Well, that was harsh. Here are my fairly short views.
1. It's just a speculative investment opportunity
Well, it was meant to be so... but i think it grew to be much more than that. Bitcoin is more considered a currency than it is an investment now-a-days. Especially since it's been more widely accepted.
2. The blockchain is the real breakthrough and bitcoins are unnecessary
I agree. Though bitcoin was a minor but nonetheless equally important breakthrough.
3. The government could/will shut it down
I don't think the government could effectively shut it down. Even if they could, it would take considerable resources to bring it to it's knees. After all, bitcoin is a decentralized currency and does not depend on any government to give it it's value.
4. You can't buy anything practical with bitcoin
Market is expanding gradually. Of course it's fluctuation makes it difficult to place price per goods on it for a given time.
5. There are no advantages of bitcoin over cash or credit cards
Neigh. Bitcoin is more anonymous, faster, secure, and cheaper in terms of tax.
6. The only people who would ever use bitcoin are tech nerds and criminals
OK. Harsh.
Topic: 6 (More) Bitcoin Myths Debunked (Read 1498 times)
7 - Bitcoin is anonymous.
It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
In small enough amounts using bitcoin will be anon. If you use bitcoin properly and the people you trade with use bitcoin properly (eg they only use one address exactly one time) then you can use it anon. It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
This is a good write up, it helped me understand few things better!
I wish I would join BTC train a little bit earlier.
But better late than never lol
I wish I would join BTC train a little bit earlier.
But better late than never lol
in a few years, people may say: i wish i joined back in 2014/15
anyways, i doubt you would keep your coins even if u were here few years back, temptation to sell is allways high.
This is a great point. It's best not to worry about where we are today compared to the past but where we are today compared to where we could be in the future!
The article is ok. Most people that read Coindesk are already involved in BTC and know this stuff. Meh.
but alot people in the beginner section maybe dont know about coindesk
The article is ok. Most people that read Coindesk are already involved in BTC and know this stuff. Meh.
7 - Bitcoin is anonymous.
It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
In small enough amounts using bitcoin will be anon. If you use bitcoin properly and the people you trade with use bitcoin properly (eg they only use one address exactly one time) then you can use it anon. It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
Interesting article. I had family come in and it is amazing to see some of the myths people think.
One myth I would include is it's not a coin just for "darknet". BTC seems to get a bad name to some because of what most likely is a small percentage of users use it for.
One myth I would include is it's not a coin just for "darknet". BTC seems to get a bad name to some because of what most likely is a small percentage of users use it for.
7 - Bitcoin is anonymous.
It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
yep, its pseudonymous.
With some forethought Bitcoin could be completely anonymous or near to it.
7 - Bitcoin is anonymous.
It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
yep, its pseudonymous.
7 - Bitcoin is anonymous.
It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
It is relative because all transactions are public and you probably will expose yourself while trying to buy stuff with BTC or convert it to cash. The Bitstamp situation shows how hard is get away with a big wuantity of coins
That's seriously a very good and highly influential article, made me think over my thoughts again about BTC... Well wrote and everything's explained shortly but meaningfully...
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Colletrix - Bridging the Physical and Virtual Worl
you never know if a truck will run you over the next time you go outside.
it is not as if acquiring some BTC is a complete shot in the dark. you do your research, and weigh the risk to lose some or all of what you invested vs. the possibility of participating in something revolutionary before it goes mainstream.
alamanjani has come to his conclusion and acquired some BTC. good news is, if this conclusion is correct, this is a much better time to get in than exactly one year ago, given the vagaries of the market.
it is not as if acquiring some BTC is a complete shot in the dark. you do your research, and weigh the risk to lose some or all of what you invested vs. the possibility of participating in something revolutionary before it goes mainstream.
alamanjani has come to his conclusion and acquired some BTC. good news is, if this conclusion is correct, this is a much better time to get in than exactly one year ago, given the vagaries of the market.
This is a good write up, it helped me understand few things better!
I wish I would join BTC train a little bit earlier.
But better late than never lol
I wish I would join BTC train a little bit earlier.
But better late than never lol
in a few years, people may say: i wish i joined back in 2014/15
anyways, i doubt you would keep your coins even if u were here few years back, temptation to sell is allways high.
You never know...
This is a good write up, it helped me understand few things better!
I wish I would join BTC train a little bit earlier.
But better late than never lol
I wish I would join BTC train a little bit earlier.
But better late than never lol
in a few years, people may say: i wish i joined back in 2014/15
anyways, i doubt you would keep your coins even if u were here few years back, temptation to sell is allways high.
This is a good write up, it helped me understand few things better!
I wish I would join BTC train a little bit earlier.
But better late than never lol
I wish I would join BTC train a little bit earlier.
But better late than never lol
6 (More) Bitcoin Myths Debunked
As a groundbreaking innovation, bitcoin naturally attracts skeptics just as strongly as it attracts supporters, and the technical and theoretical complexity of the digital currency can cause a considerable amount of confusion with those who are not 'in the know'.
http://www.coindesk.com/6-bitcoin-myths-debunked/
As a groundbreaking innovation, bitcoin naturally attracts skeptics just as strongly as it attracts supporters, and the technical and theoretical complexity of the digital currency can cause a considerable amount of confusion with those who are not 'in the know'.
http://www.coindesk.com/6-bitcoin-myths-debunked/
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