What is the stupidest misconception you had about cryptocurrency?

Inspired by a post I saw earlier, where somebody asked what simple things you still don’t understand about crypto.

So, before you started actually looking into crypto, back when you knew of Bitcoin etc. but had never looked much further into it than that, what stupid misconceptions did you have?

I’ll go first.

The first time I looked at crypto related subreddits and saw somebody talking about ‘use cases’, I was totally confused. No idea what they were talking about.

Up until that point I had assumed that the purpose of all crypto was just to be money that you could use to buy things, but that nobody was really interested in using it to buy things because it was so volatile.

I thought each crypto currency was essentially identical, and you basically just picked your favourite one like you might do with a sports team. I thought that ‘fans’ of each coin were really weird for having an affiliation to one of the many identical types of make believe money.

I had no idea that they were all individual projects with full development teams behind them, striving to fulfil a unique purpose and solve unique problems.

I also probably thought way more stupid stuff, but this is the one I find interesting.

Tell me yours. No judgement, unless you’re an idiot.