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.
i like LTC these days
You dont own it if you dont hold it. I think physical metals is the safest bet for saving on an individual level
Crypto will change the world, if we dont allow "hidden powers" to control it...
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
Interesting take on creepy dolls lol
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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.
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