Topic: The Media's Death-Grasp On Bitcoin Price - page 2. (Read 2090 times)

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.

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.

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