BTC currency unit is too complicated to accepted widely.

[cellard]

nothing about bitcoin is complicated unless you want to make it complicated for yourself. the case of decimals and number of zeros is exactly like the case of saying they don't understand how bitcoin works.

nowadays people don't even want to understand how things work, they are only using them. it is the consumerism at its best and you can't do anything about it. for instance when buying something you don't care if it has no zeros or hundred zeros in front of it, you don't also care how bitcoin works you just point your phone at that picture which you may not even know is called a QR code and click confirm and make the payment. or if you are on PC then you just click on a link and the payment happens after you confirm it in your wallet.

There are already a lot of apps in development for the lightning network, very easy to use wallets in which you scan a QR code and that's all. As a matter of fact someone made a very cool coke dispenser which works on the LN mainnet:

https://www.youtube.com/watch?v=2Fb6Xww2P7c

There's also others with coffee and whatnot.

But the conversation here is the unit of value being too high compared to what people is used to ($1, 1 or whatever local currency you have). And yes people obviously care about number of 0's when buying stuff. This is only solved with time. BTC must become the unit of account so people think in terms of BTC and not in fiat. Until then the price fluctuation will be there. The good news is you can get very rich by holding since it's already a better gold.

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[basyang]

I notice when i explain "what is bitcoin and how bitcoin will become the huge payment system" to my wife(who didnt know anything about bitcoin). Then she states something that i want to share. Its from newbie in cryptos yet experienced in bank economic.

Do you think bitcoin wont be accepted with so many zeros in BTC or satoshi unit? For the price to be used in daily payment. BTC is so complicated to understand widely. Think this with a point of very low degree of education.

I think we need to invent something more stupid-free in btc currency unit.
Kindly share your thoughts. 😊

In my own opinion. There is a point about it's so complicated to understand widely because bitcoin is really broad. Some countries Government are afraid to accept bitcoin because it can be a cause of cyber illegal activities which is they want to avoid. And as of now, I think some Governments wants a centralized to monitor and have a assurance that cryptocurrencies can really help their economy which is true.

[thankyoulord]

i totally agree with you. The bitcoin currency unit is very complicate for most people. They find it very difficult understanding the units when broken down. I remember how difficult it was for me initially but after much study i got to understand it. But not everyone has the patient to do same study to understand the bitcoin units

[teejayrichard2]

the BTC currency unit is indeed complicated especially to the uneducated. it takes time to really understand how the BTC unit works but that doesnt mean people can understand it.

[blueteam09]

the BTC currency unit is indeed complicated especially to the uneducated. it takes time to really understand how the BTC unit works but that doesnt mean people can understand it.

It is really complicated for newcomers to using Bitcoin. But if you are a Bitcoin user, you will feel that Bitcoin currency units are so easy to identify. Everything becomes difficult when you have not touched and used it until you use it.

[dulinivanrus]

I think a large number of zeros is more a plus than a minus. As for me it is convenient but the main problem is the speed of transaction processing.

[nikola22]

the BTC currency unit is indeed complicated especially to the uneducated. it takes time to really understand how the BTC unit works but that doesnt mean people can understand it.

when you pay for something the price may be indicated in USD or other fiat currency and it will be automatically converted to bitcoin so there is no need to have some super skills.

[White Christmas]

the BTC currency unit is indeed complicated especially to the uneducated. it takes time to really understand how the BTC unit works but that doesnt mean people can understand it.

Yes also because not all people knows how it worls and how to earn it. There are many things we need to consider if we really want to make it acceptable all over the world. In fact there are groups and government who are fighting against it and want it to be ban in their county.

[BuyBuyBitcoin]

It's complicated if you believe small payments should be done with bitcoin.

That's your problem. Bitcoin is storing value.

Wait for a 2nd/3rd layer or bitcoin side chain to solve the payments dream.

Early adopters that can't wait for all their needs to be met, can just sell their bitcoin and come back when it's solving their problems.

[JPSelzer]

Yes, bitcoin is quite difficult to understand. But this is not the only problem why many countries do not accept it. Cryptocurrency is not going anywhere in our lives and so soon people will begin to understand it, even those who are not associated with it.

[sammyp]

one can decide to go roughly with the satoshis if the decimal points present a problem for his/her understanding. For instance instead of saying or writing 0.00002300BTC, one can easily say 2300 Satoshis. It’s all about getting the concept that a hundred million Satoshis make one bitcoin.

[Glocalside]

I agree with you about the swimmer's view that in order for it to accept world-wide names, there should be unity among nations but so complex that it is difficult for them to find common ground.

[Finestream]

Yes, bitcoin is quite difficult to understand. But this is not the only problem why many countries do not accept it. Cryptocurrency is not going anywhere in our lives and so soon people will begin to understand it, even those who are not associated with it.

People will come to understand bitcoin if they will start to open their eyes and realize that bitcoin will soon be the currency of the future.If they will take time to learn about bitcoin,then they will truly understand the potentials associated in it.It will only be hard in the beginning,but as soon as mass adoption takes place,truly it will be worth using for.

[owengtam09]

i totally agree with you. The bitcoin currency unit is very complicate for most people. They find it very difficult understanding the units when broken down. I remember how difficult it was for me initially but after much study i got to understand it. But not everyone has the patient to do same study to understand the bitcoin units

I agree, I also use to be like that before when I was a newbie too, it is really hard for me to understand bitcoin at first and we must have a lot of determination and steadfast pursuit for us to understand it widely. The value of bitcoin also now is at the struggling point so I think it will be a hard time for cryptocurrency to recover this year. So I guess most people will not going to get interested with bitcoin now and will not have much time to understand bitcoin as of now.

[Shafiqul Islam]

Yes you are absolutely right because bitcoin acceptance depends on governments issues and banking systems. When governments and banking systems are able to control bitcoin then possibly to accept bitcoin otherwise impossible.

[goldengold5]

The history of Bitcoin is very complex, and it is difficult to become a common currency in the world