Topic: I have observed that some people thinks that every cryptocurrency is Bitcoin - page 2. (Read 161 times)

I'm absolutely in tune with this assertion and I also think this is a good observation made by a colleague here. At first I also thought the word "crypto" or "cryptocurrency" was a synonym of Bitcoin. I can conclude in my own opinion that the Bitcoin word was more popular than the cryptocurrency itself and besides myself who misplaced Bitcoin with cryptocurrency, many people alike also had that misconception and lived by it for a while until they later seek clarification.


For history sake, I can equally confirm that many times, people with fresh and new idea about the cryptocurrency oftentimes took it for Bitcoin and did not know others like the Altcoins, Shitcoins and Stablecoins. Recently I realised Bitcoin, the first known cryptocurrency AKA virtual currency that seek to offer an alternative to the fiat currency, the Altcoins, which are any other kinds of coin that's alternative or different from the Bitcoin itself, the Shitcoins, are coins altcoins that do not longer hold any value in the market and regarded as worthless and the Stablecoins, which are coins that have stability in the market trend and does not easily change significantly in worth or value, are all cryptocurrencies but with different types, use, and worth in the market.

Many individuals who lack proper knowledge about Bitcoin often confuse it with other Altcoins or "shitcoins" just because they are all cryptocurrencies, mistakenly think that every cryptocurrency is Bitcoin However, they don't realize that Bitcoin belongs to a different class altogether compared to other coins or cryptocurrencies, Bitcoin is the most well known cryptocurrency. It's essential for people to understand the distinction between Bitcoin and other cryptocurrencies to prevent misunderstandings. It's unfortunate that some individuals fall victim to scam projects mistakenly attributing their losses to Bitcoin investments. The current trend of telegram tapping in Nigeria has also raised concerns with some projects potentially being scams targeting inexperienced investors. It's necessary for people to differentiate between various cryptocurrencies and be cautious of potential scams in the crypto space.

Well I think I can clearly relate to what you are saying and I believe this is because of how the so called scammers of the society and also because of how Bitcoin has become widely successful that they ought to use the name for every damn shit thing that they do even when I see some inexperienced trader discussing, they seldom make this exact mistake of saying that they are doing Bitcoin trading where as it is very possible but for most of them they can hardly differentiate Bitcoin trading from trading synthesis and stocks and this is because the name "Bitcoin" is like a multi purpose name used for different context and stuffs.

I believe even the community here some users still do make that mistake by calling Bitcoin CRYPTO and I know of many times when JayJuanGee himself has done so many correction to people making that mistake here over in the speculation and other boards whee Bitcoin discussion is very active.

Bitcoin is the most popular cryptocurrency and this has made some people who don't have crypto knowledge to see altcoins as Bitcoin. I have seen people who alternates the names Bitcoin and crypto when they are referring to a crypto project, I heard a lady complaining to another lady that her husband used part of the money that they were saving for their son that wants to enter university on Bitcoin business, now they said that the invested money is worthless. I knew within me that the husband had invested in a shitcoin, but she was calling it Bitcoin business. Also this new telegram tapping that is trending in Nigeria, now, after the Notcoin, success, I have also heard some people asking others if they have not heard about the new Bitcoin tapping, some thinks that the alternative or general names for the tokens that they are tapping is called Bitcoin.

If most of these people that doesn't have crypto knowledge gets involved in a scam project, they will say that they got scammed in Bitcoin business. With the rate at which people are joining telegram now to tap on tapswap and the rest, so that they can get rewards like people that got airdrop rewards from Notcoin and Ice. Scammers will also be creating scam projects to defraud the inexperienced miners. When it happens the majority of them that doesn't know the difference between Bitcoin and altcoins will say they got scammed in Bitcoin. We need to sensitize the people that are close to use that we have different types of cryptocurrency, that only one of them is Bitcoin.