Post
Topic
Board Bitcoin Discussion
Re: CNN’s Morgan Spurlock ‘Survives on Bitcoin’ for a Week
by
keelba
on 06/03/2015, 23:17:23 UTC
The show was interesting to see from a lay person's perspective and Morgan is certainly that. He didn't really say anything wrong and did a decent job of simplfying things for the people. He got really excited and giddy when he made his first transaction but the thing is, he didn't really understand why. He made a digital transaction. Woohoo!! Apple Pay, Google Wallet, and dozens of other apps out there will let you do that. He never really touched on, nor understood, what makes Bitcoin different and why it is so cool.

He doesn't seem to understand, or at least talk about, the two biggest selling points that make Bitcoin vastly better for the end user: anonymity and decentralization. He did talk about being able to buy things on Silk Road but that's not what I mean by anonymity. Anonymity gives you the freedom of sending money to someone without fear that your personal identification could be stolen as a result of the transaction and used against you. You can send money to various merchants without some credit card company, or Apple, or Google, or Amazon, tracking every purchase you make and trying to figure out ways to use this personal information. Decentralization also frees you from getting your personal information stolen via a company hack but also prevents the inevitible corruption of centralized control of the currency.

There are, obviously, other benefits to Bitcoin and I think I remember him very quickly mentioning credit card fraud and merchant fees, things that merchants would definitely care about but the end user could not care less about.

I agree, it would be good if he ran the same concept for a show a year or two from now when things have changed some.