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Title: The media and financial media's incorrect valuation of Bitcoin Post by: usscfounder on December 14, 2013, 04:16:24 PM The press has recently and incorrectly covered the rise of bitcoin with some giving it an incorrect valuation while quoting wall street valuations of the cryptocurrency. I think someone needs to inform the press of the true potential of bitcoin.
The press needs to recognize the following: Quote from: https://bitcointalk.org/index.php?topic=369943.0 Quote One has to look at all of the money worldwide. This has to include M1, M2, and M3 money. Then one has to look at derivatives whice are a form of money used by the worldwide banking systems. According to wikipedia there is about 70 trillion in M1, M2, and M3 including derivatives. If one were also to include world debt that figure raises to about 700 trillion worldwide. World debt is comonly known to exceed 700 trillion dollars. If Bitcoin were to have a valuation of just a fraction of the above amount, each bitcoin would have a value of over $ 1 million USD. If It were to get a moderate piece of the world monetary market each coin would have a valuation of up to $20 million USD each! Do you think the press should be informed of the above? Or do you think their coverage of bitcoin's valuation is fair? Do you think the presses total coverage of bitcoin fair or is it biased? Title: Re: The media and financial media's incorrect valuation of Bitcoin Post by: Dafar on December 14, 2013, 04:18:50 PM I think someone should keep a history of all the bullshit and incorrect assumptions/predictions that the press spits out so that when time comes, we can bring these up again and make them look stupid until they lose all credibility from the public
Title: Re: The media and financial media's incorrect valuation of Bitcoin Post by: Reece523 on December 14, 2013, 08:39:03 PM Is the press really qualified to comment on this topic? By the time Bitcoin started receiving mainstream coverage it had been around what... Three years? Most of them missed the boat just like I did and now they are experts on Bitcoin? How exactly can you put an exact value on Bitcoin anyway? The only reason I see to care what the mainstream press says is because it's the Gospel for the world's sheep. Hopefully them sheep can be convinced of otherwise :)
Title: Re: The media and financial media's incorrect valuation of Bitcoin Post by: hilariousandco on December 14, 2013, 08:41:02 PM I think someone should keep a history of all the bullshit and incorrect assumptions/predictions that the press spits out Haha, that's probably 99% of articles in the mainstream media then :D. Title: Re: The media and financial media's incorrect valuation of Bitcoin Post by: oxxymoronn on December 14, 2013, 09:50:47 PM lol yeah I totally agree. The press is going to cover it the way they have been told to cover it, simple as that.
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