Is Bitcoin the financial saviour of a free press?

[tom.hashemi]

I wrote something for my company's blog (Edelman, world's largest PR firm) on bitcoin and how micropayments could revolutionize the way we pay for the media we consume.

Check it out: http://edelmaneditions.com/2013/12/is-bitcoin-the-financial-saviour-of-a-free-press/

[arkintunde]

Wonderful article and a novel idea. Ideas like this one are what make me very excited about the future of Bitcoin (with a capital 'B' )

[taltamir]

The mass media press is losing money because it is losing trust. More and more people realize how bad they are at doing their jobs.

They mishandle every story, take the wrong stance on every issue, and can't seem to get into their heads the idea of unbiased reporting of facts. The article even admits they have been unfairly bashing bitcoin

They also seem to be married to obsolete distribution models. Blogs are not necessarily less trustworthy than a printed piece of paper.

As for ad revenue, claiming that its worse for online ads then it was for newspaper ads is ridiculous. Its never been higher as google can attest.

[luqash3]

Wow Tom Hashemi you wrote a great article for your company blog. Well the best thing about your article was the advantage you mentioned that no middle man is required in Bitcoin. So finally Bitcoin has enabled us to get rid of those banks that took big commissions just to give a piety service while we poor people had no other alternative then to pay them. But now thankfully time has changed with introduction of Bitcoin.

[VinceSamios]

We have people everywhere, mwuahahahaha

[tom.hashemi]

Wonderful article and a novel idea. Ideas like this one are what make me very excited about the future of Bitcoin (with a capital 'B' )

Thanks - me too!

[tom.hashemi]

The mass media press is losing money because it is losing trust. More and more people realize how bad they are at doing their jobs.

They mishandle every story, take the wrong stance on every issue, and can't seem to get into their heads the idea of unbiased reporting of facts. The article even admits they have been unfairly bashing bitcoin

They also seem to be married to obsolete distribution models. Blogs are not necessarily less trustworthy than a printed piece of paper.

As for ad revenue, claiming that its worse for online ads then it was for newspaper ads is ridiculous. Its never been higher as google can attest.

I agree - the media industry has been losing trust for a while now, especially here in the UK. Too many scandals to count, they need to improve their behaviour.

But I do think that there is a role for the media to play in the world today, I don't think blogs can do everything. For example, who can report reliably from a war zone? There are many other examples we could talk about to show that you do need some kind of professional media.

[tom.hashemi]

Wow Tom Hashemi you wrote a great article for your company blog. Well the best thing about your article was the advantage you mentioned that no middle man is required in Bitcoin. So finally Bitcoin has enabled us to get rid of those banks that took big commissions just to give a piety service while we poor people had no other alternative then to pay them. But now thankfully time has changed with introduction of Bitcoin.

Glad you liked it

[tom.hashemi]

We have people everywhere, mwuahahahaha

Vince, my friend, how much did you drink tonight eh? :p

[taltamir]

The mass media press is losing money because it is losing trust. More and more people realize how bad they are at doing their jobs.

They mishandle every story, take the wrong stance on every issue, and can't seem to get into their heads the idea of unbiased reporting of facts. The article even admits they have been unfairly bashing bitcoin

They also seem to be married to obsolete distribution models. Blogs are not necessarily less trustworthy than a printed piece of paper.

As for ad revenue, claiming that its worse for online ads then it was for newspaper ads is ridiculous. Its never been higher as google can attest.

I agree - the media industry has been losing trust for a while now, especially here in the UK. Too many scandals to count, they need to improve their behaviour.

But I do think that there is a role for the media to play in the world today, I don't think blogs can do everything. For example, who can report reliably from a war zone? There are many other examples we could talk about to show that you do need some kind of professional media.

The only reliable reports from a warzone I have ever seen were from bloggers.

Also, a blog =! one dude with no budget.

The huffigton post is not a reliable or trustworthy source, but it a massively funded operation.

I didn't say we don't need news, I said the established news outlets are untrustworthy. However you have the rising of new news media, project veritas for example is a good example. It started out as one guy doing real investigative reporting and it grows, and grows. Now he has a budget and entire teams of undercover agents doing actual honest investigative reporting. While your typical news megacorp trawls the internet for random blog posts and reprints them without verification as if they were fact.

[tom.hashemi]

The mass media press is losing money because it is losing trust. More and more people realize how bad they are at doing their jobs.

They mishandle every story, take the wrong stance on every issue, and can't seem to get into their heads the idea of unbiased reporting of facts. The article even admits they have been unfairly bashing bitcoin

They also seem to be married to obsolete distribution models. Blogs are not necessarily less trustworthy than a printed piece of paper.

As for ad revenue, claiming that its worse for online ads then it was for newspaper ads is ridiculous. Its never been higher as google can attest.

I agree - the media industry has been losing trust for a while now, especially here in the UK. Too many scandals to count, they need to improve their behaviour.

But I do think that there is a role for the media to play in the world today, I don't think blogs can do everything. For example, who can report reliably from a war zone? There are many other examples we could talk about to show that you do need some kind of professional media.

The only reliable reports from a warzone I have ever seen were from bloggers.

Also, a blog =! one dude with no budget.

The huffigton post is not a reliable or trustworthy source, but it a massively funded operation.

I didn't say we don't need news, I said the established news outlets are untrustworthy. However you have the rising of new news media, project veritas for example is a good example. It started out as one guy doing real investigative reporting and it grows, and grows. Now he has a budget and entire teams of undercover agents doing actual honest investigative reporting. While your typical news megacorp trawls the internet for random blog posts and reprints them without verification as if they were fact.

I'm not saying that all news organisations are trustworthy - there are a few that instantly spring to mind that I wouldn't go near.

But as you said, a blog = one dude with no budget. Do you trust everyone you see on the street? Do you implicitly trust what someone is saying despite the fact that you have no idea who they are or what they want you to think?

If you do then fair enough, but that's not for me when I want to know factual information about something.

[taltamir]

But as you said, a blog = one dude with no budget.

The symbol =! means "does not equal"
I said blog =! one dude with no budget

I even gave an example of a highly funded wealthy blog... which happens to be untrustworthy.

Further I gave a different example how one dude with a blog can become an entire operation (project veritas) when he actually does his job and provides trustworthy news

I want to know factual information about something.

So do, and so far the traditional media has been proven again and again to be the absolute worst source for it.
None of them are there to make money, they are all owned, either by a political party or a private entity, and they are all out there to put out a message.

They are merely highly funded propaganda machines.

[tom.hashemi]

But as you said, a blog = one dude with no budget.

The symbol =! means "does not equal"
I said blog =! one dude with no budget

I even gave an example of a highly funded wealthy blog... which happens to be untrustworthy.

Further I gave a different example how one dude with a blog can become an entire operation (project veritas) when he actually does his job and provides trustworthy news

I want to know factual information about something.

So do, and so far the traditional media has been proven again and again to be the absolute worst source for it.
None of them are there to make money, they are all owned, either by a political party or a private entity, and they are all out there to put out a message.

They are merely highly funded propaganda machines.

Apologies, I had not come across =! before.

The Huffington Post is a hybrid news source: it blends traditional media (i.e. newspaper-stye) with social (i.e. blogs). Why do you view the Huff Po as untrustworthy?

I've never heard of Project Veritas before so cannot comment on that. But yes, media organisations exist to make money (as every other business does, you're not saying something new there...) and no they are not all owned a political party or private entity. News Corp, for example, is a publicly-traded company and I cannot think of any media organisation that is "owned" by a political party (in the West that is). Very happy to be shown I'm wrong on that front (and Silvio Berlusconi doesn't count...).

And then the message.... I agree. But that is why you read from a multiplicity of sources so that you get the most rounded coverage possible.

[TippingPoint]

Maybe micropayments are the future of reporting.

But the future might also be an open collaboration and cross-checking of multiple independent sources.   One or more competing WikiNews portals.  Complete with cell phone pics and video, etc.

Decentralized.

Author credibility ratings and up/down votes.

Bitcoin tip jars.

[tom.hashemi]

Maybe micropayments are the future of reporting.

But the future might also be an open collaboration and cross-checking of multiple independent sources.   A WikiNews.  Complete with cell phone pics and video, etc.

Decentralized.

Author credibility ratings and up/down votes.

Bitcoin tip jars.

100% possible

Though I do think that there will always be a place for those that have full-time jobs in the press and I can't see that ever being paid for by tip jars. But who knows!

[TippingPoint]

Nice blog.

Every day we write the book.

[tom.hashemi]

Nice blog.

Every day we write the book.

Thanks

[LiteCoinGuy]

good article.

"While the subject of Bitcoin did not, to my knowledge, reveal itself at Edelman’s Crystal Ball event, it’s something worth keeping an eye on over 2014."

and thats the point that you understand and your workmates miss. most people dont realize revolutionary inventions like bitcoin or 3d printing  !

[tom.hashemi]

good article.

"While the subject of Bitcoin did not, to my knowledge, reveal itself at Edelman’s Crystal Ball event, it’s something worth keeping an eye on over 2014."

and thats the point that you understand and your workmates miss. most people dont realize revolutionary inventions like bitcoin or 3d printing  !

Thank you.

And indeed - but slowly but surely I'm sure they'll come round to the concept

Worth bearing in mind that some of us live, breath and sleep bitcoin, while the majority of people out there have never heard of it. And if they have, they have absolutely no idea what it is!

[BitDreams]

Envision autonomous news providers surviving on the merits of what they print and who reads it and not subject to the whims of any advertisers. Instead of advertisers paying newspapers, advertisers pay readers (if that reader elects to view any advertising at all) who then may pay authors (if the author wishes to charge). Maybe the autonomous company allows for the election of an editorial staff, elected by the registered (paying) readership so the keys to the automaton are placed in human hands for everything from upgrades to dissolution. So many possibilities and hopefully there will be a day when I can kickstart an autonomous corporation of my own with a single Bitcoin.