Blockchain Basics

The 5 most discussed myths regarding cryptocurrencies

Whenever the value of a cryptocurrency increases dramatically, the discussions of whether or not cryptos are valid start all over. Let’s see which arguments are valid and which are not.

Cryptocurrencies are a giant pyramid scheme

This is not true.

Cryptocurrencies are a ‘bubble’ waiting to burst

True and not true.

Bitcoin price development over time. Source: coindesk

Cryptocurrencies are mostly used for illegal transactions

This is not true.

Cryptocurrencies have no intrinsic value

This is not true.

Anyone with enough computing power can take over the network

True in theory, false in practice.

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