ScaredyCatGuide Reviews the Associated Press Article: What is Bitcoin?
Last night the associated press (AP) releases an article on bitcoin. This is noteworthy becomes AP is the standard when it comes to news articles and the reach is larger. You will find this article on everywhere from ABC news to Yahoo, etc.
What is Bitcoin
The article leads off with a great sentence; "It's worth more than an ounce of gold right now.."
- Well, that is certainly attention grabbing for the everyday Joe. Everyone knows what gold is.
That compliment quickly turns into a backhanded when as it's followed by; "it's completely digital and it's the currency of choice for the cyberattackers who crippled computer networks..."
- Great - way to scare everyone off already!
I will admit it does get better from there and they give a good layman's description of bitcoin, stating things and I such as:
"The coins are created by users who "mine" them.."
"The coins also can be bought and sold on exchanges with U.S. dollars and other currencies."
Who is using Bitcoin?
Well according to the article:
"Transactions can be made anonymously, making the currency popular with libertarians as well as tech enthusiasts, speculators — and criminals."
You gotta love how they emphasized "criminals" at the end. Clearly there is still undertones of distrust and shadyness when the media discusses Bitcoin.
The did mention Overstock.com accepts it, so that's good. They also mentioned the increasing popularity as Bitcoin transactions have surpassed 300,000 a day recently.
Anyway, check out the story for yourself. I think on a whole there is a little less "hating" in the article than I have seen from mainstream media in the past.
Original story source: http://abcnews.go.com/Technology/wireStory/ap-explains-bitcoin-digital-currency-47394494
Regards,
Image Source