Why is the BBC so against crypto...?
O.K. So there's been a lot of negative events in the cryptosphere over the last couple of years, most notably the FTX debacle.
However it's not all doom and gloom, especially not recently with the SEC seemingly moving towards approving several BTC ETFs.
And let's not forget that despite events such as FTX the BTC price has doubled in 2023, which suggests there is firm demand for it.
There's also countless small-wins along the way, with tokens such as RUNE (to pick just one example) seeing steady development and providing hodlers with some very decent returns over the years.
The BBC's crypto narrative is SO negative!
HOWEVER, the BBC seems DETERMINED to stick with an extremely negative crypto narrative...
If you type in 'BBC crypto' to Google this is what you get....
- 6/8 articles related to crypto crimes.
- 2/8 are what you might call factual.
The news is so biased and so thin there's even two repeats - two on the Binance story and two on the Sam-Bankman Fried story.
So at a glance you get the impression that crypto is fundamentally tied in with scams and illegal activity.
In fairness if you read through the 'NFT' article it provides a couple of case studies of people who used to be making a living out of selling NFTs, but have had to get their regular jobs back in the bear market....
But the tone is still negative.... personally the case of one woman having been able to take a couple of years out of work and sell NFT artwork for thousands of dollars, that is a massive win IMO, and as she said, she budgeted for a downturn and never expected the last bull-run to last.
But not even a sniff of the potential ETFs or the recent doubling in price of BTC this year on the mainstream BBC news...
They definitely have an anti-crypto bias, only reporting on the negatives and spinning what I regard as small success stories as crazy individuals whose time has come and gone!
Why the negative narrative...
Partly we can put this down to news as usual. Negativity and big events sell, especially when you can personalise them.
However I think there's more going on here. The BBC probably has an agenda to deliberately avoid reporting positive crypto news. I can easily imagine the execs seeing it as their public duty to NOT encourage what they would perceive as 'risky' investments.
Probably to the execs putting out an article outlining the doubling of the BTC price in 2023 and the possible approval of BTC ETFs could be interpreted as encouraging people to adopt crypto currency, which would be akin to encouraging people to gamble in the eyes of the mainstream, and defo against the Beeb's public service ethos.
So I am not surprised there is no balance in their news reporting, it's just safter to carry on spreading the FUD.
More for the rest of us, I geuss!
Well, perhaps, that is the point of view they saw it so they think crypto is causing more harm than good. Or probably, they are being sponsored for it.
I'm sure it's just good old BBC caution!
I used to have a very high opinion of the BBCs' journalistic integrity. While still one of the better outlets, I have found them to be rather partisan at times and obviously following the "party line" at the expense of honesty
I suppose it shouldn't come as a surprise, after all they are the mouthpiece of the state, whatever way you want to dress it up.
I guess the powers that be are following instructions on this topic.
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It's due to hit 50k soon, that may make the news and start a frenzy (again).
A lot of the media seems anti-crypto, but then so are a lot of people online. I see plenty of that on Mastodon. We need some reporting of the positive stories such as the boreholes provided in Ghana from Hive funding and the communities in places like Venezuela who are building new economies. I don't think Hive has had much mainstream coverage. Steemit got into a few things like Rolling Stone, but they may have had a marketing team back then.
We know there is plenty of scammy crypto stuff going on, so need to balance that out.
Didn't read; just replying to the title:
The big constitutional investors are buying up BTC from the markets and don't want private people to get in at the current prices, so their agents broadcast wrong information to the public.
Not sure that level of conspiracy applies to the BEEB, I think they're too out of the loop! Just scared!
They are just writing about what their sources tell them.
Of course they aren't in on it and that corrupt. They are just stupid.
This is very funny to me. They are basically misleading people. Are we gambling here? Fortunately nowadays a lot of people are doing very detailed research.
I think they probably just see it as glorified gambling!
If you replaced the BBC with *Der Spiegel8, or any other mainstream news outlet I am familiar with, no matter the country or their position on the political spectrum, your post would still remain spot on. Clearly, the mainstream news (and those behind them) do not want us to be interested in cryptos. Not only that, but they don't care employing techniques that previously would have discredited them as decent journalists.
This is what journalism has gotten to: At best, it has become a concerned nanny for the ultimately ignorant and irresponsible public, who can't be trusted with making their own decisions, or even forming their own opinions. At worst, there are some sinister ulterior motives behind this trend, which would get you labeled as a conspiracy nut for even mentioning them.
When I was growing up, it was obvious that all politicians lied, but at least you could get an idea of what's behind their lies by reading the news across the spectrum. These days, forget it. If anything offers an alternative perspective, it is immediately tossed into the right-extremist bin, not to be looked at any further. A truly concerning tendency, that I believe is not talked about enough.
Depressing, but I agree, news is for analysing and criticising, not for getting information!