What bitcoin myth you want to see us bust next?

[Bitcoin For Dummies]

It's again that time when we reach out to the community asking what bitcoin myth busting video we should do next.

Here is our work so far:

• The first one "Finally a simple answer of what is Bitcoin!" - https://www.youtube.com/watch?v=cWYVktImeTk
• The second "Is Bitcoin a Ponzi?" - https://www.youtube.com/watch?v=kImBgWDgIlA
• The 3rd "Does Bitcoin have an intrinsic value?" - https://www.youtube.com/watch?v=2R3Zg1KL_KE
• the 4th "Why bitcoin transactions are so slow and why there is a huge risk of double spending?" - https://www.youtube.com/watch?v=HrvinzeAymg
• 5th, "21 reasons why bitcoins are better than dollars!"- https://www.youtube.com/watch?v=XImwmL4eBXk

Well, here you give your opinion what should be the 6th one?


Disclaimer: This project is supported by product placement of sites from the bitcoin ecosystem. Who gets to sponsor a video is decided by an auction that we hold in the Auction section of this forum. If you want to be reminded about the next one just PM me now, I'll PM you back when it starts!

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[MegaHustlr]

I'd like to see one on the myth of but you spend bitcoins on anything or anywhere and a display of what you can buy and hoe easy it is to buy things with it.

[InwardContour]

I'm curious about this, when the last block of bitcoin will be mined, what will happen?

My 2 cents:
The miners will gain only transaction fees so the electric cost will be higher than the revenue,
therefore the number of miners will drop drastically and the chances of 51% attacks will be huge.

Conclusion: when the last block will be mined, bitcoin will die.

myth?

[cech4204a]

I'd like to see answer about blockchains data size, what will happen in future, will we need like 2 TB HDD for storing whole blockchain or is it gonna be reduced and controlled somehow? Why do we even need that much data, why can't we have pieces, like P2P network has?

[bananaControl]

I want you to bust the myth that bitcoin and the necessary technologies are ready for ordinary people to hold and use.

[Krang]

I'm curious about this, when the last block of bitcoin will be mined, what will happen?

My 2 cents:
The miners will gain only transaction fees so the electric cost will be higher than the revenue,
therefore the number of miners will drop drastically and the chances of 51% attacks will be huge.

Conclusion: when the last block will be mined, bitcoin will die.

myth?

Yes, myth, because the transaction fees will be higher and the cost of producing miners etc will also drastically fall.

[banque]

www.Grepa.org

The worlds answer to FREE CLEAN ENERGY FOR THE WORLD

By the time the last coin is mined, we may have a GREPA WORLD of free clean energy IMO.

Bitcoin takes out the worlds banks

Grepa takes out the fossil fuel corps

FREE ENERGY solves the power issue

BTC solves the worlds currency manipulation issue

[StatusSeeking]

Myth: Bitcoin is terrible for the environment due to miner power consumption.

[mamarried]

"It's cheaper to use western union"

[smashingpumpkin]

Widespread Bitcoin adoption would somehow prevent fractional reserve banking from happening.

[AliceWonder]

I'm curious about this, when the last block of bitcoin will be mined, what will happen?

It depends. Miners spend a lot of money on their hardware.

If the centralization trend keeps up and the block reward gets to small, we may see the major pools start rejecting transactions that don't have a, say, a 2% fee.

Those who control the flow of money have all the power, which is why this centralization problem needs to be solved.

[AliceWonder]

I'd like to see answer about blockchains data size, what will happen in future, will we need like 2 TB HDD for storing whole blockchain or is it gonna be reduced and controlled somehow? Why do we even need that much data, why can't we have pieces, like P2P network has?

lite clients already exist.

[AlPutino]

Myth: As a bitcoin rises in value, more people hoard the currency as it becomes too valuable to trade for something else. This effect dictates that Bitcoin will never be useful as a currency.

[Brewins]

Myth: bitcoin was created by CIA/The Illuminati/satan itself and has lots of backdoors and a virus in their algorithm that will make it turn to dust overnight.

Myth: bitcoin may get to 0 next week so are not worth investing

[Riniaiokl]

Another myth: 'Bitcoin in it's current state is ready for primetime and mass adoption'

[Tenarlty]

Another myth: 'Bitcoin in it's current state is ready for primetime and mass adoption'

I'd like to hear more about this, mainly though, what can be done or is being done

[futureazy]

Myth: Bitcoins stored locally are less safe than those on exchange wallets.

[bananaControl]

Another myth: 'Bitcoin in it's current state is ready for primetime and mass adoption'

I'd like to hear more about this, mainly though, what can be done or is being done

+1

If OP was really interested in busting myths and do something good for bitcoin, he would take on the truth even if it hurts a bit right now. Critical and constructive criticism is much better for the entire ecosystem than overly positive propaganda that hides the inconvenient truth. Selling an unfinished product without telling the entire truth can come back and bite us all.

But hey, maybe OP is indeed sincere in his alleged intentions, but only he can prove so.

[Brooker]

Myth: bitcoin was created by CIA/The Illuminati/satan itself and has lots of backdoors and a virus in their algorithm that will make it turn to dust overnight.

Myth: bitcoin may get to 0 next week so are not worth investing

Well the first one you can't prove or explain why it wasn't created by any of those people or groups, and the second bitcoin could go to zero next week and whether they are investing in is personal opinion.

[adog]

Myth: Bitcoin is a pyramid scheme