Topic: WHY does the media have so much control over Bitcoin price? (Read 3568 times)

+1 True but we have to show them their stupid-nest  jejjejeeje

if you actually see what I wrote on page 2 you will know your answer and this should be closed after it

I do believe that what the other refer to is the fact that Bitcoin has such a low transaction fee compared to fiat currency. And, there can technically be no transaction fee but it will take days to confirm 

Because most people are very stupid.

Those questions are worded... "interestingly".

The questions are kind of misleading. To state that "nobody controls Bitcoin" isn't really true. The majority controls it.

This is equally true for exchanges as the network. If demand is down and supply is up, the price falls. If the media can increase supply (get people with Bitcoin to want to sell them, unlikely) or reduce demand (get people to not want to buy Bitcoin, likely) then they can lower the prices.

Bitcoin has transaction fees. Fact.

FUD 

When you fall back to the 'sheep' argument, it shows that you really don't care to hear other people's opinions. Why should they care about your opinion then?

Why do people buy Apple products? They're all sheep.
Why do people vote for Obama? They're all sheep.
Why do people believe in global warming? They're all sheep.
Why do people believe in religion? They're all sheep.
Why does the media hate bitcoin? They're all sheep.

There are logical reasons for people to be on both sides of any issue. Equating the other side to 'sheep' means you are unable to step in their shoes and understand the real reasons. You'll never get people to understand YOUR side until YOU understand THEIR side.

Bitcoin is NOT all amazing and awesome. Yes, there are parts of it that are if you have a certain point of view, and I LOVE certain things about bitcoin. There are also really scary parts too, all depending on your point of view.

For example, when I hear someone say, 'bitcoin is awesome because there are no transaction fees', I laugh. It makes NO SENSE AT ALL to love bitcoin for that, at least right now. If I get up in the morning with 1 btc worth $600. I go out an hour later and want to buy something. My 1 btc might be now worth $630 or $570. Really! It's gone up or down 5%! As a consumer, it doesn't really matter at all if I was charged 3% using a credit card, my btc fluctuate so much that I might pay more or less, I don't know. Once btc are more of a stable currency, THEN AND ONLY THEN I will be interested in the 'no transaction fee' thing.

they have control because so many people watch the media, they say something good and you get hundreds of people that dont know wanting to invest

WHY does the media have so much control over Bitcoin price?

the answer comes in 4 stages

1) because you read it.
2) then make choices because of it
3) without researching the truth.
4) because you dont have time to research due to emotions making you panic to want to take control of your wealth that instant

Less 'control', more 'influence'.

The "media" does not influence my bitcoin use. I know more than them.

Here we go again WOWOWOWOOWOWOW


BTC Price Declines Following False Report of Bitcoin Ban in China:

http://www.coindesk.com/bitcoin-price-declines-following-false-report-chinas-bitcoin-ban/

The media is a conduit for information.  Sure, particular outlets put their spin on things, hide, deceive even lie and make things up.  But in the end they are only a method for information to be distributed.  If you believe they control Bitcoin, that means there isnt another story, another side of more interest to the one they are running.  They don't control the bitcoin price, the market does, and if that only responds to media it suggests there is a lack of depth in the market.

They wouldn't have control if people wern't so ignorant and naive.

Like I said, we have too many sheep in our population.

Because Bitcoin growth was in light of recent media attention, at the same time panic caused by the media can make the price fell

It's not the media, but rather the people who follow it. People seem to panic sell on the slight bit of negative press and it has a snowball effect.


Don't feed the trolls  .

wow how old are you bro ! do you even now what BTC is Please do so research and answer your own comment

All currencies rely on faith that others will respect the values of that currency. A 100$ bill is only worth 100$ because we all agree that it the case. If we lost that faith it would just me a small green bit of paper.

With government controlled currencies it is easy for the general population to have this faith as they know that the government will, to some extent, enforce this perceived value and will be able to manipulate supply to keep it relatively stable (unless you have a failed state, weimar germany etc).

With Bitcoin there is no government to enforce value or manipulate supply so it really does rely does reply on faith. Peoples faith is based to on what others think and what others think is based to some extent on a media sector which needs to sensationalize everything to get interest and make money.