Why is Bitcoin difficult to understand? - page 22.

Phinoy

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Quote from: wantjokull on June 21, 2018, 12:35:02 AM

Quote from: Ozkhan on June 20, 2018, 11:28:33 PM

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.

May be yes that is how it all works. For general public bitcoin is just medium of transaction and lately it is just way of earning money. Thats all people think about it. In reality no one really want to understand how bitcoin is really working here or how the mechanism of action takes place when someone transact over the blockchain and how miners catch and verify it. They just know that its BTC and it has got value wroth thousands of dollars. They know various ways to grow their fiat by means of using bitcoin. That is all it is for general population and I think it will stay as it is !

For those who are not interested on that particular activities like bitcoin it is difficult to understand of course to the people who are started on the activities but if you ask there is no way not to be understand and also research and always update on what is new so that you are updated always on that particular activities you are joining.

hermae

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Quote from: Batask on June 21, 2018, 02:06:00 AM

Quote from: BagzMM on June 21, 2018, 02:00:10 AM

Anybody could learn if theirs a willingness on it. If someone is interested to explore then in could be more easier to learn. Just take it slowly and not to feel hopeless then at the end of the day you will explore and love the world of BTC.

There is no difficult to understand if you are deteremine enough to learn, if you are interested on something give some effort and willingness, just take it slowly, slowly but surely. Put some effort if you are willing to understand the nature of bitcoin. You will slowly realize the world of bitcoin someday.

Bitcoin may be difficult to understand for the people who dont have interest in it. If a person is really eager to know more about bitcoin, then he will find a way to understand it better. There are many references one can find like in google, videos in youtube and in the bitcoin forum.

Batask

jr. member

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Quote from: BagzMM on June 21, 2018, 02:00:10 AM

Anybody could learn if theirs a willingness on it. If someone is interested to explore then in could be more easier to learn. Just take it slowly and not to feel hopeless then at the end of the day you will explore and love the world of BTC.

There is no difficult to understand if you are deteremine enough to learn, if you are interested on something give some effort and willingness, just take it slowly, slowly but surely. Put some effort if you are willing to understand the nature of bitcoin. You will slowly realize the world of bitcoin someday.

ShitTL

newbie

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I find bitcoin as simple as our currency. One thing is that bitcoin does not use cash as our currency, if you have passion as well as you like discovering what you are going to understand. related to bitcoin

BagzMM

member

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Anybody could learn if theirs a willingness on it. If someone is interested to explore then in could be more easier to learn. Just take it slowly and not to feel hopeless then at the end of the day you will explore and love the world of BTC.

RNGfight

member

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Open and Transparent Science Powered By Blockchain

Even now most people entering the crypto-currency market see bitcoin only as a speculative tool.
This is not appropriate, however, because they have not really discovered the value of bitcoin.

NeuroticFish

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Quote from: DooMAD on June 21, 2018, 01:34:00 AM

Quote from: NeuroticFish on June 21, 2018, 12:44:57 AM

You need to understand a small number of things:
1. Wallet safety and computer safety.

To play devil's advocate, this alone is sometimes too complicated a subject for many people, heh. By the time you've told them to be careful with online services designed to hold funds (which should always be one of the first things to explain to new users), make regular backups, how to store the backups securely, use a unique and strong password, not lose your password, how to keep your devices secure and malware-free, etc. many of them will have glazed over and forgotten half of what you just told them.

You're right, security can be a tough subject.
But there are also shortcuts there too, up-to-date antivirus/anti-malware/internet security is a start, don't click any links just because you've got them by e-mail (and also don't install every cr*p) is common sense and the hardware wallets are the cherry on top. See? Almost done. It's also common sense to read the manual and the hardware wallet will also tell to write down the seed and keep it super-safe.

And no, no online wallets, starting with "online services to hold funds" usually leads to safety risks and also can lead to misunderstandings (related to fees, for example).

Sir Cross

full member

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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.

aoluain

legendary

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I think the most difficult part that people have trouble understanding is mining
and the fact that coins are just created from "nowhere"

I find if the explanations are simple with simple language people can get their
head around the concept.

Phrases like:
Calculating transactions rather than Mining and algorithms
Secure folder on a computer instead of encrypted wallet
as an example.

DooMAD

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Leave no FUD unchallenged

Quote from: Ariem on June 21, 2018, 01:24:55 AM

People are treated with apprehension and distrust to everything new, just like people immediately treated electricity, internet and credit cards. I think time will pass, it can be five or ten years and people will begin to understand and trust to bitcoin and will get used to it.

Yes, there's definitely an element of that too. It doesn't help that mainstream media often call it a scam/ponzi/bubble/etc, meaning that some people are less inclined to look into it because the media have already told them what to think. Everyone wants to get their information second-hand rather than finding out for themselves. I suspect it's going to take a while for perceptions to change.

Quote from: NeuroticFish on June 21, 2018, 12:44:57 AM

You need to understand a small number of things:
1. Wallet safety and computer safety.

To play devil's advocate, this alone is sometimes too complicated a subject for many people, heh. By the time you've told them to be careful with online services designed to hold funds (which should always be one of the first things to explain to new users), make regular backups, how to store the backups securely, use a unique and strong password, not lose your password, how to keep your devices secure and malware-free, etc. many of them will have glazed over and forgotten half of what you just told them.

brainape

sr. member

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Quote from: happistarjp on June 21, 2018, 01:26:07 AM

You have to educate yourself if you really want to learn what is Bitcoin and how it works. There are a lot of instructional videos on YouTube, news articles from the web, there are also infographics on Pinterest that are very helpful. You got all the resources that y'all need. So it's really not that difficult after all Wink

.

I think its not a rocket science to understand. It even do not require a regular or proper education, you just need to study about it for some time so that you may know about the basics of bitcoin and understand how to use it. the only important is that you must have some basic knowledge about computer android mobile and about internet, and i think that you will learn about bitcoin within few hours.

happistarjp

newbie

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You have to educate yourself if you really want to learn what is Bitcoin and how it works. There are a lot of instructional videos on YouTube, news articles from the web, there are also infographics on Pinterest that are very helpful. You got all the resources that y'all need. So it's really not that difficult after all Wink

.

bigmaster23

full member

Activity: 518

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WWW.BLOCKCHAIN021.COM

many understands crypto as a rising aviation to success, delinquent person often chose the fact before waiting the goal of that matter, as for this some people had heard the news of the rising popularity of bitcoin and all of their friends tag along and friends of their friend also hang on the trend, we see that every person involve with the paragraph jump in to bitcoin without basic knowledge to crypto this is the reason why many or some lose about 50 to 70 percent investment in their bitcoin as bitcoin back down from 6k $ to 15K if your not smart enough with this and hoping for bitcoin to recover as fast as it drops your living in a dilemma situation.

Ariem

full member

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People are treated with apprehension and distrust to everything new, just like people immediately treated electricity, internet and credit cards. I think time will pass, it can be five or ten years and people will begin to understand and trust to bitcoin and will get used to it.

DooMAD

legendary

Activity: 3948

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Leave no FUD unchallenged

There is quite a bit to explain if they really want to understand on a technical level, but then the same applies to Automated Clearing Houses. It doesn't matter if none of that makes sense, because you don't need to understand it to use cards to pay for stuff. Just like you don't need to be a technical expert in Bitcoin to use it effectively. Plus, clever people are always coming up with new ways to make the software more user-friendly. It's only ever going to get easier to use over time. All anyone really needs to understand is to observe someone sending a transaction to see how simple it is.

Of course, 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.

davis196

hero member

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Why do people have to understand bitcoin?They can use it without the need to understand how the blockchain works.Most of the people don`t even understand how a bank works,but they open bank accounts all the time.Do you know how PayPal and VISA work?I don`t think so,but most likely you have a PayPal account or VISA card.

cryptokingdom

member

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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.

hitrawal91

full member

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BitcoinSN - The Real Bitcoin!!!

There is nothing complex in bitcoin, it is only we who think bitcoin is complex and actually we don't know how to tell people what bitcoin is and it is difficult to teach people what is bitcoin and how all the process goes on. There are many youtube and vimeo videos released by which one can easily understand the concept of bitcoin. You can also make use of Facebook groups, google and yahoo answers in order to know the bitcoin or in order to explain the bitcoin in a much better way.

reda

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Quote from: NeuroticFish on June 21, 2018, 12:44:57 AM

Quote from: Ozkhan on June 20, 2018, 11:28:33 PM

Overkill.

No. It's overkill if you don't refine your questions. If you ask too vaguely, you'll get much more info than you may need.
Do you know how banks send the money internally, how they store them, how your VISA card communicates with the bank when inserted into a PoS? I guess not. Then why you try to focus on all the details for Bitcoin?

You need to understand a small number of things:
1. Wallet safety and computer safety.
2. How to look onto a website to check if the fee you choose is right.
3. Install and run a simple wallet, like Electrum, how to send and receive.
4. [Maybe] How to check on a 3rd party website if a transaction was sent and confirmed.

This means that you need some 15 minutes to pay attention.

Before use the bitcoin lean the information and process. Then easy to use. If don't know any information. It nof easy to use. It digital currency. So it safely use the bitcoin. It good future saving. So don't want the coin. So lean the information of the coin. If need for more information check the market place and coin disk. Then get more information day by day. So time is important of all process. So time to buy and sell it.

NeuroticFish

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Quote from: Ozkhan on June 20, 2018, 11:28:33 PM

Overkill.

No. It's overkill if you don't refine your questions. If you ask too vaguely, you'll get much more info than you may need.
Do you know how banks send the money internally, how they store them, how your VISA card communicates with the bank when inserted into a PoS? I guess not. Then why you try to focus on all the details for Bitcoin?

You need to understand a small number of things:
1. Wallet safety and computer safety.
2. How to look onto a website to check if the fee you choose is right.
3. Install and run a simple wallet, like Electrum, how to send and receive.
4. [Maybe] How to check on a 3rd party website if a transaction was sent and confirmed.

This means that you need some 15 minutes to pay attention.

Topic: Why is Bitcoin difficult to understand? - page 22. (Read 2150 times)