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Author Topic: Cryptocurrency is too complicated  (Read 1323 times)
motun01
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March 12, 2019, 02:20:05 PM
 #1

Centralized financial companies are constantly working on solutions to make transactions between different parties as easy as possible, however, the cryptocurrency and blockchain payment solutions are very complicated for the average person to use.
Until this is put in check, cryptocurrency payments will never have a chance to overcome fist.

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March 12, 2019, 02:34:38 PM
Last edit: April 01, 2019, 02:09:26 AM by minersday
Merited by tk808 (1)
 #2

Cryptocurrency and blockchain are the easiest financial tool the world have ever seen. How can a peer to peer system and a decentralized platform be complicated? With centralized financial institutions, there are limitation in how the transactions can be done and the account of money used for the transaction. I advise you spend some time to read more about cryptocurrency and blockchain and you will appreciate the simplicity of its transactions.


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March 12, 2019, 04:00:22 PM
 #3

No, it is not that complicated like what you said. How can be a peer to peer transaction be complicated for an average person to use? Cryptocurrency payments doesn't have to overcome anything, the banks are the ones who have been thinking that its a threat to them because they can see its potential once the people understands the power of decentralization. Traditional payment systems requires you to go through different parties (3rd) unlike crypto's, you'll pay someone directly without going through any 3rd party/bank.

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March 12, 2019, 04:06:05 PM
 #4

Centralized financial companies are constantly working on solutions to make transactions between different parties as easy as possible, however, the cryptocurrency and blockchain payment solutions are very complicated for the average person to use.
Until this is put in check, cryptocurrency payments will never have a chance to overcome fist.
yes, I think there must be an update for crypto transactions so that mutual benefits between one party and another. many complain about expensive transactions and not worth the benefits.
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March 12, 2019, 04:13:58 PM
 #5

Centralized financial companies are constantly working on solutions to make transactions between different parties as easy as possible, however, the cryptocurrency and blockchain payment solutions are very complicated for the average person to use.
Until this is put in check, cryptocurrency payments will never have a chance to overcome fist.

Actually I think that your information is greatly outdated. There were done great improvements in the crypto payment methods too and the things are still evolving.
I mean you can already just open your wallet, scan a code and enter your password/pin/safety thing in your wallet. Not much different from paying in Europe with your card.

What we actually need are ways to pay directly with crypto. That's a field that needs to grow. We need more payment processors work with/accept crypto currencies.
Also EU just made a new report where they advise (and help with grants) the development of blockchain solutions and blockchain based payments. They may have meant new cryptos, but I don't see why the existing ones cannot be used.

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March 12, 2019, 04:17:06 PM
 #6

Why do you think crypto-currency is too complicated? I think you have not enough knowledge about cryptography and decentralization. It's true whoever don't know about crypto-currency it's complicated for him. You have to learn first before use this. Can you imagine how easy become money transfer everywhere you want. No need any third party and fully decentralization. That's why we need share each other about crypto-currency.

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March 12, 2019, 04:17:40 PM
 #7

I doubt that every person at the moment understands how electronic payments go through the banking system! And I don’t understand why people need to understand the technical side of this process! We drive cars, use smartphones, computers, but few understand how they work! We only know that it is convenient and fast!

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March 12, 2019, 04:17:47 PM
Merited by tk808 (1)
 #8

When the internet started, it remained in the domain of academics and scientists for over a decade. It become mainstream after Netscape launched the first browser and started the www revolution. Cryptos are still in early stages and next few years are going to see all kind of new user interfaces to make mass adoption possible.
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March 12, 2019, 04:28:03 PM
 #9

I do not think it might be a reason not to use blockchain and crypto. If there are seminars about this, why would noone know?  If there are problems with addresses, it is possible to write names instead of addresses in most exchanges and blockchain. Also, if accepted, you will not need to exchange crypto to fiat, and it will be very easy.

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March 12, 2019, 04:28:31 PM
 #10

The only people who would see blockchain transactions as complicated are those who don't like learning. I used just one day to explain the processes to my girlfriend and she was able to understand and start blockchain transactions from there.

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March 12, 2019, 04:33:07 PM
 #11

There are series of reasons that could cause your investment into loose, which might be from: lack of research into that cryptocurrency you invested in, lack of market strategy in cryptocurrency investment and above all, being a panic cryptocurrency investor. These were my weakness when i was new into the world of cryptocurrency but happy that am through from all odds, came out victorious and winning  in cryptocurrency.

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March 12, 2019, 04:38:27 PM
 #12

It really is not easy, but it is not. But after all, they have a lot of things simple, if you try to put everything on the shelves, you will understand what I'm talking about. It seems to me that now there are so many guides where you can deal with this.
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March 12, 2019, 04:48:14 PM
 #13

The only people who would see blockchain transactions as complicated are those who don't like learning. I used just one day to explain the processes to my girlfriend and she was able to understand and start blockchain transactions from there.
And perhaps that's the reason why OP said that cryptocurrency is complicated because OP did not have enough knowledge on crypto or a blockchain technology on how to works. Blockchain technology is not as complicated as what I have understood because it has transparency in every transaction has.

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March 12, 2019, 04:58:06 PM
 #14

The only people who would see blockchain transactions as complicated are those who don't like learning. I used just one day to explain the processes to my girlfriend and she was able to understand and start blockchain transactions from there.

Agree, learning is the solution toward your understanding of the Blockchain transactions which without will be more complicated than OP. Before i came into the ethnology, it took me finance to bu more books that talked about the technology before swinging into it, to avoid discouragement. Caution: Ensure you get the appropriate books for the technology or google some articles concerning the technology to equip your self with to avoid discouragement.   

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March 12, 2019, 05:33:38 PM
 #15

Centralized financial companies are constantly working on solutions to make transactions between different parties as easy as possible, however, the cryptocurrency and blockchain payment solutions are very complicated for the average person to use.
Until this is put in check, cryptocurrency payments will never have a chance to overcome fist.
i think you are right, crypto transactions nowadays are very complicated, especially waiting time for confirmations, most of cryptocurrencies are taking so much time to complete a transaction, so unless we can finish this problem, we will not be able to use cryptos in daily life soon.

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March 13, 2019, 05:06:46 AM
 #16

You are right, but many apps and services (especially on ETH) appeared on mobile devices and desktop, which are pretty simple. But it's not enough and I hope we will see a lot of new interesting and user friendly casual services.
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March 13, 2019, 05:11:59 AM
 #17

The technical solution behind cryptocurrencies is way easier and uncomplicated as eg. SWIFT. But you are right, the handling for the average user is still too complicated. Additionally, such users trust their bank and thats it, they would never use CC platforms to send money

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March 13, 2019, 05:24:35 AM
 #18

The only people who would see blockchain transactions as complicated are those who don't like learning. I used just one day to explain the processes to my girlfriend and she was able to understand and start blockchain transactions from there.
But there are many such people.
It is therefore very momentous
When the internet started, it remained in the domain of academics and scientists for over a decade. It become mainstream after Netscape launched the first browser and started the www revolution. Cryptos are still in early stages and next few years are going to see all kind of new user interfaces to make mass adoption possible.
And, of course, people have to find out how good it is compared to using centralized services.

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March 13, 2019, 05:26:08 AM
 #19

We do not need to understand how blockchain technology works in order to use Cryptocurrency payments, simplicity, reliability, convenience, stability should appear. Therefore, I support programs aimed at these goals.

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March 13, 2019, 05:46:20 AM
 #20

... are very complicated for the average person to use.

you are mostly wrong.
i say mostly because part of it is true, all the altcoins are very hard to use for average person because none of them has ever focused on usability, and they have all put all their efforts and focus on pumpability so that they can make the most amount of profit.

but when you speak in general you are also including bitcoin and bitcoin is not hard to "use" it is instead hard to "understand" like everything else! nowadays with all the services and the infrastructure built on top of bitcoin it is super easy even for the elderly to use bitcoin.

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