Clearing up some common misconceptions about Bitcoin...

It's time to clear some things up about Bitcoin...
The media as well as curious onlookers tend to have some wrong information as it relates to bitcoin.

The problem with having wrong information is that it can mislead others, especially when that wrong information is being circulated by media outlets or influencers with large followings.

While I won't go into specifics here of who is circulating these misconceptions, I will go over what some of the most common ones are and offer some counter points.

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Here's some of the most common ones circulating around:

Bitcoin is too volatile to work as a store of value
Bitcoin is only used by criminals for illicit activity
Bitcoin has failed as a currency
Bitcoin uses too much electricity
Bitcoin is not backed by anything
Bitcoin could easily be replaced by a competitor
I am sure you have a couple of these if not all of them at one point or another as a justification for why people should not invest in bitcoin and why it is ultimately going to fail.

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