Have you ever heard of a ban on bitcoin in China? Or mining will cause the earth to destroy? You must have heard it. FUD (fear, uncertainty, suspicion) is like a thick fog around you, so that you can’t see it. Although some people have been clarifying that some rumors related to bitcoin have been spread too widely and have a bad impact, it is difficult to disappear completely. This article refers to the worst of these three.
“Bitcoin has fallen into the whirlpool of death.”
The word “death whirlpool” sounds cool, like the plot in Star Wars, but in the real world the word is boring. This week, the frequency of the word is very high, often used to describe the fall in bitcoin prices, which has led to a decline in the power of the miner’s protection network.
Some panic makers say that once the price of bitcoin falls below the cost of mining, a large number of miners will turn off and eventually cause the bitcoin to fall to the same situation as the green coin.
Only to say, this is a nonsense. First, bitcoin is far away from the cost of mining – most likely about $2000; and, with the decline in computing power, some miners will have the power to re-enter the network for economic considerations.
The whirlpool of death sounds terrible, but it can’t happen for a variety of reasons.
“Bitcoin will return to zero”
Why do so many people like to say that bitcoin will go to zero? Because bitcoin will fall to $872.53, it’s more likely to say bitcoin zeros. Even the “most loyal” critic of bitcoin is clear that bitcoin cannot be zero, but as long as someone is willing to believe, they will continue to propagate the wrong theory.
Predicting the lowest point of the bitcoin price is an interesting intellectual training, and even in the worst case, bitcoin cannot be zero. Hundreds of dollars or thousands of dollars may sound likely, but it will bring bitcoin back to the time of 2016.
The bitcoin critics ignore a fact when he makes an exaggerated prediction – even if the price of bitcoin is only $100, it still has a large number of applications, as it does when it is 10000 dollars. The price of bitcoin is only temporary, but its anti censorship is characteristic of eternity.
“Bitcoin will be replaced by the next generation of block chains.”
You may have heard someone say that bitcoin is really good in his own time, but now it’s out of date. Now it’s the age of block chain 3. No one will use a chain that can’t be expanded and has no governance mode. Now it’s DAG, DPoS, BFT.
People who measure the value of the bitcoin with the number of TPS, intelligent contracts and side chains do not actually know bitcoin. Being attracted by the new block chain is also a part of the learning. Once you have completed this step, you will still choose bitcoin, only this chain is the greatest.
From the rumor of energy consumption to the FUD of the whirlpool of death, the mainstream media like to take bits of money to make articles. In order to clarify all the false information, the lifetime of the time may be too short. Rumors about bitcoin are unlikely to disappear in the short term. Whether its power is 60 EH/S or 6ETH/S, whether its price is $2000 or $20000, the rumor will continue. This is part of its development cycle.