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Topic: Why is Bitcoin difficult to understand? - page 16. (Read 2139 times)

member
Activity: 272
Merit: 10
Who says bitcoins are hard to understand ? There are teenagers who are investing and making millions in profit.

Those teenagers are smart. Been teaching some graduate about bitcoin, they are always confuse. I have one lady when she saw the volatility of bitcoin she quickly sold off and ran away. We all don't have same capacity of understanding, reason I take out time to show people msotly graduate how it works.
newbie
Activity: 185
Merit: 0
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 might seem difficult to those who know nothing about bitcoin. At start even alphabets seem difficult to little kids until they start reading. In the same way, if you read about any coin, let’s say TAU, you will get to know what a great coin it is and how it functions without any complications.
full member
Activity: 233
Merit: 100
There are so many references that will help you to understand what bitcoin is, try to find it in google , youtube , blogs, or many other website that explain about bitcoin, the first time i knew about bitcoin, i also got a difficulty to understand, i tried to learn it step by step until now, keep learning buddy
Yeah that's right. It is really difficult to understand if you don't have an action to understand it. Try to collect information. There are many ways to do it and it's up to you.
newbie
Activity: 175
Merit: 0
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.
Nope! Bitcoin is pretty easy and simple. It is not difficult to interpret. You just need to be clear about some concepts which can be seen via different videos on youtube. PRG coin for instance seemed hard to understand until I saw the website and read its white paper. Now it is on my fingertips.
member
Activity: 432
Merit: 10
Bitfresh - iGaming with 90s UI
why bitcoin is difficult to understand because they do not know the digital currency so it is difficult to understand that it's easy to do if somebody will teach you bitcoin or you can not watch youtube to find out what bitcoin really is
newbie
Activity: 112
Merit: 0

This is the uniqueness of bitcoin, so that the fans are more curious. Behind the mystery is difficult to understand, stored value so great. So in the pursuit of the traders.
newbie
Activity: 49
Merit: 0
Well, common people don't know anything about the basic of economy. They're so naturalized with the concept of money that maybe, when they see the papers, think of some intrinsic value on it. Furthermore, banks are a more or less trusted institute which give thrust to traditional money. Bitcoin its a new kind of value. If the decentralized nature could be seen as big advantage by us, for noob or totally stranger to cryptoworld it could be an unstable variable, difficult to understand. A common question is: "why something which not exist has a value? and why it rise or dig so fast?". I think more intense information is needed through traditional media, out of specialized places like BCT, to spread basic principle of traditional economy and cryptovalues.
newbie
Activity: 2
Merit: 0
Who says bitcoins are hard to understand ? There are teenagers who are investing and making millions in profit.
jr. member
Activity: 150
Merit: 2
Is unfortunate bitcoin is tag as scam and illegal by some people and has allowed average Joe to interact with it. Bitcoin is a complex business for higher intellectual. That's why it seem difficult for average man
full member
Activity: 686
Merit: 108
You need to teach yourself on the off chance that you truly need to realize what is Bitcoin and how it functions. There are a considerable measure of instructional recordings on YouTube, news articles from the web, there are extremely useful.

But I do not think so.  Not all YouTube videos allow you to correctly understand the essence of bitcoin.
If you think youtube is not enough then find other way! Don’t just give up easily, there’s a lot of ways to learn more about this market. Those who make effort to understand bitcoin will succeed in the long run, its hard but it still worth it for sure.
newbie
Activity: 70
Merit: 0
It is not that difficult, maybe others just do not seriously taking this technology that's why it's difficult for them. If they will just concentrate on learning things about this currency maybe it will become easier for them.
newbie
Activity: 238
Merit: 0
Not difficult to learn,  you only need to commit yourself and it will be easy
hero member
Activity: 728
Merit: 503
dApps Development Automation Platform
I think the reason why bitcoin is hard to understand is because there are many other components in bitcoin that have to be understood when we are learning bitcoin. Bitcoin is beneficial but in the other side its also complex too.
jr. member
Activity: 238
Merit: 3
Because this is a new technology in which you need to figure out the end
newbie
Activity: 116
Merit: 0
I think the hardest thing to understand in bitcoin is how it all works. But if you are interested and determined to learn about crypto, you should learn to understand and make your knowledge larger. You have to be open minded in bitcoin.
full member
Activity: 460
Merit: 100
I think its difficult to understand because bitcoin is a new currency and bitcoin is defference in fiat money or other investment and bitcoin is not so popular in every country so that people did not have a idea about bitcoin or cryptocurrency but if people hard to study bitcoin i think people understand it.
full member
Activity: 347
Merit: 100
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 different to understand because there are so many process here before you can work or you can get the money you earn. Actually in bounty campaign or signature campaign you will get your token in a long time but there's so many process just like you need to change it to real money.
newbie
Activity: 112
Merit: 0
You need to teach yourself on the off chance that you truly need to realize what is Bitcoin and how it functions. There are a considerable measure of instructional recordings on YouTube, news articles from the web, there are extremely useful.

But I do not think so.  Not all YouTube videos allow you to correctly understand the essence of bitcoin.
full member
Activity: 294
Merit: 100
You need to teach yourself on the off chance that you truly need to realize what is Bitcoin and how it functions. There are a considerable measure of instructional recordings on YouTube, news articles from the web, there are extremely useful.
member
Activity: 308
Merit: 15
Yeah i had the same thing also that comes to my mind since i am trying also to teach my colleagues regarding on cryptocurrency and unfortunately i have some difficulties on teaching them since it is very technical in a means that it could not be learned in just one day. The learners need to get more time before it will sink in to their minds and be able to fully understand what is cryptocurrency all about.
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