Five wrong ideas about Bitcoin

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The term Bitcoin was one of the most discussed topics in the world of technology last year. We all know more about this Bitcoin and Cryptocaran. Many people know a lot about this, but many people just know that Bitcoin is a very valuable thing on which everyone in the technology world is now discussing. But those who have a fairly good idea about Bitcoin or Cryptakaran, they also believe in some of the wrong information about Bitcoin. I’m not talking to everyone, but almost 70% of people still have some misconceptions about Bitcoin that should stop believing now. This is the topic of our discussion today. Today, we will discuss some bits of rumors or myths that you should stop believing.


Five wrong ideas about Bitcoin:


1. To begin with these misconceptions, first of all, the biggest misconception about most people about Bitcoin is to say. Most people who know little more about Bitcoin, many of them are convinced that they will never be able to buy Bitcoin. Because, if you buy Bitcoin, you will have to buy a minimum of 1 Bitcoin. Whose current market value is more than $ 15,000. But it is a complete misconception. Yes, if you want to buy Bitcoin, you can buy 1 Bitcoin and 10 Bitcoin or 20 Bitcoin as much as you want. But at the minimum, you have no obligation to buy 1 bitcoin. You can buy 0.1 Bitcoin if you want and if you want to buy 0.01 or 0.001 Bitcoin. If you can not buy a bitcoin at the same price of 1 Bitcoin, you can also buy 0.1 or 0.001 Bitcoin at the cost of 100 dollars or even 10-15 dollars if you want.

2. Now let’s talk about the second misconception. Many believe this misconception also. Especially those who do not have much idea about Bitcoin and this complete creptocardiography industry, they believe this misconception. Many of them think that the price of Bitcoin will continue to grow. Never will be reduced. But this idea is totally wrong. Bitcoin prices are going to be changed every minute and every 2 seconds if it is called acutely. But change does not mean that the price increases. Bitcoin prices may rise more tomorrow and prices may be slightly reduced. Bitcoin prices are much like the stock market. Looking at the up-down of the last few months of Bitcoin, understand how wrong this idea really is. Within 3-4 months, the price of Bitcoin rose to close to $ 20,000 and again in less than a month, it has gone down to 11 thousand dollars. So there is no reason to think that Bitcoin prices will only increase.

3. Now let’s talk about Bitcoin’s fourth misconception about people. Many people still think of this wrong idea. This misconception is about Bitcoin Mining. Many people think that Bitcoin can be mileage on any PC and it will be beneficial. But this idea is also wrong. Yes, it is right that you can mile the Bitcoin on any PC if you want. But the problem is with the profitability. For example, if you use Bitcoin by using Low and CPU or GPU, you can fix mining but it will not be profitable at all. For example, many people ask me if I can use Intel GPU to Bitcoin mine. The answer is yes, but it can be seen that at the end of the month, you have to pay 10$ more for the PC, but you are getting 200 rupees from bitcoin mining. There you will lose almost 3$  (for example). That’s why most popular mining programs such as NiceHash Miner have limited their program only for high-end GPU users. Therefore, any CPU can be able to mile b using GPU and it will be beneficial, this whole thing is nothing but a misconception.

4Now let’s talk about the third misconception. This is probably the most misconception about Bitcoin which is believed to be about 80% of people and still is doing it. The wrong idea is that nobody can track Bitcoin Transactions. About 80% of people who know about Bitcoin and Cryptocurrency know that the most interesting thing about Bitcoin is that when someone is dealing with whom no one else can ever track or find out. But this is not true. Many people may not know about one thing that Bitcoin’s lane is being given to the public. When a person sends Bitcoin to another person or receives Bitcoin, this complete transaction is interconnected to Blockconne and any person connected to the internet will be able to see these transclusions, although there will be no name or contact information for those who have blacksnake. There will be only two Bitcoin wallets that have been labeled by those two wallet addresses and the amount of bitcoin in it. This information are always public. However, if one of them purchases a product using his Bitcoin wallet, or uses Bitcoin to make a payment in some store, then it will be possible to track. If a country’s government wants to track a Pitkanen transaction, then they can ask only those suitors for the Bitcoin Wallet address at that store and ask who has bought this Bitcoin wallet address from who bought the product from them. If you want to know this, the store’s cashier can check their records and who can buy this product. Although it is a complicated matter, it is very possible for the government to track Bitcoin Transaction, if they do enough research on it.

5. Now let’s say about the fifth misconception of today’s list. I think almost 90% of people who know about Bitcoin, most of them have this misconception. Many people of Bangladesh think that cryptocurrency means Bitcoin. If you have not had such an idea then you will be in the remaining 10%. But if this idea is still there, then say, Bitcoin is not the only crypto corporation. There are many cryptosystems like Bitcoin, which may have never heard the names. There are thousands of cryptic carnations like Bitcoin in the world. Of course, Bitcoin is the biggest and most popular. Apart from Bitcoin, there are a few other popular cryptosystems. For example, Ephriam, Lightkken, Dokken, Dash, etc. Apart from these, there are many more cryptosystems. There are many types of crypto scars that no one will ever buy or collectors have no value, but they are also cryptosystems like Bitcoin and they exist.

So this was about 5 wrong ideas about Bitcoin and Cryptocarbon that you should stop believing today. Here’s the end of today. I hope you like today’s text. If there are any questions or opinions, please tell me in the comments section. Thank you.

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