2013-03-27 - CNBC Homepage - Bitcoin Bonanza: Cyprus Crisis Boosts Digital $$

[sunnankar]

Form CNBC's homepage is Bitcoin Bonanza: Cyprus Crisis Boosts Digital $$.

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[rebuilder]

"They won't make a sound no matter how many of them you try to toss in a bucket, and you can't pitch them in a fountain and wish for good luck."

You'd think journalists would at least try to disguise their contempt for their readers.

[justusranvier]

You'd think journalists would at least try to disguise their contempt for their readers.

The contempt serves an important purpose by driving away those readers who have even the slightest self respect or ability to think for themselves. Remember that in modern journalism the readers are the product that is sold to the advertisers. By weeding out the outliers from their readership, CNBC increases the value of what they are selling.

[annette786]

"Why would anyone trust an electronic form of money that could get hacked and then diluted into oblivion?" said Michael Pento, president of Pento Portfolio Strategies. "We already have a form of money that is indestructible and whose supply cannot be increased by any government or individual decree. It's called gold."

Love it. Once they understand that the value of bitcoin is based on its utility and scarcity, they will be start buying at $500+

[totaleclipseofthebank]

You'd think journalists would at least try to disguise their contempt for their readers.

The contempt serves an important purpose by driving away those readers who have even the slightest self respect or ability to think for themselves. Remember that in modern journalism the readers are the product that is sold to the advertisers. By weeding out the outliers from their readership, CNBC increases the value of what they are selling.

haha, this is an awesome point

[Spaceman_Spiff]

"They won't make a sound no matter how many of them you try to toss in a bucket, and you can't pitch them in a fountain and wish for good luck."

You'd think journalists would at least try to disguise their contempt for their readers.

I don't see any contempt in that remark.

[bitcool]

Look at the comment section, full of derogatory arrogant statements.

I wasn't surprised and they actually made me feel more comfortable with my btc position.

[mccorvic]

Look at the comment section, full of derogatory arrogant statements.

I wasn't surprised and they actually made me feel more comfortable with my btc position.

To be fair, any comments section of a major news site that isn't full of stupid.  Sometimes I play a game where I take a shot whenever the first comment posted on ANY news article blames Obama/democrats/the gays.  I usually make it about 15mins before passing out.

[deathcode]

Awesome comments - A tale of ignorance and poor journalism

"Why would anyone trust an electronic form of money that could get hacked and then diluted into oblivion?" Michael Pento, president of Pento Portfolio Strategies

BrianBallsOfSteel | Mar 27, 2013 02:22 PM ET
"bullsh1t...it fluctuates mirroring currency...which are indeed manipulated by governments and the FED...what pipe are you smoking..."

InfinityAndBeyond | Mar 27, 2013 02:25 PM ET
"Anybody who thinks Bit-Coin is going to protect them from government seizure is an idiot. Instead of taking it directly out of your account they will simply seize the bitcoin account and take it out of that. Bottom line no fiat currency is 100% safe."


We should create a post of stupid comments collected across the web if there isn't one already!

[the joint]

Casascius, congratulations.

[niner]

From a reddit post today ....

BBC News misquotes Bitcoin value 70 USD instead of 89

"Just now on BBC News presenter Rico Hizon did a brief story on bitcoin. This was on BBC's business news or asian business news. It comes just after the story on the Philippines being upgraded by Fitch from -bbb to +bb. Anyone else see this? I could not find the video on the BBC website."

I don't think he was quoting the euro price which has a current 24-hour high of 69.50 

reddit post: http://www.reddit.com/r/Bitcoin/comments/1b5l9l/bbc_news_misquotes_bitcoin_value_70_usd_instead/

[bitcool]

A few more "nice" comments worth quoting...

giofls | Mar 27, 2013 01:29 PM ET
Fools and their money are soon parted...

Gravlore | Mar 27, 2013 07:40 PM ET
I will never submit to a total digital currency. Screw that!

P.T.Barnum | Mar 27, 2013 09:42 PM ET
Bit Coin is a phukking ponzi scheme and nothing more. ANYBODY that would get sucked in deserves to lose every dime they put into it. The whole concept was invented by an ANONYMOUS individual or group. There are about $300 Million involved in the entire system and most (75%) of that is in the hands of an ANONYMOUS individual or group. There is an exchange where you can buy sell or trade bit coins. Who owns the exchange? An ANONYMOUS individual or group of course.

The person or group behind the scam are most likely Japanese con-men. I can guarantee you with 100% accuracy that this scam is going to be exposed at some point and a whole bunch of people are going to to get burned. Like I always say....."There's a sucker born......................."

[nevafuse]

drudgereport.com also linked this story.