When one is looking into buying into or has already bought into Bitcoin and is doing further research online about opportunities and such the biggest issue I have found is the articles are out of touch with the product. What I mean is that a well researched article, even from a very reputable source and author seemingly all have one issue over their heads. They seem to think the future of monetary exchange must be the past of monetary exchange. Take almost any article on the subject, like 10 Resons Why Bitcoin Will Fail from Listverse written by Elena Stark as an example. Okay, possibly a bad example by title which indicates a bias against Bitcoin from the start, the examples given are all relying on things from before being the only way things will be in the future.
Certainly a valid point that other 'coins' out there are also using blockchain and that they might have made theirs better having Bitcoins for a starting point, but that assumes that the need for better blockchains actually exists. Also, it assumes that Bitcoins cannot, or will not, update theirs as needed or wanted.
Additionally, Stark points out that the FBI is keeping a very close eye on Bitcoin and those using it. Well, sure that is likely very true. And? Seriously, the FBI is or perhaps the Treasury keeps a pretty close eye on all financial transactions. The difference is this. Even with this amazing graphic
courtesy of the nice folks at iStock, it isn't like me handing my reader a Bitcoin is illegal. Therefore, who cares if anyone is watching. If you are in a law breaking operation, the Bitcoin exchange is not the part of the process you are likely worried about. If it is, you have bigger problems.
Therein lies the biggest issue I have with articles, not just this one, written about how Bitcoin is going to burst, or it will fail, or it is a hoax, is this; the articles are written to frighten the less than informed away from the product. By product I do mean Bitcoin or any other coin but also the opportunity to actually make money without banks taking a cut or without a million other feed the system entities taking their cut. The purpose of most of these articles seems clear. Scare the masses away from crypto currencies in order to keep the status quo.
As always, interested in your opinion on these issue.
Cheers,
EH HEH!
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