Myths: Difference between revisions
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m (moved Bitcoin myths to Myths) |
(please elaborate on these points as I don't know what to say here.) |
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Lets clear up common Bitcoin misconceptions. | |||
== The bitcoin is backed by CPU cycles == | |||
Bitcoin is not backed by anything. It is a commodity in its own right. Is gold backed by anything? No! It's just gold. Same thing with bitcoin. | Bitcoin is not backed by anything. It is a commodity in its own right. Is gold backed by anything? No! It's just gold. Same thing with bitcoin. | ||
== Early adopters are unfairly rewarded == | |||
== It's a giant ponzi scheme == | |||
== Deflationary spiral == | |||
Revision as of 21:19, 9 January 2011
Lets clear up common Bitcoin misconceptions.
The bitcoin is backed by CPU cycles
Bitcoin is not backed by anything. It is a commodity in its own right. Is gold backed by anything? No! It's just gold. Same thing with bitcoin.