The Biggest Misconception About Cryptocurrency

[emma.lee1890]

"The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."
I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts.

[sola]

But what I was puzzled by was the Steve’s statement that “Contrary to what one would expect in a rational market, new currencies don’t seem to reduce the value of old currencies; they all seem to move as a single asset class.” Surprisingly, Steve believes in, what I believe to be, the biggest misconception in Crypto. And that’s that all cryptocurrencies are “currencies”.

[bdamenaakter]

The biggest misconception that i know about cryptocurrency is the people think that bitcoin or cryptocurrencies are scam because it is only online and they are not convinced for the possible fast profits because they think that we are scamming other people to just earn money while they didn't know that it is the result of our hard work and determination to do our job pretty good in order to get some bitcoin that will be converted into fiat.

[yousufatik]

I think the biggest misconception right now is that cryptocurrency facilitates tax evasion, fraud and money laundering. The truth is, traditional cash currencies are far more anonymous and easily moved around than cryptocurrencies. The vast majority of tax evasion and money laundering uses traditional currency, NOT cryptocurrency. I feel like the luddite officials keep pinning this on cryptocurrency in an attempt to discredit it, annoying!

[mamun777]

the misconception about the  crypto currency that it is only for the tech savvy, computer hackers and criminals and only applicable for rich countries. whereas
bitcoin are spreading now on the less developed countries to open an equal opportunity to earn.

[Oduvan]

Everyone has the right to opinion and it is possible that everyone is mistaken in his own way, but we all see perfectly well that Bitcoin has risen to its feet and is already confidently standing on them and there is nothing wrong with that.  After all, you need to introduce new technologies, including payment methods!