The Media's Death-Grasp On Bitcoin Price

[Emperion]

Along with the benefits of Bitcoin, comes the potential to abuse the system and corrupt power. The media is known to have a strong influence on the price of a commodity, whether it be Stocks, currency, or commodities. When news (good or bad) is released through major news outlets, the price of the object being covered is going to fluctuate depending on the events, and the weight of the news. Let’s take for example a simple commodity like wheat, a large corporation that farms wheat has developed new techniques to farm the wheat and distribute more quantity world-wide. This company then informs the news outlet of the information. If this company was publicly traded, the news outlet would have the opportunity to buy stock in the company before announcing the news. In exchange for the insider news, the media source would then front some of the earnings back to the wheat company after the profit was made from the stocks. While company managers of the wheat company would likely be caught for insider trading, the news source would be safe from any scrutiny. Variations of this scenario occur on a daily basis.

With Bitcoin, the possibility of corruption within the media is even greater, Bitcoin itself is a legal gray area. With Bitcoin address being mostly untraceable, the potential for ‘ insider trading’ is even greater. While insider trading with Bitcoin itself is different than insider trading with stocks, the mechanics are the same.

Read the full article at: http://coinfinance.com/news/the-medias-death-grasp-on-bitcoin-price

[silversurfer1958]

It's true, the media could be used by the bad guys to scare the masses out of Bitcoin.
The Bitcoin community should be aware of this and operate our own publicity campaign to counter any negative smears.
How about some Radio and TV ads.

Set up an official campaign for this and I will donate $1, I'm sure there are others who will do the same.
Let's get the public on board.

[Xiaoxiao]

It's true, the media could be used by the bad guys to scare the masses out of Bitcoin.
The Bitcoin community should be aware of this and operate our own publicity campaign to counter any negative smears.
How about some Radio and TV ads.

Set up an official campaign for this and I will donate $1, I'm sure there are others who will do the same.
Let's get the public on board.

But then again, the bitcoin communities' campaign/news would also have an agenda as well.

[cryptasm]

There was a recent clip about btc on my local news station and although there were some positives it mainly focused on the negative aspects like hacking, lack of customer protection and price volatility etc. We defo need some sort of official PR to counter all the bullshit

[Fraxinus]

I really don't like the negative claims on bitcoin where it is described as something not so transparent and it's bad that in many countries bitcoin is presented exactly like that by the media and people don't have the chance to actually understand bitcoin's concept,and we have to take some precautions for that.

[cryptnutter]

I fully expect the Bitcoin FUD spewing out of the mainstream media to increase over the coming months. Fortunately I still see the Bitcoin price rising drastically from here but it will definitely be a bumpy ride!

[lordscales91]

There was a recent clip about btc on my local news station and although there were some positives it mainly focused on the negative aspects like hacking, lack of customer protection and price volatility etc. We defo need some sort of official PR to counter all the bullshit

Oh! So that's the reason of the Bitcoin price going down, I knew there was something strange because according to www.bitcoincharts.com the last month Dell, an airline, a German newspaper and Wikipedia started to accept Bitcoin, that means more acceptance of the Bitcoin by merchants and other entities, and more acceptance should produce an increase in the Bitcoin value, however it's happening the opposite.

[Beliathon]

Sorry, I don't read the threads of people with banner ads, as I just assume everything they do is to get views/clicks for money in their pocket.

[Yeezus]

It's not the media that has a grasp but people panic selling etc. If people didn't pay attention to news and fud etc there would be no problem.

Sorry, I don't read the threads of people with banner ads, as I just assume everything they do is to get views/clicks for money in their pocket.

Banner ad? He doesn't have one. And that's pretty cynical and also obviously untrue.

[lordscales91]

It's not the media that has a grasp but people panic selling etc. If people didn't pay attention to news and fud etc there would be no problem.

Well, I personally don't watch the TV (I'm the whole day in front of my computer  ), and neither go to Google News or similar... But for good or bad, that's not the "standard" case, there are actually a lot of people who watch the news via TV or other media, it's not matter of paying attention to the news or not, it's matter of trust. If a trustful(at lest trustful for the watcher) source say that using Bitcoin is a bad idea, that is used mainly on the black market, drugs traffic, etc... if that person holds some significant amount in BTC, obviously will panic and sell them quick, it's the natural reaction.

The key is that you should not trust on a news source just because it's mainstream

Sorry, I don't read the threads of people with banner ads, as I just assume everything they do is to get views/clicks for money in their pocket.

Banner ad? He doesn't have one. And that's pretty cynical and also obviously untrue.

Actually there is one, on the footer of the post, but c'mon that's not technically an ad, it's just a promotion of a gambling site. Using the signatures to promote pages that you are affiliate with or your own projects is something very normal and it should not be considered spam.

[Ludi]

It's not the media that has a grasp but people panic selling etc. If people didn't pay attention to news and fud etc there would be no problem.

Well, I personally don't watch the TV (I'm the whole day in front of my computer  ), and neither go to Google News or similar... But for good or bad, that's not the "standard" case, there are actually a lot of people who watch the news via TV or other media, it's not matter of paying attention to the news or not, it's matter of trust. If a trustful(at lest trustful for the watcher) source say that using Bitcoin is a bad idea, that is used mainly on the black market, drugs traffic, etc... if that person holds some significant amount in BTC, obviously will panic and sell them quick, it's the natural reaction.

The key is that you should not trust on a news source just because it's mainstream

Most people don't get their news from mainstream media here. It usually happens from rumour or fud from other places. Many sources can have an effect on price.

Sorry, I don't read the threads of people with banner ads, as I just assume everything they do is to get views/clicks for money in their pocket.

Banner ad? He doesn't have one. And that's pretty cynical and also obviously untrue.

Actually there is one, on the footer of the post, but c'mon that's not technically an ad, it's just a promotion of a gambling site. Using the signatures to promote pages that you are affiliate with or your own projects is something very normal and it should not be considered spam.

All threads on this forum have an banner ad there.

[lordscales91]

Most people don't get their news from mainstream media here. It usually happens from rumour or fud from other places. Many sources can have an effect on price.

A simple rumour can influence on the price of BTC so easily? If it were so simple to manipulate the BTC price many traders would take advantage from it.

All threads on this forum have an banner ad there.

Oh! it was not part of the signature, it's an advertisement from the site itself.

[obocaman]

The media enjoys seeing BTC crash but they never report on it recovering.

[311]

Most people don't get their news from mainstream media here. It usually happens from rumour or fud from other places. Many sources can have an effect on price.

A simple rumour can influence on the price of BTC so easily? If it were so simple to manipulate the BTC price many traders would take advantage from it.

Many simple rumours have contributed to crashes. Look at all the china is banning bitcoin stuff which was just fud but caused the price to drop. People get a whiff of bad news and panic and it has a domino effect.

[valerian253]

The only way to combat "bad" media is to overpower it with "good" media. Unfortunately, there isn't a lot of "good" media being produced by the picture makers of the world. That's why I took it upon myself to make "Bitcoin: Buenos Aires" to show how this technology can be used to solve real problems. Help us spread the word!

Join our bitcoin movie crowdfunding campaign!

[Nagle]

All threads on this forum have an banner ad there.

You can disable ads in your profile.

[galbros]

Bitcoin is ruthless, if you lose your coins you are fucked.  It is that simple and that is just not the world that there is money in talking about.  There's tons of money in talking about victims and bad things that happen.  Bitcoin is just going to have to weather this storm.

There will be little media support over the long term for bitcoin.

[leanne]

It's incredible that a lot of sites or media are writing about 'record low prices' while the price surely has been lower. in fact, we're still over 400% up from last year levels!

[Minecache]

It's true, the media could be used by the bad guys to scare the masses out of Bitcoin.
The Bitcoin community should be aware of this and operate our own publicity campaign to counter any negative smears.
How about some Radio and TV ads.

Set up an official campaign for this and I will donate $1, I'm sure there are others who will do the same.
Let's get the public on board.

Wow $1. Go you. 

[KJO]

What else would you expect from the mass media? They are owned by the same corporatist plutocrats who run this global paper casino.

Nothing but propaganda 24/7. Their sole purpose is to extract as much liquidity as possible from the herd regardless of the vehicle...and that means they will do and say whatever it takes to maintain negative sentiment on all contrarian assets like bitcoin and metals.