What's the most complicated thing about Bitcoin?

[rdluffy]

The most complicated thing when your enter in crypto world is to understand about security and how to keep your wallet really safe
It's commom to leave the coins in exchanges thinking they are safe, or to enter on a phishing website, or even to send BTC to another adress with some malwares

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[Oni Trading]

Probably cashing out and using it to buy something, which should be a whole point. We dont try to get as much BTC as possible to keep it in our wallets forever.
Still, transferring BTC into FIAT or simply using it via some crypto debit card can be quite complicated, especially for people who re not so technical.

This is one thing which need to be simplified big time in order to achieve higher acceptance.

[Leonardo7]

One of the most complicated things about bitcoin is losing one's private keys or passphrase, and never remember the password, or when the phone is misplaced and the passphrase is never able to be retrieved, not even wallet ID, this can be very crazy and hope dashing for any user of such category.

[Wintersoldier]

One of the most complicated things about bitcoin is losing one's private keys or passphrase, and never remember the password, or when the phone is misplaced and the passphrase is never able to be retrieved, not even wallet ID, this can be very crazy and hope dashing for any user of such category.

It is quite not complicated actually, it is considered a dead-end for the investment that you have on that particular wallet address or account.

Moving on, for me, the most complicated thing for bitcoin is when you are referencing transaction history of different wallet address especially when there seems to allot of address showing in the blockchain. In this regard, may be an identification name could be a solution to minimize confusion through the addresses.

[tungaqhd]

When someone starts using Bitcoin, the first thing he/she comes up with is a nice user interface (depending on the wallet used) that allows him/her to send/receive Bitcoin easily. With a little technical knowledge, the user won't need to worry about other Bitcoin features as long as he/she is able to send/receive coins in a P2P manner.

Still, there are other things that would be of benefit to the user if he/she knew about them. Batching transactions allows one to save off fees, while sending Bitcoin to a new address every time increases privacy. Most wallets don't have a straight-forward interface for the user to do this easily (as far as I know), which involves some technical knowledge to get the most out of Bitcoin.

Among the many features provided by the Bitcoin blockchain, I'm starting to wonder which one is the most complicated? In my case, I believe that it's complicated to perform offline transactions using Bitcoin core as you'd need to know certain commands (like sendrawtransaction) in order to perform said task. There are other commands that are used for creating a multi-sig address and performing batch transactions that are not easy to learn for the average user.

What's your opinion?

I think the most complicated thing about Bitcoin is the fee. They said that it is the reward for miners to confirm the transaction but it is really hard to understand how the miner confirm the transactions.

[joinfree]

Whiles getting to know more about this industry, one thing that i faced as a difficulty was when i was trying to prove ownership of a bitcoin address. This was quite complex as it took me several days to get this done. I think most newbies in this industry might also be facing this problem, well if you are happen to be in such situation you are welcome to seek help from this article.

[Twentyonepaylots]

When someone starts using Bitcoin, the first thing he/she comes up with is a nice user interface (depending on the wallet used) that allows him/her to send/receive Bitcoin easily. With a little technical knowledge, the user won't need to worry about other Bitcoin features as long as he/she is able to send/receive coins in a P2P manner.

Still, there are other things that would be of benefit to the user if he/she knew about them. Batching transactions allows one to save off fees, while sending Bitcoin to a new address every time increases privacy. Most wallets don't have a straight-forward interface for the user to do this easily (as far as I know), which involves some technical knowledge to get the most out of Bitcoin.

Among the many features provided by the Bitcoin blockchain, I'm starting to wonder which one is the most complicated? In my case, I believe that it's complicated to perform offline transactions using Bitcoin core as you'd need to know certain commands (like sendrawtransaction) in order to perform said task. There are other commands that are used for creating a multi-sig address and performing batch transactions that are not easy to learn for the average user.

What's your opinion?

I think the most complicated thing about Bitcoin is the fee.

Yeah, what miners are receiving as a reward for confirming is the fees and reward for each block confirmed.

They said that it is the reward for miners to confirm the transaction but it is really hard to understand how the miner confirm the transactions.

Me either, it just confirmation that appears there can be just one, some are 2 or 3 but I guess it depends on the amount of bitcoin. Larger amount of bitcoin needs to confirm several times and smaller ones need just one. I bet it depends on the computer or GPU, the faster the GPU the faster it computes the mathematical computation and algo of the block.

[Abiky]

I think it's price versus fundamentals. It's hard to convince common folks that Bitcoin fundamentally is doing quite well while the price goes the other way. For a lot of people the price is a reflection of how Bitcoin is doing. Simply put; price up Bitcoin good, price down Bitcoin bad. In a way that's understandable from their position, because why does something go down when it's doing well?

If they knew how markets in general work, it would have been easier to explain them why there is so much speculation, what the effect of this speculation is, etc. You have to calmly articulate everything word by word so that they can understand it. It can be annoying, but when someone is open to accept a different view, they can pass that view to someone else eventually.

Another thing is that in some cases you have to explain why people need a hardware wallet while they can just as easily store their coins on an exchange for free. I'm glad that pointing them at the numerous hacks quickly convinces them to buy a hardware wallet, so that's definitely a plus.

Exactly. That's the real issue here. Since most people associate price trend with the success of any underlying asset, it's difficult to get an average person to use Bitcoin right now. People want something that's stable enough to be used as a currency just like Fiat is doing right now. I'll be complicated for most people to keep up with Bitcoin's prices across the market just to maintain financial stability with it. Also, since most people think about the money instead of the technology, they don't find ways to properly secure their crypto funds.

The hardest part is securing our Bitcoin against hacks or theft. Software wallets are prone to bugs, and viruses put at risk one's crypto funds. On the other hand, online wallets are prone to hacking or theft, with a greater level of risk than software wallets. The most secure solution is to use a hardware wallet, but that involves a certain degree of technical knowledge to be able to use it correctly. Since most people don't have the time to learn how to secure their crypto with a hardware wallet, we've seen how mainstream adoption has been declining each day because of hacks, theft, and the large uncertainty surrounding crypto land.

Hopefully, things will get easier over time as developers work hard on creating wallets that are as friendly to the user as possible. Guiding an average person using "baby steps" would help him/her get a hold of Bitcoin easily. So far, sending/receiving Bitcoin transactions is a task easy enough for the average person to understand. But advanced features like multi-sig addresses, batch transactions, offline transactions, and even mining would require a certain level of technical knowledge to use them within the Bitcoin blockchain. Just my opinion

[Mike Mayor]

I think one of the things that complicate bitcoin is the fact that you are totally in control and only have yourself to blame if something goes wrong. If you send coins to the wrong address or something like that then nothing can be done. Being in total control like that is not something people are used to and I feel they would rather pass that responsibility on to a third party and pay that third party to be responsible. Banks give people a feeling of safety that their money will be ok. I think wallets should make more of a deal over your transaction confirmations so that you don't send to the wrong address or get distracted. Make you solve a short puzzle or something so you know you awake and not fall asleep or too stressed to think. That's when people make mistakes.

[yohananaomi]

I think one of the things that complicate bitcoin is the fact that you are totally in control and only have yourself to blame if something goes wrong. If you send coins to the wrong address or something like that then nothing can be done. Being in total control like that is not something people are used to and I feel they would rather pass that responsibility on to a third party and pay that third party to be responsible. Banks give people a feeling of safety that their money will be ok. I think wallets should make more of a deal over your transaction confirmations so that you don't send to the wrong address or get distracted. Make you solve a short puzzle or something so you know you awake and not fall asleep or too stressed to think. That's when people make mistakes.

Error in stepping so that bitcoin can change hands and without we can change the wrong transaction so that it can be corrected, this is a very fatal thing and not so with banking transactions that can still change it by giving a report, it will not be done again if it happens on bitcoin transaction. need caution in going further for each bitcoin transaction and need to check several times until you believe that you have not made a fatal mistake.

[scout326]

Well,Its a little bit difficult to convince people that its doing pretty amazing

[bitvalak]

When someone starts using Bitcoin, the first thing he/she comes up with is a nice user interface (depending on the wallet used) that allows him/her to send/receive Bitcoin easily. With a little technical knowledge, the user won't need to worry about other Bitcoin features as long as he/she is able to send/receive coins in a P2P manner.

Still, there are other things that would be of benefit to the user if he/she knew about them. Batching transactions allows one to save off fees, while sending Bitcoin to a new address every time increases privacy. Most wallets don't have a straight-forward interface for the user to do this easily (as far as I know), which involves some technical knowledge to get the most out of Bitcoin.

Among the many features provided by the Bitcoin blockchain, I'm starting to wonder which one is the most complicated? In my case, I believe that it's complicated to perform offline transactions using Bitcoin core as you'd need to know certain commands (like sendrawtransaction) in order to perform said task. There are other commands that are used for creating a multi-sig address and performing batch transactions that are not easy to learn for the average user.

What's your opinion?

To be honest, I never thought about complicated things about bitcoin, because my goal was to use its simplicity.
For example, transaction convenience, easy-to-understand UI. If for honest system problems I don't understand at all, especially how the bitcoin protocol is formed.

[kro55]

I think the most complicated thing about anything (not only bitcoin) is the getting started factor. With me, the most complicated thing was choosing the correct wallet. since there were too many wallets (hardware, software, and paper), which one to choose was very tough in the start.

[deadthings]

My biggest fear was what will happen if my coins are hacked or I lost my key. Since as newbie I was told that you cant recover your coins in case they are lost due to any reason. This is perhaps still my biggest fear and I am sure fear of many others too.

[target]

I haven't experimenting anything with my electrum wallet such as sending BTC but setting few satoshi for the transaction fee, I'd be worrying more if its not verified for a long time.

My biggest fear was what will happen if my coins are hacked or I lost my key. Since as newbie I was told that you cant recover your coins in case they are lost due to any reason. This is perhaps still my biggest fear and I am sure fear of many others too.

Losing password and privatekey is a dead thing. Thats not a complicated thing to understand since you already knew that. Remembering and keeping your private key is the hardest so far. You can never be sure no one can find it.

[Zionatin]

The most complicated thing when your enter in crypto world is to understand about security and how to keep your wallet really safe
It's commom to leave the coins in exchanges thinking they are safe, or to enter on a phishing website, or even to send BTC to another adress with some malwares

People also need to get used to taking note of what they do and where things are. THey need to back up their private keys and remember what address belongs to which. Often people leave coins behind in an old address and if they lost access to this they will lose their coins. Understanding these things takes some time getting used to as most people are not used to being fully responsible for their own assets.

[Youghoor]

The only complicated thing about Bitcoin is the different understanding people have about what Bitcoin is and its purpose in the financial ecosystem. A lot of people see Bitcoin as a digital asset and others see it as a digital currency. Personally, this has been the only complicated thing I have seen about Bitcoin. People not knowing the truth nature of what Bitcoin is and the ideology behind the creation of it. This has also been the reason why the adoptation of Bitcoin into the mainstream financial ecosystem hasn't been successful. People having different knowledge about Bitcoin is the most complicated thing about Bitcoin..

[Jalinayr]

For me I think getting it for free. Because there are so many way to earn bitcoin like investing to it. You can get it free by working or promote projects here that's why that is the most complicated thing about bitcoin.

[darkangel11]

The most complicated will differ depending on how much tech savvy the user is. If you are a complete newbie the most difficult thing will be understanding that a private key is not your address. I see people all the time posting TXID instead of their address or putting their own address in the target field, there were even people who mixed the fee with the coins they wanted to send.

For the average user the most difficult will probably be keeping your coins in your wallet and making sure nothing leaks. There's a lot to protect with bitcoin. Your wallet password, private key, recovery phrases... You also have to keep the email registered on exchanges pretty secure.

[plvbob0070]

Yes, you are correct. UI is sometimes make the crypto currency more complicated because of technical terms. Developer must know how this terms make simple to avoid confusion and misunderstanding. As an IT student when I have a time, I hope I can make a way to simplify the process inside crypto currency.