Common misconceptions about Bitcoin. - page 2.

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Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

>>They are so many misconceptions about Bitcoin, if I should start mentioning I could end up being bored while typing. The list goes on and on.
I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.
He said a lot to back his claims which although I can't remember his pin points though.
I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

There is no other way of tackling something than to let the person know the advantages of bitcoin. You will let him know how useful bitcoin is and how it can help people, including him, if he believes in what you explain to him because that is the reason why he keeps arguing with you because of the knowledge he lacks, so you will be the one to let him understand, although people that have this type of mind set towards bitcoin may continue to see it this way, so most of the time you will allow them to be because you can't change their mind set towards bitcoin.

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Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

There are always two opposing camps, in our camp that clearly considers bitcoin everything including security and others, but for the other camp, especially the adherents of centralization, they consider bitcoin as a threat. Not a few governments are against bitcoin because of its anonymous nature, it cannot provide benefits to the state treasury. I will not correct what is considered a misunderstanding from one party because it will only end up at the same point. It is better to let them find it themselves over time and it is proven by the many countries, institutional investors, etc. who are finally pro bitcoin without having to be asked.

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Quote from: Orpichukwu on August 11, 2024, 11:26:57 AM

Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

Most times, the main issue is not really those people being misinformed, but it's their ignorance that makes them think the way they think, because one can't just wake up and draw conclusions about something over little things that they have read about it without even making a proper investigation and consultation on how it works.

Even if you try to educate them on how what they are arguing about really works, they will still don't want to listen. Do you consider such people to be uneducated about bitcoin or ignorant?

I have met quite a lot of people who have different opinions about bitcoin. Most of this unverified opinions can be really annoying but that is their opinion and i won't force them to change how they feel about bitcoin.
This is one of the reasons I do not bother convincing anyone to invest in bitcoin. A lot of people are so ignorant that they will only agree to invest in bitcoin because they believe it will make them rich quickly and that is the only information they know about bitcoin. This kind of people will come back blaming you if you eventually convince them to invest against their will. Convincing ignorant people who do not really want to be educated on what bitcoin truly is will be a total waste of time therefore, it is best to let them be inorder to save yourself from further stress.

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Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

Most times, the main issue is not really those people being misinformed, but it's their ignorance that makes them think the way they think, because one can't just wake up and draw conclusions about something over little things that they have read about it without even making a proper investigation and consultation on how it works.

Even if you try to educate them on how what they are arguing about really works, they will still don't want to listen. Do you consider such people to be uneducated about bitcoin or ignorant?

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Perhaps it's a matter of jargon here, it misconceptions what you mention in your context are deductions based on personal criteria.

Regarding the price or volatile behavior of bitcoin, not even the most erudite conceptual users can predict behaviors, much less attribute real effects of volatility.

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Quote from: Z-tight on August 09, 2024, 03:02:24 AM

Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

the question is how do we tackle this misconceptions?

The network kind of tackles it itself, i mean, some people have been waiting for the bubble to bust, they have been waiting for the network to collapse all these years, but none of that has happened, even the government now knows that BTC is here to stay, and they are now trying to regulate it and some are even campaigning with it.

However, if you know people who believe in some of these misconceptions, you can try to educate them, but that is if you yourself have enough knowledge to do that.

I think it's not us or the network is the ones that will do that but it's them who think negatively in Bitcoin. For those people who are lately been convinced that what they think is wrong or won't happen, I think they are also observing BTC from time to time or they are not totally against it, while for those who aren't like that, they will instantly walk away and won't look back anymore no matter what even if they saw that people around them are also into BTC now. No one knows the future even the government but only god knows. Anything seen in this world even BTC that are now healthy do have a chance to disappear one day but let's only for the best of all shall we?

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Quote from: Obim34 on August 10, 2024, 04:22:32 PM

Quote from: Dr.Bitcoin_Strange on August 10, 2024, 02:04:42 PM

Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.

Well, you already said that it is only the lack of Bitcoin knowledge that causes some individuals to have misconception about Bitcoin, some persons don't have knowledge about Bitcoin and some persons don't like Bitcoin because of it's volatile nature. The major cause of Bitcoin misconception in some people is the lack of proper Bitcoin knowledge.

Yes, among of them is not having the Bitcoin related knowledge and still not wanting to learn about it. Bitcoin came into the market with criticizers right from the beginning, while many has pathed ways with such doubts, also some set of them who still retain those hatred for Bitcoin and they will continously try to prove their point to others but if anyone could be smart enough to not just accept what he/she heard and try to carry out further researches, only then can we clear those misconceptions.

When someone does not have the desire to learn about Bitcoin and only hears about Bitcoin from those who have failed in Bitcoin, of course they will never understand Bitcoin well and if they can take their time to learn it, of course they will be able to understand Bitcoin well and also they can use Bitcoin as an asset that they can invest in.

However, for some people who hate Bitcoin, of course they have unpleasant experiences, both losses in investing and trading, and this certainly happens because of their own mistakes who do not want to learn first before deciding to use the asset to invest or trade, doing research from what we hear from other people is certainly very important because someone could only share the mistakes they made and they do not want to learn the mistakes they made.

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Quote from: fuguebtc on August 10, 2024, 10:31:14 PM

If bitcoin were centralized, what would make it so attractive and attract our attention? If bitcoin is centralized , what makes it different from other altcoins or fiat currencies?

There are many altcoins with smaller total supplies than Bitcoin but those altcoins failed to get higher values and market prices than Bitcoin. Because total supply is only a number which is set up by the founder, developer but it is not enough to create intrinsic value of that cryptocurrency and to get good price on the market, their founder and developer must build up a good project to convince community to invest money in that cryptocurrency.

Altcoins fail at this vital point, without good ideas, developments, no value hence no good price or zero price in the market. The popular ending for most of altcoins, is death, either shortly after launch or after several years.

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Quote from: yhiaali3 on August 10, 2024, 09:41:37 PM

Quote from: KingsDen on August 09, 2024, 05:39:42 PM

If bitcoin is centralized, by now one strong government should be controlling it and governments shouldn't be struggling to ban or undo bitcoin then. It should be a war of one government against the other.

Yes, I agree with you, but my friend believes that there are hidden entities that control Bitcoin in secret, not governments, meaning influential people or secret organizations and so on. Of course, I completely disagree with him and I tried to explain to him more than once the nature of Bitcoin, how it works, and how it is distributed to nodes distributed throughout the world and so on, but it is difficult to convince someone who believes in such a conspiracy theory, so it is better to leave him.

If bitcoin were centralized, what would make it so attractive and attract our attention? If bitcoin is centralized , what makes it different from other altcoins or fiat currencies? There is no denying that until now most of us have been more focused on its price than anything, but bitcoin's success is entirely dependent on its decentralized nature. Because if it is centralized, it will be destroyed or become useless from the beginning . Basically, bitcoin has been decentralized from the beginning, it is not under the control of anyone including its creator .

Bitcoin can be manipulated because it is so small compared to other assets , but if someone thinks that the bitcoin network is controlled by underground forces , I will not believe it .

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Quote from: KingsDen on August 09, 2024, 05:39:42 PM

If bitcoin is centralized, by now one strong government should be controlling it and governments shouldn't be struggling to ban or undo bitcoin then. It should be a war of one government against the other.

Yes, I agree with you, but my friend believes that there are hidden entities that control Bitcoin in secret, not governments, meaning influential people or secret organizations and so on. Of course, I completely disagree with him and I tried to explain to him more than once the nature of Bitcoin, how it works, and how it is distributed to nodes distributed throughout the world and so on, but it is difficult to convince someone who believes in such a conspiracy theory, so it is better to leave him.

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Quote from: Dr.Bitcoin_Strange on August 10, 2024, 02:04:42 PM

Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.

Well, you already said that it is only the lack of Bitcoin knowledge that causes some individuals to have misconception about Bitcoin, some persons don't have knowledge about Bitcoin and some persons don't like Bitcoin because of it's volatile nature. The major cause of Bitcoin misconception in some people is the lack of proper Bitcoin knowledge.

Yes, among of them is not having the Bitcoin related knowledge and still not wanting to learn about it. Bitcoin came into the market with criticizers right from the beginning, while many has pathed ways with such doubts, also some set of them who still retain those hatred for Bitcoin and they will continously try to prove their point to others but if anyone could be smart enough to not just accept what he/she heard and try to carry out further researches, only then can we clear those misconceptions.

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Quote from: KingsDen on August 09, 2024, 05:39:42 PM

Quote from: yhiaali3 on August 09, 2024, 11:13:15 AM

Almost the same story happened to me, there is a friend of mine who believes that Bitcoin is centralized and controlled by one entity in secret (just like the hidden government theory), I tried a lot to explain to him and convince him that Bitcoin is decentralized and no one person or entity can control it, but he is full of conspiracy theories.

The solution is simple in such cases, just ignore him and move on with your life, after that with time he will understand that he was wrong and that he missed the opportunity to benefit from believing in Bitcoin.

I have heard if many misconceptions about bitcoin in the past years, but I have never heard of a strick claim that bitcoin is centralized. If I should encounter such a misconception, I don't think it will be very difficult for me to explain and clear their doubts.
If bitcoin is centralized, by now one strong government should be controlling it and governments shouldn't be struggling to ban or undo bitcoin then. It should be a war of one government against the other.
Nowadays, I no longer see many misconceptions about bitcoin, but rather regrets of not joining the bandwagon early.

You know if we will talk about people's misconceptions about bitcoin, there's always a lot especially that how the government treated bitcoin, it only adds to another misconception. But we all know there's only one solution to that, educate oneself and DYOR. If they chose to believe on their own concept, they will always misunderstood forever, and will be left as a laughing stock whenever they get conversation with bitcoin's enthusiasts that are highly knowledgeable about bitcoin. And I don't think they just let it happen so they need to make an in-depth research as much as possible.

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Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.

Well, you already said that it is only the lack of Bitcoin knowledge that causes some individuals to have misconception about Bitcoin, some persons don't have knowledge about Bitcoin and some persons don't like Bitcoin because of it's volatile nature. The major cause of Bitcoin misconception in some people is the lack of proper Bitcoin knowledge.

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Quote from: Taskford on August 10, 2024, 04:16:55 AM

And we can't avoid to encounter those misconceptions or misunderstanding since not everyone could understand easily bitcoin and what they only believe on those narrow information they know especially if they don't have further interest about it.

If they could just learn a lot of things and try to deep dive on the information they could possibly search for sure those word scam towards bitcoin will never came into their minds and for sure that they provably know that bitcoin is currency and just been used by those scammers online. But many choose to be lazy to educate their selves that's why those misconceptions happen to those people who don't have knowledge about bitcoin.

I would say that it is not our responsibility to make them understand it though, it is not our job, they either learn it like us or its their own problem that they do not know much about it. I personally believe that we should not feel any responsibility about it, that's not going to be all that easy to handle for anyone.

I understand that we are going to live something that would be a little bit harder to handle if we are limited amount of people and we do not get new people, we do require some new people constantly to keep it growing, but I feel like we do not need to hold their hands when we do that, nobody did that to me and I bet not to many people and we are still here, so we do not need to do it to new people who will come in.

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Quote from: Fara Chan on August 09, 2024, 11:53:31 PM

Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

>>They are so many misconceptions about Bitcoin, if I should start mentioning I could end up being bored while typing. The list goes on and on.
I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.
He said a lot to back his claims which although I can't remember his pin points though.
I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

The most effective way to overcome such misconceptions is to not argue when you have already given him the correct understanding. Because such people will usually stick to their own arguments even if others have deemed them wrong and they still won't accept opinions from others. So you have done the right thing by withdrawing from that person and not responding to that person's arguments which could waste your time on him, because in the end he will not believe what you say about Bitcoin.

Listening to their (wrong) arguments and correcting them makes them feel that someone cares about them.

This is not wasting time, but rather helping these people know the truth and leave the wrong information they have in mind. It's up to them to accept reality, but as a concerned citizen, I don't think we leave them like that; instead, we help them to be right. An open-minded person is willing to accept corrections for their mistakes and is willing to change their beliefs. There is no instant change that happens; they will soon find it right and go with it, having the right information in their heads.

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Quote from: yhiaali3 on August 09, 2024, 11:13:15 AM

Almost the same story happened to me, there is a friend of mine who believes that Bitcoin is centralized and controlled by one entity in secret (just like the hidden government theory), I tried a lot to explain to him and convince him that Bitcoin is decentralized and no one person or entity can control it, but he is full of conspiracy theories.

The solution is simple in such cases, just ignore him and move on with your life, after that with time he will understand that he was wrong and that he missed the opportunity to benefit from believing in Bitcoin.

If your friend is a skeptic, who likes to believe in conspiracy theories like anonymous governments, our world being controlled by underground forces...then his skepticism towards Bitcoin is also not too surprising. Even if this vast world is controlled and manipulated, bitcoin technology will be nothing in their eyes, Cheesy

.

I also have friends who are paranoid, always like to hypothesize and believe in conspiracy theories but there is no evidence to prove what they say. So let's not waste time with those people if we don't want to be stuck in the same place as them. The best way to talk to them is results, when they see the results of our bitcoin investment, they will know what they did wrong and what they missed.

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Quote from: Mame89 on August 10, 2024, 04:01:29 AM

Quote from: tread93 on August 09, 2024, 05:58:51 PM

Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

>>They are so many misconceptions about Bitcoin, if I should start mentioning I could end up being bored while typing. The list goes on and on.
I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.
He said a lot to back his claims which although I can't remember his pin points though.
I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

It’s so true there are so many misconceptions , most are held from word of mouth he said she said and aren’t based on anything but fluff. Those folks don’t do their own research or know the first thing about Bitcoin they just hate it the same way folks hate Donald Trump

Misunderstandings can occur due to a lack of in-depth understanding or getting information from the wrong person. In fact, if you really do your own research on bitcoin introduced by Satoshi until now, it is undeniable that bitcoin is a future asset because every year it develops and bitcoin becomes an asset that can protect value from inflation.

Many people consider bitcoin a scam or something like that because they get the wrong information, so misunderstandings can occur if we don't have enough knowledge, especially if we are lazy to do our own research. To overcome this, look for more references from accurate sources, don't be lazy to read and don't be easily influenced by other people's information before doing your own research.

And we can't avoid to encounter those misconceptions or misunderstanding since not everyone could understand easily bitcoin and what they only believe on those narrow information they know especially if they don't have further interest about it.

If they could just learn a lot of things and try to deep dive on the information they could possibly search for sure those word scam towards bitcoin will never came into their minds and for sure that they provably know that bitcoin is currency and just been used by those scammers online. But many choose to be lazy to educate their selves that's why those misconceptions happen to those people who don't have knowledge about bitcoin.

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Quote from: tread93 on August 09, 2024, 05:58:51 PM

Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

>>They are so many misconceptions about Bitcoin, if I should start mentioning I could end up being bored while typing. The list goes on and on.
I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.
He said a lot to back his claims which although I can't remember his pin points though.
I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

It’s so true there are so many misconceptions , most are held from word of mouth he said she said and aren’t based on anything but fluff. Those folks don’t do their own research or know the first thing about Bitcoin they just hate it the same way folks hate Donald Trump

Misunderstandings can occur due to a lack of in-depth understanding or getting information from the wrong person. In fact, if you really do your own research on bitcoin introduced by Satoshi until now, it is undeniable that bitcoin is a future asset because every year it develops and bitcoin becomes an asset that can protect value from inflation.

Many people consider bitcoin a scam or something like that because they get the wrong information, so misunderstandings can occur if we don't have enough knowledge, especially if we are lazy to do our own research. To overcome this, look for more references from accurate sources, don't be lazy to read and don't be easily influenced by other people's information before doing your own research.

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Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

>>They are so many misconceptions about Bitcoin, if I should start mentioning I could end up being bored while typing. The list goes on and on.
I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.
He said a lot to back his claims which although I can't remember his pin points though.
I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

I'm here for a little while now so i think the wrong notion about bitcoin shall have to be addressed by a combination of education and healthy debate. Most of the misunderstanding comes from ignorance of how Bitcoin works. One should give clear exact information, explaining that Bitcoin is decentralized and managed by distributed computers, not just some powerful central entity. It is secured with approved mechanisms like Proof of Work and principles of cryptography. A lot of misinformation can be corrected by patient talking and evidence-based explanations, by listening to the other party's concerns. Another way to correct the bad information is by appeal for critical thinking, whereby others are challenged to verify information through trusted sources. By focusing on these strategies, you can help dispel myths and encourage more informed conversations about Bitcoin.

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Quote from: Gooner0 on August 09, 2024, 12:49:09 AM

>>They are so many misconceptions about Bitcoin, if I should start mentioning I could end up being bored while typing. The list goes on and on.
I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.
He said a lot to back his claims which although I can't remember his pin points though.
I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

The most effective way to overcome such misconceptions is to not argue when you have already given him the correct understanding. Because such people will usually stick to their own arguments even if others have deemed them wrong and they still won't accept opinions from others. So you have done the right thing by withdrawing from that person and not responding to that person's arguments which could waste your time on him, because in the end he will not believe what you say about Bitcoin.

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