2014-02-25 LaTimes: Bitcoin virtual currency on verge of collapse

[Singlebyte]

http://www.latimes.com/business/la-fi-bitcoin-collapse-20140226,0,5968430.story#axzz2uPKts7O6

Oh really!?  Looks like BTC is going for about $600 each in my neck of the woods.


What a bunch a FUD.

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[seldon]

Wow.. look at the comments. So much butthurt and envy

[Mike Christ]

Wow.. look at the comments. So much butthurt and envy

Yep, lots of this going on:



Biases successfully confirmed!

Also:
"The dollar is backed by the full faith and credit of the U.S. government" is a popular comment.

What does this mean?  Broken down, it seems to mean, "The dollar is backed by its users," assuming we are Big G, but that's precisely what Bitcoin is backed by, so going by in-the-matrix logic, what's the fundamental difference?  Is he drawing an "us vs. them" dichotomy, i.e. primarily drawn from the notion of patriotism?

[hilariousandco]

Wow.. look at the comments. So much butthurt and envy

This is to be expected on all mainstream media articles that allow comments. A load of technophobes and cryptobleb naysayers who can't wait to tell you I told you so to every piece of misinformation they see.

[aigeezer]

Wow.. look at the comments. So much butthurt and envy

This is to be expected on all mainstream media articles that allow comments. A load of technophobes and cryptobleb naysayers who can't wait to tell you I told you so to every piece of misinformation they see.

"Enemy action", I would guess, rather than spontaneous reactions from Joe and Jane Lunchbucket. There must be entities heavily invested in making crypto fail and sock-puppetry has become a standard tool of Big Anything. Joe and Jane presumably don't care much about BTC one way or the other.

Cui bono.

 

[hilariousandco]

Wow.. look at the comments. So much butthurt and envy

This is to be expected on all mainstream media articles that allow comments. A load of technophobes and cryptobleb naysayers who can't wait to tell you I told you so to every piece of misinformation they see.

"Enemy action", I would guess, rather than spontaneous reactions from Joe and Jane Lunchbucket. There must be entities heavily invested in making crypto fail and sock-puppetry has become a standard tool of Big Anything. Joe and Jane presumably don't care much about BTC one way or the other.

Cui bono.

 

I'm not sure there's a conspiracy to it, that's just the general masses for you. They fear what they don't understand, and when they finally do understand it it's either too late or they missed the boat.

[cryptoanarchist]

Wow.. look at the comments. So much butthurt and envy

This is to be expected on all mainstream media articles that allow comments. A load of technophobes and cryptobleb naysayers who can't wait to tell you I told you so to every piece of misinformation they see.

"Enemy action", I would guess, rather than spontaneous reactions from Joe and Jane Lunchbucket. There must be entities heavily invested in making crypto fail and sock-puppetry has become a standard tool of Big Anything. Joe and Jane presumably don't care much about BTC one way or the other.

Cui bono.

 

^this, but also, having lived in LA, I can tell you that the average IQ there is less than 100.

[samurai1200]

LOL so much misinformation in that article. And it is on the front of the actual newspaper this morning! I find the website's comments particularly hilarious. Notta one had correct spelling and punctuation.

[hilariousandco]

LOL so much misinformation in that article. And it is on the front of the actual newspaper this morning! I find the website's comments particularly hilarious. Notta one had correct spelling and punctuation.

It was actually on the front page? Must be a slow day for news, but I don't understand why they would publish such crap unless they've got an ulterior motive.

[aigeezer]

Wow.. look at the comments. So much butthurt and envy

This is to be expected on all mainstream media articles that allow comments. A load of technophobes and cryptobleb naysayers who can't wait to tell you I told you so to every piece of misinformation they see.

"Enemy action", I would guess, rather than spontaneous reactions from Joe and Jane Lunchbucket. There must be entities heavily invested in making crypto fail and sock-puppetry has become a standard tool of Big Anything. Joe and Jane presumably don't care much about BTC one way or the other.

Cui bono.

 

I'm not sure there's a conspiracy to it, that's just the general masses for you. They fear what they don't understand, and when they finally do understand it it's either too late or they missed the boat.

Average people don't bother to write letters to editors or comments on newspaper websites, in my experience. They are preoccupied with other things. Why should the average person bother to get worked up about any article that they perceive does not affect them directly? People who comment generally have skin in the game, or think they do. Other than these folks, of course:

http://www.theguardian.com/science/head-quarters/2014/feb/25/internet-trolls-are-also-real-life-trolls

[hilariousandco]

Wow.. look at the comments. So much butthurt and envy

This is to be expected on all mainstream media articles that allow comments. A load of technophobes and cryptobleb naysayers who can't wait to tell you I told you so to every piece of misinformation they see.

"Enemy action", I would guess, rather than spontaneous reactions from Joe and Jane Lunchbucket. There must be entities heavily invested in making crypto fail and sock-puppetry has become a standard tool of Big Anything. Joe and Jane presumably don't care much about BTC one way or the other.

Cui bono.

 

I'm not sure there's a conspiracy to it, that's just the general masses for you. They fear what they don't understand, and when they finally do understand it it's either too late or they missed the boat.

Average people don't bother to write letters to editors or comments on newspaper websites, in my experience. They are preoccupied with other things. Why should the average person bother to get worked up about any article that they perceive does not affect them directly? People who comment generally have skin in the game, or think they do. Other than these folks, of course:

http://www.theguardian.com/science/head-quarters/2014/feb/25/internet-trolls-are-also-real-life-trolls

Because they fear or are envious of it or just need something to fill their petty and pathetic lives up. They see people getting rich off Bitcoin and are sceptical and/or daren't put money in it and just naysay, then when something goes wrong or they see FUD they love to prove themselves right. Just look at the comments in any crappy tabloid paper. One headline might be Look How Good Kim Kardashian's Beach Body Looks Only Two Months After Giving Birth or whatever, and people will see it who don't care one iota about KK and decide to comment on it saying how ugly or fat she is or whatever. It shouldn't affect them, but it does, and this is the internet so they can say what they want without repercussion.

[LiteCoinGuy]

Wow.. look at the comments. So much butthurt and envy

This is to be expected on all mainstream media articles that allow comments. A load of technophobes and cryptobleb naysayers who can't wait to tell you I told you so to every piece of misinformation they see.

true but in the end we "need" mainstream media to spread the word (after they unsterstand it hopefully)

[justusranvier]

There's something collapsing here, but it sure isn't Bitcoin:

http://articles.latimes.com/2013/aug/29/business/la-fi-tribune-earnings-20130830

[aigeezer]

Just look at the comments in any crappy tabloid paper.

This supports both your view (average people) and mine (vested interest players).

There are a couple of reasons I hold to the vested interest argument. First, as I've mentioned, is that I have never encountered anyone in my everyday life who spontaneously writes to media about arbitrary topics. Never. Of course such people exist - it's just that I believe they are very rare birds.

Second, many years ago, I had my eyes opened a bit when a media publisher contacted me and asked if I would like to write a "spontaneous" letter to the editor commenting on a recent story. I was flattered and wrote something. After a bit of digging I discovered that all the other commenters had been solicited also. The games were much more innocent then than now, I think.

Unprovable issue either way. I wish we could get statements from those commenters and learn what makes them tick.     

[Singlebyte]

There's something collapsing here, but it sure isn't Bitcoin:

http://articles.latimes.com/2013/aug/29/business/la-fi-tribune-earnings-20130830

Lol...nice comment!

[samurai1200]

...when a media publisher contacted me and asked if I would like to write a "spontaneous" letter to the editor commenting on a recent story.

Interesting!

[Gabi]

Welcome to 2014 journalism 

[hilariousandco]

Just look at the comments in any crappy tabloid paper.

This supports both your view (average people) and mine (vested interest players).

There are a couple of reasons I hold to the vested interest argument. First, as I've mentioned, is that I have never encountered anyone in my everyday life who spontaneously writes to media about arbitrary topics. Never. Of course such people exist - it's just that I believe they are very rare birds.

Second, many years ago, I had my eyes opened a bit when a media publisher contacted me and asked if I would like to write a "spontaneous" letter to the editor commenting on a recent story. I was flattered and wrote something. After a bit of digging I discovered that all the other commenters had been solicited also. The games were much more innocent then than now, I think.

Unprovable issue either way. I wish we could get statements from those commenters and learn what makes them tick.      

I'd still say it's just fear and jealousy as opposed to a vested interest. I think It's same with twitter trolls etc who get tracked down and arrested after saying something racist or threatening someone. Half of the time they won't be racist or have much of an interest in the person they got caught for attacking, but are essentially just losers who are angry at the world and need to fill their lives with something to make themselves feel better. I think the whole media-driven celebrity culture is a massive part of it. People just don't like it when others make money or become successful and they're jealous and hateful of it so attack it. This applies to both Bitcoin and celebs.

There was a recent case in the UK and you only have to look at the pair to see why they must be so angry, and reading further you see they obviously have other issues. The internet just gives a voice to the voiceless and for those to scared to do anything in real life. People only say stuff online because it's so easy to do and they think there's no consequences.