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Topic: Why is Bitcoin difficult to understand? - page 20. (Read 2150 times)

sr. member
Activity: 406
Merit: 254
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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.
For 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. To inform them that it's not scam, I said this because some of them thought that this was not real. Yet they need to understand  the most important things about of this, ao that they will realized that it was not what like they thought, that they were wrong.
newbie
Activity: 98
Merit: 0
That is why people need to be educated with this kind of innovation. People tend to think that bitcoin is a scam, a fraud, a waste of time while for some people it becomes their profession. Bitcoin can be the center of trade, banking and finance and simply the innovation of a country. People with little knowledge about bitcoin will tend to tell false information about it. With that, people will think that bitcoin is nothing but trash. But for us users who gain something, we should be quiet about it and let the bitcoin do the talk.
full member
Activity: 756
Merit: 133
- hello doctor who box
Bitcoin itself is not really hard to understand but if you do want the elaborated way you can study the deeper parts of it. there are some videos on youtube that will make you understand the basic functions and what you're going to do with bitcoin.
newbie
Activity: 182
Merit: 0
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.

I really believe that Bitcoin is hard to understand if we are not interested especially when we are older it is difficult to explain but if we are interested it is very easy to understand and we know how to work it and we know how to get more profit.
jr. member
Activity: 293
Merit: 1
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.

In conclusion only people who know the computer science and systems that can understand Bitcoin, the rest just want to get the benefits only.
member
Activity: 131
Merit: 10
Most people are not familiar with financial markets and such concepts as "risk" and "volatility." Not everyone understands the causes of volatility and know which factors may influence the btc growth and its fall
jr. member
Activity: 294
Merit: 7
BITDEPOSITARY - Make ICO's , More Secure
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.

yes, right now the people are trying to understand the bitcoin because it's not being normally used so they don't accept it as it is. But once more people start using it, they will not think twice
jr. member
Activity: 238
Merit: 1
Yes, I totally agree with you, since time is first and foremost, profit loves time, so do not expect 1-3 days, I think it's wrong.
member
Activity: 322
Merit: 10
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.

It is really difficult to undestand bitcoin because volatility and unpredictable behavior are the main constraint to undestand it's platform fully. That's why people are always opt those things they well greatly knows, because of their great difficulties in embracing what's something new in digitai currencies technology.
newbie
Activity: 210
Merit: 0
First you need to research about bitcoin to know more about it. Sometimes it's difficult but it easy to know step by step. You need to be patient.
newbie
Activity: 72
Merit: 0
Bitcoin is something new in the field of finance that is a digital currency that can only be used through block and internet network, bitcoin is not the same as fiat money that can be used as a means of transactions anywhere without the need of internet network, therefore people who do not understand the internet difficult to understand bitcoin because it has no real shape and physical.
member
Activity: 434
Merit: 10
We can understand bitcoin if we want to understand it thoroughly, just watch a video from youtube about bitcoin and read many article from google and you can easy to understand what is bitcoin and how its work.
full member
Activity: 650
Merit: 100
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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 not difficult to understand if we just open our minds to this new trend of cryptocurrencies,most people nowadays don't believe that there were existing digital currencies that gives us an opportunity to change our usual way of living to a productive one.They thought that its concept is a scam, reality speaks people speculates all the time.
full member
Activity: 461
Merit: 101
This is why Bitcointalk is created, to simplify the complex things about bitcoin. All we need to do is read and research things we dont know about bitcoin. It would take time for newbies to understand much about bitcoin just like I did, but time and effort combined will make us learn most about bitcoin.
Definitely this is the purpose why Bitcointalk is made and that is to educate us, educate the new member of the group to be able to perform a certain tasks that is required here in crypto world. Bitcoin is difficult to understand to those people who are lack of knowledge about bitcoin, difficult to those who are on going process of learning crypto.
newbie
Activity: 139
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.


Because bitcoin is something new that people are not used to. It takes time for people the grasp the meaning and significance of it. But you don't have to totally understand the difficult technicalities behind to get involved with cryptocurrency. A basic research would help a beginner to start his way up.

Some people are having difficulties in understanding bitcoin and cryptocurrency because they are not willing to take some time to study it and take a look at it. At first, I also have some confusions about this bitcoin and how it works, but because I am very interested to know more, so I take some time to do research and little by little, I already understand it. So for them who dont understand what bitcoin is yet, they just have to be open-minded and do some research like in google, youtube and sources like the bitcointalk forum.
newbie
Activity: 147
Merit: 0
Bitcoin is a new form of currency which is digital. This means that it lacks physical forms. This makes it difficult for people without much knowledge in operating digital systems. Moreover it is a new currency with a new technology so it takes time to gradually understand it totally.
jr. member
Activity: 224
Merit: 1
Many people think that Bitcoin is a very confusing thing, but Bitcoin is something that is simple to understand. such as investing in bitcoin we buy at the time the price goes down and sells it at a high price. if mine problems we need to learn more about bitcoin gradually.
newbie
Activity: 39
Merit: 0
Imho bitcoin is not that hard to understand, the internet is full of (i)rellevant information, so who truly want to know, just read the info.
member
Activity: 350
Merit: 30
This is why Bitcointalk is created, to simplify the complex things about bitcoin. All we need to do is read and research things we dont know about bitcoin. It would take time for newbies to understand much about bitcoin just like I did, but time and effort combined will make us learn most about bitcoin.
member
Activity: 261
Merit: 10
There is no difficulties if you know how to understand well and it is easy to understand if you are in focus and interested in a thing you want. 
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