Bitcoin Forum

...But most unfair of all is that bitcoin’s shady image causes people to overlook the extraordinary potential of the “blockchain”, the technology that underpins it. This innovation carries a significance stretching far beyond cryptocurrency. The blockchain lets people who have no particular confidence in each other collaborate without having to go through a neutral central authority. Simply put, it is a machine for creating trust.

If it was in the Chinese equivalent of the Economist it would be bigger news. The British Bitcoin exchanges don't dominate the market like the Chinese ones, their volume is tiny. Perhaps there has already been an article in the Chinese equivalent that we don't know about, and that's what's pumped the price. It's good to see Bitcoin getting more publicity though.

http://cdn.static-economist.com/sites/default/files/imagecache/print-cover-full/print-covers/20151031_cuk400.jpg

To people who are not familiar with this magazine, it's very highly regarded everywhere in Europe. It's British and more than 150 years old. I bet this cover page alone is worth a rise of at least 3% in BTC's price. The article is also available online but you need to register.

http://www.economist.com/ (http://www.economist.com/)

I thought it should read "The trustless machine"? There is no trust in bitcoin, as it is not needed.

I would like to find it somewhere on the Internet to read it. Is it published online too?
This is the kind of news we need.

It's great to have an article in the Economist about bitcoin. Not quite, mostly about blockchain technology. I believe this could be a better approach to have economists (people) appreciate bitcoin. Most have debunked bitcoin for it's deflationary properties.

Direct link:
http://www.economist.com/news/leaders/21677198-technology-behind-bitcoin-could-transform-how-economy-works-trust-machine

The first time I knew about bitcoin was about 3 years, I read an article in The Economist. I did not take it seriously. The bitcoin has grown a lot since then.

The first time I found out about Bitcoin 3 years ago, I too was an occasional reader of The Economist. I stopped taking The Economist seriously.

It's great to have an article in the Economist about bitcoin. Not quite, mostly about blockchain technology. I believe this could be a better approach to have economists (people) appreciate bitcoin. Most have debunked bitcoin for it's deflationary properties.

The article talks about nothing bitcoiners wouldn't know:


Direct link:
http://www.economist.com/news/leaders/21677198-technology-behind-bitcoin-could-transform-how-economy-works-trust-machine

Via Google if site wouldn't let you read the article:
https://www.google.com/search?q=The+trust+machine+site%3Aeconomist.com&oq=The+trust+machine+site%3Aeconomist.com

Wow guys, this is a huge freaking news! You have to earn a right to be in this magazine, let alone to be on the cover page! This will introduce Bitcoin to the higher class, more eminent people that are reading the Economist!

I can only say that Bitcoin is in a fifth gear when it comes to promotion, adoption and acknowledgement by the masses!

Nice that Bitcoin gets some free advertising.

Bitcoin? No. Blockchain? Yes.

The actual story on Bitcoin in the Economist doesn't hail Bitcoin as a currency, it appreciates the blockchain technology behind it and predicts that banks and other businesses can create their own blockchains for whatever use they see fit.

I thought it should read "The trustless machine"? There is no trust in bitcoin, as it is not needed.

First, let’s understand why the change in narrative had to happen, why it was necessary and indeed inevitable.

Bitcoin, to many in the world who have casually heard about it, is an uncomfortable and cryptic creature, existing somewhere between Ponzi Scheme and “money used by bad people.” Didn’t Bitcoin go bankrupt in Japan? Wasn’t the CEO arrested? To others, it’s just downright weird and unnecessary. Visa works just fine, thank you.

More importantly, though, to professionals in the money realm – to bankers and investors and financial regulators – Bitcoin is an awkward and annoying development, a technology almost all of them dismissed as absurd and useless, and yet it keeps growing. Bitcoin promises a dangerous world without strict top-down financial control. Terrorism. Think of the children. Bitcoin made the term “fiat” a thing, and when something has a name, it can be critiqued. Every day Bitcoin exists, it demonstrates the naive idea that money may be able to work without central planning. Worst of all, Bitcoin brings with it an obnoxious cult spouting proletariat nonsense like “financial privacy is a human right,” and “money should move faster than an anvil FedEx’d to Singapore.”

What respectable banker wants to deal with that?

And while the technology brings with it vast promises of financial innovation, these cannot be discussed in terms of “Bitcoin,” because this term brings with it all the aforementioned baggage. One cannot discuss Bitcoin in polite company, for the conversation may veer into one of monetary theory, human rights, massive sovereign theft and bank fraud… better stick with the weather.

But how do you convince your boss or shareholders that you’re keeping pace with innovation? They read the news, they know that disintermediation is a thing. At the edges of their mind, they have a sense that, perhaps, charging $45 to send a money transfer message is neither logical nor sustainable. As Jamie Dimon recently warned in his annual letter to shareholders, “Silicon Valley is coming.”

Enter “Blockchain.”

Ahhh, what a term! It encapsulates all the magic, all the technological brilliance, all the promise and the sparkle of true financial innovation. And it does it without devolving into a discussion of Silk Road or Jekyll Island.

Blockchains, as a concept, are not controversial. Bitcoin is highly controversial. That is why the narrative changed – because “Bitcoin” makes financial professionals uncomfortable. There was no conspiracy to change the subject, it just happened naturally; the path of least resistance.

This is bigger than many people might think... They have over 1.5 million average weekly circulation and more or less 50% of that is sold in the U.S.A

They also have about 11 million twitter followers and about 6 million Facebook followers and +/- 10 million Google Plus followers.  8)

We are not talking about the local news paper here... The viewers are mostly financial and highly educated people with loads of money to invest.  ;)

Thank you kindly for putting this into perspective. Interesting stats!

This is bigger than many people might think... They have over 1.5 million average weekly circulation and more or less 50% of that is sold in the U.S.A
They also have about 11 million twitter followers and about 6 million Facebook followers and +/- 10 million Google Plus followers.  8)
We are not talking about the local news paper here... The viewers are mostly financial and highly educated people with loads of money to invest.  ;)

Do you realize what exact words are they using on the cover? It is not: Bitcoin can change the world - instead it is - How technology BEHIND bitcoin (I assume: blockchain) can change world.
This is a huge difference.

The "blockchain" is the genius of Bitcoin (not the currency).

Interestingly enough Satoshi basically invented nothing (even the blockchain concept had been documented before Bitcoin).

What he (or they) did was simply put together a bunch of ideas into a practical and working piece of P2P software.

Yeah! this should have made some upward pressure on the price. This year was o a hell of a great year for bitcoin and the blockchain. I believe next year will be even better!

Exactly, the one virtue that Bitcoin does have, however, is its community support....the lunatic fringe who inspired the early adopters who now move the chain and confirm the ledger.  The blockchain works the magic but the community waves the wand.  Bitcoin is the community that stands behind it; the community is what makes exchanging bitcoin unique.

Having said that, the blockchain technology that many economist are getting excited about is the key that makes this whole concept work.  Magazines such as the "Economist," are in the process of building another community around a blockchain technology that will change the way people interact economically....it may not be the community we call "Bitcoin," but it will be a very valuable resource none the less.

Do you realize what exact words are they using on the cover? It is not: Bitcoin can change the world - instead it is - How technology BEHIND bitcoin (I assume: blockchain) can change world.
This is a huge difference.

Magazines such as The Economist have spent the past 4 years of Bitcoin's existence trying their best to ignore one of the most extraordinary technological achievements of all time, and in the arena of finance no less.

To people who are not familiar with this magazine, it's very highly regarded everywhere in Europe. It's British and more than 150 years old. I bet this cover page alone is worth a rise of at least 3% in BTC's price. The article is also available online but you need to register.

http://cdn.static-economist.com/sites/default/files/imagecache/print-cover-full/print-covers/20151031_cuk400.jpg

To people who are not familiar with this magazine, it's very highly regarded everywhere in Europe. It's British and more than 150 years old. I bet this cover page alone is worth a rise of at least 3% in BTC's price. The article is also available online but you need to register.

http://www.economist.com/ (http://www.economist.com/)

Oh yes, this is good.

This is like to see.

Next thing we need is to have stock exchanges get into Crypto, Wall Street as well. After all, BTC is a good, it can be freely traded.

I heard about The economist magazine before and it is very popular.
About the cover the design is great :), and i hope that will rise the bitcoin price.
From now i think that other magazines will try to copy this article and spread bitcoin article :)

Wow guys, this is a huge freaking news! You have to earn a right to be in this magazine, let alone to be on the cover page! This will introduce Bitcoin to the higher class, more eminent people that are reading the Economist!

I can only say that Bitcoin is in a fifth gear when it comes to promotion, adoption and acknowledgement by the masses!

Magazines such as The Economist have spent the past 4 years of Bitcoin's existence trying their best to ignore one of the most extraordinary technological achievements of all time, and in the arena of finance no less. To spend any portion of their capitulation attempting to denigrate what Bitcoin genuinely represents is simply a tacit admission of fault on their part. The vast proportion of their coverage has been spent interviewing Mike Hearn; now persona non grata amongst professionals, and strangely also the one developer who sought to change Bitcoin into a system that more closely resembles central banking in comparison to what Satoshi originally proposed.

So any attempt to portray The Economist as somehow the leaders of a cryptographic vanguard is misleading at best. Before Bitcoin, The Economist's name was to some extent synonymous with being well informed about technology and finance (amongst other qualities). Since Bitcoin, no longer. Their bias on monetary issues is naked.

Yeah im sure this has been commented before today. Huge news, even tho they insist on the "blockchain technology" discourse if you read the actual article. Cool looking cover, but the article commits the same mistake of all the other guys on mainstream media did. I guess it's how they cope with the fact Bitcoin is about to disrupt the entire industry, so they want to stick with the blockchain tech thing.

Seems like BLOCKCHAIN is becoming the hit word. People don't like what bitcoin is associated with...so, bitcoin is now blockchain! This is now blockchaintalk.org

Seems like BLOCKCHAIN is becoming the hit word. People don't like what bitcoin is associated with...so, bitcoin is now blockchain! This is now blockchaintalk.org

Seems like BLOCKCHAIN is becoming the hit word. People don't like what bitcoin is associated with...so, bitcoin is now blockchain! This is now blockchaintalk.org

There comes a time when it all ends up with this: You have to take a decision on where you are at, and you can only have 2 options
1) You get on Bitcoin now and acknowledge his potential then reap the benefits later
2) You keep being a skeptic/hater and become a laughin stock later, just like the "the world doesn't need computers" guys.

Do any retailers sell this here in the us?

Do any retailers sell this here in the us?

How much do you think the recent bitcoin pump can be attributed to this article?  It seems like there's is a correlation between the two events....but, we do have devcon coming up and the recent Silk Road BTC auction...so....what do you think?