The Four Most Popular Bitcoin Misconceptions

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The Four Most Popular Bitcoin Misconceptions
Bitcoin has come a long way since its launch in
2009 and so have the misconceptions around it.
While you will easily find information about the
latest Bitcoin advancements in Bitcoin news,
finding the truth about some of the myths and
misconceptions around Bitcoin can sometimes be
somewhat challenging. So here we are to help you
out with four of the most popular Bitcoin
misconceptions. Read on to find out what these
myths are and the faulty thinking that permeates
them.
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The purpose behind Bitcoin
The first misconception about Bitcoin revolves
around its very existence and the purpose behind
its evolution. People have a range of theories on
why Bitcoin exists in the first place and how it
can fit in the grand scheme of things. Instead of
viewing Bitcoin as an alternate currency that is
free from regulations of any kind, people see
Bitcoin as a medium that can put an end to
governmental control.
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The privacy of Bitcoin
The second biggest misconception about Bitcoin is
that it is private and therefore, could be used
by criminals. However, securing Bitcoin and using
it privately is an incredibly difficult task.
Since many people today can access excellent
financial infrastructure, they dont deem it
beneficial to educate themselves and understand
Bitcoin, which paves the way for more Bitcoin
misconceptions.
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You must have heard this one before if you are
rubbing shoulder with Bitcoin naysayers. Money
and technology are two entirely different things.
While constant changes can be made to technology,
financial systems are rarely ever meddled with.
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This Bitcoin misconception has done more damage
to Bitcoins reputation than all of the above
three misconceptions combined. People tend to
think that the payment mechanism behind Bitcoin
is cheap. This has resulted in several other
altcoins cropping up and Bitcoin losing its
market value.
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Bitcoin Misconceptions
While there is no dearth of Bitcoin
misconceptions that have damaged the crypto
coins image and continue to do so, this article
sums up the four biggest misconceptions around
it. There is a need for crypto enthusiasts to
take steps to alleviate fears from the minds of
potential investors and help the most dominant
cryptocurrency regain its market stature that has
ebbed away to some extent in recent
times. Bitcoin Misconceptions
Conclusion
While there is no dearth of Bitcoin
misconceptions that have damaged the crypto
coins image and continue to do so, this article
sums up the four biggest misconceptions around
it. There is a need for crypto enthusiasts to
take steps to alleviate fears from the minds of
potential investors and help the most dominant
cryptocurrency regain its market stature that has
ebbed away to some extent in recent times.
Source
https//www.cryptoknowmics.com/news/the-four-most-
popular-bitcoin-misconceptions
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