Bitcoin is Like Something Else:because Bitcoin really isn’t much like anything else. There are some similarities between Bitcoin and, say, the US dollar or gold or even tulips, but the differences far outweigh the similarities.

The recent extraordinary runup and commensurate volatility in the price of Bitcoin has intensified global attention on the cybercurrency. For good or ill, Bitcoin is now a topic of steem, interest to the mainstream press, as Bitcoin newbies near and far take notice.

Such newbies and reporters alike have nowhere to turn for information on Bitcoin than the established cadre of Bitcoin fans (some would say fanatics) who helped to drive its price to the stratosphere in the first placeJust one problem: many of these fans are spouting misinformation – and worse, they believe their own nonsense.

For you fanatics (you know who you are) as well as the broader newbie audience suddenly interested in Bitcoin, here are some of the lies Bitcoin fans tell themselves – and how to avoid getting snookered yourself.