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Brooker
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July 28, 2014, 02:04:56 PM |
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Myth: Bitcoin is a pyramid scheme
That probably falls under the Is Bitcoin a Ponzi which they've already covered. See the op. |
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Bitcoin For Dummies (OP)
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July 29, 2014, 10:25:53 AM |
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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 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. Well, this is not really a myth, it isn't ready for the mainstream and that's why it's not mainstream yet. But the tools to get there are being build as we write this. The technology is young, we are still laying down the roads, that's expected process and needs time. Nothing to bust here really. So far, we haven't picked anything, so please give us more suggestions. |
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RocketSingh
Legendary
 Offline
Activity: 1662
Merit: 1050
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July 29, 2014, 11:05:30 AM |
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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 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. Well, this is not really a myth, it isn't ready for the mainstream and that's why it's not mainstream yet. But the tools to get there are being build as we write this. The technology is young, we are still laying down the roads, that's expected process and needs time. Nothing to bust here really. So far, we haven't picked anything, so please give us more suggestions.here is a list of Bitcoin Myths. pick up the one of your choice  https://en.bitcoin.it/wiki/Myths |
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R2D221
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July 29, 2014, 11:54:40 AM |
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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.
For the first obe, I agree. For the second one, what are the odds of Bitcoin literally dropping to zero next week? If it loses value, it won't be as fast. |
An economy based on endless growth is unsustainable.
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gjgjg
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July 29, 2014, 04:57:42 PM |
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Id go for the 'only criminals use it to buy x'.
If I were the FBI or CIA etc I would be begging criminals to use BTC. They just need to get the personal info from the exchanges about which wallet is theirs and it opens up their finances way quicker and easier than cash or whatever. Once they get a solid starter lead on a wallet they can then get personal info of any other wallet that has interacted with it. Even if the wallet was created under a friend of 'the criminal' its still a good lead. Assuming the exchanges arent blocking law enforcement on this process, it seems that its way more risky than cash for the criminalez.
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JohnFromWIT
Member
Offline
Activity: 112
Merit: 10
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August 01, 2014, 01:25:52 PM |
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Bitcoin encourages criminal activity
or at least
It facilitates criminal activity more than other currencies.
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ljudotina
Legendary
Offline
Activity: 1260
Merit: 1029
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August 01, 2014, 01:40:43 PM |
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I'd like to see "ASIC's arn't centralizing Bitcoin" myth busted....
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giveBTCpls
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August 01, 2014, 03:02:49 PM |
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I want to see Bitcoin in ebay so the myth of "Bitcoin will never kick off into mainstream adoption" gets busted.
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Bitcoin For Dummies (OP)
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August 01, 2014, 05:49:39 PM |
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I want to see Bitcoin in ebay so the myth of "Bitcoin will never kick off into mainstream adoption" gets busted.
This one will get busted by itself  |
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Nerazzura
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August 01, 2014, 06:22:50 PM |
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Most of confidence in Bitcoin Bitcoin comes from the fact that it does not require belief at all. Bitcoin is fully open-source-based and decentralized. This means that every person has access to the entire source code at any time. All developers in the world can verify how exactly how the Bitcoin. All published bitcoin transactions and can be viewed transparently and in real-time by anyone. All payments can be made without depending on a third party and the entire system is protected by a peer-reviewed cryptographic algorithms such as those used in online banking. No organization or individual who can control Bitcoin, and the network remains secure even though not all users can be trusted.
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Bitcoin For Dummies (OP)
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August 02, 2014, 04:36:06 PM |
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Most of confidence in Bitcoin Bitcoin comes from the fact that it does not require belief at all. Bitcoin is fully open-source-based and decentralized. This means that every person has access to the entire source code at any time. All developers in the world can verify how exactly how the Bitcoin. All published bitcoin transactions and can be viewed transparently and in real-time by anyone. All payments can be made without depending on a third party and the entire system is protected by a peer-reviewed cryptographic algorithms such as those used in online banking. No organization or individual who can control Bitcoin, and the network remains secure even though not all users can be trusted.
So, what's the myth? |
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Satan666
Full Member
Offline
Activity: 123
Merit: 100
The love of fiat is the root of all good
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August 02, 2014, 05:27:11 PM |
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We are still looking for ideas guys.
"Bitcoin is a commodity." Some people seem to think that the volatile price tag attached to a bitcoin is what defines it. |
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blatchcorn
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August 02, 2014, 05:28:49 PM |
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Myth: Those investing today in Bitcoin have already missed the boat
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juicyjuice87
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August 02, 2014, 11:53:17 PM |
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The energy wasting insanity. Wait that's not a myth
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franky1
Legendary
Offline
Activity: 4214
Merit: 4461
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August 03, 2014, 12:01:38 AM |
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The energy wasting insanity. Wait that's not a myth
it is a myth put short 1Thash= 1kwatt electric, doing some maths at the moment the hash power of the network is 153peta hash so bitcoin uses 153mwatt and thats a world currency of more then a couple million users/merchants https://blockchain.info/charts/hash-ratelas vegas alone uses 5000mwatt-7000mwatt.. and that's one city of.. poker chips and 1,300,000 residents https://www.nvenergy.com/company/facts.cfmbitcoin is 80x more power efficent for the community than the community of pokerchips |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Night Owl
Newbie
Offline
Activity: 18
Merit: 0
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August 03, 2014, 12:20:11 AM |
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Sorry I am new, but are online wallets safe for small amounts of BTC?
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dwdoc
Legendary
Offline
Activity: 966
Merit: 1000
- - -Caveat Aleo- - -
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August 03, 2014, 12:33:02 AM |
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When most of the bitcoins have been mined transaction fees will not be high enough to support the network.
Myth or Truth?
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JohnFromWIT
Member
Offline
Activity: 112
Merit: 10
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August 03, 2014, 12:03:59 PM |
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Jason Biggs invented Bitcoin.
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sugarfree
Member
Offline
Activity: 82
Merit: 10
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August 04, 2014, 11:38:08 AM |
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Myth: Regulation will be good for Bitcoin
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