Bitcoin Forum

As you all know Apple had pulled the Blockchain.info app from its App Store broke in the early hours of this morning (UK-time) and the short-term effect seemed to be a dip in the price of bitcoin.

WHY does the media have so much control over Bitcoin price?

http://www.coindesk.com/venture-capitalists-bitcoin-companies-react-apple-blockchain-ban/


Apple declares war on Bitcoin, but it’s a war that it’s destined to lose:
http://siliconangle.com/blog/2014/02/06/apple-declares-war-on-bitcoin-but-its-a-war-that-its-destined-to-lose/

News affects the prices of anything people speculate on.   When speculating on something the most common thing you have to go on is news or potential news thats coming out.

Media affects price because it is one of the few things that reaches a broad audience. And humans, as much as we try, are psychological by nature. That being said, I still think there are some fundamentals other than news/media that drive price, but it acts more as a stabilizing factor rather than a driving force with price.

Do have to say, the issues with Mt. Gox have also affected price too (that's why there is a much smaller spread between it and the other major exchanges). Apple is powerful, but I don't think it was the only thing that caused this price swing; after all, just yesterday the Gox price shrank quickly driving the other exchanges down a little too.

there is the russia news... http://rt.com/business/bitcoin-russia-use-ban-942/

Because, the media is the powerful method of sculpting public opinion.

That's why its power was recognized in American governance as the 4th estate, the fourth branch of government behind the legislative, executive and judiciary,  and given protections as such.

You have to control the discussion, otherwise people get other ideas.

Like how in America there are only 2 political parties that are not much different. If you set up the discussion in framing of only these two parties with no talk to any other of the other 1000s of political positions, then you have effectively removed any other political consideration out of the predominant political discourse for the nation.

Looks at the owners of the media conglomerates in any given country. You'd be hard pressed to find any of them that were not directly involved in governance as well, with enough political interaction to improve their positions and further their greed and power.

 

media affects minds, that sell me cheap coins and then buy from me expensive coins.

thank you media, thank you media affected minds.

Yes but if goes back Down to $100 it will affecte Ur pocket and everyone's toooooo:!(

Guys here's apples CEO EMAIL tcook@apple.com PLEASE feel free to email and support blockchain:)
Here's my email to the CEO:)
""Hi, I've been a long time supporter of Apple, from the first iPhone :) I still have the first iphone lol :)  When people didn't believe in the iPhone I thought this people don't see where technology is going. I have always thought Apple was a supporter of future technology, bitcoin is the future and if you don't support the future and block any thing that's to do with Bitcoin your company will cease from being the number ONE innovative tech company in the world :) I love Apple but if your company Stops believing in the future (bitcoin) than I guess I will have to give up my iPhone for a Android phone or something:!) Please reconsider your decision concerning blockchain:!) ""
Thank you
Apple

tcook@apple.com

Sent from iPhone

Let us all know if you get a response on that one. I remember back in the day when steve jobs would randomly reply to emails sent from customers.

short answer to the first post

because 99% of people are sheep and at the slightest soundwave to shock them, they want to run. i personally dont eat grass and run at the slightest soundwave to shock me. and those that do panic over such things really need to look at themselves and work out, if they are this sheepish and fearful, is this high risk high reward new form of payment something they should really be investing in? as it seems their nerves can't handle it.

it seems those that live in fear should not be walking in a field of landmines. i personally love walking in fields of landmines. but thats because i know the true signs to look out for and ignore the false ones made to trick you into changing your direction.

and for those that are of a nervous disposition that still feel that bitcoin is for them. DO NOT invest such an amount to affect your nerves.

EG do not put your whole salary each week into bitcoin. but if you usually waste $90 a week on alcohol, fast food (items that end up down your toilet within 6-9 hours after purchasing) then waste that amount, and that amount only on bitcoin.

that way you will believe it to be your "disposable" income and not your living expense, and as such will not panic as much at the slightest bit of news.

i laugh at media stories. and their over dramatisation of the facts

EG "apple declares war on bitcoin"

........... no apple did not make a statement that they would track and kill any bitcoin users. they simply took it off of their website. this is not war, this is prohibition..

Well said.
Some people change their decision very easily after reading an article or forum post...

Yeah, that state ban, and I think there was one more story. It was like four negative stories in a matter of less than two days. Those kinds of things will definitely drive down price. Because it's all about perception.

media controlls btc price because governments controll bitcoin

The media has a large influence on anything speculative where the value is based heavily on public perception (which is shaped by media). For instance if all news outlets said at the same time that it was imperative that everyone buy at least 1 btc immediately, the value would sky rocket.

Why? Because we have a high percentage of 'sheep' in our population.

BTC is trending up....do what I'm doing, fill your boots while you can.

https://i.imgur.com/5vYheuk.jpg

That's why i am Sending the bitcoin flag into space. After the event hits main stream media prices on BTC will soar . https://bitcointalk.org/index.php?topic=441303.new#new

When we launch.You can get live stream video of the launch here http://www.bitcoinsniper.com/bitcoin-federation-of-space/live-stream-bitcoin-mission-to-space/

I have created the first Bitcoin space agency the Bitcoin Federation of SPACE http://www.bitcoinsniper.com/bitcoin-federation-of-space/ or https://bitcointalk.org/index.php?topic=452111.0

Could not answer the poll because of limited choices, but my answer is;

Media has so much control over Bitcoin price because people are excitable, fearful, riotous, irrational, uncertain and doubtful. Some may also say stupid.

The exchanges are media. So is Bitcointalk.org. Even the Bitcoin blockchain is media. They all induce us to either trade for Bitcoin, or to trade Bitcoin for other things.

Usually there isn't just one soldier in a war. Usually there are lots of soldiers working together. Lots of times the efforts of a single soldier mean very little. Yet, without all those "single soldiers" nothing would get done.

Do you want bitcoin to flourish? Become the media. Remain the media. Become the soldier. Remain the soldier. USE BITCOIN.

:)

The media is responsible for the majority of pumps and dumps since the inception of cryptos

There are two different subjects here.

One is about the power of media, which isn't only over BTC but also over elections and thousands of issues, and the second is about Apple versus BTC.
BTC has survived the silk road crash, and it will survive that sad affair with Apple. Back to the media, it's a sad fact that recent news, like the MtGox failure aren't positive news. I guess we just need more success-stories. It's a bit the ratings on politicians. Some months they're down, then they're up.

because bitcoin is a Ponzi Scheme Bubble back by nothing but rumor / lie / fake hope

that's why media or rumor matter

All currencies rely on faith that others will respect the values of that currency. A 100$ bill is only worth 100$ because we all agree that it the case. If we lost that faith it would just me a small green bit of paper.

With government controlled currencies it is easy for the general population to have this faith as they know that the government will, to some extent, enforce this perceived value and will be able to manipulate supply to keep it relatively stable (unless you have a failed state, weimar germany etc).

With Bitcoin there is no government to enforce value or manipulate supply so it really does rely does reply on faith. Peoples faith is based to on what others think and what others think is based to some extent on a media sector which needs to sensationalize everything to get interest and make money.

wow how old are you bro ! do you even now what BTC is ??? Please do so research and answer your own comment :)

It's not the media, but rather the people who follow it. People seem to panic sell on the slight bit of negative press and it has a snowball effect.


Don't feed the trolls  ;).

Because Bitcoin growth was in light of recent media attention, at the same time panic caused by the media can make the price fell

Like I said, we have too many sheep in our population.

They wouldn't have control if people wern't so ignorant and naive.

The media is a conduit for information.  Sure, particular outlets put their spin on things, hide, deceive even lie and make things up.  But in the end they are only a method for information to be distributed.  If you believe they control Bitcoin, that means there isnt another story, another side of more interest to the one they are running.  They don't control the bitcoin price, the market does, and if that only responds to media it suggests there is a lack of depth in the market.

Here we go again WOWOWOWOOWOWOW


BTC Price Declines Following False Report of Bitcoin Ban in China:

http://www.coindesk.com/bitcoin-price-declines-following-false-report-chinas-bitcoin-ban/

The "media" does not influence my bitcoin use. I know more than them.

Less 'control', more 'influence'.

WHY does the media have so much control over Bitcoin price?

the answer comes in 4 stages

1) because you read it.
2) then make choices because of it
3) without researching the truth.
4) because you dont have time to research due to emotions making you panic to want to take control of your wealth that instant

they have control because so many people watch the media, they say something good and you get hundreds of people that dont know wanting to invest

When you fall back to the 'sheep' argument, it shows that you really don't care to hear other people's opinions. Why should they care about your opinion then?

Why do people buy Apple products? They're all sheep.
Why do people vote for Obama? They're all sheep.
Why do people believe in global warming? They're all sheep.
Why do people believe in religion? They're all sheep.
Why does the media hate bitcoin? They're all sheep.

There are logical reasons for people to be on both sides of any issue. Equating the other side to 'sheep' means you are unable to step in their shoes and understand the real reasons. You'll never get people to understand YOUR side until YOU understand THEIR side.

Bitcoin is NOT all amazing and awesome. Yes, there are parts of it that are if you have a certain point of view, and I LOVE certain things about bitcoin. There are also really scary parts too, all depending on your point of view.

For example, when I hear someone say, 'bitcoin is awesome because there are no transaction fees', I laugh. It makes NO SENSE AT ALL to love bitcoin for that, at least right now. If I get up in the morning with 1 btc worth $600. I go out an hour later and want to buy something. My 1 btc might be now worth $630 or $570. Really! It's gone up or down 5%! As a consumer, it doesn't really matter at all if I was charged 3% using a credit card, my btc fluctuate so much that I might pay more or less, I don't know. Once btc are more of a stable currency, THEN AND ONLY THEN I will be interested in the 'no transaction fee' thing.

FUD  :P

Bitcoin has transaction fees. Fact.

Those questions are worded... "interestingly".

The questions are kind of misleading. To state that "nobody controls Bitcoin" isn't really true. The majority controls it.

This is equally true for exchanges as the network. If demand is down and supply is up, the price falls. If the media can increase supply (get people with Bitcoin to want to sell them, unlikely) or reduce demand (get people to not want to buy Bitcoin, likely) then they can lower the prices.

Because most people are very stupid.

I do believe that what the other refer to is the fact that Bitcoin has such a low transaction fee compared to fiat currency. And, there can technically be no transaction fee but it will take days to confirm  :)

if you actually see what I wrote on page 2 you will know your answer and this should be closed after it :)

+1 True but we have to show them their stupid-nest  jejjejeeje