Topic: Common misconceptions about Bitcoin. (Read 880 times)

Apparently, Pepe like to results that can convince them to unlearn what they have learnt or what they have been assuming, just making counterarguments can't really change assumptions but evidence to backup your argument would and if well presented it might kead them to more interest in trying to figure out wgst true potentials it has.

One big thing is education, once people get enlightened the misconceptions would begin to die off. it's just a matter of time bitcoin is already on this way to make a more big difference that could lead to people regretting their actions of being stubborn towards it.

It can't be completely tacked, but it can be reduced by trying to pass the right information all the time to the right people. We can't force people to accept bitcoin, but we can somehow let them know that it's definitely not the way they picture it to be by creating a conducive environment for them to look at it from.
 
You can do this by creating a counterargument to any reason or example that they give that justifies their claims.
 
For instance, using the popular saying that the use of crypto currency promotes terrorism funding and every sort of illegal activity, you can give an instance of where fiats have been used for such cases, letting them know that crypto is not the problem but the people using it are.

I understand that look when, your friends looking at you like a demmy gods for owning what every other person is praying to have, in my country, once you allowed yourself to be identified as a cryptocurrency owner, not matters the amount in bitcoin they believe that you extremely rich for owning bitcoin.

This is true because after all as long as bitcoin exists and continues to have progress even though its increase will be a good thing but still it will also be hated by some people so they will try to bring up rumors and news with the power they have so that others who are still laymen and do not know about bitcoin feel that this is a wrong thing.
This is not a new thing because from the beginning I knew bitcoin I started by not liking bitcoin because I only saw negative news about this although over time my thoughts began to be more open and wanted to find out more about bitcoin but it cannot be denied that other lay people will also be the same as what I did.
There is nothing that can be done from this because after all as you say bitcoin is not everyone can be in it so we only need to do what must be done and if we can we only need to provide more understanding at least for the closest people so that understanding of bitcoin is more open and not just closing ourselves because of negative news about bitcoin.

Honestly, in any case or shape or data or idea, crypto is true wealth no matter what. I understand that if you keep it at an exchange that might be something scary for some people and I understand that and that's fine, but that doesn't mean that we are going to be doing terrible with that neither. However, if you are holding it in your own wallet, preferably a hardware wallet, then you are going to have the true wealth that we are talking about here, that's the most important part.

I believe that we need to make sure that we are dealing with something that will be something nobody can touch and it's all ours and it can move anywhere we want too. Hell, people took out their own savings with crypto across borders during the war, that should tell you enough about it.

The misconceptions can not be tackled, I must say because there is no way everyone can accept Bitcoin, it is a digital asset class and majority thought that everything that has to do with online is prone to be scammed, accepting Bitcoin is beyond being convinced by another person rather it has more to do with personal conviction to accept the very potentials that Bitcoin holds, it is a digital world and majority has refused to accept the civilization technology has brought for us, alot doubted the potency of Bitcoin at it's earliest days which they might have regretted today seeing Bitcoin doing well today hence, any one refusing to see the true values of Bitcoin should be left alone why the regrets awaits.

Bitcoin is totally decentralised digital currency and there is no central power who controls bitcoin so no one can steal your bitcoins if you store them in wallets. Yes from exchanges you assets can be stolen but only when the exchange stops their operations but they send notifications before shutting their exchange so you can transfer your assets to wallet or another exchange.

Bitcoin is safe and secure but only if when you buy, sell or hold bitcoin without the involvement of any third party, people only got scammed when the broker or third party involves in any deal.

Maybe you should take a look at your topic and what you have written so far. You write "Common misconception about Bitcoin" and I was waiting to see the list of the misconceptions and I am surprised that you have nothing to write about your title. You are your friend had an argument about Bitcoin, you cants even tell us what the argument is all about. The tittle is absolutely misleading and I think you just adjust next time because I was very curious to know what the misconceptions about Bitcoin could be but to surprised with nothing. You just have to emphasize on something better next time.

I also agree more with your opinion on this one because usually fools will also not want to accept the truth from other people with various reasons that they have. So if we have met such a person, it is better not to argue with him immediately, but try to give him bait such as showing the level of profit someone has obtained by having Bitcoin because if we encourage fools to buy Bitcoin with a level of knowledge that is not there at all, it will also be very difficult and he will definitely tend to back down with a thousand reasons of his own.

Sometimes too, those people who have these misconceptions about Bitcoin actually need someone to help re-educate them and explain to them why Bitcoin is not bad the way they think, but they don't have the opportunity to meet those eloquent Bitcoiners that can educate them again about Bitcoin. Some people are so reluctant to do personal research for themselves; they rely on spoon-feeding information, and if there's no one to feed them with the right knowledge about something, they can just live on with the wrong perception about it.  So, the reason why some people will live with those misconceptions is because they have  not meet someone with the right knowledge of Bitcoin to educate them.

This depends because there are stubborn people who don't like to listen to others' explanations, refuse to admit they are wrong and always think they are right. We don't need to waste time explaining or arguing with stubborn people. Meanwhile, for those who are open, eager to learn and willing to listen to others to improve themselves, it is true that we should spend time with them.

But so far I believe that the majority of people who hate bitcoin are stubborn because knowledge about bitcoin is abundant on the internet. If they really want to know about bitcoin, they can search for answers themselves instead of waiting for others to help them.

You would have as well provide an information concerning his thoughts or misconception about bitcoin for us to know what to say atleast. What you really don't understand about humans is that everyone must not think thesame way. There is always an opposition to anything in life, people must disagree to agree. Even the most simplest thing for you may be the most difficult for someone else, so sometimes the best thing to do when you are in middle  of a meaningless conversation is to keep quiet because " you can't continue to fight with a pig , because pig gat nothing to lose" it always enjoy rubbing itself in the mud.

For me I don't have time trying to prove a point to someone who has already nurtured his or her mind with a negative vibe. Because instead of such person to learn and take correction, he/she will like to influence you negatively. And that is the last thing I will do. Investment in bitcoin is by choice not by force and I will not force anybody to agree with me about how important I see bitcoin.

If the person really wants to know the truth then they will find out the truth and also they can find out from those who already have a good understanding of Bitcoin because telling those who are wrong in understanding Bitcoin is certainly useless when they themselves do not want to find out the truth about Bitcoin and it happened because of their own mistakes and only they themselves can fix it.

At present, there are many people who understand Bitcoin and can make a profit from trading and investing, and even those who previously considered Bitcoin as something that was not profitable for them, after studying and doing research, they will use it as an asset that they invest in for their future.

Since the existence of bitcoin it is common to see different misconceptions about bitcoin and people with these doubts always claim what they know or think is the right thing. One common thing about people with misconceptions about bitcoin is that you can't really change or correct them of their misconceptions and it will be a waste of time trying to make them have the real sense of what bitcoin is. When I come across people like this I don't really blame them  the way they think but I understand that the reason for their misconceptions is because of lack of knowledge but some people still choose not to be wise after several research have been made and even after time might have them wrong.
I dont even stress myself to try to prove a point for those who don't understand what bitcoin is because trying to prove a point won't even make any difference because some of these people are very skeptical and stick to what they believe.

The number one misconception I have heard and seen all over social media is the get rich quick scheme, where people are invited to invest X amount and get a return of a 1000 more back which is a scam of the century and far from what Bitcoin or crypto is about...and usually scammers are able to pull this off because people out there are desperate for answers and think crypto currency is about free money that you just download from somewhere..

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Misconceptions mean someone is on the wrong path and need the guidance to be put on the right track, watching someone do the wrong thing while you know something can be done is selfishness if you ask me...but hey we all entitled to our choices.

This is one of the misconception about bitcoin as well. Most people who have no knowledge about cryptocurrency often mistakes bitcoin and cryptocurrency to be the same. They can not differentiate between the two and when they invest in other cryptocurrencies, they see it as bitcoin investment. When they lose the money to failed projects or probably being scammed, they attribute the blame to bitcoin. Ignorance is the primary cause of this misconception and some of them are not ready to seek knowledge and liberate themselves from having such beliefs.


First of all, you don't need to engage in an argument with people over bitcoin especially if you know you can not win against them due to your limited knowledge about the technology. You might end up doubting yourself if they present better arguments than you with their misleading beliefs. If care is not taken, you might also begin to lose interest in bitcoin. It is good you back out from the argument but it would have been better if you didn't involved yourself in it in the first place.

By the way, can you remember some few things he said about bitcoin being controlled by a single entity? What is the entity controlling bitcoin? And the instances that prove insecurity of Bitcoin as well. The answer to these questions will help to know the right responses you ought to have given him and discredit his misconceptions.

We don't need to tackle anything, let them be with their thoughts and ideas if they think they are correct. They will understand their mistake one day and then they will regret it, we have nothing to lose in this, it's their loss if they are too lazy to do some research before spitting shit out of their mouths. It's not that hard to do a simple Google search if you want to know whether your knowledge about something is correct.

Not only about Bitcoin or cryptocurrencies, but generally when I see someone having wrong information about something while behaving and talking like they know everything about it, I stay silent instead of trying to correct their stupidity because I know they wouldn't understand. It will turn into an argument and arguing with stupid people is stupidity.

So whenever you meet such people, whether it's a friend or a relative or a complete stranger, try to correct them at first, but if you see that they are not ready to understand, just leave them with their thoughts.

When you argue with an stupid people there is no justification that we can give because they are stupid people.
But the way to overcome misconceptions about bitcoin is to not argue with them.
All the information is available on social media and they just need to learn about it to know. But because they don't want to know so they have no knowledge at all about bitcoin that they can draw conclusions from.

Explaining something that is unknown is complicated because they will never know and never understand it. This explanation will never help them because basically they themselves never want to know about Bitcoin, so forget about them and just focus on the investment we are running.

Biggest one is that this gig's gonna make them rich, to the point of lambos and million dollar yachts. While that is a thing of the past here, and some of the people who advertise crypto investing is also to blame for this fake notion it's time that people realize this is not meant to replace your 9-5. At best what bitcoin could do, like most investments are, is to allow you to have another facet of income that doesn't eat away at your life or your time, cause you can basically just invest, and wait for the bull run or maybe even a random price pump to happen, without having to watch it closely (although of course keeping a close eye still pays). Fortunately we're able to beat one of the biggest misconception about bitcoin in a span of a few years which is that bitcoin's an MLM or a Ponzi Scheme, meant to siphon money off of those at the bottom while the top whales are getting fatter and fatter.

In your case however, the best way to tackle these types of situation is just sitting it out and letting the other guy realize for himself that he's wrong. Nothing better than doing nothing and still being able to change their minds, and what's even better, you don't get to be blamed for everything when shit does go down and they lose their money.

You can never single-handedly tackle such a large undertaking because it is a global issue. There is no way you can make people who are not interested in gaining any knowledge about Bitcoin aware about Bitcoin and you cannot highlight all these mis-conceptions in them. Those who believe in paper money i.e. hard money and are totally dependent on the banking system, you can never alert them to the misconceptions of Bitcoin and they will never try to understand. For them the banking system is above all and they do not trust any financial system outside of it.

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.

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.

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.

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?

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.

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?

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.

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.

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 .

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.

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.

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.

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.

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.

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. 

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,  .

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.

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.

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.

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.

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.

Bitcoin isn’t controlled by any single individual or an entity, most persons knows that. Bitcoin isn’t subject to any form of censorship. It’s the one truly decentralized asset in cryptocurrency.

It would have been really nice to hear what backings he had for the things he said of Bitcoin. I suppose those where the catch go better his understanding.

Your friend wasn’t going to learn nothing from an argument, just as you learned of his ignorance and backed out due to misconceptions, he obviously would be so focused on being right than wrong and learn.

Somewhat agree on this fact but I got to say that maybe these people that conspiracy theorists have been so scared of when it comes to bitcoin being controlled by something or some shady organization, it might also be possible that people that are supposedly "controlling" bitcoin are smarter than what we give them credit for and that they're probably biding their time at an even longer pace than what most of us would think is humanly possible but other than that, the evidence that supports the fact that bitcoin is controlled by anyone or any group is pretty flimsy in my opinion.

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

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.

If bitcoin is being controlled by particular set of people by now bitcoin would have gotten to hundred thousand, and the existence wouldn't have take this long, because people of different kind could not trust bitcoin when it was newly invented, so I know very well that bitcoin people condemn it and later same people that condemns it are same that have values bitcoin later, don't believe in criticism mostly when you have the passion on bitcoin, since the Year satoshi introduced bitcoin partially it has gotten a milestones of fifteen years if I'm not mistaken

It's a good thing to educate them and hand them some links where they can refer for verification. However, they have all the chances to accept it nor stick to their own beliefs because they think they already know bitcoin very well. When that happens, better to leave them and ignore them. They will laugh on their own mistakes one day and blame theirselves for not knowing earlier.

Anyone with accurate information, experience, and good knowledge in this field and reliable sources can then address the misconceptions and rumors about Bitcoin and cryptocurrencies that many ignorant people repeat. It would have been better for you, OP, to answer him and clarify his misunderstanding or use trusted sources so that he could learn the correct concepts and fundamentals of Bitcoin and have a constructive dialogue between you without arguments.

Honestly, many people like your friend cling to their mistaken views about Bitcoin and are not convinced even if you explain to them with evidence of their lack of knowledge. It is worth noting that there is no interest or benefit for you to waste your time with someone who argues out of ignorance. If he were genuinely interested in Bitcoin but had some concerns, he could have used your discussion as an opportunity to ask questions and receive accurate answers, and then conduct his own research afterward.

That's because they don't understand bitcoin and are looking at the wrong sources. This situation is not too strange because for those who are laymen when treated to data that is a little off too then they will definitely believe especially the source is from some big media so it is quite natural that this can happen.
But it will be a different story if they research further, especially if they have entered this forum, their views may change 180 degrees compared to before.
The problem in this case is that sometimes many people will swallow the wrong data without any filtering process first so it will be difficult to change the mindset they have applied before. But even so, I'm actually not too worried and actually quite grateful because it means that indirectly bitcoin is only for those who want it even though everything can be in bitcoin but not everyone can understand how bitcoin works which makes me believe bitcoin is only for those who want it.

I guess it became needlessly convoluted? if so, you may wanna look back to see if they're into conspiracy theories as well lol.

I've seen typical misconceptions from average folks but those who like conspiracy theories usually have too much to say and the scenarios are more closer to a mystery thriller novel lol. I could try to debunk misconceptions from average peeps but for our conspiracy theory loving folks, nahhh, I'm better off saving my energy lol.

Arhhh like we have bitcoin misunderstandings in our circle of friends I feel how to argue with friends who have no knowledge in their chat full of theories because they think bitcoin is controlled by certain entities even though he doesn't mention it because behind it is hidden.

Another word, if we continue the argument we will look stupid like him so it's better to leave because it's useless he has thoughts that are not in line or are bitcoin haters.

Even I told him to learn a lot about bitcoin in terms of how the market works or something else he still doesn't want to do that, so friends like this don't need to be debated anymore because they will continue to judge that bitcoin is not in line with our thinking.

Think of it as ants outside a can of sugar. They can only see but can’t taste the sweetness of the sugar.
The world economy has started to benefit from Bitcoin because one and many things are starting to be expressed boldly to the surface both in formal forums and behind closed doors.
Trump, openly gave his views on Bitcoin during his campaign. This is something that is strong evidence that great nations want something more from Bitcoin even if it comes from politicians.

Hmm, that true mate ! 
To be honest, it is not only about Bitcoin; it is also about every single thing. If it is difficult to understand, i.e. something people do not understand even if they understand it, then eventually people start calling it wrong. Although, in reality, this is not the case, and vice versa. So similarly, people who have studied Bitcoin know what its benefits are. So even they will not mispronounce Bitcion, while those who are unable to understand will still mispronounce Bitcoin.


I didn't agree with your statement because if a person on this forum has similar misconceptions about Bitcoin, he will definitely be a Newbie. I will tackle these misconceptioned  guys on the way to educate them if they want, and if they don't I will kick them in the ass and leave them alone. Because they are just idiots.

The answer relies on your statements and that is education and that's the only efficient way to tackle any misconception. Like in the case of your friend, if you will tell him how BTC and its blockchain work, and what's the difference between BTC and ETH in the context of centralization and decentralization. Then his misconception surely be tackled.

It's not up to us to tackle everyone's misconceptions about BTC or any crypto because some people are just so Luddite that they don't adopt to new technologies due to their traditional and old beliefs and ways they trust most. Even if they are given the proper knowledge they still won't adopt the new ways.

Op you just made audio (empty) thread without saying anything. It would have been better you mentioned the misconceptions about bitcoin with your friend argument. Who knows if there were some stray bullets (merits) would hit you. You are very lazy to type and that is why you game excuses that the list would be very long so your can't type. And at the end you didn't list anything. And if your friend said bitcoin is own by a single entity and he backup his argument with some point then you would have list the points of your friend for us to see if he is correct or not. Because even Satoshi too made a statement of "we". Meaning he was not alone and in some places he made use of "I". And also in this forum, it is not only theymos that is maintaining it, PowerGlove and others also join hands together doing one thing to the other. So like this we don't know who is right in your argument. Because there is no good information to address your points.

If I'm to ask the O.P specifically, what's the main purpose of this thread? Because I'm yet to grab anything from it, as I was expecting you to tell us what your friend told you which you claimed it's a misconception people have about Bitcoin, and yet all I could see is a baseless and clueless post with nothing for us to hold on to to judge if was he right or wrong. Hence, next time, if you want to create a thread, always try to pass a central message to the people, as this thread lacks basic ingredients.

So all that been said, I will like to point out 2 misconception people always have about Bitcoin which is not true.

1. One misconception people always have about Bitcoin is that it is a get rich quick scheme, whereby they think that if they invest $10 today, in the next one week or a months time, they expect that $10 to turn to $10,000, of which its not how it works.

2. Another misconception people have about Bitcoin is that it is anonymous knowing fully well that its transaction are always recorded on the Blockchain, which is transparent and can be analyse and traced to individuals or an entity's account.

because there is a discussion with the wrong person. most likely your friend only knows through news on social media and only knows a little.
if you discuss it with friends who have the same thoughts as you, it will be more beneficial for you. rather than arguing with people who may not accept other people's opinions.

if the one who experiences such a misunderstanding is a forum member, I'm sure it won't take long when the person to start looking for information on the forum to shift his thinking. misunderstandings are natural for beginners, but when they learn more, they will find the right answer.

Did you back up because you couldn't debunk his arguments? Because it sounds like it, if you can't remember any of his points or reasoning behind his argument.
If you knew he was misinformed and didn't know what he was talking about, it's quite fast to debunk anything that's wrong in his arguments. Unless he is a crazy person. You can't really argument with crazy people, they have their own rules for dialog and reality.
 
But without knowing what he was referring to it's unclear what he meant by that. He might have heard some issues that have basis in reality and maybe misconstrued the problem.

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 they don't want to learn Bitcoin so let it be, it's just a waste of energy if we keep making explanations to those non-bitcoin people against it, if they don't want to believe what Bitcoin is its their opinion sometimes one of our mistake too once we learn something that might help others we keep pushing them around about the bitcoin. This topic repetitively discussed people want to help others and keep pushing join bitcoin but at the end they didn't just show your interest and information only people who really care just my cents.

For newbies, who want to learn and start with basics, they can start with pinned threads in Beginners and Help board of Bitcoin forum or with Bitcoin information and resources from J Lopp.

Some people will ignore risk or accept risk and continue to use centralized exchanges as where they store bitcoin, cryptocurrency. They can not feel fearful by doing this but risk does not care of their emotion. If black swan event occurs, these people will lose money by bad practice.

There is warning to avoid it at beginning but again it's up to each person to decide what to do.
Reminder: do not keep your money in online accounts

Debunking myths is a good way to set things straight with misconceptions. If a person is making a vague claim, asking for proof can also be helpful. In that case, not much work needs to be done to tackle it. It's also a very good tactic to start from finding the common ground, something the person is likely to agree with. For example, that there are unfortunately a lot of crypto scams, which are indeed centralized, and that there are centralized platforms like custodial Bitcoin wallets that can be risky. And that we value security of funds and take it seriously when thinking about Bitcoin.

I think we don't need to deal with these kind of misconceptions seriously because people who often believed this won't never listen at all thinking that they know better than us, so its a good idea to just back out from the argument. Believe me, they will realize their mistakes in time, it only takes good education for them and it's only them who can find ways to correct their own misconceptions. DYOR is the key.

In my opinion, there's no need to force someone to understand this matter. If someone genuinely wants to learn from you and has an interest in knowing about Bitcoin, you can provide them with information from reliable sources and encourage them to ask questions about Bitcoin. When explaining something to someone, it is essential to provide accurate information on the subject. If you want to dispel someone's misconceptions about Bitcoin, participating in discussions in Bitcoin forums, showing educational content on this topic, etc., can help prevent the spread of misinformation about Bitcoin.

The misconceptions you speak about is due to the accumulated knowledge they may have had, else, any one with a good understanding of how Bitcoin differs from other cryptocurrencies will be able to know that the success of bitcoin till date has been a result of good management and a leading vision scope of the future.

Writing or making educated post on our social media pages and handles can help tackle this deficient knowledge that's inherent and help bridge the gap that other altcoins has created.

Its simple: decentralized, meaning no single entity controls it. Period. Built on a blockchain – an unbreakable digital ledger spread across computers, ensuring security and autonomy. Your friend's worries? Understandable. Individual wallets or exchanges can be hacked, sure. But Bitcoin's core protocol? Rock solid, immune to centralized control. Thats the paradigm shift here: an economic system based on distributed trust, not authority.

The future? Bitcoin's potential is tremendous. Technology and human life are merging faster than ever. Bitcoin, and cryptocurrencies in general, are the frontier of digital scarcity and the power of consensus in this new economic landscape. Education is key. We combat misinformation through open conversation and building a community hungry to learn about technology and freedom. Bitcoin isnt just an investment; its a mindset, a quest to understand value and consensus in our interconnected world.

This can be misconception by lack of knowledge and experience. If it is the case, it can be changed by learning and experiencing more in this field. However, oppositely if it is not the case, and people simply intentionally mislead others with wrong information, you can not change them because they aware what they're doing, just want to do it, to make fud.

Don't spend too much time on it, to convince him about that. You can try it once, twice but not too many times, if you feel like you cannot change your friend, let's move on.

Debunk many Bitcoin fud with https://endthefud.org/

Any member of this forum who still has the wrong idea about bitcoin will be based on the fact that they are new here in the forum and have not done enough reading. Many misconceptions about Bitcoin have been cleared in this forum and some newbies who join this forum with those misconceptions were lucky enough to read through these topics when they were addressed now have a stronger view of what Bitcoin actually is.

The majority of people who have a misconceived idea about Bitcoin do so because their idea about Bitcoin was something they adopted, not an original finding that they carried out research on.

That means they don't really understand bitcoin and what they see is just a grapevine from some news, especially for conspiracy-like information that makes them believe even though they don't understand what they are actually saying.
Things like this are still a situation that exists among ordinary people about bitcoin especially if they know bitcoin and only aim to bring down bitcoin then it is clear that this will always be rumored so I think sometimes we don't need to take care of this kind of thing because in the end it will only keep you busy yourself with debates that don't even have any benefit.

In addition, they also don't want to find out more about the truth so when we provide facts that contradict the claims they think are true, it won't be useful because they won't accept the facts.

I think everyone knows him 

I know him. He can't handle if you ask if you ask him to get a string on his ugly bastard dog. What he can handle is to drive you down to his level with absolute nonsense.

You avoid him and his stupid dog. You can't help them.

That's the most craziest accusation we could able to see especially if they link on bitcoin about those things happened to them. But if they realize that they are the one who made that stupid mistake for believing someone or the platform that they need to spend something before they can access some feature or get more bigger share to the scam coins they are participating for sure they are the one who will correct those past misconceptions they say on bitcoin.

I guess nothing is easy for newbie but if they are resourceful type of person where they do research first before taking decisions on each actions they do then maybe they can do good decision towards everything what they want to do with their bitcoins. Aside knowing which is best wallet for them its best for people to know about methods use by hackers so that they can avoid to get compromise by any possible attempts done by those cyber criminals.

I would answer with an expression that is now very active on the Internet, although it hardly belongs to a famous writer:
"Never argue with idiots. You will sink to their level, where they will crush you with their experience" If someone misinterprets the usefulness of Bitcoin, that is his right; let him. I will not get involved in an argument; moreover, I have nothing to talk about with such "deeply assertive smart guys."  Time will put everything in their heads in place. The problem is actually on their side; while smart people buy, other "smart people" waste time.

These are the same people who are very close-minded. Because of what they experienced, they tend to generalize all crypto and they will keep believing that it is dangerous and shall be avoided at all costs.
You would learn more through experience that is true. Being here in the forum and actively participating can open up a lot of people's minds. Let them see for themselves and learn the real concept of bitcoin and crypto through many members of it just in one platform.

The categories of people that hold the bolk of misconception about Bitcoin are newbies, Bitcoin skeptics, anti Bitcoin folks and those that have been victim of ponzi schemes. All these set of people can be classified as a combination of ignorant people and haters.  It's deficult for someone that has been in the Bitcoin system to still hold on to such claim that Bitcoin is being controlled by a single entity. If that's true then I would be very much interested to know who those entities are.

One major misconception a lot of people though mostly newbies still don't want to let go of is this get rich quick thought that they attribute to Bitcoin which makes them think that holding Bitcoin for a long period of time will automatically translates to them becoming rich. It's a strange and false concept but I guess that's what being a newbie allows you to. You get to assume so many things and get a lot of narrative wrong but with time you eventually come to terms with what's really true and that's when you've actually grown enough as a full blown Bitcoinner.

By giving information that is supported by facts.  Just like when your friend states that Bitcoin is being controlled by a single entity, you can refute it by giving him links that have been verified true by the Bitcoin community on how Bitcoin decisions are made. 

About the Bitcoin security, you can just challenge that person to hack the Bitcoin network and see for himself that whether his belief is right.  Misconception is often handled by giving them a non-refutable fact that counters their belief.  If they don't accept that, then just let them be.  It would be them who will look like a joke if they keep clinging to their misconception.

You don't even get serious upon hearing that from someone who isn't knowledgeable about Bitcoin after saying that it's controlled by a single entity. Bitcoin is decentralized and that's why there is no central authority that is controlling and can control it. It's no doubt that whoever has the most holdings of Bitcoin can manipulate a bit the market but soon, it will stabilize on its own. And for the miners, the hash power of it is said to be that whoever has it can also control the network. But how are and are they controlling it? it's even the opposite that many quit mining because they can't handle the difficulty of hash rate anymore. I'd say that one misconception about Bitcoin is that it will make someone rich overnight. 

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 totally agree with all you said here, because it's mostly those that have no knowledge of Bitcoin and all it entails that mostly thinks that way, and saying so because I have been in such space before, when I was totally misinformed about Bitcoin and how it works, I stayed away from it completely because I initially thought that it was one of the new ponzi scheme out there after MMM, because in my country, during that time that MMM went away with people hard earned money, that was when I heard of Bitcoin, I thought that is one of this Ponzi scheme  just as MMM, because that's what almost everyone sees it as at then, but with time, I  started getting the right information about Bitcoin and I started feeling regret that I missed the opportunity to acquire it when it was a lot cheaper, so in essence of what am trying to say is that, it's most newbies or completely novice just as you rightfully said  wether in this forum or not that takes Bitcoin as such, base on what they were told.

I see people posting about newbies to only have the misconceptions, but also bitcoin critics have the misconceptions also. I think those critics sometimes may know the truth but prefer to go the other way.

I just want to correct this part. You can say that misconceptions about bitcoin can start from newbies and end when they have enough knowledge about what bitcoin is, but there is no need to mention market manipulators because it has nothing to do with this thread at all.  Market manipulators can have good knowledge about bitcoin. Even they will likely have enough knowledge about bitcoin and how to manipulate the altcoins (low market cap coins) market.

Misconceptions in Bitcoin space starts and ends with newbies and market manipulators, Bitcoin is the most simplest digital asset to understand, all you have to do is your own assignments, with access to the internet you will understand Bitcoin in no time but if you are a lazy type you will believe the nonsense that people who don't understand bitcoin are saying.

Don't be stupid enough to believe what anyone say, do your own research.
With Bitcoin, seeing should be believing, DYOR.

I've heard a lot from many people who don't believe in what Bitcoin is offering the world, I choose to believe in myself and today these same people are now learning about Bitcoin, if I have listened to them years ago I would have missed out a lot.

He is definitely wrong, Bitcoin is controlled by at least couple entities:

https://youtu.be/eafzIW52Rgc?t=1049

One common misconception that I have heard often from my friend circle is how lucky I am to own bitcoin and how they will never have enough money to invest in and buy one whole bitcoin. It amazes me every time, regardless of how often I explain it to them that bitcoin is divisible enough, making it possible that you buy $1 worth of it if you want. To that they say that it would look silly if they owned only 0.00001 BTC or something like that. Sadly, there is no helping some people.

That's very common and not just about Bitcoin, but about literally anything. People perceive things differently and when in 21st century we still have people who believe that earth is flat we can't really expect much from humanity about more complex and less common topics such as Bitcoin.

First we have to educate ourselves so that we actually know how Bitcoin works then we can explain it to them kindly if they were interested in learning about it. If they are not interested, then just move on. It is not our responsibility to educate others.

Not really. In this forum probably if you find people who have these misconceptions it is because they are newbies. The tackle them thing I would leave it alone. There are people who when the price of Bitcoin was under $100 said it was going to go to 0 and they are still saying it. Don't tell people there is a gold mine, you better grab a pick and shovel.

Mostly the naysayers are people who get scammed over their own stupidity like buying shitcoins, invest in ponzi scheme, paying fee to unlock reward in fake CEX etc and some of them never buy Bitcoin at all.

The most easy thing is learning while practicing, know how to pick the secure wallet and know about basic security. I've hold Bitcoin for four years and never got hacked which proving if Bitcoin is secure.

>>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?