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A Culture War Is Brewing Between Bitcoin’s Old and New Money

An effort is underway to strip some of the cryptocurrency’s still-anonymous early adopters of their remaining power.

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Satoshi Nakamoto may be long gone, but his early followers are still around and their identities still unknown. They go by pseudonyms, such as Cobra, and frequently spout unpopular, pseudo-anarchist rhetoric.

As the cryptocurrency’s price soared in recent years, Bitcoin’s Old Money and New Money coexisted with only occasional conflict. But this year, a prolonged slump has wiped out more than $100 billion in wealth, and the ensuing panic over how to stabilize the currency has incited a Gatsby-esque class war.