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Poland's Central Bank Accused of Paying YouTubers To Make Videos That Attack the Legitimacy of Cryptocurrencies (businessinsider.com) 76

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

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  • by Anonymous Coward on Wednesday February 21, 2018 @04:20PM (#56165773)
    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.
    • 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.)
    • Come one SlashDot, I need contact info. Who exactly do I need to talk to, to get on this gravytrain?
    • Don't worry, they pay in bitcoins.
    • > 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.
  • cryptocurrency attacks own legitimacy.
    • In Soviet Russia, Crypto currency is the definition of legitimate. It's how they make money off you capitalist pigs...

  • But it's true (Score:4, Interesting)

    by iamhassi ( 659463 ) on Wednesday February 21, 2018 @04:25PM (#56165815) Journal
    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
    • by Mr307 ( 49185 ) on Wednesday February 21, 2018 @04:49PM (#56165985)

      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 (Score:5, Insightful)

      by war4peace ( 1628283 ) on Wednesday February 21, 2018 @05:05PM (#56166085)

      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.

    • by Luthair ( 847766 )
      They are a central bank, not a bank..
    • by rtb61 ( 674572 )

      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

  • by 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.

  • by ugen ( 93902 )

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

    • by Luthair ( 847766 )
      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.
  • Hard to attack the legitimacy of something doesn't have any.
  • ...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".

  • 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.

  • 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.

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

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