Bitcoin isn't complicated but the fiat system is!

[Iranus]

Both bitcoin and fiat are complicated if we dig deeper into how they work, but fiat has been used for thousands of years and is supported by governments, banks, and thousands of different services that make its use easier than ever. Meanwhile, bitcoin is a decentralized currency, we have to preserve and store it ourselves, which makes it difficult for many people because they are used to depending on and receiving support from organizations such as banks.

The difference I see in both is new and old, and in my opinion, over time bitcoin will gradually become more familiar to people and we will no longer hear anyone complaining that bitcoin is complicated.

Improving user experience is key for mainstream adoption of Bitcoin. It should only be a matter of time before BTC becomes easy enough to use as Fiat for day-to-day payments. Some wallets already set optimum network fees when sending BTC. They even have an attractive GUI. So there's been some progress after all. But you'd still need some sort of technical knowledge to avoid sending coins to the wrong address or securing your funds against hacks or theft. This only applies for non-custodial wallets. Centralized wallets (managed by a custodian) are much easier to use, though.

I hope someday major countries adopt BTC as legal tender. That would reduce Fiat's dominance by a large margin. Despite Bitcoin's promise to bring financial freedom, we should never expect it to replace Fiat. Governments don't want to lose power/control over the economy, right?

I believe that once governments legalize bitcoin and allow people to use it widely, user experience improvements will soon be implemented. Yes, it is only a matter of time and we should not be too hasty because in comparison, bitcoin is only 15 years old while fiat money is hundreds of years old. So don't be surprised or blame anyone if they say bitcoin is more complicated than fiat currency.

I seriously doubt the government will legalize bitcoin as a currency to reduce fiat dominance. Because fiat money represents government dominance, they control us through fiat money so I don't think that can happen.

[stompix]

Improving user experience is key for mainstream adoption of Bitcoin. It should only be a matter of time before BTC becomes easy enough to use as Fiat for day-to-day payments. Some wallets already set optimum network fees when sending BTC. They even have an attractive GUI. So there's been some progress after all. But you'd still need some sort of technical knowledge to avoid sending coins to the wrong address or securing your funds against hacks or theft.

Good luck explaining to the average Joe:
- that when he pays with two inputs he must pay twice in fees, like when paying with two $10 bills you're charged more than when paying with a $20, oh wait...
- explain to the average Joe why he should pay the fee when his card is free
- explain that if something gets wrong with his coins there is no support number

Average Joe will not use decentralized Bitcoin, he will use still a centralized solution if he is forced to, and by then the picture for BTC will look just like the one for Fiat. Harsh and not the reality we want, but it's reality nonetheless!

Yes, it is only a matter of time and we should not be too hasty because in comparison, bitcoin is only 15 years old while fiat money is hundreds of years old.

Fiat money is 50 years old, paper money is hundreds of years old!

[wiss19]

The truth is that BTC technology is complicated to a lot of people, and that is why many people choose not to use it. In order to use BTC, you have to be responsible for your own coins, and many people do not want that, they don't want to store their seed phrase and they fear that being in control of their funds is a scary proposition.

There might be a lot of things about the fiat system that so many people do not understand, but who cares, they keep their money in the bank and allow the bank secure it for them, they simply understand all that they really need to know. However, with BTC i believe even the basic thing isn't easy for a lot of people, i.e. setting an appropriate fee rate for their tx.

I think fiat and BTC can never compete because the biggest difference between fiat money and BTC is that fiat money can be used by uneducated people but BTC can't. While BTC requires education and experience, there are no such requirements or difficulties for fiat money. Also, fiat money is used to buy daily things and not BTC.

Yes, it can be said that those who keep money in fiat should buy BTC instead if they are aware of BTC because the money kept in the bank cannot give as much profit as the BTC can. You buy BTC and can keep the BTC for the future as BTC has proven from its past that every year BTC price goes higher. From now on, BTC will only give profit to its users, so instead of keeping it in banks, BTC should be bought and kept.

[Reatim]

I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method

To be fair no common probably knows all this. But they think of fiat as less complicated because it is what’s commonly used. It seems pretty straightforward. Money from bank, money to spend.

But of course it is more than that but a common man does not see any use for knowing all the other details. With crypto, they say it’s complicated because they can’t understand where exactly it’s coming from. Their mindset is that “money is paper so how is crypto money if there’s no paper?”.

They just need to listen and focus and I am sure they will get it eventually

[Findingnemo]

So far this thread received mixed kind of response and I want to reply to most of the replies but I am too lazy to do that so I am leaving it's upto you to decide what and how it is.

My point is very simple people using USD for very long time but I am pretty sure 99.9% will not be aware of this things so for us to use Bitcoin we don't need to be a geek or expert it can be adopted by anyone with basic knowledge, might take a while to get used to the spending but it does really worth it instead of these bill of exchange.

Bitcoin is money so does Gold and others but USD or other fiat is not money it's bill of exchange.

[darkangel11]

To be fair no common probably knows all this. But they think of fiat as less complicated because it is what’s commonly used. It seems pretty straightforward. Money from bank, money to spend.

But of course it is more than that but a common man does not see any use for knowing all the other details. With crypto, they say it’s complicated because they can’t understand where exactly it’s coming from. Their mindset is that “money is paper so how is crypto money if there’s no paper?”.

They just need to listen and focus and I am sure they will get it eventually

OK, let me try another angle, because IMO fiat money is more complicated than bitcoin.
You are making money from holding bitcoin, or you have a chance to make it in the fiat world.
With bitcoin all you have to know is how to secure your coins and how to transact with a wallet which isn't much more difficult than using a bank app on your phone.
When you choose fiat money you have to set up a company, get a name for the business and register it. You have to prepare invoices for your clients, get a credit card terminal, a safe to hold cash, a printer to print receipts. You need an accountant that will do all the paperwork for you once a year when you have to file taxes. You have to manage money that you hold in the bank because if they just lay there you'll lose at least 5% a year... Isn't bitcoin simple compared to that?

[Z-tight]

My point is very simple people using USD for very long time but I am pretty sure 99.9% will not be aware of this things so for us to use Bitcoin we don't need to be a geek or expert it can be adopted by anyone with basic knowledge, might take a while to get used to the spending but it does really worth it instead of these bill of exchange.

You also do not need to be an expert on what goes on behind the scenes before you use fiat, a lot of people who use BTC do not also understand its technical aspects. I don't get your points, and this post hasn't made it any clearer, i am pro BTC, but fiat has its own purposes and it is what the majority of people use as a medium of exchange.

We can also argue that BTC is a riskier currency to use without having enough knowledge of it, because you are the one in control and responsible for your own security. However, when using fiat, you simply have to keep it in the bank and allow them keep it safe for you.

[Viscore]

I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method

To be fair no common probably knows all this. But they think of fiat as less complicated because it is what’s commonly used. It seems pretty straightforward. Money from bank, money to spend.

But of course it is more than that but a common man does not see any use for knowing all the other details. With crypto, they say it’s complicated because they can’t understand where exactly it’s coming from. Their mindset is that “money is paper so how is crypto money if there’s no paper?”.

They just need to listen and focus and I am sure they will get it eventually

I do agree on you. People are born using fiat in the first place, so it's understood that they have master already on how to properly use it, unlike crypto particularly Bitcoin which has existed a decade ago so people until now are still starting from a scratch how to learn using it, while others just don't mind at all thinking they have fiat already so it takes no essence for them to learn how to use Bitcoin.

[Cryptohygenic]

While I was scrolling Reddit one post caught my eyes

Bitcoin is too complicated" ~US Dollar user

https://i.ibb.co/GcGqN8F/cmqek1mzux8d1.png

_{*you may have to download and zoom in to get in details}

I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method

A common man as you said who is not a bitcoin fan will always have bitcoin complicated not until they are obligated to accept the technology and only then they can have that interesting fact to study about it and accept that fact that bitcoin is not complicated add the fiats because because has its trace of origin and we know total number of bitcoin created, so we also know total mined, transactions as visible and so also, it is obvious to have the potentials to store of values but we know nothing about the fiat apart of it as a centralized funds for goods and services exchanges.

[Maslate]

Bitcoin will always be complicated for those who have no time on learning its technology, but for those who are very excited to learn even the basics in using bitcoin, it will never be complicated for them. In fact, seeing this graph alone certainly tells that it's fiat that is quite more compliment than using bitcoin, but since fiat has been here already from the time we are born, we don't see fiat anymore hard to learn and understand its usage.

[yazher]

If you really know the history of fiat, you will have an idea about how volatile they are and not to be trusted in terms of long term investment especially when the world is on the brink of another world war. That's why most investors are relying on Gold and Silver because for them these are the only real money and it won't decrease its price no matter what happen.

But sine we already have Bitcoin nowadays it is more preferable and convenient to have because you don't need to worry about transferring it no matter where you are as long as you have internet connection. Also the important thing is to easily bring it with you without even letting the others know you have them.

[ancafe]

Bitcoin will always be complicated for those who have no time on learning its technology, but for those who are very excited to learn even the basics in using bitcoin, it will never be complicated for them. In fact, seeing this graph alone certainly tells that it's fiat that is quite more compliment than using bitcoin, but since fiat has been here already from the time we are born, we don't see fiat anymore hard to learn and understand its usage.

Talking about technology that has developed so much, it shouldn't be difficult to learn the technology. Now what makes things complicated is when people don't know technology and they definitely don't know where to start. Bitcoin is simple, buy and hold using a much safer wallet so that the asset will be stored properly until it reaches the price desired by each individual. Fiat was like that when it first appeared, but slowly people were able to accept it, making fiat a viable transaction tool.

Even though bitcoin will not become a legal means of payment, there are other benefits that are much more rational in terms of maintaining value, so people will be increasingly open to accepting it slowly. The complexity that people talk about is because they don't want to learn and are inconsistent in learning the basics of using Bitcoin itself.

[stompix]

OK, let me try another angle, because IMO fiat money is more complicated than bitcoin.
You are making money from holding bitcoin, or you have a chance to make it in the fiat world.
With bitcoin all you have to know is how to secure your coins and how to transact with a wallet which isn't much more difficult than using a bank app on your phone.

Oh really?Let's compare using a card with a wallet!
I enter the store, I put my groceries on the table, I swipe my card , I'm out!
With btc, I enter the store, I go to the cashier, I have to see how much that is bitcoin, I have to input the amount, select the fees, have to look at the mempool, be careful for the value not to slip as I might underpay...
Are we even comparing the two?

The only solution to make it simple would be a 3rd party but that would kill the idea of p2p!
Some need to understand that BTC was not designed to be easy to use, it was designed to be a p2p currency, just as how torrenting isn't as easy for the average Joe as pushing the Netflix button on the remote, Bitcoin isn't as easy to utilize as a credit card for the masses!

When you choose fiat money you have to set up a company, get a name for the business and register it. You have to prepare invoices for your clients, get a credit card terminal, a safe to hold cash, a printer to print receipts. You need an accountant that will do all the paperwork for you once a year when you have to file taxes. You have to manage money that you hold in the bank because if they just lay there you'll lose at least 5% a year... Isn't bitcoin simple compared to that?

It's the same paperwork and even more if you accept Bitcoin, you still need a company, you still need a business license, you still need to file taxes and an accountant! What you're suggesting is working unlicensed and doing tax evasion!
But let's drop the obvious arguments!
If BTC would be that simple, and if we have 20% of the population owning crypto, why don't we have even 1% of the shops in major cities in the Western world accepting crypto? Pretty obvious answer!