The Biggest Misconception About Cryptocurrency

[iamTom123]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

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[European Central Bank]

dunno about the hundreds of thousands per minute part.

what does worry me is that it'll become the victim of another dotcom bubble that'll destroy the faith people have in it. once the smoke has cleared then it'll really establish itself just like the companies came out after the dotcom bubble.

there's a good chance greed will overpower any real uses. that doesn't matter in the long run, it does to people holding cryptocurrencies now.

[Iranus]

dunno about the hundreds of thousands per minute part.

It's obviously bullshit.  It's extremely unlikely that we're talking about more than a few million in total.  I hate when people overestimate the popularity of something they're doing, just because they're on a forum where people come to discuss it.  Most other places, people are only vaguely aware of the concept and even some people who currently own cryptocurrency are unaware of the banking system's current state (and are in it for more fiat).

what does worry me is that it'll become the victim of another dotcom bubble that'll destroy the faith people have in it.

BTC has had repeated bubbles.  There's the most faith in it right at the top of the bubble and the least right after it.  The ideal period is that part in between when a bull market is just beginning, like early 2016.  That's when merchants actually start accepting it as a decent payment system.  Most merchants don't care about stupid rises in price, you just hear about the few that do care as soon as the price leaps.
What people can't get through their head is that there won't just be a sudden point at which the general public decide "alright, Bitcoin's pretty cool, let's get using it".  BTC will always be divisive, and there will only be a very gradual shift towards usage.  

This rise in price is NOT a "paradigm shift", it's only a "price shift".  Merchant usage is not getting much higher now than it was a few months ago, if at all.

[Pidgeon]

How can you get hundreds of users every minute with a 420 transaction per minute speed?

[pearlmen]

I think I will have to agree with him because even with my first into the crypto-world, I had the misconception with several negative readings on the internet concerning the subject matter and this put some fear into me which was responsible for the making of some rash decisions but one year after I joined, with others counting eight or nine years, I concluded that its a myth that hopefully will not come true.

[European Central Bank]

BTC has had repeated bubbles.  There's the most faith in it right at the top of the bubble and the least right after it.

it's a different matter if it's a few freaks who lose their shirts like 2013 or even now. it's a different ball game if everyone and their mother is piling in. if the money of tens or hundreds of millions of people goes up in smoke that's not gonna do anyone or anything any favors.

[hatshepsut93]

dunno about the hundreds of thousands per minute part.

what does worry me is that it'll become the victim of another dotcom bubble that'll destroy the faith people have in it. once the smoke has cleared then it'll really establish itself just like the companies came out after the dotcom bubble.

there's a good chance greed will overpower any real uses. that doesn't matter in the long run, it does to people holding cryptocurrencies now.

Some companies survived the dotcom bubble and live to this day, and if we are in crypto bubble now, there's a good chance that Bitcoin will survive it, because Bitcoin has real utility and innovation. Also, there's actually not so much value invested in alts, millions of USD in their marketcaps doesn't mean that they've literally received those sums.

[alani123]

If you know someone working in banking or finance you could ask them and they'd know to tell you that people in those industries thought the same about e-payments as well as e-cash. They refused to believe that such trends could catch on but now they had to adapt to people demands and use of technology. Even if the speculative trend for cryptocurrency "passes" the technology would still be there, able to be utilized.

[dreamer81]

hundred of thousands seems high. I'd perhaps say thousands. But he is right. People will not accept it because they dont understand it. What is the alternative though? gold?

[djuvantebit]

dunno about the hundreds of thousands per minute part.

what does worry me is that it'll become the victim of another dotcom bubble that'll destroy the faith people have in it. once the smoke has cleared then it'll really establish itself just like the companies came out after the dotcom bubble.

there's a good chance greed will overpower any real uses. that doesn't matter in the long run, it does to people holding cryptocurrencies now.

my greatest fear with the paradigm shift is the power of greed you just mentioned, we all can see what it is doing to the crypto ecosystem, forks after forks, its not as simple as just narrowing down to just greed though but greed is definitely a powerful force. One thing will last and that is the technology, a lot are still unaware of what the potential applications of the technology behind the Cryptocurrency industry but, yeah when the dust settles the big boys will dust it up and run it.

[orions.belt19]

I didn't think of it as a trend at first. I initially thought that cryptocurrency or Bitcoin is a scam, and only used for illegal means. I had a hard time at first to conceptualize the idea of Bitcoin, so I lost interest on it when I first heard about it. I immediately dismissed it because of my fear that Bitcoin is fraudulent and devised to fool people. Its amazing how long Bitcoin has sustained for this long and continues to grow.

[Qunenin]

The biggest misconception about cryptocurrency is how special it is. It is something that is given given us a great deal of money, and a great deal of technological changes. But we always hear about people out there trying to push it on friends and family and total strangers, as if it is the next coming of the Christ. It is simply a digital currency platform, that was supposed to be decentralized and that part is failing every day. It is growing, and it will no doubt go through changes, but is nothing more than what it is.

[jamids]

I didn't think of it as a trend at first. I initially thought that cryptocurrency or Bitcoin is a scam, and only used for illegal means. I had a hard time at first to conceptualize the idea of Bitcoin, so I lost interest on it when I first heard about it. I immediately dismissed it because of my fear that Bitcoin is fraudulent and devised to fool people. Its amazing how long Bitcoin has sustained for this long and continues to grow.

I too think of it that way when I initially encountered bitcoin. Scam has been so rampant that anything that has an earning potential would turn us to be skeptic as we don't want to lose our hard earned money. Later on as I research more about it and knowing it has been existing for some years and then stumbled in this forum made me realized the existence of cryptocurrency world. That aside from foreign exchange and stocks, there is another thing that can be traded and there is earning potential as well.

[Scorpion]

Great quote. Yes Bitcoin is here to stay. It's trending up, and trending outward, more and more developers are making use of blockchain and ideas are spreading about how to improve things with this technology. Yes the money is good but the positive effect on technological growth is even more impressive.

[yugyug]

the misconception about the  crypto currency that it is only for the tech savvy, computer hackers and criminals and only applicable for rich countries. whereas
bitcoin are spreading now on the less developed countries to open an equal opportunity to earn.

[X-ray]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

My question, where are from the hundreds of thousands of new users come to adopt the crypto? that means the adoption will significantly growth a lot. But you must see there are some dead or zombie altcoin. which prove the crypto can go away.

[Realist247]

Biggest misconceptions:

Cryptocurrencies exist to earn people money on the upside only.  This must be millennial thinking because every other speculative financial instrument on the planet has profits via puts or shorts aka the downside.

"What goes up will always go up!!!!" LOL

Banks are not working 24/7 to co-opt cryptos.

Governments are not developing their own cryptos with low fees, instant transaction times, and using their control of the media to sell it to the public.

BTC will last more than another 3 years before a flurry of competition makes it resemble Tulip-mania.

"Bitcoin is an investment."  No it isn't....it's speculation.  It's gambling with a technological twist.

"Those who hold will get rich."  Those that got rich bought years ago and dumb luck made them rich.  The fact that they can see that cashing out as an option as something that they must be prepared to do daily and on a 24 hour basis is what will keep them rich.  For when this bubble pops, lots of people are going to get burned.

[iamTom123]

If "as every minute passes, hundreds of thousands of new users are adopting it" really happen, then bitcoin could overtake fiat in few years later

But, i think some biggest misconception about cryptocurrency are :
1. It's currency for criminal or terrorist.
2. It's scam, ponzi, MLM or MMM.
3. It's not secure and can be hacked.
4. It don't have real value, usage or the price will crash.

I just hope price won't crash too hard once many people invest/use crytptocurrency, otherwise many people will be disappointed and the chance for mass adoption will gone.

The four you enumerated are really valid concerns but slowly but surely we are already witnessing the needed shift in perceptions on those areas. It could never be denied that just like any other currency (US Dollar and all the rest of the fiat money) Bitcoin can be used by anyone regardless of the type of transactions. Unfortunately, since Bitcoin is relatively new people still do not have a broader knowledge about the coin and so the association sticks for a while until things are explained to anyone. We will get there eventually as soon Bitcoin can be able to reach the mainstream and since we now have some celebrities almost endorsing Bitcoin it can help it become more popular.

There will always be misconceptions and wrong associations because we are dealing with people here. Right now, anybody even without any basic knowledge of anything can go to his Facebook account and share his/her zero-based take on anything he has in mind. That is a big reality we have to to contend with.

[theinvestdude]

1. Scam
2. MLM
3. No Value
4. i dont want to go to jail
5. Waste of time

In short most non-bitcoin users are not aware of the value and uses of bitcoins. In mainstream media they only feature bitcoin as a Laundering tool for money and people are being put to jail by using bitcoin

[Schuyler]

One of the biggest misconceptions about crypto currencies is that it is widely used for illegal activities. Although it is partly true, only a small percentage of it is actually taking place. We are living in a digital world and these currencies are surely going to be used more moving forward.  The price alone of bitcoin tells us that the demand has been getting higher, which really benefits those who have wisely been holding for a while now.

[Aur3]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

You can't please every one. Therefore, all can say something positive and negative about cryptocurrency. To those who are negative about it are probably not well-informed about its various benefits it can do. They still need to read more news. The truth is, the technology behind virtual money is guaranteed safe round the clock considering it's protected by a blockchain. The value of cryptocurrency, especially bitcoin and ethereum, are unstoppable. This is the kind of future we need to embrace. We're now living it.   

[xuan87]

The most misconception I heard from the people I try to introduce was
Bitcoin is a criminal currency, it is used only for criminal to buy drugs weapon and illegal stuff
Bitcoin is a Ponzi and MLM because the more you asked people to join the more money you got

But I am agree with Ron most of the people who doesn't want to used Bitcoin always said that Bitcoin is only a passing trend which won't hold for a long time, but the fact is Bitcoin could become the future of transaction and it can become the digital currency that can help a lot of people

[iram1011]

Earlier everyone ignored Cryptocurrencies because they weren't really bigger a phenomenon and not backed by any central authority. Nobody saw any future out of it. But now with more than $ 100 billion marketcap, cryptocurrency have an important part in financial landscape that can't be easily ignored. Today, from banks to government everyone understands the potential of cryptocurrencies and many are scared of this Decentralised monetary system. This fear shows that cryptocurrencies have enough potential to effect these central authorities and hence means they are here to stay.

With increase in adoption and trust, it is quite clear that cryptocurrencies are not going anywhere. Soon more people will join the tribe.

[HasHe]

Yes.I think that people all over the world has started realizing that bitcoin is not just another innovation which could disappear in due course of time.Most of people just rejected to invest in bitcoin at first and now they are regretting for their decision.They have come across lots of scam projects and we could not blame them for not trusting in bitcoin.Bu now,all people and governments have realized that bitcoin could not be discarded more.Thats why we could see legalization of bitcoins in many countries and mass adoption of bitcoin taking place which has resulted in high price of bitcoin crossing $4000 today.

[Yakamoto]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

There is a lot of potential for Bitcoin and other altcoins to become something absolutely massive within the world economy, and by the looks of it, the things that are happening in Asia, specifically Japan, with regards to the technology may be a significant tell of what's to come in the future. Japan just legalized Bitcoin and it hit 46% trading volume within just a few weeks of that happening - that's huge. With the fork having gone through and the technology getting back to where it was; low fees, fast time and small queues, the future looks incredibly bright. I'm interested to see where it goes in the next few years, out to the end of the decade. A lot of things might be changing, and those things are all very important.

[Herbert2020]

“The biggest misconception about cryptocurrency is that it’s just a passing trend,

i don't really think this is the "biggest misconception" about cryptocurrency !
there are a lot of misconceptions, from ponzi scheme to pump and dumps but people either don't understand bitcoin so they stay away because they see the wild price swings and are scared, or they understand it and invest and enjoy the new world's technology.
neither of these groups think it is a "passing trend" though.

[kissmarx]

Cryptocurrencies will be here to stay, it's just the beginning. We don't know when it is going to be obsolete technology. In a hundred years, if this world will survive, though there would be upgrades, some cryptocurrencies we have today will be still in use.

[aTriz]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

If hundreds of thousands of people have been adopting, pretty sure in like less than a day everyone would have adopeted bitcoin.

Anyway getting on to the point here, I think that Ron has hit the point here. When I tried to introduce some people to crypto they just thought it was a fad that was going to die soon.

Think one more misconception is "Bitcoin is a get rich fast scheme"

[IAMYOURLEADER]

1. Scam
2. MLM
3. No Value
4. i dont want to go to jail
5. Waste of time

In short most non-bitcoin users are not aware of the value and uses of bitcoins. In mainstream media they only feature bitcoin as a Laundering tool for money and people are being put to jail by using bitcoin

You forgot to mention Deepweb. Most people that I know have a bad perception on bitcoin. They think of bitcoin the same as the darkweb. They only think that is is just used for illegal crime and activities.

[mk4]

You can't blame the people with their wrong misconceptions though. We barely see any goods news about bitcoin on television. What do we get? News about WannaCry ransomware criminals or hackers in general demanding for X bitcoins, money laundering schemes, the darknet markets using bitcoin to sell illegal drugs, etc. Pretty much 90-95% bad news. Did we get TV news about how bitcoin helped Venezuelan families with their financial freedom Source? I don't think so. The best thing we people could probably do is to prove those wrong. Maybe share some positive news about bitcoin on Facebook or social media?

[DoublerHunter]

The biggest misconception that i know about cryptocurrency is the people think that bitcoin or cryptocurrencies are scam because it is only online and they are not convinced for the possible fast profits because they think that we are scamming other people to just earn money while they didn't know that it is the result of our hard work and determination to do our job pretty good in order to get some bitcoin that will be converted into fiat.

[darligo]

I liked the quote, sounds very optimistic

[ivanst776]

You can't blame the people with their wrong misconceptions though. We barely see any goods news about bitcoin on television. What do we get? News about WannaCry ransomware criminals or hackers in general demanding for X bitcoins, money laundering schemes, the darknet markets using bitcoin to sell illegal drugs, etc. Pretty much 90-95% bad news. Did we get TV news about how bitcoin helped Venezuelan families with their financial freedom Source? I don't think so. The best thing we people could probably do is to prove those wrong. Maybe share some positive news about bitcoin on Facebook or social media?

Exactly. We hear more of a bad than good about bitcoins. With all these bad news around us, we cannot blame people thinking more negative about this crypto currency.

But if hackers want to make their deals in bitcoins then it proves bitcoins a worthy asset. Darknet uses it because it gives them anonymity. The usage of anything is totally everyone's independent choice. Sadly, we live in a bad world fellow!

[twicezeroiszero]

1. Scam
2. MLM
3. No Value
4. i dont want to go to jail
5. Waste of time

In short most non-bitcoin users are not aware of the value and uses of bitcoins. In mainstream media they only feature bitcoin as a Laundering tool for money and people are being put to jail by using bitcoin

You forgot to mention Deepweb. Most people that I know have a bad perception on bitcoin. They think of bitcoin the same as the darkweb. They only think that is is just used for illegal crime and activities.

Because Bitcoin have function anonymous and helps us avoid someone try track our money.
But after the incident BTC-e offline down and BitMixer close their service helps change Bitcoin to fresh currency, I think the define about Bitcoin will change soon

[bitcoinjames6]

One thing that really bugs me is when people associate exchanges with bitcoin itself. An example is when Mt. Gox got hacked and people lost their crypto that was being stored on Mt. Gox. This caused those who do not know about the difference between exchanges and private keys to assume that "bitcoin got hacked."

My ongoing line is to say that holding bitcoin in an exchange is like holding money in a bank account, while holding bitcoin on a private key is like taking money out of a bank account and storing it under your bed (or some other safe area, assuming under your bed is safe). Basically - if the bank gets robbed then your personal money is with you under your bed. Much like bitcoin, in that if an exchange is hacked then you have your bitcoin on a private key.

I know this is an incredibly simplified version - banks have insurance, central record keeping, no armed robber could acquire all the money in a bank in one heist, etc. etc. etc. - but it illustrates the point that holding your private keys gives you complete control over your crypto. Therefore, no exchange "is bitcoin".

[naidray]

One thing that really bugs me is when people associate exchanges with bitcoin itself. An example is when Mt. Gox got hacked and people lost their crypto that was being stored on Mt. Gox. This caused those who do not know about the difference between exchanges and private keys to assume that "bitcoin got hacked."

My ongoing line is to say that holding bitcoin in an exchange is like holding money in a bank account, while holding bitcoin on a private key is like taking money out of a bank account and storing it under your bed (or some other safe area, assuming under your bed is safe). Basically - if the bank gets robbed then your personal money is with you under your bed. Much like bitcoin, in that if an exchange is hacked then you have your bitcoin on a private key.

I know this is an incredibly simplified version - banks have insurance, central record keeping, no armed robber could acquire all the money in a bank in one heist, etc. etc. etc. - but it illustrates the point that holding your private keys gives you complete control over your crypto. Therefore, no exchange "is bitcoin".

Haha! Looks like this stuff has been getting on your nerves lately! But I really enjoyed the way you clarified all the concepts and the difference between exchange hack and bitcoins hack(which does not exist).
A very precious piece of information! Also, Simpler is better so your comment is perfect. This will also help many people in securing their crypto currencies.

[ClvrGmr]

dunno about the hundreds of thousands per minute part.

what does worry me is that it'll become the victim of another dotcom bubble that'll destroy the faith people have in it. once the smoke has cleared then it'll really establish itself just like the companies came out after the dotcom bubble.

there's a good chance greed will overpower any real uses. that doesn't matter in the long run, it does to people holding cryptocurrencies now.

There specifically are generally many misconceptions about cryptocurrencies in a major way. Some people kind of know that there is just 1 crypto, bitcoin to for the most part be precise, sometimes they specifically say it really is easily earned, used for illegal transactions and particularly many more, or so they thought. What this implies generally is the more misconception definitely grow from person to person. The reputation of cryptocurrency will decrease thus, making it less popular and won''t definitely be able to attract investors on its really run in a actually big way.

[Dhaaaw]

If "as every minute passes, hundreds of thousands of new users are adopting it" really happen, then bitcoin could overtake fiat in few years later

But, i think some biggest misconception about cryptocurrency are :
1. It's currency for criminal or terrorist.
2. It's scam, ponzi, MLM or MMM.
3. It's not secure and can be hacked.
4. It don't have real value, usage or the price will crash.

I just hope price won't crash too hard once many people invest/use crytptocurrency, otherwise many people will be disappointed and the chance for mass adoption will gone.

Well, i don't think that 1 & 3 are misconception and that's the biggest issue we face.
Bitcoin is wildly used in the criminal world it's like the blockchain technologies make it easier for them more than anybody else.
And for the security thing, any web wallet can be hacked into and any storage wallet can be stolen if people act carelessly.

[ajmapalo22]

Yes people tend to ignore cryptocurrency and bitcoin before they think that it's just a currency that in due time will die and leave the market...now that it is growing and continue to have a higher value people are now looking for bitcoin and how they can earn from it. The opportunity unlocks in cryptocurrency has been getting popular and the demand starting to rise as the value also appreciate.

[krishnapramod]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

IMO the biggest misconception about bitcoin/cryptos is that they have no real value because they aren't backed by anything. A common misconception which is repeatedly being used by some economists and investors to criticize bitcoin.

Bitcoin is backed by software, mathematics, programmable money, real. Bitcoin has the required characteristics of a currency/commodity: Scarcity, durability, portability, fungibility, divisibility, and recognizability. All these attributes defines value.

Sceptics who have this misconception wouldn't find these attributions satisfactory. There is simple logic, if bitcoin has no value then why people are trading in it? Why people are willing to spend thousands of dollars to acquire it?

Bitcoin isn't something out of thin air, it has a strong foundation. A combination of cryptography and economic incentives, cryptoeconomics. As far as people have confidence/trust in bitcoin/cryptos, they have a real value and as adoption increases, as more people trust them, their value would increase.

[yndye]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

Some of the experts before said that cryptocurrency will just disappear in the future because it has no real value, it has no physical form but what they have failed to realize is that people need something new, something that would solve the existing problems like transparency. Having middlemen to process transaction have imposed some problems like funds not going through, incorrect amount etc. Blockchain technology made it possible for us not to depend to them and just directly transact to the company or people who are concern and through this way, we could monitor in real time and transactions are processed efficiently.

[bitcoinjames6]

One thing that really bugs me is when people associate exchanges with bitcoin itself. An example is when Mt. Gox got hacked and people lost their crypto that was being stored on Mt. Gox. This caused those who do not know about the difference between exchanges and private keys to assume that "bitcoin got hacked."

My ongoing line is to say that holding bitcoin in an exchange is like holding money in a bank account, while holding bitcoin on a private key is like taking money out of a bank account and storing it under your bed (or some other safe area, assuming under your bed is safe). Basically - if the bank gets robbed then your personal money is with you under your bed. Much like bitcoin, in that if an exchange is hacked then you have your bitcoin on a private key.

I know this is an incredibly simplified version - banks have insurance, central record keeping, no armed robber could acquire all the money in a bank in one heist, etc. etc. etc. - but it illustrates the point that holding your private keys gives you complete control over your crypto. Therefore, no exchange "is bitcoin".

Haha! Looks like this stuff has been getting on your nerves lately! But I really enjoyed the way you clarified all the concepts and the difference between exchange hack and bitcoins hack(which does not exist).
A very precious piece of information! Also, Simpler is better so your comment is perfect. This will also help many people in securing their crypto currencies.

Thanks naidray! It has been getting on my nerves LOL. I love to elaborate on the above as well and get into some of the math of bitcoin private keys. I have a Ledger Nano S, and telling people that the odds of hacking my private key on my Ledger is about 2000^24 (2000 words that the Ledger has as a pool and 24 words in a precise order for the private key) - reinforces the security of private keys.

[Prodigan786]

The biggest misconception i seen in my friends circle its always linking with ransomeware or some scam even i ma explaining its just the payment process . Then they will have question about who owns or owner of bitcoin if  say its not owned by any one its decentralised and its uses blockchain technology they dont understand . I think there should be proper education about blockchain technology for the bigger growth of crypto currency.

[bryant.coleman]

I have talked to a few of my friends, and the biggest misconception in their mind is about the divisibility of Bitcoin. They have told me that they can't afford to invest 4.5K at once. So I told them that they can purchase 0.01BTC, for $45. But the question they ask me in return is, how can a coin be divided by 100? The name Bitcoin is to be blamed. It is not easy to explain all these.

[helars2008]

Yes i agree...
It is indeed a misconception to think that cryptocurrency will not last forever.
I believe the day will come wherein fiat will totally be meaningless then cryptocurrency will come in to play...
And thats the day we all needed to be prepared for...

[Mpamaegbu]

If "as every minute passes, hundreds of thousands of new users are adopting it" really happen, then bitcoin could overtake fiat in few years later

But, i think some biggest misconception about cryptocurrency are :
1. It's currency for criminal or terrorist.
2. It's scam, ponzi, MLM or MMM.
3. It's not secure and can be hacked.
4. It don't have real value, usage or the price will crash.

I just hope price won't crash too hard once many people invest/use crytptocurrency, otherwise many people will be disappointed and the chance for mass adoption will gone.

I quite agree with your perspective here. However, the per minute induction of thousands of new Bitcoin users as Ron alleged still remains to be proved. I will deliberately leave that out as mere speculation. This nonetheless doesn't take away anything from the popularity of Bitcoin and its dominance of all cryptos in the world now.

Yes, there has been a whole lot of misgivings about Bitcoin and many had in the past referred to it in different derogatory terms. Some have even termed it a scam. But those of us who are here know better.

[hatshepsut93]

For me the biggest misconception is that it's "currency". At current level, there is no way to scale blockchain and preserve decentralization by having enough average users running full nodes. Even if you take some ridiculous block size like 32 MB, it still won't be enough to compete with banks. This is because users have to store all transactions that were made in history, so people are doing the same work as Visa does, but on their home computers, with very limited resources, and not getting any rewards for it.

Maybe technologies like Lightning Network will the "currency" part of cryptocurrencies: https://medium.com/@rusty_lightning/dear-bitcoin-im-sorry-fees-will-rise-b002b1449054

[poplolnman]

Yes i agree...
It is indeed a misconception to think that cryptocurrency will not last forever.
I believe the day will come wherein fiat will totally be meaningless then cryptocurrency will come in to play...
And thats the day we all needed to be prepared for...

it's even promising when you really know and understand the real purpose of bitcoin invented. feel how good and benefical bitcoin it is. more than how useful fiat today , it's form of financial freedom yeah it's decentralized. also when you know deep enough about how the money concept in bitcoin where noone could regulate it and the supply are fixed , think about how the demands grow so fast.

[bluefirecorp]

I have talked to a few of my friends, and the biggest misconception in their mind is about the divisibility of Bitcoin. They have told me that they can't afford to invest 4.5K at once. So I told them that they can purchase 0.01BTC, for $45. But the question they ask me in return is, how can a coin be divided by 100? The name Bitcoin is to be blamed. It is not easy to explain all these.

Sorry but I was not able to fetch the issue quite clearly. However, I think they have problem with bitcoins in decimal so simply tell them this is how things work in the world of technology. You can make smallest transactions as well as the largest ones in this way. It is one of the plus points of BTC. Also, it should not be a matter of over thinking.

[badungs]

hundred of thousands seems high. I'd perhaps say thousands. But he is right. People will not accept it because they dont understand it. What is the alternative though? gold?

yes, you're.
more people understand about bitcoin, more and more people will accept and make transaction. nothing alternative that can be bitcoin's rival.

never blame people about misconception or whatever, more people try something will make it happen

[kissmarx]

While most people now notice cryptocurrencies, most are ignorant and these newbies try to play the game the veterans play without properly observing first. And what can you expect? Of course they lose. They lose lots of money invested because the noobs think they know and handle the stress, they forgot the basic "buy low, sell high" concept in buy and sell. When prices go down a bit, they immediately panic and sell low in rush thinking they saved their money when in fact they lost some because an hour, or a day, or a week later prices went up higher than the previous highs. What I say is that noobs should first observe the game before actually playing the game. They'll most likely to lose if they don't do right at first time attempt. And these noobs drag the whole markets down coupled with extra factors such as those so-called hackers hacking the exchanges lame excuses scambag exchanges say.

Another thing is that most people think cryptocurrencies are scam because simply they are, they were, or their friends were simply stupid, and they were scammed. While it's true most scammers nowadays use bitcoin or cryptocurrency investment scheme just to scam people, most of the noobs, i say again, are stupids. They dive without testing the waters first. That's how and why some people think cryptos are scam.

Another worst is that there are new coins popping out like popcorn, some are ICOs, some are hyper inflation coins. These coins are mostly designed for scamming people. Their plan B when things go wrong, the devs get to exit with lots of cash from people who are stupid enough to participate. But not all ICOs are scam. Heck, some coins/tokens intended to be scam by devs became successful now. And we know there are many of them. Those devs got luckier their coins didn't end up scam after all. And people who invested became happy. And what about those that end up as scams? Devs still get lucky and ran away with stupid people's cash and then the stupid greedy people of course lose their investments to the greedy devs. It's like a monster eaten by another bigger monster.

And it is funny, you know. Crypto life is funny. Most of the time, you'll never know what bit you until the time you realize you did it yourself because you're noob stupid.

[bungutko]

In my observation, cryptocurrency has this misconception to the people investing cryptos most especially for the new ICO's that after the token sale, they are gone for good leaving behind the investors out of nowhere and I believe this is happening since not all ICO's are true. There are scam ICO reaping the investors money and just leave them behind. Had also observed that during the pre-token sale the value from the start seems to be ok but after the token sale, it just drop very low and not able to recover again.

[sakamaku]

The Biggest Misconception About Cryptocurrency :
- "Bitcoin prices only increase"
It depends and is a matter of time. In the short term this is not always true, the opposite, but in the long run, it has been true until now. Bitcoin's price has risen since the first bitcoin was released in 2009, but prices have remained unchanged for a long time. Although Bitcoin prices are likely to become much higher when technology is open, if the problem of scalability and management issues is solved and when network effects are introduced. However, Bitcoin is increasingly competing with Bitcoin Cash or Bitcoin Gold, as well as other anonymous solutions such as Monero, Zcash, or scalable solutions such as Dash and Stellar, or even Ethereum and platforms. Similarly - if and when they manage to solve the scalability question first.
- "Bitcoin and Blockchain technology are in safe hands"
Modern blockchains such as Bitcoin Blockchain are designed in a very expensive way to manipulate transactions. Hacking data on Blockchain is much harder / more expensive than hacking data on a server. Therefore, Blockchain technology can be considered more secure than server-server technology. However, the technology also introduces new types of security risks: intelligent contract security, the reliability of external data sources (oracles), network attacks, fall attacks three hard.

[IndigoRed]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

Some of the experts before said that cryptocurrency will just disappear in the future because it has no real value, it has no physical form but what they have failed to realize is that people need something new, something that would solve the existing problems like transparency. Having middlemen to process transaction have imposed some problems like funds not going through, incorrect amount etc. Blockchain technology made it possible for us not to depend to them and just directly transact to the company or people who are concern and through this way, we could monitor in real time and transactions are processed efficiently.

I completely agree. How can something that can be of great value (virtual currency and blockhain) just disappear? I thin in time, society will open their minds and eyes to see the true potential of having a virtual currency. I really like what was said about it in a book called Virternity. "VC system is self-fulfilling in the respect that value derives from those who use it. It is thus not based on the traditional benchmarks of creditworthiness and other current mechanisms in place to determine measures of confidence in matters of currency value and its inherent credibility as a reliable exchange medium." True, right?

[jpespa]

Yeah many are adopting it now that's why there are many new coins being created because they are trying to create innovation from the idea of bitcoin. It will never be gone because it's somehow became part of the virtual economic world we have.

[ganjasmokingg]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

I have the same opinion with Ron. He gave a very accurate statement about the thinking of those who left the Cryptocurrency market. Most people think that the Cryptocurrency market only lasts for a certain amount of time and then collapses. They make big mistakes and that will make them lose the chance to become rich.

[pooya87]

The Biggest Misconception About Cryptocurrency :
- "Bitcoin prices only increase"
It depends and is a matter of time. In the short term this is not always true, the opposite, but in the long run, it has been true until now. Bitcoin's price has risen since the first bitcoin was released in 2009, but prices have remained unchanged for a long time. Although Bitcoin prices are likely to become much higher when technology is open, if the problem of scalability and management issues is solved and when network effects are introduced. However, Bitcoin is increasingly competing with Bitcoin Cash or Bitcoin Gold, as well as other anonymous solutions such as Monero, Zcash, or scalable solutions such as Dash and Stellar, or even Ethereum and platforms. Similarly - if and when they manage to solve the scalability question first.

well price won't increase for eternity but it will increase until we reach mass adoption and that is far away and as the adoption grows bitcoin price will grow with it.
you are getting a couple of things wrong here too.
first the price has never been "unchanged" from 2009 till now. it is constantly changing and most of the times the changes are wild. people call bitcoin a "rollercoaster" for that. it is not just a joke.
then the scaling is not something you snap your fingers and is fixed for good for eternity. it is something you improve upon every step of the way and will continue doing so.
and finally these shitcoins you named are just pump and dump shitcoins, none of them are even scalable. ETH network is currently clogged like a toilet, Monero can't handle large number of transactions and had always had a serious problem, ZCash is not as good as Monero and has the similar scaling issues. Dash is centralized bullshi.

- "Bitcoin and Blockchain technology are in safe hands"
Modern blockchains such as Bitcoin Blockchain are designed in a very expensive way to manipulate transactions. Hacking data on Blockchain is much harder / more expensive than hacking data on a server. Therefore, Blockchain technology can be considered more secure than server-server technology. However, the technology also introduces new types of security risks: intelligent contract security, the reliability of external data sources (oracles), network attacks, fall attacks three hard.

complete nonsense. everything has been open source so far and it is not just in the hands of one person, everyone with the knowledge to read code (basic or advanced) can see the code, check it and improve/fix it. as for the "hack" you are describing that doesn't even make sense.

[avoxosuccesful]

i think i agree with ron,i think bitcoin has its relevance and the crptocurrency has shown it's relevance that has also made me to really say that indeed this two are here to stay and not just a myth will be talking about. take time On the off chance that you know somebody working in managing an account or back you could ask them and they'd know to disclose to you that individuals in those enterprises considered e-installments and also e-money. They declined to trust that such patterns could get on yet now they needed to adjust to individuals requests and utilization of innovation. Regardless of whether the theoretical pattern for digital money "passes" the innovation would at present be there, ready to be used.

[tobreak007]

I am afraid of a dot.com bubble that will fly away the market

[gabmen]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

I have the same opinion with Ron. He gave a very accurate statement about the thinking of those who left the Cryptocurrency market. Most people think that the Cryptocurrency market only lasts for a certain amount of time and then collapses. They make big mistakes and that will make them lose the chance to become rich.

It's not just about becoming rich. Crypto will be here to stay because it's technology will advance the way we do things. More than the monetary value of each and every coin in this market, the technology it uses will better the way we do things in the future definitely it's way different from those bubble collapses in the past

[Juggy777]

Definitely it's here to stay the volumes speak for themselves, the number of google searches, people speaking about it says it all. Now many countries are adopting it to and that going to rise sooner. This stupid media has spread fud and the government is encouraging them to spread further fud. I'm glad people are able to see this fud and finally make a right call

[GreatArkansas]

Agree to that. Because cryptocurrency is very helpful in our daily life, cryptocurrency will stay always there. All we need to do is to adapt the cryptocurrency, and we will learn how it works, do research and always keep remember, that most of cryptocurrency now are scam, so careful always.

[mkhadazz]

a misunderstanding about cryptocurrency I used to say cryptocurrency like gambling but it was not, cryptocurrency is pure and buyers and sellers are not like gambling, and that's my misunderstanding about cryptcurrency.

[IndigoRed]

Some of the biggest misconceptions are: Crypto is just a fad, crypto has no value and a single entity (ex. Government or huge corporation) can shut it down. Those are all false.
Cryptocurrencies exist as a result of the belief and faith people have in the market, and its value is based on the law of supply and demand. Its inherent nature allows for much more transparency, which allows for seamless transactions and less corruption. The ability to follow the money in a digital way is an incredible tool. I wish everyone could understand that.

[ansarose1]

For my own understanding, the misconception of some people regarding crytocurrency is that it may harm or damage their investment because it is online, and nowadays online investment is said to be more like scamming.

[Jessica2009]

 One of the biggest misconception about cryptocurrencies  most of the people believe that Bitcoins are currencies . This is because of their lack of awareness about cryptocurrency they think some companies accept crypto because it is a currency they don't understand that it is a deal with the user and the dealer that means a peer to peer transaction . Since Bitcoin is more popular than blockchain people get confused with both blockchain enables the transactions to be recorded on a distributed ledger through the network ,and Bitcoin is the cryptocurrency that can be exchanged directly without a third party.

[jakezyrus00]

I think one of the misconception about crypto is when they hear it, they immediately think that it is easy money, that sooner or later they will become millionaire and billionaire. For me crypto is not like that, yes many people are becoming rich because of crypto but I am sure that they also invest money from it.

[135cc]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

I think im totally agree with this perspective. Many people claiming that cryptocurrency just a periodic phenomena and has no advantages at all. But like what you said, people must realize that crypto is the new thing and need a lot of time to learn about it, but they have to accept it slowly.

[jayveerastrullo]

The biggest misconception about cryptocurrency is that when you invest into cryptocurrency you will gain 100% sure. That a month after you bought a coin it will double the amount. Sometimes it happen but most of the time it would take years for you to gain a lot.

[s31joemhar]

I think the biggest misconception about cryptocurrency are some of  people can see the negative  side about them not the positive side that they do, to help investors to be profitable.

[almaroof]

Most people out there believe bitcoin is a re-branded Ponzi scheme. Even most of the panic sellers in the industry.  Bitcoin is a powerful technology. The revolution has just begun

[BagzMM]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

Crytocurrency have developed because of its users and believers. The misconception is that how the people think it negatively and taking it for granted. People used to get things so easily that's why they don't have the patience for how cryto market works on.

[bitlind]

Everyone is afraid of bitcoin: people are afraid of investing money and losing them (or, conversely, they are afraid that they are not going to invest and bitcoin will get much more expensive), the government is afraid that it can not control bitcoin. And this is normal. Fear is always there.

[karinaloren]

I also think that cryptos are here to stay but another question is still open: there is still little clarity about regulation (as a result there is little clarity about their mass adoption).

[lamthanh3462342]

I agree with you about this, every minute, every second, there are thousands of people involved in this market but they are concerned about the current trend, bitcoin and most other ICOs are on the decline. But that does not matter to those who like Cryptocurrency, and I'm sure this year Cryptocurrency will rebound and investors will see what they expect.

[silviyako]

I think the biggest misconception would be the it is just a digital currency for crimininals and not seeing what it was really intended for. And i'm not sure about that hundreds of thousands of new users every minute.

[lekam0213]

The biggest misconception about cryptos are they are useless and not useful, well those ideas are for those didn't even know about crypto currency and just give thier ideas without even confirming it to those who helped by crypto currency and even change their lives.

[vy99]

The biggest misconception is that it's different from any other investment out there. When the stock market crashes you don't hear people calling it a ponzi scheme, but if Bitcoin drops by a few percent everyone freaks out.

[xcajun21]

If you want to use it, first people must not be afraid. If anything the mass media did, was to announce that is a new technology.
It starts to look more like institutional funds are behind all this. Either you're on board, or not... it does educate people that we are moving forward.
Trust me. Beliefs can be changed, conceptions can be made.

[thetruth123123]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

If you know someone working in banking or finance you could ask them and they'd know to tell you that people in those industries thought the same about e-payments as well as e-cash. They refused to believe that such trends could catch on.

[Sir Cross]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

I agree with this. As long as there are people who are interested in investing and trading cryptocurrencies, it will never die. People are more and more being educated regarding cryptocurrency and the interest of people in it are now adding up. More countries are starting to be more favorable towards bitcoin. Soon, there will be more adoption as much more countries are now choosing to accept the use of bitcoin. It's just a matter of time when bitcoin and blockchain technology will be widespread.

[ajoygb]

Biggest misconception about  Crystocurrency is that we  Can’t Sell My Assets Because There Aren’t Enough People Buying Cryptocurrency, Bitcoin Is Too Prone to Theft to Be a Viable Medium of Exchange. Bitcoin Lacks Strong Regulation.

[orions.belt19]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

If you know someone working in banking or finance you could ask them and they'd know to tell you that people in those industries thought the same about e-payments as well as e-cash. They refused to believe that such trends could catch on.

Most traditional firms will be resistant to this change so there's no surprise that they will react with this way. That is the mistake of many and they will only be missing out if they continue to have this kind of thinking. This kind of thinking has also made others think that the bubble will pop after the hype over bitcoin. When the price has gone down significantly by the start of 2018, this has confirmed the belief of others that bitcoin will crash once it loses its popularity. Sorry to say to these non-believers (or not) but bitcoin is rising and very much alive up to this day despite their claims.

[dmitry6]

I am agree with Ron statement about crypto because many peoples are accepting cryptocurrency every minute also many peoples think its a bubble and soon this gonna be die but many experts already say bitcoin investment is best investment and this will be long live whenever internet exist so who is thinking its a scam than they need to learn firs crypto and blockchain technology.

[Charot12345]

I think the biggest misconception in crypto currency is that it was a scam. When I introduce it to someone they would say that it was a scam because it was online and no one can get high profit instantly or it will pass or die anytime. And some are thinking that they can’t have it because it was only for someone who has a modern technology.

[aqrulesms]

 it is very good that people understand all opportunities that Bitcoin can give them. Cryptocurrency in all his new area of digital money that make everyone who use it independent from the government.

[sandaru]

I think vast majority of the people who are new to the field not only them but also  i myself believe that we can get rich just by entering to the crypto find. So all the ones should understand that if we want to be rich, we have to study the market first and then be with the market for a long time. So therefore, i think that it is one of major myth they are engaging with.

[frowsiter]

lol. After having so many people on board in such short period of time, I dont think that crypto currency is just passing trend which is getting accepted by the people around the globe. I am sure this is well though currency and also blockchain platform which was produced with extreme algorithms so that things can be simplified very well. This is no misconception for sure but the reality of current situation. The crypto currency is already there and we are working on it for the better future. This is noway any trend of something which will pass by and thus make things go disappear.

[Bgbolahan]

People dont really under the underlay technology (Blockchain), Blockchain technology is still undervalued in my own view

[bitcoindusts]

Among the biggest misconception about cryptocurrency is that we don't need it and usage is optional.

If altcoins are alternative-to-bitcoin, bitcoin is misunderstood as alternative-to-fiat currency.  But they are not. Cryptocurrency is a league of their own.

With it comes revolutionary financial approaches and a new state of economical responses. The way we viewed large scale payments were challenged by cryptocurrency in such a way that it became possible to transact without any intermediary and yet, the security remains. In fact, honesty became an integral part of the cryptocurrency payment system as honest peers overthrow malicious attempts to erode the transaction. Unlike the traditional means where greater authority ensembles greater trust. We do not need that great authority anymore, only honest peers and we'll be fine.

[Dread Pirate Roberts]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

They only saw from the price of bitcoin from the past until now that really stole the attention of many people in the investment or financial sector, in fact without really understood why it could happen and what news that accompanied the incident took place. very normal for people who have not been so keen on crypto but immediately conclude with his own conclusions.

[Docnaster]

I think the biggest misconception right now is that cryptocurrency facilitates tax evasion, fraud and money laundering. The truth is, traditional cash currencies are far more anonymous and easily moved around than cryptocurrencies. The vast majority of tax evasion and money laundering uses traditional currency, NOT cryptocurrency. I feel like the luddite officials keep pinning this on cryptocurrency in an attempt to discredit it, annoying!

[AristoteI]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

Yes, I should agree with this statement. However, people are subject to emotions in a much greater degree than common sense. Despite the understanding that crypto currencies are a trend for the near future, many not very patient people manage to continue to receive large losses due to the fact that they do not have the patience.

[minime0105]

In my opinion, the biggest misconception about cryptocurrency is that this is short-term unworthy investment and that it attracts money laundry criminals. Both of these misconceptions are not true, BTC and crypto overall is a game changer and money laundry has always taken place.

[Goodnuel]

I think this is very correct. While a lot of persons keep saying bitcoin and cryptocurrency is a bubble or a passing thing, they overlook that is a groundbreaking innovation that has come to stay. The mass adoption will continue and people will finally get to see its true benefits.

[Pump N Dead]

“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."

 - Ron Chernesky, CEO of investFeed

I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

It is a big mistake if they think that blockchain technology is just a big trend that will passed by. It is like saying that "Internet will pass by very soon". It will not pass by, instead it will help every sector to improve and efficiently execute  their transaction on a daily basis. 

[Dragongin]

 If Bitcoin drops a few percent, everyone is disappointed. If the mass media has done, it is announcing that it is a new technology. Either you are on the train, or not ... it educates people that we are moving forward. Belief can be changed, concepts can be made. Bitcoin lacked strong regulations.