Topic: BTC currency unit is too complicated to accepted widely. - page 2. (Read 601 times)
Many governments around the world are afraid that it will threaten the interests of the government and they are very negative about bitcoin, so in those countries it is unacceptable.
There's a bit of truth to the above headline, for instance in developing countries where many people lack basic education, majority will find it very difficult to grasp what bitcoin or crypto is actually about. Even among the educated, they are still some who find it difficult understanding bitcoin.
BTC is really too hard for someone without any tech knowledge, as well as for the old generation. I do hope there'll be further efforts to make btc simple and educate people so that btc could become more widespread.
In my opinion, it is not hard to setup a bitcoin wallet, and people could always start using bitcoin to make payment for goods and services straightaway once they have a bitcoin wallet, they would only need to purchase bitcoin from crypto-currencies exchanges first with fiat money, it might take some time to set up a bitcoin wallet but most traditional online payment processor also needs time to set up too. 
I notice when i explain "what is bitcoin and how bitcoin will become the huge payment system" to my wife(who didnt know anything about bitcoin). Then she states something that i want to share. Its from newbie in cryptos yet experienced in bank economic.
Do you think bitcoin wont be accepted with so many zeros in BTC or satoshi unit? For the price to be used in daily payment. BTC is so complicated to understand widely. Think this with a point of very low degree of education.
I think we need to invent something more stupid-free in btc currency unit.
Kindly share your thoughts. 😊
Do you think bitcoin wont be accepted with so many zeros in BTC or satoshi unit? For the price to be used in daily payment. BTC is so complicated to understand widely. Think this with a point of very low degree of education.
I think we need to invent something more stupid-free in btc currency unit.
Kindly share your thoughts. 😊
What complicated ?
I understand the way how to trade bitcoins right after i read one guide from one websites.
So i think, for millenials , it's really easy to use it and the many zeros was not a problem at all
BTC is really too hard for someone without any tech knowledge, as well as for the old generation. I do hope there'll be further efforts to make btc simple and educate people so that btc could become more widespread.
I think at this point, as the Cryptocurrency is growing vigorously, we have enough intelligence to understand some of the bitcoin's essence. Politicians have also taken Bitcoin into their legal forms of payment and sale. We still have to accept bitcoin as a currency of the world.
I don't think bitcoin can be really hard to understand, it is about giving out the proper education. I believe knowledge is an essential aspect of all endeavours of life, without adequate knowledge people will find it very difficult to venture into any enterprise and the same applies here to world of crypto. 
We will eventually use satoshis. Some people still don't understand that Bitcoin is dividable up to 8 decimal places and this understatement discouraged them from investing in Bitcoin. Nobody has mentioned that the Lightning Network operates on numbers much lower than 1 satoshi and still many are interested in using it thanks to much lower fees and instant payments. Our current financial system is also complex and I am quite sure that hardly anyone knows how it works. Even basic terms such as inflation and deflation are not known to ordinary people.
Yes, for use in the masses definitely need a more simplified system. On the other, just nothing) Otherwise, people will not be able to figure it out. There will be a new terminology and slang))) But still, people will get used to everything quietly as always)))
I think it's not too complicated. We know that the price for each bitcoin is very expensive. We need smaller units to help make the bar easier. I think many people will find it complicated but when things get familiar with the support tools will make the payment easy. Bitcoin units will become easy to understand.
Why are you saying it's complicated. It is not. The old economists are trying to refuse to accept basef on certain fundamentals they believe won't work. But well, some economists have also given positive review about this so we are waiting for what the future will bring.
Using the Bitcoins currency unit as the only complicated factor is not right. Bitcoins technology and mining on the network is what must be consider as complicated. By gradual process and education, Bitcoins will become a world payment system that will be used in every corner of the world.
I agree partly with your assertion and I think this is more reason why bitcoin education should be introduced in our colleges.
It will go a long way in creating awareness and getting the public accustomed to the basics of bitcoin.
It will go a long way in creating awareness and getting the public accustomed to the basics of bitcoin.
I think this is just a matter of adaptation of a new type of currency, bitcoin. maybe at first everyone who is new to bitcoin will find it very difficult to understand how bitcoin works in financial terms because it is a process of adaptation but I am sure that as time goes by everyone will understand by itself.
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I think at this point, as the Cryptocurrency is growing vigorously, we have enough intelligence to understand some of the bitcoin's essence. Politicians have also taken Bitcoin into their legal forms of payment and sale. We still have to accept bitcoin as a currency of the world.
I think bitcoin is really easy to use for a first timer, I have no problem with my family members doing bitcoin transactions. It's close to the fiat currency reading. Not really, it's not too complicated to use. While there is a lot of ignorance about the stock market or the origins of paper money. The point here is that Bitcoin is decentralized and anonymous, which can be exploited by bad guys for fraudulent purposes, money laundering, etc. Besides, Bitcoin prices are still low, so it's time to get used to it. The digits are not a problem. Including foreign exchange. It's just some people who do not want to understand it and do not care because of its hierarchical nature that is really perfect to make everything black and white honest. In my opinion, price volatility plays the biggest role here.
The decimals is not the big barrier to the bitcoin acceptance but people can use the other parts like micro bitcoins like that but when the system got adopted then they will get familiar with that so it is not going to be a big problem.
I notice when i explain "what is bitcoin and how bitcoin will become the huge payment system" to my wife(who didnt know anything about bitcoin). Then she states something that i want to share. Its from newbie in cryptos yet experienced in bank economic.
Do you think bitcoin wont be accepted with so many zeros in BTC or satoshi unit? For the price to be used in daily payment. BTC is so complicated to understand widely. Think this with a point of very low degree of education.
Do you think bitcoin wont be accepted with so many zeros in BTC or satoshi unit? For the price to be used in daily payment. BTC is so complicated to understand widely. Think this with a point of very low degree of education.
You have a point. However, you cite you one example and I think most of us can relate to this. When I was starting in my bitcoin journey, I was also confused, I also make a lot of mistakes. But as I explore more and understand how it works, I got the feel of it. What I'm trying to say is that it could be hard in the beginning, but as you familiarized with the terms and the 0's and satoshi's and 0.01BTC, its gonna be easy and its not complicated as others have been portraying it for years.
I think we need to invent something more stupid-free in btc currency unit.
Kindly share your thoughts. 😊
Kindly share your thoughts. 😊
Nope. Bitcoin is fine.
Yes, because if they accept bitcoin it will not complicated, i don't know why until not many countries not accepted to bitcoin, bitcoin gave us money for the some financial in our life and also gave extra income but government very difficult to understand what is a currency and what is the benefits of that to everyone.
Almost anything can seem complicated at the start but with perseverance and dedication
anything can be mastered. All people need to know is the value of 0.00000001 for example
And how a wallet works for sending and receiving payments.
And i guess that this is really much easy for them to understand. Nothing comes out of no hardwork and peoples really need to learn how bitcoins work and where the transactions take place. This is what is much vital in terms of bitcoins. anything can be mastered. All people need to know is the value of 0.00000001 for example
And how a wallet works for sending and receiving payments.
Sending and recieving bitcoins is also a way easy but understanding the transactions is a bit difficult and if a individual learns to manage it, he would surely also learn the amount of 1 satoshi and would never make any mistake. A single "0" can matter a lot in bitcoins and hope that everyone gets it cleared.
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