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2020 roadmap to busting small blocker myths about Bitcoin and others

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Avatar for SofiaCBCH
Written by   646
4 months ago (Last updated: 2 months ago)
Topics: Bitcoin Cash, BTC, BCH

Lead image by Christine Roy


This will be the anchor article to break the myths this year 2020, there are some myths about how Bitcoin cannot scale or cannot otherwise work as Satoshi intended.

These myths were successfully used to stall the scaling and adoption of Bitcoin, until Bitcoin Cash present days.(well, came about through the blood, forks, drama and tears of a lot of the early adopters and proponents of free tax on-chain scaling).

I will be updating the list of myths as this progresses, based on the community's feedback in comment.

Counterproductive Myths

  • Bitcoin is not backed by anything

  • Cryptocurrencies are used for illegal activities

  • Bigger blocks will inevitably lead to centralization

  • IFP is the best fund option

  • Anyone can make a new Bitcoin

  • The small-block movement was supported by the majority of the Bitcoin community

  • Immutability should be highest priority

  • Bitcoin must first become a Store of Value before becoming a Means of Exchange

  • Blocks need to be kept small to keep the system decentralized

  • You can not buy anything with Bitcoin

  • There is no real demand for large blocks.

  • Segwit is needed for the Lightning Network

  • Bitcoin can and will be shut down by goverments

  • Lightning Network can easily accommodate all people in the world in reasonable time while keeping blocks small

  • Blocks must be kept full to have a working "fee market" to secure the chain

  • Bitcoin is too volatile to use as a money

  • Bitcoin can be hacked

  • Flipstarter is a political tool

  • Bitcoin has an official website

  • Bitcoin Cash has a reference implementation

  • Bitcoin is a store of value

  • ...

Collaborating on the mythbusting

You can help by adding myths you can think of which I haven't mentioned yet, there is a lot of Myths to debunk in cryptocurrencies ecosystem.

Positive contributors may receive #MYTHHUNTER tokens which are intended as a reward token, and for dividends issued by anyone feeling generous toward the mythbusting effort (using a tool like https://tools.bitcoin.com/slp-dividend-calculator/ ).


So make sure you are able to obtain an SLP address for yourself! (get the Bitcoin.com Wallet, Crescent Cash wallet or Electron Cash SLP edition, all of which support SLP tokens)

Commenting is free on read.cash, and good contributions will be rewarded by myself here, as I see this myth-busting article series as a collaborative writing project to which we (BCH community) can all contribute.

There is no wealth like knowledge, and no poverty like ignorance. -Ali ibn Abi

https://unsplash.com/photos/ir5MHI6rPg0 by Christine Roy

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Avatar for SofiaCBCH
Written by   646
4 months ago (Last updated: 2 months ago)
Topics: Bitcoin Cash, BTC, BCH
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Comments

I don't think its fair sending his Mythhunter tokens to himself to gain 20,000 Mythhunter tokens

simpleledger:qpaq3fmyr02pwuaxwdkv6jqhdea08mvqnqdy3h6gl7

simpleledger:qpq5g3zwnan54xkjtfnk9tjdfudkcgr06ujeg9kp29

$ 0.00
2 months ago

Hello, I want to write an article but while browsing, I have come across with the article of Cain.

https://read.cash/@Cain/mythbusting-ln-can-accommodate-the-entire-world-in-a-reasonable-time-while-keeping-blocks-small-34e3e708

It's a year old, so do you still require participants to debunk this myth?

Lightning Network can easily accommodate all people in the world in reasonable time while keeping blocks small

$ 0.00
2 months ago

Indeed it is a great article, Feel free to add new myths.

$ 0.00
2 months ago

I hope I can make it in time

$ 0.00
2 months ago

Bitcoin Cash has a reference implementation. The code of the reference implementation is the specification of the Bitcoin consensus rules.

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User's avatar kth
3 months ago

IMO no hay implementación de referencia ni especificación.

Solo hay una dinámica de convivencia basada esencialmente en la costumbre.

$ 0.00
3 months ago

Bitcoin has an official website.

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User's avatar kth
3 months ago

Hello, I leave my articles for the myth of "Bitcoin is not backed by anything".

English: https://read.cash/@IanBlas/the-great-sabotage-of-bitcoin-and-the-resurgence-of-the-white-paper-as-bitcoin-cash-c3116e5f

Spanish: https://read.cash/@IanBlas/el-gran-saboteo-de-bitcoin-y-el-resurgir-del-white-paper-como-bitcoin-cash-9d449081

SLP Adress: simpleledger:qzrn5pt8ygzca3prf52e8k4lxkhjd6qh6ytctcc70g

$ 0.00
3 months ago

Buen artículo. En efecto, Bitcoin no está respaldado por otro activo ni por una autoridad centralizada, pero eso no es algo malo. Por el contrario, asegura resistencia a la censura. Bitcoin (y también Bitcoin Cash) es valorado por sus cualidades, no por su respaldo, mientras que el dinero estatal es "valorado" porque los demás lo usan bajo amenaza de violencia.

$ 0.00
3 months ago

Mitos a cazar (lista traducida al español):

  • Bitcoin no está respaldado por nada
  • Las criptomonedas se usan para cosas ilegales
  • Los bloques más grandes provocan inevitablemente más centralización
  • El IFP es la mejor opción de financiamiento
  • Cualquiera puede hacer un nuevo Bitcoin
  • Los bloques pequeños fueron apoyados por la mayoría de la comunidad Bitcoin
  • La inmutabilidad debería ser la más grande prioridad de Bitcoin
  • Bitcoin debe primero volverse un almacén de valor para después ser un medio de cambio
  • Los bloques deben mantenerse pequeños para mantener el sistema descentralizado
  • No puedes comprar nada con Bitcoin
  • No hay una demanda real por bloques más grandes
  • Segwit es necesario para Lightning Network
  • Bitcoin puede y será destruido por los gobiernos
  • Lightning Network puede fácilmente satisfacer a todas las personas del mundo en un tiempo razonable mientras mantienes los bloques pequeños
  • Los bloques deben mantenerse llenos para que un "mercado de fees" securice la cadena
  • Bitcoin es demasiado volátil para usarlo como dinero
  • Bitcoin puede ser hackeado
  • Flipstarter es una herramienta política
  • Bitcoin tiene un sitio web oficial
  • Bitcoin Cash tiene una implementación de referencia
$ 0.00
3 months ago

https://read.cash/@rsene00/bitcoin-can-be-hacked-f211d659

simpleledger:qqanh5zglxelwjfn2kdng4z3eu5pnss8eq5tewez20

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2 months ago
$ 0.00
2 months ago

Another entry :) https://read.cash/@sjbuendia/mythbusting-bitcoin-can-and-will-be-shutdown-by-governments-f90ce16b

And my SLP address simpleledger:qqejgmeg5wyjfxex5xrc0hrlj3w9ef2deunp4e5a3l

$ 0.00
2 months ago

HI! Please, add another SLP adrress to this entry to avoid mix up the votes with you another entry.

$ 0.00
2 months ago

simpleledger:qpq5g3zwnan54xkjtfnk9tjdfudkcgr06ujeg9kp29

$ 0.00
2 months ago

simpleledger:qpq5g3zwnan54xkjtfnk9tjdfudkcgr06ujeg9kp29

Thank you! Sent https://explorer.bitcoin.com/bch/tx/b34d68b2548962efd77def3ec64b2308ba350f752317419245b7d5e64e36607d

$ 0.00
2 months ago
$ 0.00
2 months ago

My entry: https://read.cash/@Fzrabbi/litecoin-keewhat-is-litecoin-b14e3866

simpleledger:qzpens8lyd8vc3p3vugthupy5806647rnqcfrvl88x

$ 0.00
2 months ago

hello!💚 good day! 😊

https://read.cash/@Boyet/mythbuster-anyone-can-make-a-new-bitcoin-2c0bf0e2

simpleledger:qpjtz7r9yja7n04vcwglhxjf9x8dncg9fcjllun8gq

$ 0.00
2 months ago

https://read.cash/@LearnToEarn/myth-you-cannot-buy-anything-with-bitcoin-f66c1f15

simpleledger:qrpn4ye2cp4zrqc7dvqxwm2uma0txs5xdqnmvavef9

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2 months ago
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2 months ago

Thanks for the reference and for the heads up. If my article doesn't qualify for the contest, it's fine for me. 🤗

$ 0.00
2 months ago

Hi, I am also a Filipina

The article is good however this is not a myth. The Bitcoin Scam Revolution may have happened before but cryptocurrency activities are already legal in the Philippines. A myth is something debatable, an argument or something like that.

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2 months ago

Oh. I see. Thanks for the info. I just tried to write something about it because I thought that is one of the hindrances why it was hard for me to onboard people into the BCH community. If it doesn't qualify as a myth for the contest, it's okay. 😁

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2 months ago

https://read.cash/@pickles/bitcoin-is-too-volatile-to-use-as-money-8f0710a2

simpleledger:qzrq2nhpyg703ssfq3tl0s9hwe75rg79vqe2unxj5y

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2 months ago

There are a couple more pretty common myths not listed here that I was considering writing full articles about if I have time, or anyone else could:

  • Bitcoin is a waste of resources (this is only true if all that energy is used to confirm a very limited amount of transactions like with BTC)

  • There’s no need for a cryptocurrency for small payments since fiat works for those (small is relative, not everyone has good access to fiat money even for their small payments, and even if they do it likely still has worse fees than BCH)

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2 months ago

My article is here, that written in Bengali,my native language,on the myth " Bitcoin,Cryptocurrencies are used for illegal activities" .If English needs I will try to translate my article. Here the link: https://read.cash/@Mr.Trenzs/opradh-krmkande-kriptokarensi-bzbhrrit-hz-myth-cryptos-are-used-for-illegal-activities-79a01b76

My SLP(simpleledger ) address:

simpleledger:qzp029l90ekw3x56fy3ffqdlnrkq47xjxs4nsqy7zp

$ 0.03
2 months ago

I think your article is good! But need some improvements like, the link insert in the text, I mean clickable links-text.

$ 0.01
2 months ago

No existe una demanda real de bloques grandes. Gracias por crear concursos donde todos podemos participar :).

https://read.cash/@BeardedCake/no-existe-una-demanda-real-de-bloques-grandes-1bdd1579

$ 0.01
3 months ago

Here is my entry https://read.cash/@sjbuendia/mythbusting-you-cannot-buy-anything-with-bitcoin-0d2ab957

And my SLP address simpleledger:qqejgmeg5wyjfxex5xrc0hrlj3w9ef2deunp4e5a3l

This is my first time doing this and if there's anything that I can improve, please tell me because I also plan to debunk another myth if I can make it in time :)

$ 0.00
2 months ago

Great!! I am excited to see u here, you can invite some friends as well. All participants will receive Mythhunter tokens for the final BCH airdrop to token holders.

$ 0.00
2 months ago

But still, I will keep inviting them

$ 0.00
2 months ago

you can invite some friends as well

Actually, I already invited them to join the competition after I saw your post last night in noise.cash and gave them some few examples of mythbusting articles published in this platform but I didn't get their interest. I have only written because I want to try :) the competition last year was fun and it helped me understand more

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2 months ago

Here's mine translated entry: https://read.cash/@Mr.Trenzs/bitcoincryptocurrencies-are-used-for-illegal-activities-myth-0b9048e6

And the SLP address: simpleledger:qzp029l90ekw3x56fy3ffqdlnrkq47xjxs4nsqy7zp

$ 0.00
2 months ago

My very own entry https://read.cash/@BitcoinCashThoughts/mythbusting-ifp-is-the-best-fund-option-bbdd17b2

And my SLP simpleledger:qq3l9er3393zkv667gtt2jzkklfytdqy0vj0p76m4j

$ 0.00
2 months ago

Bitcoin is not backed by anything

Not a myth, and we like it that way.

Backing means that an institution holds some stuff in equal amount to their paper (or coins) and peg the value of their papers (or coins) to that stuff. They buy the paper and sell the backing, or buy more backing and create more paper. Example: Gold back national money of days far gone, or the tether stablecoin.

Bitcoin is unbacked, like gold, and the dollar, and like gold, real resources need to be expended to create new units. That is what makes the money sound.

$ 0.50
4 months ago

I love your argument! Please share your SLP Address.

$ 0.01
4 months ago

¿También es aceptable participar argumentando en un comentario?

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3 months ago

La participacion es libre, aunque considero que tiene q ser muy bien argumentado para captar la atencion de los votantes. Depende de varios factores y la exposicion que tenga esa publicacion.

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3 months ago