FAQs

FUD FAQs for Bitcoin. Fear, Uncertainty, and Doubt and Frequently Asked Questions for Bitcoin. This FAQ is designed to provide simple understandable and accurate answers to frequently asked questions and to assist Bitcoin supporters in defending Bitcoin against FUD attacks. This service is intended to be community-driven. If you have new questions or better answers please post them in the comments.

Bitcoin is too expensive!

The total number of bitcoins is forever limited to 21 million. There are ~45 million millionaires in the world. If half of them bought 1 Bitcoin, anyone owning 1 bitcoin would be a millionaire.

Bitcoins are divisible into 100,000,000 units called Satoshis, which is the unit most often used by the Lightning Network. A common Bitcoin investment phrase is “Stacking Sats“.

Source: Wikipedia

Is Bitcoin a currency?

Bitcoin is on its way to becoming a viable day-to-day currency with the rollout of the Lightning Network.

What is the Lightning Network?

The Lightning Network is a second layer of computers that run on top of the Bitcoin network. It provides nearly instantaneous and nearly free bitcoin transactions. It is still under rapid development and in the early stages of deployment.

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