Bitcoin Forum

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I think this is the first time Bitcoin has been discussed on CNBC (other than just the website).

UPDATE: Here's the clip

http://www.youtube.com/watch?v=y1POVoi9NPk (http://www.youtube.com/watch?v=y1POVoi9NPk)

listening...

what time?

Good find!

Right now - 4:40 pm EST

there it is!!!

at work.. all streaming & video blocked.. can someone please post a synopsis or a blow by blow..

thanks,
Sigg

commercial break?

Not bad.

He used the word 'universal!'  That's been missing...

The next guy is a gold bug - a dumb one...

You hit on something that we can use in articles and descriptions.

that's Michael Pento, a rabid gold bug.  he doesn't understand it and points to his IT dept as saying Bitcoin will never make it.

as i'm fond of saying:  "some geeks fail to understand that which they hath created".

I knew there was something missing.  How could every bitcoin-head on earth have forgotten that word?

even the Expensify guy doesn't understand Bitcoin as he made a few mistakes such as "each coin is harder to make".

but at least he believes and defended himself well against Pento.

"He's entire IT department"...wow..he needs to hire some better folk's. Mainstream is still clueless.

Oh dear Erik, the Expensify guy desperately needs your help.

as an example of just how far Pento has gone off the cliff listen to him "threaten" every person who doesn't go out and buy gold right now:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2013/3/21_Michael_Pento_files/Michael%20Pento%203%3A21%3A2013.mp3

the money part is near the end.

3 morons asking questions at the same time!! However, they couldn't hide their fear of maybe being too stupid to understand something really important !

Can we find a replay somewhere? i just missed it.

So bitcoin can be easily counterfeited and produced at will...got it. I better buy some non-counterfeitable gold.

caught the tail end..  man was that bad,  in the last few minutes that I caught I don't think they got a single fact right.

THE MONEY HONEY talking about Bitcoin!!!

i'm in love. ;)

I only caught the last 30 seconds of the discussion, did anyone record it?

More clueless old dudes babbling about "the bitcoin" while the girl and young guy look at them like they are idiots. It was good I think.

I actually thought the Expensify guy did pretty well. I love his refutation of Mike Pento... "I hear you saying that, but it doesn't make it true."  Hahah yes.

Pento was idiotic, saying Bitcoin won't work because it can be counterfeited and "isn't scarce." Sigh.

I think the segment will suffice to pull a bunch of people to Google to ask, "what the hell is a bitcoin" and that's all we need them to do. Down the rabbit hole they will go.

What gets me about these gold bugs is of the gold and BTC I have, the BTC is easier to acquire, easier to store, easier to spend or transfer, and has appreciated more. How am I supposed to spend my gold? Shave a sliver off at the register, or mail some to an online merchant?

Those who like gold for the wrong reasons tend not to understand Bitcoin.

Those who like gold for the right reasons understand Bitcoin immediately.

Gold is an excellent, though not infallable, money. Understanding the features of it which make it excellent will inevitably draw one into an attraction toward Bitcoin for the same reasons. The two make excellent partners.

UPDATE: Here's the clip

http://www.youtube.com/watch?v=y1POVoi9NPk (http://www.youtube.com/watch?v=y1POVoi9NPk)

mainstream viewers will probably go "Bitcoin? Yeah right, April Fool".

The 2 idiots that had no idea what they were talking about would not let the guy talk that actually sounded like he knew a thing or 2 about Bitcoins... lol.

Works beautifully, and is at the source for the screenshot-or-it-didn't-happen crowd that we all probably are.

And the guy who did have a clue was bright enough to point out that there are people who know more about bitcoin than he does.  The two idiots were too full of themselves to be able to suggest someone more knowledgeable.  The anchors were totally overparted in that interview. They should have been the ones to have reined in the idiots.

The more people who google "bitcoin" the better the market stands to become. The quintessential example of "any publicity is good publicity."

That said, it's also interesting that no one mentioned today's security breach.

That was hilarious. The expensify guy did a really good job. I love how his expression turned to an amused "Really?" every time Michael Pento opened his mouth.

Erik Voorhees - youtube:

Mike Pento - this guy does not understand how easily his money form credit cards can be stolen.
'Bitcoin is protected by the laws of the universe.'
While the credit cards are very poorly protected.
And due to banks on Cyprus - no one should ever trust there is such a thing as "bank insurance" :)

Bitcoin is like the opera. You are going but you don't really understand it or you are hooked for life.

Or both - and with that, I am headed out of here for an opera rehearsal. For real!  Ciao tutti :)

I like how he said the U.S. government would shut it down if it got too big.

Unfortunately, it looks like Pento does not understand the first rule of not looking stupid: shut-up when you are not competent.

It is better to remain quiet and be thought a fool than to open your mouth and remove all doubt.

How typical, there poor guys all talk at the same time, because they have to exponentially increase efficiency (together with their talking speed) to grow the economy in a debt driven monetary system  ;D

YOU WANNA know what that video makes me remember?

http://www.youtube.com/watch?v=Z0YTY5TWtmU

That... filmed in 2006

Maybe we should help educate him?   

@michaelpento1

He probably stuffed his IT with his yes men.

As for the TV in general, my guess would be that they use this level of precision and technical accuracy on all TV they produce, it's just that when they speak about other stuff it's not so obvious.

http://www.ivygateblog.com/wp-content/uploads/2011/09/923-facepalm.gif



How do these people manage to get on TV.

They could have spent 5 minutes reading the wikipedia entry for bitcoin and been more prepared. While I think the Expensify guy did an ok job, he could have absolutely slaughtered Pento on every single word he said.

I like the part when the bitcoin defender say to the goldbug guy : " I ear you say that, but that does'nt make it true"  :D  priceless !

Sometimes the guests are invited but other times they pay to be included. TV needs approximately 10,000 guests per day so it can be difficult for them to find qualified guests under the time pressures. Then each slot has different value to advertisers based on its demographics and ratings.

Obviously, with financial TV it is more lucrative so there is not really a shortage of free guests and so they can give more airtime to paid guests. But finding a paid Bitcoin expert is probably pretty difficult; I doubt MtGox is paying a PR firm a retainer.

So in this case, the Expensify CEO would be qualified as an expert and was likely invited to represent a 'pro-bitcoin' side. Pento likely pays a PR firm a retainer of $5-10k per month so he gets invited on a regular basis and was to take the 'con-bitcoin' side.

Thanks for posting the vid, I walked out of the room and missed it and hoped someone would post a thread to discuss it, even thought I knew what was gonna happen I'm still very glad to see it being discussed even if it's buy the ignorant loud mouths on tv.

Yeah, the Pento ... well. Bad publicity is ... But he's just so wrong on the most basic bitcoin ideas. I mean, I don't consider myself a complete newbie, but when I was a newbie, I realized immediately within 5 minutes, what bitcoin is, what it isn't.

I can't help but laugh at these people, can't take them seriously anymore :D

The guy in the middle's face at the end was priceless and exactly what I do whenever I hear people talk about Bitcoin.

Hilarious! At 6:00

This is great!

I think it was perfect with its flaws and everything. Stirring some curiosity.

yes... that was awesome!

That guy's "IT department" told him "Bitcoin will never work" (basically what boss wanted to hear)... then ran home and started building bitcoin mining rigs  ;D

I got to know bitcoin watching CNBC Europe in May of 2012. They commented on it very shortly though.