Ars Technica Just Doesn’t Understand Bitcoin, Says Forks Have Split Network in Half
Expecting mainstream media coverage of Bitcoin’s surge past $5,000, today I browsed over to one of my favorite news websites: Ars Technica. I was sorely disappointed at what I found, and at the fact that the preeminent tech news site simply doesn’t “get” Bitcoin.
Why and wherefore
The piece by Ars Technica immediately begins by questioning the reason behind Bitcoin’s high price, first speculating that it’s due to the ICO boom, then suggesting that “one factor may simply be that the Blockchain bubble hasn’t run its course.” The author goes on to suggest that Bitcoin’s price is even more surprising in light of its recent—and upcoming—forks. Finally, he concludes that maybe people are hoping that holding Bitcoin pre-fork will result in financial gains post-fork.