WHY does the media have so much control over Bitcoin price?

[keithers]

The media is responsible for the majority of pumps and dumps since the inception of cryptos

[countryfree]

There are two different subjects here.

One is about the power of media, which isn't only over BTC but also over elections and thousands of issues, and the second is about Apple versus BTC.
BTC has survived the silk road crash, and it will survive that sad affair with Apple. Back to the media, it's a sad fact that recent news, like the MtGox failure aren't positive news. I guess we just need more success-stories. It's a bit the ratings on politicians. Some months they're down, then they're up.

[banaltcoin]

because bitcoin is a Ponzi Scheme Bubble back by nothing but rumor / lie / fake hope

that's why media or rumor matter

[EndlessSummer]

All currencies rely on faith that others will respect the values of that currency. A 100$ bill is only worth 100$ because we all agree that it the case. If we lost that faith it would just me a small green bit of paper.

With government controlled currencies it is easy for the general population to have this faith as they know that the government will, to some extent, enforce this perceived value and will be able to manipulate supply to keep it relatively stable (unless you have a failed state, weimar germany etc).

With Bitcoin there is no government to enforce value or manipulate supply so it really does rely does reply on faith. Peoples faith is based to on what others think and what others think is based to some extent on a media sector which needs to sensationalize everything to get interest and make money.

[LittleD]

because bitcoin is a Ponzi Scheme Bubble back by nothing but rumor / lie / fake hope

that's why media or rumor matter

wow how old are you bro ! do you even now what BTC is Please do so research and answer your own comment

[hilariousandco]

It's not the media, but rather the people who follow it. People seem to panic sell on the slight bit of negative press and it has a snowball effect.

because bitcoin is a Ponzi Scheme Bubble back by nothing but rumor / lie / fake hope

that's why media or rumor matter

wow how old are you bro ! do you even now what BTC is Please do so research and answer your own comment

Don't feed the trolls  .

[freebitcoinwin]

Because Bitcoin growth was in light of recent media attention, at the same time panic caused by the media can make the price fell

[Lauda]

Media has significant control over pretty much anything nowadays. It's the kind of times we live in.

Like I said, we have too many sheep in our population.

[yatsey87]

Media has significant control over pretty much anything nowadays. It's the kind of times we live in.

Like I said, we have too many sheep in our population.

They wouldn't have control if people wern't so ignorant and naive.

[pening]

The media is a conduit for information.  Sure, particular outlets put their spin on things, hide, deceive even lie and make things up.  But in the end they are only a method for information to be distributed.  If you believe they control Bitcoin, that means there isnt another story, another side of more interest to the one they are running.  They don't control the bitcoin price, the market does, and if that only responds to media it suggests there is a lack of depth in the market.

[LittleD]

Here we go again WOWOWOWOOWOWOW


BTC Price Declines Following False Report of Bitcoin Ban in China:

http://www.coindesk.com/bitcoin-price-declines-following-false-report-chinas-bitcoin-ban/

[RodeoX]

The "media" does not influence my bitcoin use. I know more than them.

[Stinky_Pete]

Less 'control', more 'influence'.

[franky1]

WHY does the media have so much control over Bitcoin price?

the answer comes in 4 stages

1) because you read it.
2) then make choices because of it
3) without researching the truth.
4) because you dont have time to research due to emotions making you panic to want to take control of your wealth that instant

[rero2]

they have control because so many people watch the media, they say something good and you get hundreds of people that dont know wanting to invest

[bbeagle]

Why? Because we have a high percentage of 'sheep' in our population.

When you fall back to the 'sheep' argument, it shows that you really don't care to hear other people's opinions. Why should they care about your opinion then?

Why do people buy Apple products? They're all sheep.
Why do people vote for Obama? They're all sheep.
Why do people believe in global warming? They're all sheep.
Why do people believe in religion? They're all sheep.
Why does the media hate bitcoin? They're all sheep.

There are logical reasons for people to be on both sides of any issue. Equating the other side to 'sheep' means you are unable to step in their shoes and understand the real reasons. You'll never get people to understand YOUR side until YOU understand THEIR side.

Bitcoin is NOT all amazing and awesome. Yes, there are parts of it that are if you have a certain point of view, and I LOVE certain things about bitcoin. There are also really scary parts too, all depending on your point of view.

For example, when I hear someone say, 'bitcoin is awesome because there are no transaction fees', I laugh. It makes NO SENSE AT ALL to love bitcoin for that, at least right now. If I get up in the morning with 1 btc worth $600. I go out an hour later and want to buy something. My 1 btc might be now worth $630 or $570. Really! It's gone up or down 5%! As a consumer, it doesn't really matter at all if I was charged 3% using a credit card, my btc fluctuate so much that I might pay more or less, I don't know. Once btc are more of a stable currency, THEN AND ONLY THEN I will be interested in the 'no transaction fee' thing.

[vitarian]

FUD 

[Stinky_Pete]

For example, when I hear someone say, 'bitcoin is awesome because there are no transaction fees', I laugh. It makes NO SENSE AT ALL to love bitcoin for that, at least right now.

Bitcoin has transaction fees. Fact.

[tkbx]

Those questions are worded... "interestingly".

The questions are kind of misleading. To state that "nobody controls Bitcoin" isn't really true. The majority controls it.

This is equally true for exchanges as the network. If demand is down and supply is up, the price falls. If the media can increase supply (get people with Bitcoin to want to sell them, unlikely) or reduce demand (get people to not want to buy Bitcoin, likely) then they can lower the prices.

[Beliathon]

Because most people are very stupid.