Bitcoin Forum

As we are all aware the MtGox fiasco combined with the blown out of proportion Chinese uncertainty (partially due to fake press releases designed to drive the price down), the media is having a hay day putting their negative spin on every detail no matter how small.

Generating fear and uncertainty resulting in panic selling, remember no news is good news.

While this is going on, the majority (not all) BTC coiners sit on forms, theorize, graph (I do graph by the way), discuss and complain about the plummet in price or the burst bubble.

I have been thinking for some time now about this and have come to the following conclusion;

Yes the press has power, yes the press can with this power cause fear and uncertainty, resulting in the price being driven down.

I put this to you, we worldwide as BTC coiners have power as well and are not using it, we have people that are intelligent, articulate, technically inclined and money savvy, why is it that we stand by idly and allow the media to dictate our fate our money.

We all have access to social media, blogs, hmmm even forums...

Why not make this as a call to arms if we band together as a group, each of us taking a few minutes every day to post a positive, success stories and accurate information, we as a collective can neutralize, maybe heaven forbid, even overpower the negativity of the media.

So let's all, me included get off our collective assets, put our fates in our own hands and turn this trend around crypto-currency is here to stay and is the future. HODL!

Good idea. We should focus on positives anyway in life.

Here is my post: http://bitcoinowl.com/hodl

http://bitcoinowl.com/sites/default/files/styles/500px_wide/public/field/image/HODL.jpg?itok=yO91Nag5 (http://bitcoinowl.com/hodl)

1. media don't do "happy news"
2. i do love the call to arms about correcting their FUD though. i have done this a few times in the UK media, and to anyone else half interested. it is not hard or scary. its simply writing a email or tweet, stating the facts and THEIR discrepancies. so if you feel they are wrong, not based on opinion. but on factual evidence. then please do inform them.

Nice idea......painfully weak ending.
You want to tell the whole world we are lemmings who mindlessly say HODL?
You are expecting that to actually help?   :D

I think the best way forward is to SPEND rather than SELL or HOLD.   There's no value to bitcoin if it isn't being used like money.

mmm.

The best response to the FUD, IMO, is fixing things. 

The concerns that people have are real -- mostly centering around our pathetic failures to protect ourselves from fraudsters, thieves, and broken exchanges.  We just got ripped off for a whole lot of value by a half-dozen enormous frauds, starting with Mt.Gox.  If we can't fix it so that won't happen any more, they don't wanna be us.

So, we need support for contracts.  We need support for proving that exchanges actually have all the coins they're promising to have at any given moment.

We have a global open ledger.  We need to fix it so we can use that to eliminate fraud.  THAT is when we will have a good answer to the people who don't wanna be us because we are vulnerable to fraud.

There are systems for that can be put on top of bitcoin, bitcoin denominated debit card transactions, checks, etc.   Bitcoin in it's rawest form is like cash.  You can't change the inherent properties of a currency to prevent fraud, i.e. you can't change the design of a $100 bill to prevent it from being stolen from you.

Oh boy... you lost me there :


All public goods are produced through self-interested labour.

SELF-INTEREST.

I personnally don't give a shit about the greater good of bitcoin if it involves me losing money.

Try you luck. Do some short selling.  ;D

Sounds like somebody who bought in before capitulation and then thinks that BTC is going to die unless we "save" it.  Traders are going to do what they are going to do.  The reality is they are going to trade on news, fundamentals, momentum and whatever other analytical means they thing is necessary.

They don't care about bitcoin from a humanitarian standpoint.  They are there to make money.  They may know and believe that crypto is not going anywhere.  As a long term investor and trader, that might help you with feeling out psychological bottoms, whereas there are a few traders that think this could go to 0 at any minute (those guys usually don't try and stick their nose out to catch the floor though) whereas the informed know that it would take a HEELUVALOT for that to happen. 

I'm not a pro trader or anything, and I trade with VERY LITTLE of my overall BTC, but most of my trades are sound.  I usually sleep in Crypto though, because my goal is to acquire more bitcoin and learn a little bit, regardless of $/BTC rate.

If you want us to outweigh the effects of the media then we need to be writing articles in the same publications.

Perianne did just that with this outstanding piece this week, on Forbes:

http://www.forbes.com/sites/perianneboring/2014/04/02/bitcoin-could-strengthen-the-world-economy-if-washington-doesnt-destroy-it/

-B-

Thats the article to look in.

   Yeah, I think its a good idea... I have been impressed about some of the comments on articles critical of bitcoin that really effectively destroyed their weak arguments. It might well be a good idea to get on the sites and start throwing out some comments to show bitcoin/bitcoin community resilience.

I agree the best thing for BTC is to spend.

Unfortunately, most will hold if the price is less than they originally paid.