Netflix ‘Explained’ Falsely Claims Bitcoin is Mostly Spent on Illegal Services

[Habiba Aziz]

Excerpt from CCN article:

In collaboration with Vox, a US-based media company that runs a popular YouTube channel that delves into difficult subjects and produces informative videos, Netflix created a series called “Explained” in early 2018 to offer unique insights into a variety of topics, ranging from Kpop to blockchain technology.

One of the most recent “Explained” episodes delved into Bitcoin and the structure of the cryptocurrency industry, with an attempt to evaluate blockchain technology and the use cases of Bitcoin as a widely-recognized and utilized currency.

the following factual errors in the Netflix “Explained” episode on Bitcoin:

1. Most bitcoin is spent on illegal services.
2. Byzantine Generals’ Problem is about being able to transact privately.
3. Satoshi invented the blockchain.
4. All cryptocurrencies use blockchains

Original article link https://www.ccn.com/netflix-explained-falsely-claims-bitcoin-is-mostly-spent-on-illegal-services/

 

[The CC Forums]

Edited to crop out the full article. Please don’t copy and paste full articles from other sites. A brief excerpt, a personal comment and the original link work best. Thanks.

 

[Habiba Aziz]

sorry, i won't do this again

 

[The CC Forums]

sorry, i won't do this again

No worries. Please keep posting and sharing info. We just don’t want to create the false impression that that we authored content actually published on CCN, Coindesk, CoinTelegraph or elsewhere.

 

[ambar33n]

Everyone has a different opinion anyway, and if asked I think these are the future of trade and money, it's up to people how they use something. Everything has an advantage and disadvantages anyway.

 

[Old Man Crypto]

Most crime is committed with fiat currencies.

People can’t keep blaming the tool when it gets misused. When some idiot injured people on purpose with a car, we don’t run around blaming the car.

When someone buys drugs with US dollars, we don’t blame the USD. Likewise, we can’t blame bitcoin if it is used in a crime. It’s a tool. Arrest the criminals, not the tool.