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Ep. 039: Three Bitcoin myths we need to get rid of

by | Oct 16, 2018

Recently, I came across an Ask Kim email from someone who’s financial advisor had told them that bitcoin was a scam, only used by criminals. This infuriated me to no end. It is an investment advisor’s duty to help you make sound financial decisions, and this particular advisor showed his ignorance as well as potentially doing harm to this investor.
 
Rather than sit on it and remain angry, I decided to use it as an opportunity to debunk the top three myths surrounding bitcoin. When you choose to ignore facts in favor of sensationalized myths, you are costing yourself a financial opportunity. 

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“You can’t convince a man of something when his salary depends on the opposite.”

- Upton Sinclair

Author

In this episode, I cover:

✓ Why people perpetuate these myths

✓ The myth that bitcoin is only used by terrorists and criminals

✓ The myth that bitcoin has no value, and isn’t backed by anything

✓ The myth that bitcoin is too risky for all but the most speculative investors

✓ The consequences of giving in to these myths

TO DIVE DEEPER INTO POPULAR BITCOIN MYTHS:

‘This Is Not a Passing Fad’: CFA Exam Adds Crypto, Blockchain Topics – Bloomberg

Bitcoin Bulls and Bears – Bloomberg

Future Crimes: Inside the Digital Underground and the Battle for Our Connected World – Goodman

Full Faith & Credit – On The Media Podcast

The Future of Money – Neha Narula, TED

Risk Management – Housel

QUESTIONS OR FEEDBACK:

Email: askkim@sanecrypto.com
Twitter: @sanecrypto https://twitter.com/sanecrypto

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