Official News 18.12.2017 Three Misconceptions about Bitcoin

Discussion in 'MMM Global - English' started by MMM Global Support Team, Dec 25, 2017.

  1. MMM Global Support Team

    MMM Global Support Team Administrator

    You can join MMM and earn a high percentage of the help provided in one of two possible ways: using either conventional bank transfers or cryptocurrencies. Using cryptocurrencies is fast, safe and profitable. However, despite their fast-growing popularity, cryptocurrencies, Bitcoin in particular, are still an alien concept to many people which is why they shun away from using Bitcoin.

    Each new or developing technology is received warily by the community. It's often scoffed at, scrutinized for soft spots, compared with well-established technologies. This is the situation Bitcoin has found itself in. Below are the three most popular myths about this cryptocurrency.

    Bitcoin is a gold coin

    Some people think Bitcoin is a physical currency because they see it everywhere depicted as a gold coin. This is why they transfer disadvantages of conventional currencies onto it, including devaluation, counterfeiting, theft, etc.

    However, Bitcoin is a digital currency that can only be used on the Internet. Unlike paper money, it cannot be touched or printed in random quantities.

    Miners mine Bitcoin in the literal sense

    Some think that miners mine cryptocurrency the way coal miners mine coal: for instance, by making tunnels and digging out gold coins or by forging them at factories, or by ordering them from jewelers, etc. — there are multiple options.

    The truth is that miners mine bitcoins using their computers and special software. This software automatically solves complex mathematical tasks thus earning bitcoins as a reward to the miners.

    Using Bitcoin means a very high risk

    Some people fear that they are not going to receive the transfer sent their way, or that they are going to lose their money, or that their transfer is going to be lost, etc. These concerns have no grounds. Cryptocurrency transfers are faster and safer than bank transfers, and Bitcoin operation is mathematically fine-tuned.

    The network registers the sender's and recipient's addresses and the transfer amount. Transactions cannot be forged or cancelled. Errors are ruled out. Moreover, Bitcoin trading stock exchanges and platforms use multiple proven algorithms of protection against all kinds of fraudsters.

    Using Bitcoin and other cryptocurrencies is safe and profitable. Therefore, don't believe in various myths, contribute to MMM using cryptocurrencies, earn a high percentage of the help provided and achieve success!
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