Bitcoin has been getting a lot of mainstream media attention over the past week, yet most news outlets still fair to grasp the concept of this popular cryptocurrency. A recent article by the BBC shows how the focus is on the wrong aspects yet again. BBC Lacks Bitcoin Education
The article on the BBC website starts out by asking the question whether or not Bitcoin still matters. This is not a question anyone should be asking themselves, as Bitcoin does matter to a lot of people, just like it always had. Moreover, the validity of this cryptocurrency has never diminished, despite what the media may want people to believe.
Moreover, the BBC determines the success of Bitcoin will hinge on whether or not blockchain technology will make a significant impact. The cryptocurrency has been doing equally as well as the underpinning technology, and very few industries are embracing the Bitcoin blockchain itself. The financial world, for example, is trying to privatize the blockchain to make it suit their liking, rather than value the decentralized nature of the Bitcoin technology itself.
Moreover, there is a mention of how Bitcoin itself is struggling because of “strains on its technology’. Although the block size debate has dragged on for quite some time, there is no reason to believe this will have any adverse effect on Bitcoin. In fact, the community has come out stronger because of it, as some of the primary concerns are being addressed in a constructive manner.
What makes the article by the BBC even more ludicrous is how they state the “digital currency is coming to its limit faster than many expected”. First of all, the Bitcoin limit has never been a weakness, as the controlled supply is one of the strengths of this cryptocurrency. Having a fixed supply is […]
