi]

They're doing stories about people losing money in bitcoin. That's true, many have lost money, so what's the problem? It's not like they're a news agency that should be unbiased and present both sides of a story, they're a bank smearing.... is bitcoin even a competitor really? This seems more like a cautionary tale than a smear campaign

Re:But it's true

[Mr307]

You just need the faith that completely unregulated gambling is going to work out great for 'everyone'.

Stop being an unbeliever.

Re:But it's true

[war4peace]

There are aspects that make or break this thing.

You're saying "hey, it's true, what's the fuss?" - well, Poland is in the EU, and the EU has strict regulations around paid advertising.
Any advertising that's paid for MUST explicitly be identified as such.

For example, I could, as a Youtuber, make a video exactly like the one discussed in TFS and not be paid by anyone. I could express my own opinion, using my own resources (time, money) and monetize the content, earn money out of it, form opinions in my followers, etc. That's fine.
Similarly, I, the Youtuber, could be paid by a bank to make a similar video, and it's also fine as long as I explicitly mention in my video that it's advertising paid for by the bank, with the bank's name and everything.

I am not allowed to make a video, be paid by the bank, and not mention that anywhere.

Not sure which was the case because TFS is paywalled and I am not turning my adblocker off for that site.

Re:

[war4peace]

Sure they are.
If I pay you to convey $information to your readers / followers / crowd, it's advertising.

Re:

[Luthair]

They are a central bank, not a bank..

So?

[Bruce66423]

The central bank should still be subject to the same regulations.

Re:

[rtb61]

It's just the modern era where telling the truth is a smear but then again not that modern. Take your typical monarch from the past. The only story they wanted told about the past, was ones that made them look good, tell the truth and you would earn yourself a thorough hanging, drawing and quartering https://en.wikipedia.org/wiki/... [wikipedia.org]. An idle thought, it always strikes me as funny when archaeologists report things carved into walls et al as factual when the reality is, you could only carve et al what the mo

Re:

[MoaDweeb]

Gambling is not Investing.

This is common pattern in Poland and elsewhere

[Anonymous Coward]

In Poland you have right-wing nationalist government who won elections thanks to such massive campaigns.

They have 20% support but have majority in the parliament thanks to smearing everyone else with lies and fake news and populistic promises.

Similar things are tried in many other countries - often campaigns are directly controlled from Kremlin.

Re:

[easyTree]

> often campaigns are directly controlled from Kremlin

baseless rumors and lies

Yeap; pretty sure that's what GP is saying, the baseless rumours and lies are directly controlled by Kremlin.

PSA

[ugen]

Sounds more like a "public service announcement" for the Youtube generation. Good on them for warning people.

Re:

[Luthair]

Yup, there have been enough bitcoin supporters writing "viral" puff pieces (no small number submitted to Slashdot) over the last 8-years without disclosing their conflict of interest.

What legitimacy?

[fedos]

Hard to attack the legitimacy of something doesn't have any.

"Was Accused"

[fedos]

...Poland's central bank was accused of hiring YouTubers...

Since the accusation came from Business Insider, this is like when Fox News says "people are saying".

Re:

[DNS-and-BIND]

This is like when the New York Times lied about the Tesla car. "When the facts didn't suit his opinion, he simply changed the facts," Musk wrote. [teslamotors.com] A Times spokeswoman reiterated that its story was "fair and accurate."

Re:

[AHuxley]

Think of the quality 13 Russian media experts could bring to the video clips.
Educate Poland about the wonders of the emerging gig economy and make Poland trust its own government.
Central banking saves the nation from crypto currency speculation.
Think of the production values Russian have in understanding the local Polish culture.
The central bank in solidarity with Polish workers protecting their savings from risky crypto currency fluctuations.
"I'm from the central bank and I'm here to help"

Good!

[slashdotiscompromisd]

People who are so easily influenced by authority do not deserve the first crack at freedom.
I sure hope this experiment pays off those with courage and gives our suffocating society a breath of fresh air.

-o-

[easyTree]

According to Business Insider Poland, the Narodowy Bank Polski spent around 91,000 zloty ($27,300) on a marketing campaign designed to attack the legitimacy of cryptocurrencies.

Um, what's that, like $27,300 / $10,386 [bitcoin.com] = 2.6... BTC.

Public Service Annoucement

[DogDude]

What they did was a PSA. It was a good thing. Governments should provide citizens with information that helps prevent them from getting ripped off. If the US were run by sane people, we'd do the same right now.

Poland's gone rogue

[RonVNX]

This is among the least bad things the Polish government's done lately.