Myth busters:- bitcoin and the crypto-verse

23.02.22

Bitcoin is a waste of energy

The only reason bitcoin was rising is because of the amount money people are investing in it. They're not buying bitcoin because they believe it will be an alternate to money; they're buying it because they think they can sell it for a profit later. Bitcoin is entirely useless right now, so people are trying to come up with other use cases for it. But just like the internet in the 90's, no one had any idea why anyone would need to use it - other than for porn and stealing music.

The same thing is happening with crypto. No one needs it, no one is using it, and yet everyone has decided that since it's useless and almost worthless, they must be missing something and that they'll get rich if they buy it now and wait. I'm sure some people will make a few thousand dollars out of it, but that's about it.

For the “Bitcoin boys” and other crypto enthusiasts, read “Why Cash is King” by “Cash Money Millionaires.” Their statement is simple: “Bitcoin is not real money, the Blockchain is a waste of energy resources and the idea of a universal currency that shops and consumers can use to pay bills (the original purpose of bitcoin), is a waste of time and energy.

Bitcoin is a waste of energy, and its popularity is based solely on price fluctuations. The price of bitcoin is managed by whales, and bitcoin controls the majority of the crypto market. People all around the world are really enthusiastic about crypto, and bitcoin, which is now the most valuable cryptocurrency on the market but is difficult to grasp if you aren't a techie, is causing a lot of buzz. Every day, the value of one bitcoin rises to unprecedented heights, recently surpassing $50,000 USD. Many regard it as a blip on the radar, but many more are willing to show that it is here to stay.

Bitcoin and cryptocurrency trading or exchange is probably the most effective and most efficient way to make transactions in the world right now. Yes the price fluctuates every now and then but other currencies do too. Nothing good comes easy and for people like myself and some of my other colleagues who have a some basic understanding of how the market works, when we see the dip we are don’t run in fear and make hasty decisions we stay patient and watch the market carefully.

In the case of whales controlling the market I don’t think that is entirely true. Yes they have a huge impact on the price and stability of market value for different crypto but that doesn’t mean they decide whether a particular coin fails or not. What I think ? While we are here let’s give crypto a chance because like it or not this is the future and as bitcoin and other reliable coins like Bitcoincash, ethereum and the likes are making waves let’s support the cause so that we can achieve our goal of making bitcoin or other crypto currencies a medium for making international transactions.

Hi so this might be a little different from how I usually write. Truth is I have been reading a lot of myth-busters articles from the likes of @King_Gozie @Fexonice1 and many other talented writers especially from the prompt which was organized by @Theblackdoll I was supposed to participate in that challenge but for some reason I wasn’t able to and so this article has slept long enough in my draft. I am finally letting it free today hope you find this one interesting. Let me know how I did in the comment section..

Thank you all and stay safe

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