For those that follow me will know I’ve been away from Steemit for a while. I have been consumed with business and life stuff for a month or so but finally managing to find time to put my thought down onto the blockchain again.
Despite my absence, I have been reading away in the background and taking in everything that has been going on whilst keeping my witness server up to date so that I at least contribute the best way I can without creating content. However there has been one issue that has really pushed me to do another post. That issue is the main stream media and how they portray bitcoin and crypto currency in general.
Before I go into detail on explaining. Let me just show you a screenshot I took of the news surrounding bitcoin in general.
This is genuinely a screenshot from Google news in the UK of the top stories being discussed around that time. Take a quick look at the headlines, it’s all fear, doubt, price dropping, bye bye bitcoin, crypto crash. Out of all of the headlines shown at this time there is only one that puts bitcoin in a positive light (thankyou Tech Crunch!!) which touches on some of the realities of why Jamie Dimon would have it in his best interest to want bitcoin to fail.
Despite all this news going on. Myself and many others can see through the news. I can see the real intention of why the CEO of JP Morgan would want to make a statement of that sorts. When their investments are actively losing money directly to the crypto currency market it requires a strong source such as the CEO to make a statement of sorts to try to ensure their customers/ investors stay put and don’t move more of their money away.
Now I have been in marketing and specifically PR for a long time. I have built a company around building relationships with journalists to push news for clients. From this I also know how tough it can be to influence journalists if they don’t like the news you are offering. I have even done some PR for fintech companies around the crypto currency market and discussing the wonderful possibilities with block chain technology. It is my experience in this that has me stumped with this recent news.
I know that a lot of media sites love the positive news around crypto and blockchain tech. They understand it is a brand-new technology and they understand the capabilities of it. The understand it that much that I would argue it is a lot easiest to outreach that kind of news than in many other industries. Which again comes back to my point around I just don’t understand all the negativity around it.
Instead of media sites covering the incredible news around the tech and the fact that countries are actively working on regulating it properly so that it can thrive. Instead they go down the route of “Bitcoin is dead”, “Bye Bye Bitcoin” and “Crash!!” which only serves to freak out the average reader.
Despite my experience with the media this has forced me to go against the grain and to start thinking that somebody is massively influencing this and that someone really doesn’t want crypto to succeed. The amount of articles CNBC is pumping out as soon as the slightest bit of negative news hits crypto currency is astonishing.
Hence this has driven me to write this post. As soon as we see this kind of news, a huge chunk of the market disappears as people freak out. I cannot wait for the time when block chain is big enough that people trust the value in it even when there is doubt. I think the people who are trying to influence this news will inevitably fail as it has become too big too fast and we all just need to ride the chaos out.
So, if you are reading this and you’ve recently just got into crypto and seeing everything fall, please don’t worry. This has happened time and time again and bitcoin has been dead a hundred times over already. Things always return and continue growing. Things will be chaos whilst governments work out how to fit crypto in to their economies but I honestly think they are starting to realise that they cannot just ignore it and it’s not going away.
This is kind of a “Let’s get back into writing for Steem” post and I have a plan to write several more about other topics. For all of my following, thankyou for sticking with me and everyone who has voted for me as witness thankyou also. Depsite my absence everything is running smoothly (despite missing one block grr) and I will be posting updated on my contribution to marketing for Steem soon.