30 Dec '12, 8am

Bitcoin Magazine - Common Misconceptions About Bitcoin #bitcoin

Bitcoin Magazine - Common Misconceptions About Bitcoin A new post on Bitcoin Magazine (@BitcoinMagazine ), which earlier this month underwent a change of ownership, clears up some misconceptions surrounding Bitcoin. Excerpts: “Bitcoin does not have a central organization or authority. […] Rather than thinking of Bitcoin as a product released by a traditional corporation, it is more appropriate to think of it as a self-sustaining digital commodity, similar to gold.” - “The Bitcoin price did NOT fall to $0.01 in June 2011. […] The root cause was a security mishap at a third party service. Aside from the attacker, no human being was, at any point, willing to sell bitcoins at anything close to $0.01.” - “Bitcoin is NOT (yet) seeing massive growth in usage to evade trade sanctions in Iran. […] The media took a single story of an Iranian earning bitcoins by selling music on Coin...

Full article: http://www.bitcoinnews.com/post/39203275478/bitcoin-commo...

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