Topic: Do you think the use of Bitcoin is kind of complicate? - page 6. (Read 5547 times)

I'm curious, what do you think is simple about it? I suppose once you take away the technology behind it, it can appear simple.

It's not complex or hard to understand. Coinbase and Circle are well designed. It is unquestionably a major hassle and giant turn off.

I can only imagine how many bog standard online sales fail because people can't be arsed to fill in their details. If they have to provide ID shit on top of that then perhaps BTC would be in the thousands if all those who gave up had persevered.

I do think that as we make it easier to use that it's possible we are also making it less secure and taking away features. I like full-featured clients.

Bitcoin might be complicated in terms of code, but using it is not that complicated. You see, as time passes by, sending and receiving a transaction has been easier and more noob-friendly. Even an average person could do sending/receiving without having a hard time, The complication that you are talking starts when you get yourself involve in setting up a node or other tasks that involves technical and in-depth knowledge on how bitcoin works. In using money, you don't need to know how it works completely, you just need to know how  to use it in transacting.

Bitcoin is very complicated, that's the reason why it's so secure. The easier to use we can make bitcoin, the more people will use it.

Yes, for not tech savvy people, bitcoin is a bit complicated to use. But I think there will be user friendly bitcoin wallets for people who aren't tech savvy and still want to use bitcoin.

I completely agree! But as a new technology as it is bitcoin is still being developed and everyday we see new app coming out trying to simplify the use of digital currencies. bitcoin is much more easy to use now than it was 5 years ago.

I think the only real issue is the block size debate due to the amount of transactions the network could take.  Right now, credit card companies can handle a lot more than Bitcoin.  The other elephant in the room is that the central banks can't regulate Bitcoin like they can their own currencies, as much as they appreciate the idea in theory because it would allow for negative interest rates which would be perfect for the current scenario where we have a zero interest rate environment and still have deflation (deleveraging.) 

One thing that struck me in that article was this comment...

"Speaking on behalf of Visa Europe Collab, Downing – who noted bitcoin volatility was currently a key issue –.."

Why would volatility be an issue?  You get bitcoin instantly and sell it instantly?  This is what market makers and traders are for.  If they have to can they not enter into futures contracts?  Seems to me like a non-issue.  Companies do business internationally all the time and carry exchange-rate risk, in very volatile zones.  Are we supposed to think Visa isn't doing business in countries that don't experience 50%+ inflation on and annual basis in some years? 

This article shows a slide suggesting blockchain is a trillion dollar industry in securities settlements and clearing.  It's a threat to mainstream finance, but obviously the future. They are embracing with caution.

I was going to write about the same thing. Credit cards are about as complicated as Bitcoin.

But Bitcoin is somehow on the obligation to simplify to offer a little more to users if it wants to attract users to himself. It has to have clear advantages over regular money for more people to use them.

GetGems app is already one of the easiest wallets, even a kid can use it. People don't know it yet.

I told a friend of mine about bitcoins and after a day or so, he already managed to create a simple transaction with manually inputted fee on it (0.0001). First, I explained to him how it works and what is bitcoin, then I sent him some coins to start with. The first question that he asked me is "How do I easily recognize this unintelligible strings of numbers and characters? How do I know what's mine and what is not?" I told him that the random strings of characters and numbers that he own are shown under the "receive" tab (he was using Electrum) and to be able to send some coins, he can click the "send" tab and input or paste another address that he intends to send the coins into. After he made his first transaction, I asked him what was the hardest part on using bitcoins. And his answer? "Remembering and differentiating my address from another address."

Most people don't have that good memory. 

The stumbling block for many people are the on/off ramps to bitcoin. Wallets themselves are pretty easy, and many enforce a kind of security already. Getting bitcoin is not so easy for everyone.

Bitcoin payment system is easier to understand if we were familiar with online banking systems like paypal. But the technology behind bitcoins must be so hard to understand if we are not computer geeks.

Bitcoin is just like new technology. We have got familiar like phones or email. First everything looks complicated, by practice we can use any new technology very easy. Google for how to use kind of videos, it will teach you to get familiar with.

I am a computer technician so i dont think that it is that much complicated...

Its actually lot more friendlier compared to back then,but again i never had any problem with my wallet before so i didn't really understand the techinal stuff , but if i need one i can just ask on here

Anyone knows how to open a bank account? Well when you create a Bitcoin wallet on one of these online wallet providers, it's like registering on any other site. If you cannot do that, you should not be on the internet. I use online banking and Bitcoin is much easier than that for me.

To register for online banking, I first had to visit the bank and link all my accounts manually. They then have to authenticate you, so that you adhere to all of the KYC/AML rules and regulations.

The same principle apply when you register at Circle or Coindesk or BitPay or Blockchain.info etc. etc. 

Some people can adopt easily if he/she passes through base on your experience to make someone understand that Bitcoin isn't really hard.

There are new users everyday in the learning phase will be extremely reluctant to experiment which is of course very helpful way to learn. IMO, people becoming paralyzed, afraid they will lose coins by accident and ultimately out of fear and frustration, to give up easily.

I do not find any difficulty in using bitcoin payment system. Because I had hands on experience with paypal, alertpay kind of online payment processors. Because I had worked with PTC/GPT sites.