If you are an active online money earner, then at least once you would have tried the Bitcoin system, may be out of curiosity or for knowledge. Some may have understood the concept of the Bitcoins while others solely decide if it gives me money, no question will be needed.
The concept:-
This is for the genuinely interested people. The basic concept behind the Bitcoin is the decentralization of the economy, meaning the power and authority to control the world economy should not be under one control. This is the concept which a lot of cryptocurrencies failed yet the Bitcoins system manage to tackle.
The process:-
There are a lot of questions regarding the origin and evolution of the Bitcoins one among them is their working process. To make the answer more understandable, a Bitcoin is something which can be exchanged in the place of any currency, be it a dollar or a euro or an Indian rupee.
The value of the Bitcoins is determined online by the number of blocks availability. Whereas the value any currency is decided by the online trading center which as usual favors the best and highest bidders.
Misconceptions:-
Due to their popularity and acceptance among the public domain, a lot of misconceptions have been created in as a block to it. Some famous misconceptions being:
- The dark way of earning.
- You are going to get cheated.
- Hackers will get you.
The dark way of earning:-
This is one of the famous misconceptions among the people. They say the money that is received from the web is the process of converting the illegal cash into legalized one. We can’t blame them actually when in some part of the world a talking tom is considered as a voodoo doll in disguise. Only time and literacy can change this concept.
You are getting cheated:-
This one is another chorus one will receive even before starting to get into the Bitcoins system or any step to improve the quality of living. Someone somewhere has been created to prove their point. Precautions are must but babying is not needed right??!!!
Hackers will get you:-
One of the famous questions is, “oh!!!! Poor thing what will you do if the hackers again attack the Bitcoin market?” which is usually accompanied by the pity look. Well, the answer is simple they will do what would one do when the bank he /she have an account is robbed?
Apart from these, there are also fingers pointing at free Bitcoin, accusing them of making the next generation lazy, making the economy unsteady with their tempting tactics. Well, as said before only time can answer these accusations about the Bitcoins system.
