2013-08-16 - IW- Bitcoin Boom? US fears digital currency may hit dollar demand

[btceic]

http://investmentwatchblog.com/bitcoin-boom-us-fears-digital-currency-may-hit-dollar-demand/

The US is becoming increasingly concerned over virtual currencies, launching broad investigations into Bitcoin and the likes. The online currency has won official recognition with a US federal judge ruling it is real money. A Texas man, being tried for laundering billions of dollars using the Bitcoin system, challenged the court by saying bitcoins were virtual and couldn’t be the basis for a fraud charge. He failed. RT’s Peter Oliver went to meet those who have no doubt bitcoin has real value.

http://m.youtube.com/watch?feature=player_embedded&v=INczWHXYSCs&desktop_uri=%2Fwatch%3Fv%3DINczWHXYSCs%26feature%3Dplayer_embedded

[odolvlobo]

... A Texas man, being tried for laundering billions of dollars using the Bitcoin system ...

Fail.

[kjlimo]

All in all a positive message.

[Bitcopia]

... A Texas man, being tried for laundering billions of dollars using the Bitcoin system ...

Fail.

Seriously. Why is the media having such a hard time getting their facts straight regarding bitcoin? Is it laziness, ignorance, intentional FUD, the fact that it is just too complex to understand in its entirety, or a nice blend of all four?

EDIT: This is actually a pretty good video, it looks like she just goofed that one. 

[enquirer]

Because those who write in the media paid tons of money for liberal arts "education"

[monkeybars]

Bitcoin is very, very difficult to understand for laypeople. It took me hours of study before I understood the basic protocol and system characteristics, and barebones infrastructure (wallets, exchanges, escrow).

Luckily, that's only important for us early adopters, bc it's extremely easy to use. Once it reaches the tipping point that barrier to understanding the inner workings will be as important as the inner workings of the Federal Reserve to Johnny Consumer, ie, not at all.