Topic: 5 truths about bitcoin, in my opinion? - page 4. (Read 793 times)

Again and again, another misconception about Bitcoin is.

Bitcoin isn't a charity and promise anyone to become rich, there's no such airdrop or giving free money for poor people.

Bitcoin is a computer program and not everyone understand about it, it's make sense how it's difficult to understand

Everyone already know Bitcoin has been accepted on El Salvador as legal tender, but a future currency? we don't know as government will launch their own CBDC.

Not all points can be true depending with your opinion, exactly with this points

I think not all holder although two until seven years later will get much money by holding bitcoin, just depending right time and the right place when investing in bitcoin. I can give you proof about some investor buy bitcoin when price still on $60,000 and one year later bitcoin price drop right now under $24,000. Can you count with how much money losing with bitcoin investment after choosing wrong time for investing? No doubt with many people become rich person in bitcoin but they have been right time when investing with bitcoin, price still drop and they have strong hand keep hold bitcoin and right now with their patience have reach goal and take much profit from bitcoin investment.

If anything, those are some of the most common opinions concerning Bitcoin.

Not really sure about this one though:


Bitcoin can "save" people in some cases financially, but people really like to totally overstate Bitcoin's importance as if it cures cancer or whatever.

It's not that hard to learn the fundamentals of bitcoin, many people have access to internet now so it only depends if you are really interested to learn it. Like myself, no one thought me about bitcoin way back 2016 but since I learned that it has many uses that can help our financial system, I always keep updated to the current trend in the crypto space.

The reason why there is too much disinformation about bitcoin is because of its continuous rising value over the years. Scammers take advantage of that telling people that it is a get-rich quick scheme.

This is what Bitcoin holders including me are believing that's why many of us are holding Bitcoins and base on history, it seems that it's true. Just look at the charts.

I disagree with this. Bitcoin will not be a medium of exchange but it might be considered as an alternative mode of payment. I don't think that a currency that is scarce and has a limited amount can become a medium of exchange because let's face it, not all people in the world will have access to Bitcoin or any cryptocurrency in general.

Save the world from?
Alien invasion? Global Recession? Financial crisis? Armageddon? End of the world? I mean elaborate this furthermore .

It depends on the person. I myself just learned the most basic parts of Bitcoin and I'm happy with it. I don't want things to be complicated for me that's why I'm just focusing on the basic parts and not on the complex side of it like the technical aspect, programming language, coding etc. but of course you will have an advantage if you know the most complex part of it.

In terms of misinformation, that's why many people are falling into scams because these people are teaching the newbies the wrong way. That's why I focused more on watching documentaries instead of going to seminars or events and in fact, I didn't attend any seminars whatsoever and I will not. Documentaries in youtube and the information here in the forum is enough for me.

The 4th truth denies the 3rd truth, and that is the truth. Bitcoin only helps in certain aspects such as saving from 3rd party fees, saving personal data, and supporting cross-border transactions without being bureaucratic.

If you mean "Bitcoin saves the world" revenue-wise, that's just part of what people believe is wrong in my perspective. Like fiat, bitcoin can't help anyone who is passive. In addition, volatility has two equally sharp blades. If it doesn't save you, it will kill you.

I don't agree with this. It doesn't mean you hold for the long term, it will make you rich immediately because it will also matter with the size you hold, let's say you bought and hold for the long term but the question is, "Is that enough?"

Hahahaha. Maybe the OP is just really straightforward which they don't specify really is. Or just a wrong choice of words.
It would be much better if OP said that it can solve problems about finances, like solving traditional banking or some remittances.

Only if they use own money to buy Bitcoin and hold it for long term. If they borrow money to buy Bitcoin, they can not hold it for too long as consequence of repayment call.

Please don't restrict Bitcoin to only one or a few use cases. It has more use cases.

Please stop saying this, it is not true! It is sort of propaganda from Bitcoin maximalist but it does not make Bitcoin becomes better than it should be.

Perfectionalizing anything is not good!

In reality, in future, there will be times when people don't actually understand Bitcoin but still can use it for their own interests. Like now, we don't have to understand technical things behind the Internet to use it, daily.

Don't hold on too much hope in this one, don't invest in uncertainty even if there's a pattern, put some money in bitcoin just in case though since we won't know what can really happen.
Same old but it's the truth, I guess we just have to say it until everyone accepts it
I don't see how it can save the world because bitcoin isn't a panacea that can cure all the problems that the society faces, can bitcoin solve wars? How about pollution? Habitat destruction? Sea levels rising? I don't think so.
This I can agree but we always have to remember that if something is unknown or new to someone they tend to get scared and they're prone to misinformation or misunderstanding, we can always educate them to change their minds or broaden their perspective.

1. Bitcoin will probably make a lot of people rich especially for long term holders... again
2. Bitcoin is the future and bitcoin is the medium of exchange because it is widely accepted, portable, shareable, accessible, commensurate and relatively stable. That's why it will be used as future currency.
3. Bitcoin can save the world
4. Bitcoin is not very easy to understand and there is too much misinformation about it.
5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.