Topic: 5 myths every crypto investor is tired of hearing (Read 274 times)
Yeah, I always hear about that bad news, I also think that they are myths. Many people believe that crypto is very dangerous because they are used for crimes, money laundry, and also terrorists. Crypto is also unused in the real world. They are very volatile and can make the finance unstable. And more. But for me, i will take easy of this. Never
Knowledge is power. Those who know about cryptocurrency today and are using it, are those that have come to understand what it really entails.
Some people have spread different negative news about cryptocurrency, that some of those who are into it are even afraid of saying it to people.
Some people have spread different negative news about cryptocurrency, that some of those who are into it are even afraid of saying it to people.
I think this is one of the coolest posts I've read this month. For a fact cryptocurrency still has a long way to go, even after ten years of being invented. Adoption mainstream right now sounds like a bull horn going through an eye of a needle, because the existing architectures lack required scalability, security, including other drawbacks to be adopted by institutions and firms. Also, we all know the authorities are still against crypto, because they think crypto is irrelevant since it will only increase crime rate, cause FIAT to go down, they won't have control over it since its decentralized including other factors. Let's hope for more adoption and more use cases in future.
Are you sure these are myths or fact, because for me looking at the coinmarketcap attimes and seeing more than 2000 tokens listed on it and 99.99$ of them have no real world use, it does baffles me for a market that is more than $100 billion and 99.99% have no real contributions to real world
Sorry to burst your bubble dawg, but myth #1 is not a myth.
Of course cryptos are not solely use for money laundering, but I believe there has been massive money laundering going through Bitcoin. Hundreds of millions USD, perhaps even a billion or two. Bitcoin was just so convenient for this, it's becoming less easy now, maybe that's also why Bitcoin price is dropping for months.
Of course cryptos are not solely use for money laundering, but I believe there has been massive money laundering going through Bitcoin. Hundreds of millions USD, perhaps even a billion or two. Bitcoin was just so convenient for this, it's becoming less easy now, maybe that's also why Bitcoin price is dropping for months.
I also don't understand people who say that bitcoin wasn't a bubble. Even the dotcom bubble was smaller. Bitcoin inflated and burst several times, but it's still alive. That's what makes it unique!
The problem is that these myths are spread because that's how ordinary people are presented with information about crypto. We understand that cryptocurrency does not bear any evil and the fact that this is our future. But it is sometimes difficult to convey this to ordinary people, because they are used to hearing something else.
The most common of them is the No.1, people always say that and That leaves me with the question; Can you not use fiat for criminal and fraud cases? You have to be strong in belief to withstand all of these myths because they come often. We need more of positivity to gain mass adoption. Stop the myths educating them well enough
the reason behind this myths was started because of the media publishing news about cryptocurrency without a deep research also some movies where crypto was used by the criminals or illegal transactions and because of this people are afraid to enter in the world cryptocurrency but i hope it will change soon and see the full adaptation of this modern technology.
Whoever own that post,its better for you to include
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[quote]If you have ever told someone you are a crypto investor,.........Read About Rest 3 Myths HERE (https://dex.openledger.io/5-myths-every-crypto-investor-is-tired-of-hearing/)[/quote]
To avoid getting banned for plagiarism,if you once banned then it will be very hard to recover.
The myth 3 about cryptocurrency trading is too complicated for new trader is actually opposite, I first started trading in cryptocurrency later few months i started trading in stocks. I think cryptocurrency trading is much easier as compare to stock trading with less documentation works.
The large part of the people that do not want to have anything to do with crypto believe that crypto sphere is full of criminals and that these coins are used for criminal purpose.
Some people are just confused and they don’t know what to do. Some of them are just afraid of going into it cause they think they are going to lose, nobody wants to lose money, and they just forget that if you want to achieve success you must be ready to take risks.
My friends will call Bitcoin a scam and later they will still come back to ask me if I’m still doing the same stuff (Bitcoin) lol. Sometimes they even get jealous when I’m making money from Bitcoin because it defies what they believe about crypto. I just tell them it’s meant for everyone and they can still try their luck too, instead of sitting at the corner and getting jealous.
My friends will call Bitcoin a scam and later they will still come back to ask me if I’m still doing the same stuff (Bitcoin) lol. Sometimes they even get jealous when I’m making money from Bitcoin because it defies what they believe about crypto. I just tell them it’s meant for everyone and they can still try their luck too, instead of sitting at the corner and getting jealous.
I think these myths and perceptions will remain there untill crypto achieves the required adoption and it really becomes a useful technology on daily basis for payments, remittances etc initially and it should be a household thing.
Yes, we are funny to read and listen to these myths, invented by someone who does not understand, as we study this direction and work with cryptocurrency. But no matter how terrible it sounds, today a very large number of people remain in the shadows and do not know what cryptocurrency is and what it is for, well, these are the people who create these myths, which for us seem to be the real stupidity.
What is the point of this discussion ?
I am always seeing many people are always talking against crptos but cryptocurrencies are finding its own path to find success. I mean I have seen people and big medias also were complete against bitcoins by the time of 2013 but after that bitcoin hit $1000 and then fell down and again got big recovery and then peaked to $20k levels also. Investors were really tired of those myths ? I do not think so. I believe most investors had ignored them.
So, we can expect new generation of investors also will ignore what ever negative things they do hear. Because, most people will not depend on others for their investment things. When they go for their own research and analysis, will find out all the truth about cryptos.
I am always seeing many people are always talking against crptos but cryptocurrencies are finding its own path to find success. I mean I have seen people and big medias also were complete against bitcoins by the time of 2013 but after that bitcoin hit $1000 and then fell down and again got big recovery and then peaked to $20k levels also. Investors were really tired of those myths ? I do not think so. I believe most investors had ignored them.
So, we can expect new generation of investors also will ignore what ever negative things they do hear. Because, most people will not depend on others for their investment things. When they go for their own research and analysis, will find out all the truth about cryptos.
The first myth is what I heard the most. Many people think that crypto currencies are used for criminal acts such as buying drugs. Seriously, fiat can be used for the same purpose.
That's myth. That opinion has created by most of ordinary person which lack of knowledge about what's the purpose of the cryptocurrency. Only crypto that used anonymity tech has already used to buy that kind of goods. But the latest news has been showing the decrease on its transaction.
I think not only crypto investors got tired of hearing that, even crypto enthusiast that are trying to explain to some people to be involve or join crypto. Because first thing comes out to the mind of person that has no idea on crypto is he can say crypto or bitcoin is just fraud or scam.
The first myth is what I heard the most. Many people think that crypto currencies are used for criminal acts such as buying drugs. Seriously, fiat can be used for the same purpose.
yes, just like in my area, they thought that crypto money was my own criminal act and it was affected because it was accused of ATM burglary because they did not know what my job was actually there was a bitcoin seeker.
I'll give you a myth that is true (and therefore is not a myth):
Bitcoin is not yet a currency.
It is difficult to use nowadays to buy good and services.
For now it is a store of value, nothing less nothing more.
Bitcoin is not yet a currency.
It is difficult to use nowadays to buy good and services.
For now it is a store of value, nothing less nothing more.
Myth 2. There are no ‘real-world’ uses
Another common myth that someone even brought up to me today. In response, I described the current situation in Venezuela. The country is suffering from hyperinflation causing its national currency, the bolivar, to drop in value by almost 95%. To purchase a simple meal, Venezuelans literally need to pay with stacks of cash, this is why the cryptocurrencies are being widely adopted throughout the country. Their low fees and instant transactions make them much more useful than Venezuela’s national currency. In this case, their ‘real-world’ use is so real that cryptocurrencies are literally feeding the country plagued by hyperinflation due to the negligence of the government and central banks.
Besides providing an alternative and stable currency to an entire nation, cryptocurrencies can be used to purchase various products and used as an investment tool as well.
Another common myth that someone even brought up to me today. In response, I described the current situation in Venezuela. The country is suffering from hyperinflation causing its national currency, the bolivar, to drop in value by almost 95%. To purchase a simple meal, Venezuelans literally need to pay with stacks of cash, this is why the cryptocurrencies are being widely adopted throughout the country. Their low fees and instant transactions make them much more useful than Venezuela’s national currency. In this case, their ‘real-world’ use is so real that cryptocurrencies are literally feeding the country plagued by hyperinflation due to the negligence of the government and central banks.
Besides providing an alternative and stable currency to an entire nation, cryptocurrencies can be used to purchase various products and used as an investment tool as well.
once upon a time me also trusted these myths but the day when i came to know about the real fact about crypto .Now i don't bother about rumors anymore.
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