Newsweek Cover Story About Bitcoin Reminds Me of Another Newsweek Cover Story Involving Another Virtual Currency
Hey, Newsweek has a cover story allegedly revealing the mysterious identity of Bitcoin's creator. It's a very interesting story to be sure, but by putting it on the cover, Newsweek is strongly implying that Bitcoin is also, well, one of the most important news stories of the week. As the article claims, Bitcoin is "the world's most wildly successful digital currency".
Hmm, where I did read a similar story with similar claims a few years ago? Oh right:
Just as Google sexed up the way we search, and instant messaging altered the way we interact, Second Life is fast becoming the next red-hot tool on the Internet... In the past year, membership has soared to more than 8 million users — 2 million having signed on in the last two months alone.
Memo to Newsweek: There were never 8 million "users" of Second Life (as opposed to registrations), and the actual number at the time this 2007 article came out was closer to 300,000. And Bitcoin is not the world's most wildly successful digital currency. That distinction belongs to the digital currency of Second Life.
And so the new hype cycle follows the same pattern as the old one (as it's wont to do). And I continue to feel like I'm taking crazy pills.
Same press who dismiss Second Life as niche now hype Bitcoin which hasn't grown its userbase & still smaller than SL. #crazypills— Wagner James Au (@slhamlet) March 6, 2014
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