Fun

Is Bitcoin a scam? 5 myths surrounding BTC and how to debunk them

News Feed - 2024-04-05 04:04:30

Marco Castrovilli4 hours agoIs Bitcoin a scam? 5 myths surrounding BTC and how to debunk themIn our latest video, we delve into the five most prevalent myths about Bitcoin, meticulously separating fact from fiction.1191 Total views3 Total sharesListen to article 0:00Cointelegraph YouTube SubscribeOwn this piece of crypto historyCollect this article as NFTJoin us on social networksDespite being around for more than 15 years, Bitcoin still faces skepticism from media pundits, market analysts and even regular people. For those who have ever encountered someone dismissing Bitcoin as a scam or claiming its value is unsubstantiated, Cointelegraph’s latest video dismantles the five most prevalent misconceptions about premier cryptocurrency.


One of the most common anti-Bitcoin (BTC) talking points is that it lacks “intrinsic value.”


It’s true that, unlike fiat currency, Bitcoin isn’t backed by a central bank, and its value doesn’t stem from traditional cash flows or dividends of publicly traded stocks. However, dismissing Bitcoin’s intrinsic value overlooks the unique attributes that render it valuable: decentralization and borderlessness, which enable efficient global value exchange, and scarcity, which make it an appealing hedge against currency devaluation. 


Another prevalent accusation is that Bitcoin operates as a Ponzi scheme, where early adopters profit from subsequent investors until the scheme collapses.


While it"s accurate that early Bitcoin adopters amassed wealth as the digital asset"s value surged, comparing Bitcoin to a Ponzi scheme ignores a crucial distinction: Bitcoin operates within a fully decentralized network devoid of any central controlling entity. This decentralized nature thwarts any attempts by malicious actors to seize control.


For insights into three other common myths surrounding Bitcoin and arguments to debunk them, watch the full video on Cointelegraph’s YouTube channel. Don’t forget to subscribe!# Bitcoin# Blockchain# Ponzi Scheme# Business# Bitcoin Price# Bitcoin Analysis# Bitcoin Regulation# Adoption# Bitcoin Industry# Bitcoin Community# Bitcoin Scams# Bitcoin Halving# Scams# RegulationAdd reactionRead morePayPal opens PYUSD stablecoin to USD conversions for cross-border transfersBitcoin maximalism is misguided — Satoshi Nakamoto was a "Maxi Plus"‘Everything will be tokenized’ — Mantra Chain CEO

News Feed

Brayden Lindrea6 hours agoLuxor refutes claims its Bitcoin hash rate-backed product is BlockFi, Celsius 2.0“The return comes from hash rate, not from pixie dust, Ponzi schemes, or rehypothecation,” a Luxor Technology
Iran Returns Seized Crypto Mining Equipment to Miners
Iran Returns Seized Crypto Mining Equipment to Miners A government body responsible for state property in Iran has released some of the hardware seized from illegal crypto mining f
Meme Coin Economy Swells by $5.8 Billion in Less Than a Month, Suggesting Demand for Meme Tokens Still High
Meme Coin Economy Swells by $5.8 Billion in Less Than a Month, Suggesting Demand for Meme Tokens Still High The meme coin economy has grown significantly over the past 27 days, inc
Tron Shows Adoption Strength As Volume Still Led By Big Transfers – Details
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
South African Court Grants Order to Liquidate Mirror Trading International After Investors Fail to Withdraw Their BTC
South African Court Grants Order to Liquidate Mirror Trading International After Investors Fail to Withdraw Their BTC A South African High Court recently granted
Bitcoin pushes toward $70K — just 6% needed for new all-time high
Martin Young3 hours agoBitcoin pushes toward $70K — just 6% needed for new all-time highBitcoin price came within 5.7% of its peak today as the week begins with positive sentiment.2855 Total views18 Total sharesListen
Dogecoin Leads The Pack As Dog-Themed Coins Rally – “Trump Effect” Sparks Excitement
Este artículo también está disponible en español. The cryptocurrency market is buzzing as President-elect Donald Trump’s inauguration day (January 20) sparks renewe
Bitcoin Price May Test $7,750 as Selling Pressure Grows
View Bitcoin’s bearish daily candle close (UTC) on October 16 has increased the likelihood of further price drops. The monthly chart has similarities to that of November 2018 when volumes favored a bullish outlook,
Robert Kiyosaki Warns Stocks, Bonds, Real Estate Will Crash as Fed Continues Rate Hikes — Advises Buy Bitcoin Before Fed Pivot
Robert Kiyosaki Warns Stocks, Bonds, Real Estate Will Crash as Fed Continues Rate Hikes — Advises Buy Bitcoin Before Fed Pivot The famous author of the best-selling book Rich Dad
NoVa Battles’ NoVa (NVA) Token Is Now Listed in Bitrue
NoVa Battles’ NoVa (NVA) Token Is Now Listed in Bitrue press release PRESS RELEASE.NoVa Battles has taken another step forward by completing another major milestone, being listed
AVAX Price Inches Closer To $50 – Will Bulls Deliver A Breakout?
Este artículo también está disponible en español. Avalanche (AVAX) is making waves in the crypto market as its price approaches the significant $50 resistance level. The
WazirX hacker funnels $149M of SHIB, MATIC other altcoins into ETH
Brayden Lindrea3 hours agoWazirX hacker funnels $149M of SHIB, MATIC other altcoins into ETHBlockchain security firms say bad actors typically move altcoins into Ether to prepare for laundering, as the native token has n