for the end user who wants to use bitcoin as a currency it is not at all difficult specially these days that there are lots of options to use as your wallet. maybe in 2009 things were complicated because you had one option and that was running a full node which could also mine for you but today you just choose a wallet and put the amount to pay in the respective field and click send. it is that simple! with web wallets, Coinbase, SPV wallets,... things are easy.
what you are pointing out is understanding things you don't need to know in order to use bitcoin. it is optional to learn and will help you know the technology. and that is not a problem with bitcoin you will face the same challenge if you try and understand any other technology like how does your smart phone work?
Topic: Why is Bitcoin difficult to understand? - page 23. (Read 2150 times)
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.
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 !
bitcoin difficult to understand because the bitcoin coin is first digital currency and most probably human not understand .and if you really want to know so go on youtube ....there have more videos of bitcoin.
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
Its not that difficult. bitcoin is plain and simple.
Bitcoin is the name of the token created under his block - chain
Block - chain is the name of the technology used to store transaction data of all bitcoin tokens.
In short, block-chain is an online ledger of transactions accessible for all people. It is irreversible.
Bitcoin is the name of the token created under his block - chain
Block - chain is the name of the technology used to store transaction data of all bitcoin tokens.
In short, block-chain is an online ledger of transactions accessible for all people. It is irreversible.
There are lots of short length videos on youtube to understand Bitcoin in very easy ways. People should use google a little. Also, sites like this one provides very informative how-to and guides https://www.bitcoinmarketinsider.com/what-is-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.
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