Mainstream Media Fails at Bitcoin Again

When it comes to bitcoin, it would be fair to say that the mainstream media does have a tendency to get things wrong. Although coverage has improved since the early days, as some journalists are beginning to take the digital currency and its underlying technology more seriously, mistakes continue to crop up. Ranging from hugely inaccurate to outrageously funny, here are some of the biggest mainstream media fails to date. 1. Hunt for Satoshi Nakamoto. The mainstream press has joined the pursuit to identify Satoshi Nakamoto, the person or group of people credited with creating bitcoin. Back....

A recent report on one of the Italian media outlets tries to discredit Bitcoin by stating outdated information. Bitcoin is a revolutionary cryptocurrency that has the potential to create an efficient global economic system. But these changes won’t come easy. For Bitcoin to create a new economic order, it has to deal with few enemies in the form of governments and mainstream media. The mainstream media has deviated from its core principles and fails to be objective in their reporting. The reporting on these outlets are either designed to gain more readership or to further the agenda of....

Mainstream media is having a field day as of late by referring to blockchain every time they want to make a mention of companies involved in Bitcoin and cryptocurrency. This trend has been noticeable for quite some time now, and it has come to a point where it seems the media is trying to kill off the term Bitcoin altogether. Futile efforts, though, as people with more than two peas for a brain will know what is really going on. Everywhere people look these days; it appears as if media headlines only talk about blockchain this and blockchain that. Sooner or later, this will lead to a....

The current business model of social media doesn’t extend profits to the creators of the content. Besides, it is susceptible to censorship, as actors with enough power can exert pressure to block users or content that they don’t like. “The mainstream media has lost power recently thanks to free speech enabled by the Internet,” explains Dan Larimer, Co-Founder of Steemit. “Fake news frequently circulate our media feeds, causing platforms and outlets to lose value and power. In response to this, they are proposing censorship as the solution, yet censorship does not give people the....

Even though mainstream media outlets earn good money by spreading the news to the general population, not all of their news is based on research, facts, or truths. After all, negative news will sell more papers or online subscriptions whereas positive news is read once and then forgotten about. Mainstream media has never been keen on Bitcoin and digital currency unless they were able to spread misconceptions or create negative press that was based on speculation. The popular digital currency has seen various iterations of attacks by mainstream media throughout the years, but journalists....