How Bitcoin can Win the Media War

Cointelegraph.com features Torsten Hoffmann, the German-Australian producer and director of the documentary “The End of Money As We Know It”. His article on what the Bitcoin community can do to improve the image of the cryptocurrency recommends a pragmatic approach:

When you first started your journey into the rabbit hole that is crypto currencies you were probably skeptical. Typically it takes weeks or months to fully grasp the entire concept.

In my first job as a financial journalist I had about 45 minutes to identify, research, summarize, write and publish a ‘story’. There is no way that a writer at a local newspaper or a news editor from a TV broadcaster can intelligibly write a Bitcoin article in between twenty other pieces on the same day.

This is why the knee-jerk reaction from most media is to always jump on the juicy stories that are easy to write with clear bad-guy, good-guy characters: The big scandals, the most recent arrests or legal action, the major thefts and scams, and isn’t it true that Bitcoin’s main use is drugs and gambling anyway?

As Matt Miller from Bloomberg Television recently told me in New York in an interview “These are the fun stories. We aren’t telling the stories that aren’t scandalous. That’s not what we do. No one would tune in.” Remember this is coming from a media company with a highly finance-savvy audience.

Now imagine how a regular journalist (without a background in economics, finance, cryptography, and technology) would embark on his or her research. The first Google result is the Wikipedia article.

After struggling to understand the concept of the blockchain, distributed trust, peer-to-peer, mining, etc. It is not long before you scroll down to the chapter about Criminal Activity – what a treasure trove of juicy stories.

It’s impossible to change the behavioral patterns of most journalists, so what can the Bitcoin community do to improve the image of the cryptocurrency? Get people to use Bitcoin and have a sense of humor:

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