Bitcoin is becoming well known to many people. While only .5% of the global population ever got involved in cryptocurrency, the leader is making a name for itself. Most heard of Bitcoin although they might not understand it.
Hearing yet not understanding leads to a lot of misconception. This causes the adoption rate to slow because people believe they know what they are talking about when that is not the case.
This takes on added meaning when one is listening to someone who really has no idea what is taking place.
We see the Bitcoin myths and misconceptions debunked.
For example, Warren Buffett says Bitcoin has no intrinsic value. He is right. The challenge with this view is neither does fiat currency. It is only valued because it is issued by a nation and adopted by the population. There is no intrinsic value in that. The same holds true for most financial instruments that are traded.
Bitcoin does take on the characteristics of money and does it very well as explained here.
To read full story, click on image.
i like LTC these days
You dont own it if you dont hold it. I think physical metals is the safest bet for saving on an individual level
Crypto will change the world, if we dont allow "hidden powers" to control it...
In reality nothing has intrinsic value. Value is based on what we believe is valuable. For some it might be Dollar, for other it might be some creepy dolls (for some others it has value less than zero, they would pay to get rid of it). Fact is that more people are starting to doubt in fiat which leaves the door open for crypto
Interesting take on creepy dolls lol
You just planted 0.10 tree(s)!
Thanks to @fuadsm
We have planted already
8019.52 trees
out of 1,000,000
Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 21323.40
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
About 107.15$ has been spent to promote this content using Steemium.
Learn more here!
You got a 46.28% upvote from @spydo courtesy of @steemium! We offer 100% Payout and Curation.
This post has received a 58.66 % upvote from @boomerang.
You got a 7.81% upvote from @minnowvotes courtesy of @steemium!
You got a 45.20% upvote from @brupvoter courtesy of @steemium!
Congratulations @zer0hedge!
Your post was mentioned in the Steem Hit Parade in the following category:
Great article on the topic.
Greetings
Bob
By Tyler Durden I love it!!!
Bitcoin and crypto do not have practical use YET. Give it some time and it will... The technology behind it is another story.
Interesting..!!
Posted using Partiko iOS
So very true! It cracks me up when typical financial analyst say things like it has no value. If we are going to look at it like that, then it is on par at the very least with the toilet paper shit we call dollars.
i think the crypto is not safe than physical
Bitcoin seems to be the way to go. But governments get skittish and wield their power. It will depend on how governments will react to it and that will be the key.
You got a 47.32% upvote from @joeparys! Thank you for your support of our services. To continue your support, please follow and delegate Steem power to @joeparys for daily steem and steem dollar payouts!