THELOGICALINDIAN - Did you apprehend that Chinas aloof banned Bitcoin Or that mining is killing the planet Course you did Its adamantine to avoid the FUD back its all about you like a blubbery fog that aloof wont about-face Some Bitcoin falsehoods are so pernicious and common they debris to die admitting all efforts to set the almanac beeline Here are three of the worst
Also read: Political Decentralization: Freeing the Internet From Monopolists With Crypto-Tech
‘Bitcoin Is Locked in a Death Spiral’
A afterlife circling sounds hella cool, like article out of a Star Wars movie, but the absoluteness is added humdrum. The term, which is actuality bandied about a lot this week, describes falling BTC prices arch to falling hashrates as miners are disincentivized to defended the network.
Once 1 BTC drops beneath the break-even amount of mining, say the FUDsters, bags of miners will ability bottomward their machines, abrogation the arrangement at accident of accepting Vertcoined. Suffice to say, this is bullshit. For one thing, bitcoin has a lot added to abatement to ability break-even point — about $2,000, most likely — and as hashrate falls, some miners will be incentivized to acknowledge the network. The afterlife circling may complete gnarly, but for all kinds of reasons, it’s not gonna happen.
‘Bitcoin Is Going to Zero’
Why do bodies accumulate admiration that BTC will ability zero? Cos it makes for a way bigger banderole than agreeable that bitcoin will go to $872.53. Alike Bitcoin’s staunchest critics apperceive that BTC will never ability zero, but so continued as their allurement keeps accepting bites, they’ll abide to float this awry theory. Postulating the everyman amount point that bitcoin could conceivably ability is an absorbing bookish exercise. Wherever that attic may be begin in a worst-case scenario, however, it’s not alike abutting to zero. High hundreds or low bags of dollars seems plausible, which would booty BTC aback to its 2016 days.
One actuality that bitcoin critics assume to accept absent in the bosom of their abstract predictions is that alike at $100 a coin, BTC functions absolutely as it did at $10K per coin, and will abide to be acclimated by an army of advocates for a deluge of purposes. Price is temporary, but censorship-resistance is permanent.
Hey Trevon, you spelled “Bitconnect” wrong.
‘Bitcoin Has Been Superseded by Next-Gen Blockchains’
“Yeah, Bitcoin was acceptable in its day, but it’s old tech, bro. It’s all about Blockchain 3.0 now. No one’s gonna use a apathetic alternation that can’t calibration and has no governance. It’s all about DAG/DPoS/BFT now.”
Anyone who thinks Bitcoin’s amount can be abstinent in TPS or the cardinal of acute contracts, sidechains and shards it supports doesn’t accept Bitcoin. Getting absorbed by newer, sexier blockchains is all allotment of the acquirements process. Once it passes, you’ll acknowledgment to Bitcoin, your aboriginal love, added assertive than anytime that it’s the one alternation to aphorism them all.
From canards about activity burning to FUD about afterlife spirals, boilerplate media loves a Bitcoin hit piece. Life’s too abbreviate to abnegate all the misinformation out there. Bitcoin lies won’t die any eventually than Bitcoin will. Whether its hashrate be 60 exahash/s or 6, and whether its amount be $2,000 or $20,000, falsehoods will abide to circulate. It’s all allotment of the cycle.
What added Bitcoin lies are boilerplate media accusable of spreading? Let us apperceive in the comments area below.
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