Why is Bitcoin difficult to understand? - page 10.

LigwagGanern

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Activity: 307

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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.

Bitcoin is difficult to understand specially if your mind is not open in business. If you have a stand that earning money online is impossible. But if you really want to earn more money, just need to trust the one who told you about bitcoin or teach you. And you need to seek more information about it and you will saw many evidences saying that bitcoin is legit and you can earn money using it.

montaza

newbie

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It is not so difficult for me when i start and heard bitcoin. if you want to learn something you just google it and read many articles of it.
Just like bitcoin, read more articles about it while learning, it just takes time to learn step by step, you will learn by your experience.

appleyard

member

Activity: 359

Merit: 15

There are so many articles blogs and short books that, We may use to help us explain bitcoin to an average person who dont have technical knowledge. The key for the explanation here is the fast and easy to use then explain to them how it works, this will help them to gain interest to bitcoin. Showing a short film or video about bitcoin will help too.

jassanpary

full member

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Arianee:Smart-link Connecting Owners,Assets,Brands

Quote from: reyanshbasu on June 26, 2018, 09:27:54 PM

Everything becomes easier if we put the time to study and to learn, like in Bitcoin before investing we need to have an idea of what it is. It's not difficult to understand because there are so many ways to get on it like viewing on youtube, searching google what is bitcoin and how it works. But its really true, I read some comments that bitcoin is not for all mostly for those negative mind.

Yes I would also think that to understand the bitcoin is nkt a difficult task, first do the ground work means elementary study of bitcoin is necessary, once if we go through that then it would be easy to understand and also to follow the bitcoin and many are successful by doing so.

CryptoGamblingSites

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Activity: 532

Merit: 26

Bitcoin is harder to understand because most people don't grow up knowing "where money comes from" or the politics involved in creating money.

Unless someone is willing to actually understand that, they won't "get" bitcoin or what problems it is solving.

Then you have different economies around the world that want to make bitcoin "work" within their current economy and financial systems easily. This is where the local media helps the governments, that don't want their citizens controlling their own money, believe that bitcoin is a scam.

If people just stuck to the basics with others when they don't know about bitcoin... stop talking about the price, it would be much easier for everyone. The non-believers don't NEED to believe in or buy bitcoin, if they want to know WHY some countries and some people see value in bitcoin then that is all they NEED to know when discussing bitcoin.

The world will catch up eventually, all the noise before the masses adopt is just a waste of time.

MedicineVNT

newbie

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Bitcoin makes the swimmers because bitcoin is the advent of modern digital technology that fits into the same investment market as investing in the real estate market but they are more modern

anume123

full member

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Proof-of-Stake Blockchain Network

During my time of bitcoin for almost three years I've got much to understand about it but I think you just need to read it in the forum and you will learn more about rules and how to earn tokens to become a money.

crossabdd

legendary

Activity: 1316

Merit: 1145

what is bitcoin.? I think it will mean a lot in this one question. but in essence they want to say that it is a digital currency. but how can it be useful.? few people understand that. because I myself also don't really understand about the inside of bitcoin. blockchain is something complicated to decipher. and can't be understood by ordinary people. and at the core of most people. bitcoin is a fiat moneymaker.

reyanshbasu

newbie

Activity: 115

Merit: 0

Everything becomes easier if we put the time to study and to learn, like in Bitcoin before investing we need to have an idea of what it is. It's not difficult to understand because there are so many ways to get on it like viewing on youtube, searching google what is bitcoin and how it works. But its really true, I read some comments that bitcoin is not for all mostly for those negative mind.

iotarocket

newbie

Activity: 140

Merit: 0

I think part of why it's so hard to understand is that the infrastructure is just being built for scaling, and when software is relatively new it tends not to be so user-friendly. It's merely a step beyond proof of concept - speaking of cryptocurrencies generally.

MDIPANJAN

newbie

Activity: 98

Merit: 0

Actually it's quite correct that it's hard to understand Bitcoin, One day when I begin to start thinking
I've learned something about it and the next day it proves me wrong and shows me i've so many things
to learn about it.
I'm doing my due research on bitcoin and trying to understand it better not completely though.

cutecute

full member

Activity: 378

Merit: 100

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.

Bitcoin is difficult to understand because if it is easy I think there are so many toxic people that will also work here. There are so many process before you can work here so that they can see that if you make a research that's the time that you will say that you are interested to it

elwiswoodie

member

Activity: 378

Merit: 16

yes, the majority of people are only concerned with the price of BTC alone, without knowing that the technology behind Biitcoin, the blockchain is very powerful
even Jack Ma once said, that blockchain will revolutionize the world and Bitcoin will become Bubble

markslayer23

newbie

Activity: 1

Merit: 0

Since I am starting to know bitcoin and cryptocurrency yes, it is very difficult to understand if you don't know the process and the meaning of it and when no one is guiding you. The first question coming up in your mind is what is digital currency and how to use this cryptocurrency thing. But lately I give myself a research and reading about blockchain and now I understand slowly that digital currency is more easier to make transactions through paying and sending money and also you can earn and get a profit of these crypto coins.

prediction on bush

member

Activity: 231

Merit: 10

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.

I think bitcoin is not difficult to understand if you really want to learn bitcoin you can read a articles in websites also you can read here in this forum and there are so many ways to understand bitcoin if you want really want to understand it.

Lalafell

sr. member

Activity: 812

Merit: 250

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 in your opinion bitcoin is not for everyone, especially to people in very low common sense a illiterate , like my land lady she always say that bitcoin is illegal, scam she always see the negative views, its hard to explain her about bitcoin .

fillippone

legendary

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Fully fledged Merit Cycler - Golden Feather 22-23

Sorry if i am late in the discussion and maybe I restate the obvious or something has aldready been said (i browsed quickly on the thread and didn't see anything btw).

Bitcoin is difficult because it is something at the intersection of four very different topics:

1. Monetary theory
2. Game Theory
3. Distributed computing
4. Cryptography

I thin a dozen people can understand the 4 topics with the full required details, a hundred 3 out of four, a few thousands two, and manw thousands just one of the four.
Note that each field is necessary fo fully understand bitcoin, and the lack of each of them deeply change the matter.
Of course say I am a cryptographer: I will tend to interpret bitcoin in a very different manner than an Austrian Monethariss, being the opbject exactely the same.
So, Bitcoin is difficult because it IS difficult, actually one of the most difficult topics right now (that's why i think there is a so high concentration of brain power, money, and efforts pouring in this industry).

My two cents,
Filippone

PS. my 10th post, looking for merit as a way to understand how to contribute to this community...

tanginamoo

full member

Activity: 276

Merit: 100

As for my own perspective, I think some people find bitcoin difficult yo understand because the bitcoin itself is unfamiliar and new to us and maybe they are not ready for the change so they cannot fully understand it.

queenlaurel

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WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

I don't think it difficult, what I think is that one needs interest to be able to deal in Bitcoin. The quest to know more and trade will also make it easy to understand. If you are the type that likes to trade then Bitcoin should be easy.

delightme

jr. member

Activity: 224

Merit: 1

from my own view i think bitcoin difficult to understand because it is a the first coin digital and some people find it so difficult to understand.

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