# All Roads Lead to Bitcoin > From Scarcity Comes Abundance ## Posts - [The Fork That Didn't Change Bitcoin](https://allroadsbitcoin.com/the-fork-that-didnt-change-bitcoin/): A live case study. In 2026 a group could not change Bitcoin, so they launched a separate BLAKE2b chain. Bitcoin ran on unchanged, and almost no one followed. - [Bitcoin’s Real Supply Cap](https://allroadsbitcoin.com/bitcoin-real-supply-cap/): Bitcoin’s Real Supply Cap: Why It Isn’t Exactly 21 Million Bitcoin’s issuance schedule tops out at 20,999,999.9769 bitcoin, and the number that ends up in circulation will be lower again. Everybody rounds to 21 million, including us. It’s worth knowing what gets rounded away, because the direction of the error is the interesting part. Short... - [Three Questions to Ask About Any Money](https://allroadsbitcoin.com/three-questions-about-any-money/): Three Questions to Ask About Any Money: Verifying Bitcoin, Gold, and the Dollar The Federal Reserve publishes how many dollars exist. The Treasury publishes how much gold sits in Fort Knox, down to a thousandth of an ounce. Both numbers are public, and you can’t check either one. That’s the difference worth understanding. Short Answer... - [The Bitcoin Power Law: The Pattern in the Price](https://allroadsbitcoin.com/bitcoin-power-law/): The Bitcoin Power Law: The Pattern in the Price On a normal price chart, Bitcoin looks like chaos. On one particular kind of chart, fifteen years of that chaos lines up into a straight line. That line is the Bitcoin power law, and it’s useful as long as you know what it can and can’t... - [Money Is a Competition: What Really Backs Bitcoin, Gold, and the Dollar](https://allroadsbitcoin.com/money-is-a-competition/): Money Is a Competition: What Really Backs Bitcoin, Gold, and the Dollar The question “what backs Bitcoin?” assumes money needs something standing behind it. It doesn’t. Money is a competition, and what people hold turns more on how well something works as money than on what stands behind it. Short Answer Bitcoin isn’t backed by... - [What Is a Hard Fork?](https://allroadsbitcoin.com/what-is-a-hard-fork/): What Is a Hard Fork? A group of people can copy Bitcoin’s code and start a new chain any time they like. Almost none of them ever change Bitcoin itself. A hard fork is the tool they reach for, and the history of every attempt shows why the tool splits off a new network far... - [The Bitcoin genesis block](https://allroadsbitcoin.com/bitcoin-genesis-block/): The Bitcoin Genesis block Bitcoin’s very first block, mined on January 3, 2009, carries a line lifted from that morning’s newspaper, a headline about a government bailing out its banks. It works as a timestamp. It also reads as a reason. Bitcoin began by pointing at the thing it was built to replace. Short Answer... - [The first Bitcoin transaction](https://allroadsbitcoin.com/first-bitcoin-transaction/): The first Bitcoin transaction The first bitcoin transaction happened on January 12, 2009, when Satoshi Nakamoto sent 10 bitcoin to a programmer named Hal Finney. It looks like a footnote next to the Genesis block, but it matters more. A network of one is just a program running. This was the day a second person... - [How to Store Bitcoin Safely: Hold Your Own Keys](https://allroadsbitcoin.com/how-to-store-bitcoin-safely/): How to store bitcoin safely How to store bitcoin safely comes down to one skill, not one gadget. You hold the keys, you keep a backup offline, and you never let anyone else near either one. The tools will change over the years; the skill does not. Here is what it means to hold your... - [The Coldcard seed vulnerability and what the advisory says](https://allroadsbitcoin.com/coldcard-seed-vulnerability/): The Coldcard seed vulnerability and what the advisory says On 30 July 2026, bitcoin began draining out of Coldcard wallets. The first wave lasted about 41 minutes; over the following days the total climbed, wave after wave, past 116 million dollars as of publication and was still rising. Coinkite, which makes the Coldcard hardware wallet,... - [Did You Know? Bitcoin Just Fell 53%, and That Is Not Even Its Worst Crash](https://allroadsbitcoin.com/did-you-know-2026-bitcoin-crash/): How Bitcoin secures your wealth Securing wealth comes down to defending against two threats. Someone seizes your money, or the people who print it quietly make it worth less. Bitcoin was built to close both doors. Here is how ownership works when no bank holds your money and no one can print more of it.... - [Shakespeare on money: the quotes everyone shares come from fools and villains](https://allroadsbitcoin.com/shakespeare-money-quotes/): Shakespeare Money Quotes: Who Actually Said Them | All Roads Lead to Bitcoin Perspectives · Money in Literature Shakespeare on money: the quotes everyone shares come from fools and villains Shakespeare’s most quoted money lines come from a windbag, a con man, and a villain mid-manipulation. Checking the source changes what the quotes mean, and... - [Did You Know? Bitcoin Has Never Priced Anything in Dollars.](https://allroadsbitcoin.com/did-you-know-is-anything-priced-in-bitcoin/): Short Answer Is anything priced in Bitcoin? Yes, Bitcoin itself. Every transaction fee, mining reward, and Lightning payment on the network is denominated in satoshis, and the protocol has never quoted a dollar in its life. Out in the world, contracts, salaries, and aid are already fixed in Bitcoin where official money has failed. The... - [Bitcoin Cannot Be a Unit of Account](https://allroadsbitcoin.com/bitcoin-myths-20-bitcoin-unit-of-account/): Bitcoin Myths · #20 of 20 Bitcoin Cannot Be a Unit of Account The twentieth and final myth in this series is the one that quietly concedes the other nineteen. Nothing is priced in Bitcoin, the critic says, so it fails money’s last test. This article at allroadsbitcoin.com explains why that test comes last, where... - [Did You Know? Bitcoin's Busiest Checkouts Are Not Where You Think.](https://allroadsbitcoin.com/did-you-know-does-anyone-use-bitcoin/): Short Answer Does anyone use Bitcoin? About 365 million people own it, and its busiest users are not in your checkout line. Usage concentrates where money is failing, from market stalls in Malawi to savings in Buenos Aires, while at home it arrives quietly, inside brokerage accounts and payment terminals. The Checkout Lines You Never... - [No One Accepts Bitcoin](https://allroadsbitcoin.com/bitcoin-myths-19-who-accepts-bitcoin/): Bitcoin Myths · #19 of 20 No One Accepts Bitcoin So, who accepts Bitcoin? Fewer than the believers claim, and far more than the skeptics admit. This article at allroadsbitcoin.com counts the owners, maps the merchants, and explains why the gap between the two is a stage of monetary history, not a verdict on the... - [Did You Know? People Send Bitcoin on Feature Phones with No Internet.](https://allroadsbitcoin.com/did-you-know-is-bitcoin-hard-to-use/): Short Answer Is Bitcoin hard to use? No. Buying it takes a few taps in apps people already trust, and at the far end of the spectrum, people across Africa send Bitcoin on basic feature phones with no internet connection on the device. The complexity lives in the protocol, not in your hands. The People... - [Bitcoin Is Too Complicated for Mass Adoption](https://allroadsbitcoin.com/bitcoin-myths-18-is-bitcoin-too-complicated/): Bitcoin Myths · #18 of 20 Bitcoin Is Too Complicated for Mass Adoption Is Bitcoin too complicated for ordinary people to adopt? This article at allroadsbitcoin.com separates the complexity of the protocol from the experience of the user, and shows that the test a money has to pass has never been whether people understand it,... - [Did You Know? A Pyramid Scheme Needs Someone at the Top. Bitcoin Has No One.](https://allroadsbitcoin.com/did-you-know-is-bitcoin-a-pyramid-scheme/): Short Answer Is Bitcoin a pyramid scheme? No. A pyramid scheme pays the people at the top with money from the people they recruit below. It needs a top, a chain of recruiters, and someone taking a cut. Bitcoin has no top, no operator, and no one collecting from anyone. What a Pyramid Scheme Actually... - [Bitcoin Is a Ponzi Scheme](https://allroadsbitcoin.com/bitcoin-myths-17-is-bitcoin-a-ponzi-scheme/): Bitcoin Myths · #17 of 20 Bitcoin Is a Ponzi Scheme Few objections to Bitcoin are as common, or as loosely thrown around, as the Ponzi label. So, is Bitcoin a Ponzi scheme? This article at allroadsbitcoin.com sets the legal definition of a Ponzi scheme next to how Bitcoin actually works, point by point, and... - [Did You Know? In 2017, Miners With 80% of Bitcoin's Hash Rate Tried to Force a Rule Change. The Nodes Rejected It.](https://allroadsbitcoin.com/did-you-know-do-miners-control-bitcoin/): Short Answer Do miners control Bitcoin? No. Miners produce blocks, but nodes enforce the rules. In 2017, miners with majority hash rate tried to force a change and the nodes rejected it, which settled the question empirically. What Miners Can and Cannot Do The concern about Bitcoin being centralized by miners rests on a real... - [Bitcoin Is Centralized by Miners](https://allroadsbitcoin.com/do-miners-control-bitcoin-why-nodes-decide-the-rules-bitcoin-myths-16/): Bitcoin Myths · #16 of 20 Bitcoin Is Centralized by Miners The claim that Bitcoin is controlled by miners rests on a misunderstanding of how the network enforces its rules. This article at allroadsbitcoin.com examines the actual relationship between miners and node operators, and what the 2017 Block Size War proved when miners controlling the... - [Did You Know? Bitcoin Has Recovered From Every Major Crash Unlike Actual Bubbles](https://allroadsbitcoin.com/did-you-know-bitcoin-greater-fool-theory/): Short Answer Is Bitcoin a greater fool game? The greater fool theory requires an asset with no underlying utility. Bitcoin has documented, real-world utility that works at any price. That is the distinction that matters. What a Greater Fool Asset Actually Looks Like Is Bitcoin a greater fool game? To answer that, the theory needs... - [Bitcoin Is a Greater Fool Game | Myth #15](https://allroadsbitcoin.com/bitcoin-myths-15-greater-fool-game/): Bitcoin Myths · #15 of 20 Bitcoin Is a Greater Fool Game Is Bitcoin a greater fool game? The greater fool theory describes an asset whose price is driven entirely by the hope of selling to someone else at a higher price, with no underlying utility. This article at allroadsbitcoin.com examines whether that description fits... - [Your AI Sounds Sure About Bitcoin. That Is the Problem.](https://allroadsbitcoin.com/why-ai-gets-bitcoin-wrong/): Your AI Sounds Sure About Bitcoin. That Is the Problem. | All Roads Lead to Bitcoin Your AI Sounds Sure About Bitcoin. That Is the Problem. Can you trust AI about Bitcoin? Not without knowing where it learned. AI doesn’t lie on purpose — it absorbed its knowledge from the internet, and the internet has... - [Did You Know? The Framework Critics Use to Dismiss Bitcoin Also Dismisses the Dollar](https://allroadsbitcoin.com/did-you-know-bitcoin-intrinsic-value/): Bitcoin Myths · #14 of 20 Short Answer When critics say Bitcoin has no intrinsic value, they are applying a stock valuation tool to a monetary asset. That same tool, applied consistently, also disqualifies the US dollar and physical gold. Prefer a visual? The infographic version of this article covers the productive versus monetary asset... - [Bitcoin Has No Intrinsic Value | Myth #14](https://allroadsbitcoin.com/bitcoin-myths-14-bitcoin-has-no-intrinsic-value/): Bitcoin Myths · #14 of 20 Bitcoin Has No Intrinsic Value The “no intrinsic value” objection is one of the oldest and least examined critiques of Bitcoin. It rests on a definition of value that also disqualifies the US dollar, physical gold, and nearly every financial instrument the critics themselves trust. Short Answer Does Bitcoin... - [Did You Know? Bitcoin Inherited Gold's Monetary Logic — and Removed Its Biggest Weakness](https://allroadsbitcoin.com/did-you-know-gold-vs-bitcoin/): Short Answer Is gold better than Bitcoin? Gold pioneered the qualities sound money requires. Bitcoin inherited them and removed the one vulnerability gold never could, physical seizure by the state. Why Gold Became the World’s Money For most of recorded history, gold was the best answer humanity had to a persistent problem. How do you... - [Gold Is Superior to Bitcoin](https://allroadsbitcoin.com/bitcoin-myths-13-gold-superior-to-bitcoin/): Bitcoin Myths · #13 of 20 Gold Is Superior to Bitcoin Gold has a 5,000-year monetary track record. The case for gold as the superior store of value is not irrational. The case for Bitcoin is that it improves on every quality that made gold valuable while removing the physical vulnerabilities that gold, by its... - [Did You Know? Bitcoin Has No Reset Button, and No One Can Create One](https://allroadsbitcoin.com/did-you-know-bitcoin-no-reset/): Short Answer A Bitcoin reset is not technically possible. Bitcoin has no administrator, no privileged account, and no override mechanism. A redistribution or reset would require convincing thousands of financially motivated, independent participants to vote against their own interests, and the incentive structure makes that outcome extremely unlikely. Imagine You Want to Reset Bitcoin You... - [Bitcoin Should Be Redistributed or Reset | Bitcoin Myths #12](https://allroadsbitcoin.com/bitcoin-myths-12-bitcoin-redistribution-reset/): Bitcoin Myths · #12 of 20 Bitcoin Should Be Redistributed or Reset Bitcoin has no way to redistribute or reset itself, and that is not an oversight. The rules are enforced by mathematics and by thousands of independent participants who have every financial reason to keep them intact. Short Answer Can Bitcoin be redistributed or... - [Did You Know? Is Bitcoin Safe on an Exchange?](https://allroadsbitcoin.com/is-bitcoin-safe-on-an-exchange/): Bitcoin Myths · #11 of 20 Short Answer Is bitcoin safe on an exchange? Not in the way most people assume. The exchange holds the private keys, not you. You hold a balance in their system. For most beginners that is a reasonable starting point, but it is a custodial arrangement, not direct ownership, and... - [Your Bitcoin Is Yours on an Exchange | Bitcoin Myths #11](https://allroadsbitcoin.com/bitcoin-myths-11-bitcoin-on-exchange/): Bitcoin Myths · #11 of 20 Your Bitcoin Is Yours on an Exchange When you buy bitcoin on an exchange and leave it there, it feels like ownership. The balance appears in your account, the price moves with the market, and nothing seems wrong. But exchange custody and direct ownership are two different things, and... - [Bitcoin Physically Resides in Your Wallet | Bitcoin Myths #10](https://allroadsbitcoin.com/bitcoin-myths-10-bitcoin-lives-in-your-wallet/): Bitcoin Myths · #10 of 20 Bitcoin Physically Resides in Your Wallet Does bitcoin live in your wallet, your phone, or your hardware device? It does not. It exists as a record on the Bitcoin blockchain, a ledger replicated across more than 20,000 computers worldwide, and your wallet holds only the keys that prove you... - [Did You Know? Your Bitcoin Is Not Actually in Your Wallet](https://allroadsbitcoin.com/did-you-know-bitcoin-lives-on-the-blockchain/): Bitcoin Myths · #10 of 20 Short Answer Where is bitcoin stored? Not in your wallet, your phone, or any device. It exists as a record on the Bitcoin blockchain, replicated across more than 20,000 computers worldwide. Your wallet holds only the key that proves you own it. A wallet holds keys. Not coins. The... - [Bitcoin Government Ban: Why No Country Has Stopped the Protocol | AllRoadsBitcoin](https://allroadsbitcoin.com/did-you-know-bitcoin-government-ban/): Bitcoin Myths · #5 of 20 Short Answer A bitcoin government ban on exchanges is achievable. A bitcoin government ban on the protocol is not. The network has no headquarters, no CEO, and no off switch. China banned an estimated 65% of global mining capacity in 2021. The network kept running without interruption. The bitcoin... - [Bitcoin Crash Recovery: Four Crashes, Four All-Time Highs](https://allroadsbitcoin.com/did-you-know-bitcoin-crash-recovery/): Bitcoin Myths · #4 of 20 Short Answer The bitcoin crash recovery pattern is consistent, four crashes over 75% and four new all-time highs. Speculative bubbles (tulip mania, the Mississippi Company, dot-com stocks) don’t do this. The crash is not what defines a bubble. What happens next is. Every time Bitcoin’s price drops sharply, the... - [Did You Know? Only 0.15% of Bitcoin Transactions Are Linked to Crime](https://allroadsbitcoin.com/did-you-know-bitcoin-crime-rate/): Bitcoin Myths · #3 of 20 Did You Know? Only 0.15% of Bitcoin Transactions Are Linked to Crime Short Answer According to Chainalysis, illicit activity accounted for 0.15% of all Bitcoin transactions in 2022, down from 0.34% the year before. The UN Office on Drugs and Crime estimates that 2 to 5 percent of global... - [Did You Know? Bitcoin's Volatility Has Fallen Every Market Cycle](https://allroadsbitcoin.com/did-you-know-bitcoin-volatility-declining/): Bitcoin Myths · #2 of 20 Did You Know? Bitcoin’s Volatility Has Fallen Every Market Cycle Short Answer Bitcoin volatility is declining, from roughly 140% annualized in 2011 to approximately 50% in 2023-2025. The trend is consistent across every market cycle, and the direction has not changed. The most common criticism of Bitcoin as money... - [Did You Know? Bitcoin Uses Less Energy Than the Global Banking System](https://allroadsbitcoin.com/did-you-know-bitcoin-energy-banking/): Bitcoin Myths · #1 of 20 Short Answer Bitcoin energy banking comparison: 138 TWh versus 263 TWh. Bitcoin uses less energy than the global banking system and less than gold mining. More than half of that energy now comes from sustainable sources. The most common objection to Bitcoin is also the least examined. Bitcoin uses... - [Did You Know? Altcoins and Bitcoin Aren't Even Competing for the Same Job](https://allroadsbitcoin.com/did-you-know-altcoins-vs-bitcoin/): Bitcoin Myths · #8 of 20 Short Answer Altcoins vs Bitcoin is not a fair comparison. They are not competing for the same outcome. Altcoins are built for speed, programmability, and features. Bitcoin is built to be money no one controls. Comparing them as rivals is like comparing a cargo ship to a sports car.... - [Did You Know? Bitcoin Runs on Physical Machines in 181 Countries](https://allroadsbitcoin.com/did-you-know-bitcoin-physical-infrastructure/): Bitcoin Myths · #7 of 20 Short Answer The bitcoin physical form objection is common but incomplete. The network runs on real hardware in the real world. Over 21,000 computers across 181 countries maintain the ledger. Warehouses of specialized machines consume auditable electrical energy with every block. More than 39,000 ATMs provide physical access. The... - [Did You Know? Real Estate Got Its Value from Broken Money](https://allroadsbitcoin.com/did-you-know-real-estate-value-broken-money/): Bitcoin Myths · #9 of 20 Short Answer Real estate didn’t become one of the world’s biggest asset classes because houses got better. It happened because money stopped working, and people had nowhere else to put their savings. The price of shelter isn’t just about shelter Here’s something worth sitting with. A typical US home... - [Real Estate Is a Better Store of Value Than Bitcoin | Bitcoin Myths #9](https://allroadsbitcoin.com/bitcoin-myths-9-real-estate-better-store-of-value/): Bitcoin Myths · #9 of 20 Real Estate Is a Better Store of Value Than Bitcoin Real estate is the world’s dominant asset class for a reason. It absorbed the demand for a reliable store of value when the monetary system stopped providing one. This article examines what real estate does well, where its structural... - [Altcoins Are Better Than Bitcoin | Bitcoin Myths #8](https://allroadsbitcoin.com/bitcoin-myths-8-altcoins-are-better-than-bitcoin/): Altcoins Are Better Than Bitcoin | Bitcoin Myths #8 | All Roads Lead to Bitcoin Bitcoin Myths · #8 of 20 Altcoins Are Better Than Bitcoin The claim assumes altcoins and Bitcoin are competing for the same outcome. They are not. What Bitcoin actually optimizes for is what most comparisons skip entirely. Short Answer Altcoins... - [Bitcoin Has No Physical Form | Bitcoin Myths #7](https://allroadsbitcoin.com/bitcoin-myths-7-bitcoin-has-no-physical-form/): Bitcoin Has No Physical Form or Real-World Utility | Bitcoin Myths #7 | AllRoadsBitcoin Bitcoin Myths · #7 of 20 Bitcoin Has No Physical Form and No Real-World Utility. The Evidence Disagrees. The claim bundles two separate objections. The first is factually wrong. Bitcoin is anchored to physical hardware, energy infrastructure, and over 39,000 physical... - [Common Bitcoin Myths Debunked with Facts and Clarity](https://allroadsbitcoin.com/bitcoin-myths-explained/): Common Bitcoin Myths Debunked with Facts and Clarity — AllRoadsBitcoin Bitcoin Myths · The Full Series Twenty Bitcoin Myths. Here Is What the Evidence Shows. Bitcoin is one of the most misrepresented subjects in financial media. Most criticisms recycle the same handful of claims (energy use, volatility, crime) without checking the data or comparing Bitcoin... - [What are bitcoin-adjacent securities?](https://allroadsbitcoin.com/what-are-bitcoin-adjacent-securities-all-roads-lead-to-bitcoin/): An introduction to Bitcoin-adjacent securities and the ways traditional financial products provide exposure to Bitcoin without owning it directly. - [Bitcoin beginner's guide](https://allroadsbitcoin.com/bitcoin-beginners-guide/): Bitcoin beginner’s guide This bitcoin beginners guide is the short version of everything a new person needs, with no hype and no jargon left unexplained. It covers what Bitcoin is in one breath, how to buy your first bit safely, how to hold it so it’s really yours, and what to read next. Start small,... - [You Need to Buy a Whole Bitcoin | Bitcoin Myths #6](https://allroadsbitcoin.com/you-need-to-buy-a-whole-bitcoin-bitcoin-myths-6/): Bitcoin Myths · #6 of 20 You Don’t Need to Buy a Whole Bitcoin. Satoshis Are the Real Unit of Account. Bitcoin is divisible to eight decimal places. The smallest unit is a satoshi, one hundred-millionth of a bitcoin. You can buy $5 or $5,000 worth on any major exchange and own exactly that value... - [Can Governments Ban Bitcoin? | Bitcoin Myths #5](https://allroadsbitcoin.com/can-governments-ban-bitcoin-myths-5/): Can Governments Ban Bitcoin? The Network Has No Off Switch | Bitcoin Myths #5 | AllRoadsBitcoin Bitcoin Myths · #5 of 20 Can Governments Ban Bitcoin? The Network Has No Off Switch. Governments can shut down exchanges, restrict banks from processing Bitcoin transactions, and make holding legally complicated. None of that is the same as... - [Is Bitcoin a Bubble? | Bitcoin Myths #4](https://allroadsbitcoin.com/bitcoin-myths-4-is-bitcoin-a-bubble-why-its-not-a-speculative-frenzy/): Is Bitcoin a Bubble? Four Crashes, Four Recoveries | Bitcoin Myths #4 | AllRoadsBitcoin Bitcoin Myths · #4 of 20 Bitcoin Has Recovered From Every Major Crash. Speculative Bubbles Do Not. Bitcoin gets compared to tulip mania and the dot-com crash every time its price drops sharply. The comparison is made often enough to sound... - [Bitcoin Is Only Used by Criminals | Bitcoin Myths #3](https://allroadsbitcoin.com/bitcoin-myths-3-bitcoin-is-only-used-by-criminals/): Bitcoin Transactions Are Publicly Traceable. That Is Why Criminals Prefer Cash. | Bitcoin Myths #3 | AllRoadsBitcoin Bitcoin Myths · #3 of 20 Bitcoin Transactions Are Publicly Traceable. That Is Why Criminals Prefer Cash. Bitcoin has been used in illegal transactions, as has every form of money. The difference is that Bitcoin’s public ledger records... - [Bitcoin Is Too Volatile to Be Useful | Bitcoin Myths #2](https://allroadsbitcoin.com/bitcoin-myths-2-bitcoin-is-too-volatile-to-be-useful/): Bitcoin Is Volatile. Every Emerging Asset Was. | Bitcoin Myths #2 | AllRoadsBitcoin Bitcoin Myths · #2 of 20 Bitcoin Is Volatile. Every Emerging Asset Was. Bitcoin’s price swings are real. So are the Venezuelan bolívar’s, the Turkish lira’s, and the Nigerian naira’s. Volatility is what early adoption looks like in an asset with fixed... - [Is Bitcoin sound money?](https://allroadsbitcoin.com/bitcoin-sound-money/): Is Bitcoin sound money? Sound money is money no one can quietly make more of. Fiat currency fails that test. Bitcoin passes it. Here is what the term means, why it matters for what you save, and where the difference is already changing lives. Short Answer Sound money is money whose supply cannot be easily... - [Bitcoin Uses Too Much Energy | Bitcoin Myths #1](https://allroadsbitcoin.com/bitcoin-myths-1-bitcoin-uses-too-much-energy/): Bitcoin Uses Less Energy Than Banking | Bitcoin Myths #1 | AllRoadsBitcoin Bitcoin Myths · #1 of 20 Bitcoin Uses Less Energy Than Banking. The Headlines Skip That Part. Bitcoin’s energy use is purposeful. It secures a decentralized monetary network that no bank, government, or company controls. When you compare it against the systems Bitcoin... - [Bitcoin in its simplest form](https://allroadsbitcoin.com/bitcoin-in-its-simplest-form/): Bitcoin in its simplest form Bitcoin is money you can hold and send yourself, with no bank in the middle. It is not a company, a stock, or a website. It is a shared record, a secret key that only you hold, and a network that agrees on the rules. Everything else is detail built... - [Bitcoin Pizza Day](https://allroadsbitcoin.com/bitcoin-pizza-day/): Bitcoin Pizza Day Bitcoin Pizza Day is May 22, the day in 2010 a programmer paid 10,000 bitcoin for two pizzas. It’s told as the most expensive lunch in history, and the joke writes itself. But the story worth telling is a different one. It’s the day bitcoin first bought something real, and that’s how... - [Why self-custody matters](https://allroadsbitcoin.com/why-is-security-and-self-custody-crucial-to-the-bitcoin-vision/): Why self-custody matters Self-custody is the difference between owning bitcoin and owning a promise that someone will give you bitcoin. It means holding your own keys, so no exchange, bank, or government sits between you and your money. This is what self-custody is, why control of the keys is the same thing as ownership, and... - [What is the Bitcoin Standard?](https://allroadsbitcoin.com/what-is-the-bitcoin-standard/): What is the Bitcoin Standard? The Bitcoin Standard is a 2018 book by economist Saifedean Ammous. Its argument is easy to state and hard to shake. A money holds its value only as long as no one can easily make more of it, and by that test, the book argues, Bitcoin is the hardest money... - [Did You Know You Don't Have to Buy a Whole Bitcoin?](https://allroadsbitcoin.com/did-you-know-you-dont-have-to-buy-a-whole-bitcoin/): Bitcoin Myths · #6 of 20 Short Answer You don’t have to buy a whole Bitcoin. Bitcoin divides into 100 million units called satoshis. You can buy $5, $50, or $500 worth and receive the exact equivalent in sats. Most people who own Bitcoin have never bought a whole bitcoin. Where the confusion starts Bitcoin’s... - [How Bitcoin Solves the Double-Spending Problem](https://allroadsbitcoin.com/how-bitcoin-solves-the-double-spending-problem/): How Bitcoin solves the double spending problem Double spending is the problem that stopped every attempt at digital cash for thirty years. A digital coin is a file, and a file can be copied and sent to two people at once. Every earlier fix needed a bank in the middle to keep score. Here is... - [Who Created Bitcoin? How Bitcoin Started](https://allroadsbitcoin.com/who-created-bitcoin/): Who created Bitcoin Who created Bitcoin is one of the few questions in modern technology with no verified answer. We know what the creator did, and we know it in remarkable detail, dated to the minute. We do not know who the creator is. Here is the documented record, the untouched fortune, and why the... - [Why Bitcoin Has Value](https://allroadsbitcoin.com/why-bitcoin-has-value/): Why Bitcoin has value Money does not need a physical thing sitting behind it to have value. What matters is whether people find it useful, scarce, durable, and trustworthy enough to accept. Bitcoin value does not depend on something sitting behind it either. It depends on what the network provides and whether people keep valuing... - [Bitcoin: Decentralization and Security](https://allroadsbitcoin.com/bitcoin-decentralization-and-security/): How decentralization makes Bitcoin secure Bitcoin decentralization and security are two names for one thing. No company runs the network, no one can rewrite the rules, and there is nothing central to shut down. Here is how thousands of strangers, with no one in charge, keep the ledger honest and unstoppable. Short Answer Bitcoin’s decentralization... - [Securing Wealth: Bitcoin's Decentralization & Security Explained](https://allroadsbitcoin.com/securing-wealth-bitcoins-decentralization-security-explained/): How Bitcoin secures your wealth Securing wealth comes down to defending against two threats. Someone seizes your money, or the people who print it quietly make it worth less. Bitcoin was built to close both doors. Here is how ownership works when no bank holds your money and no one can print more of it.... ## Pages - [Books](https://allroadsbitcoin.com/books/): Books The evidence, in long form. Each book takes the case further than an article can, and every claim still shows its work. The Bitcoin Myths, as a book Reasonable Doubt Twenty Bitcoin Myths, Weighed Against the Evidence D. M. Faraday You think Bitcoin is probably nonsense, and part of you isn’t sure. This book... - [](https://allroadsbitcoin.com/the-euclidean-method/): How We Think The Euclidean Method All Roads Bitcoin makes one promise, evidence over hype and no price calls. Keeping it comes down to a seven-step test, and every claim on the site, for Bitcoin or against it, goes through it before we publish a word. The short version Most arguments about Bitcoin are not... - [How Many Bitcoin Are There? A Live Count to 21 Million](https://allroadsbitcoin.com/infographic/how-many-bitcoin-are-there/): Did You Know Live Bitcoin’s supply is capped at 21 million. Forever. About 95% has already been mined. The cap has never moved, and the last whole coin arrives around the year 2140. 0 21,000,000 cap, fixed Mined to date 20.04M Of the 21M cap 95.4% Left to mine ~956,500 Last bitcoin ~2140 Computed from... - [What Is a Satoshi? Bitcoin's Native Unit of Account](https://allroadsbitcoin.com/infographic/what-is-a-satoshi-infographic/) - [Bitcoin Merchant Adoption: Who Accepts It](https://allroadsbitcoin.com/infographic/bitcoin-merchant-adoption-infographic/) - [Is Bitcoin User Friendly? What It Actually Takes](https://allroadsbitcoin.com/infographic/is-bitcoin-user-friendly-infographic/) - [Bitcoin Ponzi Scheme? The Definition Test | AllRoadsBitcoin](https://allroadsbitcoin.com/infographic/bitcoin-is-not-a-ponzi-scheme-infographic/) - [Bitcoin Myths #16 Infographic — Do Miners Control Bitcoin?](https://allroadsbitcoin.com/infographic/bitcoin-miners-do-not-control-the-network-infographic/): Myth #16 · Bitcoin Is Centralized by Miners | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #16 of 20 The Myth Bitcoin is centralized by miners. Reality check Mining 80% of Bitcoin could not change one rule. In 2017, miners controlling more than 80% of Bitcoin’s hash rate signed an agreement to force a protocol change.... - [Did You Know? Bitcoin Has Recovered From Every Major Crash Unlike Actual Bubbles (Infographic)](https://allroadsbitcoin.com/infographic/bitcoin-myths-15-greater-fool-game/): Myth #15 · Bitcoin Is a Greater Fool Game | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #15 of 20 The Myth Bitcoin is a greater fool game. Reality check Greater fool games collapse and stay down. The greater fool theory requires an asset with no underlying utility. When the chain of buyers runs out, the... - [Did You Know? Bitcoin Intrinsic Value Uses the Wrong Framework [Infographic]](https://allroadsbitcoin.com/infographic/did-you-know-bitcoin-intrinsic-value-wrong-framework-infographic/): Myth #14 · Bitcoin Has No Intrinsic Value | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #14 of 20 The Myth Bitcoin has no intrinsic value. Reality check Bitcoin fails the test.So do gold and the dollar. The “no intrinsic value” objection borrows a stock valuation model designed for productive assets. Applied consistently, that same model... - [Gold vs Bitcoin Infographic](https://allroadsbitcoin.com/infographic/bitcoin-myths-13-gold-superior-to-bitcoin/): Myth #13 · Gold vs Bitcoin | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #13 of 20 The Myth Gold is superior to Bitcoin. Reality check Gold set the standard. Bitcoin fixed the flaw. Gold earned its monetary reputation over 5,000 years. Bitcoin inherited those properties and removed the one vulnerability gold could never solve. The... - [Did You Know? Bitcoin Has No Reset Button [Infographic]](https://allroadsbitcoin.com/infographic/bitcoin-myths-12-redistribution-reset/): Bitcoin Has No Reset Button [Infographic] | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #12 of 20 The Myth Bitcoin should be redistributed or reset. Reality check No administrator.No reset button. A bitcoin reset is not possible under its current consensus structure. Its rules are enforced by code and by tens of thousands of independent participants... - [Your Bitcoin Is Yours on an Exchange: Infographic](https://allroadsbitcoin.com/infographic/bitcoin-myths-11-exchange-custody/): Myth #11 · Your Bitcoin Is Yours on an Exchange | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #11 of 20 The Myth Your bitcoin is yours on an exchange. Reality check A balance is not bitcoin.Keys are. When you leave bitcoin on an exchange, the exchange holds the private keys. You hold a balance in... - [Bitcoin Myths #10 Infographic: A Wallet Is a Key, Not a Vault](https://allroadsbitcoin.com/infographic/bitcoin-myths-10-wallet-keys-ledger/): Myth #10 · Bitcoin Physically Resides in Your Wallet | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #10 of 20 The Myth Bitcoin physically resides in your wallet. Reality check A wallet is a key.Not a vault. Bitcoin does not reside in any wallet, phone, or hardware device. It exists as a record on the Bitcoin... - [Did You Know? No Government Has Successfully Banned Bitcoin [Infographic]](https://allroadsbitcoin.com/infographic/did-you-know-bitcoin-government-ban-infographic/): ₿ AllRoadsBitcoin Bitcoin Myths · #5 of 20 The Myth “Governments can ban Bitcoin.” Reality check The network has no off switch. Governments can restrict exchanges and block fiat on-ramps. What they cannot do is shut down the Bitcoin protocol. China held an estimated 65% of global hash rate when it banned Bitcoin mining in... - [Did You Know? Bitcoin Crashes Always Recover — Infographic](https://allroadsbitcoin.com/infographic/did-you-know-bitcoin-crash-recovery-infographic/): Did You Know? Bitcoin Has Crashed Four Times and Recovered Every Time | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #4 of 20 The Myth Bitcoin is just a speculative bubble. Reality check Bitcoin has crashed four times. It has never stayed down. Speculative bubbles collapse and stay collapsed. Tulip mania, the Mississippi Company, dot-com stocks,... - [Did You Know? Bitcoin's Crime Rate Is 0.15%](https://allroadsbitcoin.com/infographic/did-you-know-bitcoin-crime-rate-infographic/): Myth #3 · Bitcoin Crime Rate | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #3 of 20 The Myth Bitcoin is only used by criminals. Reality check The ledger is public. The bitcoin crime rate is 0.15%. More than 99.8% of Bitcoin transactions are completely legal. The traditional financial system launders an estimated 2 to 5... - [Did You Know?](https://allroadsbitcoin.com/did-you-know-articles/): Short, shareable reads on Bitcoin: one surprising fact, clearly explained. Each article pairs with a full deep-dive in the Bitcoin Myths series. B Bitcoin Myths · #1 of 20 Did You Know? Bitcoin runs on less energy than the global banking system. Myths #1 · Energy Bitcoin Uses Less Energy Than the Global Banking System... - [Did You Know? Bitcoin's Volatility Has Fallen Every Market Cycle](https://allroadsbitcoin.com/infographic/bitcoin-volatility-declining/): Myth #2 · Bitcoin Volatility | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #2 of 20 The Myth Bitcoin is too volatile to be useful. Reality check Bitcoin gets less volatile every cycle. Annualized Bitcoin volatility peaked at roughly 140% in 2011. It has declined in every market cycle since. Today it sits at approximately 50%.... - [Bitcoin Energy Banking: The Infographic Critics Miss](https://allroadsbitcoin.com/infographic/did-you-know-bitcoin-energy-banking-infographic/): Myth #1 · Bitcoin Energy Use | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #1 of 20 The Myth Bitcoin uses too much energy. Reality check Bitcoin runs on less energy than banking. The global banking system uses 263 TWh a year, Bitcoin uses 138, and gold mining uses 240. The question was never how much... - [Did You Know? Altcoins and Bitcoin Are Built for Different Jobs](https://allroadsbitcoin.com/infographic/did-you-know-altcoins-bitcoin-different-jobs-infographic/): Myth #8 · Altcoins Are Better Than Bitcoin | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #8 of 20 The Myth Altcoins are better than Bitcoin. Reality check Better at what? They are not built for the same job. Bitcoin was built to be money no one controls, with a fixed supply, no foundation, and no... - [Altcoins vs Bitcoin: They Are Not Competing for the Same Job](https://allroadsbitcoin.com/infographic/did-you-know-bitcoin-physical-infrastructure-infographic/): Myth #7 · Bitcoin Has No Physical Form | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #7 of 20 The Myth Bitcoin has no physical form. Reality check The ledger is digital. The infrastructure is not. Bitcoin runs on over 21,000 computers across 181 countries, warehouses of ASIC mining hardware consuming auditable electrical energy, and more... - [Did You Know? Real Estate Got Its Value from Broken Money — Infographic](https://allroadsbitcoin.com/infographic/did-you-know-real-estate-broken-money-infographic/): Myth #9 · Real Estate vs Bitcoin | AllRoadsBitcoin ₿ AllRoadsBitcoin Bitcoin Myths · #9 of 20 The Myth Real estate is a better store of value than Bitcoin. Reality check Real estate stores value. Bitcoin was built to. Home prices rose 17× since 1971 while wages rose 6×. That gap isn’t supply and demand,... - [Bitcoin Infographics](https://allroadsbitcoin.com/infographic/): Visual one-pagers for every Bitcoin myth. Good for scanning, good for sharing. Each infographic pairs with a full article in the Bitcoin Myths series. B Bitcoin Myths · #1 of 20 The Myth Bitcoin uses too much energy. Reality Check Bitcoin runs on less energy than banking. Myths #1 Bitcoin Uses Too Much Energy View... - [You Don't Have to Buy a Whole Bitcoin — Infographic](https://allroadsbitcoin.com/infographic/you-dont-have-to-buy-a-whole-bitcoin-infographic/): ₿ AllRoadsBitcoin Bitcoin Myths · #6 of 20 The Myth You have to buy a whole Bitcoin. Reality check Bitcoin splits into 100 million pieces. One Bitcoin is divisible to eight decimal places. The smallest unit, one satoshi, is 0.00000001 BTC. 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