#bitcoin

Myths & Misconceptions About Bitcoin (Finally) Debunked

Bitcoin is becoming well known to many people. While only .5% of the global population ever got involved in cryptocurrency, the leader is making a name for itself. Most heard of Bitcoin although they might not understand it.

Hearing yet not understanding leads to a lot of misconception. This causes the adoption rate to slow because people believe they know what they are talking about when that is not the case.

This takes on added meaning when one is listening to someone who really has no idea what is taking place.

We see the Bitcoin myths and misconceptions debunked.

For example, Warren Buffett says Bitcoin has no intrinsic value. He is right. The challenge with this view is neither does fiat currency. It is only valued because it is issued by a nation and adopted by the population. There is no intrinsic value in that. The same holds true for most financial instruments that are traded.

Bitcoin does take on the characteristics of money and does it very well as explained here.

To read full story, click on image.

Comments · 18

@justinkase34(38)· 2649d
Bitcoin seems to be the way to go. But governments get skittish and wield their power. It will depend on how governments will react to it and that will be the key.
@seedbox65(25)· 2653d
i think the crypto is not safe than physical
@epix(30)· 2653d
So very true! It cracks me up when typical financial analyst say things like it has no value. If we are going to look at it like that, then it is on par at the very least with the toilet paper shit we call dollars.
@edgarare1(68)· 2653d
Interesting..!!

Posted using Partiko iOS
@from.a2z(34)· 2653d
In reality nothing has intrinsic value. Value is based on what we believe is valuable. For some it might be Dollar, for other it might be some creepy dolls (for some others it has value less than zero, they would pay to get rid of it). Fact is that more people are starting to doubt in fiat which leaves the door open for crypto
@kingscrown(82)· 2654d
i like LTC these days
@bgelfen(29)· 2654d
Bitcoin and crypto do not have practical use YET. Give it some time and it will... The technology behind it is another story.
@steemingmark(56)· 2654d
By Tyler Durden I love it!!!
@wasif9(30)· 2655d
You dont own it if you dont hold it. I think physical metals is the safest bet for saving on an individual level
@bobandtom(47)· 2655d
Great article on the topic.

Greetings Bob
@arcange(79)· 2655d
Congratulations @zer0hedge! Your post was mentioned in the Steem Hit Parade in the following category:
- Pending payout - Ranked 2 with $ 149
@brupvoter(62)· 2655d
You got a 45.20% upvote from @brupvoter courtesy of @steemium!
@minnowvotes(6)· 2655d
You got a 7.81% upvote from @minnowvotes courtesy of @steemium!
@evilangel90(48)· 2655d
Crypto will change the world, if we dont allow "hidden powers" to control it...
@boomerang(53)· 2655d
This post has received a 58.66 % upvote from @boomerang.
@joeparys(74)· 2655d
You got a 47.32% upvote from @joeparys! Thank you for your support of our services. To continue your support, please follow and delegate Steem power to @joeparys for daily steem and steem dollar payouts!
@spydo(58)· 2655d
You got a 46.28% upvote from @spydo courtesy of @steemium! We offer 100% Payout and Curation.
@steemium(62)· 2655d
About 107.15$ has been spent to promote this content using Steemium.
Learn more here!