CBS '60 Minutes' 5/19/19 on Bitcoin. Will it cause FOMO or FUD? (Take the Poll!)

[Searing]

Well, CBS on '60 Minutes' Tonite will have a segment on Bitcoin.

What do you think? Either before you watched or after you watched or just guessing. Take the Poll.

Will the result of this cause FOMO? (Balanced reporting IMHO on Bitcoin?)

or

Will it cause FUD? (Unbalanced reporting IMHO on Bitcoin?)

Take the Poll on here.

Chump or Champ, we are always the 'first' to know! Ack!

Brad


https://www.chepicap.com/en/news/9819/will-60-minutes-cause-a-bitcoin-rally-or-fud-.html

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[Searing]

Here is a link to the CBS 60 Minutes piece of 5/19/19.


https://www.cbsnews.com/news/bitcoins-wild-ride-60-minutes-2019-05-19/


My view on this is posted in the thread below. Make your own conclusions in regards to the poll. (Take the Poll)

later

Brad

[franky1]

the section of the interview where they interview a women from DCI from MIT shows that MIT is not as smart as people think and she has not really grasped the depths of it.

alot of people dont understand the underlying value (intrinsic) of bitcoin
i dont mean the topline current price based on hype emotion, speculation.. but the actual underlying value.

there are 2 main value points.
utility value: what you can do with it
acquisition value: what its worth to create/acquire

the first is obvious. if a coin has no real world function, its useless and has no utility value
the second is where people buy it at a cost and reach a point they wont sell below

for instance PoS coins have no underlying cost of creation so the value has no real intrinsic value and can drop to zero.

but bitcoin has utility and underlying cost(mining)

take for instance gold. everyone knows it has a purpose (circuits and jewellery) but imagine the price if it only cost a few cents to acquire it. EG using a spoon and a coffee filter using soil in your own back yard. golds value would be way way less even if the utility was the same.

now because it requires excavators and sluice machines, gold costs $xk no xcents
PoW coins cost more than PoS

right now its judged that the acquisition/mining cost is $5-6k and the couple thousand ontop is the speculative hype based on utility/fomo

if media actually went and explained the 'what if gold could be dug up with a spoon and a coffee filter' to explain the underlying costs that build up the value which then has a layer of speculation. people will see that bitcoin wont zero-out and thus can create some positive assurance.

yes the speculative area of $5k-$8k may jump about abit due to fomo/fud which no on can predict but then people will learn and atleast start talking as if bitcoin is an actual asset with some value backing it, instead of thinking the whole $0-$8k is hype

so lets see when/if real media start talking about bitcoin in the logical terms of intrinsic asset value and not just speculation.

[rdbase]

The whole segment was about charlie shrem known as bitcoin moses and his fall into bad luck with taking a payment which was used to buy illegal things on the dark web.
It did have some good points but overall it was just directed towards the public view about it. As a skeptical thing to use and banks were safer with its fiat financial system.

[Searing]

My take on this is that the consensus of 60 minutes is that Bitcoin is still in the FAD stage.

They showed how it works, they showed how you can be fast and loose with this FAD in their eyes...

They basically, just went 'meh' its a FAD, here is how it works, here are some humorous f*ckups and 20/20 hindsight (800 million $$ in pizza/etc and Charlie Sheem)

etc, etc.

They ended it, as they say, much like the Internet pieces they did 20 years ago. They also thought that was a FAD.

So I guess I should have voted for Neither in the poll, not FOMO...it was kinda meh...for whoever watches it IMHO.

It did not do anything good or bad toward Bitcoin's Reputation...It simply did what we all do/know when talking with newbs about BTC, so 60 minutes  got BTC

noticed with the same lame, sidetracked and incomplete confusion on explanation and  info that all of us

talk about, whenever we are cornered on holidays with relatives...they ask about, we try to reply, but essentially most people just think Bitcoin and Crypto is a FAD...

that may or may not die or moon...

so my vote should have been 'meh' or neither helped nor hurt Bitcoin this piece...

anyway, how I saw this CBS 60 minutes piece...

[Biodom]

I also vote for : "meh"
They did not explain it properly.
Besides, they tried to say that $5 bill is also only supported by "faith", but any noicoiner would just sigh in disbelief:
"I have $5 bucks right here and it is real, I can just get a big mac by spending it, duh!"
Not sure why the knowledge about btc spreads so slowly.

[TimeBits]

The second they mention anything about fiat price, I am turning it off.
What a waste of time. CBS you owe me 16 time coins.

Charlie you are not the Moses of bitcoin you are the false prophet who did it for self profit.

Read the first sentence of the white paper, you changed bitcoin into fiat, contrary to the whole vision.

[Biodom]

The second they mention anything about fiat price, I am turning it off.
What a waste of time. CBS you owe me 16 time coins.

Charlie you are not the Moses of bitcoin you are the false prophet who did it for self profit.

Read the first sentence of the white paper, you changed bitcoin into fiat, contrary to the whole vision.

nice, albeit small, yacht, though  .

[dothebeats]

Lack of in-depth explanation as to how bitcoin really works and how the community came up to where it is right now. Only watched the first 10 minutes and never bothered to continue further. People would only get interested at first because it's bitcoin hitting the news once more, but the interest can only go so much because none of the people in there knew what they were actually talking.

It's great to have bitcoin on media again, but with these guys? Meh.

[OgNasty]

I thought the piece lacked substance. I don’t think it would have convinced anyone of anything. It was cool seeing my username on TV though.

[mk4]

Just watched it minutes ago. Though it was a lot better than I expected(I was expecting mostly FUD), it was still "meh". I don't think it's going to bring in significant buyers. Probably just got a few people more curious about it, but beyond that, nothing significant.

[CryptoBry]

What is the most important thing here is that bitcoin is now truly being talked about in the popular mainstream media and reality speaking we could not expect these people who are into cryptocurrency to fully grasp the whole beast. As they say, even negative press mention can still be turned into a positive one because you are on the buzz. I am sure that there will be some people who will research for more details on bitcoin because of that broadcast. Somehow this can create some FOMO but we should not think that a single program time allocation can create a tide for bitcoin there is no way for that to happen.

[Micerker]

I do not assess FOMO and FUD because we do not know the reason why things are happening. But with what is going on, we see this is a big FOMO when the trading volume has increased sharply in the past days. Bitcoin prices have increased by $ 1,500 in a short time. It is still rising at present. We should be optimistic when CBS has brought Bitcoin back to the track.

[Yaunfitda]

The whole segment was about charlie shrem known as bitcoin moses and his fall into bad luck with taking a payment which was used to buy illegal things on the dark web.
It did have some good points but overall it was just directed towards the public view about it. As a skeptical thing to use and banks were safer with its fiat financial system.

This one. I think it was more on Charlie than bitcoin itself. So I say it's just a so-so interview and wouldn't have cause that much FOMO.

But at least we have that mainstream covering it, so I say it might bring some effect in the future. And there could be more sensationalized coverage later, who knows. 

[davis196]

It won't cause neither FOMO or FUD,because nobody cares about CBS.
Again the mainstream media starts paying attention to bitcoin only because the btc price is up.
If another price crash occurs,the mainstream media will forget about bitcoin(again).

[Kakmakr]

I think their main goal was to declare Bitcoin as a temporary FAD. They took "clickbait" type negative events from the past to discredit Bitcoin and sensationalized the topic. 

Many news media outlets did the same thing with the Internet back in the early days and look how that turned out now. These kind of things must be seen as a challenge for us to prove them wrong. Just continue what you are doing and grow Bitcoin organically without all the fuzz influencing your views on the technology. 

[mk4]

It's a lot less FUD-ish than I expected though, so I see that as a positive. My standards and expectations were quite low as I was expecting clips from Warren Buffet and Jamie Dimon calling bitcoin a scam or something. Both of them not being in the video is a win for me. 

[franky1]

for me the shrem/pizza parts of the show was 'meh', just social drama entertainment.
but when they interviewed the woman who is at a digital currency initiative department of MIT i thought there would be more accurate and deep content. but it seemed she was not very 'MIT' ish

firstly comparing it to fiats 'belief in value, and thats it' (facepalm)

next was the whole describing mining segment involving genesis mining.(facepalm)
ASIC's do not store records(asics have no hard drive).. so saying the mining done by genesis is the location where records are kept can be misguiding people to think genesis mining are 'the bank' and user software just 'watches the numbers and letters'

lastly the MIT woman then has the 50/50 mindset that 'it can flame out and die'. meaning she is on the fense and hasnt really got into understanding the potential

maybe i got this all wrong and the show '60 minutes' is not about 60 minutes of indepth reporting. but 60 minutes of how much effort they put into preparing, researching, interviewing and travelling.(meaning no spare time to double check before publishing)

[Red-Apple]

It's a lot less FUD-ish than I expected though, so I see that as a positive. My standards and expectations were quite low as I was expecting clips from Warren Buffet and Jamie Dimon calling bitcoin a scam or something. Both of them not being in the video is a win for me. 

it may be because things are slowly starting to change a little over in US. for example with creation of Bakkt, with involvement of big companies in it and some other cases of involvement of big companies with bitcoin (like all those that started accepting bitcoin payment recently),... the media can't outright say bitcoin is scam anymore like they were doing before.

[TimeBits]

The second they mention anything about fiat price, I am turning it off.
What a waste of time. CBS you owe me 16 time coins.

Charlie you are not the Moses of bitcoin you are the false prophet who did it for self profit.

Read the first sentence of the white paper, you changed bitcoin into fiat, contrary to the whole vision.

nice, albeit small, yacht, though  .

Yah, I hope it is worth living millions of lives that have been ruined.  Congrats on doing dishes for a few weeks! come work on my farm buddy! I bet I pick more cherry baskets in two hours than you in a day! I bet the 12 year old me beats the today you!

[kenzawak]

Hard to summarize Bitcoin in 13 minutes but they tried and did a decent job even though it was mostly about Charlie Shrem's story.
At least, there was no FUD and the ending says it all "it's a 50/50 chance that it will succeed".

[pushups44]

Here is a link to the CBS 60 Minutes piece of 5/19/19.


https://www.cbsnews.com/news/bitcoins-wild-ride-60-minutes-2019-05-19/


My view on this is posted in the thread below. Make your own conclusions in regards to the poll. (Take the Poll)

later

Brad

Thank you. I watched the program and I can say it was impressively done and neither pro- nor anti-bitcoin. It simply covers the rise of the cryptocurrency into a multi-billion dollar industry along with the struggles of early entrepreneurs such as Charlie Shrem, as well as its hyper-volatility. It leaves open the possibility that cryptocurrencies may transform the world just as the internet did.

[pushups44]

Hard to summarize Bitcoin in 13 minutes but they tried and did a decent job even though it was mostly about Charlie Shrem's story.
At least, there was no FUD and the ending says it all "it's a 50/50 chance that it will succeed".

Yes, Neha Narula of the MIT Digital Currency Initiative did a fantastic job explaining cryptocurrency to Anderson Cooper and the audience. Her insights definitely made this clip a must-see for those who wonder where this industry is heading. It's nice to finally see one of the main academic figures working to advance the technology.

[ApocalypseNow]

Wow! I really loved that show when I was still watching TV! I think they won't be biased and will show the two faces of how people use bitcoin. I'm going to save it on my notes to watch the full segment. That exposure is guaranteed fomo for many people who watched the show when we see btc 20k$ again.

[Searing]

What is the most important thing here is that bitcoin is now truly being talked about in the popular mainstream media and reality speaking we could not expect these people who are into cryptocurrency to fully grasp the whole beast. As they say, even negative press mention can still be turned into a positive one because you are on the buzz. I am sure that there will be some people who will research for more details on bitcoin because of that broadcast. Somehow this can create some FOMO but we should not think that a single program time allocation can create a tide for bitcoin there is no way for that to happen.

Some pieces say it is POSITIVE for Bitcoin..go figure...I think it was 'meh' also...but anything from the mainstream that does not come right out and bash BTC or crypto

is probably a good thing.

The piece was so bland IMHO, that it did not hurt nor help btc in anyway...

here is a another view

https://coinfomania.com/60-minutes-bitcoin-was-a-positive-exposure/

[Artemis3]

Well, CBS on '60 Minutes' Tonite will have a segment on Bitcoin.
What do you think? Either before you watched or after you watched or just guessing. Take the Poll.
Will the result of this cause FOMO? (Balanced reporting IMHO on Bitcoin?)

or

Will it cause FUD? (Unbalanced reporting IMHO on Bitcoin?)
Take the Poll on here.
Chump or Champ, we are always the 'first' to know! Ack!

Here is the actual source:

Bitcoin's wild ride
Anderson Cooper reports on how bitcoin was started, where it may go and some of the people who have ridden the cryptocurrency roller coaster over the last 10 years

Watch it, its good. No wonder the price is rebounding up...



Laszlo (Pizza man) achieving world fame (again) by getting interviewed in CBS 60 minutes world famous show.

This was good coverage, it think it was quite accurate. Worth watching and sharing for those that still don't get it. Genesis mining got a little free advertising, but thankfully no one mentioned their core business (cloud mining).

Oh and my country got mentioned too, because, reasons...

[squatter]

So I guess I should have voted for Neither in the poll, not FOMO...it was kinda meh...for whoever watches it IMHO.

It did not do anything good or bad toward Bitcoin's Reputation...It simply did what we all do/know when talking with newbs about BTC, so 60 minutes  got BTC

Any coverage is good coverage, especially if it's not intentional misinformation and debunking. 60 Minutes is huge among the mainstream middle-aged crowd. That kind of coverage combined with the recent rally will expose lots of regular folks to Bitcoin. Some of them will look further into it, or will be asking their children to invest for them.

[1Referee]

The piece was so bland IMHO, that it did not hurt nor help btc in anyway...

Seasoned Bitcoiners are pretty demanding, therefore consider most news coverage and/or documentary fragments to be bland or non information, but for average joes this is completely different. Everything related to Bitcoin is new and exciting, and I'm certain that this documentary or whatever you want to call it will do good and even motivate people.

The first time I heard about Bitcoin was through a documentary and I can remember that I got pretty pumped after watching it. If even a slight percentage of the viewers of CBS's 60 minutes end up digging into Bitcoin, that's a massive plus. It means more adoption than we had before the documentary, which we can't complain about, right? 

[Ailmand]

It doesn't matter if it's Fomo or Fud. They just want to be on the mainstream and make sound because Bitcoin's current price is in the mainstream as well. What I observed is they lack an explanation so it became pointless for me. I guess their main goal was just to promote and to advertise.

[rdbase]

But not exposure is good for bitcoin when it comes in trying to appease the general publics expectations of what they want from buying and using it.
This is the problem with these large corporate shows covering stories about it. They do it on their terms and alot of editing of interviews can make it out to what they want the viewers to see.