[2019-09-10] CNBC’s Ran NeuNer Nails One of Crypto’s Biggest Flaws

[DooMAD]

If a lay person just goes to Bitpay and Coinbase using their custodian service then the explanation of bitcoin to him are totally nothing.
 
After being fucked by those centralised 3rd parties, he may even claim what you said about Bitcoin are totally lies.

That does raise a valid point.  There are definitely people, blogs and websites talking about "being your own bank", but then somehow managing to finish the explanation with a link to Coinbase or whatever.  It doesn't quite follow rationally.  I always tried to refer people to localbitcoins where possible, as it's at least a little closer to Bitcoin's ethos compared to conventional custodial exchanges.

[1714952291]

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[lionheart78]

Well if Neuner is trying to explain the whole of BTC (technically), an hour or even a day is not enough.  Even a week won't suffice.  But if we are to explain the basic of BTC such as creating wallet, sending transactions and receiving, it will take less than an hour for the person to know it.  Of course if we explain it to those who have no foundation about internet and its technology, it will take more time.  But to those with internet knowledge, it is just a piece of cake to explain the basic of BTC.

[bitsurfer2014]

His situation is quite synonymous on previous two decades advent of mobile technology revolution where it seems its very difficult to explain

mobile technology such as Symbian and Android terms to ordinary folks but look at us now, almost everybody had embraced the technology,

and we only need some trailblazers in the industry and everybody will follow suit. But I admit it will take some time to do it. Imho.

[Sexaphiliac]

He could be more spot on. It's difficult to get individuals to understand what bitcoin, cryptocurrency and blockhain technology is all about; even educated folks. Conveyance is a major issues with many seeing it as a get rick quick scheme(some advanced ponzi). Well its only a matter of time before people begin to realize that they should educate themselves on block chain technology.

[bbc.reporter]

It all boils down to this:

How much knowledge do you need?

If you can explain to someone how to send and receive a Bitcoin transaction, then they already know as much as they do about fiat.  That gets us about halfway there.  Then you have to explain security, backups and personal responsibility, which might take a bit longer.  Emphasise the part about how there's no one who can intervene to cancel or refund a transaction for them and you're pretty much done.

How is any of that difficult to explain?

Agreed. It is similar to saying that people should be careful on taking loans from banks because the fractional banking system takes more than 1 hour to explain.

However, people should be careful taking loans from banks because of the fractional banking system heheheeh.

[Initscri]

So, ask yourself this question... does the average person on the street know how the Fiat system work? People I have spoken too, still thought that every Dollar bill was backed by Gold and that Gold gave Fiat currencies it's value. They still used Fiat currencies, even if they did not know how it worked and after I told them that it was not backed by Gold, they continued using it. <People simply do not care, they just want it to work> 

Let's take it one step further, do people know how governments and Banks are manipulating Fiat currency value? Do they know how the value of their Fiat currency is dropping over time? <buying power> 

I can't agree w/ this more. You honestly do not need a 100% top-down knowledge of bitcoin in order to use it. You really only need to know the basics, and at the end of the day, with the amount of tools available for Bitcoin, Bitcoin is as easy to use as online banking.

[dessyhodin97]

schools can step up their game by advancing their curriculum, teaching students how cryptocurrency affects the world positively and how they can benefit from it

[Ucy]

Bitcoin is simply a community-driven decentralized currency. It's censorship-resistant, regulated by math, can be used without the middle-man, can be safely held by the owner as long as possible. There is really nothing difficult in explaining Bitcoin to a lay person if you understand the idea behind it well.