People actually thought bitcoin was dead because of MtGox?

[Dafar]

I was watching CNN today while getting ready for work and they had a 30 second tidbit on bitcoin... basically saying bitcoin has "collapsed" and users unexpectedly lost money from the shutdown of the most respected exchange. Fucking lol... why is the media so retarded?

[rat]

mainstream media doesn't report news - they spin it.

but in all fairness, CNN's website says this:

"Bitcoin skeptics say the digital currency is doomed. They're wrong. But the failure of Mt.Gox shows the agony of an evolving industry without any government oversight and led by tech entrepreneurs with zero financial experience."

[LHB]

I got woke up 4 hours early from the endless phone calls because of this stupid story.


"they took all the money and shut bitcoin down"..........yeah, not possible

"oh, but they arrested the CEO"......yeah, Charlie Sherm, like 2 weeks ago

"the market has collapsed, bitcoins are worthless".......well, got me there, ON GOX


of course I still has to get up and to the computer to see what all the commotion was about, as suspected.....nothing but FUD

[2double0]

Yep people get scared easily today

[mvdheuvel1983]

Yep people get scared easily today

Big exchange like Gox falling down is a big thing. 744,000 BTC stolen is also a very big thing. Who says this can't happen again with one of the other big exchanges?

[neot]

government is trying to kill bitcoin with the media it owns.

[hostmaster]

mainstream media doesn't report news - they spin it.

but in all fairness, CNN's website says this:

"Bitcoin skeptics say the digital currency is doomed. They're wrong. But the failure of Mt.Gox shows the agony of an evolving industry without any government oversight and led by tech entrepreneurs with zero financial experience."

agreed speculators gains in these spins...

[ChuckBuck]

Was watching my local Fox news affiliate, and they said Bitcoin essentially died.   

I looked at my wife and started laughing.   

Love how these media people equate ONE exchange dying with a whole cryptocurrency dying.

[DannyHamilton]

Big exchange like Gox falling down is a big thing. 744,000 BTC stolen is also a very big thing. Who says this can't happen again with one of the other big exchanges?

Not only CAN it happen again, it almost certainly WILL happen again.

It is your responsibility to make sure that you don't purchase a promise from a person or organization that is not going to deliver on that promise.  If you choose to take a risk trusting an entity to deliver on a promise, then you'll experience the consequences of that decision.

[miketonic]

Reading all these posts in here it seems that people really did think so  

[wnetwork]

When people think of bitcoin (if they don't do research or know well enough), they think of mtgox.

[FelixOliver]

Do you know how many Industries, Products etc the Government have crushed via the Media??... Bitcoin, however, is an entirely different beast

[Anon136]

I was watching CNN today while getting ready for work and they had a 30 second tidbit on bitcoin... basically saying bitcoin has "collapsed" and users unexpectedly lost money from the shutdown of the most respected exchange. Fucking lol... why is the media so retarded?

when ever the media talks about the thing that you know a lot about you realize how little they know about that thing. however the truth is that it isnt isolated to the thing that you happen to know a lot about, every person who is an expert in a field sees that field butchered by the media but thinks it only applies to his or her field. the truth is they butcher everything just the way they butcher bitcoin and you would see the same sort of shit in every single other topic they cover if you could be an expert in everything.

[Armis]

I was watching CNN today while getting ready for work and they had a 30 second tidbit on bitcoin... basically saying bitcoin has "collapsed" and users unexpectedly lost money from the shutdown of the most respected exchange. Fucking lol... why is the media so retarded?

mainstream media doesn't report news - they spin it.

but in all fairness, CNN's website says this:

"Bitcoin skeptics say the digital currency is doomed. They're wrong. But the failure of Mt.Gox shows the agony of an evolving industry without any government oversight and led by tech entrepreneurs with zero financial experience."

The news is often inaccurate, but if they have the time (which they often don't) to get educated on a matter, are following an ongoing story, have the chance to collaborate with other reporters, and/or see other stories that's when they get things right.  Otherwise they just take what they could get, use some critical thinking, creative writing, then serve it in an extremely articulate way.

It may be true that tech pros may know little about finance, but the finance pros know little about tech AND know little about Bitcoin and CC in general.

Cryptocurrency is a nascent industry with tremendous potential, bitcoin is showing only a 'bit' of what it can do as well as what the all of the other coins can do.

[Dafar]

Big exchange like Gox falling down is a big thing. 744,000 BTC stolen is also a very big thing. Who says this can't happen again with one of the other big exchanges?

Well people need to at least do some due diligence before investing into crypto. This is not a regulated market and the exchanges do not provide you insurance so of course shit like this can happen. You have to secure your own bitcoin at this point in time, leaving it in an exchange that takes weeks to months for withdrawals is not a good idea at all.

So this whole GOX shenanigans did not scare me in the least bit in regards to bitcoin's future... this is just a small bump on the road, much smaller than the news about China banning payment companies from processing funds to bitcoin exchanges. I'm still not bullish about bitcoin's price in 2014 due to all the setbacks, but this GOX issue is nothing (unless you lost your coins in GOX.. im sorry if you did)

I cannot believe people, even the idiots on reddit, are blowing this out of proportion and thinking this is the end of bitcoin.

When people think of bitcoin (if they don't do research or know well enough), they think of mtgox.

When I got into bitcoin I've never heard of MtGox, and why should I? It's a crap exchange not even based off the US. Coinbase makes it much easier for us

[rapsaodan84]

I'm surprised how much Gox affected Bitcoin.

It's like saying USD will collapsed because of a bank bankruptcy. :/

[2tights]

Do you know how many Industries, Products etc the Government have crushed via the Media??... Bitcoin, however, is an entirely different beast

Its an interesting dilemma. On one hand, their spins are creating a great buying opportunity. On the other had, it is a legitimate threat to the acceleration of the technology.

[skilo]

MSM is owned by the elites and their job is too discredit things that threaten the status quo.

Bitcoin allows people to make money cutting out the banks and the middle men and that's why they hate it, They want everyone to be their slaves basically they see us as slaves that are just supposed to go to work and pay taxes.

[Dafar]

I was watching CNN today while getting ready for work and they had a 30 second tidbit on bitcoin... basically saying bitcoin has "collapsed" and users unexpectedly lost money from the shutdown of the most respected exchange. Fucking lol... why is the media so retarded?

when ever the media talks about the thing that you know a lot about you realize how little they know about that thing. however the truth is that it isnt isolated to the thing that you happen to know a lot about, every person who is an expert in a field sees that field butchered by the media but thinks it only applies to his or her field. the truth is they butcher everything just the way they butcher bitcoin and you would see the same sort of shit in every single other topic they cover if you could be an expert in everything.

You are right, one thing I learned from bitcoin is that the media spits out all kinds of BS on just about anything.. it's amazing how they don't even need to verify all the facts before they report on a topic. It's easy to catch the BS when I'm so up to date with the topic (obviously because I have money invested in bitcoin). I used to believe everything I read from well-established news sites like Wallstreet Journal, Forbes, Business Insider, CNN, etc... now I know better.

[DeathAndTaxes]

Yep people get scared easily today

The funny thing is the people the most "scared" are the ones who don't own a single satoshi.