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Home Bitcoin News

Fact Check: Popular Bitcoin Myths and Debunking Them

James by James
July 7, 2022
in Bitcoin News
Reading Time: 2 mins read
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Fact Check: Popular Bitcoin Myths and Debunking Them
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In Brief:

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Many people often do not trust the new, this is characteristic of all mankind. Each of us does not like to take risks, because in cave times it could cost a life. It is good that now we are no longer living in the Stone Age, so the possibility of passive income should not be associated with a risk to life.

Still, many people have a preconceived notion about investing in cryptocurrencies. This comes from the fact that many do not understand what kind of technology it is, it seems that all this is a soap bubble that is not supported by anything, which will burst sooner or later.

I decided to collect the most popular crypto-related misconceptions and find out if they are justified or not.

If anything, I am not the son of Satoshi and am not trying to praise cryptocurrencies and blockchain, as someone suggested in a previous article. By the way, it was dedicated to my story “The Story of Not a Hamster” and how I came to the world of cryptocurrencies, and I also told a little about my current portfolio.

Looking ahead, I’ll immediately say that you are here:

  • You will not find a magic pill with which you will earn a million overnight
  • You won’t see my photos on a Lamborghini / on a yacht / hugging a sheik I don’t know / Louis Vuitton bags / latest iPhone…okay. got it, keep going
  • There will be no inviting you into the pyramids and network marketing … brrr
  • Bitcoin (sometimes referred to simply as cue ball or BTC), the first working example of blockchain technology, was invented as a response to the inefficiency of centralized banking institutions. Its launch in 2009, right after the financial crash of 2007-2008, is NOT a coincidence..

    During the existence of bitcoin, a large number of misconceptions have appeared about it, which continue to spread among ordinary people. Now this leads to the fact that people begin to relate to crypto in a negative way, moreover, simply out of ignorance.

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James

James

James is a 33-year-old cryptocurrency enthusiast who has been involved in the industry since 2017. He has always been a keen follower of the crypto space and has experience in trading and mining cryptocurrencies. Since then, Sam has also written numerous articles on the subject and is passionate about sharing his knowledge and insights with others.

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