Bitcoin in U.S. Media
Bitcoin is often represented in a negative light in the United States or described as a bubble and scam. Click the button to find out whyU.S. Media
Bitcoin in Developing Nations Media
The representation of bitcoin in different countries shows the stark contrasts between developed and emerging marketsForeign Media
Who Funds Media?
An attempt to try and uncover who is behind negatively written articles in U.S. MediaMedia Funding
Low Transaction Costs
When there is a currency transaction between parties there is often times a cost associated with this event. The bank takes a percentage of the transaction as a fee for processing the transaction. With bitcoin, these transactions are processed entirely for free and the only transaction fee incurred is the fee for changing your current currency (USD, Yen, Euros) for bitcoin.
There is nobody who has control over bitcoin or the blockchain which it runs on. This allows for zero invovlement from government and other large agencies. Bitcoin and Blockchain are not companies and seek no profit, they simply want to provide a way to transact without the implications of a government or central agency.
Once you have bitcoin, any transaction is untraceble. Large amount of money can be moved with the only people knowing being the two people iinvolved in the transaction. There is no paper trail or way to trace transactions. This raises some concerns about bitcoin being used for illegal activity
Bitcoin can be accessed using any computer or phone. There is no cost for holding an account or making a transaction. Developing nations who do not have banks or a steady currency can use bitcoin to transaction across the globe at the touch of a butto
M-PESA Helps Impoverished Kenyans
Click on the hyperlink to access a 60 Minutes documentary about M-PESA an online currency that has helped Kenyans interact seamlessly. M-PESA benefits all of the citizens especially those of poorer economic standing. It allows farmers with no acces to banks the ability to pay for fresh clean water, solar power, and even livestock with the click of a button.M-PESA documentary
U.S. Media Representation
Looking at these different headlines about bitcoin, it is very apparent that the media portrays bitcoin in a negative light, warning investors to stay away and keep their money invested safely with big investment banks and stock brokers. What is interesting is that a lot of these large banks want the underlying blockchain technology that makes up bitcoin. Blockchain is very difficult to hack and would allow big banks to increase their security measures. These banks are using U.S. media to try and change the views of bitcoin and get people to divest. If people pull their money out of bitcoin, bitcoin will become valueless and they will be able to snatch up blockchain technology for themselves.
Looking at all the different headlines, one thing is apparent. The people who are quoted as “experts” all have strong ties to the central banking system and large financial service firms. The people quoted are Joseph Stiglitz, Michael Williams, Mike Novogratz, and Ben Bernake all have or have had major ties to financial institutions.
These large banking firms are using the media to try and take blockchain for their own profit. They want to implement blockchain into their own systems and want to crash bitcoin before it becomes strongly imbedded in American society. If more Americans pull their money out of financial institutions and use it in blockchain, big banks become useless and no longer become profitable as holding a bitcoin account and investing in bitcoin is practically free compared to the fees and commissions charged by U.S. Banks.
These institutions have a tremendous amount of reach and capital. They are able to fund a lot of these newpapers and have some sort of control over what they write and publish about. The are using the American media to shape investor opinions. Click the learn more button to see proof of these institutions controlling media sources.