BBC once again shows its ignorance and prejudice against Bitcoin

In the past week, Bitcoin has become the focus of major media attention due to Wright's sudden announcement that he is the creator of Bitcoin. Although most media have caught the concept of Bitcoin fairly, a recent BBC article once again shows their misplaced attention to Bitcoin.

BBC lacks Bitcoin education

BBC is the abbreviation of British Broadcasting Corporation. As a world-class news broadcasting company, BBC has a high authority in the field of news media. However, this is difficult to show in Bitcoin.

The article, published on the BBC website, begins by asking whether Bitcoin is still valuable. Everyone knows that no one should ask themselves that question, because Bitcoin is as important to many people as ever. In addition, the effectiveness of this cryptocurrency has never diminished.

In addition, the BBC firmly believes that the success of Bitcoin depends on whether blockchain technology can have a huge impact. This cryptocurrency has always done the same thing as its underlying technology, and few companies will embrace the Bitcoin blockchain itself. For example, in the financial sector, there have been attempts to privatize the blockchain to suit their tastes, rather than focusing on the decentralized nature of the Bitcoin blockchain itself.

Furthermore, the article mentions that Bitcoin is “struggling” due to the pressure on the underlying technology. Although the block size debate has been going on for a long time, there is no reason to believe that it has had any adverse impact on Bitcoin. In fact, this debate makes the community stronger because some major issues are being resolved in a constructive way during the debate.

Even more ridiculous, the BBC claims that "the digital currency is reaching its limit much faster than expected". First, Bitcoin's limit has never been its weakness, on the contrary, Bitcoin's controllable supply is one of its strengths. Second, the Bitcoin halving will begin in the next few weeks, after which the number of new Bitcoins generated each day will be smaller. As the number of Bitcoins mined daily is halved, it will take longer to add 1 million new coins to the network. This is in stark contrast to the BBC's statement, because the Bitcoin limit is simply impossible to reach in the short term.

Andreas M Antonopoulos tweeted:

This article is absolutely riddled with technical errors. The BBC fact check is a joke.

Finally, the BBC argues that Bitcoin should be regulated and how cryptocurrencies can thrive in an unstable economy. The fact is that Bitcoin can thrive anywhere in the world, regardless of the current economic situation. In addition, the article also mentions that "more users will have to join various blockchains," such as the Ethereum blockchain. The BBC previously called these blockchains just blind imitators of the Bitcoin blockchain.