CoinCorner's Views on the News tries to debunk many misleading news stories, along with giving an industry insiders view on the hottest topics and stories from around the bitcoin world.

Hollywood To Accept Bitcoin In Movies



As it gains popularity, bitcoin is finding its way into a number of Hollywood films… but is this new found attention really a good thing for the digital currency?

Source: CoinTelegraph

How does it affect the (bitcoin) industry?

Thanks to the increasing amount of media coverage over the recent years, bitcoin has steadily been gaining popularity among the masses and whist it would appear that an interest from the film industry means bitcoin is finally being taken seriously, I think that we need to proceed with caution.

Everything about the Hollywood film industry is big… big budgets, big names and big audiences.. so, from a marketing perspective, product placement is one of the most effective (albeit one of the most expensive) forms of advertising. One of my favourite examples of how the effective product placement can be is that of Hershey’s Reese’s Pieces in the film E.T. the Extra Terrestrial. Hershey reportedly saw a 65% increase in profits in the two weeks following the appearance of their product in the film, so surely it’s a good thing for the bitcoin industry that Hollywood directors are showing willing to include bitcoin in their films? Could this kind of exposure be the beginning of mass adoption? I’m not so sure…

We cannot forget that bitcoin is still in it’s infancy and my concerns are that Hollywood has the potential to ruin everything the digital currency has worked so hard for over the last few years.

Bitcoin is finally starting to shake it’s shady past. It’s taken a little while, but it seems as though bitcoin has (almost) made a good name for itself. Despite the endless negative attention over the years, bitcoin is stronger than ever, however, my concerns now lie with those in the film industry and how they plan to portray bitcoin in their films.

As Tomer Kantor said in the article:

Bitcoin is a tool, so every movie where it’s used would always show the perspective of the director’s desires for that tool.

Bitcoin has experienced more than its fair share of negative press over the years, which as a result, has shaped public opinion. Once commonly associated with illegal activities on the Dark Web, bitcoin is now hailed as one of the most successful cryptocurrencies of all time, however, there’s a fine line between its continued success and its failure. Hollywood has the potential to make or break bitcoin and it’s fate lies in the hands of the film producers.

The article talks about Deep Web and Dope – high budget movies that have featured bitcoin, however both of which have unfortunately painted it in a bad light, once again linking it to drugs and the dark web… how can bitcoin ever be truly successful if it cannot move past it’s Silk Road days?

How does it affect CoinCorner?

This type of exposure has the potential to be great for bitcoin, if only Hollywood would realise that bitcoin has grown up. The film industry has great influence over the public opinion and continually portraying bitcoin for the use of illegal activities runs the risk of being detrimental to all the businesses that operate within the bitcoin industry, like CoinCorner.

Disclaimer: The views and opinions expressed here represent those of the contributor, not necessarily those of CoinCorner.

Could Hollywood influence the public opinion of bitcoin? Let us know your thoughts in the comments below…



Molly, News, Opinion, Views On The News

1 Comment

  • Adriano Arrigotti

    I’m thinking that if the movie industry has the courage to tell the truth about Bitcoin , it will definitely be good , but even if it should not be so , as he once said Oscar Wilde : ” It does not matter that we speak good or bad , the important thing is that we speak . “

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