Over the past couple of weeks, Bitcoin has been receiving an increase in media attention. It has been mentioned regularly by FOX news, NBC, CNBC and in magazines such as Time Magazine and the New York Times.
This can be mainly attributed to the crypto-currency’s increase in price. Bitcoin price has sky-rocketed and extrapolation of its growth shows that it will continue to increase till the momentous 2040. Moreover, the increase media attention should only increase the already amazing price. This is because of the demand and supply paradox. Furthermore, I believe further online shops and even ‘physical’ shops would begin introducing Bitcoin, because of the spotlight that the media is shining on it. However, what could this media attention in terms of taxes and the governments? Will governments feel threatened by Bitcoin growth? Will they intervene? If Bitcoin becomes widely accepted, perhaps if it overtakes fiat, can the government find some way to enforce taxes?
I can see that media plays an important role in this industry as i can see on our local exchanger there were about 100k or so active member few years ago, now we've got more than 300k active members who regiestered out there this number has increased obviously because of spotlight of the bitcoin on the media. I'm just wondering is it good or distruction for us? since mostly they are speculators who just came to the bitcoin, hold untill they rich and dump the price. Anyway long time ago before bitcoin get famous our government had already taxed us for every single transaction that we made on that site.
Bitcoin is popular eversince it is released and all of them is because of the media. Media is one of the best ways to promote something, to make the people inform of your services. I think without media, some of us do not know what a bitcoin was, like me, I knew bitcoin the time I've watched it on TV. Let's just hope that these media will not destroy bitcoin as we know.
