Bitcoin Idiots


Like anything that is new there will always be naysayers. There are individuals today that would still be using rotary phones if they still made them. What infuriates me is when someone wants to be negative when they have no basis for their statements.

These negative comments do nothing to help advance the potential improvements for the everyday lives of mankind. If we think about it. 300 years ago everyone thought the world was flat. 90 years ago people were sure that man flight was impossible and lastly who would have thought 30 years ago that we would be carrying around a small computer in our pocket and while we talk to someone on this computer we are looking at them.

Assuming we would have listened to those naysayers how far behind would the world be?

Blockchain Technology

Let’s talk about Bitcoin. When I call someone a Bitcoin Idiot I am talking to the large number of individuals who have no idea what “Blockchain” is or the roll that it plays in Bitcoin. More importantly the role Bitcoin has played in the development of Blockchain.

Blockchain is bitcoin
“A business blockchain, such as IBM Blockchain and the Linux Foundation’s Hyperledger Project, provides a permissioned network with known identities. And unlike Bitcoin, there is no need for cryptocurrency exchange.around the world that have no basis or training and Bitcoin or what it represents.

Bitcoin is about “Blockchain Technology”  

So just what is a “Blockchain” and how does it work.

As the video points out the potential uses and technical advantages of Blockchain Technology is in its infancy causing it to catch the eye of many businesses. Important to understand is that Blockchain technology was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger. The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem without the need of a trusted authority or central server. The bitcoin design has been the inspiration for other applications.

Bitcoin Scam?

So to address the idiotic statement made by all those Bitcoin Idiots that say things like “Bitcoin is a scam!”. What they are failing to understand is that right now buying Bitcoin as an investment is speculative at best.  And, yes it is very volatile. This is the reasons that some people have made literally millions of dollars while others have lost.

Would you invest in the stock market without any knowledge or education about how it is done. Purchasing Bitcoin as an investment without proper training is insane. Yes, it is volatile does that make it a scam? The best thing to do is to educate yourself about Blockchain and Cryptocurrency because they are here to stay.


Here is one of the best learning tools

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2 thoughts on “Bitcoin Idiots”

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