BITCOIN misconceptions

[tobs]

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday?

This is not true at all. Most people I encounter here are actually advocates of HODLing. Although I guess spenders aren't too uncommon either. Pretty much everyone here knows the potential gain of holding.

That's the worst thing that could ever happen to bitcoin and if people minds won't change it will be actually the thing that will end bitcoin. It was supposed to be a currency and regular trade and usage of bitcoins would assure the healthy value growth and real demand. While now, the demand is high only because more people want to buy it. Why do they want to buy it? Because they hope in the future the price will raise. Why the price would raise? It has no usage, so I don't really know why would it be higher. Oh yes, the classic supply/demand. But the problem is that there is no real demand, there are only people driven by the news of new millionaires that have bought bitcoins, waited couple of years and are now very rich, so they want to do the same.

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[justspare]

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

I need to point us to the fact that bitcoin apart from being used as asset,  we can use it as a source of generating income to either dive into another businesses. Things are difficult to come by these days and so,  if we have a source like bitcoin, we can use the income or earnings from signature campaigns to either invest in altcoins or trade to see if we can be lucky to have more of the fractions.

It actually depends on how people perceive things, yes there are people that use bitcoin as an asset, well maybe they have a lot of money that's why they don't need to spend their bitcoin but there are some people that really depends on what bitcoin can give that's why even they don't want to spend their coins they still did and there's nothing wrong with that. Some divert their earnings to fiat and put some ventures so they can have a back up when things turned out unfavorably. Bitcoin is an asset and a currency as well.

It all depends on the way someone has planned the things for himself. Bitcoin is indeed a very good thing and one can plan in number of ways for having a good earning from bitcoin. It is you who has to decide the best possible thing for having good results in the future.

As far as misconception is concerned, it is none other than this thing that it is a digital currency and it will not be able to survive for long time.

[Eternu]

Price of bitcoins are rising and thus people are thinking it will keep on rising forever. This may be right or wrong but one should trade only by knowing the right time and his/her capabilities.

I have also noticed that, I even see some people who claims the price will $1million per Bitcoin one day; all these people are just deceiving themselves. Too bad they don’t even understand how the system works.

We see that everyday, and it is sad to see that some people think that price of Bitcoin will go to 1 million dollars. Some people had made small fortune from Bitcoin, in last few years. Some people still make nice amount of money today, and that is good. It means Bitcoin is used and supported by people. But misconception that price will never stop rising is crazy. Price will stop one day, on how much... well no one can tell. There are just too much people now days that think they will get rich over night...

[vasilischoutas]

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

It's just your view, in my country , you can sell or buy Bitcoin but it's not a legal method payment. Or worst you could be lock in jail if you used Bitcoin to paying something instead of cash.

[logicgate]

I agree with you some are living daily jobs just to focused on signature campaigns.Making it as priority and only source of income instead of alternative source so they could hold it for the future to earn more profit .Some also rely their dreams only through bitcoin.It could be possible but we must also be ready to deal with failures just like the volatility of bitcoin there's also a probality that our dreams will be volatile too when our only source is bitcoin.So it's better to learn and be updated all the time,do our own research and not to trust right away.If there's a decent job then give a good service while working with bitcoin at the same time.It's just like hitting one bird with two stones- reaching your dreams through hardwork and with bitcoin.

Yeah trend is here many of people are doing so and bitcoin so promising that people think that working in an office for hours and still getting a fixed salary and now the choice is here without working hard just invest on right time and selling on right time will lead you to the happy life and this is the best thing available now and more of it bitcoin is best way to achieve your dreams easily and faster than before.

[perfect999]

I agree with you some are living daily jobs just to focused on signature campaigns.Making it as priority and only source of income instead of alternative source so they could hold it for the future to earn more profit .Some also rely their dreams only through bitcoin.It could be possible but we must also be ready to deal with failures just like the volatility of bitcoin there's also a probality that our dreams will be volatile too when our only source is bitcoin.So it's better to learn and be updated all the time,do our own research and not to trust right away.If there's a decent job then give a good service while working with bitcoin at the same time.It's just like hitting one bird with two stones- reaching your dreams through hardwork and with bitcoin.

Yeah trend is here many of people are doing so and bitcoin so promising that people think that working in an office for hours and still getting a fixed salary and now the choice is here without working hard just invest on right time and selling on right time will lead you to the happy life and this is the best thing available now and more of it bitcoin is best way to achieve your dreams easily and faster than before.

There is no reason to deny this fact that bitcoin is the best thing in order to make your dreams come true. The thing is there are so many misconceptions about the bitcoin in the minds of so many people like us. The most common misconception which is creating lot of troubles for the newbies is that bitcoin is going to have no existence in the future and soon it will lose its value.

[StarofBTC]

Some that do make a living from campaigns either they are in very good signiture campaigns or they can get more for their money. Bitcoin is very much an asset and not a currency at this point its far to volatile to be used as an everyday currency.

This is the big misconception of bitcoin that people depends on signature campaign and using signature campaign for their source of income. Basically signature campaign is not a real business and in this regard people must have to clear their concept about bitcoin. They must have to learn about bitcoin and move towards trading of bitcoin to realize the reality of bitcoin.

Some people are seeing bitcoin being a fake currency although they see that people are getting benefit from it. Basically they have no any concept of technology that’s why their concept are not clear but they must have to evolve their knowledge about bitcoin.

[redsun114]

We can't judge them by using bitcoins to buy something they need. It is better to make decision for yourself rather than others. They might really use bitcoins for their everyday lives. Maybe they make bitcoins us business and they might have many bitcoin accounts where every account have a different usage.

Yes that’s true, but sometimes we need to judge them, especially when they try to take it very far. They shouldn’t forget what it is and what it was meant for– INVESTMENT & PEER TO PEER TRANSACTION. I see some people hating on Amazon and eBay for not accepting Bitcoin as their method of payment, I just call these people mad men lol.

Bitcoin was never meant for that, if you feel like you want to buy something from all those big online stores, then you should withdraw some of your Bitcoin to real money and then buy it the right way. SIMPLE!

[h0lybyte]

Nowadays bitcoin is acceptable everywhere other than a few areas of world that have less than normal progress in economy.
Bitcoin is global currency used to pay and get paid almost everywhere on internet and you don't need to wait days for the payment to reach your account.
The special factor in bitcoin is its regular market volatility due to which people like to acquire more and more bitcoins.

[appleffi]

One of Bitcoin misconceptions is to whether it can be used as a direct medium of exchange. As of now, some of the online products and services can be bought or payed directly to bitcoin. And for some ways it can be converted/exchanged to your country's currency through your e-wallet and banks that accepts btc exchange.

[adzino]

People who quit their job to focus on campaign, i wonder where do they live.No way someone can go on with $70-80 per week unless they live in a developing or underdeveloped countries. Its much better to do a job and buy bitcoins with their portion of savings and hold the coins.

One of Bitcoin misconceptions is to whether it can be used as a direct medium of exchange. As of now, some of the online products and services can be bought or payed directly to bitcoin. And for some ways it can be converted/exchanged to your country's currency through your e-wallet and banks that accepts btc exchange.

I don't think that's a misconception. Bitcoin can be used as a direct medium of exchange, its just the people who are not willing to accept the technology.

[lordquanta]

One of Bitcoin misconceptions is to whether it can be used as a direct medium of exchange. As of now, some of the online products and services can be bought or payed directly to bitcoin. And for some ways it can be converted/exchanged to your country's currency through your e-wallet and banks that accepts btc exchange.

This is a fact and not a misconception. There are services which could be purchased using bitcoin directly. There are some companies which are offering bitcoin gift cards which will let you use that card as normal card for purchasing.
About bitcoin conversion, that is how it works through out the world. First there are service providers or exchanges in most countries which sells and purchases the bitcoin for fiat currency. So when you want to buy some coins or cashout your coins you actually go through that process.

[senne]

I don't agree with this. I guess everyone who is associated with bitcoin knows the worth of holding.
Many of the users are spending their bitcoin but most of them are doing it wisely but keeping some of the bitcoin as holding. Other fact is that many people in the forum are doing bounties and campaigns to get some money out of it as many of them have left their jobs or some of them are students or  housewives who just want to make some extra bucks. For those who left their jobs for bitcoin, obviously they will spend some of it for their living's sake.                                                   

[Monnt]

I agree with you some are living daily jobs just to focused on signature campaigns.Making it as priority and only source of income instead of alternative source so they could hold it for the future to earn more profit .Some also rely their dreams only through bitcoin.It could be possible but we must also be ready to deal with failures just like the volatility of bitcoin there's also a probality that our dreams will be volatile too when our only source is bitcoin.So it's better to learn and be updated all the time,do our own research and not to trust right away.If there's a decent job then give a good service while working with bitcoin at the same time.It's just like hitting one bird with two stones- reaching your dreams through hardwork and with bitcoin.

Yeah trend is here many of people are doing so and bitcoin so promising that people think that working in an office for hours and still getting a fixed salary and now the choice is here without working hard just invest on right time and selling on right time will lead you to the happy life and this is the best thing available now and more of it bitcoin is best way to achieve your dreams easily and faster than before.

There is no reason to deny this fact that bitcoin is the best thing in order to make your dreams come true. The thing is there are so many misconceptions about the bitcoin in the minds of so many people like us. The most common misconception which is creating lot of troubles for the newbies is that bitcoin is going to have no existence in the future and soon it will lose its value.

The problem why some people usually have such misconception is because they have no idea what is going on and some people just see it as a get rich quick scheme or a HYIP without even knowing its value. It is normal, we will always see people like this and there is no doubt about that.

As you have said, bitcoin is more like a dream come true, the seasons we have always been waiting for when we can even send cash across borders without any limitations or where the government will not just be making decisions only for their own benefit at the expense of the masses.

[reflector]

I agree with you some are living daily jobs just to focused on signature campaigns.Making it as priority and only source of income instead of alternative source so they could hold it for the future to earn more profit .Some also rely their dreams only through bitcoin.It could be possible but we must also be ready to deal with failures just like the volatility of bitcoin there's also a probality that our dreams will be volatile too when our only source is bitcoin.So it's better to learn and be updated all the time,do our own research and not to trust right away.If there's a decent job then give a good service while working with bitcoin at the same time.It's just like hitting one bird with two stones- reaching your dreams through hardwork and with bitcoin.

Yeah trend is here many of people are doing so and bitcoin so promising that people think that working in an office for hours and still getting a fixed salary and now the choice is here without working hard just invest on right time and selling on right time will lead you to the happy life and this is the best thing available now and more of it bitcoin is best way to achieve your dreams easily and faster than before.

There is no reason to deny this fact that bitcoin is the best thing in order to make your dreams come true. The thing is there are so many misconceptions about the bitcoin in the minds of so many people like us. The most common misconception which is creating lot of troubles for the newbies is that bitcoin is going to have no existence in the future and soon it will lose its value.

The problem why some people usually have such misconception is because they have no idea what is going on and some people just see it as a get rich quick scheme or a HYIP without even knowing its value. It is normal, we will always see people like this and there is no doubt about that.

As you have said, bitcoin is more like a dream come true, the seasons we have always been waiting for when we can even send cash across borders without any limitations or where the government will not just be making decisions only for their own benefit at the expense of the masses.

If you have balance in your wallet means you can show that to the person who is not believing it. I am sure that they will believe it then.
Explain the complete evaluation of the bitcoin show the initiall time to present value price graph. They have to clear idea about the bitcoin. Every people attract to bitcoin because of the bitcoin's price value only.