What's the biggest myth you believed about bitcoin? \ stacker news ~bitcoin

What's the biggest myth you believed about bitcoin?

2222 sats \ 37 comments \ @kepford 19 Mar bitcoin

I believed that bitcoin was the first crypto currency. You hear this ALL THE TIME still today. I'm not a historian but my understanding is that eCash was the first crypto currency. We live in a time of unbelievable access to information but it seems that no amount of access overcomes our laziness and lack of skepticism.

So what is the biggest myth you believed about bitcoin or what is the biggest myth you see people falling for?

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253 sats \ 9 replies \ @DarthCoin 19 Mar

That everybody will embrace it. I was wrong. For many years I hoped and helped many people to embrace it, but in the end I realized that Bitcoin is only for brave men, not for the weak. WE WILL NEVER HAVE HYPERBITCOINIZATION. Why? Because people are dumb and idiots. Example here: https://m.primal.net/HlNp.mp4

162 sats \ 2 replies \ @ek 19 Mar

That looks staged af. The guy never simply said how much worth a bitcoin is. That would have progressed the conversation beyond "you are so dumb" - "no u".

Doesn't mean conversations like this don't happen though. But when I see something like this on social media or especially TikTok, that's like exactly what people want to see. Something that doesn't challenge them, gives them an emotional response which includes making them feel superior because they see something that's easy to understand: Girl sooo dumb. Boy sooo smart. Like me. Me sooo smart.

...

33 sats \ 1 reply \ @DarthCoin 19 Mar

Please go on the street and do the same experiment. You will be stunned about how many will do the same as in his video. I did it myself few times. is fucking true. PEOPLE ARE FUCKING IDIOTS.

0 sats \ 0 replies \ @ek 19 Mar

They are fucking idiots but that doesn't look like a normal conversation flow to me.

10 sats \ 5 replies \ @kepford OP 19 Mar

The other thing is that everyone doesn't have to embrace it. The vast majority are second handers and followers.

36 sats \ 4 replies \ @DarthCoin 19 Mar

second handers and followers.

meaningless sheeps. I piss on them. Literally. No remorse.

the scumbags of the Earth...

0 sats \ 3 replies \ @StillStackinAfterAllTheseYears 19 Mar

You're going to have to drink a lot of water to piss on that many folks.

21 sats \ 2 replies \ @DarthCoin 19 Mar

I piss everyday on SN shitcoiners... And I drink a lot of beer. plenty to have enough to piss on shitcoiners so... BE AWARE ! Don't shitcoin on me ! I will piss on you!

0 sats \ 1 reply \ @Coinsreporter 20 Mar

Unfortunately, when you piss on others, there are high chances that you get pissed back. So, I stay away from pissing on others, and keep learning.

0 sats \ 0 replies \ @DarthCoin 20 Mar

208 sats \ 3 replies \ @Undisciplined 19 Mar

I believed the early hype about how bitcoin would have nearly instantaneous transactions with almost zero fees.

32 sats \ 2 replies \ @DarthCoin 19 Mar

And is true. I live that in early years, 2012, 2013, 2014, 2015 when I could send any tx with ZERO fee, onchain, because those times LN was just a dream.

54 sats \ 1 reply \ @Undisciplined 19 Mar

That's right. It wasn't a myth at the time. The myth was that this would continue to be true for on-chain transactions.

55 sats \ 0 replies \ @DarthCoin 19 Mar

And nowadays, people are underestimating LN... such fools.

319 sats \ 4 replies \ @drfred 19 Mar

i believed that it was a scam

and when mining will stop, when all bitcoin are mined, it will end

30 sats \ 3 replies \ @DarthCoin 19 Mar

really you fall for that crap FUD? So you NEVER ever read the Bitcoin whitepaper?

100 sats \ 2 replies \ @kepford OP 19 Mar

Bitcoin is a teacher. Over time some will learn that those that talk on TV and on social media are shills and liars. Some will not learn. They are condemned to repeat the same lessons over and over again.

33 sats \ 1 reply \ @DarthCoin 19 Mar

idk man, but every day I am more convinced that

😂😂😂

0 sats \ 0 replies \ @kepford OP 19 Mar

Not all of us, that much is certain. Always been that way though.

204 sats \ 0 replies \ @StillStackinAfterAllTheseYears 19 Mar

I'm a hipster here; I believed it wouldn't be worth much until at least two or three great chances had passed me buy.

62 sats \ 2 replies \ @rafaelasprilla334 19 Mar

When I started in Bitcoin and started researching mining, I thought it was harmful to the environment.

33 sats \ 1 reply \ @DarthCoin 19 Mar

But you just said "started researching mining", that means you found out how mining have nothing to do with "damaging environment" !

Why people fall for this crap so easily?

21 sats \ 0 replies \ @rafaelasprilla334 19 Mar

Exactly, after investigating further I discovered that it had nothing to do with the other types of mining hahaha. Now I have 2 teams mining

54 sats \ 0 replies \ @TheWildHustle 19 Mar

That it was about collecting more dirty dirty fiat

33 sats \ 0 replies \ @pako 20 Mar

Nodes secure the network.

Nope, they don't.

0 sats \ 0 replies \ @chairman_pretense 20 Mar

Believed people who said miners control the network. Read The Blocksize War and learned how it really plays out.

Similarly, believed a 51% attack gave miners limitless control. Learned later it was only a short window of double spending unconfirmed transactions. (Bad, but not apocalyptic).

Believed TPS fud, before learning that a single on chain transaction can have hundreds of inputs and outputs. And learned about LN and the concept of layered scaling.

0 sats \ 0 replies \ @DiedOnTitan 20 Mar

FUD: Bitcoin is bad for the environment because hashrate mining consumes too much energy and it's only getting worse.

This fud seemed compelling and made me question ... everything. Did the research and found Daniel Batten had really dug in to this aspect. Turns out that Bitcoin is a net positive.

BTC uses mostly sustainable energy

0 sats \ 0 replies \ @nullama 20 Mar

Bitcoin is the first decentralized digital currency. That's the key to its success.

Satoshi mentioned this at some point.

0 sats \ 0 replies \ @DudeJLebowski 20 Mar

That it is inevitable and will succeed regardless of whether or not we actively defend it against attacks or apply vigilance to potential bottlenecks and centralisation forces.

0 sats \ 0 replies \ @ch0k1 19 Mar

The biggest of all myths about Bitcoin is off course that it will go to zero 🤣

0 sats \ 0 replies \ @OT 19 Mar

I thought conjoins made your BTC untraceable.

Lol

0 sats \ 1 reply \ @ursuscamp 19 Mar

That running a node meaningfully contributes to the Bitcoin ecosystem.

0 sats \ 0 replies \ @kepford OP 19 Mar

Care to expand on that?

0 sats \ 0 replies \ @Atreus 19 Mar

When I first bought BTC I thought it was anonymous once I moved it off the exchange. 😀

(Shut up, it was okay to be an idiot in 2017) (😔)

0 sats \ 0 replies \ @positronic_bot 19 Mar

That there would be exactly 21 millions bitcoins issued.

0 sats \ 0 replies \ @Bell_curve 19 Mar

What about hash cash before e cash?

0 sats \ 0 replies \ @0xbitcoiner 19 Mar