Bitcoin’s adoption by the general public is hampered by seven key misunderstandings. Some experts summarized them for you:
- You need first to understand why Bitcoin before you figure out what it is.
- Bitcoin is not mainly used by criminals and doesn’t provide any real anonymity.
- It is not just a technology, but rather a form of money, so it should not be changed continually.
- Bitcoin is not a payment mechanism but rather a savings technology.
- It does not use an enormous amount of energy, but rather it uses less energy than other forms of finance that require many intermediaries.
- It cannot be compared to older technologies.
- Most mainstream media really don’t know what they are talking about when discussing about Bitcoin.
Calvin Arye, a supporter of Bitcoin SV, claims that the biggest crypto exchange in the world, Binance, rests on shaky legal grounds and will be shut down within one year.