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.

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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.

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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.

About The Author

Managing Editor

Managing Editor at Techzei.

4 Responses

  1. Jahfree

    Have YOU ever actually used a bitcoin?? Have you ever sent tens of thousands of dollars for FREE??…to anyone, anywhere on earth?!…. Have you ever done this on a holiday, or weekend or after a bank is closed?? I didn’t think so… because if you did, you would actually understand why people use it.

    People use to:

    write letters, pay for stamps, goto post office, and WAIT for it to arrive ………….NOW THEY EMAIL!!!
    Buy a book, newspapers, magazine, etc……………………………………………………NOW THEY HAVE IT ALL ON ONE KINDLE ETC
    Buy film, PAY to get developed, WAIT,……………………………………………………….NOW THEY UPLOAD THERE OWN PHOTOS

    I could go on and on but i think you get the point!

    BEFORE BITCOIN—->wait in line at the bank, PAY FEES! only open 8-6 and if your lucky 9-noon on sat. withdrawal limits, WAITING for checks to cash, credit card fees, interest, requirements for certain accounts… gotta use debit card # of times or account is NOT free… yuck!!!!!!

    ………………………………………….NOW THEY PAY NO FEES, INSTANT, 24/7/365/ Global, Buy online, sell online, etc, etc etc…..

    The world is digital… the blog you use, the phones, email, cameras, everything…… why are you surprised now that money is digital????

    Reply
    • Vignesh Selvasundar

      I really wish you knew to read better. My point was the word BitCoin is being used to promote things because every news wants to cover it. This gives people an opportunity to use.

      Reply
      • Jahfree

        Your title is condescending toward bitcoin. A better title would have been. “Bitcoin is better Marketing”

        The word bitcoin is being used, because bitcoin is BEING USED! media coverage is just ANOTHER benefit of bitcoin

        After reading your article, I felt as if you don’t understand why smart businesses are accepting it. Its not just a fancy new word…. its helpful, useful, and the users are dedicated to its success. Yes, media covers it but if you really think thats the only reason why business are accepting it, thats just wrong. Why the University? Because most bit coiners are young, and computer savvy. Only makes sense to accept bitcoins.

        I bet when the internet came out, reporters said. the only reason why the word ‘internet’ is used is because it gets their business news coverage. Not because it was helpful, useful, and changed the world.

  2. BitCoinDarling (@BitCoinDarling)

    receiving too much of attention from the Media ? whatever that means – main stream media rarely spells the real background stories and details needed to make an educated decision if Bitcoin is right for you – instead they like to focus on “shutdowns of Silk Road” and other stuff to actually misinform people, sigh – and HURRAY for what JAHfree just wrote.

    the more companies and businesses will use and accept bitcoin the better – so for that I think there is never “too much attention from the Media” – right now it is an additional marketing boost if you accept bitcoin, but soon it will be totally normal for most of us.

    Yours, Kevin “Bitcoin, Darling!” Miller

    Reply

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