has bitcoin become too simplistic?

[Alpha Marine]

Bitcoin was not built to be complicated. Of course, the technical part of it is complicated, but it was built in such a way that you don't need to know the technical part of it to understand it and use it. When something is too complicated, it becomes only for a specific people; people who are in that field, but Bitcoin is for anybody. All you need to know are the basics. How it works, why and how it was created, how it is mined, and what makes it unique. These are not things that are difficult to understand. It is only after you have understood these things, which are the basics, that you can start getting an understanding of the technical part.

You don't need to know how the engine of your car works and how it accelerates when you press the gas pedal to drive a car. You also don't need to know what happens when you swipe your debit card on an electronic device to be able to pay with it. Still, both cars and payment cards have attracted hundreds of millions of people.

We can apply the same logic to Bitcoin. You will need only the basic of knowledge to be able to use it. If you are interested in more complex and technical parts of the system, and some people are, they can acquire that knowledge by studying the code and learning from technical documentation. None of that is mandatory for the average user, though, in the same way as not being able to explain the internal combustion engine can still take you from A to B.

Bitcoin is already a phenomenon, and it's not a success because tech geeks and developers find it useful. Its success lies in the fact that it provides many benefits to ordinary people with limited knowledge of its technology.   

If someone have a problem over centralized exchange or wallet, then who they should seek? friends? it would breach their privacy, people are less likely to contact the customer support because they like someone in real life to fix for them.

Hence, people have to know many thing than just the basic because you can't rely on someone when you have a problem.

These things you mentioned are the basics. Wallets and exchanges are the basics of understanding Bitcoin. How do you learn about Bitcoin without knowing how wallets work and ow how exchanges work? If you have a problem and need help, that doesn't make it a technical part of bitcoin; it's just normal life. In all fields of life, people need assistance; it doesn't mean the assistance they need is a technical part of that field.

The forum was created to educate and give assistance to both the technical and non-technical aspects of Bitcoin. For example, if a person wants to import his address to a new wallet and he doesn't know how to go about it, if he asks, he will be given assistance on how to do it; that doesn't mean the problem was a technical problem. It's just a basic problem he doesn't know. The fact that we use the word "basic" doesn't mean everybody understands everything about it.

[Rustam Meraj]

Exactly more people use Bitcoin, more it becomes less hard idea, simply about buying and holding, and technical parts of matter are left behind, which is, in my opinion, clear sign of success. Like internet, technology should be easy to use so as to reach all people and this shows that its hard foundation is strong and good enough to be hidden with user friendly tools. Real success is that hard rules of Bitcoin such as fixed supply and security can be trusted by all, that is, simplicity is first step which is needed to change Bitcoin into small project into world money system.

[FREIVOGEL231]

i had this thought trying to scroll here on the forum looking for discussions about bitcoin and i want to ask whether we think bitcoin has become too simplistic? i do not mean simplistic in a way that the very core of bitcoin has changed but rather how it’s perceived by people

since there’s more and more people getting into bitcoin, we should expect that bitcoin will be explained and understood in easier ways and its technically advanced or more complex parts would not be explored by most people anymore

all they would know is how to buy, sell and hold and that’s it

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

I don't think end-users need to know the clockworks behind Bitcoin they only need basics send receive
But I have a question was Bitcoin releasing and usage the final goal?
I mean if you created the new system foundation
Tested it and built trust in it
What should be the next step?

The Creator of the Bitcoin wanted a change in economical system
low fees transactions
Freedom of financial System
wanted to fight the tools used by old system that made inflation
Bankrupt
wanted to fight money derivatives that ruined people life's
Do you think giving his own work to the hands of the same people he was fighting is really what he wanted
Bitcoin know not what is used to be
The Rich become richer and the poor become poorer with Bitcoin now

So it doesn't matter if we now how to use it what really matters is to know what to use it for

[justinlamode]

since there’s more and more people getting into bitcoin, we should expect that bitcoin will be explained and understood in easier ways and its technically advanced or more complex parts would not be explored by most people anymore

all they would know is how to buy, sell and hold and that’s it

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

Bitcoin was created as internet money of the free, so you should not be surprised if the discussion is hovering around buying and selling because that is what money is used for. You don't need to have full knowledge of the technical aspect of Bitcoin before you can use Bitcoin just like you don't have to know all that has to do with monetary policies and banking system before you can us the fiat system. There is a technical section where technical stuffs are discussed, you can visit that section for all technical discussion, or bring up one if you have any.  

[rodskee]

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

Yes I will consider it as a success as long as they know how to make use of it and transact with it.

I was reading through this : Study Says Majority of Bitcoin Users Admit They Don’t Understand It

now that i think about it the most common things we encounter in our everyday lives a lot of us won't really be able to explain the hows and whys of it

if someone was asked how the internet works they probably would not know how to answer it even though they use it everyday and it has become such a huge part of their life

[arwin100]

Exactly more people use Bitcoin, more it becomes less hard idea, simply about buying and holding, and technical parts of matter are left behind, which is, in my opinion, clear sign of success. Like internet, technology should be easy to use so as to reach all people and this shows that its hard foundation is strong and good enough to be hidden with user friendly tools. Real success is that hard rules of Bitcoin such as fixed supply and security can be trusted by all, that is, simplicity is first step which is needed to change Bitcoin into small project into world money system.

What I really see now that there are lots of people starting to dislike the idea to trade their Bitcoin due to technical reason.

Many people think about more easiest thing which all people can easily do. That's the reason on why accumulating and do DCA discussion becoming famous in this forum since lots of people like the idea about they just need to buy Bitcoin and HODL it then they have great chance to earn huge in future if Bitcoin pumps then hit or break huge ATH records.

People really got amaze on the fix supply of Bitcoin and possible scarcity with this coin gives lots of idea to lots of people that Bitcoin is good to hold for long term. What good thing about doing such activity is this is been proven by lots of old holder before since most of them earn huge profit from Bitcoin.

[lizarder]

i had this thought trying to scroll here on the forum looking for discussions about bitcoin and i want to ask whether we think bitcoin has become too simplistic? i do not mean simplistic in a way that the very core of bitcoin has changed but rather how it’s perceived by people

since there’s more and more people getting into bitcoin, we should expect that bitcoin will be explained and understood in easier ways and its technically advanced or more complex parts would not be explored by most people anymore

From what perspective do you think Bitcoin has become much simpler, given that nothing has changed since its inception until now? Except in terms of adoption and interest in approaching investment and trading, as the Bitcoin community itself has grown. Bitcoin is easy to understand and explain, but to what extent can someone see this based on their existing knowledge? Without proper study, people might find it difficult to grasp. Investing may be much simpler and easier to understand because all it takes is money to buy and store it safely.

The difficulty lies when someone engages in trading, because there is a lot to learn, and if one takes the wrong position, trading can result in losses in a relatively short time. That is why people consider investing much better and one does not need to worry too much about losing more money compared to involvement in trading which is full of high risks.

[Woodie]

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

I think if we made reference to fiat , I think we all know the simplistic side of it because fiat too has the technical side of how the central bank has to control it's supply, we have to consider the money policy, the fiscal policies etectra and people don't put this much into consideration, same philosophy applied to Bitcoin, we don't need people to know the technical side of it unless you are interested otherwise keeping it simple should be the name of the game.

[Lucius]

i had this thought trying to scroll here on the forum looking for discussions about bitcoin and i want to ask whether we think bitcoin has become too simplistic? i do not mean simplistic in a way that the very core of bitcoin has changed but rather how it’s perceived by people
~snip~

The vast majority of people still perceive Bitcoin as some kind of internet scam that will sooner or later collapse, and that is a fact that cannot be escaped. I think the reasons for this lie in the fact that Bitcoin has been the target of the mainstream media for too long in a very negative sense, and not much has changed even today when the big players started buying Bitcoin and are obviously trying to keep the price as low as possible for as long as possible.

While on the one hand various companies and funds already have over 2 million BTC in their possession that we know about (who knows how much we don't know), on the other hand central banks and various financial agencies continue to warn ordinary people not to invest in Bitcoin. The real problem is that the average person believes in such stories and would rather buy a government bond that will give him an annual yield of 3%, while at the same time inflation amounts to at least that much or more.

[Altryist]

i had this thought trying to scroll here on the forum looking for discussions about bitcoin and i want to ask whether we think bitcoin has become too simplistic? i do not mean simplistic in a way that the very core of bitcoin has changed but rather how it’s perceived by people

since there’s more and more people getting into bitcoin, we should expect that bitcoin will be explained and understood in easier ways and its technically advanced or more complex parts would not be explored by most people anymore

all they would know is how to buy, sell and hold and that’s it

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

Most people on the planet use smartphones, but only a few understand how they work technically, and in reality, it's not that simple. Bitcoin is increasingly being adopted by governments, and for people, this is a key indicator. Knowing how to safely store, receive, and send it will be a great success. Even with proper storage, many people currently lack basic knowledge. Moreover, they are overly trusting and often fall victim to fraud. Therefore even in its simplified form, Bitcoin remains a very complex asset for ordinary people.

[brownn]

i had this thought trying to scroll here on the forum looking for discussions about bitcoin and i want to ask whether we think bitcoin has become too simplistic? i do not mean simplistic in a way that the very core of bitcoin has changed but rather how it’s perceived by people

since there’s more and more people getting into bitcoin, we should expect that bitcoin will be explained and understood in easier ways and its technically advanced or more complex parts would not be explored by most people anymore

all they would know is how to buy, sell and hold and that’s it

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

Yes, it will pass on with time. Like suppose a person is now investing in bitcoins and made profit with it, his children will also learn about it. When they start earning, they will also start investing in bitcoin and also tell others about this opportunity.

[tabas]

i had this thought trying to scroll here on the forum looking for discussions about bitcoin and i want to ask whether we think bitcoin has become too simplistic? i do not mean simplistic in a way that the very core of bitcoin has changed but rather how it’s perceived by people

since there’s more and more people getting into bitcoin, we should expect that bitcoin will be explained and understood in easier ways and its technically advanced or more complex parts would not be explored by most people anymore

all they would know is how to buy, sell and hold and that’s it

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

It has to be that way. People won't buy bitcoin if it's too complicated for them. We have been there and understood the struggle but we just believed on it, and we're in it for the 'tech'. I believe that most of the new people that has got in are also going to tell the same thing. They don't have to be technically good at it but they at least need to understand the basics of it. Just look at gold, it doesn't need its owners and investors to be technical about it, as long as they're in it and trusts what it has got which is about the growing value of it from time to time, it has grown and one of the known assets globally.

[m2017]

i had this thought trying to scroll here on the forum looking for discussions about bitcoin and i want to ask whether we think bitcoin has become too simplistic? i do not mean simplistic in a way that the very core of bitcoin has changed but rather how it’s perceived by people

since there’s more and more people getting into bitcoin, we should expect that bitcoin will be explained and understood in easier ways and its technically advanced or more complex parts would not be explored by most people anymore

all they would know is how to buy, sell and hold and that’s it

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

I've spoken about this repeatedly in my previous posts. For bitcoin to be widely adopted globally (by all segments of the population, or at least by the majority), this financial instrument must be "simpler" to be "accessible". Basically, what we see around us is a movement toward simplification. For example, mobile wallets (and exchange apps and crypto platforms) allow virtually anyone to buy, sell, send, and receive bitcoin.

For any technology to be accessible (and understandable) to the masses, it must be simplified, as "difficulties" in use will "push" users away.

The technically complex aspects of bitcoin would never, under any circumstances, be studied by the majority, as this is the domain (and privilege) of a few passionately tech-savvy geeks. This is only of interest to the most dedicated BTC fans. Most people only care about the price and some possible uses (for example, cross-border payments). Therefore, you shouldn't worry about bitcoin being simplified for the masses. This is exactly what is needed for mass adoption (which many would like).

[Kelward]

Many people that were not into Bitcoin thought that they needed technical knowledge to be able to own Bitcoin, they would have the interest but will be discouraged because of what they believed. They think that Bitcoin investment is as complex as crypto trading until they research and know that it is quite easy to create a wallet and buy Bitcoin without knowing in-depth technicalities about it. Bitcoin simplicity to buy and sell is the biggest reason why it's adoption is increasing, as more people start to realize that they can own Bitcoin without anybody's help they will be encouraged to buy and hold as an asset. If owning Bitcoin were as technical and physical as mining I don't think that many people will adopt it despite their interest.

[Webutxo]

Many people that were not into Bitcoin thought that they needed technical knowledge to be able to own Bitcoin, they would have the interest but will be discouraged because of what they believed. They think that Bitcoin investment is as complex as crypto trading until they research and know that it is quite easy to create a wallet and buy Bitcoin without knowing in-depth technicalities about it. Bitcoin simplicity to buy and sell is the biggest reason why it's adoption is increasing, as more people start to realize that they can own Bitcoin without anybody's help they will be encouraged to buy and hold as an asset. If owning Bitcoin were as technical and physical as mining I don't think that many people will adopt it despite their interest.

Not technical knowledge is needed before you can start to buy Bitcoin but I see it as necessity for everyone to acquire one or two. You don't need to know everything but the basic is very important. Imagine buying Bitcoin but you thought leaving it in a centralized exchanges is better than putting it on your wallet, that's a bad thing to do and sadly many people don't know about this information.

It's because some don't have the basics is why they loss their entire wallet to scammers. You can't have Bitcoin on your laptop wallet and think of downloading things from the internet, gamers like software like crack version for free, such wallet can have a malware which they may not be aware about, this informations are very important to learn for everyone security.

[Alphakilo]

i had this thought trying to scroll here on the forum looking for discussions about bitcoin and i want to ask whether we think bitcoin has become too simplistic? i do not mean simplistic in a way that the very core of bitcoin has changed but rather how it’s perceived by people

since there’s more and more people getting into bitcoin, we should expect that bitcoin will be explained and understood in easier ways and its technically advanced or more complex parts would not be explored by most people anymore

all they would know is how to buy, sell and hold and that’s it

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

I doubt anyone be it an investor or not, would buy or use Bitcoin if it was very complex and hard to understand. If the process of using it or acquiring it is difficult, no one would go into it for fear of loss.
The reason why it has gained much adoption and is still growing is due to its demand and supply chain and use case in the real world as a hedge against inflation and a store of value for future wealth.

The medium of acquisition of Bitcoin at the onset wasn't or isn't as easy as it is today and with more innovative technology and integration of AI tool to make trading it very simplistic, even a layman today can just take instructions from anyone including the exchange's bio inorder to better work the system and make it productive for one.

Finally, I think that the question about Bitcoin being too simplistic isn't what is to be bothered about because its foundational simplicity will be its enduring strength or it will be a fatal flaw that its Layer 2 complexity can't fully overcome.

[AGogi2003]

I doubt anyone be it an investor or not, would buy or use Bitcoin if it was very complex and hard to understand. If the process of using it or acquiring it is difficult, no one would go into it for fear of loss.
The reason why it has gained much adoption and is still growing is due to its demand and supply chain and use case in the real world as a hedge against inflation and a store of value for future wealth.

The medium of acquisition of Bitcoin at the onset wasn't or isn't as easy as it is today and with more innovative technology and integration of AI tool to make trading it very simplistic, even a layman today can just take instructions from anyone including the exchange's bio inorder to better work the system and make it productive for one.

Finally, I think that the question about Bitcoin being too simplistic isn't what is to be bothered about because its foundational simplicity will be its enduring strength or it will be a fatal flaw that its Layer 2 complexity can't fully overcome.

Bitcoin is easy to understand except you make it difficult for you to understand and if you are someone that don't like it he will always add for you to understand because anything that you don't like he will always be difficult for you, if bitcoin is hard to understand he will be hard for people to invest in it because they won't feel comfortable. The more people are getting more interesting in bitcoin that is how he makes things easier for people because they is not any difficult to explain on how to invest in bitcoin is just for you to keep your wallet self and your private keys when ever you invest know one will get access to it except the one you give out.

What is difficult is just the trading you need to learn and make many research about it before you can become perfect and start to trade with Bitcoin but if is about the investment and popularity all is easy because the more you understand it that is how you will try to guide someone if he have interest to learn about it too.

[coolcoinz]

Is holding/trading/using as payment too little for you, OP? What would you want us to do? Learn to code and discuss technical issues of bitcoin?

The truth is most users of bitcoin don't care about things like block size, core vs knots and all that. Most car drivers don't care what the oil change intervals are, they just get a message on their screen saying it's time to change oil, so they call the dealership and forget about it.

I've been a bitcoin holder for a decade and never cared much about the technical side of it. If you're really interested, read Mastering Bitcoin, but don't expect more people to do the same. It's a really difficult book.

[HONDACD125]

but in your opinion, if majority of the people knew bitcoin and its basics but not the more technical part of it would you consider this as a success? is simplicity
the point of adoption?

Of course, it's a success. Why does a normal user need to know about the technical aspects of Bitcoin and how they work? It's not important if someone knows the technical aspects and how Bitcoin and its network work, how the blockchain operates, understands nodes and everything, that's simply a plus, but that doesn't mean those who don't know these things can't use Bitcoin or become a part of the overall network. As long as someone knows how to use a wallet, how to send and receive coins, how to use exchanges, etc., they are good.

People who are generally interested in Bitcoin and how it works will slowly learn everything because they will surely keep doing some research about how it all works, and they will find out everything over time. When I first started using Bitcoin, I also didn't know anything about it, but over time, I learned almost everything, and now I even know how the blockchain works and stuff. So, it's a gradual process, and it's not even necessary, but over time, people will learn everything if they are interested in them.

[Lida93]

When Bitcoin started before it gained popularity, people who were engaging in Bitcoin back then were majorly interested in how it works and the brain behind it, but right now the large number of Bitcoin adopters are more concerned about profit than any other thing. As long as they know the basis they no longer consider any other thing valuable they leave those interested and the core team to handle that.

It was natural that it had to flow in that way as it would always for any newly introduced investments asset. People would want to dig into it's credibility and potentiality to succeed in the long term, being an asset. Right now, bitcoin has proven itself beyond that stage of distrust, and what people now care about is how they can maximise profits through it. The trust has already being tested and proven.