Bitcoin Forum

When I started using Bitcoin, I thought Bitcoin transactions cannot be traced. I believe this was what I read from a few Bitcoin related site back in 2012/2013.

As I get to know more and more about Bitcoin, I found out that it is not true. Technically, it can be traced from the Blockchain. Ones need to use a Bitcoin mixer before he/she can be "anonymous".

What "facts" have you heard about Bitcoin that is not true - other than the price?

I think Bitcoin's anonymity is one we all know all too well. I've heard some fun ones, but the best was at a conference than it was invented by the NSA  ;D

I thought bitcoin transactions are free...
          but turn out they require a fee...

For me, the "fact" that bitcoin transaction is instant is a partial "truth". In fact, the confirmation time is about 10 minutes and during the so-called stress tests it will become longer.

I had actually heared following things in advance before starting with bitcoin:
- bitcoin transactions are instant (depending on the fee, they can take a couple minutes, hours or even days)
- bitcoin transactions are free (but without a fee, there's little chance of getting a confirmation)
- bitcoin is anonymous (but instead it is pseudo-anonymous)
- bitcoin is used for illegal activities (i'm sure it does, but so does fiat, gold, diamonds,...)
- it's free money when you mine bitcoin (but instead, you'll need to know what  you're doing to even ROI nowadays)

Anonymity is really tough in Bitcoin once you basically give all the informations to exchange where you buy Bitcoins. The option is use localbitcoin cash and given you pay premium this way, it is not worth it in my opinion.

Other than anonymity is free transactions myth. It is hard to send Bitcoins for free, and it seems to be impossible in near future.

This is both true and not true, in a sense. For small transactions, say in a cafe, you would be paying instantly (and it will be accepted as such). But, of course, we all know it's not technically confirmed until the 10 minute period that the block is added. Anything with a fee will also be completely overlooked for a while.

I think you need your own node to broadcast your free transaction even now, because most public nodes don't accept no-fee transactions anymore (at least, this is what i've heared/picked up on the forum, i always add a fee, so i haven't tried this out yet)

Care to explain the last part "Anything with a fee will also be completely overlooked for a while."?
Do you mean, everything without a fee will be overlooked for a while?

In reality, transactions with big fees will probably be included in the next block, transactions with small fees will probably eventually be added, and transactions without a fee are probably not even accepted by the nodes (let alone, added to a block)

a number of people were and are of the view that one day bitcoin value will reach to zero, but they don't know that for any currency it is not true. any currency can reach to 0.000000000000000001 but it is not possible that a currency exit and its value will be nothing.

I heard few years ago in early 2015 or 2014 maybe that bitcoin / satoshi nakamoto is a CIA conspiracy.
Now I still didn't know what was the real purpose of bitcoin invention?
Still looking for the real fact, but i put a little faith that bitcoin is pure remarkable discovery for economy world.

I've been lucky enough not to be too misinformed about Bitcoin so far... But the biggest lie I've heard was that Bitcoin was basically a profit machine.

Without a fee indeed. Sorry, good catch.

Indeed, in fact I tend to pay slightly higher fees than most people just because I like to reward miners a tiny bit more.

-Bitcoin is anonymous.

-Bitcoin is used only by criminal and nerds.
.
-Bitcoin is dead.

-Bitcoin is a Ponzi scheme.

Theese are the most common  not-true facts that i heard in the past years

that bigger blocks cause issues, when in reality smaller block are worse

The fact I heard was the press and media were saying that bitcoin is dead and it will never rise again, but today we can see the bitcoin have survived and its price is also rising at a moment.

That it can scale. If I remember rightly the wiki breezily runs through the possibilities. When you switch to reading forums you have to wonder whether you're reading about the same coin.

Yeah, transactions in themselves can be traced.

The anonymity of bitcoin isn't in the impossibility of tracking transactions, but in the difficulty of linking those transactions and the identity of one's user.

so many fact that i heard was not true about bitcoin,"bitcoin death" gavin andersen said like that,so many people start panic,and me too ;D but its was not true and now everything was okay. and then "bitcoin used for terrorist funds" its also not true,tha fact is terrorist have own currency,and some people aid they use western union,i dont know.

i don't think you can call this facts but i have heard a lot of FUD over the years about bitcoin which is obviously not true.

the biggest one which we all hear once every two weeks is about bitcoin is dead, which makes the obituaries number over a thousand i suppose.

Nice list you made here. Yes. I almost forgot about the first one - transactions are instant. When I first came across Bitcoin, I was also told that Bitcoin transactions is instant. In fact, sometime it could takes up to thirty minutes or (if no fees), never.


Partially agree. As I said that one could use a mixer to increase his/her anonymity. They can easily withdraw from an exchange and send their Bitcoin from the first address to a mixer address.

Yes. It is impossible to see zero fees transactions - the miners need the bounty to run.


It is a big joke. I actually don't believe that Bitcoin is a government controlled project. I am with you - Bitcoin is created for the next generation economy.


Nice list you have there. In the past the second one could be true. Today, more and more businesses is starting to accept Bitcoin. :).


Hmm ...  :D.

Bitcoin is dead.

Have heard similar be iterated around the forums, so this would be my untrue fact.

Each and every transactions can be traced. Even tracking through ip is also done. Such tracings will be done by high networking developers.

Back in the early days a lot of people seemed to think it was some kind of ponzi or pyramid scheme, even a few of my friends seemed to think it was a scam or something  ::)
Luckily that has changed a lot, those things were pretty easily debunked also...

You're both wrong. Transactions are near-instant. You are talking about confirmation time which is something else. Please stop confusing these two terms (a lot of people seem to do so). These are not solely dependent on the fees though, sometimes the block timing tends to be unusual (two blocks in 2 minutes and then no blocks for 20 minutes (arbitrary numbers)).

Tracking via IP is not feasible unless you control a huge part of the nodes. Even then there is no guarantee that the IP will tell you anything because IP != person. One could easily be connected to a public Wi-Fi (or someone else's), TOR, VPN and such.

It is very true tha several facts about Bitcoin have been exaggerated. First, I heard that Bitcoin transactions are instant unlike in fiat where it takes even 7 days to process. On the opposite side, you can wai for a transaction to confirm for even 2 days. Bitcoin transactions are my free as claimed. Every time you process a transaction. It needs some fees for it to be confirmed.

Many people spread that Bitcoin is just "virtual" currency which is not true for sure, because it's real money and we can use to make deals and trades easily

I've heard that Bitcoin is not real money, as the price fluctuates. I've also heard that Bitcoin is used exclusively by criminals for illegal activities. Both statements are untrue, but the FUD has really had an effect on the value of the currency.

I heard that the Governments will start supporting bitcoins in future, which seems to be impossible at a moment, and I don't think the will ever come in support of bitcoins.

One of the most important facts that people people don't know is that bitcoin is not completely anonymous.
Bitcoin is more of a pseudonymous currency than anonymous.

lol 10k satoshi. I think it was not a cost dude. moreover 10k satoshi not a large sum amount. unless the bitcoin price reaches 10k usd. of course 10k satoshi will be valuable

It is a digital currency. I don't prefer the term "virtual" as it created a connection to things that aren't really a currency (various in-game coins for example).

Correct.

It can with additional layers. It is just difficult to keep it decentralized if you want to scale directly (there are a few  limitations).

Bitcoin has died 98 times (https://99bitcoins.com/bitcoinobituaries/).

I heard this for a while, Satoshi Nakamoto is Bill Gates and Microsoft engineered this whole thing to assist the US government to track all financial transactions on the planet. As I did some research I
 
found out Satoshi were actually Chuck Norris and he developed Bitcoin in his spare time.  ::) The FREE transactions is close to the truth, if you live in a first world country, with a strong currency and

the instant transactions is also true, if you add 50% more to your miners fee than the norm.  ;D

This is even shown in the video "What is Bitcoin v1" on youtube here : https://www.youtube.com/watch?v=Um63OQz3bjo

Pic here with subtitle :

http://i.snag.gy/H1mew.jpg

Well, to be fair, there is no need for fees.

Fees are used to prioritize a transaction, and have no effect on whether you can send he transaction or not. It's just the norm because everyone tries to prioritize their transactions at once.

If users do not pay the fees then many a times the transaction could get stuck or the transaction would not get completed eve !
The miners usually take the fees to speed up the transaction.

That's what I thought too when it went crashing down many times before in the past. I think Bitcoin has long term potential. If only the devs start putting in some work and stop being so damm lazy.

At that time nobody even bothered to trace transactions one by one because those years were the dawn of bitcoin.

But what generally happened after so many big scams is that people started a technique for tracing them. That is why people now call it pseudo anonymous.

But you can obviously make it anonymous if you constantly convert your bitcoins to altcoins and back to bitcoins. (i,e, altcoin trading)

This fact that bitcoin was pseduo-anonymous, was known in 2008 already (http://www.bitcoinisnotanonymous.com/). I dont know how it went on for so long, and still is going, that Bitcoin is anonymous.

But other than anonymity, other fact that ppl are confused is that bitcoin is fungibile. It is not: http://www.bitcoinisnotanonymous.com/#bitcoin-fungibility-01

of course it will not happen. The only issue that is exhaled by parties who are not responsible and by the newcomers were scared. so it will not happen

This infographic:

http://miguelmoreno.net/wp-content/uploads/2013/05/fYFBsqp.jpg

Since addresses only have 160 bits, this graphic is quite incorrect.

Mining is decentralized.

It's not, it started that way but reality is there are a few large players.

I hope p2pool can help decentralize it again.

I'm kind of hoping after the block halving that some miners will leave and that specialized mining hardware will drop in price, allowing more people to use p2pool. We'll see.

You can still be traced with the cooperation of the exchanges, and do not be surprised if the exchanges are already p0wn3d by the NSA etc. via the zero day exploits they have.

If you look at the security of a lot of exchanges, at least historically it wasn't very good. Not too much of a challenge for a state level adversary.

yeah many people who claim superiority bitcoin is the speed of transactions. and when other people try. they protested at having to wait several minutes to get a first confirmation. even up to several hours

First I heard about Bitcoin I thought buying an Asic was a sure thing to guarantee you a profit but it was just another lie for them to take your hard-earned money.

i heard bitcoin is anonymity and make me interested so i think no one can know my transaction but in fact bitcoin isn't full anonymity.

Well technically it is anonymous unless someone watches more than one of your transactions, and they know the identity of one of the people you sent money to.

It isn't as anonymous as I would want to say it is, but it isn't really anything weak either.

When I started, shops accept Bitcoin keep popping up, there were Bitcoin ave, meaning every shop in that street accept Bitcoin. I thought Bitcoin will take over the world, at least I can go to another country spend bitcoins, no need to exchange currency. Well, after two years, this is not true yet.

lol do you think gold could grow only with the near future? and what do you think the baby has started to talk a lot when the age of 2 years?
it took a long time to bitcoin could take over the world dude. bitcoin age was too young for it. new 7 years. you can not expect much more today. but you will see great things from bitcoin in the future. trust me

Yeah me too. When I started out with Bitcoin doing faucets and signature campaigns, I thought that the fees were free because I never made transactions and had no idea about it.

Yeah , I was also of the view that bitcoin transaction is free, and still in xapo I am getting payment from my clients without fee, i think he is also at xapo.

I don't get the point here. what do you mean "fact" that is not true? fact is thing that is true, exist, can be proved. if it's not true, then it's not a fact.

if you meant something I heard that is not true, I've heard that the fee is cheap, but the fact said it depends on the price and how long we will wait for transaction.

I think bitcoin completely anonymous. if you do not publish your bitcoin address to the public. would not know if the address it is have your name. bitcoin is very secure and confidential

Bitcoin is full anonymity!

You just got to use a coin mixer from time to time!

Coin mixers are here in order to change your coins for others, exactly identical but with a different history. Which is a good way to keep anonymity.
That's a bit like if you're being tracked by dogs and you go through a river! Best way to cut tracks ^^

i heard that bitcoin is instant payment service but its depend on conformation. first confirmation need minimum 5-8min to be done.and then i got giving transaction fees higher make your transaction faster.

Please read bitcoin.org, especially this:
https://bitcoin.org/en/you-need-to-know#anonymous

and this:
https://bitcoin.org/en/faq#is-bitcoin-anonymous

I dont understand how ppl can use bitcoin and not even check  official bitcoin website, which clearly in plain English says that bitcoin is NOT anonymous.

Nope dude not like that, confirmation is based on the priority of your bitcoin wallet.there is a settings page in account settings. If you need to make faster transaction charges will be high accordingly.

people said that bitcoin payment is fast,maybe faster than other currency,but the "fact" is not like that,some people said they have been wait bitcoin transaction almost a day or more,and this is oftenly happen,i think that fact was not absolutely true.

that it is only a bad thing that is used only to do the crimes and other illegal things

also that bitcoin is widely used for buying drugs and its way more often used for it than fiat

that bitcoin has no future and it is going to die very soon because people will be not interested into it

I too though it was completely anonymous when I first started using it, Currently understand how it is almost exactly the opposite and everyone can view your transactions live not just your bank/law enforcers.

that it is free to use, did not know about fees except after few months :D

The anonymity one for me, that's one of the biggest misunderstandings about bitcoin

I though bitcoin transactions were completely free when I first came across bitcoin, later known it cost 0.0001 BTC default fees for each.

Well technically you could remain unknown and almost undetectable. If you buy Bitcoins via cash and avoid services that require personal details you are good to go.

One should not use any kind of default fees. Fees should be calculated so that a right recommended satohshi/byte fee is included.

It is not even close to "exactly the opposite". Anyone can view that the transactions have been made, yet they have no idea who made them.

That it is completely private and your transactions can never be linked, Later known about block exploration and following transaction trees between addresses.

Yes it is not absolute privacy but definitely more private than a creditcard or a bank account where everything is directly linked with your name IMO.

Well if you want to, you can always set the fee to zero and get the coin in reasonable time frame if you meet these factors
-It is smaller than 1,000 bytes.
-All outputs are 0.01 BTC or larger.
-Its priority is large enough

And you can still keep the fee to zero even if these factors are not met, but expect a big time to wait until it got confirmed :(
I guess you are using online wallet right?

yeah I was also fooled by it. people can find out what you are. or can find out your primary address if you use a lot of addresses. bitcoin is not completely anonymous. but that there could be advantages and disadvantages

bitcoin only used for an illegals and criminal activity and this is totally wrong because villain not only use bitcoin for to commit their crimes and they will use many payments system to do so and not only bitcoin

TL;DR: you can send free transactions, no prob.
True, 99% chance those transactions won't get confirmed & get returned to you in 72hrs, but that's an entirely different issue.

You still can't be traced as far as i know. The only that can be traced is the bitcoin being sent. but you as a user can't be traced whether its you who owned that btc address unless its proven its yours indeed with some documentation.



I don't think I've read someone says bitcoin transaction is free since the time I started here in the forum.

Lurk moar.

http://s12.postimg.org/xkpfk7oul/Capture.png

1) The anonymity of bitcoin. It's not anonymous, but still harder to track than fiat.

2) Bitcoin will die soon!! That's a load of bullshit, Bitcoin is still strong now and bitcoin dying is impossible.

Posted From bitcointalk.org Android App

before joining bitcoin I heard the fact that bitcoin transactions depends on fee... also indulge illegal activities... but as it is global now realized that these are not true facts....

Posted From bitcointalk.org Android App

They are talking about bitcoin death for years, but bitcoin is growing. I think anonymity is one of the facts I heard and its not true, also who made it, is it some NSA, or some KGB or some other secrete service? For now bitcoin is great for many things, I think bitcoin can be even better currency one day.

I heard that banks and the government will start supporting bitcoins which is simply impossible as banks view bitcoin as their competitor and they will never support bitcoins for sure as bitcoin is a major threat to the banking system.

i can not agree with that, i believe that it actually is possible that governments will start adopting the bitcoins if people will leave them no other choice

i heard that bitcoin is the currency of thieves and other crime makers though it is used by people who just buy gadgets legally too

Well this is obvious, there is no way that banks would ever get behind Bitcoin as an entity, but they might get behind the technology of the blockchain, as we have been seeing recently.

There is some people said that Bitcoin still as just virtual currency and couldn't being real money, which isn't true of course but many people still spreading this false information.

People spread wrong ideas about Bitcoin because they don't know it enough, and they don't know how it works. That's why i think the Bitcoin's community should advertise a lot better this powerful crypto currency worldwide.

even though I think bitcoin users still think that bitcoin only cryptocurrency not as real money. This difference can not be destroyed easily except bitcoin has been accepted by many countries and legalized by many governments. but it has never happened

well the first time I heard about bitcoin people advertised it as an instant, irreversible payment method with no transaction fee (though I didn't get into bitcoin because of these features)... but over time I learned that those are not entirely true.

I hear a lot noobs say 'Why am I waiting 30 minutes for my transaction to confirm while the block time is only 10 minutes?'.

None for me, I always research topics that interest me thoroughly and I never trust random info from forums and blogs. When I finally decided to try Bitcoin in 2013, I read up as much as I could on it before I joined any forums. I, first need to have a solid understanding of the core principles and how it works.

I'm not sure about this "fact" that i read on some blog  ???
Bitcoin is secured by military-grade cryptography. The only considerable source ever imposing a threat would be quantum computing, which does not yet exist. Google operates one of the largest computing networks in the world. Even If you combined all of Google's computing power and multiplied it by 1,000, it still wouldn't exceed the computing power of the Bitcoin network.

The only difference is that Google network actually can do some useful things, and computing power of bitcoin network is used only to solve somewhat useless algorithms, mining.
Quantum computing is not a threat to bitcoin at all. I doubt this technology will be available in the next 50 years.

Well good news, Japan will start to adopt bitcoin into their national currency
So After all bitcoin can be adopted by our government too, ;D
though it will mean that bitcoin will starting to get regulated and taxes :(

On the other side, Russia is starting to ban bitcoin usage
:(

Where did you get this bs info from about japan. read carefully:

http://www.theguardian.com/technology/2016/feb/25/japan-to-make-bitcoin-legal-currency

"Japan’s governing Liberal Democratic party is planning to propose legal changes that would define bitcoin and other cryptocurrencies as currencies."

So for now the party just PLANS to propose changes to recognized bitcoin AND OTHER cryptocurrencies as currencies. It says nothing about their national currency. And if this would heppen:

"The changes would mean bitcoin could be more tightly regulated and taxed"

Not sure this is what bitcoiners really want more regulation and taxes on their cryptocurrencies.

I am also not agree with that. as bitcoin is not bank which will compete banks but bitcoin is a currency which will need the support of banks , and banks will sooner adopt it as soon as the governments approve it for them. Whenever bitcoins establishes they will appear in our banks.

I do not know about it what the cause to be a very long time confirmation. sometimes I even had to wait four hours man! How did it happen ?

I agree. There's a lot of people that only thinks bitcoin is just non real money, but the truth is that bitcoin is universally used.

from the first time when i knew bitcoin i thought that bitcoin transaction is not traceable until one of my friends show me all of my blockchain transaction, and about the transaction speed, they said that it is fast, but after i used bitcoin i just knew that its need time and sometime a lot of time

but despite all of that i still like bitcoin

initially mining very popular almost every user has an account in the cloud mining. and mining equipment sales or miner is highly in demand. even me buy miner 180ghs on ebay. But the longer mining revenue more in less

Probably that bitcoin is free to use completely, Yes it's relatively cheap "the 0.0001 BTC per transaction" but still not free specially on mini-transactions and sending transactions without fees is crazy since it may very well never confirm and be dropped.

We are the same. Anonymity.

At first I thought people are 100% anonymous while doing bitcoin transaction.

Another one is, back in my newbie days, many people are using bitcoin now and it's already mass adopted.

No.. It's not that much. We are engaged here in bitcointalk that's why we think that bitcoin is mass adopted.

yeah because the reality bitcoin is more than just virtual currency. bitcoin is an investment, currency, and so forth. a lot of the wrong people mentioned bitcoin. that bitcoin just a coin for trade only. it was a great one wrong and therefore we have to spread bitcoin with the right information

Ok, so Bitcoin isn't free to use and the exchanges you buy Bitcoin at are raping everyone. Transactions can sometimes be a little slower than just walking to your friends house and handing them cash. So, Bitcoin isn't completely anonymous like cash (that shouldn't really matter unless you're Ross Ulbricht or some pedoperv). So, it's complicated as fuck to use when you already have debit cards figured out. So it's easier to spend your frequent flyer miles or Chevron reward points than your bitcoins. Who cares!

Bitcoin excels at one thing that should make everyone want to use it. It's really really trendy, edgy, cool. Don't you feel a little trendy and superior when you use it? See what I mean, you do don't you?

Bitcoin contains a virus that will override your computer and make you part of some hackers great network.
Or that its mainly used by terrorists and drug dealers.

"Bitcoin is dead"

it seems it is not a hoax or trick. a lot of people who want to hack or steal your bitcoin and your data. some people have been affected in this forum. because they download something unknown. so be carefull

The fact that there's no fees at all, Although it's voluntary there is some fees that is used almost by default in any transaction and even in a no-center network fees are necessary to keep it running and transactions being confirmed.

this " bitcoin let you anonymous transaction but some popular exchange need real id include number department to join platform exchange
like bitstamp and other popular exchange.

This is still correct. You don't understand the statement at all. You are transacting anonymously between address X and address Y. Nobody is forcing you to join services which require personal information.

Did you even read his post and/or understand it? The claim was that Bitcoin contains a virus, which is obviously false.

Nobody knows who this "user" is, ergo this is where the anonymity is coming from.

I think for now bitcoin is still alive. you can see now but that statement can be used for a long time. we do not know what bitcoin can survive or not in the future?

so the statement "bitcoin dead" has not been fully answered the
i think

That is it being completely anonymous, Currently most coins can be linked back if the exchange cooperate and exchanges require documents mostly so it's not that anonymous now...

That it is exclusive to criminals! I see allot of decent people here and they are probably not hitman "or men", I had an impression like this when I seen a topic about bitcoin in a local newspaper.

The instant part is a good point but for us gamblers its still faster. Besides echeque into your bank account where you risk having a account closed.
Some of these books took close to three weeks to send a cheque. So its all relative.

I mean the application related to bitcoin. because a lot of people who want to take your bitcoin by hacking. they insert malware on applications such as wallets and etc

When I started using Bitcoin, I heard that Bitcoin transactions could be reversed. I still can't believe that I believed that a couple of years ago.

Ive also been hearing that for quite a while now and haters can only do is just spread the word hopefully someone believes them.
Their perseverance towards spreading this news is pretty amazing.

They said it only took you a few milliseconds to send your Bitcoin to the other person that is currently at another side of the world, but that particular person couldn't spend the coins unless the network has confirmed the transaction. I thought it was faster than that when I was first found out about Bitcoin.

Lol, even on this section, there is a topic about Bitcoin is Dead. "facts" i heard about bitcoins is not true is Satoshi is a guy in australia, haha. Actually i'm not trust that, but we don't know if it true or not.

In the past, i think bitcoin has not worth enough value. But when i surfing in internet, suddenly i found bitcoin price and wondered that each bitcoin was 400 Dollars. Since that time i am interesting to looking for bitcoin well.

Until the Bank dont understand the value of Bitcoin they will be afraid, but in the future Bank will work with bitcoin and we can do banking with bitcoin just like fiat currency,

That it was safe from corporate capture.

 >:(

Mining will give you viruses

The computer and IT colleges are required that they introduce a subject of crypto currency especially of bitcoin and have to teach the student all the facts about bitcoin to the new generation.

Bitcoin can be eliminated by governments, since they are illegal (as Liberty Dollar) because they are used by criminals. LoL  ;D

That a user is "anonymous" in the network and no one can follow your transactions, it's actually almost the opposite since the chain is open and anyone can view the transactions and possible even trace them back to there origin coins.

Only freaks and pedophiles use bitcoin to surf the darkweb for sick twisted goat rape by midgets.
Old people will think this about you if you talk about bitcoin.

Bitcoin is free to use. Realistically, you're looking to send fees each time you send a transaction or you risk a long confirmation time. Despite the fee being minimum, people seem to undermine it and round down by saying it's free when truly you're spending a tiny amount that adds up overtime on fees. I'm not one to complain about it though  ;)

but this one is true

These are the people who themselves do not know better about bitcoin, they just hear a word about it from other people and start to spread it, they need to have complete knowledge about a thing before spreading it to others.

This is definitely not true. There are just people who are curious for example.

If by people you also mean the media, then this hits it. This is how false information is being spread easily. People love to talk when they know absolutely nothing about the subject just to 'look smart'.

The user is anonymous if he uses Bitcoin properly (e.g. avoids services that require ID). Exactly what does one get from viewing millions of different addresses going around? Nothing. They have no idea who is behind those transactions.

It actually is.

when I heard about bitcoin for the first time they told me that it has no fees and I sent in my first days some transactions with zero fees but then I realize that can happen only IF miners choose it include the free fees tx in a block and this would not happen during rush hours

I am also confused as to why a lot of media are pushing bitcoin. as if bitcoin is illegal items and destined for criminals.
whereas bitcoin is a master piece. picture of the future currency.
I hope they are do not spread the word stupid again

Maybe the government are the ones behind those rumors about bitcoin in the news.
They are against it because their currency is at risk if the people in that country wont use the said currency.

First of all you need to understand that negative news travel fast and are more regarded. There is saying that you need to do a 5 good deeds to wash away a 1 bad deed.
And secondly media won't give you much positive news because that is not something which bring them views. Rape, murder, catastrophe - this is what you can expect when  you turn on TV the most.

That Bitcoin will replace all the currencies in the world and there will be no banks anymore

Sending a transaction to yourself (A double-spend) will duplicate your bitcoins. Hilarious.

I actually fell for that once, but then again, it ended up week. I started bitcoining simply because I wanted to duplicate my money.

lol exchanger like BTC-e seems like they do not require personal information when you want to withdraw your money.
you can directly insert paypal email if you want to withdraw money to paypal
anyway they will not divulge user email information to the public. so calm mate

I was also worried about that it has some virus which will attack on your computer and will destroy your computer and will hack all your data and accounts, but it is not true bitcoin is a safe currency working like a normal currency.

That's funny wrong info many people tried to spread it since few years ago, but i think very little of ignorant people still think that it's true

Classic.

Both the facts that it is completely anonymous "Which is not true since anyway can see your transactions and follow the blockchain to their origin" and it's free to send transactions "the fee is voluntary but is almost a must".

Probably the privacy and anonymity gossip, it is still relatively private but all the transactions are visible in the network..

Probably it is a scam and you will lose money lots of peeps told me that and now there in awe the it rose pretty high.

Yes it was said by some people that it is a currency of terrorist and is used by them and is beneficial for them, but when I involved in it I saw that it is not correct, it is a normal currency and is beneficial to us in all aspects.

The fear that some people spread about bitcoin is making some investor think twice about getting into bitcoin it self.

Bitcoin halvening will automatically double the price  :-*

Yeah this is right now the number 1 Bitcoin rumor that I have been hearing about. We should wait and see what will happen though.

I think this rumor will become true as price is 430 right now and the price might go up to 800 more or less still its a good price after the halving.

Many people told me that it was unsafe and not good. But that is not true. Bitcoin is very safe. And of course there are scams.
But you have to be careful and just do only good thing with Bitcoin. And indeed many people say also that the halving will be good. But you never know what will happen after the halving.

many people who say that. bitcoin is not completely anonymous. lol
when you do not need any data to use bitcoin. so no ornag would know that it was you

I have no idea where people came up with the 'completely anonymous' fact; nothing truly is.

That's just useless speculation and not a fact. It may go up or it may not, you won't really known until it happens.

That does not matter. The blockchain is a transparent ledger and anyone (who uses a cryptocurrency) should known this by now. Regardless, Bitcoin remains pseudo-anonymous.

I have heard two facts about it
Govt.is not aware about the bitcoins, which is not true and
Govt. will support bitcoins in future.
Lets hope that Govt. will support bitcoin in future.

that bitcoin it's better than paypal. I'm a bitcoin enthusiast, but as a buyer to prevent scams, i would always pay whit paypal because i feel more secure, maybe for the seller it's better to use bitcoin but not for the buyer in my opinion

The halvening is by far the most anticipated event this year and a lot of wild expectations are circling around already. I don't know if this will turn out to be true or not only time will tell.

I was under this wrong impression that bitcoin transaction is free and instant both of which turned out to be false.I also had this wrong assumption that I can mine bitcoin on my home pc :D

I think it was not just a rumor or a hoax, bitcoin is very secure and confidential. you do not need any data such as id or email to use bitcoin transactions. That is so anonymous right ?

Nothing is free in real world, but the best thing is that bitcoin transaction fees is very cheap and quiet affordable and the credits are faster in compare to banks.

Nope Its with the small amount fees only bro. If you have Blockchain.info account means Please check inside the account settings There you can find the fee for the transactions plus priority of the account, When they need anyone can go for high priority one to give high payment transactions.

they say free ? I think people are more familiar with "very cheap transaction fees" not free mate. only about 0.0001 BTC or only about $0.04 it was very cheap mate. you'll find a fee greater in other payment methods such as paypal

That bitcoin will touch the moon, which is impossible unless internet services reach to moon, or its physical form is carried to moon by someone. :)

This would be untrue when halving a few more months not have had any effect on the price of bitcoin. made even lower prices.
because everyone says halving will give a big effect on the price of bitcoin and raise the price to be high

That's you can start earning money by installing bitcoin client on your PC. I don't know how people can even think this way... lol

I heard that the price of bitcoin would get more stable in the year 2016 and it will cross $500 in the month of January 2016 which never happened till date.

The actual meaning of anonymity in bitcoin is that whenever a transaction occur then the sender and receiver does not know the details of each other but they know each other from that username with which they have introduced each other.

That's it's anonymous, Did not know all transactions are available for public viewing in the internet.

when I first used bitcoin I though it was totally free, I was using an exchange "and they where paying the miner fee" later after I installed my first wallet I knew there was a default fee recommended for every transaction.

For now 2 facts:
1. Some years ago there were speculations that bitcoins price will rise much faster than it is now, although it is still rising.
2. It is not that anonymous as I thought reading about bitcoins for the first time.

I heard bitcoin is not anonymous  and  transaction could be reversed in  a short time with the ip of receiver!

when i started using bitcoin at first i've heard that bitcoin is going to die, and i have heard it many times ever since, especially in the speculation section but bitcoin is still alive!

After Mike Hearn tell his vision about this project ("btc is dead")  someone writhe a topic in this forum that help to count how many times btc is dead :D .
Well btc is dead a lot of times.... for every dump :D move!

I heard that bitcoin is a scam and when a number of people convert their money to their one day they will find that their bitcoin is worth nothing and the person who introduced bitcoin will disappear from public and will have all the wealth of the people.

We hear everyday 'facts' that are not true about bitcoin, like bitcoin is dying, bitcoin is dead, bitcoin is scam etc.

Yeah, the transaction are viewable to all the public online, which brings insecurity for people, as with that others can find that how much money one have and is sending and receiving.

Well, obviously you need to begin mining. The other thing to note is that nowadays it's more efficient to not mine rather than mine with your CPU. In the old days, it was fine to do so. The difficulty was way, way lower. These days if you try to mine with your computer you would spend hundreds of times more on electricity than you would get back with the block reward.

Im tired of hearing by dumb FUDsters how Bitcoin can't scale and thats why it's "doomed". Also tired of the people saying Blockstream are an evil team that want to centralize Bitcoin, when they are doing exactly the contrary.

So many clueless FUDsters in the community. I hope that they at least get paid for their time.

you seem to be fooled by someone bitcoin can not grow just by you install wallet or application. you need mined it mate. but it can damage and burn your laptop or computer.

The fact i heard a bout bitcointalk that you will find your new way to make an extra income
so really this was true and i learned a lot from this forum thank you Btcointalk

I heard before that bitcoin is an illegal money online but then discovering that it isn't. And bitcoin are money for deepweb only .

Yes the transaction becomes viewable to everyone on net but still the user remains anonymous, as there is no data becomes available on internet that which person is that. None of the identity is shown of that person.

btc is one of the  biggest ponzi of the history

No it's not. It just has a bunch of scammers and con-men working with it and for it.

Yeah, that info is spread that mining and their softwares will install a virus in your PC and will attack on your all accounts and data, which is completely false. But I am thinking that why people spread rumors like that.

Yeah I have saw this thing one thread and discussion is going whether that is illegal money or not.
I would like to say to all bitcoin is trusted network where we can find transparent view in all transactions.  These kind of transaction is not in any transfer medium.

"You can buy anything with Bitcoin" this is what make me keep thinking. Yes of course you can buy anything you want with Bitcoin, but it's not that easy tho.

I think it was true mate. many of the wallet application or applications altcoin. and miner apps who insert viruses and malware into it. after you installed so the hackers can retrieve all the data and passwords from your computer. I've heard it's real

the fact that I heard and that does not come true is that bitcoin is very difficult to use, I guess that's not true. bitcoin very easy to use but for people who are quick to give up is not going to be able to use bitcoin

Bitcoin is Illegal.
Well it is illegal but only in a few countries.

Bitcoin is anonymous.
But I could see other people doing transactions. :D

Well some of these countries are bringing back bitcoin. They should be intelligent enough to go with this decision.


Bitcoin is pseudo-anonymous as you can trace the transaction but cannot know the owner of the address unless he mentions it somewhere.

i have heard few people saying that because of the time taken for transaction is too long, this might be the end of this digital currency. This is wrong.

In fact, this deficiency will be overcome by the bitcoin miners and it will stay forever.

No way. There is no link of virus and mining.
Minning is a mathematical calculation done by the high speed hardwares and there is no risk of virus in it.

Now its really not possible to buy anything with bitcoin. After conversion to fiat anything can be bought. Now small acceptance in store is found which will increase in the future.

Confirmation times can be really long like few hours for 6 confirmations, but it is time for final settlement which takes credit cards months (during that time the payment can be reversed). 0 confirmation Bitcoin transactions take few seconds to propagate and shown in your wallet, and I never had problem 0 confirmation transaction to not confirm later, so the Bitcoin transactions taking only few seconds actually

I heard that bitcoin will be widely accepted by the year 2016 but still I am not seeing it happening not sure when that day will come to use bitcoin directly.

All tx are public (ledger) but who really own "in the real life" a certain btc could be impossible some time to obtain... Anyone know who own 50 btc from block 1 or 2 :D ? But tx / mining arguments are already tracked...

you can see transactions, but there no no real user identities attached in the transactions in the blockchain. thus bitcoin is pseudo-anonymous.

I heard that bitcoin can be easialy hacked and your money can be stolen at any moment and it was so fun to listen bullshit like this ;D

What thread is this. I think the facts is true . yep you can trace from the blockchain  but you dont trace if you dont transact with others. But you cant track who using it, who are the btc user.

A lot of people I know still seem to believe that bitcoin is just for buying drugs, guns and prostitutes

some of my friends tell me that bitcoin was a scam,i'm heard that when i first time to use and earn bitcoin,but so far its not true,bitcoin was never scam since i use and earn it

Yup bro the fact is true .. But it still that this is anonymous who using it . You can track but you didnt know who it is. But you cant track if they use vpn..

its not too happy seeing people talk about bitcoin fact,however its normal if so many people talk about incorrect fact about bitcoinbecasue bitcoin is new comoditiy and its still need a time to reveal all true fact about it.

The fact I heard about bitcoin is when people say you can earn a lot from bitcoin.

But I realize that I cannot earn a lot from it when it comes to services and goods to offer because I don't have something to offer.

Most peoples said that bitcoin is a currency for such illegal activity, buying drugs, weapons or something like that, they might be true, but i think not only bitcoin can do that, fiat can do that also. It's obviously depend on user, how did they spent their bitcoin wheter for legall activity or ilegall activity, thus i must say this case is not true

Every currency can do the same things and buy the same illicit goods, you can use barter goods, currencies or services to buy such things. It is not unique to any form of value, and it all comes down to what people want to hate on because it can do x or y.

I guess the false facts i heard about is the most common one. It's used for illegal activity(drugs,buying guns,etc.) This is why i didn't care that much about it.

Yes that's right because in the deep web people there are using bitcoin a the medium of their payment that's why bitcoin was accused with that kind of negative comment. But real money can be also used as like that.

If you're not put additional fee , your transaction will never be confirm
But that's not true because I saw my friend's coinbase transaction , when he sending out the btc, his transaction also got confirmed ( although medium priority )

When I first became interested in Bitcoins, I heard a lot of nonsense, from terrorists to financial pyramids. The fact that this system to all there invested, and one day someone will run away with the money.

Recently I saw a comment on another forum that Bitcoin will make people rich overnight which is not true at all. There is no free lunch in life and even with Bitcoin one has to work towards securing their profit be it digital money or fiat. I don't understand why some people still think Bitcoin is some kind of get rich quick scheme.

I think not only of bitcoin, even in the real world it is difficult to become rich overnight. unless you win the lottery.
in bitcoin very likely I think of gambling, but it really does need a very big fortune.

I mostly heard Bitcoin will die..but i think it is the wrong fact.   Bitcoin will stay forever.

I didn't hear but i see here on this forum people believe that BTC is only good coin that will be worth millions in the future..This is daydreaming, Bitcoin had its rise and we could be very happy if it stays like this.
Also competition wont kill it but it won't be only one king. Also we will have more chances to earn more money with new coins instead with bitcoin.

I have heard people say that Bitcoin is going to reach its maximum quantity by 2040. But it should be 2140... I am having my bitcoins in ANXBTC and it works well with me.

I still don't know if it's true, or not, but I heard that the CEO of bitcoin was arrested for running a ponzi scheme. That might be able to explain why we don't hear anything from the CEO here anymore but....I definitely think that if the CEO was arrested, then it was a false arrest to prevent its adoption because bitcoin is definitely not a ponzi scheme anymore.

That's right bitcoin now is very competitive and another investor invested into it.

If you know Steam / Valve they are now accepting bitcoins and soon many stores will adopt it.

that it is anonymous, fast, for free, everybody accepted by everobody with at least one brain cell and easy to use..:P

nothing in this world can stay forever. what if in the future someone develops a supercomputer and it ends what is called bitcoin now ? you better say bitcoin will not die soon

I heard a rumor that bitcoin is illegal and is used for illegal activities, but after joining this forum I found that bitcoin is only beneficial to users and it is a good way to earn money and gain knowledge and find out that whatever I heard is completely wrong.

Actually i have not heard any rumors about bitcoins, but i heard about halving mostly people say mostly different native things about halving, but some experience members help us about it. and bitcointalk it is a good plate form which people can get right information about bitcoins.   

Yup thats true that bitcoin is used for illegal, like buying weapons, drugs, and other illegal activities. But it depends upon the user how to use bitcoin. Like me im using bitcoin in a good way and im earning for my family and for my own so that in next school year i can continue my education

in addition,most common people things bitcoin are not good for investmen or not worth it.but in fact bitcoin is good for investmen.

I even heard bitcoin used as funding for ISIS. but I do not know if it was a fact that is true or not. but in fact this time many are using bitcoin for illegal things.

 bitcoin is used for illegal activities (i'm sure it does, but so does fiat, gold, diamonds,...)   I see they are using in deepweb or darknet

yeah before I joined bitcoin many people have had to say that bitcoin is in use by many criminals and used for illegal activities but for me to join in bitcoin. I've never heard of criminals using bitcoin for their illegal activities? I did not know it was real or just a mere hoax

Really? I always heard that is 2040.

Craig Wright is Satoshi Nakamoto

Actually, i never use bitcoin in illegal activities or anything same. Even i never use my bitcoin on gambling , because in my country gambling in illegal to do.

The most wrong fact that I've ever heard about Bitcoin is that it's dead. In fact it's price is even rising at the moment.

Price is not a great metric to gage bitcoins success. Price is what the exchanges and their phony order books want it to be. They have been manipulating Bitcoin price since the beginning. Not all of them make it as obvious as Mt Gox did.

There  are many things that I have heard about bitcoin which can never be true in future is that it will become a global currency and it will replace dollar and banking system in future.

although i agree with you that bitcoin replacing fiat and the banking system is a little far fetched, i have to say this is not a fact about bitcoin it is just a speculation about the future which makes it just guess work not a fact in any sense.

Fact: if you use Bitcoin hot young college coeds will try to blow you constantly.

Fact: Bitcoin use increases the size of your dick by 3 to 4 inches within the first year of use.

I really want to you second fact become true cause it will be so nice  ;D

so my fact

Fact: Bitcoin is massons project to get more money for other projects.

I think so ? why he had come out at a time like this? and why he's been hiding and using another pseudonym? it is still a mystery?
but according to sources he can prove that he is satoshi Nakamoto?
it is still a mystery

The facts that he will disappear and that some people say that he is destroyed. He wont be destroyed
any time because there are always some men who use the coin. And of course the facts that
he will be 10k each dream about it !

The 2nd fact ,that I heard, after the traceless one, was that bitcoin transactions dont require any fee but as it happens they do.

If the second fact becomes true, you might feel difficulty when years pass. Every year of bitcoin usage you'll experience a 3-4 inches growth in your dick, so after few years you might be a world record holder.

I heard maybe like two years ago that all bicoin system fell, I guess it was even on the news! Something like it appeared the new pyramid thing and so on. But as i see now it still works haha