Is bitcoin difficult to understand

[dimox]

With my experience learning it’s quite obvious that it’s a simple concept to understand if you take time learning about it and not rushing the process. We the community make it look like learning about bitcoin is a very hard thing to do and this discourage new users who would had picked interests in the currency. Sending and receiving bitcoin isn’t difficult but the other areas that are very hard to some extent.

They learned from a theory that there was no basis I think. In this case I myself am not difficult in getting to know cryptocurrency. Since we need to know what we are cryptocurrency for, I myself entered because I wanted to make money, and soon I understood about bitcoin. I think that way is better than having to learn from a lot of theories or books.

its hard if older try to jump on this road. except, they want to learn the basic about cryptocurrent, little by little. you think you understand about bitcoin, maybe, you know how progress of life, you are up to date, know about many news information.
so, teacher is good for people that want to know about bitcoin or cryptocerrent.

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[terrorJR]

there are many ways to explore knowledge about bitcoin, now it is sophisticated, open Google, there must be a lot of discussion about bitcoin as long as there is a will, I am sure it is fast to find out bitcoin.

what is wrong and is still being done today is when new people in the crypto world immediately jump into trading in bitcoin and they just follow the trend without knowing how to open positions, how to read charts and so on. they only know to buy by seeing people and participating in fomo.
it should have been like that before, at least as you said, see first or learn before going directly because nowadays there is a lot of information about bitcoin. you can even find it anywhere, whether it's in the form of articles or videos

[clint25n]

I think there have been many articles, videos, or writings on social media that have raised the theme of what bitcoin is and maybe even a lot of people in the world have made a book about it..you just have to look for it...if you search on search sites and type in what is bitcoin.. I think there are too many.. I'm sure the next generation will be much better at understanding the existing digital footprint if he or she wants to find out.

[tiCeR]

Bitcoin is difficult to understand for most folks because they do not appreciate what fiat money is.

Majority of people tend to think money = notes and coins. And when their bank says they have $20,000 in the account, it means that the bank physically stores notes to that effect. In addition, a large minority actually think money is convertible to gold.

Witness how people refer to bitcoin as "virtual money", not realising that dollars and euros are equally virtual i.e. just database entries. Further, the concept that dollars in a bank account are fractional claims on database entries tracked by a central bank is as esoteric as quantum mechanics to most folks.

Therefore, Bitcoin as a distributed database tracking a new kind of money is bound to be hard to understand.

Bitcoin is so much more than a national fiat currency could represent in the slightest. The mobility it offers and the incentive alignment of all its stakeholders is a unique architecture that no asset so far could offer.

[samsul1234]

Peoples fine it difficult to understand what is cryptoccurrency most especially bitcoin,but their interested over cryptoccurrency.
I just suggest that their should be a TEXT BOOK that will discuss about cryptoccurrency in order to educate people who are interested because referring them to online shows that know Manuel evidence of cryptoccurrency. And if their is any article that guide bitcoin.

hello sir, i totally agree with there, yes new people today may have to understand cryptocurrencies, even cryptocurrencies can't only be learned in 3 days or so they must really understand how cryptocurrencies work and how to understand correctly , maybe your suggestion about the crypto knowledge tome is good so people won't panic when the bitcoin price starts to drop

[ArIMy11]

They become interested to bitcoin or crypto because they see the potential to earn big amount of money in crypto. But they have no patient to know, or read, or study what is crypto and how does it work. In school we have a lot to learn so as in crypto. We can't get all the information we need by just watching a single youtube tutorial. Me personally, I also find it hard at first because I am too lazy to read. All I want is to just depend and ask my friend but my friend stop answering my question so I have no choice but research what I need to know.

[Fortify]

Peoples fine it difficult to understand what is cryptoccurrency most especially bitcoin,but their interested over cryptoccurrency.
I just suggest that their should be a TEXT BOOK that will discuss about cryptoccurrency in order to educate people who are interested because referring them to online shows that know Manuel evidence of cryptoccurrency. And if their is any article that guide bitcoin.

To be honest it was only in the last year that I got a better understanding of how the blockchain and bitcoin actually work, for about the last 5 years I've been using it with just a vague understanding. That is part of the beauty of it in a sense, that you're able to have a basic knowledge of the idea (all previous transactions can be viewed and help to form the next calculation). Every beginner can see the long history of Bitcoin, rather like the database that a bank keeps as a private ledger. Much like any investment, if you are going to put a lot of money into your bitcoin holding, it would be best to learn how it really works for your own peace of mind.

[speedforce]

Bitcoin is difficult to understand for most folks because they do not appreciate what fiat money is.

Majority of people tend to think money = notes and coins. And when their bank says they have $20,000 in the account, it means that the bank physically stores notes to that effect. In addition, a large minority actually think money is convertible to gold.

Witness how people refer to bitcoin as "virtual money", not realising that dollars and euros are equally virtual i.e. just database entries. Further, the concept that dollars in a bank account are fractional claims on database entries tracked by a central bank is as esoteric as quantum mechanics to most folks.

Therefore, Bitcoin as a distributed database tracking a new kind of money is bound to be hard to understand.

I guess yes it will be hard to understand by explaining bitcoin such that thing, i especially explain to my friend that Bitcoin is digital currency with such a cryptograhic thing and all the participant of the community will be the bank to record the transaction.

[bitzizzix]

I think bitcoin is easy to understand but difficult to explain, the best way to understand bitcoin well in my opinion is to join this forum and besides that find out accurately and positively about the understanding and workings of bitcoin through the internet which I think has a lot of information and others about bitcoin, it all depends on our intelligence in reading and assessing it.
if we do it seriously and earnestly, I think we can easily understand bitcoin very well, but never feel satisfied to keep learning and have to keep learning all about bitcoin and other cryptocurrencies and their risks.

[Golftech]

Bitcoin is difficult to understand for most folks because they do not appreciate what fiat money is.

Majority of people tend to think money = notes and coins. And when their bank says they have $20,000 in the account, it means that the bank physically stores notes to that effect. In addition, a large minority actually think money is convertible to gold.

Witness how people refer to bitcoin as "virtual money", not realising that dollars and euros are equally virtual i.e. just database entries. Further, the concept that dollars in a bank account are fractional claims on database entries tracked by a central bank is as esoteric as quantum mechanics to most folks.

Therefore, Bitcoin as a distributed database tracking a new kind of money is bound to be hard to understand.

I guess yes it will be hard to understand by explaining bitcoin such that thing, i especially explain to my friend that Bitcoin is digital currency with such a cryptograhic thing and all the participant of the community will be the bank to record the transaction.

With someone without any knowledge, explaining it that way would be very hard to understand, since they are all

using fiat and they fully understand how things works with the system that they've used to, Bitcoin is not hard to

understand for people who have time to study the fundamentals.

[jinxing]

there are many ways to explore knowledge about bitcoin, now it is sophisticated, open Google, there must be a lot of discussion about bitcoin as long as there is a will, I am sure it is fast to find out bitcoin.

what is wrong and is still being done today is when new people in the crypto world immediately jump into trading in bitcoin and they just follow the trend without knowing how to open positions, how to read charts and so on. they only know to buy by seeing people and participating in fomo.
it should have been like that before, at least as you said, see first or learn before going directly because nowadays there is a lot of information about bitcoin. you can even find it anywhere, whether it's in the form of articles or videos

it's one of the faux pas for new people by taking direct action to trade in Bitcoin without understanding how it works first. in fact Bitcoin is quite difficult to understand for those who are ignorant of this technology and do not take the time to read info about cryptocurrencies

[tiCeR]

there are many ways to explore knowledge about bitcoin, now it is sophisticated, open Google, there must be a lot of discussion about bitcoin as long as there is a will, I am sure it is fast to find out bitcoin.

what is wrong and is still being done today is when new people in the crypto world immediately jump into trading in bitcoin and they just follow the trend without knowing how to open positions, how to read charts and so on. they only know to buy by seeing people and participating in fomo.
it should have been like that before, at least as you said, see first or learn before going directly because nowadays there is a lot of information about bitcoin. you can even find it anywhere, whether it's in the form of articles or videos

it's one of the faux pas for new people by taking direct action to trade in Bitcoin without understanding how it works first. in fact Bitcoin is quite difficult to understand for those who are ignorant of this technology and do not take the time to read info about cryptocurrencies

You call it faux pas but in reality who of us is all different? Trading Bitcoin has been exciting from the get go and I guess only a minority managed to fully refrain from trading while making studying Bitcoin a priority.

[KennyR]

As per my opinion Bitcoin is easy to understand, but the backing blockchain technology is quite complex for the beginners. There is misunderstanding between bitcoin and blockchain. The development of different applications have made Bitcoin transactions easier than ever. This makes easy understanding about bitcoin as a transaction source and on other needs such as trading and investing.

[gundala]

As per my opinion Bitcoin is easy to understand, but the backing blockchain technology is quite complex for the beginners. There is misunderstanding between bitcoin and blockchain. The development of different applications have made Bitcoin transactions easier than ever. This makes easy understanding about bitcoin as a transaction source and on other needs such as trading and investing.

To understand Bitcoin and Cryptocurrency in general it is needed, moreover, there are still many pros and cons in the community regarding this matter. This is also still a new and not quite common in the community.

In order not to be affected by issues or negative rumors, we should read a lot from trusted and neutral sources. I like reading technical things related to Crypto from articles published on the Coindesk and Binance website. It's a good idea to join the Crypto Community in your city, this is very good for building a positive circle and learning directly from other more experienced friends.

[SaShiRaJaVu]

As per my opinion Bitcoin is easy to understand, but the backing blockchain technology is quite complex for the beginners. There is misunderstanding between bitcoin and blockchain. The development of different applications have made Bitcoin transactions easier than ever. This makes easy understanding about bitcoin as a transaction source and on other needs such as trading and investing.

You basically do not need to understand the working of Bitcoin to use them, all you need is the user friendly front end wallets that will not confuse people and if they get that then everyone will be trying their luck in the market. First and foremost they need to learn about securing the wallets and select their perfect wallet and then the next hurdle is to find the suitable exchange and if they can do that then it is not even difficult.

[Woodie]

It depends who you ask, the younger guys will certainly say something like it's the new digital gold which is an equivalent to fiat while the older generation might not have an idea about it but of course with a little explanation they will catch on,but with some  extra patience because the topic of bitcoin sounds like a ponzi when you explaining it to someone.

[genolica]

Nothing is difficult to understand really, if you point yourself in the right direction of your learning ways and habits.

Anyway, bitcoin is just easy to understand, considering an overview of its whole concept and how is it used can be explained even in just layman's terms.

https://bitcoin.org/ provides excellent informative blogs, videos, articles etc. that does the job for an average person who can and want to understand the concept of bitcoin. It does not just limits you to understanding BTC itself, but it takes you closer to the understanding of how cryptocurrency works, especially now that alternate cryptocurrency coins are spawning all over the blockchain universe. Especially in these times of people just sitting around with their computers and devices the whole time, it is an obvious path of opening new doors and opportunities for cryptocurrency and blockchain to be more popular, considering online economy movements is dominating today.

[kojektea]

Bitcoin theory is too broad, I myself did not learn through books or theory even history, I immediately wanted to get bitcoin and wanted to know the benefits, many people are confused with bitcoin , on the other hand people are also terrorized by fud news of people who want bitcoin broken. It disturbs them in knowing bitcoin, only a few people manage to get to know cryptocurrency. In fact it happened in my neighborhood.

[Iphomme]

Well, these are usually the most difficult parts of Bitcoin that you need to explain to somebody new to Bitcoin.
Of course there are the technical aspects that are hundreds of times more difficult to understand than this simple resume, but then you need to study programming, cryptography, economy and probably some politics as well.

  Yes Same us to me in the first place and now Im trying to learn and read the other thread that gain me another lesson to get . Studying Bitcoins is not easy for me and it takes time to me to learn but it's challenging to have a new lesson and gain more benifets about Bitcoins. Im thankful to higher than me in here that they tell me about Bitcoins.

[JerryKin]

The concept of Bitcoin isn't something you can easily grasp from one gist. It might actually take you time to fully understand what it is about. You might not need to go deep into everything about it before you get the concept and start investing.