Is Bitcoin too difficult to understand?

[princeyeboah]

The concept underlining the usage of Bitcoin is very fundamental and made in such a way that every one can use it once ready to learn about how it works. Most of the people are not ready to learn and are afraid to venture Bitcoin because they fall as victims to the false news from the governments and media.

[tdmiller4]

I think to the general public, the concept of cryptocurrencies is too hard to understand. However, I think this is due to a lack of quality marketing and attempts by the cryptocurrency players to properly educate the general public. Of course, if people really want to, they can put in their own time to research it, but that doesn't appear to be happening so the responsibility is thrown back to the cryptocurrency companies.

[earlytrade24]

If you rely on academic writings, it can be tough to understand. What helps me is conversation with real people who have experiences with bitcoin. That's the best way to learn in my opinion.

[vamshi789]

I think it is difficult to who are not understanding properly and who are not studied, if we study well there is no need to be fear that it is difficult so research as much as possible it is not difficult.

[feather7789]

if you are wise in technology then it is easy to understand and also if you study the crypto it is very easy to get in. nothing is difficult to understand for man.

[jtrapirap]

If you mean about understanding about the technical aspects about Bitcoin then, this would really be difficult to understand. But if only the basic concept and functions about this new technology then somehow it is understandable. Still its all up to an individual if they want to learn onto something. Even if its hard to understand then they'll find a way to learn it.

[Mikwik]

Well for me, it is not hard and difficult to understand Bitcoin is. Actually, I admit that I find it hard the first I was here in the forum that is only because there is no one that teaches me regarding what crypto currencies are. But as the days goes by, Bitcoin become my friend. I engage to Bitcoin very well up until now. And now, I want people to know that learning and understanding Bitcoin is not that difficult if you are truly interested to it.

[Ayomiqueen]

Definitely many newbies will rethink of how it work and why is it that high in price but definitely the one that what to know and some will not even bother to know but only care about buying and selling to make more money, and I think it is a good thing to really understand what the technology is all about and also the main reason Bitcoin and other cryptocurrency are the way forward.

[Roukawa]

Some beginners are struggling to know the bitcoin profoundly. Some of them does not care of its purpose because they just know that it is a digital currency. For those beginners who have determination to use bitcoin and cryptocurrency as their way of earning probably, study about it deeply. It is not difficult to understand, in fact I learn it only by searching and studying everyday when I began to start in this industry.

[albert11]

So I was watching "The Tonight Show Starring Jimmy Fallon" and I came across a video where Jimmy is talking about Bitcoin's Birthday  " Thank you, Bitcoin for turning 10 years today this week which is the exact amount of time it takes for someone to explain it to me what the hell Bitcoin is".
Also, I know it was meant as a joke but don't you think this explains facts in a humorous way!
I feel like the biggest problem with Bitcoin is the "understanding" of it.
What do you think?
If you want to watch the video, here's the link: https://www.youtube.com/watch?v=i3Hma8DKXS8&t=100s
(0:53----1:07)

Yes, understanding the most difficult thing about bitcoin. Because of the misunderstanding you may lose all your money. So let's study bitcoin well and what it really is. Do not believe in quick income (quick rich scheme)

[lorax__]

I believe it depends on who is asking or trying to understand Bitcoin. There are 2 important things to understand regarding the inner workings of Bitcoin: Blockchain Technology and Cryptography.

There are some great Youtube videos for these topics, including one from Wired where Blockchain is explained to varying levels of knowledge:
https://www.youtube.com/watch?v=hYip_Vuv8J0


In any case, one does not need to fully understand the inner workings of the technology in order to use or trade Bitcoin.

[lorax__]

Bitcoin is such a big book, no one can read it. It has so many puzzles when people are still trying to learn how to understand it. But you may find it difficult to know when Bitcoin is growing, but it is difficult to control it. The government also wants to control it, but it has to be wrong because it can not do it.

I do not consider bitcoin difficult to understand until now I only monitor price movements and then determine the steps to be taken such as buying when the price is red and holding until the price rises then selling. this method that I often use. I am also always patient when prices change.

Interested in hearing what (if any) tracking apps or monitoring websites you all use, thanks!

[Royline]

When I first learned, I found them very difficult with many new terms but gradually I adapted with the help of many people.

[joshv06]

Bitcoin is such a big book, no one can read it. It has so many puzzles when people are still trying to learn how to understand it. But you may find it difficult to know when Bitcoin is growing, but it is difficult to control it. The government also wants to control it, but it has to be wrong because it can not do it.

I do not consider bitcoin difficult to understand until now I only monitor price movements and then determine the steps to be taken such as buying when the price is red and holding until the price rises then selling. this method that I often use. I am also always patient when prices change.

Interested in hearing what (if any) tracking apps or monitoring websites you all use, thanks!

Bitcoin is built on block chain technology and it is bit difficult to understand the functionality for Non-technical people but they can learn the basics of bitcoin which can help them for trading is sufficient. Bitcoin is not only trading and making money from it it has various branches and technical aspect which is bit difficult to understand and we cannot predict anything in bitcoin. Because of the misunderstanding you may lose all your money.

[BitMaxz]

Bitcoin is such a big book, no one can read it. It has so many puzzles when people are still trying to learn how to understand it. But you may find it difficult to know when Bitcoin is growing, but it is difficult to control it. The government also wants to control it, but it has to be wrong because it can not do it.

I do not consider bitcoin difficult to understand until now I only monitor price movements and then determine the steps to be taken such as buying when the price is red and holding until the price rises then selling. this method that I often use. I am also always patient when prices change.

Interested in hearing what (if any) tracking apps or monitoring websites you all use, thanks!

There are many websites that you can track the bitcoin price movement and other cryptocurrencies and some Android apps.

Check this list below.

- http://coinmarketcap.com/
- http://bitcoinwisdom.com/
- http://cryptowat.ch/
- https://bitcointicker.co/

For Android version, you can use these apps below.

- Bitcoin Ticker Widget
- The Crypto Widget App
- CoinMarketApp

[osmo]

bitcoin is indeed difficult to understand, indeed requires a process to learn a new technology called bitcoin. I think you can learn it anywhere because now there is a lot of information on the internet that explains bitcoin. I also continue to teach bitcoin to date.

[messito]

Of course, there are a lot of followers of Bitcoin and even those who bought several coins themselves do not quite understand the essence and purpose of it at all. this is a big problem

[fosco333]

I think we don't need to understand about all the work of bitcoin. Do you think we must understand about the algorithm of bitcoin ?
The value itself show that bitcoin is a valuable currency. What we must understand is why bitcoin value is very expensive.
so we will know if we need to buy bitcoin or not. Understanding difficult things about bitcoin and crypto is only pain yourself.

[akshayp]

Not at all... You need to understand blockchain technology and economic model of the Bitcoin. How does the bitcoin price inflation work? You have to focus on Bitcoin mining algorithm. You will get a rough idea about the bitcoin. Bitcoin is the alternative way of payments mode. In some countries, bitcoin used as a payment method.
 

[Johnzky]

You are right about this mate,i must admit that i have been using this cryptocurrency for a year now as method for payment but the truth is i have no 100% knowledge about what this really are,aside from a virtual currency and function as fiat in some countries nothing others did i know and until now i still figure it out whats the true value of this in the near future