DeCrypting Crypto

What is going on Down Under?

There is a new survey by Finder in Australia that suggests that 56% of Australians think that Elon Musk invented the cryptocurrency.

Finder set about trying to see what myths were most popular in Oz and they came up with a few answers from the people they surveyed.

31% believed a myth that Bitcoin cannot be used to make purchases. Finder pointed out that there are “thousands of businesses” across Australia that accept crypto as a payment method. This lead onto 44% thought the supply of Bitcoin is unlimited and 39% agreed that there were only 100 cryptocurrencies currently in existence. 44% also thought that BTC has been around for 15 years.

Okay these and many other myths are easily spread, so that is why it is always important to know your subject and you are also not believing in something created from myth.

For clarity – Bitcoin was invented by an anonymous developer under the alias Satoshi Nakamoto. There are thousands of businesses across Australia that accept Bitcoin as a form of payment. Because of the way its code is designed, Bitcoin is limited to a maximum supply of 21 million. There are more than 4,000 cryptocurrencies in circulation and the number is growing. Bitcoin came into existence in 2009.

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