Difference between revisions of "Myths"
m (moved Bitcoin myths to Myths) |
(please elaborate on these points as I don't know what to say here.) |
||
Line 1: | Line 1: | ||
− | + | 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.
Contents
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.