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Author Topic: Are we over complicating Bitcoin?  (Read 6578 times)
bet101
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July 16, 2017, 03:33:36 AM
 #41

Our standard answer to people saying that Bitcoin is too complicated used to be, " Bank customers do not need to know how the internet ledgers of a bank work, to use their service " but now with the introduction of things like UASF people have to approach their merchants and exchanges and services to figure out what services will be safe to use, depending on what route those services will be going with this scaling option.

Are we over complicating Bitcoin for non-technical users of this technology? < They have no clue what chain split and soft forks are, and should they be that involved? >

Our goal should be to make it very simple for Granny to understand and to grow adoption. ^hmmmmmm^

Imagine if the reserve bank issued 2 different types of $1 notes and one type of note was accepted at specific merchants and not at other. This will create a lot of confusion with the general public.

Example : https://www.reddit.com/r/Bitcoin/comments/6e25yx/im_investing_on_bitcoin_for_some_time_but_what/

I do agree with your comment, but i do also know that many people out there are really interested in knowing how bitcoin works and whats behind this so called new technology for the common person.
The question is if there is a way to simplify the way people will understand the whole tech, most people only hear about the gains other people made with bitcoin but they are still completely unfamiliar with it.

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July 16, 2017, 06:26:24 PM
 #42


The basic ideas behind cryptocurrency are not that difficult to
understand by non-technical people, although it demands a kind
of change of thinking to let it truly sink in.

I think we are in the early days and Bitcoin is just an opening
shot for the evolution. We'll have second generation of cryptos
that are much more simpler, more anonymous and more scalable.

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July 16, 2017, 10:15:12 PM
 #43

I think we are in the early days and Bitcoin is just an opening
shot for the evolution. We'll have second generation of cryptos
that are much more simpler, more anonymous and more scalable.

That would be incredibly nice, but I'm afraid that simplicity / anonymity / scalability will be at odds with each other for a pretty long time, especially when combined with decentralization / trustlessness / security. It already took a paradigm shift to bring the latter 3 together, not sure what it will take for the next step to occur.

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July 17, 2017, 06:47:14 AM
 #44

Well, there will always be a technical aspect to Bitcoin. However, on just the consumer side, it is a simplified version of Bitcoin. You do not necessarily need to have a huge amount of knowledge to be able to use bitcoin as a transaction method. Just send and receive through wallets such as coinbase or blockchain. They simplify the whole network down enough to an easily understandable level.

I do not think that we are over complicating bitcoin as there are a large amount of people that want to know about the blockchain network and how that works. As the popularity is increasing, so will its knowledge. Cryptocurrencies will be the future, so it makes sense for people to learn about it at an 'early' stage.
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July 17, 2017, 11:05:08 AM
 #45

BTC first of all we must known that to create our wallet and which coin is wanted to invest and which is store in their wallet.some non technical users of bitcoin technology they are create their state more complicated.BTC

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July 17, 2017, 01:21:58 PM
 #46

I think the services will make it less complicated. The exchanges has already said that most of them will support both the legacy coins and the

new BIP148 coins, if there are a Coin split. {Well most of them} I think the choice and decision making will be a bit tricky for the users, but once

this has been implemented for a while, things will become more familiar. There is always a bit of a learning curve with new ideas.  Roll Eyes

The current situation is nothing short of a mess, but it's an uncommon situation. And not only you have to deal with potential BIP148 coins, but potential segwit2x coins... this is just nuts. We need to get rid of the current situation and congregate in only one bitcoin or else people are going to get tired and dump. Nobody wants to deal with several tokens.

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July 17, 2017, 02:54:43 PM
 #47

I think we are in the early days and Bitcoin is just an opening
shot for the evolution. We'll have second generation of cryptos
that are much more simpler, more anonymous and more scalable.

That would be incredibly nice, but I'm afraid that simplicity / anonymity / scalability will be at odds with each other for a pretty long time, especially when combined with decentralization / trustlessness / security. It already took a paradigm shift to bring the latter 3 together, not sure what it will take for the next step to occur.

Have a look at this.

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July 17, 2017, 04:45:17 PM
 #48

I think the services will make it less complicated. The exchanges has already said that most of them will support both the legacy coins and the

new BIP148 coins, if there are a Coin split. {Well most of them} I think the choice and decision making will be a bit tricky for the users, but once

this has been implemented for a while, things will become more familiar. There is always a bit of a learning curve with new ideas.  Roll Eyes

The current situation is nothing short of a mess, but it's an uncommon situation. And not only you have to deal with potential BIP148 coins, but potential segwit2x coins... this is just nuts. We need to get rid of the current situation and congregate in only one bitcoin or else people are going to get tired and dump. Nobody wants to deal with several tokens.

Agreed, but Segwit2x is looking pretty strong at the moment. If this trend continues, we will not have much of a decision. I guess the majority has

already spoken and people will just follow the longest chain. In many instances, we worry about things that never happens, but we prepare for it in

any way. { Take insurance as an example - Most of the stuff you pay for never happens, but when it happens you are covered. }  Wink

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July 17, 2017, 05:09:03 PM
 #49

not really Cry Cry

You are like that not me every person has his own way.

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July 17, 2017, 05:56:17 PM
 #50

Same is the problem here with me and many others who got in investors into bitcoins as mediators.
The people who bought in at $2500 because of me, are now asking as to why is this bitcoin getting doomed without any specific reasons. They just googled out and found about segwit2x as well as chain split and soft forks and they even tried to understand the terms but unable to, so they came to me asking about the same as to what is all this about? I tried my best to make them understand but even I was not capable to catch their attention to it and they went off asking me to give them a deadline that till when will bitcoins be back at those prices again. They think I cheated them, but I thought that prices might touch 4k USD based on the scalability issues' news which were coming as resolved few days back. This is not going to be easy and need to wait with fingers crossed and see what happens this August.

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July 17, 2017, 08:36:38 PM
 #51

I think bitcoin was born beautiful and difficult to use for over 80% of the people.
To average person the biggest complication comes when they want to transfer a fraction of bitcoin.
People are used with un divisible units of fiat, the smallest 1/100(cent) Now inagine you ask them to send you 0.000974123 Btc. I am saying this because I tried to convince someone to use btc. He couldn’t get it, let alone volatility
Could we have a wallet were it shows and send/receive satoshies. it will be good for the eye too.

https://deeponion.org/apply TOR Integrated Crypto
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July 17, 2017, 10:50:33 PM
 #52

I think we are in the early days and Bitcoin is just an opening
shot for the evolution. We'll have second generation of cryptos
that are much more simpler, more anonymous and more scalable.

That would be incredibly nice, but I'm afraid that simplicity / anonymity / scalability will be at odds with each other for a pretty long time, especially when combined with decentralization / trustlessness / security. It already took a paradigm shift to bring the latter 3 together, not sure what it will take for the next step to occur.

Have a look at this.

That's... surprisingly concise. Thanks for the link! It raises some questions (or rather I still need to wrap my head around cut-through blocks) but seeing how there's a concrete implementation in the works you just gave me a new rabbit hole to dive into.


I think bitcoin was born beautiful and difficult to use for over 80% of the people.
To average person the biggest complication comes when they want to transfer a fraction of bitcoin.
People are used with un divisible units of fiat, the smallest 1/100(cent) Now inagine you ask them to send you 0.000974123 Btc. I am saying this because I tried to convince someone to use btc. He couldn’t get it, let alone volatility
Could we have a wallet were it shows and send/receive satoshies. it will be good for the eye too.


Umm... you can actually do that already. Bitcoin Core: Settings > Options > Display > Unit to show amounts in: BTC / mBTC / μBTC

I'm pretty sure most other modern software and hardware wallets have similar settings available.

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July 18, 2017, 12:00:32 AM
 #53

I think a lot of people are saying it's too hard to know that it is a lie and I am one of the people who answered the bitcoin it is true.

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July 18, 2017, 05:25:32 AM
 #54

Same is the problem here with me and many others who got in investors into bitcoins as mediators.
The people who bought in at $2500 because of me, are now asking as to why is this bitcoin getting doomed without any specific reasons. They just googled out and found about segwit2x as well as chain split and soft forks and they even tried to understand the terms but unable to, so they came to me asking about the same as to what is all this about? I tried my best to make them understand but even I was not capable to catch their attention to it and they went off asking me to give them a deadline that till when will bitcoins be back at those prices again. They think I cheated them, but I thought that prices might touch 4k USD based on the scalability issues' news which were coming as resolved few days back. This is not going to be easy and need to wait with fingers crossed and see what happens this August.

A large percentage of Bitcoin buyers and holders can be feeling the same thing now that we are in the "chaotic" stage of Bitcoin...when the scaling solution will soon be implemented. It is not helping that many news about the possible split are mostly geared to people who have already the basic understanding about all of these technical jargon bombarding us everyday.

Personally, there are so many things I also don't get fully that is why I just prefer to have a watch and see attitude regarding the August 1 deadline. I would accept whatever that can come out from this whole Bitcoin adventure. If there is one thing I am hoping for it is that possibility that after August 1 and when the dust has already settled Bitcoin can get back to the growth track.

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July 18, 2017, 09:50:32 AM
 #55

I think we are in the early days and Bitcoin is just an opening
shot for the evolution. We'll have second generation of cryptos
that are much more simpler, more anonymous and more scalable.

That would be incredibly nice, but I'm afraid that simplicity / anonymity / scalability will be at odds with each other for a pretty long time, especially when combined with decentralization / trustlessness / security. It already took a paradigm shift to bring the latter 3 together, not sure what it will take for the next step to occur.

Have a look at this.

That's... surprisingly concise. Thanks for the link! It raises some questions (or rather I still need to wrap my head around cut-through blocks) but seeing how there's a concrete implementation in the works you just gave me a new rabbit hole to dive into.


I think bitcoin was born beautiful and difficult to use for over 80% of the people.
To average person the biggest complication comes when they want to transfer a fraction of bitcoin.
People are used with un divisible units of fiat, the smallest 1/100(cent) Now inagine you ask them to send you 0.000974123 Btc. I am saying this because I tried to convince someone to use btc. He couldn’t get it, let alone volatility
Could we have a wallet were it shows and send/receive satoshies. it will be good for the eye too.


Umm... you can actually do that already. Bitcoin Core: Settings > Options > Display > Unit to show amounts in: BTC / mBTC / μBTC

I'm pretty sure most other modern software and hardware wallets have similar settings available.

THANK YOU , I never installed a BTC core, only third parties light wallet due to hardware i got.  And imagine i was trying to teach someone else. But we learn as long as we live .

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July 18, 2017, 01:39:45 PM
 #56

Same is the problem here with me and many others who got in investors into bitcoins as mediators.
The people who bought in at $2500 because of me, are now asking as to why is this bitcoin getting doomed without any specific reasons. They just googled out and found about segwit2x as well as chain split and soft forks and they even tried to understand the terms but unable to, so they came to me asking about the same as to what is all this about? I tried my best to make them understand but even I was not capable to catch their attention to it and they went off asking me to give them a deadline that till when will bitcoins be back at those prices again. They think I cheated them, but I thought that prices might touch 4k USD based on the scalability issues' news which were coming as resolved few days back. This is not going to be easy and need to wait with fingers crossed and see what happens this August.

A large percentage of Bitcoin buyers and holders can be feeling the same thing now that we are in the "chaotic" stage of Bitcoin...when the scaling solution will soon be implemented. It is not helping that many news about the possible split are mostly geared to people who have already the basic understanding about all of these technical jargon bombarding us everyday.

Personally, there are so many things I also don't get fully that is why I just prefer to have a watch and see attitude regarding the August 1 deadline. I would accept whatever that can come out from this whole Bitcoin adventure. If there is one thing I am hoping for it is that possibility that after August 1 and when the dust has already settled Bitcoin can get back to the growth track.

Chaotic? No, it's more dramatic than just creating chaos alone because it's being spread wrongly through the media that Bitcoin could doom till certain levels and even end up. We all know Bitcoin could never die, but the newer the people are regarding it, more scared will they be about the same. And about the dust part, I too think that it is all being done to settle down things as well as the "pump" that took place and took Bitcoins to $3000, but I think we should see not less than 1500 and be back above 2500 (my investors' buy level) at least.

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July 19, 2017, 11:51:37 PM
 #57

I believe so, I believe bitcoin will evolve when it stays as is and survives for a long time
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July 20, 2017, 02:37:49 PM
 #58


That's... surprisingly concise. Thanks for the link! It raises some questions (or rather I still need to wrap my head around cut-through blocks) but seeing how there's a concrete implementation in the works you just gave me a new rabbit hole to dive into.

You're welcome. One voice that gets rarely heard these days
is the one belonging to the people who actually use crypto for purchases.

And the other one is of course, the merchants. We're all waiting
for the p2p e-cash revolution that was foreseen by Satoshi Nakamoto.

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July 20, 2017, 05:04:33 PM
 #59

I think Bitcoin is a great piece of technology that introduced us to Blockchains and we should see it that way, using bitcoin regarding it's limitations is inefficient and eventually the Market will found out about that.

Better that it happens now than Bitcoin actually has adoption.
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July 20, 2017, 06:54:04 PM
 #60

Well, basically everything improvement should be easy to accept as long as it doesn't occur any worries in the users of btc itself.
Is not this still a matter of debate itself.

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