Bitcoin Forum
December 15, 2017, 02:52:52 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [2013-11-27] BBC - Bitcoin virtual currency breaks $1,000 mark  (Read 1487 times)
Mowcore
Hero Member
*****
Offline Offline

Activity: 592



View Profile
November 27, 2013, 03:19:54 PM
 #1

http://www.bbc.co.uk/news/technology-25120731

Ok, now the world is watching for the massive pop they expect to see.....

Humble Weekly Bundle.Pay What You Want. Redeem on Steam. Support charity. Pay with BTCitcoin now!--> Paypal Sad
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513306372
Hero Member
*
Offline Offline

Posts: 1513306372

View Profile Personal Message (Offline)

Ignore
1513306372
Reply with quote  #2

1513306372
Report to moderator
1513306372
Hero Member
*
Offline Offline

Posts: 1513306372

View Profile Personal Message (Offline)

Ignore
1513306372
Reply with quote  #2

1513306372
Report to moderator
Sam-Os
Member
**
Offline Offline

Activity: 72


View Profile
November 27, 2013, 03:25:19 PM
 #2

Will it pop? Or is this for real...
Mowcore
Hero Member
*****
Offline Offline

Activity: 592



View Profile
November 27, 2013, 03:32:23 PM
 #3

I'm keeping my bitcoins.

Humble Weekly Bundle.Pay What You Want. Redeem on Steam. Support charity. Pay with BTCitcoin now!--> Paypal Sad
P_Shep
Legendary
*
Offline Offline

Activity: 1134


View Profile WWW
November 27, 2013, 03:38:36 PM
 #4

Don't like this bit: "Bitcoin's value has been rising rapidly since a US Senate committee hearing earlier this month."

It's been rising WELL before that!
LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148


In Satoshi I Trust


View Profile WWW
November 27, 2013, 07:10:46 PM
 #5

could "crash" to "only" 400 - 500 dollars...thats the normal way bitcoin goes  Wink

Carlton Banks
Legendary
*
Offline Offline

Activity: 1848



View Profile
November 27, 2013, 07:17:28 PM
 #6

This is an interesting story from the BBC...

If you look all over their news site, you'll find it on the front page, the Business section and the Technology section. So they're acknowledging the significance of this, even if it's only a main "picture" story in the Tech section.

Also, relentlessly factual on the whole. No other information except that relating to the price. Could this be a new era of non-discriminatory Bitcoin coverage from the established news media? Possibly, lets see how the coverage looks as things develop further (starting to sound like the media myself, lol).

Vires in numeris
freedomno1
Legendary
*
Offline Offline

Activity: 1372


Activity: 9001 == OP


View Profile WWW
November 27, 2013, 07:19:29 PM
 #7

Well guess Its time to go to will you sell at 1000 dollar thread and say a bit lol
solex
Legendary
*
Offline Offline

Activity: 1078


100 satoshis -> ISO code


View Profile
November 27, 2013, 07:25:37 PM
 #8

That article is about as negative as it is possible to be while reporting good news. I bet they were gushing all over Google when its share price topped $1,000.

They are incapable of trying to understand Bitcoin properly, because it is so revolutionary.

freedomno1
Legendary
*
Offline Offline

Activity: 1372


Activity: 9001 == OP


View Profile WWW
November 27, 2013, 07:27:37 PM
 #9

That article is about as negative as it is possible to be while reporting good news. I bet they were gushing all over Google when its share price topped $1,000.

They are incapable of trying to understand Bitcoin properly, because it is so revolutionary.

Well to be technical I heard quite a few times that the Chinese Yuan had the bitcoin value hit 1000 already a while back so they already fact checked one wrong Smiley

Note first line of  BBC article
The value of a single bitcoin has surpassed $1,000 (£613) for the first time, according to MTGox, one of the virtual currency's major exchanges.

(Mtgox is incorrect lol)

http://www.wired.com/business/2013/11/bitcoin-one-thousand/

XD
LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148


In Satoshi I Trust


View Profile WWW
November 27, 2013, 07:39:45 PM
 #10

1000 USD for a 0.8.5 version, pretty good i guess  Grin

exstasie
Hero Member
*****
Offline Offline

Activity: 658


View Profile
November 27, 2013, 08:33:58 PM
 #11

My coworker predicted $6k by then end of 2014 a few weeks ago...not looking so crazy after all.

Carlton Banks
Legendary
*
Offline Offline

Activity: 1848



View Profile
November 27, 2013, 08:38:26 PM
 #12

The article has been re-written in just a few hours.


The current version now includes Mike Hearn quotes:

"For Bitcoin to go from zero to $1,000 in just five years has been amazing to watch,"

"It's easy to forget that Bitcoin's true value is not in an arbitrary exchange rate, but in its ability to enable new applications and services which aren't possible with today's payment networks."

The latter of which makes it really easy for the uninformed to answer the question unimaginatively ("How is buying drugs and assassinations a useful innovation?")


They've also brushed up the subtley of the gentle disinformation in their "How Bitcoin works" side piece (which wasn't in the initial article). Highlights of which (for me) are:

"...it may be best to think of its units being virtual tokens rather than physical coins or notes"  

"To process Bitcoin transactions, a procedure called "mining" must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution."

The first quote is an obvious attempt to belittle the idea that you should take cryptocurrency seriously as money. The second is an attempt to add unnecessary detail to the mining description, to make it sound overly enigmatic (and therefore difficult to trust, how very ironic).


There's also talk of "panic sell-offs in April", emphasis on price "plummets" and "soaring", and of course there has been the requisite addition of the Silk Road and of paedophilia connections (which there has still been no evidence backing it, although that doesn't mean it's not true).



So, an objective piece reporting the price movements has been turned into another exercise in FUD subtlety, all in the space of a few hours. I think the editorial policy is either that they object to cryptocurrency, or that they want to give themselves the chance to buy in while it's still cheap. I suspect that everyone's beginning to realise that it cannot be stopped.

Vires in numeris
Mike Hearn
Legendary
*
Offline Offline

Activity: 1526


View Profile
November 28, 2013, 08:52:00 AM
 #13

I think a simpler explanation is that journalists love a human interest angle that can turn an otherwise dry story about finance and technology into something more exciting (ooooh criminals! oooh price swings!). And the mining part is just the usual thing you see when trying to compress a hugely complicated topic down into a couple of sentences. I've seen much worse attempts.

I also wrote a longer piece for them which should be going live today. It focuses on Bitcoin's innovation vs the lack of it from the banking sector.
solex
Legendary
*
Offline Offline

Activity: 1078


100 satoshis -> ISO code


View Profile
November 28, 2013, 08:56:43 AM
 #14

I think a simpler explanation is that journalists love a human interest angle that can turn an otherwise dry story about finance and technology into something more exciting (ooooh criminals! oooh price swings!). And the mining part is just the usual thing you see when trying to compress a hugely complicated topic down into a couple of sentences. I've seen much worse attempts.

I also wrote a longer piece for them which should be going live today. It focuses on Bitcoin's innovation vs the lack of it from the banking sector.

Saw the quote of yours about banks moving fiat by steamboat, or gold by camels in Mongolia.  Smiley  Exactly the message they need to illustrate that we have a 19th century banking system in a 21st century world.

Carlton Banks
Legendary
*
Offline Offline

Activity: 1848



View Profile
November 28, 2013, 03:15:12 PM
 #15

I think a simpler explanation is that journalists love a human interest angle that can turn an otherwise dry story about finance and technology into something more exciting (ooooh criminals! oooh price swings!). And the mining part is just the usual thing you see when trying to compress a hugely complicated topic down into a couple of sentences. I've seen much worse attempts.

More of a naive explanation there, Mike. Even without the users projecting their political opinions onto Bitcoin, the utility it allows upsets established politics as much as it does established professions and industries. Anyone who believes the BBC are completely unbiased politically need to look a little closer (and/or wider).

Don't get me wrong though, this type of article can't help but highlight the unassailable basic facts, so those more independent minded and imaginative people that do read it are quite likely to research the issue elsewhere anyway.

Vires in numeris
hieroglyph
Member
**
Offline Offline

Activity: 70



View Profile
December 03, 2013, 03:37:03 PM
 #16

Waiting for a bubble to pop... priceless.  I don't think there will be a pop anytime soon mainly because the "journalists" have been wrong time and time again and they continue to do so with no regrets which leads me to believe it is a safe bet against them.

freedomno1
Legendary
*
Offline Offline

Activity: 1372


Activity: 9001 == OP


View Profile WWW
December 05, 2013, 01:13:57 AM
 #17

Waiting for a bubble to pop... priceless.  I don't think there will be a pop anytime soon mainly because the "journalists" have been wrong time and time again and they continue to do so with no regrets which leads me to believe it is a safe bet against them.

You just need to change the channel and go to the RT instead  Wink
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!