Bitcoin has always been a favourite target for the mainstream media. In fact, they have constantly attacked bitcoin and Bitcoin Maximalists are not quite happy about it. It seems that the mainstream media houses have a strong dislike for the industry. However, their hatred generally springs from thier inability to understand the workings of bitcoin.
In fact, Yvonne Taylor, a well-known environmentalist, has repeatedly showered hatred on the industry and has also been quoted by various media houses. There are many such other instances. However, a recent article published in the NY Times seems to walk on a different path. In fact, the newspaper took interviews with notable people from the bitcoin industry.
However, what is more, striking is that they have quoted thier words in the article, without even slightly disfiguring them. The article is titled as “The Crypto Market Crashed. They’re Still Buying Bitcoin.” It is a feature of bitcoin maximalism. Interestingly, all the quotes used in the article are about the supremacy of bitcoin. If you wish to learn more about the report, keep reading the article.
The NY Times Article
The article starts with the reference to Cory Klippsten of Swan Bitcoin. Cory in a famous statement denounced the vulnerability and deficiencies of Celsius and Terra. In fact, both these projects later crashed and thereby ruined the lives of many who made investments. The NY Times article begins by stating Cory’s firm belief in the power of bitcoin to transform the global economy, in spite of recurrent reports of fraud in the crypto industry.
However, soon enough the article brings forth the inaccuracies and the inability of the writers to understand the complex subjects of cryptocurrency and Bitcoins. They stated that the bitcoin maximalists have recently started denouncing other cryptocurrencies. However, the truth is that they have frequently denounced other cryptocurrencies from the beginning.
In fact, they do this in order to protect people from falling prey to the likes of Celsius and Terra. However, the maximalists also face repeated criticisms for that. Therefore, the NY Times report once again shows the general inability of the media houses to understand the complex world of cryptocurrencies.
The NY Times Article Quotes Notable Bitcoin Maximalists
The article has in fact quoted some eminent Bitcoin maximalists. They have quoted Cory Klippsten as predicting the future of the ‘non-bitcoin’ cryptocurrencies. In the quoted extract, Cory claims that the ‘non-bitcoin’ ones will have to merge with banks for their survival.
Apart from this, a quote by the notable bitcoin developer and thought leader, Jimmy Song has made it to the article. In that quote, Jimmy explains the difference between Bitcoin and other cryptocurrencies. The article then goes on to include a quote by the chief executive of MicroStrategy, Michael Saylor, where he explains the difficulties involved in becoming a Bitcoin maximalist.
The article further made space for a quote by Davis Zell of the Bitcoin Policy Institute. You may follow the link given below to read the original article by NY Times:
In spite of quoting some notable Bitcoin maximalists, the NY Times Report also attacked the alternate currency in the usual manner. However, the article also suggests that this might be the beginning of the changing attitude of media houses about Bitcoins. Therefore, it seems to be a ray of hope.