When you hear the words cryptocurrency or blockchain chances are the first thing that comes to mind is Bitcoin. Bitcoin is actually one of well over 700 different cryptocurrencies in the marketplace. It is also the most popular and the oldest one available. All other cryptocurrencies owe their existence to Bitcoin and the blockchain technology that was developed along with it. So it is only natural that something this popular would become a target of some kind. But what about the other stuff you hear about related to Bitcoin and the world of alternative pay platforms? Here’s a look at the top 5 myths about Bitcoin.
1. Bitcoin Is A Fad
Well, that’s just plain wrong. When you measure the overall volume of Bitcoin over the past few years you discover that if anything, the cryptocurrency has actually gained in popularity. For example, in late 2013 there was about $154-million in Bitcoins moving per day. While that in itself is a pretty impressive rate, the volume in September 2017 was at well over $11-billion per day. Plus, it is not a cryptocurrency myth that the price is not an indicator.
The price per ‘coin’ has gone from $118 to well over $17,000 and …