People Are Not Nerdy Enough

[urbanmerchant]

Yes, I am complaining that people are not nerdy enough. It's been 14 years since Satoshi published his white paper and the vast majority of people still don't understand what Bitcoin is and how to use it. Sure there are many people buying Bitcoin on crypto exchanges and speculating on it.

However, the average guy on the street that I speak to, and even many people on crypto forums still don't understand Bitcoin's potential as a virtual commodity, or it's potential to create an alternative to Fiat economies. Maybe the problem is deeper than just a lack of understanding about the technology? Maybe it's a lack of understanding about economics as a whole? How many people are economists?

I understand that my frustration might be due to the fact that I am coming from a very privileged position. What are your thoughts on this?

[EarnOnVictor]

"Rome wasn't built in a day" and we should be grateful for the level at which Bitcoin is growing right now. You called it 13 years, did you know how many projects have failed in centuries and many more that have lasted centuries but have not gotten 1/100 of Bitcoin's achievement? There are many assets that have lasted thousands of years but do not have the value and adoption of Bitcoin, you can't just force it on people at once.

Bitcoin speaks for itself, let it continue to do so. Time and the pain of missing out would force many others to adopt it.

[mk4]

Most people in general don't even understand how money works — how do you expect them to understand how a decentralized digital currency could potentially overtake their local currency — a currency that they've been using since they're born?

[Latviand]

One problem that I can see is that bitcoin isn't really a good topic starter especially in a casual conversation, I think it's just that some people just don't know what they're talking about anymore, they do understand but I think that comprehension and sincerity on their communication is the real problem, conversation is a two-way street though so if you are the one that doesn't know what you're talking about then it's the same problem.

[Despairo]

If people are buy and sell Bitcoin on centralized exchanges, it means they're understand if Bitcoin is a virtual commodity.

As for Bitcoin is an alternative for payment solution, you need to answer how often you use Bitcoin to pay bills, to buy your daily needs, or anything that you use fiat to pay. If you're saying, I mostly use Bitcoin as an investment, I only use Bitcoin few times to buy something, it's mean you're also not consider Bitcoin should be used as payment solution.

[_act_]

Yes, I am complaining that people are not nerdy enough. It's been 14 years since Satoshi published his white paper and the vast majority of people still don't understand what Bitcoin is and how to use it. Sure there are many people buying Bitcoin on crypto exchanges and speculating on it.

What that is more important is adoption and we are getting it. How many people did you think that read the bitcoin white paper? I for one did not read it before I know what bitcoin is all about. There are many papers that are online that can brief you what is in the white paper. Bitcoin is not a project like altcoins that you need to read the white paper anymore if you do not want to read it.

However, the average guy on the street that I speak to, and even many people on crypto forums still don't understand Bitcoin's potential as a virtual commodity, or it's potential to create an alternative to Fiat economies. Maybe the problem is deeper than just a lack of understanding about the technology? Maybe it's a lack of understanding about economics as a whole? How many people are economists?

Anyone that understand the law of demand and supply can easily understand. I did that during my high school days. With that, knowing how bitcoin is limited in supply to not more than 21 million coins and how the demand is increasing which makes it valuable.

I understand that my frustration might be due to the fact that I am coming from a very privileged position. What are your thoughts on this?

Do not be frustrated. Bitcoin price is going high and the adoption is what we are seeing. With time, more people will understand more.

[Z-tight]

Some people just don't care about BTC, so why should you care that they don't. I don't know what your message here is, but everybody can't be interested in using BTC, so many people are comfortable using only fiat and they allow the bank 'take care' of their money, they do not want to have some of that responsibility, and that's okay.

I believe that whenever a person is looking for a second choice currency to their fiat currency, they will become interested in BTC, but until then.

[traderethereum]

Don't get frustrated by situations that don't go how you want.
Maybe this is because people still enjoy bitcoin for what it is and are still looking to profit from trading and have not yet started using bitcoin for a virtual commodity or as you would say.
Using bitcoin is the desire of each person and we cannot force them to follow what we suggest because people are still comfortable with what they are still doing today.
When it's time, people will start studying bitcoin in detail and even though it's a bit late to own bitcoin because the price is already very high, it's also okay because using bitcoin is everyone's choice.

[Ojima-ojo]

The problem is not with Bitcoin but the people,  because for the past 14 years of Bitcoin's existence bitcoin have succeeded in its primary role which is being an alternative to traditional commodities both in currency and in asset,  just as we all know that the way the public is wired to function is to favour centralization since the government don't want you to know shit so that you will not get the total freedom deserving to you.


So at this point,  the responsibility is left for the individual to carry out a deliberate search for knowledge that will aid his freedom because left for the government always wants to create policies that only favour them against the freedom of the people and one of the ways for people to attain the freedom that will reflect every other aspect of the life is financial freedom and in this area government/central banks control the traditional economy so at that most of the things that aid that freedom is always kicked against by the government e.g decentralized cryptocurrency like BTC.  


The government have created limitations to Bitcoin adoption and its mainstream awareness within the society because we have some countries that have a total ban on Bitcoin,  this will make Bitcoin awareness in such country to be low,  but being that as it may,  Bitcoin is still doing well because for bitcoin to have attained it a market capitalization that can compete against old commodities like gold it shows that Bitcoin has indeed attained a good level of success that we all have to be happy with.

[Churchillvv]

Literally every full grown adult makes decision for themselves, so it's their right to know or not. You can't force anyone to know what you know. Bitcoin is is very good with all it's potentials but what if I don't have anything to do with it? Speaking from the layman's point of view. That how the average person speaks of it.

The fact is, most people have heard of Bitcoin but have not really have the time to look into it. It's a privilege that we all in this forum have heard and had time to look into it. Most rich people don't want to know anything about Bitcoin but really want to benefit from it, so they employ people with good knowledge of it and have them make money for them. Having to disagree with somethings and agree to somethings is what makes us humans, some choose to go right so choose to go left. That's why not everyone is rich and some has to know of it while some don't need to know. It just vise versa to make the equation balance. If everyone knows the deeper knowledge of something then there will be no one to lead everybody becomes the leader. That's what economics talks about, so I suggest you talk the people that are interested into it and let the ones who pays deaf ears to it be.

[yudi09]

-snip-

What are your thoughts on this?

Those who save large sums of money in conventional banks do not fully understand the banking system. They may only understand how to benefit from the amount of savings deposited as a customer. Another possibility is that they simply understand some of their rights as customers from what was explained before opening an account.

Their relation type to Bitcoin IMO is pretty much the same. Most people don't really care about the Bitcoin system. They probably know that Bitcoin has a good system and Bitcoin can give them a large amount of profit compared to the interest rate that conventional bank deposits can get if they invest long term.

It could be that they just stop there in understanding Bitcoin because if they understand how money works, they will be confused about why fiat money works that way.

[Outhue]

Many people still don't give a F about Bitcoin, because if we look at the bigger picture they don't care, so many don't know what it is because Bitcoin still doesn't matter that much, yes you heard that right, Compare Fiat popularity to Bitcoin, even beggars on the street knows the importance of Fiat, I don't have to explain why, but Bitcoin? Nah, that's till too early.

Bitcoin needs to matter in a whole new level of popularity first to get to certain people, and it's still far from that right now, you OP are showing signs of hasty, you are impatience it seems.

Decentralized cryptocurrency is complicated to millions of people for only one reason, the government is not saying, oh my people, as from today you all should start spending Bitcoin, it's safer and more valuable, they want the hands of the government in Bitcoin before they can fully embrace Bitcoin.

[Tytanowy Janusz]

"The median savings balance — not including retirement funds — of Americans under 35 is just $3,240, while it's $6,400 for those ages 55-64."
https://www.marketwatch.com/picks/heres-exactly-how-much-americans-have-in-savings-at-every-age-and-yikes-heres-what-they-should-have-01659384531

And we're talking about America, the "first world", the world's largest economy... A man with such savings and a total lack of education in the field of managing the household budget (not even economics, but simple save as much possible and invest to build long-term prosperity instead of spending on usless stuff and living on credit, pursuing not your own interest but the interest of the sect called "consumerism")  is more wondering where to go on vacation with it, or whether to buy an iPhone with it than looking for alternatives to Fiats or new innovative financial instruments.

[Supianto]

I simply don't care about other people. We're all different, most people don't even think about investing. And I consider myself kinda privileged to be able to even think about it. Some just live from salary to salary and don't know how to exit that circle. And not all of them just dumb or lazy.

[ranochigo]

If the end goal of Bitcoin is to have everyone to understand how it functions, then it would have failed as a currency. Initial versions were made such that people who are technically adept are able to understand and develop it. However, if we want Bitcoin to be mainstream, then complicating it further would be counter intuitive and hence why it is a bad idea to further complicate things instead of simplifying.

[passwordnow]

It's okay, not everyone is privileged as you and us to know the concept of Bitcoin as well as the things that are related to economics. People are taking one step at a time and it doesn't matter whether they're slow or quick in the learning process. It's not actually a big deal if they're not versed with bitcoin and blockchain technology. It's all about the preference of someone because if s/he really wants to know about it, the initiative to dig a lot from it will happen.

[Lorence.xD]

Well learning is free, but not all of the people have the privilege to study due to their financial needs. Imagine you're looking for something to eat everyday but someone asked you why aren't you aware of Bitcoin? You don't need to force someone to have the same mindset as you, every people has their own challenges in life and issues that they are facing but your problem is about their knowledge about Bitcoin or the economy? Just remember that Bitcoin is open to everyone but for sure it's not for them, the complicated, hassle and plus the investment they need to think of before understanding Bitcoin is just time consuming for them so they don't even bother. If they really want to understand something they would do their own research about it.

[Nrcewker]

I don’t consider Bitcoins as fiat’s alternative. The reason is very simple. Bitcoins are limited in numbers hence very rare. So there will be very few people who will give away these rare coins in exchange of something which they can easily buy with money. So if you considering Bitcoins as an online payment method, then I am not agreeing with you. Yes many people don’t know the capabilities of Bitcoins, they complain when the price drops and praises when make profits. They need to understand the economics and hence need to care about the coins.

[BlackHatCoiner]

the average guy on the street that I speak to

The average guy on the street doesn't know what's bitcoin. They might have heard it once or twice, but they didn't have the time to look it up (or didn't want to). You're somehow expecting the average person to become one with a financial instrument-- that is bitcoin. In my experience, the average person doesn't have lots in savings (if any), nor do they are competent, neither appetite to learn about it.

[Doan9269]

Yes, I am complaining that people are not nerdy enough. It's been 14 years since Satoshi published his white paper and the vast majority of people still don't understand what Bitcoin is and how to use it. Sure there are many people buying Bitcoin on crypto exchanges and speculating on it.

Quite alright that everyone wants bitcoin but not everybody will be interested in learning about bitcoin deep down to the root, all they want is the result to come out with bitcoin if given a chance of clearing their doubt on the digital currency, while we could still have some that will only be interested in hqvi a background knowledge and understanding of what bitcoin is and how they could apply the network protocols to achieve their targeted research and findings on bitcoin, they would have been the kind of people who understands the whitepaper well enough with the techniques in bitcoin than being an investor alone.

However, the average guy on the street that I speak to, and even many people on crypto forums still don't understand Bitcoin's potential

It's not everyone that's found on this forum bitcointalk, there are many other crypto platforms where their major discussions are on other cryptocurrencies and shitcoins, how will you want to have them achieve something vital there when the source of the Informations received are not genuine enough and the forum aren't as moderated as expected, so they needed to identify this forum as the only most reliable source of bitcoin information and discuss Which could facilitate their learning about bitcoin than other sources or platforms.