❗#Don't blame Bitcoin
1. Bitcoin is completely anonymous
Misconception: Bitcoin is anonymous and is a great tool for criminals.
Fact:
Bitcoin transactions are conducted under pseudonyms, but are not completely anonymous. All transactions are recorded on the blockchain, a transparent public ledger. The transparency of the blockchain makes it difficult for criminals to commit crimes without leaving a trace, and law enforcement agencies actively use the blockchain to track illegal activities.
2. Bitcoin is a Ponzi schemeMisconception:
Bitcoin is a Ponzi scheme, where the funds of new investors are used to pay existing investors.
Fact: Bitcoin is a decentralized digital currency with actual utility, which is fundamentally different from a Ponzi scheme. A Ponzi scheme involves using the funds of new investors to pay existing investors, and Bitcoin has no such operating mechanism.
3. Bitcoin is not environmentally friendlyMisconception:
The Bitcoin mining process consumes extremely high energy and is harmful to the environment.
Fact: Bitcoin's energy consumption is often misinterpreted compared to traditional financial systems or household appliances. Blockchain networks consume less energy than most traditional financial systems, and the use of renewable resources in the mining process is increasing. According to research, the energy consumption of the world's leading 100 bank data centers is more than twice that of the Bitcoin network.
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