The declaration by free speech social network Gab that the firm was still allowed on Square’s bitcoin-friendly Cash App after being banned on other platforms may have been premature. This emerged after the social media platform that is occasionally referred to as "alt-right Twitter," over…
The declaration by free speech social network Gab that the firm was still allowed on Square’s bitcoin-friendly Cash App after being banned on other platforms may have been premature.
This emerged after the social media platform that is occasionally referred to as “alt-right Twitter,” over its popularity with extremist right-wingers, disclosed that the personal Square Cash account of the firm’s founder and CEO, Andrew Torba, had been deactivated.
Earlier this month as CCN reported, Gab had posted a tweet that gave the impression that Square’s Cash App — which allows users to buy and sell bitcoin — had reactivated Gab’s access. According to Breaker magazine, Square might have unknowingly reactivated an account belonging to Gab but will continue to “pro-actively delete any new accounts that it learned were connected with Gab.”
Besides Square, other platforms that have banned Gab in the recent past include cryptocurrency exchange Coinbase, online payment processing firm Stripe, bitcoin payment service provider BitPay and online payments system PayPal.
Currently, bitcoin, as well as money orders and checks sent to its post office address, are the only ways for Gab to process payments for its premium service, GabPro. On January 8, Gab announced that it had integrated with open-source crypto payment processor BTCPay Server.
The bans by mainstream firms have turned Gab into a forceful advocate of bitcoin, which it has dubbed the “free speech money.”
Recently in an email that was sent to its more than 850,000 users, Gab said that bitcoin was currently the best way to support alternative media. The free speech social network, however, urged its users not to focus on the price of bitcoin but rather its utility value:
Many people fixate on the price of Bitcoin. That’s not what is important here. What’s important is censorship-resistant free speech money and payment processing. So long as you own bitcoin, you can support any person, business, or cause that you wish without permission from any bank, government, or corporation. You do not need to buy a full bitcoin to use it. You can purchase $5 worth of bitcoin or $5 million worth.
Despite being banned on Cash App, Gab still recommended the app, saying it was “one of the easiest ways to get bitcoin right on your mobile device.”
Gab has also previously advocated for decentralized exchanges as a way of protecting against financial censorship:
As predicted: the on ramps and off ramps (exchanges) are going to start censoring not only companies, but also individuals. Coinbase has now banned both Gab’s merchant account and Andrew Torba’s personal account. Decentralized exchanges are the future.
Andrew Torba Image from PAHomepage.com/YouTube
Last modified: January 24, 2020 10:52 PM UTC