Lately I have seen a lot of negative news about Bitcoin in financial media. As we all know the financial media is mostly written by MBA types or the types that go for journalism degree. These folks are mostly about superficial things. In the case of MBA types, it suffices to say that they do not appreciate anything but money. In other words, an MBA type has no aesthetic sense for anything - in technology, or in art, etc. All they care about is money and how to use others who are less cunning than them for their own purpose.
For financial journalistic types, it is safer to say that one should not expect this type of folks to write about something completely revolutionary. They would write safe (as understood by their bosses) articles for their conservative readers. Also do not expect this type to be too deep in scientific subjects. The fact they went to journalism degree, after all, is mostly because they were not too good in hard sciences, math or computer science.
There is so much FUD spread by these people on financial media that it is unfathomable. Bitcoin went from 1000 to 17000 in a matter of 11 months, completely ignoring these folks. Still they would not take heed and do their due diligence. Before writing about bitcoin, they should read about cryptography, databases, digital currencies and try to envision a future without banking intermediaries.
My theory is that Bitcoin is an asset class for a crazy world. A world where arrogance, overconfidence and hubris of the world leaders -- running financial economies with infinitely printable fiat money -- have no bound. It is good to have a few bitcoins in your portfolio for the day when something blows up in the financial world somewhere. Given the way the money is being debased by the central banks, the possibility of a blow-up in the financial world is not too far fetched.
For financial journalistic types, it is safer to say that one should not expect this type of folks to write about something completely revolutionary. They would write safe (as understood by their bosses) articles for their conservative readers. Also do not expect this type to be too deep in scientific subjects. The fact they went to journalism degree, after all, is mostly because they were not too good in hard sciences, math or computer science.
There is so much FUD spread by these people on financial media that it is unfathomable. Bitcoin went from 1000 to 17000 in a matter of 11 months, completely ignoring these folks. Still they would not take heed and do their due diligence. Before writing about bitcoin, they should read about cryptography, databases, digital currencies and try to envision a future without banking intermediaries.
My theory is that Bitcoin is an asset class for a crazy world. A world where arrogance, overconfidence and hubris of the world leaders -- running financial economies with infinitely printable fiat money -- have no bound. It is good to have a few bitcoins in your portfolio for the day when something blows up in the financial world somewhere. Given the way the money is being debased by the central banks, the possibility of a blow-up in the financial world is not too far fetched.
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