Topic: CBS '60 Minutes' 5/19/19 on Bitcoin. Will it cause FOMO or FUD? (Take the Poll!) - page 2. (Read 403 times)

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.

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.

nice, albeit small, yacht, though  .

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.

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.

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...

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.

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.

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

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