Is Bitcoin too difficult to understand?

AiBBio

newbie

Activity: 42

Merit: 0

Quote from: project_delta on November 05, 2018, 05:50:55 AM

So I was watching "The Tonight Show Starring Jimmy Fallon" and I came across a video where Jimmy is talking about Bitcoin's Birthday " Thank you, Bitcoin for turning 10 years today this week which is the exact amount of time it takes for someone to explain it to me what the hell Bitcoin is".
Also, I know it was meant as a joke but don't you think this explains facts in a humorous way!
I feel like the biggest problem with Bitcoin is the "understanding" of it.
What do you think?
If you want to watch the video, here's the link: https://www.youtube.com/watch?v=i3Hma8DKXS8&t=100s
(0:53----1:07)

I think Bitcoin is too difficult to undestand for people that at least don't try to understand it.

Rocky19

newbie

Activity: 22

Merit: 0

yes it is quite difficult to understand cryptocurrency as even i have suffered a lot to understand it but finally understood ....
mainly we have to pay attention and then it will be very easy to understand ...

bagsat

copper member

Activity: 95

Merit: 0

Its depend on how people believe. If people believe that bicoin do exist, of course they will find way how to fully understand about bitcoin. But if person doesnt, they will have hard days understanding bitcoin.

Ragnar143

newbie

Activity: 70

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i think its not difficult when you know about black chain

razi307

newbie

Activity: 37

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https://contest.sparklemobile.io/7729/5589197

Vladislav2306

jr. member

Activity: 294

Merit: 1

In my opinion it is easy to understand. Those who tell as that it difficult just scared of it. Today the biggest problem of bitcoin is price drop (unlike ripple)!

Bincanet

newbie

Activity: 33

Merit: 0

After spend much time to learn bitcoin and crypto world, i find it is not so difficult to understand. Now, I have confidence on joining in this world.

bitfocus

member

Activity: 532

Merit: 15

it just need a little time to read a few pages and some time to think, but most of the people don;t even have that time, theya re actually driven by greed.

denmark00

newbie

Activity: 32

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It is not that difficult, the most important thing you need to do is spend much time to learn and investigate Bitcoin. It could help you understand it more.

Maamejane

member

Activity: 378

Merit: 10

Decentralized Continuous Audit& Reporting Protocol

i don't think understanding is the real issue but rather what i think of is it usage and the mechanism involve. It really high technological expertise for you feel safe and secure for its daily usage.

syntac

full member

Activity: 338

Merit: 100

in my personal opinion, bitcoin is a time money machine, because of what? because we can get money easily or vice versa. We recommend that if we want to profit a lot, we must be observant and careful about the value of the dollar, where when the dollar is high, we just let go of our bitcoin and vice versa. good luck.

hellywilliams

newbie

Activity: 12

Merit: 0

also what is about Precium platform?

Dudeperfect

hero member

Activity: 1190

Merit: 534

I believe that not even a single thing is difficult to understand as far as we are getting the information in proper structure and interesting form. As far as Bitcoin is concerned, we can compare it with the email system. I am sure that more than 95% of the population using email facility has no idea that what happens in the background when they send email to someone. However, they have adequate knowledge including security aspects to use email facility for their purpose. The same thing can be applied with Bitcoin, everyone is not required to understand the concepts like Hybrid PoS/PoW as far as they have a basic understanding about crypto and risk/security aspects associated with it.

axxo

hero member

Activity: 916

Merit: 500

If the people knows how to invest in the stock market it would not be difficult for them to understand bitcoin and other crypto currencies because they have the same concept. Understanding bitcoin is easy to those who are interested and accepts crypto currencies.

keanne_isaac

full member

Activity: 392

Merit: 103

www.daxico.com

I think it doesn't matter to fully understand what Bitcoin is and how block chain may used in order to successfully execute one transaction plus how Miner take it's job to deliver once request. As long as you know how Bitcoin be use as a payment for any online transaction in replace of real fiat then it is good to go. People don't need technical knowledge how block chain .

SamarasLoch

jr. member

Activity: 250

Merit: 3

Crypto Trader/Enthusiast/Investor

Took me less than a week understand the basics of Bitcoin. If you don't wish to delve into the technicalities, then understanding Bitcoin is as easy as ABC. Bitcoin simply put is an electronic means of money that can be used to carry out borderless transactions, make payments and store of value. Without needing a third party for processing its transactions, transactions are carried out on a peer-to-peer basis. Bitcoin is not controlled by anybody nor subject to any regulations.

Stac

full member

Activity: 419

Merit: 100

Bitcoin is not too difficult to understand but it is linked with the modern technology which will be little bit difficult to handle to the common people except the modern generation people who is familiar with the computer and the modern technology .Due to the wide publicity and its popularity bitcoin's initial problems has been resolved with in the 10 years span. Now the global community has aware that bitcoin is much suitable and relevant to make human life much easier .The global community is getting the financial freedom with out a third party interference for their financial transactions.The invention of bitcoin is one of the greatest finding in this century.It is digital currency can be operated world wide for the benefit of the global community and its features are very attractive to the business community The introduction of bitcoin can entirely change the face of the global economy which is totally contrary to the present form of economical concepts which is not too difficult to understand just to aware the features of the modern technology.

Zalura

newbie

Activity: 73

Merit: 0

Quote from: walemil on November 05, 2018, 06:30:51 AM

Bitcoin definitely has to pass through the stage of understanding it for people to be able to use it worldwide. This cannot happen overnight because it is a process. Understanding virtual banking and electronic fund transfer was not easy when newly introduced but people got used to it over a period of time. Same will happen with bitcoin. I learn that some schools are already teaching cryptocurrency.

There is nothing difficult in this world, as long as we want to learn and want to understand how it works, bitcoin is a program of blockchain that has a system that is interconnected so understanding it is not that difficult , and bitcoin is a digital currency so it's easier to understand it and explain it to all people, something that is easy don't be difficult.

biskitop

full member

Activity: 686

Merit: 104

the most difficult to understand from the start was the founder of Bitcoin. some say sathosi from japan, there are also from english, some say from australia. and the change in the function of bitcoin, from the beginning of its creation bitcoin was aimed at transactions, but lately it has been used by people to trade with each other, which in fact makes its value decrease.

bolbau

full member

Activity: 574

Merit: 102

bitcoin is not difficult to understand, all that is needed is a willingness, intention and interest in bitcoin itself. the problem today is, the popularity of bitcoin is still limited to aspects of profit for traders and users. the form of massive education is still rare, this is an obstacle. bitcoin knowledge is a process, what jimmy fallon said is not wrong, this is the reality and issues that bitcoin and cryptocurrency must solve as a whole. many people still don't understand bitcoin, it's not bitcoin that is hard to understand!

Topic: Is Bitcoin too difficult to understand? (Read 2093 times)