Bitcoin is hitting the news, but journos are getting the story wrong.
So wrong.
Most journalists writing in this space are focussing on the BTC price. Is it a bubble? What is Bitcoin anyway? These are the things they're talking about.
The reader would be lucky to come out of the minutes spent reading with any context at all.
So what is the context?
It's about technology. It's about the incremental adoption of blockchain into computing services, the internet, and the gods only know what else.
Because underlying the hype, the drama, the fast money and the cool crypto coin logos is the simple truth that the world is on the cusp of a series of technological disruptions enabled by blockchain technologies.
Don't get me wrong. It's not all going to happen right now, or even in the next few years. But some of it is happening already. Bitcoin is challenging traditional currency models. STEEM is facilitating ethical social media which rewards the content providers (hello!). Ethereum is enabling fast and secure contracts while also allowing new cryptocurrencies to piggyback their initial offerings off its blockchain.
And there are more. So many more.
That's the news. Blockchain technology is enabling innovative disruption on a scale unprecedented. And we have only just begun to witness the impact of the very tip of the blockchain iceberg as it carves its way through the existing order.
And some of us think that's exciting.
Image courtesy of pixabay.com
I was thinking about this the other day when I was reading The Atlantic's piece about Bitcoin and crypto. The author honestly had no clue, and they were focused on all of the wrong things, but they wrote enough words and interviewed enough people to make their piece come across as authoritative.
That being said, the misunderstandings are in part a messaging problem of the community.
I think you're right there - and it's becoming a pretty diverse community too🙃
I think you totally hit the nail in the head with this one. I was thinking the same thing a few months ago when I finally took the time to understand the blockchain, we are really on the verge a huge technological shift.
Yep :-)
Some of it, probably most of it, people won't even recognise as blockchain. It'll just be the internet and computers and stuff being heaps better...
I keep trying to be a bitcoin evangelist but it is an uphill battle. And most people just regurgitate the talking points on lame stream media.
The problem is looking at it only as a currency. It is so much more than that.
But maybe we are just in more of an opportunity time. To mine more. To buy more. To stack more.
I watched an interview with Andreas Antonopolis where somebody asked him about what is it going to change in maybe Canada? He replied (I'm paraphrasing) "If you don't understand it. Its not for you."
Good post Doc. I could not agree more.
Thanks mate
And it's not just bitcoin - there's EOS too 👍
Things are going to change, some things slow, some fast, but change they will
I'm big on EOS. And it is progressing wonderfully. Unlike most ICOs. I think its gonna be a big winner.
But I notice if I hit people with too much info about alts I loose them. Most don't know there is more out there then bitcoin.
the surprising thing is not that journalists get most of it wrong.
what's amazing is that they get ANY of it right.
Like the so-called "experts" on Fox Business or other financial shows. This is literally your only job and you couldn't watch a 5 minute video to educate yourself on the basics?
I'm surprised and I know I shouldn't be. There has been no truth in news for years.
news is bait for advertising
(ads take up damn near half of the airtime)
bait doesn't have to be nutritious...just appealing.
We got rid of cable almost 4 years ago. Just have KODI on a machine to watch our shows and movies and netflix. Consequently we don't see commercials very often. Most of my "news" is radio, youtube and internet.
Can't say I miss cable at all.
same here.
the wife watches 'broadcast'...we have an indoor antenna.
I don't watch it at all....
Only internet for me.
Plus basic cable is crazy expensive. I pay $50 a month for internet.
Hahaha
Yep
It's not a bubble. It never was. It's backed by technology. Technology has always been the future, thus bitcoin is the future. Fiat currency has been broken for years. It's time for change in the right direction and bitcoin is it. No bubbles here. (unless you're poppin that champagne)
🥂🍾
when pullback? hehe
hmmm you are all right
friend thnx for blog you shared with us
really helpfull & learning blog thx for share👌👌
👍
So true, upvoted with 100% voting power.
Thanks :)
This post has received a 7.83 % upvote from @booster thanks to: @drwom.