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Other lies or misinformation that some people spread about crypto:

1) All cryptos are a Ponzi scheme.

Many — perhaps most — are, but not Bitcoin, Ethereum and many others.

2) They're primarily used by criminals.

3) They have no value.

4) All cryptocurrencies are bad for the environment.

Yes, Bitcoin is energy-intensive, and there is a lot of e-waste associated with mining equipment.

Still, we know that >50% of BTC mining nowadays uses clean(er) energy, i.e., nuclear and renewables.

Additionally, many industries that involve physical mining are also problematic for the environment, so it's a bit rich for people to single out Bitcoin.

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Crypto with Lorenzo
Crypto with Lorenzo

Written by Crypto with Lorenzo

Aussie crypto enthusiast. Nothing here is financial advice + DYOR. I will never contact you first, and beware of unsolicited communication. On X & Bluesky.

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