Looking through bitcoin related news, as I frequently do; it seems that stories fall into one of four categories most of the time. There are those that tell of bitcoin’s role in some criminal enterprise, those that detail the latest business seeking to use the idea behind the blockchain for some non-bitcoin related purpose, and those that report the latest attempts of governments and monetary authorities to come to terms with and regulate the digital currency.
Finally, there are a few stories that actually report on bitcoin’s increasing acceptance and influence.
One of the problems that the currency has is that stories in the first category translate much better to the mainstream media than the others. Crime is sensational and the new and unknown is scary, whereas the details of the blockchain and regulation don’t lend themselves to 600 words or less.
That leads to the kind of situation I encountered this weekend. I was at a friend’s house and somehow we got around to the fact that I often write on the subject of bitcoin in these pages. That prompted me to ask the friend’s teenage children who were in the room what they knew about the subject. Both offered some version