I was watching CNN today while getting ready for work and they had a 30 second tidbit on bitcoin... basically saying bitcoin has "collapsed" and users unexpectedly lost money from the shutdown of the most respected exchange. Fucking lol... why is the media so retarded?
mainstream media doesn't report news - they spin it.
but in all fairness, CNN's website says this:
"Bitcoin skeptics say the digital currency is doomed. They're wrong. But the failure of Mt.Gox shows the agony of an evolving industry without any government oversight and led by tech entrepreneurs with zero financial experience."
The news is often inaccurate, but if they have the time (which they often don't) to get educated on a matter, are following an ongoing story, have the chance to collaborate with other reporters, and/or see other stories that's when they get things right. Otherwise they just take what they could get, use some critical thinking, creative writing, then serve it in an extremely articulate way.
It may be true that tech pros may know little about finance, but the finance pros know little about tech AND know little about Bitcoin and CC in general.
Cryptocurrency is a nascent industry with tremendous potential, bitcoin is showing only a 'bit' of what it can do as well as what the all of the other coins can do.
