2014-07-30 Globe&Mail - The truth about bitcoin and its impact on business

[hacknoid]

http://www.theglobeandmail.com/report-on-business/small-business/sb-money/cash-flow/the-truth-about-bitcoin-and-its-impact-on-business/article19824887/

When I saw the headline I was worried this would be another FUD piece, but it's quite the opposite.  In fact, it is attempting to point out that most media articles are focussing on the negative aspects of Bitcoin, while ignoring all the positives.

The article does a great job of highlighting the Bitcoin use case.

My favorite line:

The amount of bitcoin used in illicit activity doesn’t even come close to the amount of fiat currency used in illicit activity. It’s not even in the same spectrum. No one has called for the end of the U.S. dollar because it’s used by drug dealers as that would undoubtedly be seen as ridiculous.

[Bit_Happy]

http://www.theglobeandmail.com/report-on-business/small-business/sb-money/cash-flow/the-truth-about-bitcoin-and-its-impact-on-business/article19824887/

When I saw the headline I was worried this would be another FUD piece, but it's quite the opposite.  In fact, it is attempting to point out that most media articles are focussing on the negative aspects of Bitcoin, while ignoring all the positives.

The article does a great job of highlighting the Bitcoin use case.

My favorite line:

The amount of bitcoin used in illicit activity doesn’t even come close to the amount of fiat currency used in illicit activity. It’s not even in the same spectrum. No one has called for the end of the U.S. dollar because it’s used by drug dealers as that would undoubtedly be seen as ridiculous.

Thanks for posting a positive article.  

No one has called for the end of the U.S. dollar because it’s used by drug dealers as that would undoubtedly be seen as ridiculous.
"No one...?"
Last year a U.S. Senator called for banning the USD in response to a state senator who asked that Bitcoin be banned. He was joking, and it received some good media coverage.

[Kprawn]

Well this is very true....

"The media’s insatiable desire to sensationalize stories has resulted in a lot of misinformation around bitcoin. For business owners who aren’t properly educated, this misinformation – understandably – leaves them with inaccurate opinions, and the reality of bitcoin is left somewhere behind."

How much damage has been done, by misinformation? Or press on crack. 

[medicine]

All journalists should post their btc addresses below each article.  That way they can receive tips for their work and the company and the journalist can have an agreement in place where a portion of the tips go to the author and a portion to the company. The Blockchain would make the entire process transparent. 

[LiteCoinGuy]

nice one, thx for sharing

[bitsmichel]

All journalists should post their btc addresses below each article.  That way they can receive tips for their work and the company and the journalist can have an agreement in place where a portion of the tips go to the author and a portion to the company. The Blockchain would make the entire process transparent. 

This would be really good for the journalists. That way, a good quality article would get tipped more 

Well this is very true....

"The media’s insatiable desire to sensationalize stories has resulted in a lot of misinformation around bitcoin. For business owners who aren’t properly educated, this misinformation – understandably – leaves them with inaccurate opinions, and the reality of bitcoin is left somewhere behind."

How much damage has been done, by misinformation? Or press on crack. 

There's been a lot of bad quality articles, anyone who has used bitcoin know there are a lot of false claims. I think any serious business owner would investigate if it has any added value to their business model - rather than rely on news articles for information.