Common misconceptions about Bitcoin.

[Gooner0]

>>They are so many misconceptions about Bitcoin, if I should start mentioning I could end up being bored while typing. The list goes on and on.
I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.
He said a lot to back his claims which although I can't remember his pin points though.
I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

[Plaguedeath]

Mostly the naysayers are people who get scammed over their own stupidity like buying shitcoins, invest in ponzi scheme, paying fee to unlock reward in fake CEX etc and some of them never buy Bitcoin at all.

The most easy thing is learning while practicing, know how to pick the secure wallet and know about basic security. I've hold Bitcoin for four years and never got hacked which proving if Bitcoin is secure.

[Poker Player]

There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

Not really. In this forum probably if you find people who have these misconceptions it is because they are newbies. The tackle them thing I would leave it alone. There are people who when the price of Bitcoin was under $100 said it was going to go to 0 and they are still saying it. Don't tell people there is a gold mine, you better grab a pick and shovel.

[pooya87]

Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.

That's very common and not just about Bitcoin, but about literally anything. People perceive things differently and when in 21st century we still have people who believe that earth is flat we can't really expect much from humanity about more complex and less common topics such as Bitcoin.

There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

First we have to educate ourselves so that we actually know how Bitcoin works then we can explain it to them kindly if they were interested in learning about it. If they are not interested, then just move on. It is not our responsibility to educate others.

[Pmalek]

One common misconception that I have heard often from my friend circle is how lucky I am to own bitcoin and how they will never have enough money to invest in and buy one whole bitcoin. It amazes me every time, regardless of how often I explain it to them that bitcoin is divisible enough, making it possible that you buy $1 worth of it if you want. To that they say that it would look silly if they owned only 0.00001 BTC or something like that. Sadly, there is no helping some people.

[anarkiboy]

I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.

He is definitely wrong, Bitcoin is controlled by at least couple entities:

https://youtu.be/eafzIW52Rgc?t=1049

[KiaKia]

Misconceptions in Bitcoin space starts and ends with newbies and market manipulators, Bitcoin is the most simplest digital asset to understand, all you have to do is your own assignments, with access to the internet you will understand Bitcoin in no time but if you are a lazy type you will believe the nonsense that people who don't understand bitcoin are saying.

Don't be stupid enough to believe what anyone say, do your own research.
With Bitcoin, seeing should be believing, DYOR.

I've heard a lot from many people who don't believe in what Bitcoin is offering the world, I choose to believe in myself and today these same people are now learning about Bitcoin, if I have listened to them years ago I would have missed out a lot.

[_act_]

I see people posting about newbies to only have the misconceptions, but also bitcoin critics have the misconceptions also. I think those critics sometimes may know the truth but prefer to go the other way.

Misconceptions in Bitcoin space starts and ends with newbies and market manipulators

I just want to correct this part. You can say that misconceptions about bitcoin can start from newbies and end when they have enough knowledge about what bitcoin is, but there is no need to mention market manipulators because it has nothing to do with this thread at all.  Market manipulators can have good knowledge about bitcoin. Even they will likely have enough knowledge about bitcoin and how to manipulate the altcoins (low market cap coins) market.

[Barikui1]

There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

Not really. In this forum probably if you find people who have these misconceptions it is because they are newbies. The tackle them thing I would leave it alone. There are people who when the price of Bitcoin was under $100 said it was going to go to 0 and they are still saying it. Don't tell people there is a gold mine, you better grab a pick and shovel.

I totally agree with all you said here, because it's mostly those that have no knowledge of Bitcoin and all it entails that mostly thinks that way, and saying so because I have been in such space before, when I was totally misinformed about Bitcoin and how it works, I stayed away from it completely because I initially thought that it was one of the new ponzi scheme out there after MMM, because in my country, during that time that MMM went away with people hard earned money, that was when I heard of Bitcoin, I thought that is one of this Ponzi scheme  just as MMM, because that's what almost everyone sees it as at then, but with time, I  started getting the right information about Bitcoin and I started feeling regret that I missed the opportunity to acquire it when it was a lot cheaper, so in essence of what am trying to say is that, it's most newbies or completely novice just as you rightfully said  wether in this forum or not that takes Bitcoin as such, base on what they were told.

[Z-tight]

the question is how do we tackle this misconceptions?

The network kind of tackles it itself, i mean, some people have been waiting for the bubble to bust, they have been waiting for the network to collapse all these years, but none of that has happened, even the government now knows that BTC is here to stay, and they are now trying to regulate it and some are even campaigning with it.

However, if you know people who believe in some of these misconceptions, you can try to educate them, but that is if you yourself have enough knowledge to do that.

[tabas]

>>They are so many misconceptions about Bitcoin, if I should start mentioning I could end up being bored while typing. The list goes on and on.
I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.
He said a lot to back his claims which although I can't remember his pin points though.
I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

You don't even get serious upon hearing that from someone who isn't knowledgeable about Bitcoin after saying that it's controlled by a single entity. Bitcoin is decentralized and that's why there is no central authority that is controlling and can control it. It's no doubt that whoever has the most holdings of Bitcoin can manipulate a bit the market but soon, it will stabilize on its own. And for the miners, the hash power of it is said to be that whoever has it can also control the network. But how are and are they controlling it? it's even the opposite that many quit mining because they can't handle the difficulty of hash rate anymore. I'd say that one misconception about Bitcoin is that it will make someone rich overnight. 

[serjent05]

There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

By giving information that is supported by facts.  Just like when your friend states that Bitcoin is being controlled by a single entity, you can refute it by giving him links that have been verified true by the Bitcoin community on how Bitcoin decisions are made. 

About the Bitcoin security, you can just challenge that person to hack the Bitcoin network and see for himself that whether his belief is right.  Misconception is often handled by giving them a non-refutable fact that counters their belief.  If they don't accept that, then just let them be.  It would be them who will look like a joke if they keep clinging to their misconception.

[Hewlet]

The categories of people that hold the bolk of misconception about Bitcoin are newbies, Bitcoin skeptics, anti Bitcoin folks and those that have been victim of ponzi schemes. All these set of people can be classified as a combination of ignorant people and haters.  It's deficult for someone that has been in the Bitcoin system to still hold on to such claim that Bitcoin is being controlled by a single entity. If that's true then I would be very much interested to know who those entities are.

One major misconception a lot of people though mostly newbies still don't want to let go of is this get rich quick thought that they attribute to Bitcoin which makes them think that holding Bitcoin for a long period of time will automatically translates to them becoming rich. It's a strange and false concept but I guess that's what being a newbie allows you to. You get to assume so many things and get a lot of narrative wrong but with time you eventually come to terms with what's really true and that's when you've actually grown enough as a full blown Bitcoinner.

[peter0425]

Mostly the naysayers are people who get scammed over their own stupidity like buying shitcoins, invest in ponzi scheme, paying fee to unlock reward in fake CEX etc and some of them never buy Bitcoin at all.

These are the same people who are very close-minded. Because of what they experienced, they tend to generalize all crypto and they will keep believing that it is dangerous and shall be avoided at all costs.

The most easy thing is learning while practicing, know how to pick the secure wallet and know about basic security. I've hold Bitcoin for four years and never got hacked which proving if Bitcoin is secure.

You would learn more through experience that is true. Being here in the forum and actively participating can open up a lot of people's minds. Let them see for themselves and learn the real concept of bitcoin and crypto through many members of it just in one platform.

[lovesmayfamilis]

I would answer with an expression that is now very active on the Internet, although it hardly belongs to a famous writer:
"Never argue with idiots. You will sink to their level, where they will crush you with their experience" If someone misinterprets the usefulness of Bitcoin, that is his right; let him. I will not get involved in an argument; moreover, I have nothing to talk about with such "deeply assertive smart guys."  Time will put everything in their heads in place. The problem is actually on their side; while smart people buy, other "smart people" waste time.

[ultrloa]

Mostly the naysayers are people who get scammed over their own stupidity like buying shitcoins, invest in ponzi scheme, paying fee to unlock reward in fake CEX etc and some of them never buy Bitcoin at all.

The most easy thing is learning while practicing, know how to pick the secure wallet and know about basic security. I've hold Bitcoin for four years and never got hacked which proving if Bitcoin is secure.

That's the most craziest accusation we could able to see especially if they link on bitcoin about those things happened to them. But if they realize that they are the one who made that stupid mistake for believing someone or the platform that they need to spend something before they can access some feature or get more bigger share to the scam coins they are participating for sure they are the one who will correct those past misconceptions they say on bitcoin.

I guess nothing is easy for newbie but if they are resourceful type of person where they do research first before taking decisions on each actions they do then maybe they can do good decision towards everything what they want to do with their bitcoins. Aside knowing which is best wallet for them its best for people to know about methods use by hackers so that they can avoid to get compromise by any possible attempts done by those cyber criminals.

[Easteregg69]

>>They are so many misconceptions about Bitcoin, if I should start mentioning I could end up being bored while typing. The list goes on and on.
I had an argument with a friend just yesterday, who seemingly believes that Bitcoin is being controlled by a single entity and Bitcoin is not secure.
He said a lot to back his claims which although I can't remember his pin points though.
I knew once that he doesn't really know much about Bitcoin so I decided to back out of the argument.
Misconceptions like this are merely caused by lack of education (Bitcoin related) and sometimes education in general.
There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

I know him. He can't handle if you ask if you ask him to get a string on his ugly bastard dog. What he can handle is to drive you down to his level with absolute nonsense.

You avoid him and his stupid dog. You can't help them.

[anarkiboy]

I know him. He can't handle if you ask if you ask him to get a string on his ugly bastard dog. What he can handle is to drive you down to his level with absolute nonsense.

You avoid him and his stupid dog. You can't help them.

I think everyone knows him 

[red4slash]

That means they don't really understand bitcoin and what they see is just a grapevine from some news, especially for conspiracy-like information that makes them believe even though they don't understand what they are actually saying.
Things like this are still a situation that exists among ordinary people about bitcoin especially if they know bitcoin and only aim to bring down bitcoin then it is clear that this will always be rumored so I think sometimes we don't need to take care of this kind of thing because in the end it will only keep you busy yourself with debates that don't even have any benefit.

In addition, they also don't want to find out more about the truth so when we provide facts that contradict the claims they think are true, it won't be useful because they won't accept the facts.

[Rruchi man]

There even might be people in this forum who have similar misconceptions, the question is how do we tackle this misconceptions?

Any member of this forum who still has the wrong idea about bitcoin will be based on the fact that they are new here in the forum and have not done enough reading. Many misconceptions about Bitcoin have been cleared in this forum and some newbies who join this forum with those misconceptions were lucky enough to read through these topics when they were addressed now have a stronger view of what Bitcoin actually is.

The majority of people who have a misconceived idea about Bitcoin do so because their idea about Bitcoin was something they adopted, not an original finding that they carried out research on.