There Is A Lot Of Ignorance Out There About Crypto

in bitcoin •  4 months ago

Hey people of steem,

So there are some articles about people, smart people, who have a negative opinion about bitcoin and crypto. Now I am open to people's opinions and you can not like crypto or blockchain tech. That is your choice. But I am finding there are some people who are vehemently arguing against something they know little about. And these opinions are at best based on misinformation and at worse just plain wrong.

The main issue seems to be this idea of bitcoin that is years old and based on a scene from a movie. This idea that it is 100% anonymous and that it will need to be brought down by the government. Yes crypto can be anonymous but it can also be the exact opposite. You are dealing with an open ledger here. This means you can literally track each transaction openly. This is less anonymous than the money we use now if the crypto wants to be used that way.

There are other arguments that are misinformed as well. One being I can't spend it anywhere so it has no use. But I have covered this in other posts. The coin is an asset (and this was approved by the SEC) and stores can accept it if they chose to. It is not a tech issue but a people one. Yes there are scaling issues at the moment with coins but that is being dealt with. And other coins like steem can handle millions of transactions already. Plus I can send steem for free. There is nothing stopping me from accepting steem as payment for anything.

If you see someone railing against crypto, look to see if these words come up. If they do not mention smart contracts, dapps, assets or any other coin beside bitcoin then you might want to second guess the post. Smart contracts are kind of a big deal and a big part of why crypto is going to be huge.

And finally if they say there is no intrinsic value then keep in mind millions of bitcoin was sent with a transaction fee of pennies. If you been to a bank you know how valuable that is.


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It seems a lot of the people who rally against cryptocurrency are those in the traditional industries who fear how crypto can affect their jobs, businesses, etc.

I understand them, if your industry is about to be impacted by a technology you know nothing about, the usual response is to either understand this technology and know how you can use it, or flat out go against it and hope that if you scream loud enough, you can scare the technology away. The first one is a little difficult and time consuming, while the second seems like an easier task.

If they do not mention smart contracts, dapps, assets or any other coin beside bitcoin then you might want to second guess the post.

You're right about that. Most people against cryptocurrency don't realize that the currency is just a part of the technology. It's the blockchain that really matters, and the blockchain is as broad as it can get. From the financial sector to advertising and medicine, people are developing solutions and services that can solve a lot of today's issues. The currency just​ sweetens the pot.


Nice blog bhaii

Nice post! There are a lot of people that dis on cryptos and the blockchain with no knowledge of either!

Yes you're right. We have to coltivate our critical thinking, to let go our biases, and learn a lot.

You are right, most of the people do not know all the information about crypto and blockchain and they continue to give a lot of information on the steemit.

Very good post for crypto and Blockchain

always just seems like more disinfo to keep the general public away a bit longer, or who knows what motive. I'm still Hodlin'!

That's how things go, back in the day there where people against electricity, cars, the internet, smartphones. it's never going to catch on they said :^)

I am totally agree with you at all but I want to emphasize more it clear that are transactions cripto. more transparent banking there is all, so that shows more security to my seem. it is very difficult to hide something in this area. simply everythin are in sight.

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Giood blog bhai

I would like to contact you in private.
Do you have a discord or telegram account?


I agree with your views & opinions.There is lot of information about crypto on the internet,its just it hard to understand which is true or will be true in future.

Regards @whatageek

If the crowd goes left way ... guess what ...i go Right :-)

Never go with the big wave ...

Humble opinion ... in this scenario ... the few persons who knows everything about cryptos are the majority, let's say ... we should go the opposite way, am i right?

Have a good Day @whatageek and feel free to checkout my art/music presented on my channel


I agree people are spreading false story

So many naysayers out there. I’m one of the only ones in my group of friends and family that is involved and all they do is shut all over it and repeat so much misinformation they heard from someone else repeating bad info. I stopped arguing. I used to try and discuss but they kinda already have their minds made up.

It takes time for people to catch up. Just be patient and everything will work out.

thanks for sharing very interesting information