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Bitcoins / Breaking News

Why Are So Many Reluctant To Do The Bitcoin Dance?

First of all, what is the Bitcoin Dance? Honestly, this isn’t a social phenomena, it’s a term we have just made up. Let’s hope that this takes off though, perhaps Bitcoin Dance will enter the dictionary and our name will be printed next to it?

Who knows?

The Bitcoin Dance refers to getting on the Bitcoin hype train. So, it’s not Bitcoin investment as such, the Bitcoin Dance is simply accepting and recognising Bitcoin.

Bitcoin is a cryptocurrency with a market capitalisation (at the time of writing) at $114,821,515,659.00 yet still, entire communities are refusing to accept that it exists. Obviously, cryptocurrency adoption will eventually see a tipping point where the majority then begins to accept Bitcoin, until then though, we are seeing people actively block Bitcoin out of their lives, why is this happening and why can’t they just do the Bitcoin Dance already?

To us, mainstream media seems to be the problem. The masses tend to only receive exposure to cryptocurrency news via mainstream news headlines, the majority of these headlines mediate Bitcoin in a negative light. They make the Bitcoin Dance look very unattractive. Take these examples for instance:

Bitcoin Price Plunges After Cryptocurrency Exchange is Hacked
https://www.theguardian.com/technology/2018/jun/11/bitcoin-price-cryptocurrency-hacked-south-korea-coincheck

A New Addiction: Could You Be Hooked on Bitcoin
https://www.bbc.co.uk/news/uk-scotland-44289772?intlink_from_url=https://www.bbc.co.uk/news/topics/c734j90em14t/bitcoin&link_location=live-reporting-story

People Are Using Bitcoin’s System To Share Child Pornography, Researchers Say
https://www.washingtonpost.com/news/the-switch/wp/2018/03/22/people-are-using-bitcoins-system-to-share-child-pornography/?noredirect=on&utm_term=.a300356a20d9

Bitcoin Is Down 50 Percent, And That’s Not Nearly The Worst Of It
http://www.abc.net.au/news/2018-06-18/the-biggest-cryptocurrencies-are-having-a-really-bad-year/9869314

Bitcoin Can Help Terrorists Secretly Fund Their Deadly Attacks
http://www.foxnews.com/opinion/2018/01/09/bitcoin-can-help-terrorists-secretly-fund-their-deadly-attacks.html

See what I mean?

Mainstream news seem to really push the notion that Bitcoin is a bad thing. With this in mind, it’s pretty easy to see why communities are reluctant to do the Bitcoin Dance so to speak.

As adoption comes to the fore and as cryptocurrency becomes more powerful (through the emergence of blockchain technology) then mainstream news outlets will be forced to mediate Bitcoin and other cryptocurrencies in a more positive light. Once this happens, perhaps finally, we’ll see everyone doing the Bitcoin Dance?


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Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.