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Author Topic: How we talk about Bitcoin  (Read 738 times)
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May 18, 2011, 12:00:26 AM

It's hard not to get excited about the significant rise in the exchange rate of Bitcoin. However, I think we all do Bitcoin a disservice when we focus on this aspect when introducing new parties to Bitcoin. This has been a recent trend both on this forum, and when people post to other online communities. Advertisements like the radio advertisement put out today on this forum, that imply a certainty in an ever increasing value of Bitcoins, make the Bitcoin pitch sound no different from the latest get-rich-quick scheme. Everyone holding Bitcoins obviously benefits from an increase in its value, and the people being pitched will always understand that incentive problem. I agree that if Bitcoins are successful on even a limited scale, that the value would increase substantially. This point though, should be made secondary to the benefits of Bitcoin - both the reasons it could be successful, and the reasons one might want it to be successful. There are many reasons to like the idea of a future where Bitcoins are a viable currency. Especially as the mainstream media and new communities become more interested in Bitcoin, the first pitch should focus on these political, social, economic, and technological advantages. The practical use of Bitcoin is the very thing that might lead to its increase in value.
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