Topic: Bitcoin isn't complicated but the fiat system is! - page 3. (Read 629 times)
The problem with fiat all started when government and banks became too greedy and went on printing too much fiat, causing it to have less worth due to excess supply. Money is meant to be scares as if there's supplus, it becomes a problem for the economy of a country. How? A single man can decide to keep so much of their fiat locked up somewhere and try manipulating the whole economic system. Every common man from his child hood to becoming an adult had a single currency and some countries tries to teach them the history of their fiat in basic school. Still they can't fully understand the mystery behind fiat system and why it continues being a bit complicated. Bitcoin is new but still we can't compare it to fiat. The idea about decentralization has made Bitcoin stand out from all other currencies out there as no one, not even the government can control the system making it have less complications from confused leaders who try to manipulate the market system thereby causing fiat to drift alongside them.
What did we even know about Bitcoin when we first heard of it? almost nothing until we get curious about it and start learning about its technology and ecosystem. And if both are complicated, do we even need to know how fiat's are made and where they have been made from? no. And that's the same goes for Bitcoin, a user, a holder, or an investor doesn't need to know all of its technicalities because they really are going to be complicated if you're not fond and knowledgeable about it. The basic matters don't have to be complicated at all and it is not requiring a lot of knowledge to be understood. What is important is the value that they have and what it brings to the person who has it. Like for that fiat lover, he'll never understand the importance of bitcoin and it's his own choice to make it look like complicated on his own mind because that's what he's believing and chose to stick with.
Yea, choice is individual decision, so no matter how we try to convince someone once he doesn't Believe in what you are saying there is absolutely nothing you can do about such situations, to individuals who choose fiat over Bitcoin, they feel that Bitcoin is a complicated innovation as the op said the same is applicable to bitcoiners, this is just understanding difference, every Bitcoin enthusiast, more expecially people that has been in the system for a while understands that Bitcoin is a valuable asset that requires a longterm mindset to achieve from the investment but for a novice that has chosen fiat instead of Bitcoin unless he see some evidential proves of what you have achieved so far with Bitcoin, there is nothing you will tell such person that will make him or her to belive that Bitcoin is a good investment unless such individual wants to try the investment based on his interest.
In the aspect of technicalities, I don't think is must for everyone to be involved in that as you said, in whatever investment we choose, the first thing to learn is how things are been done after that, we are good to go may be we can acquire more knowledge when we are fully involved in the said investment.
That is basically an infographic putting together everything that is connected to the fiat system, and we can't deny the fact that the system has been around for hundreds and thousands of years, it just kept changing and developing, so I think it's fair to say that it has a lot of connections all around the world and we aren't supposed to put them all in an infographic and say how complex the system is because every system in the world would look like this if we keep connecting chains.
The complexities people usually talk about are the storage and use cases of both Bitcoin and fiat, and what they want to say is that using or keeping fiat currencies is easy because you simply put them either in a bank or at your home, and these things are learned as you grow up, but when it comes to Bitcoin, the process is undoubtedly a bit complex because a normal, non-technical person cannot understand it easily.
The complexities people usually talk about are the storage and use cases of both Bitcoin and fiat, and what they want to say is that using or keeping fiat currencies is easy because you simply put them either in a bank or at your home, and these things are learned as you grow up, but when it comes to Bitcoin, the process is undoubtedly a bit complex because a normal, non-technical person cannot understand it easily.
In my opinion, the fiat system has many complications that ordinary people do not know about. We have only used the fiat system since we were born and most of us don't know about this system and how they control it. But Bitcoin is a new payment system and people are curious about it, and I believe that in the coming years, the blockchain and bitcoin system will destroy the fiat system.
Bitcoin technology is new, so it will remain complicated for people until they become familiar with it. I have used Fiat all my life and don't know how the system works. I just assume that the government gives orders to the printing and minting companies of my country for them to print a certain amount of notes. The money is moved to the central bank where it is distributed to commercial banks. And that's just the layman's perception about fiat.
Now people think fiat is less complicated because you don't need to check the mempool to see how much you will pay for transaction fees. You also need to check the price of Bitcoin to ascertain how much you will get if you buy or sell. You also need a phone or internet connection to carry out a transaction and there are also concerns about the safety of a wallet. One also needs some level of education to use a Bitcoin wallet because you need the ability to read and understand some details. They assume that if you have physical fiat, you can just easily buy all you want without much restrictions.
In my opinion, the fiat system has many complications that ordinary people do not know about. We have only used the fiat system since we were born and most of us don't know about this system and how they control it. But Bitcoin is a new payment system and people are curious about it, and I believe that in the coming years, the blockchain and bitcoin system will destroy the fiat system.
A common man is born into the fiat system and is taught by his parents, friends and colleagues how to use it.
Taken out of context?
But I will also argue that until we know something better and more detailed about the subject, everything will seem complicated to us. Now is the time when new technologies are changing the world; only the adult and elderly generations will have difficulty understanding. All those who know how to understand the Internet a little better than using social networks, master Bitcoin, use its wallets, and understand the importance of their seed phrase will be able to master it very quickly. Remember the importance of your PIN codes? Did people need to explain for a long time the importance of not disclosing them?
I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method 
Because of the habit of using fiat and people think the bitcoin system is complicated, we were born from an environment of people who use fiat so it is natural for people to say the process is complicated. But what needs to be underlined is that nothing is complicated if people want to learn and they can learn to understand. The growing technological journey will make it easier for people to understand the bitcoin system and now there are many people who know technology so that it can help understand the bitcoin journey system.Technology used to be very limited and only a few people had access to the internet but now we can see bitcoin adoption becoming more widespread. This is due to easy access, the internet and increasingly developing technology. The point is that every new thing needs to be learned and nothing is difficult when people want to learn to understand.
Why Average Joe need to understand fiat system? 
Most people don't care how fiat system works, what they care is how to earn as much as they can and knowing the charge or penalty when they saves their money in banks.
Unlike Bitcoin, there are so many traps, either you downloaded fake wallet or custodial exchange, you might invest in fake Bitcoin (Bitcoin in centralized network), you might get scammed for not knowing "confirmation" is very important since they could double spend the transactions etc.
Most people don't care how fiat system works, what they care is how to earn as much as they can and knowing the charge or penalty when they saves their money in banks.
Unlike Bitcoin, there are so many traps, either you downloaded fake wallet or custodial exchange, you might invest in fake Bitcoin (Bitcoin in centralized network), you might get scammed for not knowing "confirmation" is very important since they could double spend the transactions etc.
...
It is just some people's excuse to say that bitcoin is complicated and this people are either too lazy to learn about bitcoin or have the opinion from other people. if bitcoin is legal and it is something that everyone born is introduced to as a normal thing, people will actually learn about it and not complain about any form of complication. The reason why people still complain about complication is that, bitcoin is not yet accepted and the resources that make this information less complicated are not available to everyone. 
I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method
First, that's not how the dollar works, that's how the entire US economy works, you think that if we change from USD to BTC pension funds or insurance or lenders or the SEC/CFTC would disappear? Why would hey?
Second, the average Joe doesn't give a rat's ass about all that, he knows the gets his wage on a card, he knows he can check his balance at any time and see how much he has in $, and he knows he can swipe it at any pos and pay in a second! On the other hand, just go to the beginners and help section here and see how many people are in trouble because they don't know how to select a fee or know the difference between byte and vbyte or their transactions are stuck and they don't know how to fix it!
And you can see the results for yourself, how many people use Bitcoin, and how many a cc card?
Let's not lie to ourselves just because we ant something to succeed!
Economist Saifedean Ammous, who wrote the book "Bitcoin Standard," which explains the deeper economic and technical aspects of Bitcoin, has also written "Fiat Standard," where he explains the fiat system. I believe these two books are essential reading for anyone who wants to understand Bitcoin and how the fiat system works.
What did we even know about Bitcoin when we first heard of it? almost nothing until we get curious about it and start learning about its technology and ecosystem. And if both are complicated, do we even need to know how fiat's are made and where they have been made from? no. And that's the same goes for Bitcoin, a user, a holder, or an investor doesn't need to know all of its technicalities because they really are going to be complicated if you're not fond and knowledgeable about it. The basic matters don't have to be complicated at all and it is not requiring a lot of knowledge to be understood. What is important is the value that they have and what it brings to the person who has it. Like for that fiat lover, he'll never understand the importance of bitcoin and it's his own choice to make it look like complicated on his own mind because that's what he's believing and chose to stick with.
A common man is born into the fiat system and is taught by his parents, friends and colleagues how to use it.
Exactly his point, to even buttress what he said, there is no point in know some of the technicals of the bitcoin network if you just want to be mere user and not something like a developer or even node user. All you need is understanding the concept of how to set up your wallets properly, how to send your funds properly; knowing the required amount of fees to pay, when to bump your transaction and other little details, which are what the fiat currency also does. Things like how can you get to have collision with seed phrase are not that so necessary.
I only see people bring about the complexity of bitcoin technology as a whole propaganda to either shy away from using it or spread FUD and nothing more
I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method
Uhmm.. The Bitcoin and Fiat systems are both complicated; what makes people complain about the protocols in bitcoin is that they had to learn about the new system. Secondly, the decentralization makes everything under your own control.The thing is, people don't need to know about the protocols in bitcoin just as most people don't need to know how a CPU, storage (HDD, SSD etc) or memory work. They don't need to know about TCP/IP, SMTP, DNS, HTTPS, NTP or other internals of the internet work. The protocols are/will be abstracted away with wallets, ETFs, exchanges and the like over time.
I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method
Uhmm.. The Bitcoin and Fiat systems are both complicated; what makes people complain about the protocols in bitcoin is that they had to learn about the new system. Secondly, the decentralization makes everything under your own control...in a broader sense, you're entitled to perform every action that the banking systems and third party does, which makes it more complicated. Just imagine a situation where you made a transaction with a lower fees and it got stuck for sometime; you'd have to manually pump the fees ... That's gonna force you into learning how to RBF or CPFP. Meanwhile in the Fiat systems, all you gotta do is visit your bank branch and the customer care would do the rest.
Edit:
The protocols are/will be abstracted away with wallets, ETFs, exchanges and the like over time.
It's actually good to learn things the hard way atimes. 
There's no complications in bitcoin except those that have found it difficult to comprehend on learning new things, there's nothing heard from understanding what bitcoin is and how we can as well join from the way we see it, bitcoin is what others should see as the simplest thing to do because it will be the tyoe that can help change someone's story for good and not to use it as money, but through it, we can comfortably discover the way bitcoin is meant for others, fiat system is more complicated because it's being controlled by central
Looking at the diagram, fiat system is really complicated but one don't have to understand that to spend fiat. While Bitcoin system might be a little less complicated, many people are still baffled at how to create a single transaction with it.
Spending fiat is not as complicated as sending Bitcoin. A person can transact with fiat currency with cash and outright hand over the money to the seller without waiting for the validation and confirmation of the transaction. While a person who wants to use Bitcoin for a transaction needs a gadget, and application for the transaction and needs to wait around 10 minutes for the transaction to be confirmed if the deal is done through P2P.
With that many see paying with Bitcoin as way more complicated than just handing over cash to seal the transaction. Since fiat currency can be spend anywhere, it is way more convenient and simple for a person to spend it than BTC.
Spending fiat is not as complicated as sending Bitcoin. A person can transact with fiat currency with cash and outright hand over the money to the seller without waiting for the validation and confirmation of the transaction. While a person who wants to use Bitcoin for a transaction needs a gadget, and application for the transaction and needs to wait around 10 minutes for the transaction to be confirmed if the deal is done through P2P.
With that many see paying with Bitcoin as way more complicated than just handing over cash to seal the transaction. Since fiat currency can be spend anywhere, it is way more convenient and simple for a person to spend it than BTC.
I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method
I have always tell people that what I have learned and understand about Bitcoin under 2 years, I don't understand what the fiat system has thought us, they will keep making the system difficult for everyone yet the fiat is harder and harder. It's under fiat they will tell you this one is bond, this one is treasury bill and the other ones are financial instruments and what all of them are saying is fiat money and nothing more, even your image is nothing but the same fiat, it's their complexity about money that brought us to high inflation they fight every year.
Where as Bitcoin doesn't have to deal with all these processes, even on the network aspect, it's just sending from the sender to receiver, the only little complication in it is the nodes and miners that does the validation and comfirmation of the transactions but fiat protocols is like going to a world War where you don't understand anything but you just fight for survival.
A common man is born into the fiat system and is taught by his parents, friends and colleagues how to use it.
While I was scrolling Reddit one post caught my eyes
Bitcoin is too complicated" ~US Dollar user
*you may have to download and zoom in to get in details
I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method
Bitcoin is too complicated" ~US Dollar user
*you may have to download and zoom in to get in details
I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method
For users who aren't good to trace illustrated diagrams, I think it'd still be technical for them to understand this and get conveniently convinced.
Let's don't do justice by the display this diagram because nomatter how you try to simplify the complexity of bitcoin, it will still be complicated to some person's atleast considering the fact that it could be a digital currency and also serves as assets on decentralized blockchains which isn't supported by the government. Besides bitcoin is still a new technology even though it has existed for about 15 years now.
If we must be realistic, individual learning capacities differs and so, there're also people who suffers on technical factors which bitcoin is evolved with technicalities.
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