We all like money. PERIOD.
2013 has been the year of BitCoins. Ever since the value of BitCoins started skyrocketing, it has been receiving too much of attention from the Media causing it’s value to raise even more.
The demand for BitCoins has been huge in the market. It is no longer just a tool for the hobbyists. Of course, there is this hope for the newbies to mine and get rich or that the value of BitCoins would substantially increase in a short period.
The media has been the biggest reason for the fame BitCoin has received. Every news article about BitCoins is like a hot cake.
Just this week, App.net a popular subscription based Micro-Blogging site built a new service Backer which is a Kickstarter for Software Projects. But, the news that got the most traction was that they agreed to allow BitCoins as a mode of payment if they could raise 10BTC(Around $8000 at the time of writing this article). Looking back at app.net, it was born out of a $800,000 crowdfunding campaign. Also, the website is a freemium service. Clearly, they don’t need that $8000 to allow BitCoins.
A certain University of Nicosia, a private School from Republic Of Cyprus got famous overnight. Reason: They started accepting BitCoins as a mode of payment for the Tuition Fee. They were featured in lots of Blogs and Newspapers worldwide.
This trend of building a huge hype around BitCoins is going to weaken the Crypto Currency over a longer period of time.
But, if you’re a brand that needs instant fame, just find a way to include BitCoins in whatever you do. Voila, you’re featured by every news source in the world.
What is your take on this subject? Do let us know in the comments section below.