Mainstream media starts to attack Bitcoin

[Lethn]

Open Source Romerun Open Source.

[Explodicle]

Open Source Romerun Open Source.

I think the core concept of 100% transparency prevents cryptocurrencies from scaling to VISA-like volumes. Everyone can't hold a full record of everyone else's transactions worldwide, the block size would get too large to download a chain in real-time, let alone catch up.

But I don't really see that as a huge problem, since VISA doesn't print money. IMHO Bitcoin should be replacing the federal reserve banks, not VISA. Long ago, gold was traded much like bitcoin is today, but eventually the transaction costs made bank notes more practical. I think history will repeat itself, and we'll trust Ripple or Open Transactions networks for everyday business. Those organizations will be the ones paying high bitcoin transaction fees, but to move massive amounts of money belonging to multiple customers at once. With OT, this has the added benefit of truly anonymous digital cash without needing a mixing service.

What will be different this time is that we'll have a publicly-auditable monetary base that you can download on your phone, to be SURE that your old bank sent REAL uninflatable money to your new one. It won't be physically vulnerable like gold is, and won't be subject to seizure and eventual domination like gold was.

[Evolvex]

You should have seen what they were saying last year. Even though they get it wrong often, the press bitcoin is receiving now is the most positive it has ever been. I think they just want the most titillating story. It is hard to beat "secret hacker drug money".

Would have to agree with this guy.  Instead of seeing dozens of negative articles and one or two positive articles like we did the past two years, we're seeing dozens of positive articles and one or two negative articles.  It's a very big change in attitude compared to the past.  I would say a more accurate thread title might be "Mainstream media mostly done with attacking Bitcoin".

+1

+1 again - I would agree, all the shocking news about SR seems to of died down, and seen as we haven't had a big hack in a while (touching wood) they've ran out of bad stuff to say, all the greatly positive press its had these last 6 months or so appears to be the media coming round to a more balanced reporting style on Bitcoin..... but yeah I saw that article myself, there's always gonna be some bashing, they will flame it anytime they can!.

I so hope the blockchain fork makes the news, I doubt it will, but it will be nice if they basically say "look how quickly a new currency/economy can be fixed compared to our old dying dinosaur"

[ErisDiscordia]

" And we've just seen, culturally, people don't like deflation."

LOL now this guy is either totally brainwashed by the political propaganda of the day, or he's deliberately spreading misinformation. Since when do people like to see the purchasing power of their savings dwindle as they are forced into riskier and riskier "investments" in order to try to at least keep their purchasing power from declining. Ridiculous.

[darkmule]

I don't think we have to worry much about bad press from people who don't understand Bitcoin in the least.

It is when we start getting attacks from those who do understand what it is and what it represents, because it represents a threat to their interests, that we have to worry.

[ms205]

The dogs bark, but the caravan goes on :-)