🧡 Blockchain is a difficult technology to understand
I think a lot of people get confused when it comes to defining blockchain. It's a new world, a totally unknown world compared to our daily lives, a "geek" world but that doesn't mean the technology is complicated. Everything is complicated when the subject is unknown, then by focusing relentlessly, by reading, by breaking down the different notions, the thing becomes simpler in our mind.
The knowledge is free, you can easily find online courses explaining this technology.
The real question is: do you want to be interested?
🤎 Bitcoin transactions are untraceable
This is one of the most common myths about transactions related to cryptocurrency and blockchain in general. It is linked to the time when it was understood that payment in cryptocurrencies was a windfall for criminals.
It was also at this time that we saw the explosion in the use of bitcoin in the dark web in particular. Silk Road for those who do not know was one of the first market places where you could sell and buy everything, such as drugs, firearms or even stolen bank cards.
People were paying in cryptocurrency because they (rightly) feared that the transactions would be identified by the FBI. They thought cryptocurrencies were untraceable.
It's a myth. EVERYTHING can be traced on the blockchain since the blockchain is a technology that allows information to be stored and transmitted transparently, securely and without a central control body (see my post on what is the blockchain?).
Many people who operated on Silk Road were still arrested. Major drug dealers have fallen even while transacting in Bitcoin.
💛 Stores will never accept currencies so why have them?
Very hollow.
There are visa or master bank cards working in collaboration with centralised exchanges like Binance or Coinbase for example. These bank cards ultimately look like your credit/debit card that you use in your daily life.
The difference is at the bank account level.
The one linked to the Binance bank card, for example, is linked to the different cryptocurrency wallets that you hold and when you want to pay in a store, you just have to convert your cryptocurrency into euro or dollar or federal currency that suits you (which lasts literally 3 seconds) in order to pay.
Châtaigne.
