5 More Bitcoin Myths - Debunked
Let’s talk about the next myths about bitcoin.
Myth 6: “Bitcoin Can Be Turned Off”
Some believe that governments or large corporations could simply “turn off” Bitcoin. Could the government shut down Bitcoin? In reality, Bitcoin can only be shut down if the entire internet and electricity grid worldwide were turned off.
Bitcoin is a decentralized network run by thousands of nodes across the globe. There’s no central server, no single office, and no “off switch.” As long as one computer anywhere in the world remains online, Bitcoin continues to function.
Myth 7: “It Takes a Lot of Money to Buy Bitcoin”
Many people think they need thousands of dollars to start with Bitcoin. The truth? You can buy a tiny fraction of a Bitcoin — even just a few cents worth.
Bitcoin is divisible up to eight decimal places, meaning you can own 0.00000001 BTC (called one satoshi). If you want to try it out, you don’t need to buy a full Bitcoin — you can start small.
Myth 8: “The Bitcoin Train Has Already Left”
It’s common to hear, “I’m too late; I should’ve bought it years ago.” But that’s like saying you’re too late to use the internet because websites already exist.
Bitcoin is not a trend — it’s a technological breakthrough in money. The best time to start learning or using it is always now. Just like upgrading a dull knife for a sharper one, adopting better financial technology is never “too late.”
Bitcoin continues to grow, evolve, and be adopted globally — meaning its story is far from over.
Myth 9: “Bitcoin Is the Same as Other Crypto Projects”
Bitcoin was launched through an open and decentralized process, without pre-mining, venture capital, or a company behind it. Anyone could (and still can) join the network, mine Bitcoin, and contribute improvements.
Today, Bitcoin remains the most decentralized and secure blockchain in the world. There’s no CEO, no marketing department, and no foundation controlling it. Compare that to most new crypto projects, which are often run by small teams, have business plans, and are built for profit — Bitcoin stands apart as open, neutral, and leaderless.
That’s also why central banks, large companies, and even governments are now holding bitcoin on their balance sheets.
Myth 10: “Bitcoin Is a Bubble with No Real Value”
“Bitcoin has no value,” some say. If that’s true, please — send me five bitcoin right now.
Value doesn’t come from thin air; it comes from what people are willing to exchange for it. Bitcoin’s price is set freely by millions of buyers and sellers around the world — not by any company or government.
Moreover, value is subjective. If you’re in a desert dying of thirst, a bottle of water is worth far more than a kilo of gold. Bitcoin’s value lies in what it offers — a decentralized, censorship-resistant form of money that anyone can hold, transfer, and verify without trusting intermediaries.
Conclusion
Bitcoin myths often stem from misunderstanding — but with a bit of curiosity, they fall apart quickly. It’s not magic internet money or a passing trend; it’s a global, decentralized network redefining what money can be.
The best way to understand Bitcoin? Start small, learn, and see for yourself why it keeps attracting millions around the world.