‘Coordinated media FUD’ about Bitcoin from Financial Times to Fox Business

In light of Bitcoin’s recent price rally, mainstream media has started to cover the industry again, but remain unconvinced it’s a true store of value.

Mainstream media outlets are finally reporting on the recent rally that saw Bitcoin creep close to its all-time high — but some commentators appear to be determined to spread FUD.

Two articles released within hours of each other earlier today — a Financial Times editorial titled “The elusive promise of Bitcoin,” and a Fox Business piece called “Bitcoin no match for gold in coronavirus world” — state that Bitcoin Up does not live up to its promise as a store of value.

There appears to be coordinated media FUD aimed at #bitcoin today – 2 articles in major media. As bitcoin succeeds, expect this FUD to intensify, well beyond reporting.

— Timothy Peterson (@nsquaredcrypto) November 19, 2020

The Financial Times focused on Bitcoin’s volatility, stating that its “status as a safe haven is more theoretical than anything else.” The editorial claims “there are no fundamentals on which to base a judgment of Bitcoin’s value. Its current price just reflects what people are willing to spend on it.”

The piece wasn’t all bad, pointing out that a major factor in Bitcoin’s recent rise was mainstream adoption, noting options on Chicago Mercantile Exchange and PayPal offering crypto sales to all U.S. residents. It goes on to say that Bitcoin’s price may continue to rise due to “the weakening of the dollar” and suggests that it is “because the Federal Reserve has done such a good job meeting the world’s need for dollars that investors feel comfortable taking a punt on Bitcoin,” concluding that:

“If so, cryptocurrency advocates have the central bank to thank for their recent successes.”

Fox Business also noted Bitcoin’s price rise with apparent alarm, and set about warning its readers away from investing in the cryptocurrency by rounding up Bitcoin haters including gold bug Peter Schiff, Roubini Macro Associates CEO Nouriel Roubini, and Bridgewater Associates founder Ray Dalio. The piece quotes Schiff saying it’s “nonsense” to think Bitcoin is better than gold:

“There’s no real use for Bitcoin. All you can do with Bitcoin once you buy it is sell it, but you need somebody else to buy it from you. It’s a massive pump-and-dump.”

Fox quoted Roubini as stating that “crypto is the mother or father of all scams and bubbles,” while Dalio’s past criticisms of volatility and lack of buyer protections were also cited.

The article did not mention that both Roubini and Dalio have recently softened their views towards Bitcoin. Last week, Roubini said the cryptocurrency might be a “partial store of value” because of its limited supply. Earlier this week, Dalio admitted he “might be missing something” about Bitcoin and “would love to be corrected.”

However, there was some support for Bitcoin in the media from an unexpected party — China, a country well-known for its tight stance restricting the digital asset. Chinese state media channel CCTV covered the recent price rally on national TV this week, saying that Bitcoin’s network, development and investment ecosystem are more advanced compared to the 2017 bull market.

CCTV, China’s Official TV Channel: #Bitcoin price surpasses $17.5k, up 70% in less than 50 days. Compared with 2017’s bull market, bitcoin’s network, development and investment eco-system are now far better. The recent rise is driven by institutional funds.

Bitcoin alcança status de celebridade do Game of Thrones star

  • Bitcoin alcança o status de celebridade do Game of Thrones star Maisie Williams, que na HBO jogou com Arya Stark.
  • Senhorita. Williams comprou alguma Bitcoin depois de perguntar a seus 2 milhões de seguidores no Twitter se ela deveria dar o mergulho.
  • No poste do Twitter, 900.000 fãs votaram quem pode ou não ter sido o próprio comprador do criptograma.

Bitcoin alcança status de celebridade do Game of Thrones star

Bitcoin alcança o status de celebridade do Game of Thrones star Maisie Williams, que na HBO jogou com Arya Stark. Senhorita. Williams comprou parte da moeda criptográfica depois de perguntar a seus 2 milhões de seguidores no Twitter se ela deveria dar o mergulho.

No poste do Twitter, 900.000 fãs votaram quem pode ou não ter sido o próprio comprador da criptocracia. O pólo não a orientava para o criptograma porque 53,4% das pessoas que votaram disseram que ela não deveria comprar Bitcoin.

O laço estreito na votação e os comentários proeminentes do posto devem tê-la convencido a dar o mergulho porque ela o fez. Elon Musk, CEO da Tesla, comentou sobre o post no Twitter dos atores, encorajando-a a usar criptografia usando as referências do Jogo dos Tronos. Ela respondeu perguntando como estava indo o projeto de seu concorrente, a “Origem Azul”.

A Origem Azul é do CEO da Amazônia Jeff Bezos, concorrente do SpaceX.

Outra figura proeminente, o CEO da Galaxy Digital e poderoso comprador de moedas digitais, Mike Novogratz, entrou em detalhes graves sobre os benefícios da Bitcoin Up. O CEO exclamou como ele comprou a BTC quando ela valia $15.800, e está subindo e subindo.

O Sr. Novogratz explicou como agora era um excelente momento para comprar a Bitcoin porque há muito pouca oferta, mas muita demanda, empurrando o preço para cima. Com nomes tão grandes orientando-a em direção à Bitcoin, não é surpresa que ela tenha mergulhado.

Hacker gang announces end to activities, but experts warn of new groups

Maze hacker group, which attacked LG and a research group against the coronavirus, published a statement on Dark Web.

Hacker gang announces end to activities, but experts warn of new groupsNOTÍCIAS

One of the largest ransomware groups, the hacker group Maze, announced on Dark Web the end of its activities, according to the Portuguese publication Exame Informática.

The group had published a communiqué – full of spelling mistakes – in which it announced the decision to close its activities.

The group was one of the most active among hacker attacks, having successfully hacked this year a vaccine and medicine research group against the coronavirus, in addition to the systems of the technology giant LG.

With the systems locked, the group called for rescue to unlock the files, usually in cryptomachs. If payment was not made, hackers would publish the files in a Dark Web repository, the same one that today displays the group’s communiqué.

The article explains the hackers’ actions:

“Initially, Maze hackers used exploitative kits and spam campaigns to target victims, but then went on to exploit known security vulnerabilities to get their way. Another tactic was to attack virtual private networks (VPNs) and also remote computer access servers (RDPs) to reach the networks of the organisations they were targeting”.

Despite the announcement of an end to their attacks, experts doubt that all members will now be “retired” from their criminal behaviour. Brett Callow, Emsisoft analyst, told TechCrunch:

“Maze is run as a network of affiliates, so partners in crime may not comply with the ‘reform’ now announced and choose to regroup and come up under another name”.

Another analyst, Jeremy Kennely of FireEye, agrees that hackers should come under new names, commanding other attacks of the same kind:

“We believe with a high degree of certainty that many of the individuals and groups who have collaborated with the Maze ransomware service will continue to command similar operations – either working with existing ransomware services or supporting new operations in the future”.