Polish Central Bank Funds Defamatory Youtube Videos about Bitcoin

By Vaughn Hoisington | Poland

On February 9, the Central Bank of Poland sent a letter that acknowledges their part in funding a campaign of social media posts that purvey unfavorable opinions of cryptocurrencies.

Around $27,000 were spent on the campaign in exchange for the production of anti-cryptocurrency content. The recipients of the money included Google Ireland Limited, Facebook Ireland Limited, and Gamellon, a Polish Youtube partner network.

Two Youtube channels were reportedly funded.

One of which being Polish Youtuber Marcin Dubiel, for his production of a video titled “I LOST ALL MY MONEY?!,” that entails him going broke after investing in cryptocurrencies.

The second channel to be paid was Planeta Faktów (Planet of Facts). The description of their video “10 differences between money and cryptocurrency that you need to know,” included a hashtag that is directly associated with a website created by the Polish Central Bank to warn people about the dangers of cryptocurrencies. The website goes on to state that “virtual currencies are not money,” and expresses that they only have value among their users, as they are not “guaranteed by any central bank in the world.”

There have already been a number of central banks to release statements to dissuade people from the seduction of economic opportunity that the thought of investing in cryptocurrencies can convey, but for a central bank to spend money on denigrating campaigns is rare.

The funding of these campaigns is a bit contradictory since Venezuelan President Nicolas Maduro has stated that Poland was one of the countries interested in trading food and medicine in exchange for a share of Venezuela’s initial coin offering for their cryptocurrency, the petro.

Image from Bitcoinist