Bitcoin Forum

Some of the mistakes that still crop up in bitcoin news reports are incredible.

What??? I just read about that sale at Lake Tahoe, but did they really make those mistakes? What is '2,739'??? The price in USD? like over 2k? Or is that a decimal comma??? This just doesn't add up. Of course 1.6 million BTC would be... a lot!

1.6 million BTC at a price of $2,739 would mean that the property sold for .... drumroll .... 4.3824 BILLION dollars  :D ;D 8)

Hahhaha, yeah... Well, maybe they did sell the whole Lake? :D On the Nevada side they've got some pretty big hotels and casinos, have you ever been there? But yeah, I think they just don't bother researching their story and churn out some arbitrary numbers...

Well that's to be expected. I take it it was 1.6 millions worth of bitcoins? Not the worst mistake I've seen to be honest.

In reality, the property sold for 2739 bitcoins which, at the current price of $590, comes to about $1.6 million.

I think the media still needs to get some things straight. But in this case I guess they just didn't care what they wrote. It's not that difficult to get the current price of Bitcoin and geting to know the actual price of the property in question.

They said it wrong.  It was actually a house on moon tahoe. Shits expensive yo

Its the media there allways getting things wrong hehe but they have to write things wrong sometimes to make a good story.

Sometimes I do wonder if the media writes these mistakes on purpose just to get some interest from their followers. This though really does make me wonder just how many people believed it whom are not as knowledgeable about bitcoin as we are.

For journalism, that was pretty accurate. After all, getting those articles out there, that's the most important thing. Only nerds care about content, and heck, give them some slack, the numbers could've been off much more!

If they correct the mistakes then no harm no foul.  People who make mistakes and don't have an agenda should have no problem changing the false figures.

I think a major problem in the press today is the pressure to make money. This means a lot of articles needs to be delivered to generate 'clicks', so there's no time to do proper research, as there's always the next newsbit that needs to hit the digital presses. So even if some journalists wanted to be better, they're often forced into this news-whoring by their media-firm.

And sometimes I wonder if some of the journalists simply are not the brightest bulbs in the drawer. It's also sad that a lot of journalists seems to be more interested in the 'story', than facts, ideas and visions.

Personally I do not have much respect for the average journalist anymore, to the extent that I would decline any and all requests for talking with them or being featured.

Well I certainly wouldn't mind selling my coins at that price right now.  :D
This shouldn't surprise you, they write nonsense and they write it often, specially related to Bitcoin.
Anyone can become a journalist these days I guess.

As everyone knows hindsight is 20 20

Journalists today will do and say whatever makes the headlines look better today.

It just shows that there was 0 research made before they posted their article.
Lets pretend for a second that the claimed price of bitcoins is the future price of btc, like in 2 months :)

i forgot where it was posted, but some site said bitcoin was a corporation and that each btc was like a common stock (or something like that) that is issued by the corporation. that was pretty hilarious.

That was pretty recent, I remember it from r/bitcoin the reddit thing

I talk to BBC editor weekly about errors in Bitcoin reporting. 3 times this year they've referred to The Bitcoin Foundation as ''overseers/controller/owner of Bitcoin''

Look at this one. It's in the "news" today.

Source: http://guardianlv.com
WTF?
So, how much bitcoin stock do you own?  :D

What does this tell us? That journalists continually speak about things they do not know. Just imagine how misinformed we are very often in subjects we know absolutely zero about, the only good thing about bitcoin mistakes in the media is that we can easily spot it and laugh.

Sounds more likely that is was just a typo - occam's razor right?

The greatest mistake the media makes is they just don't understand it. They'll come around eventually.

The general ignorance of the media is quite annoying especially when the public just believe it without questioning. The whole bitcoin is a ponzi or isn't backed by anything therefore it isn't worth anything is frustrating too.

Unfortunately, an information vacuum is easily filled with negativity. And, let's face it, there's not much being down to provide a "fair-and-balanced" view of bitcoin.

That's why I took it upon myself to make "Bitcoin: Buenos Aires" (http://tilt.tc/NQdj)…real people using this technology to solve real problems. Help us spread the word!

Join our bitcoin movie crowdfunding campaign! (http://tilt.tc/NQdj)