[FORTUNE] The clock is ticking on Bitcoin

[hugolp]

I agree...to quote a line from the movie "Strange Days", "...it's not whether you are paranoid...it's whether you are paranoid enough.."

Great, add more paranoia to the fanatic rants. That's exactly what Bitcoin needs to be taken seriously.

You being paranoid does not mean they are not after you.

[killer2021]

out of context?
he is quite right that the US govt will go after it.

if you think the last two weeks was volatility, look what's ahead.

The US government might go after it but will take years. The only reason they want to go after it is because of silk road. If silk road goes away I think bitcoin will stay off the radar for quite some time.

Also even if the us government goes after bitcoin, theres still 200+ countries out there who could care less about bitcoin.

[Swishercutter]

out of context?
he is quite right that the US govt will go after it.

if you think the last two weeks was volatility, look what's ahead.

The US government might go after it but will take years. The only reason they want to go after it is because of silk road. If silk road goes away I think bitcoin will stay off the radar for quite some time.

Also even if the us government goes after bitcoin, theres still 200+ countries out there who could care less about bitcoin.

Kinda my thoughts too...just look how long it took for them to get around to the poker stars sites...and that was stated as illegal the entire time under US law (right? this was my understanding) I am not a lawyer but I cannot see how Bitcoin is breaking any laws...not like the liberty dollar which claimed to be a dollar, had trust in god and made implications that it was backed by the US govt.

[Nescio]

Popcorn eaters can choke on those salty seeds!!

OMG OMG OMG THAT IS SO 10000% INACCURATE!!! Corn seeds are not salty!!

I imagined Bruce running around with his hair on fire while typing

Moderation is necessary, you can't contradict media hype and inaccuracy with your own, they'll see right through it anyway. You can't bullshit a bullshitter.

Playing on people's greed with the price angle is a terrible way to promote Bitcoin because you are pulling in the wrong people before the market is ready. Even if you are only interested in driving the price up to whatever level you have set for yourself, the market is simply not liquid enough yet for the sharks and amateurs who will walk away quickly giving it a bad name. We need users without profit motives and businesses who can rely on them, without the daily dose of fear regarding the worth of their business.

[flug]

"A Lie can travel around the world before the Truth can get its shoe laces tied" - Mark Twain.

This will take patience.

[Bruce Wagner]

I think the most unfounded and agenda driven part of that article is actually the title and the conclusion.

(First impressions & last impressions are strongest. The stuff in the middle that was actually discussed, people won't remember.)

"The clock is ticking on Bitcoin
With recent exposure bringing the online currency to the attention of wary lawmakers, expect to see Bitcoins disappear."

ending with..

"..expect Uncle Sam to keep the average American consumer from ever getting to make that choice."

None of this is substantiated or discussed properly. It's just assumed. Agenda driven!

This is how they do it. They just state things. And people suck it up in their millions.

This is ABSOLUTELY TRUE.

This reporter told me --- BEFORE THE INTERVIEW --- that, yes, he'd be interested in any factual corrections to the article ... but suggested that most criticism will be coming from people due to his take/angle.   

In other words....

When he was assigned this story, there were two Givens:

(1)    The Topic

(2)    The Conclusion (i. e. They call it his "Take/Angle")

And this is before any research...

When he still didn't know a Bitcoin from a toaster oven.

The Boys who Own the Media...... own the media.

[wumpus]

The spin machine is working over time.

On the other hand, when bitcoin manages to weather this recent storm it will come out stronger, as a lot of the "ignore it so it will go away" people will have been proven wrong.

[Bruce Wagner]

bruce?

you are kind of a fanatic - and that's ok.

but let me give you a tip - because you're becoming a very high-profile, go-to guy as far as the media is concerned.

get contracts for interviews.  real contracts, with... like... lawyers.  and don't give any more interviews without final cut: that is, it doesn't print or air without your ok.  the slant of a piece on Bitcoin is irrelevant; but you need to keep a firm hold on context, exact quotes, and facts.

Interesting Advice.   Who to contact about this?  What type of attorney?  Referrals?

Also, please note that the email in the original post here was written in anger and in haste.  I apologize for the caps and the omg's....  

It was also written AFTER the article was published.

It was not the "input", as someone suggested.  

It was my response after reading the finished article already published.

This article was obviously a smear campaign to make Bitcoin look bad.

[bittersweet]

(3)   "....and many of its uses have nothing to do with Silk Road."  //   BLATANTLY MISLEADING.   0.0000000001% of its use has anything to do with Silk Road.   NO ONE I KNOW has ever used Silk Road.  It's blatantly misleading to imply that ANYONE uses Bitcoin for such things.   It's absolutely irresponsible reporting.

No, you are misleading. You try to pretend that grey and black markets aren't important part of Bitcoin economy. They are.
Even speculators holding Bitcoins don't like when Silk Road goes down.

1. It is Silk Road that brought so much mainstream media attention last month. Not selling images and jokes on the forum.
2. Show me an online market with real goods sold exclusively for Bitcoins with more transactions than on Silk Road. Well, you don't know how much has been sold on Silk Road because you never visited it. So you talk crap.

Also, your website is marketing hype and crap misleading people too, with stuff like "Bitcoin's Meteoric Rise in Value: 583,900% per Year" (SPECULATIVE HYPE TO MAKE PEOPLE BUY ALREADY OVERPRICED CURRENCY), "It's as free as email.  Bitcoin transactions are free." (BLANTANT LIE), "It's more secure than online banking" (LOL), "It's as anonymous as you want it to be." (THEN CLOSE YOUR EYES AND REPEAT: I WANT IT TO BE ANONYMOUS!!!) and tiny fine prints at the end of your website.

[terryfkwit]

of course he is correct ... get your money out quick ... i need a hot buyin opportunity.... all publicity is good publicity...

when profiting from my trade tips please make a tiny donation...
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[Bruce Wagner]

Bruce - re-reading my post, it looks like this was a personal attack on you, and I guess it somewhat was.  This was not my intent and I do apologize.  I actually enjoy reading your stuff and think you bring a ton (way more than I have, or am likely to!) of value to the community.

I just hate to see Bitcoin develop a PR problem because we as as a community can't do something as simple as having reasonable, respectful, and *truthful* conversations with detractors.   Trying to tell people not a single person has used a bitcoin for Silk Road purchases for example I believe is counter-productive to the cause - it's a completely made-up fact that is demonstrably false.

Otherwise, let the revolution continue!  It takes all types, and the community diversity is what will make this idea take hold and become strong!

-Phil

I said:   Not a single person I KNOW has used Silk Road.

[flug]

This article was obviously a smear campaign to make Bitcoin look bad.

That seems a bit harsh to me, but it might be true. I think most news organizations will naturally develop an editorial narrative on issues, and journalists in this 24/7 newsloop culture with pressures to get stories quickly done will lazily follow this narrative. This is hardly a golden age of investigative journalism, after all.

It might be informative if people who are interviewed ask the journalist outright what's their 'take' on Bitcoin before the interview starts.

[S3052]

bruce?

you are kind of a fanatic - and that's ok.

but let me give you a tip - because you're becoming a very high-profile, go-to guy as far as the media is concerned.

get contracts for interviews.  real contracts, with... like... lawyers.  and don't give any more interviews without final cut: that is, it doesn't print or air without your ok.  the slant of a piece on Bitcoin is irrelevant; but you need to keep a firm hold on context, exact quotes, and facts.

This is what I also do and it is the only way how it works

[Rob Lister]

Bruce - re-reading my post, it looks like this was a personal attack on you, and I guess it somewhat was.  This was not my intent and I do apologize.  I actually enjoy reading your stuff and think you bring a ton (way more than I have, or am likely to!) of value to the community.

I just hate to see Bitcoin develop a PR problem because we as as a community can't do something as simple as having reasonable, respectful, and *truthful* conversations with detractors.   Trying to tell people not a single person has used a bitcoin for Silk Road purchases for example I believe is counter-productive to the cause - it's a completely made-up fact that is demonstrably false.

Otherwise, let the revolution continue!  It takes all types, and the community diversity is what will make this idea take hold and become strong!

-Phil

I said:   Not a single person I KNOW has used Silk Road.

Bruce, you don't KNOW that either.  The best you can say is, 'Not a single person I KNOW told me they were using Silk Road.'

I heard about Bitcoin through the Sacramento Bee article about Silk Road. 

Anyway, no press is bad press when it comes to Bitcoins.

[Bruce Wagner]

Yes.  Obviously.  I can't know who uses it without telling me...

But for the sake of brevity, the way I phrased it was:  No one I know has used Silk Road.

And I think the point is clear.

The fact that people use it, is irrelevant to the fact that no one I know has ever told me they've used Silk Road.

It's important to let people know that:

(1)    I have had contact with many many many Bitcoin users.

And

(2)   Not one of them has ever told me that they've bought anything on Silk Road.

Exactly one person has told me that he has been able to get the site to load.   But that he's not planning on using the site --- only taking a look at it.  He also told me that it was an unbelievable task to get through all the layers of security --- just to be able to read the web page.

[finnthecelt]

Yes.  Obviously.  I can't know who uses it without telling me...

But for the sake of brevity, the way I phrased it was:  No one I know has used Silk Road.

And I think the point is clear.

The fact that people use it, is irrelevant to the fact that no one I know has ever told me they've used Silk Road.

It's important to let people know that:

(1)    I have had contact with many many many Bitcoin users.

And

(2)   Not one of them has ever told me that they've bought anything on Silk Road.

Exactly one person has told me that he has been able to get the site to load.   But that he's not planning on using the site --- only taking a look at it.  He also told me that it was an unbelievable task to get through all the layers of security --- just to be able to read the web page.

Bruce, keep fighting the good fight. You're on the front line so you're going to take some heat. Many on this board want BTC to succeed but really can let their emotion overtake them (as you did ) and become accusatory before trying diplomacy. It's easier to attack and push and shove than to have an adult conversation.

That being said just take the advice (which I feel you are doing), refine your position and keep moving forward. Many on this board are very young and lack people and communication skills so they just want to fry you because it's easy. Well it's also a cheap shot. Others make really good points so just take it all with a little more than a grain of salt.

Thanks for your efforts.

[hugolp]

Playing on people's greed with the price angle is a terrible way to promote Bitcoin because you are pulling in the wrong people before the market is ready. Even if you are only interested in driving the price up to whatever level you have set for yourself, the market is simply not liquid enough yet for the sharks and amateurs who will walk away quickly giving it a bad name. We need users without profit motives and businesses who can rely on them, without the daily dose of fear regarding the worth of their business.

Well said.

[thebitcoinchannel]

Bottom line, they are scared.  

"First they ignore you, then they ridicule you, then they fight you, then you win."
  --  Mahatma Gandhi

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[Terpie]

Yes.  Obviously.  I can't know who uses it without telling me...

But for the sake of brevity, the way I phrased it was:  No one I know has used Silk Road.

And I think the point is clear.

The fact that people use it, is irrelevant to the fact that no one I know has ever told me they've used Silk Road.

It's important to let people know that:

(1)    I have had contact with many many many Bitcoin users.

And

(2)   Not one of them has ever told me that they've bought anything on Silk Road.

Exactly one person has told me that he has been able to get the site to load.   But that he's not planning on using the site --- only taking a look at it.  He also told me that it was an unbelievable task to get through all the layers of security --- just to be able to read the web page.

It's still an irrelevant anecdote that reveals your agenda. The fact of the matter is that people do use bitcoin to buy drugs on Silk Road, and we have no idea exactly how much is being trafficked. It's an intellectually poor statement to make. You would do better to step down the emotional defense you seem to harbor on bitcoin. There are 1000 better ways to counter the SR assertions, #1 being to acknowledge that it occurs and that it is insanely risky because these users can potentially be traced. Also, there are orders of magnitude greaters drug transactions every day using USD, so the problem is not inherent to bitcoin.

[lemonginger]

Exactly one person has told me that he has been able to get the site to load.   But that he's not planning on using the site --- only taking a look at it.  He also told me that it was an unbelievable task to get through all the layers of security --- just to be able to read the web page.

This is inaccurate. You use Tor. You enter the address. You enter your login and password. It's not some double hopscotch know the secret code game. As for me I would rather have people actually using bitcoin to buy regulated substances than using it to speculate with. Half this forum wants bitcoin to be a get rich quick scheme rather than a viable means of exchange.