Bitcoin may be difficult to understand if you are a Newbie in the Crypto world. Understanding Bitcoin requires one been ready to learn. Doing some research can also be of a great help in understanding what is Bitcoin and how it works, there are so many Youtube videos, articles about Bitcoin. It may be difficult as the beginning, but surely with time, one will definitely get to know more about it.
In my first time in cryptocurrency it was so hard to understand about bitcoin because of this I heard or read some negative about bitcoin that would be scam in no time. But when I started to enter in crypto world I realize is not a scam coin the one scam is the people using the name of bitcoin, Actually we all understand about bitcoin or all other coins in crypto if we experience those work we doing everyday in crypto currency just like trading, investing and participating some bounty campaign in bitcointalk. It was hard for us if we are new in crypto because we need to learn the way in cryptocurrency and encounter mistake that we need to be correctly in the future. 
Topic: Is bitcoin difficult to understand (Read 4945 times)
Bitcoin may be difficult to understand if you are a Newbie in the Crypto world. Understanding Bitcoin requires one been ready to learn. Doing some research can also be of a great help in understanding what is Bitcoin and how it works, there are so many Youtube videos, articles about Bitcoin. It may be difficult as the beginning, but surely with time, one will definitely get to know more about it.
The concept of Bitcoin isn't something you can easily grasp from one gist. It might actually take you time to fully understand what it is about. You might not need to go deep into everything about it before you get the concept and start investing.
If you are solely focused on trading then you do not need to understand the technical aspects of things, all you need to learn how the market performs, learn the charts and you can be good at it but you need to have experience in any form of trading platform to understand that either in the forex market or in the stock market. The technical aspects is difficult to understand if you are new to it but eventually you can understand the basic if you are spending time on learning about it.
The concept of Bitcoin isn't something you can easily grasp from one gist. It might actually take you time to fully understand what it is about. You might not need to go deep into everything about it before you get the concept and start investing.
Well, these are usually the most difficult parts of Bitcoin that you need to explain to somebody new to Bitcoin.
Of course there are the technical aspects that are hundreds of times more difficult to understand than this simple resume, but then you need to study programming, cryptography, economy and probably some politics as well.
Of course there are the technical aspects that are hundreds of times more difficult to understand than this simple resume, but then you need to study programming, cryptography, economy and probably some politics as well.
Yes Same us to me in the first place and now Im trying to learn and read the other thread that gain me another lesson to get . Studying Bitcoins is not easy for me and it takes time to me to learn but it's challenging to have a new lesson and gain more benifets about Bitcoins. Im thankful to higher than me in here that they tell me about Bitcoins.
Bitcoin theory is too broad, I myself did not learn through books or theory even history, I immediately wanted to get bitcoin and wanted to know the benefits, many people are confused with bitcoin , on the other hand people are also terrorized by fud news of people who want bitcoin broken. It disturbs them in knowing bitcoin, only a few people manage to get to know cryptocurrency. In fact it happened in my neighborhood.
Nothing is difficult to understand really, if you point yourself in the right direction of your learning ways and habits.
Anyway, bitcoin is just easy to understand, considering an overview of its whole concept and how is it used can be explained even in just layman's terms.
https://bitcoin.org/ provides excellent informative blogs, videos, articles etc. that does the job for an average person who can and want to understand the concept of bitcoin. It does not just limits you to understanding BTC itself, but it takes you closer to the understanding of how cryptocurrency works, especially now that alternate cryptocurrency coins are spawning all over the blockchain universe. Especially in these times of people just sitting around with their computers and devices the whole time, it is an obvious path of opening new doors and opportunities for cryptocurrency and blockchain to be more popular, considering online economy movements is dominating today.
Anyway, bitcoin is just easy to understand, considering an overview of its whole concept and how is it used can be explained even in just layman's terms.
https://bitcoin.org/ provides excellent informative blogs, videos, articles etc. that does the job for an average person who can and want to understand the concept of bitcoin. It does not just limits you to understanding BTC itself, but it takes you closer to the understanding of how cryptocurrency works, especially now that alternate cryptocurrency coins are spawning all over the blockchain universe. Especially in these times of people just sitting around with their computers and devices the whole time, it is an obvious path of opening new doors and opportunities for cryptocurrency and blockchain to be more popular, considering online economy movements is dominating today.
It depends who you ask, the younger guys will certainly say something like it's the new digital gold which is an equivalent to fiat while the older generation might not have an idea about it but of course with a little explanation they will catch on,but with some extra patience because the topic of bitcoin sounds like a ponzi when you explaining it to someone.
As per my opinion Bitcoin is easy to understand, but the backing blockchain technology is quite complex for the beginners. There is misunderstanding between bitcoin and blockchain. The development of different applications have made Bitcoin transactions easier than ever. This makes easy understanding about bitcoin as a transaction source and on other needs such as trading and investing.
You basically do not need to understand the working of Bitcoin to use them, all you need is the user friendly front end wallets that will not confuse people and if they get that then everyone will be trying their luck in the market. First and foremost they need to learn about securing the wallets and select their perfect wallet and then the next hurdle is to find the suitable exchange and if they can do that then it is not even difficult. 
As per my opinion Bitcoin is easy to understand, but the backing blockchain technology is quite complex for the beginners. There is misunderstanding between bitcoin and blockchain. The development of different applications have made Bitcoin transactions easier than ever. This makes easy understanding about bitcoin as a transaction source and on other needs such as trading and investing.
To understand Bitcoin and Cryptocurrency in general it is needed, moreover, there are still many pros and cons in the community regarding this matter. This is also still a new and not quite common in the community.In order not to be affected by issues or negative rumors, we should read a lot from trusted and neutral sources. I like reading technical things related to Crypto from articles published on the Coindesk and Binance website. It's a good idea to join the Crypto Community in your city, this is very good for building a positive circle and learning directly from other more experienced friends.
As per my opinion Bitcoin is easy to understand, but the backing blockchain technology is quite complex for the beginners. There is misunderstanding between bitcoin and blockchain. The development of different applications have made Bitcoin transactions easier than ever. This makes easy understanding about bitcoin as a transaction source and on other needs such as trading and investing.
there are many ways to explore knowledge about bitcoin, now it is sophisticated, open Google, there must be a lot of discussion about bitcoin as long as there is a will, I am sure it is fast to find out bitcoin.
what is wrong and is still being done today is when new people in the crypto world immediately jump into trading in bitcoin and they just follow the trend without knowing how to open positions, how to read charts and so on. they only know to buy by seeing people and participating in fomo.it should have been like that before, at least as you said, see first or learn before going directly because nowadays there is a lot of information about bitcoin. you can even find it anywhere, whether it's in the form of articles or videos
it's one of the faux pas for new people by taking direct action to trade in Bitcoin without understanding how it works first. in fact Bitcoin is quite difficult to understand for those who are ignorant of this technology and do not take the time to read info about cryptocurrencies
You call it faux pas but in reality who of us is all different?
Trading Bitcoin has been exciting from the get go and I guess only a minority managed to fully refrain from trading while making studying Bitcoin a priority. there are many ways to explore knowledge about bitcoin, now it is sophisticated, open Google, there must be a lot of discussion about bitcoin as long as there is a will, I am sure it is fast to find out bitcoin.
what is wrong and is still being done today is when new people in the crypto world immediately jump into trading in bitcoin and they just follow the trend without knowing how to open positions, how to read charts and so on. they only know to buy by seeing people and participating in fomo.it should have been like that before, at least as you said, see first or learn before going directly because nowadays there is a lot of information about bitcoin. you can even find it anywhere, whether it's in the form of articles or videos
it's one of the faux pas for new people by taking direct action to trade in Bitcoin without understanding how it works first. in fact Bitcoin is quite difficult to understand for those who are ignorant of this technology and do not take the time to read info about cryptocurrencies
Bitcoin is difficult to understand for most folks because they do not appreciate what fiat money is.
Majority of people tend to think money = notes and coins. And when their bank says they have $20,000 in the account, it means that the bank physically stores notes to that effect. In addition, a large minority actually think money is convertible to gold.
Witness how people refer to bitcoin as "virtual money", not realising that dollars and euros are equally virtual i.e. just database entries. Further, the concept that dollars in a bank account are fractional claims on database entries tracked by a central bank is as esoteric as quantum mechanics to most folks.
Therefore, Bitcoin as a distributed database tracking a new kind of money is bound to be hard to understand.
Majority of people tend to think money = notes and coins. And when their bank says they have $20,000 in the account, it means that the bank physically stores notes to that effect. In addition, a large minority actually think money is convertible to gold.
Witness how people refer to bitcoin as "virtual money", not realising that dollars and euros are equally virtual i.e. just database entries. Further, the concept that dollars in a bank account are fractional claims on database entries tracked by a central bank is as esoteric as quantum mechanics to most folks.
Therefore, Bitcoin as a distributed database tracking a new kind of money is bound to be hard to understand.
I guess yes it will be hard to understand by explaining bitcoin such that thing, i especially explain to my friend that Bitcoin is digital currency with such a cryptograhic thing and all the participant of the community will be the bank to record the transaction.
With someone without any knowledge, explaining it that way would be very hard to understand, since they are all
using fiat and they fully understand how things works with the system that they've used to, Bitcoin is not hard to
understand for people who have time to study the fundamentals.
I think bitcoin is easy to understand but difficult to explain, the best way to understand bitcoin well in my opinion is to join this forum and besides that find out accurately and positively about the understanding and workings of bitcoin through the internet which I think has a lot of information and others about bitcoin, it all depends on our intelligence in reading and assessing it.
if we do it seriously and earnestly, I think we can easily understand bitcoin very well, but never feel satisfied to keep learning and have to keep learning all about bitcoin and other cryptocurrencies and their risks.
if we do it seriously and earnestly, I think we can easily understand bitcoin very well, but never feel satisfied to keep learning and have to keep learning all about bitcoin and other cryptocurrencies and their risks.
Bitcoin is difficult to understand for most folks because they do not appreciate what fiat money is.
Majority of people tend to think money = notes and coins. And when their bank says they have $20,000 in the account, it means that the bank physically stores notes to that effect. In addition, a large minority actually think money is convertible to gold.
Witness how people refer to bitcoin as "virtual money", not realising that dollars and euros are equally virtual i.e. just database entries. Further, the concept that dollars in a bank account are fractional claims on database entries tracked by a central bank is as esoteric as quantum mechanics to most folks.
Therefore, Bitcoin as a distributed database tracking a new kind of money is bound to be hard to understand.
Majority of people tend to think money = notes and coins. And when their bank says they have $20,000 in the account, it means that the bank physically stores notes to that effect. In addition, a large minority actually think money is convertible to gold.
Witness how people refer to bitcoin as "virtual money", not realising that dollars and euros are equally virtual i.e. just database entries. Further, the concept that dollars in a bank account are fractional claims on database entries tracked by a central bank is as esoteric as quantum mechanics to most folks.
Therefore, Bitcoin as a distributed database tracking a new kind of money is bound to be hard to understand.
I guess yes it will be hard to understand by explaining bitcoin such that thing, i especially explain to my friend that Bitcoin is digital currency with such a cryptograhic thing and all the participant of the community will be the bank to record the transaction.
Peoples fine it difficult to understand what is cryptoccurrency most especially bitcoin,but their interested over cryptoccurrency.
I just suggest that their should be a TEXT BOOK that will discuss about cryptoccurrency in order to educate people who are interested because referring them to online shows that know Manuel evidence of cryptoccurrency. And if their is any article that guide bitcoin.
I just suggest that their should be a TEXT BOOK that will discuss about cryptoccurrency in order to educate people who are interested because referring them to online shows that know Manuel evidence of cryptoccurrency. And if their is any article that guide bitcoin.
To be honest it was only in the last year that I got a better understanding of how the blockchain and bitcoin actually work, for about the last 5 years I've been using it with just a vague understanding. That is part of the beauty of it in a sense, that you're able to have a basic knowledge of the idea (all previous transactions can be viewed and help to form the next calculation). Every beginner can see the long history of Bitcoin, rather like the database that a bank keeps as a private ledger. Much like any investment, if you are going to put a lot of money into your bitcoin holding, it would be best to learn how it really works for your own peace of mind.
They become interested to bitcoin or crypto because they see the potential to earn big amount of money in crypto. But they have no patient to know, or read, or study what is crypto and how does it work. In school we have a lot to learn so as in crypto. We can't get all the information we need by just watching a single youtube tutorial. Me personally, I also find it hard at first because I am too lazy to read. All I want is to just depend and ask my friend but my friend stop answering my question so I have no choice but research what I need to know.
Peoples fine it difficult to understand what is cryptoccurrency most especially bitcoin,but their interested over cryptoccurrency.
I just suggest that their should be a TEXT BOOK that will discuss about cryptoccurrency in order to educate people who are interested because referring them to online shows that know Manuel evidence of cryptoccurrency. And if their is any article that guide bitcoin.
hello sir, i totally agree with there, yes new people today may have to understand cryptocurrencies, even cryptocurrencies can't only be learned in 3 days or so they must really understand how cryptocurrencies work and how to understand correctly , maybe your suggestion about the crypto knowledge tome is good so people won't panic when the bitcoin price starts to drop I just suggest that their should be a TEXT BOOK that will discuss about cryptoccurrency in order to educate people who are interested because referring them to online shows that know Manuel evidence of cryptoccurrency. And if their is any article that guide bitcoin.
Bitcoin is difficult to understand for most folks because they do not appreciate what fiat money is.
Majority of people tend to think money = notes and coins. And when their bank says they have $20,000 in the account, it means that the bank physically stores notes to that effect. In addition, a large minority actually think money is convertible to gold.
Witness how people refer to bitcoin as "virtual money", not realising that dollars and euros are equally virtual i.e. just database entries. Further, the concept that dollars in a bank account are fractional claims on database entries tracked by a central bank is as esoteric as quantum mechanics to most folks.
Therefore, Bitcoin as a distributed database tracking a new kind of money is bound to be hard to understand.
Majority of people tend to think money = notes and coins. And when their bank says they have $20,000 in the account, it means that the bank physically stores notes to that effect. In addition, a large minority actually think money is convertible to gold.
Witness how people refer to bitcoin as "virtual money", not realising that dollars and euros are equally virtual i.e. just database entries. Further, the concept that dollars in a bank account are fractional claims on database entries tracked by a central bank is as esoteric as quantum mechanics to most folks.
Therefore, Bitcoin as a distributed database tracking a new kind of money is bound to be hard to understand.
Bitcoin is so much more than a national fiat currency could represent in the slightest. The mobility it offers and the incentive alignment of all its stakeholders is a unique architecture that no asset so far could offer.
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