Why is Bitcoin difficult to understand?

doraegun

jr. member

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Quote from: Ozkhan on June 21, 2018, 12:28:33 AM

If you look at it as Currency, it is difficult for an average person to understand it because it is different.
Bitcoin, being a different kind of a digital currency, it breaks down conventional thinking in many aspects. No central regulatory body. The concept of mining. The open-ledger (blockchain), the way miners are rewarded, how transporting value is determined by its packet size and not value, the hash rate, the concept of limited supply. The 100 Million pennies in a Bitcoin, etc.
Its difficult enough for people in the money space to thoroughly understand Bitcoin (we all say we understand it, but do we really?).
For a common person, its an overkill. Its like trying to explain the concept of TCP/IP, Networking, Routing, the Internet for someone who wants to use email. Overkill.

That's true 80% of the People don't know about the perfect module and proceedure of bitcoin like me. But the most impressive for me is earning profit without starting capital money through signature campaign even if if I don't know what is mining at least I earn income even just a little.

connexus

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Well the willingness to learn about bitcoin is the main key to better understand and appreciate bitcoin and other crypto currencies. It is not difficult to understand proper learning could lead us to better knowledge.

Bitdressa

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probably because those who use this bitcoin if described to their friends or relatives may not be so complete in their explanation and still have to find their own explanation.

Pemburu dollar

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Quote from: cheerfulrobot on June 29, 2018, 05:13:48 AM

There are such a significant number of references that will assist you with understanding what bitcoin is, attempt to discover it in google , youtube , web journals, or numerous other site that clarify about bitcoin, the first occasion when I thought about bitcoin, I likewise got a trouble to comprehend, I endeavored to learn it well ordered as of not long ago, continue learning mate

I think Bitcoin is a new kind of value. If decentralized properties can be seen as a great advantage to us, being noob or completely alien to cryptoworld, it can be an unstable, elusive variable. The common question is: "why does something that does not exist have value? And why is it rising or digging so fast?". I think more robust information is needed through traditional media, from special places like BCT, to disseminate the basic principles of traditional economics and cryptovalues.
ordinary people do not know anything about the economic basis. They are naturalized with the concept of possible money, when they look at the paper, think of some intrinsic value on it. In addition, banks are more or less trusted institutions that provide a boost to traditional money.

Paka1

newbie

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Bitcoin is not that hard to understand, there are lots of things you can do in order for you to better better understand this kind of cryptocurrency. There are video tutorials available so that you will be able to picture out how it works. You could also search through the internet for your references. Bitcoin can be learned, if you are just determined all the things that involves this crytpcurrency you will definitely understand it.

KennyR

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Bitcoin is not that difficult to understand when the user has the willing to learn something advanced related to the technology advancement. Particularly users who have known much about the negative part never intend to learn. People who overcome the negative and tend to learn easily understand and get the best out of the same.

pencuri hati

newbie

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Initially it is difficult to understand but in the end easy too, need to learn because this is new for me, but from the beginning if I do not understand I often read the article, watching vidio and the last I ask keteman more senior.

adpinbr

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if you think about it.. how can you understand something that is volatile. bitcoin is unpredictable because of its unstable and risky nature so understanding it will be quite hard. but if you look at the optimistic side you would realize that bitcoin is a system where patient and deep understanding is needed because without this you can't achieve a single goal.

Meowth05

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Quote from: xamxam on June 30, 2018, 09:09:36 AM

To ne honest, yes it is dificult to understand at first, almost two or three weeks before I understand it and i also do some research regarding this. Bitcoin forum is a big help for me, when ihave some question in my mind and i see that there are related answer on this forum, i will consider it then.

Indeed, bitcoin is absolutely hard to understand but thanks to this forum we could able to ask some question on those who have experience upon it. It is indeed hard to understand but this can be learn, all you need to do is to gain knowledge and experience then this cypto will not be a problem.

phosphine

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Theres nothing difficult in Bitcoin if you will just make time to read and understand whats Bitcoin all about.

moonami

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Quote from: Ozkhan on June 21, 2018, 12:28:33 AM

If you look at it as Currency, it is difficult for an average person to understand it because it is different.
Bitcoin, being a different kind of a digital currency, it breaks down conventional thinking in many aspects. No central regulatory body. The concept of mining. The open-ledger (blockchain), the way miners are rewarded, how transporting value is determined by its packet size and not value, the hash rate, the concept of limited supply. The 100 Million pennies in a Bitcoin, etc.
Its difficult enough for people in the money space to thoroughly understand Bitcoin (we all say we understand it, but do we really?).
For a common person, its an overkill. Its like trying to explain the concept of TCP/IP, Networking, Routing, the Internet for someone who wants to use email. Overkill.

Its not difficult to understand. You can search it on google or even on youtube. You can study how it works, and how you can earn money from it. Its only difficult when you're not interested to learn from it.

The best one

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As for me why is bitcoin difficult to understand? Because Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system. Beside that Bitcoin is one of the main cryptocurrencies operated worldwide with the help of internet and computers. and it is connected with modern technology. Awareness of technological developments and computer literacy is essential to work in Bitcoin which means minimum eduction is an obligation to deal with if it will not be difficult to understand, the characteristics of Bitcoin are widely attracted by the global community and its popularity is increasing worldwide. Without awareness and literacy, it would be difficult to understand. Thank you.

Kimbohh

newbie

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Well, i don't see anything reasons why do people hard to understand bitcoin while it is only a crypto currency? When i am just new in this forum i don't even call for a help to teach how it goes by but suddenly times goes by i already understand what bitcoin really is.

arjen18

newbie

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Maybe for a newbie in crypto its normal to said that bitcoin is difficult to understand, but for the other member of bitcoin its very easy to understand because they have a strategy to learn bitcoin in everyday life.

saranadia199

newbie

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it is likely that many people do not know the vision and mission of knowledge and understanding why bitcoin is needed. They mine at some point at a great price. yes this is unacceptable to many people because it is little bitcoin currency that is perceived by many people.

kiedis

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It is difficult to understand both from the technological and economical side. People who are not in IT would not understand it completely (I am also in this group), but that is okay, most people don't understand how does the car or computer work and it it completely fine. Additionally, most people have no idea about the economical side of bitcoin, they just have no clue how money work.

xamxam

full member

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To ne honest, yes it is dificult to understand at first, almost two or three weeks before I understand it and i also do some research regarding this. Bitcoin forum is a big help for me, when ihave some question in my mind and i see that there are related answer on this forum, i will consider it then.

muzica0519

newbie

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Quote from: Ozkhan on June 21, 2018, 12:28:33 AM

If you look at it as Currency, it is difficult for an average person to understand it because it is different.
Bitcoin, being a different kind of a digital currency, it breaks down conventional thinking in many aspects. No central regulatory body. The concept of mining. The open-ledger (blockchain), the way miners are rewarded, how transporting value is determined by its packet size and not value, the hash rate, the concept of limited supply. The 100 Million pennies in a Bitcoin, etc.
Its difficult enough for people in the money space to thoroughly understand Bitcoin (we all say we understand it, but do we really?).
For a common person, its an overkill. Its like trying to explain the concept of TCP/IP, Networking, Routing, the Internet for someone who wants to use email. Overkill.

Understanding Bitcoin and other cryptocurrency is very critical for those people with less knowledge in it. Because Bitcoin is a currency, then it could be used for online transactions. But this currency can also be used as investment not just a currency to purchase or do transactions.

royalparade01

newbie

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Quote from: Sir Cross on June 21, 2018, 02:46:32 AM

Bitcoin is definitely not for everyone. Bitcoin is kind of hard to explain to people who are not inclined to technology, especially old people. Not to generalize, but people who are not into technology may also not be interested in studying bitcoin. It’s hard to explain anything to someone who is not really interested. Some people also have negative views regarding bitcoin which makes them skeptical about it. Bitcoin is not hard to understand, I think it depends on the interest of the person to understand it.

Yes I agree, it's not difficult to understand if we studied about it . We should take a risk and more knowledgeable ,researchful and learn the bitcoin.

thecoder2017

member

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Bitcoin is definitely difficult to teach to people who don't have knowledge about modern and advanced technology especially the older ones but they may try goggles and youtube to understand bitcoin.

Topic: Why is Bitcoin difficult to understand? (Read 2109 times)