Topic: Why is Bitcoin difficult to understand? - page 4. (Read 2150 times)
Since the common currency that an average person used is the money in paper (depending on the country). Some people may hard to comprehend the currency that don't have physical form, in addition you have to be familiar on computer or any gadget to use bitcoin. For some people this will be a pain on the ass that will result them to give up
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.
In the role of the central regulatory body are Bitcoin whales, which can manipulate its value in not large limits, but this is enough for them to make a profit. 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.
If you think that bitcoin is not safe if used as currency because bitcoin does not have a central setting, maybe you should go back to a stone age that can only make payments with barter.
You say it as if you cornered bitcoin and say that bitcoin is not much better than paper money.
Can you think of the banknotes we use every day, and credit cards are worthless things that are conjured up by the bank used to deceive us. Do you know banks prefer to hoard our money with gold, and banks never run out of gold reserves.
You say it as if you cornered bitcoin and say that bitcoin is not much better than paper money.
Can you think of the banknotes we use every day, and credit cards are worthless things that are conjured up by the bank used to deceive us. Do you know banks prefer to hoard our money with gold, and banks never run out of gold reserves.
What's so diffucult to understand? Bitcoins are technically money we own totally and we have the freedom to use it anytime without having to worry about banks looking at our accounts and we can send any value any time. Bitcoins are decentralized and convenient.
Every new concept for people is definitely difficult. If you a person is willing to learn and give time to understand a thing like bitcoin, he/she will soon understand the concept behind the technoclogy that it offer and will soon have a deeper realization on the said technology. In short, it is up to a person whether it can be difficult or not. Also, you have to be interested in it in order for you ti easily adapt the terminologies behing bitcoin and how it works.
Yes maybe bitcoin is difficult to understand but I think it depends if which people would study in this technology, like if you are not really focus in searching about crypto this will be hard for you and if you are fast learner and give passions in doing bitcoin, you will understand btc easily.
At first glance it was a bit difficult for me to understand but after being involved for a little over a year I understand it completely and it is not difficult at all to understand, some of my friends still don't get it but they just see it and it seems too complicated for them to even try to understand but I know if they tried it would not be a problem for them. Although the only people I think will truly have difficulty understanding it is the older generation that hasn't grown up with computers and what not.
Base on my research, if you look at the currency it is difficult for an average person to understand it because it is different. Bitcoin is very volatile and you have to abalyze the market very carefully. Bitcoin is difficult to understand becauseit increases erratic fluctuation at a certain price
actually nothing is difficult to understand whatever it is its form including bitcoin, it all depends on our willingness to learn to understand it seriously
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/
Well its not actually difficult to understand , if youre really determined to learn bitcoin you will add an effort to understand it yourself. You can search for some information in google, watch some videos in youtube.
That`s because it`s a new concept. People of today are not surprised by electricity because they use it every day for a long time. Despite that, not many people understand fundamentals of electricity(or another example). I think for next-generation bitcoin won`t be difficult to understand.
i dont think that bitcoin is difficult to understand, because there is a lot of source information in the internet to learn evrything about bitcoin if you want to learn about bitcoin this forum is the best way to understand Bitcoin .
There is no difficult if that person is willing to learn things. Only lazy people think it is hard because they do not want to put any effort to understand though all information's provided in the internet. You have to find to understand the basic first before you deep in about crypto because some are complicated but can be understand when you want too. Bitcoin is very volatile and you have to analyze the market very carefully. 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.
Bitcoin had a simple concept which is “the ease access of exchanges”. The key element to understand bitcoin is to know the reason behind its existence. However, it is not as easy as we thought. It comprises of complicated and complex process which some of them infer difficulties. Since, people tend to think as difficult then they can `t able to distinguish right versus wrong. Some decisions might create negative effect and in result loss on investments. In contrary, the key element which is important for better investments has nothing to do with them but with you.
Well, I guess, bitcoin it really is hard to understand because maybe you and me, or maybe the majority of people worldwide, don’t understand the concept of money in general.
BTC is difficult to understand and has little to do with traditional knowledge!
To understand Bitcoin you need the following introductory knowledge:
Mathematical principle
Probability Theory and Mathematical Statistics
Computer hardware and software knowledge
Cryptography knowledge
At least one programming language
To understand Bitcoin you need the following introductory knowledge:
Mathematical principle
Probability Theory and Mathematical Statistics
Computer hardware and software knowledge
Cryptography knowledge
At least one programming language
well i think bitcoin is not difficult to understand one should try to understand anything you found difficult can ask question every individual is so helpfull and ready to answer also one who have a to wish to understan will get it and It's not difficult to understand because there are so many ways to get on it like viewing on youtube, searching google what is bitcoin and how it works. But its really true, I read some comments that bitcoin is not for all mostly for those negative mind.
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.
I don't really see bitcoin as a thing that is hard to understand its just people don't want accept bitcoin so they only say that they hardly understand what bitcoin is. But if you think that bitcoin is hard to understand in the first place you will surely having a hard time to accept it 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 difficult to understand because it increases erratic fluctuations at a certain price
Bitcoin may be difficult to understand especially to the layman. If you consider it as a means of exchange, you may not need to ask too many vague questions, just the same way you have not bothered to ask how your fiat currencies are been made or printed. The issue as to the codes driving the blockchain whose Bitcoin is built should be left to the developers just as you would leave the issue of how your money is being printed to the Treasury.
in my opinion, there is nothing complicated in bitcoin, bitcoin science is rather difficult to explain to people who are not interested in technology, only we think that bitcoin is complicated and actually bitcoin is not complicated. actually how we understand the concept of bitcoin then we will understand Bitcoin.
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