[2013-12-09] Bloomberg -Twelve Days of Bitcoin: How Hard Is it to Buy One?

[NewLiberty]

Betty Liu is mostly distrustful of Bitcoin and generally talks it down, but some of those on her show are much more positive and curious.  As a result there was short discussion of Bitcoin:
http://www.bloomberg.com/video/12-days-of-bitcoin-struggling-to-buy-one-6gju__9xTpi5qyI_~aQy9A.html

Matt Miller is going to buy a bitcoin via localbitcoins.com and do the transaction on TV as part of the show, and then do something with it every day for 12 days.  He tried Coinbase and was daunted.  None of the people on the show have much understanding of bitcoin and there is quite a bit of misinformation, but this is one of the most widely viewed financial news in the USA.
http://www.bloomberg.com/personalities/matt_miller/

If you are in New York and looking for some exposure, you can probably sell something to Matt Miller over the next few weeks.

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[LiteCoinGuy]

its hard to hear that idiots talk about BTC but at least it wasnt so negative than in the begin of 2013 AND yes, bloomberg has alot viewers.

so its a good one

[NewLiberty]

Yes, considering the audience, it is great, especially for the novice who is their average viewer.  It makes them feel non-stupid to see these financial "genius" struggle a little bit with getting their shiny new blockchain.info wallet to work for the first time and buy their first bitcoin, but succeeding in the end.

Having the novice feel non-stupid is one of the barriers to entry for mass adoption.

[NewLiberty]

Matt Miller's public key at blockchain.info  1BbAisaqKdkKddwu53a7GfJCmh2f7V2yDX

Sending a tip of a gallon of gas worth of bitcoin to him:
https://blockchain.info/tx/b6c12392076fc8b929b63e8ecb810d104dfaa6dbfecabbf2fd1d3d1e81717e25

[notthematrix]

The older people miss a basic conseptual inside , my 13 year old brother and my7 17 year old sister do have.
My parents miss it too , and this is exactly why it will take them over.

[seriouscoin]

The older people miss a basic conseptual inside , my 13 year old brother and my7 17 year old sister do have.
My parents miss it too , and this is exactly why it will take them over.

why do ppl have to think "oh i missed ... it "

Cant they stop looking at bitcoin as an investment?

Its a technology  and it WILL move forward. They just use it for what it is.

[Missionary]

https://blockchain.info/sv/address/1BbAisaqKdkKddwu53a7GfJCmh2f7V2yDX

That's his adress, just as you said. Just scanned the code on the show.

[viajero]

And here he actually buys a bitcoin on air with cash:

http://mobile.bloomberg.com/video/12-days-of-bitcoin-the-process-of-the-purchase-EcMlcCIbStmU9u9SAQK3vQ.html

this link didn't work for me. that's how i found it: https://www.google.de/search?client=opera&q=Bloomberg%E2%80%99s+Matt+Miller+takes+you+through+the+process+as+he+fulfills+his+quest+to+purchase+a+Bitcoin+with+Bloomberg+News%E2%80%99+Max+Raskin+on+Bloomberg+Television%E2%80%99s&sourceid=opera&ie=utf-8&oe=utf-8&channel=suggest

[NewLiberty]

The older people miss a basic conseptual inside , my 13 year old brother and my7 17 year old sister do have.
My parents miss it too , and this is exactly why it will take them over.

why do ppl have to think "oh i missed ... it "

Cant they stop looking at bitcoin as an investment?

Its a technology  and it WILL move forward. They just use it for what it is.

Probably the most important thing that is under-emphasized:  BITCOIN IS IN BETA (no one has "missed it") It is not even complete to version 1 and most software efforts aren't complete until version 3 or so.  These are the early days, and there are many more early days to come.

When expectations are reasonable, we have the best chance of success.

[altsay]

Great experiment, i'm sure it will bring much more public awareness.

[seriouscoin]

The older people miss a basic conseptual inside , my 13 year old brother and my7 17 year old sister do have.
My parents miss it too , and this is exactly why it will take them over.

why do ppl have to think "oh i missed ... it "

Cant they stop looking at bitcoin as an investment?

Its a technology  and it WILL move forward. They just use it for what it is.

Probably the most important thing that is under-emphasized:  BITCOIN IS IN BETA (no one has "missed it") It is not even complete to version 1 and most software efforts aren't complete until version 3 or so.  These are the early days, and there are many more early days to come.

When expectations are reasonable, we have the best chance of success.

Thats a wrong way of thinking tho.... Bitcoin wallet client (even the official one) has nothing to do with bitcoin technology.

You cant say because the wallet client is still not version 1  that means the blockchain/bitcoin infrastructure is still in beta. Its pretty obvious now that the infrastructure is WAY pass the beta. And we're pushing to mainstream pretty soon.

Bottom line, bitcoin isnt an investment. Its the utility that ppl miss. All this "missing the boat" crap shows they dont understand what bitcoin is. They dont see how to utilize it.

[westkybitcoins]

I just wonder how often he'll be reporting on his experiences.

[TraderTimm]

It's like the telelphone network. Nobody rushes around trying to buy all the telephones they can, to "strike it rich". You just need one or two. The network is the power of the entire communications platform. Same with bitcoin, people rush around trying to buy them all, but the main point is to just have some - the network effects will take care of the rest.

But as usual, most older people have trouble understanding how DVR's and Computers work, much less abstract crypto-currencies.

[NewLiberty]

The older people miss a basic conseptual inside , my 13 year old brother and my7 17 year old sister do have.
My parents miss it too , and this is exactly why it will take them over.

why do ppl have to think "oh i missed ... it "

Cant they stop looking at bitcoin as an investment?

Its a technology  and it WILL move forward. They just use it for what it is.

Probably the most important thing that is under-emphasized:  BITCOIN IS IN BETA (no one has "missed it") It is not even complete to version 1 and most software efforts aren't complete until version 3 or so.  These are the early days, and there are many more early days to come.

When expectations are reasonable, we have the best chance of success.

Thats a wrong way of thinking tho.... Bitcoin wallet client (even the official one) has nothing to do with bitcoin technology.

You cant say because the wallet client is still not version 1  that means the blockchain/bitcoin infrastructure is still in beta. Its pretty obvious now that the infrastructure is WAY pass the beta. And we're pushing to mainstream pretty soon.

Bottom line, bitcoin isn't an investment. Its the utility that ppl miss. All this "missing the boat" crap shows they don't understand what bitcoin is. They don't see how to utilize it.

Yes the network is pretty good, but on pretty much everything else we disagree radically.  People ought to think of bitcoin as very much beta.  It does not do what the average people think money ought to do and takes a while for people to figure that out. 

To say that Bitcoin wallet client has nothing to do with bitcoin technology is not something your average person is going to agree with either.  It is all that they will ever see.

And no, we are going mainstream soon, unless we have radically divergent ideas of "mainstream" and "soon".

Just because it is the best money that has ever existed doesn't mean that everyone can deal with it.  Not yet anyway.
You almost make my point for me with your last sentence here though "Bottom line, bitcoin isn't an investment. Its the utility that ppl miss. All this "missing the boat" crap shows they don't understand what bitcoin is. They don't see how to utilize it."

It has tremendous potential utility, and very little actual utility, unless you do most of your purchases on the internet, or want to buy gift/debit/prepaid cards and use those at the places that take them.

The Struggles that Matt at Bloomberg is having are all too common.  He is in the "above average" group and well within the target user base.  Furthermore all those criticisms of bitcoin are accurate, and ignoring that fact is what keeps folks from making the things that will ultimately bring the mainstream adoption.  We are not even close.  I can't even find a plumber in my major metropolis that takes it.

None of these keeps me from talking about it to everyone I meet, and the confused looks I get from 99% of people is fine with me.  I am happy to be the guy that planted the seed in their mind, and wait for it to grow in those minds that are fertile.

[NewLiberty]

I just wonder how often he'll be reporting on his experiences.

Its been hitting the airwaves in bits and pieces about once an hour or two since this started.

[NewLiberty]

heh, his wallet is growing faster than he can spend it.
Up to 1.3btc as of now.
https://blockchain.info/address/1BbAisaqKdkKddwu53a7GfJCmh2f7V2yDX

[LiteCoinGuy]

@ NewLiberty


would agree to your statement about beta.

and yes, he get alot of BTC  ! hopefully he understands that these btc are donations 

[kiko]

He does, he mentions receiving tips here:

http://www.bloomberg.com/video/12-days-of-bitcoin-getting-your-hands-on-a-bitcoin-7NlUm0STQhy1uKYPK~x0PA.html

Great video.  I like this media angle. No mention of the price.

"It's a movement"..."There's a community"..."It's fun"..."I'm into it"

That's priceless PR.

Oh and related self-plug for my 12 days of Christmas lyrics from last year: https://bitcointalk.org/index.php?topic=133148

Someone on twitter send Matt the link; it would be hilarious if they sang it (or an improvement) on air. (Side note: how did I not think to call it 12 days of bitcoin!?)

[seriouscoin]

With tps of 7 and 10 minute transaction pause, it's still beta.


There are ways to eliminate the tps limit and 10 minute block pause, it's up to developers to think this through.

Bitcoin protocol is in version 0.2 now, as I see it.

Silly, transaction takes seconds to broadcast.

Confirmation =/= transaction time.

Noob

[seriouscoin]

Btw, i would love to send Matt an escort for a night. Is there any escort service in US accepting btc yet? If not, its SO needed. No more hiding CC bills from your spouse.... if you know what i mean