Quote from: BTCforJoe on March 01, 2018, 01:01:15 AM

Disclaimer: Although not all newbie questions are based on fud, a majority of them are. I wanted to consolidate a lot of these questions into one [managed/self-moderated] thread to help you arm yourselves with answers to the most common questions that non-bitcoiners have regarding the cryptocurrency.

Quote

FUD | noun
Pronunciation: /fəd/

Fear, uncertainty and doubt (often shortened to FUD) is a disinformation strategy used in sales, marketing, public relations, talk radio, politics, religious organizations, and propaganda. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear.

Source: Wikipedia

Questions like "Is Bitcoin illegal?", "Is Bitcoin a scam or a Ponzi scheme?" and "Why is Bitcoin so expensive?" are common amongst people (usually friends, family, and coworkers) who have no experience with Bitcoin. These questions are usually negative in nature, mainly due to the position that mainstream media puts Bitcoin (and other alternative cryptocurrencies) into. Rather than do their own research about Bitcoin, these people tend to listen to the fud and deter themselves from learning more about it.

You'll often hear them say things like "I've heard about Bitcoin a long time ago, but I never got into it" or "Don't hackers use Bitcoin to demand ransoms?" or some other fud-fueled question.

Let's all do our parts to help educate them in simple terms. This topic will provide you answers with (hopefully) all of the questions that you receive by people who have no idea what it is. Here's how it will work:

Answer a question (or as many as you like) from the list in the next post below. Give me your best answer, and if it helps the overall greater good of Bitcoin, your answer will be quoted into the answerⁱ in the Questions section, and you will be awarded with a meritⁱⁱ.
Keep it simple. Try to keep the answers non-technical. People that don't care about Bitcoin tend not to want to because they don't understand it. Why? More than likely because it's all just "computer speak" to them.
Ask a question. Do you commonly get asked the same thing (that isn't covered below)? Post your question, and whoever has the best answer (including yourself, if you choose to answer the question) will be awarded a merit, and their answer will be added to the listⁱⁱ.
Do not shitpost. One-sentence answers (very few exceptions will be made) will be purged, as to help eliminate spam (and obvious sigspam). Yes, I will delete your post if it's obvious that you're shitposting solely to increase your post count for your signature campaign.

Remember, these questions are for complete Bitcoin newbies or people who have no idea what Bitcoin is. Please try and avoid submitting technical or more knowledgable questions like "What is the genesis block?" or "Who is Satoshi Nakamoto?". Let's focus on helping our friends and family get their feet wet first and then change their overall negative perspective about Bitcoin first.

ⁱWhether your answer gets added will be under my sole discretion. If you don't agree with me, start your own thread. | ⁱⁱMerits will be distributed until I run out of sMerit to award.

When bitcoin was introduced in 2009 there were lots of questions coming in the minds of millions of people that what are these crypto currencies and how do they work, what is the technology behind it and how beneficial is in investing into these crypto currencies then with time people has understood the fate and potential of bitcoin and now still it is still in lots of controversy but I am sure for one thing very well that in future, bitcoin is going to get legalised all over the world.