MISCONCEPTIONS ABOUT BITCOINS! MUST READ!

DeathAndTaxes

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Gerald Davis

Quote

Investing in Bitcoin early is no different from buying Apple shares in the 1990s!

I see the point you are making but I would change this to something other than a stock. Stocks (or the company they represent ownership in) generate revenue and profit. A bitcoin doesn't generate revenue, it doesn't have dividends. While it may increase in value there is no underlying cashflow to fall back on if it doesn't.

If you were to pick an asset Bitcoin is more like gold which has seen a tremendous rise in price relative to most currencies since those nations exited the gold standard.

Sonny

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Quote from: fighter on February 17, 2014, 09:42:11 AM

Quote from: rohnearner on February 13, 2014, 01:14:36 PM

You can add few more myth's to list
* BTC is not legal
* btc will die soon
and there are so many other myths circulating around..!

I was about to ask, since when it's not legal and then I remembered you're talking about myths.
But I have to ask you: why do you think BTC isn't going to die soon?

Just curious, what makes you think BTC will and can die soon?
Governments "banning" bitcoin? Bitcoin "bugs"?

fighter

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Quote from: rohnearner on February 13, 2014, 01:14:36 PM

You can add few more myth's to list
* BTC is not legal
* btc will die soon
and there are so many other myths circulating around..!

I was about to ask, since when it's not legal and then I remembered you're talking about myths.
But I have to ask you: why do you think BTC isn't going to die soon?

Angelique

full member

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Quote from: rohnearner on February 17, 2014, 05:01:26 AM

Quote from: digitalninja81 on February 17, 2014, 01:59:09 AM

Good to know, but it's sort of too basic.

I mean, here on this forum the beginners thread gives one a more detailed picture.

Yeah there is lot that can be added to the site, there is lot of ambiguity about crypto currencies from legal aspects , volatile nature, being anonymous ,creating wallet , mining, ans the list is too long..

Yes, there are a lot of myths but we just listed few of them particularly the common misconceptions of people about Bitcoin, we'll add some more. Thanks!

rohnearner

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REAL-EYES || REAL-IZE || REAL-LIES||

Quote from: digitalninja81 on February 17, 2014, 01:59:09 AM

Good to know, but it's sort of too basic.

I mean, here on this forum the beginners thread gives one a more detailed picture.

Yeah there is lot that can be added to the site, there is lot of ambiguity about crypto currencies from legal aspects , volatile nature, being anonymous ,creating wallet , mining, ans the list is too long..

digitalninja81

newbie

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Good to know, but it's sort of too basic.

I mean, here on this forum the beginners thread gives one a more detailed picture.

Cyberdyne

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Quote from: Sonny on February 15, 2014, 02:25:18 AM

Quote from: yatsey87 on February 14, 2014, 10:31:11 AM

Quote from: odolvlobo on February 13, 2014, 04:59:27 PM

Their description of a Ponzi scheme is wrong.

Quote

A Ponzi scheme is a form of fraud in which the first investors pay later investors to continue an illusion for a non-existent enterprise.

lol, it's the other way around.

It seems OP hasn't read odolvlobo's post yet...

It's been fixed.

AndrewGucci

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Thanks, this should be the site for those who do not understand how cryptos works.

Sonny

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Quote from: yatsey87 on February 14, 2014, 10:31:11 AM

Quote from: odolvlobo on February 13, 2014, 04:59:27 PM

Their description of a Ponzi scheme is wrong.

Quote

A Ponzi scheme is a form of fraud in which the first investors pay later investors to continue an illusion for a non-existent enterprise.

lol, it's the other way around.

It seems OP hasn't read odolvlobo's post yet...

yatsey87

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Activity: 840

Merit: 509

Quote from: odolvlobo on February 13, 2014, 04:59:27 PM

Their description of a Ponzi scheme is wrong.

Quote

A Ponzi scheme is a form of fraud in which the first investors pay later investors to continue an illusion for a non-existent enterprise.

lol, it's the other way around.

chocomav

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Nicely designed and factual.

Angelique

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Quote from: Ritual on February 13, 2014, 01:22:46 PM

I quite liked the page/site.

Oh! Thanks

odolvlobo

legendary

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Their description of a Ponzi scheme is wrong.

Quote

A Ponzi scheme is a form of fraud in which the first investors pay later investors to continue an illusion for a non-existent enterprise.

rohnearner

sr. member

Activity: 350

Merit: 252

REAL-EYES || REAL-IZE || REAL-LIES||

Quote from: Angelique on February 13, 2014, 01:17:42 PM

Quote from: rohnearner on February 13, 2014, 01:14:36 PM

You can add few more myth's to list
* BTC is not legal
* btc will die soon
and there are so many other myths circulating around..!

Thanks, we'll add some more

thanks for considering the suggestion, and if you are open to suggestions this thread can turn out very useful..!

Ritual

member

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Merit: 10

I quite liked the page/site.

Angelique

full member

Activity: 140

Merit: 100

Quote from: rohnearner on February 13, 2014, 01:14:36 PM

You can add few more myth's to list
* BTC is not legal
* btc will die soon
and there are so many other myths circulating around..!

Thanks, we'll add some more

rohnearner

sr. member

Activity: 350

Merit: 252

REAL-EYES || REAL-IZE || REAL-LIES||

You can add few more myth's to list
* BTC is not legal
* btc will die soon
and there are so many other myths circulating around..!

Angelique

full member

Activity: 140

Merit: 100

Quote from: quarkyplum on February 13, 2014, 12:52:59 PM

Quote from: Sonny on February 13, 2014, 12:42:53 PM

Quote from: quarkyplum on February 13, 2014, 12:12:18 PM

the last myth...i think the drugs part is true as a misconception not so much the child part

Why?

I mean there are tons of merchants accepting bitcoin payment for legitimate goods and services now.
FYR: http://coinmap.org

I am saying that there are a lot of legitimate goods/services, thus "Bitcoin is for drugs" is a myth that belongs on there. Just not the child pornography part - I don't think people really think that, it is more so with drugs.

Yes, that's why it is merely a misconception.

quarkyplum

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Quote from: Sonny on February 13, 2014, 12:42:53 PM

Quote from: quarkyplum on February 13, 2014, 12:12:18 PM

the last myth...i think the drugs part is true as a misconception not so much the child part

Why?

I mean there are tons of merchants accepting bitcoin payment for legitimate goods and services now.
FYR: http://coinmap.org

I am saying that there are a lot of legitimate goods/services, thus "Bitcoin is for drugs" is a myth that belongs on there. Just not the child pornography part - I don't think people really think that, it is more so with drugs.

Sonny

hero member

Activity: 868

Merit: 1000

Quote from: quarkyplum on February 13, 2014, 12:12:18 PM

the last myth...i think the drugs part is true as a misconception not so much the child part

Why?

I mean there are tons of merchants accepting bitcoin payment for legitimate goods and services now.
FYR: http://coinmap.org

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