While bitcoin and other cryptocurrencies race towards mass acceptance (and possibly global dominance), there are still a few obstacles on the path forward and upward. Not least of these are several persistent myths about bitcoin that are still being propagated by those who should know better.
In a recent article on VALUEWALK.com, the author marcuss debunks 5 of the most common myths about bitcoin, as follows:
- Bitcoin is not real money
- Bitcoin can be hacked
- Bitcoin is used by criminals
- Bitcoin is not regulated
- Bitcoin is too volatile to invest in
Marcuss shreds each one of these myths with facts that are basic knowledge in the crypto community, but which are not typically reported in the mainstream media.
He explains how bitcoin features all the fundamental characteristics of money, and how certain bitcoin exchanges may be hacked, but bitcoin itself is essentially secure.
Furthermore, he offers a great rebuttal to the assertion that criminals will benefit from the anonymity of bitcoin, when in fact all their transactions will be recorded in perpetuity on the blockchain.
Don’t Believe the Nonsense
He concludes by saying, “Don’t believe the media hype” – which might be paraphrased as “Don’t believe the nonsense.”
It’s Real. And It’s Real Money
Of course, the ubiquitous “bitcoin coin” that usually accompanies any news report about bitcoin is not real. But bitcoin itself is real money.
(Further Reading, Source Article) – Myths (about bitcoin) that must die ...
http://www.valuewalk.com/2017/10/myths-bitcoin-must-die/
