Top 5 Bitcoin Myths and the Truth Behind The Lies
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...