Bitcoin, the best known cryptocurrency, has made millionaires and billionaires worldwide.

Some say that it's a currency, immune from the problems that plague national currencies,

and some say it's all just a flash on the pan fad with no real value.

We're going to separate the fact from the fiction today and see how much of the fuss

is justified.

It's coming up next on Skeptoid.

You're listening to Skeptoid.

I'm Brian Dunning from Skeptoid.com.

Bitcoin, Fact, and Fiction.

Some people are agnostic about Bitcoin.

Some people are passionate advocates and a few are fanatically against it.

It is the world's most significant cryptocurrency.

Some money that exists nowhere and everywhere, controlled by no government or central bank.

It can be sent received and held with perfect anonymity.

It can arguably be described as digital gold, an asset that hedges against all the world's

monetary influences.

It is also subject to all manner of emotional reactions.

It provokes fear and confusion in some who don't understand it.

Today, we're going to break down some of its basics and explore the common facts and

fiction surrounding Bitcoin.

We'll begin with a brief simplified overview of Bitcoin for those who need it.

Take gold as an example of a currency system.

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