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Author Topic: Why is Bitcoin difficult to understand?  (Read 1459 times)
anume123
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June 27, 2018, 01:39:33 AM
 #261


During my time of bitcoin for almost three years I've got much to understand about it but I think you just need to read it in the forum and you will learn more about rules and how to earn tokens to become a money.

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June 27, 2018, 01:45:16 AM
 #262

Bitcoin makes the swimmers because bitcoin is the advent of modern digital technology that fits into the same investment market as investing in the real estate market but they are more modern
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June 27, 2018, 01:45:43 AM
 #263

Bitcoin is harder to understand because most people don't grow up knowing "where money comes from" or the politics involved in creating money.

Unless someone is willing to actually understand that, they won't "get" bitcoin or what problems it is solving.

Then you have different economies around the world that want to make bitcoin "work" within their current economy and financial systems easily. This is where the local media helps the governments, that don't want their citizens controlling their own money, believe that bitcoin is a scam.

If people just stuck to the basics with others when they don't know about bitcoin... stop talking about the price, it would be much easier for everyone. The non-believers don't NEED to believe in or buy bitcoin, if they want to know WHY some countries and some people see value in bitcoin then that is all they NEED to know when discussing bitcoin.

The world will catch up eventually, all the noise before the masses adopt is just a waste of time.

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June 27, 2018, 01:46:51 AM
 #264

Everything becomes easier if we put the time to study and to learn, like in Bitcoin before investing we need to have an idea of what it is. 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.
Yes I would also think that to understand the bitcoin is nkt a difficult task, first do the ground work means elementary study of bitcoin is necessary, once if we go through that then it would be easy to understand and also to follow the bitcoin and many are successful by doing so.

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appleyard
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June 27, 2018, 01:48:42 AM
 #265

There are so many articles blogs and short books that, We may use to help us explain bitcoin to an average person who dont have technical knowledge. The key for the explanation here is the fast and easy to use then explain to them how it works, this will help them to gain interest to bitcoin. Showing a short film or video about bitcoin will help too.

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June 27, 2018, 01:50:42 AM
 #266

It is not so difficult for me when i start and heard bitcoin. if you want to learn something you just google it and read many articles of it.
Just like bitcoin, read more articles about it while learning, it just takes time to learn step by step, you will learn by your experience.
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June 27, 2018, 01:50:55 AM
 #267

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 difficult to understand specially if your mind is not open in business. If you have a stand that earning money online is impossible. But if you really want to earn more money, just need to trust the one who told you about bitcoin or teach you. And you need to seek more information about it and you will saw many evidences saying that bitcoin is legit and you can earn money using it.

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June 27, 2018, 01:54:17 AM
 #268

Yes this is right i tried to explain it to my family and friends, they are just laughing, they say that why we need that bicoin if we have an online banking and paypal payments. An they also arguing why that bitcoin has so many digits. My friend say that "Bitcoin is use in online scam and criminality so stay away from bitcoin".  

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June 27, 2018, 02:21:17 AM
 #269

BTC is fictitious data, but the market value of BTC is very high, many people think BTC is a ponzi scheme, they are not willing to buy BTC directly.
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June 27, 2018, 05:16:39 AM
 #270

maybe this is because bitcoin is a digital currency and a lot of people who only understand the currency that has a physical and not too meamhami digital currency like bitcoin is probably due to lack of technology they learn.

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June 27, 2018, 05:40:23 AM
 #271

indeed not many people who know this technology, it makes bitcoin as a digital currency is very difficult to understand. some beginners must be confused with the workings of bitcoins that have this great technology, but this is part of the development of the times, certainly in the next few years will all recognize the existence of bitcoin.
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June 27, 2018, 05:43:24 AM
 #272

bitcoin is difficult to understand. because, the way its work is not from the application. but from google.untuk learn nya.harus be patient and need time.
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June 27, 2018, 05:43:41 AM
 #273

Some people cannot understand bitcoin immediately because they already have and create their own understanding by those people who are spreading false information about it so they easily judge it.

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June 27, 2018, 05:50:02 AM
 #274

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.
Very true. You forgot to mention that people can't understand bitcoin because they do not want to. They think that bitcoin is a scam and they close their minds for new opportunities containing knowledge. But, the truth is, the money game in this world is constantly changing and the ones who will be rich are the ones who can constantly adapt.

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June 27, 2018, 05:53:56 AM
 #275

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.
Very true. You forgot to mention that people can't understand bitcoin because they do not want to. They think that bitcoin is a scam and they close their minds for new opportunities containing knowledge. But, the truth is, the money game in this world is constantly changing and the ones who will be rich are the ones who can constantly adapt.
maybe the bitcoin ia difficult to understand for those who have an closemind. you will need an openminded to understand bitcoin. also you must have an knowledge in the internet or online world. also, if you are not ready to take a risk then you can't be here. the price Is fluctuating. you must research about it.


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June 27, 2018, 06:01:31 AM
Merited by borderline (3), alexrossi (2), rattle_rattle (2), Piggy (1)
 #276

I edited a previous post, so I am posting again:

Bitcoin is a very difficult subject to explain and generally speaking when telling people about bitcoin the bubble/ponzi scheme/fraud reply is the easiest answer of objection.
I thought about that and came out this happens for at least three reasons (or a combination of those):
1. You are not good at explaining
2. The subject (bitcoin) is a very difficult topic
3. The person you are addressing to has to be open to explain action about the difficult subject.

1. You are bad at explaining.
Bitcoin is a complicated subject so, as Latin used to say, you first have to have a good understanding of it in order to explain effectively, this is difficult (point 2).
It’s 2018, and you don’t need to be a very good explainer, but you can address your counterpart to a good plethora of resources: videos first of all from A.Antonoupolous, or the website from Jameson Lopp (https://lopp.net/bitcoin.html) or even a few twitter account.
Now I am getting better, and the more I try the more effectively I can answer the easiest, and more common, objection to Bitcoin.

2.Bitcoin is a difficult subject because it is something at the intersection of four very different topics:

1. Monetary theory
2. Game Theory
3. Distributed computing
4. Cryptography

I thin a dozen people can understand the 4 topics with the full required details, a hundred 3 out of four, a few thousands two, and manw thousands just one of the four.
Note that each field is necessary fo fully understand bitcoin, and the lack of each of them deeply change the matter.
Of course say I am a cryptographer: I will tend to interpret bitcoin in a very different manner than an Austrian Monethariss, being the opbject exactely the same.
So, Bitcoin is difficult because it IS difficult, actually one of the most difficult topics right now (that's why i think there is a so high concentration of brain power, money, and efforts pouring in this industry).

3. There are people that are in a set of mind that will never understand Bitcoin, or they won’t accept any explaination about it.
Take Nouriel Roubini, he’s a supposedly very intelligent person, but badly reacts to every bitcoin news. I don’t know what happened in the past, but he’s blindly and stupidly against it. Bitcoin is a difficult matter, so for the persons not really willing to understand and adopting an open mind approach to the subject: staying in the ponzi/fraud/bubble position is a very easy and convenient position, as it doesn’t require any intellectual effort.

My two cents,
Filippone




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June 27, 2018, 06:01:46 AM
 #277

Bitcoin is difficult for those who are trying to find something unusual in it. In fact, BTC is just as simple as the market for ordinary fiat money. there is no control center - I do not agree with this statement, how can you explain its behavior, controlled drop and controlled growth? everything has levers of control and somebody pulls at them.
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June 27, 2018, 06:03:26 AM
 #278

Becouse its new every new thing goes through this ,it was with internet ,electronic money and others and its happens becouse some countries dont like it and ban so people start to deny to.

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Serious475
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June 27, 2018, 06:10:23 AM
 #279

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 agree. It is really hard to understand the concept of Bitcoin. By joining this forum and by researching on the internet, I guess you can earn an adequate knowledge about Bitcoin. Bitcoin is a new discovery that is why many people are not familiar and difficult to understand it.

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June 27, 2018, 06:17:08 AM
 #280

i don't bitcoin is difficult to understand but i think trading bitcoin that's were the difficulty comes in. bitcoin is jst the name behind the blockchain technology,while block-chain is an online ledger of transactions accessible for all people. i also think if you make research first about blockchain maybe from google or on this thread u'll b able to understan how best this things works. the chain is long cause we also have minners and also these
1. Monetary theory
2. Game Theory
3. Distributed computing
4. Cryptography.     
but the more research u make it'll be easy to say it's not difficult

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