Crypto & Its Market News

Top 5 Bitcoin Myths and the Truth Behind The Lies Many times I’ll run into people new to the idea of Bitcoin and they have heard some mainstream news program or some random person confuse them about Bitcoin. These include common half-truths, ignorance, or fully erroneous news passed off as facts on how Bitcoin works. A s a public service, here are five common misconceptions, or myths , about Bitcoin and things you can retort if you are ever to meet a walking fountain of misinformation. (This list is really much longer than five myths, and may be amended in the future.) Bitcoin Myth #1: Bitcoin doesn’t do anything the other coins can’t do. It’s nothing special. Bitcoin is the original crypto-currency, so the “ Altcoins ” are many times derivatives of Bitcoin or offshoots of its blockchain. It may not even be possible to buy an alt coin without buying Bitcoin, so it acts as a global reserve currency for decentralized digital currency. Bitcoin is held to just 21 million coi...

Prominent crypto critic calls bitcoin a ‘bubble’ and says go to Vegas if you want to gamble • Jeffrey Robinson, the author of a scathing bitcoin take-down, says he believes buying bitcoin is not investing. • "It's a loaded roulette wheel," the writer of the 2014 book "BitCon" argues. • Bitcoin was trading above $11,000 on Friday after sharp sell-offs earlier in the week. Jeffrey Robinson, best-selling author of a scathing bitcoin take-down, told CNBC on Friday that he believes buying bitcoin is gambling not investing. "It's a bubble," Robinson said on "Squawk Alley." "It's a loaded roulette wheel. You're better off in Vegas. The food is better." In his 2014 book "BitCon," he called bitcoin "pretend currency," and wrote very few people use or accept it. Despite the additional adoption of bitcoin as a payment method since then, Robinson repeated that sentiment, saying "nobody is u...