Because this requires learning the technology behind the coin,not just the value of the coins how could you understand bitcoin if all you want is to earn and not to learn
This needs more time to invest than money,because if you will just invest money but not the time to make research then failure is what you will face
Topic: Why is Bitcoin difficult to understand? - page 13. (Read 2150 times)
BTC and blockchain technology is rather hard to understand because it is something new for people. However, there are a lot of videos in youtube, blogs and etc where it is explained
At first it is very difficult to understand bitcoin, all you understand is just the meaning of it. But with enough effort and time you will understand it.
Yes true bitcoin is hard to understand at first, but when you read and research about it you can slowly understand itband you will be familiar on how bitcoin works. Little by little you will get to know bitcoin.
I think,We should encourage people to understands things a little better. Part of the reason the traditional financial system is such a mess is because the average Joe Public doesn't know how it really works. Some people genuinely still believe banks lend out from existing deposits, for example. Almost everyone has heard of the phrase "fractional reserve", but I doubt more than 50% of people could explain it correctly. But anyone who really wants to understand Bitcoin will inevitably find their way here to these boards.
it has happened from the beginning that Bitcoin can't be understood until now. that's how Bitcoin works.
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, 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.
Why bitcoin is difficult to understand? actually bitcoin is not really difficult to understand if you reading some articles in websites and if youhere in this forum you will understand and learn how bitcoin it is.
For those who are not up to computer and internet and know little about bitcoin surely this is quite hard for them to understand and sometimes to explain with this new system or technology and how it works sometimes so hard to grasp, its so technical... for me is the reason why it find them difficult.
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.
Bitcoin is not difficult to understand if we are interested especially when they are younger.some people difficult to understand because they have negative thinking and afraid of scam because they can influence by media of what they are seeing.
Most of the people don't know about bitcoin and whenever the one who start to use something new it is definitely going to face some problems and as we first start banking we are not use to it so we face some issues as same with the the bitcoin it is a digital currency the new starters are going face some difficulty and to bear some loss to not invest on some coins on wright time or wright moment so after time passes they will use to it.
actually bitcoin is not difficult to understand but the difficulty come from the usual things that we used to know and practice so it has become as a new thing new payment so it takes time to adapt and just by some tutorials and reading a little you can solve it and start to practice.
bitcoin is actually very easy to understand if the person has a computer background and already understand the computer would be very easy but for new people is difficult because the computer language is difficult to understand people who do not know computers and technology more deeply.
Some people naturally like to stick to what they know and what they learnt from their grand father without embracing new things. You will be surprise that so many people in my country do not use ATM, they still prefer to withdraw money inside the bank. No matter how you simplify the usage of bitcoin most people will not understand because they do not want to understand.
Bitcoin is difficult to understand to those people who are in simple living and less in using technology.Because they dont want to rely on those things.They dont want to understand and get affected by it.
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.
It's really hard to understand bitcoins especially if you do not really give them time to understand. It is difficult because it's different because we do not touch it. Its price is also not stable. But if we can say that bitcoin is a digita currency that can be bought in fiat moneys. It can also be a form of investment where the price rises and falls. 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 it is difficult to understand because it's still illegal to many country. some people it is hard for them to understand about the bitcoin, they need our knowledge to help them to know what kind really is this.
If you are well verse with new technology ,like gadgets , software, computer programme , bitcoin can be fully understand and performed well ,but if your are not familiar with technology like people in the rural places , bitcoin is difficult to understand , because bitcoin needs to familiarized the things especially that it is in digital world.
It's not really that difficult they just don't understand it a little bit more. there's youtube and vlogs that teach you what and how to use bitcoin
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, 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.
A person can learn about bitcoin once someone introduce it to him or her. But for able to understand the whole system of bitcoin or the digital currency or the cryptocurrency world, it takes not only a friend or someone, but you yourself to understand it through many means of gaining knowledge. It includes reading articles, watching infographic videos in youtube and others. Knowledge about bitcoin is not just about like spoon feeding that they will teach it to you but it takes initiative from yourself to learn those things such as bitcoin which is a complicated one.
Therefore no difficult in bitcoin, if we believ rand trust on it. People having a hard time to understand bitcoin because they have their own doubt and understanding about it. But if we all believe and have a faith on it that it will be rise i think we can make it in a easy way. So I believe bitcoin is not difficult at all, we only make things difficult and we are responsible of it not the bitcoin.
Just learn from bitcoin and explore it one step at a time. To fully understand something like bitcoin needs time. If one is interested and willing then that person will gradually learn.
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.
Bitcoin is very hard to understand of the people, if they are not interested especially old because they don't know how to work it. Some people always think negative that the Bitcoin is scam. But if we know what is bitcoin and you know what are the benifets that we can get, it is easy for us to understand and we know how can get profit to earn.
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