CNBC Airs ‘Bitcoin: Boom or Bust’ Documentary As Crypto Community Reacts
As CNBC airs its new crypto documentary 'Bitcoin: Boom or Bust', the crypto community is outraged over the trailer and the initial image portrayed.
Popular Wall Street news outlet, CNBC, announced that it will be rolling out a Bitcoin documentary. The crypto community, however, was not so pleased with the image portrayed in the short trailer.
It’s “HODL” and it’s the most important acronym in the bitcoin vernacular. We explore the concept in “Bitcoin: Boom or Bust,” premiering Monday, August 27 at 6 p.m. EST on CNBC. #BitcoinBoomOrBust #CNBCCrypto https://t.co/vgvshklCB0 pic.twitter.com/rV1N2kLCzy
— CNBC (@CNBC) August 25, 2018
CNBC’S “Bitcoin Boom or Bust” Documentary
On Saturday, August 25, the American news outlet announced that it would be airing a documentary that would “explore the world of bitcoin.”
CNBC revealed the name of the documentary to be “Bitcoin: Boom or Bust”. CNBC also unveiled a 90-second trailer, which was heavily criticized by the crypto community.
Prior to this, CNBC wrote the following in an official press release regarding the description of the documentary:
“This documentary is an eye-opening journey that proves to be as informative as it is entertaining and unexpected. Lee offers viewers a rare look inside the wild world of bitcoin, uncovering the unusual landscape and cast of characters surrounding it, and ultimately, allowing viewers to take their own side in the crypto craze.”
The one-hour long documentary, reported by CNBC’s Melissa Lee, will explore not only the good side of Bitcoin but would also focus on the bad and unspoken sides.
Melissa Lee reports that the “Bitcoin Boom or Bust” employs pop culture, captivating imagery and a hip-hop score as it looks to take an in-depth look into the world of cryptocurrencies.
CNBC has promised that this original documentary would bring into consideration a wide range of fascinating characters, each with their own passionate argument either for or against Bitcoin.
CNBC faces backlash over the documentary
Similar to previous coverages of cryptocurrencies by the mainstream media outlet, CNBC’s upcoming Bitcoin documentary has drawn criticism towards the American firm.
Rather than build hype and enthusiasm in the crypto community as is common by similar announcements, crypto enthusiasts, analysts, and investors have openly taken shots about the documentary.
The 90-second long trailer released by CNBC to announce the Bitcoin centric documentary has been the bone of contention.
Just anyone who has been around the crypto community for a little time would understand HOLD is a term that has been immortalized in the heart of the cryptocurrency community.
Ricardo Spagni, lead developer at Monero has corrected this by stating that “HODL is not an acronym, but rather an insignificant, yet hilarious typo that gained a cult following in the crypto community following late-2013.”
The Crypto Kid
The Bitcoin centric documentary brings together different individuals to explore the world of Bitcoin, one of such individual is a Bitcoin diehard, dubbed “Crypto Kid.”
Crypto Kid can be described as a die-hard crypto enthusiast who reportedly sold all he has and lives in a treehouse so that he can put everything into cryptocurrency.
While there is nothing wrong with this individual, many have criticized CNBC’s choice.
If actually the “Bitcoin Boom or Bust” documentary is to be informative, or fully explore the world of Bitcoin, a more experienced cryptocurrency personality would have been chosen by the news outlet.
While the criticism about, the CNBC documentary on Bitcoin would be aired live by the news outlet on Monday, August 27th at 6 pm ET.