# Explains: The 3 Biggest Bitcoin Myths

Page: https://stenobird.com/podcast/bitcoin-well-podcast-7678220/explains-the-3-biggest-bitcoin-myths
Text version: https://stenobird.com/podcast/bitcoin-well-podcast-7678220/explains-the-3-biggest-bitcoin-myths.md
Podcast: [Bitcoin Well Podcast](https://stenobird.com/podcast/bitcoin-well-podcast-7678220)
Published: 2026-03-17T11:00:00+00:00
Episode link: https://feeds.fountain.fm/K4fNsugsQSuLZj6Ag7Oj/items/gFgfuJWrjXDqaXcPuT5k/files/AUDIO---DEFAULT---4e8f2814-b5d7-4ab4-8949-6f8b0ce3203e.mp3
Audio file: https://feeds.fountain.fm/K4fNsugsQSuLZj6Ag7Oj/items/gFgfuJWrjXDqaXcPuT5k/files/AUDIO---DEFAULT---4e8f2814-b5d7-4ab4-8949-6f8b0ce3203e.mp3
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JSON: https://stenobird.com/v1/public/podcasts/bitcoin-well-podcast-7678220/episodes/explains-the-3-biggest-bitcoin-myths
Duration seconds: 985

## Resource

Send us Fan Mail Bitcoin Well Explains: The 3 Biggest Bitcoin Myths Most people's first exposure to Bitcoin was a headline. Bitcoin crashes. Bitcoin used by criminals. Bitcoin is a Ponzi scheme. And if that's all you've seen, skepticism is a rational response. But before you write it off, let's make sure you're working from accurate information — not recycled talking points. In this video we break down the three biggest myths that keep people from taking Bitcoin seriously: Myth 1 — Bitcoin isn't backed by anything (spoiler: neither is the dollar, and hasn't been since 1971) Myth 2 — Bitcoin gets hacked all the time (the protocol has never been successfully attacked — not once since January 2009) Myth 3 — Bitcoin is just a fad or a Ponzi scheme (there's a fundamental difference between a fad and a protocol — and Bitcoin is infrastructure) We're not here to convince you of anything. Just to make sure the information you're working with is accurate. 📩 z.addair@bitcoinwell.com Chapters: 00:00 Intro & Week in Bitcoin 01:58 The Headlines That Shape What You Think About Bitcoin 03:47 Myth 1: Bitcoin Isn't Backed by Anything 04:18 What Is Your Money Actually Backed By? 05:48 What Happened in 1971 06:45 What Actually Backs Bitcoin 08:03 Myth 2: Bitcoin Gets Hacked All the Time 08:55 What Those Headlines Are Actually About 09:49 How Secure Is Bitcoin Really? 0:44 Myth 3: Bitcoin Is Just a Fad or a Scam 11:37 The Difference Between a Fad and a Protocol 12:30 Bitcoin Is Infrastructure 13:15 The Numbers Don't Lie 13:35 The Lindy Effect 14:00 Why These Myths Keep Spreading 15:21 The Real Summary 15:57 Which Myth Did You Believe the Longest? RESOURCES & LINKS: 🚀 Buy Bitcoin/Freedom: https://bitcoinwell.com 📧 Join the Mission (Newsletter): https://bitcoinwell.com/newsletter 📊 Take the…

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