Re:Bitcoin is a Bubble
by sschueller on Friday December 29, 2017 @10:48AM
(#16030001)
I wonder how many journalists don't understand what they are talking about and we think they do. I stopped reading the local paper after a tech article in my field was so wrong that I doubt other articles in fields I don't know anything about are factually correct.
"the Gell-Mann Amnesia effect is as follows. You open the newspaper to an article on some subject you know well. In Murray's case, physics. In mine, show business. You read the article and see the journalist has absolutely no understanding of either the facts or the issues. Often, the article is so wrong it actually presents the story backward—reversing cause and effect. I call these the "wet streets cause rain" stories. Paper's full of them. In any case, you read with exasperation or amusement the multiple errors in a story, and then turn the page to national or international affairs, and read as if the rest of the newspaper was somehow more accurate about Palestine than the baloney you just read. You turn the page, and forget what you know."
Michael Crichton
> To explain: essentially, “blocks” are segregated, vast bundles of data in permanent communication with each other so that each block knows what the content is in the rest of the chain. However, only the owner of a particular block has the digital key to access it.
I know journalists need to simplify the technology, but those simplifications should basically be correct. This is just... wrong.