Common misconceptions about Bitcoin.

[Maslate]

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.

It's a good thing to educate them and hand them some links where they can refer for verification. However, they have all the chances to accept it nor stick to their own beliefs because they think they already know bitcoin very well. When that happens, better to leave them and ignore them. They will laugh on their own mistakes one day and blame theirselves for not knowing earlier.

[Onyeeze]

If bitcoin is being controlled by particular set of people by now bitcoin would have gotten to hundred thousand, and the existence wouldn't have take this long, because people of different kind could not trust bitcoin when it was newly invented, so I know very well that bitcoin people condemn it and later same people that condemns it are same that have values bitcoin later, don't believe in criticism mostly when you have the passion on bitcoin, since the Year satoshi introduced bitcoin partially it has gotten a milestones of fifteen years if I'm not mistaken

[KingsDen]

Almost the same story happened to me, there is a friend of mine who believes that Bitcoin is centralized and controlled by one entity in secret (just like the hidden government theory), I tried a lot to explain to him and convince him that Bitcoin is decentralized and no one person or entity can control it, but he is full of conspiracy theories.

The solution is simple in such cases, just ignore him and move on with your life, after that with time he will understand that he was wrong and that he missed the opportunity to benefit from believing in Bitcoin.

I have heard if many misconceptions about bitcoin in the past years, but I have never heard of a strick claim that bitcoin is centralized. If I should encounter such a misconception, I don't think it will be very difficult for me to explain and clear their doubts.
If bitcoin is centralized, by now one strong government should be controlling it and governments shouldn't be struggling to ban or undo bitcoin then. It should be a war of one government against the other.
Nowadays, I no longer see many misconceptions about bitcoin, but rather regrets of not joining the bandwagon early.

[tread93]

>>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?

It’s so true there are so many misconceptions , most are held from word of mouth he said she said and aren’t based on anything but fluff. Those folks don’t do their own research or know the first thing about Bitcoin they just hate it the same way folks hate Donald Trump

[pinggoki]

If bitcoin is being controlled by particular set of people by now bitcoin would have gotten to hundred thousand, and the existence wouldn't have take this long, because people of different kind could not trust bitcoin when it was newly invented, so I know very well that bitcoin people condemn it and later same people that condemns it are same that have values bitcoin later, don't believe in criticism mostly when you have the passion on bitcoin, since the Year satoshi introduced bitcoin partially it has gotten a milestones of fifteen years if I'm not mistaken

Somewhat agree on this fact but I got to say that maybe these people that conspiracy theorists have been so scared of when it comes to bitcoin being controlled by something or some shady organization, it might also be possible that people that are supposedly "controlling" bitcoin are smarter than what we give them credit for and that they're probably biding their time at an even longer pace than what most of us would think is humanly possible but other than that, the evidence that supports the fact that bitcoin is controlled by anyone or any group is pretty flimsy in my opinion.

[Mr.right85]

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.

Bitcoin isn’t controlled by any single individual or an entity, most persons knows that. Bitcoin isn’t subject to any form of censorship. It’s the one truly decentralized asset in cryptocurrency.

He said a lot to back his claims which although I can't remember his pin points though.

It would have been really nice to hear what backings he had for the things he said of Bitcoin. I suppose those where the catch go better his understanding.

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.

Your friend wasn’t going to learn nothing from an argument, just as you learned of his ignorance and backed out due to misconceptions, he obviously would be so focused on being right than wrong and learn.

[Fara Chan]

>>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?

The most effective way to overcome such misconceptions is to not argue when you have already given him the correct understanding. Because such people will usually stick to their own arguments even if others have deemed them wrong and they still won't accept opinions from others. So you have done the right thing by withdrawing from that person and not responding to that person's arguments which could waste your time on him, because in the end he will not believe what you say about Bitcoin.

[Yatsan]

>>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'm here for a little while now so i think the wrong notion about bitcoin shall have to be addressed by a combination of education and healthy debate. Most of the misunderstanding comes from ignorance of how Bitcoin works. One should give clear exact information, explaining that Bitcoin is decentralized and managed by distributed computers, not just some powerful central entity. It is secured with approved mechanisms like Proof of Work and principles of cryptography. A lot of misinformation can be corrected by patient talking and evidence-based explanations, by listening to the other party's concerns. Another way to correct the bad information is by appeal for critical thinking, whereby others are challenged to verify information through trusted sources. By focusing on these strategies, you can help dispel myths and encourage more informed conversations about Bitcoin.

[Mame89]

>>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?

It’s so true there are so many misconceptions , most are held from word of mouth he said she said and aren’t based on anything but fluff. Those folks don’t do their own research or know the first thing about Bitcoin they just hate it the same way folks hate Donald Trump

Misunderstandings can occur due to a lack of in-depth understanding or getting information from the wrong person. In fact, if you really do your own research on bitcoin introduced by Satoshi until now, it is undeniable that bitcoin is a future asset because every year it develops and bitcoin becomes an asset that can protect value from inflation.

Many people consider bitcoin a scam or something like that because they get the wrong information, so misunderstandings can occur if we don't have enough knowledge, especially if we are lazy to do our own research. To overcome this, look for more references from accurate sources, don't be lazy to read and don't be easily influenced by other people's information before doing your own research.

[Taskford]

>>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?

It’s so true there are so many misconceptions , most are held from word of mouth he said she said and aren’t based on anything but fluff. Those folks don’t do their own research or know the first thing about Bitcoin they just hate it the same way folks hate Donald Trump

Misunderstandings can occur due to a lack of in-depth understanding or getting information from the wrong person. In fact, if you really do your own research on bitcoin introduced by Satoshi until now, it is undeniable that bitcoin is a future asset because every year it develops and bitcoin becomes an asset that can protect value from inflation.

Many people consider bitcoin a scam or something like that because they get the wrong information, so misunderstandings can occur if we don't have enough knowledge, especially if we are lazy to do our own research. To overcome this, look for more references from accurate sources, don't be lazy to read and don't be easily influenced by other people's information before doing your own research.

And we can't avoid to encounter those misconceptions or misunderstanding since not everyone could understand easily bitcoin and what they only believe on those narrow information they know especially if they don't have further interest about it.

If they could just learn a lot of things and try to deep dive on the information they could possibly search for sure those word scam towards bitcoin will never came into their minds and for sure that they provably know that bitcoin is currency and just been used by those scammers online. But many choose to be lazy to educate their selves that's why those misconceptions happen to those people who don't have knowledge about bitcoin.

[legendbtc]

Almost the same story happened to me, there is a friend of mine who believes that Bitcoin is centralized and controlled by one entity in secret (just like the hidden government theory), I tried a lot to explain to him and convince him that Bitcoin is decentralized and no one person or entity can control it, but he is full of conspiracy theories.

The solution is simple in such cases, just ignore him and move on with your life, after that with time he will understand that he was wrong and that he missed the opportunity to benefit from believing in Bitcoin.

If your friend is a skeptic, who likes to believe in conspiracy theories like anonymous governments, our world being controlled by underground forces...then his skepticism towards Bitcoin is also not too surprising. Even if this vast world is controlled and manipulated, bitcoin technology will be nothing in their eyes,  .

I also have friends who are paranoid, always like to hypothesize and believe in conspiracy theories but there is no evidence to prove what they say. So let's not waste time with those people if we don't want to be stuck in the same place as them. The best way to talk to them is results, when they see the results of our bitcoin investment, they will know what they did wrong and what they missed.

[mirakal]

>>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?

The most effective way to overcome such misconceptions is to not argue when you have already given him the correct understanding. Because such people will usually stick to their own arguments even if others have deemed them wrong and they still won't accept opinions from others. So you have done the right thing by withdrawing from that person and not responding to that person's arguments which could waste your time on him, because in the end he will not believe what you say about Bitcoin.

Listening to their (wrong) arguments and correcting them makes them feel that someone cares about them. 

This is not wasting time, but rather helping these people know the truth and leave the wrong information they have in mind. It's up to them to accept reality, but as a concerned citizen, I don't think we leave them like that; instead, we help them to be right. An open-minded person is willing to accept corrections for their mistakes and is willing to change their beliefs. There is no instant change that happens; they will soon find it right and go with it, having the right information in their heads. 

[tygeade]

And we can't avoid to encounter those misconceptions or misunderstanding since not everyone could understand easily bitcoin and what they only believe on those narrow information they know especially if they don't have further interest about it.

If they could just learn a lot of things and try to deep dive on the information they could possibly search for sure those word scam towards bitcoin will never came into their minds and for sure that they provably know that bitcoin is currency and just been used by those scammers online. But many choose to be lazy to educate their selves that's why those misconceptions happen to those people who don't have knowledge about bitcoin.

I would say that it is not our responsibility to make them understand it though, it is not our job, they either learn it like us or its their own problem that they do not know much about it. I personally believe that we should not feel any responsibility about it, that's not going to be all that easy to handle for anyone.

I understand that we are going to live something that would be a little bit harder to handle if we are limited amount of people and we do not get new people, we do require some new people constantly to keep it growing, but I feel like we do not need to hold their hands when we do that, nobody did that to me and I bet not to many people and we are still here, so we do not need to do it to new people who will come in.

[Dr.Bitcoin_Strange]

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.

Well, you already said that it is only the lack of Bitcoin knowledge that causes some individuals to have misconception about Bitcoin, some persons don't have knowledge about Bitcoin and some persons don't like Bitcoin because of it's volatile nature. The major cause of Bitcoin misconception in some people is the lack of proper Bitcoin knowledge.

[stadus]

Almost the same story happened to me, there is a friend of mine who believes that Bitcoin is centralized and controlled by one entity in secret (just like the hidden government theory), I tried a lot to explain to him and convince him that Bitcoin is decentralized and no one person or entity can control it, but he is full of conspiracy theories.

The solution is simple in such cases, just ignore him and move on with your life, after that with time he will understand that he was wrong and that he missed the opportunity to benefit from believing in Bitcoin.

I have heard if many misconceptions about bitcoin in the past years, but I have never heard of a strick claim that bitcoin is centralized. If I should encounter such a misconception, I don't think it will be very difficult for me to explain and clear their doubts.
If bitcoin is centralized, by now one strong government should be controlling it and governments shouldn't be struggling to ban or undo bitcoin then. It should be a war of one government against the other.
Nowadays, I no longer see many misconceptions about bitcoin, but rather regrets of not joining the bandwagon early.

You know if we will talk about people's misconceptions about bitcoin, there's always a lot especially that how the government treated bitcoin, it only adds to another misconception. But we all know there's only one solution to that, educate oneself and DYOR. If they chose to believe on their own concept, they will always misunderstood forever, and will be left as a laughing stock whenever they get conversation with bitcoin's enthusiasts that are highly knowledgeable about bitcoin. And I don't think they just let it happen so they need to make an in-depth research as much as possible.

[Obim34]

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.

Well, you already said that it is only the lack of Bitcoin knowledge that causes some individuals to have misconception about Bitcoin, some persons don't have knowledge about Bitcoin and some persons don't like Bitcoin because of it's volatile nature. The major cause of Bitcoin misconception in some people is the lack of proper Bitcoin knowledge.

Yes, among of them is not having the Bitcoin related knowledge and still not wanting to learn about it. Bitcoin came into the market with criticizers right from the beginning, while many has pathed ways with such doubts, also some set of them who still retain those hatred for Bitcoin and they will continously try to prove their point to others but if anyone could be smart enough to not just accept what he/she heard and try to carry out further researches, only then can we clear those misconceptions.

[yhiaali3]

If bitcoin is centralized, by now one strong government should be controlling it and governments shouldn't be struggling to ban or undo bitcoin then. It should be a war of one government against the other.

Yes, I agree with you, but my friend believes that there are hidden entities that control Bitcoin in secret, not governments, meaning influential people or secret organizations and so on. Of course, I completely disagree with him and I tried to explain to him more than once the nature of Bitcoin, how it works, and how it is distributed to nodes distributed throughout the world and so on, but it is difficult to convince someone who believes in such a conspiracy theory, so it is better to leave him.

[fuguebtc]

If bitcoin is centralized, by now one strong government should be controlling it and governments shouldn't be struggling to ban or undo bitcoin then. It should be a war of one government against the other.

Yes, I agree with you, but my friend believes that there are hidden entities that control Bitcoin in secret, not governments, meaning influential people or secret organizations and so on. Of course, I completely disagree with him and I tried to explain to him more than once the nature of Bitcoin, how it works, and how it is distributed to nodes distributed throughout the world and so on, but it is difficult to convince someone who believes in such a conspiracy theory, so it is better to leave him.

If bitcoin were centralized, what would make it so attractive and attract our attention?  If bitcoin is centralized , what makes it different from other altcoins or fiat currencies? There is no denying that until now most of us have been more focused on its price than anything, but bitcoin's success is entirely dependent on its decentralized nature. Because if it is centralized, it will be destroyed or become useless from the beginning . Basically, bitcoin has been decentralized from the beginning, it is not under the control of anyone including its creator .

Bitcoin can be manipulated because it is so small compared to other assets , but if someone thinks that the bitcoin network is controlled by underground forces , I will not believe it .

[Catenaccio]

If bitcoin were centralized, what would make it so attractive and attract our attention?  If bitcoin is centralized , what makes it different from other altcoins or fiat currencies?

There are many altcoins with smaller total supplies than Bitcoin but those altcoins failed to get higher values and market prices than Bitcoin. Because total supply is only a number which is set up by the founder, developer but it is not enough to create intrinsic value of that cryptocurrency and to get good price on the market, their founder and developer must build up a good project to convince community to invest money in that cryptocurrency.

Altcoins fail at this vital point, without good ideas, developments, no value hence no good price or zero price in the market. The popular ending for most of altcoins, is death, either shortly after launch or after several years.

[Farma]

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.

Well, you already said that it is only the lack of Bitcoin knowledge that causes some individuals to have misconception about Bitcoin, some persons don't have knowledge about Bitcoin and some persons don't like Bitcoin because of it's volatile nature. The major cause of Bitcoin misconception in some people is the lack of proper Bitcoin knowledge.

Yes, among of them is not having the Bitcoin related knowledge and still not wanting to learn about it. Bitcoin came into the market with criticizers right from the beginning, while many has pathed ways with such doubts, also some set of them who still retain those hatred for Bitcoin and they will continously try to prove their point to others but if anyone could be smart enough to not just accept what he/she heard and try to carry out further researches, only then can we clear those misconceptions.

When someone does not have the desire to learn about Bitcoin and only hears about Bitcoin from those who have failed in Bitcoin, of course they will never understand Bitcoin well and if they can take their time to learn it, of course they will be able to understand Bitcoin well and also they can use Bitcoin as an asset that they can invest in.

However, for some people who hate Bitcoin, of course they have unpleasant experiences, both losses in investing and trading, and this certainly happens because of their own mistakes who do not want to learn first before deciding to use the asset to invest or trade, doing research from what we hear from other people is certainly very important because someone could only share the mistakes they made and they do not want to learn the mistakes they made.