has bitcoin become too simplistic?

[rodskee]

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?

[Hazink]

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

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.

[SatoPrincess]

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’d consider it a success. When I think about bitcoin adoption on a global scale I think about people using bitcoin as a currency, as an asset and an hedge against inflation. I don’t expect everyone to know the technical side of bitcoin, knowing the basis of how bitcoin works and how to protect their coins is enough in my opinion.

[Russlenat]

Those who buy and hold for a long time usually understand what Bitcoin really is. Otherwise, they wouldn’t have the trust or patience to hold it that long. Maybe you’re just overthinking. Bitcoin isn’t that complicated if you actually take the time to learn it. Just try a simple transaction, learn how to use a wallet, and check the blockchain. For a regular user, that’s already enough, no need to dig too deep IMO.

[Donneski]

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 think what’s happening is natural for every form of innovation that grows beyond its niche. At the early stage of Bitcoin people dig into the technicals, the philosophy and the details but as it spreads, it becomes more of a tool than a topic. Most people don’t understand how the internet protocol works yet they use the internet every day and that’s what adoption looks like.

So maybe Bitcoin getting simplistic is just a sign that it’s maturing and becoming part of normal life.

[Zoomic]

The number of people that has embraced bitcoin doesn't actually make it simpler to understand. What actually happened is that there are alot of ways to learn about bitcoin. Unlike those times that even google does not carry enough information about bitcoin, but not a simple search or chatgpt could do some wonderful work explaining bitcoin.

Secondly, those early days was mainly decentralisation according to Satoshi's proposal. But today, centralization has encroached so much and diluted how we learn and perceived bitcoin now.

[Vaculin]

Realistically speaking, we don't need to complicate things over bitcoin. Even the basic knowledge with buying, selling and hodling are good enough. And if everyone has understood it already, that's already considered a success for bitcoin, and for us the bitcoiners.

However, if you want to maximize your potentials on how to earn bitcoin, its normal for us to learn more so we can gain more. It's not bad to create deep analysis with bitcoin and obtain extensive knowledge because that will surely increase our earning potentials for bitcoin. Consistency is the key.

[Churchillvv]

I’m sure in the early days of gold, people cared more about how it came about and its insect knowledge while some even when as far as discovering new ways to mine it but as time went further till this day people only care about it as store of value and how much profit it could return and the status physical Gold gives when you put it on.

As well as bitcoin will be, early days we cared more about its advanced tech, wanted to know more and mine it ourselves today, it’s getting to the future we always talked about, people will only care about its profit, the status it gives when it’s said you have some number of bitcoin, or you’re a bitcoiner, etc.

Just like the first scenario Gold is a success as we know so as bitcoin is becoming a success too.

[Hardyrobust]

I will consider it a success as long as they have a basic knowledge of bitcoin. There are  investors with large holdings that doesn't have technical knowledge about bitcoin but since they have a good enough of it in there holding, they can be said to be successful. As long as we do have an understanding of how bitcoin works and then we are able to appreciate it worth. The most important thing is having a good bitcoin holdings, been technically inclined without a reason amount of bitcoin in ones holding to me I think it is not really a success. It is amount of it we have in our holdings that will determine our success.

[Majestic-milf]

 It's not everyone that would take out time to learn the nitty gritty of Bitcoin past the fact that it can be used as a means to pay for goods and services. Yeah, it can be said that Bitcoin is becoming more simplistic but I believe this thought is for those who only want to use it for payment and not for something long-term like hodling because you can't venture into trading without knowing what Bitcoin is all about since that would only set you up for failure and an inability to make progress or growth.
 The main reason Bitcoin was created was do that individuals can do their business transactions without the interference of a third party but that's a tip of what makes Bitcoin unique but like I said, not everyone has that time to discover more.

[tbct_mt2]

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

People don't need to fully understand Bitcoin to use the blockchain with bitcoins they have. It's important to learn basics of Bitcoin blockchain including how to choose good wallets for storing bitcoins and have full controls of your coins.

If they don't store their coins on centralized exchanges, but store their coins in non custodial and open source wallets, it's good and they are good to go with other things like wallet backups, wallet passphrases, wallet passwords as well as how to use coin control features for choosing UTXOs for spending. That's enough to start and use Bitcoin blockchain safely, later if they want privacy and anonymity, they can learn more about these things.

It's unnecessary to learn about everything before your start.
General learnings: Bitcoin information & resources.

Security and privacy learnings:
Wallet recommendations.
Security advice.
Privacy advice.

[Joy- maker]

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 would consider it to be a success, and the simplicity of bitcoin is the point of adoption, because it's not necessarily we know the technical aspects of bitcoin before we can be called bitcoin enthusiasts, knowing only the basic of bitcoin and how to buy, hold and secure your bitcoin is enough if you ask me, and you should know this by now that no everybody are into technical things, most people are Zero in that aspect, so for that case everybody must not know the technical aspects of bitcoin before we can them bitcoin believers, they are believers since they are already buying bitcoin and holding it in their wallets for long term, and also transacting with it.

[Despairo]

Yeah Bitcoin is too simplistic now.

But, everything are the same. People also don't know if banks actually didn't own as much money as we have deposit, people don't know how do credible is digital gold, they thought if the company hold our gold.

That's why, it's not surprising the simplistic make people didn't understand with decentralization, they hold their coins in CEX and say Bitcoin is decentralized which no one able to touch their coins.

Personally I think it's not a success, they have to learn at least reach intermediate level where they understand decentralization and know how to use Bitcoin in fully decentralized.

[Findingnemo]

~
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?

People no need to know about technical like what is the Segregated Witness data from the signature of TX and how it made the block size bigger in virtual byte. But they should know how bitcoin works like atleast know how to confirm whether the TX is included in a mined block by searching with TX id on block explorer.

And should know how to keep the funds safe in a non-custodial wallet instead of an exchange but I don't think it happened yet. More than half of the people I interact with still lacks this basic things and it's too alien for then to understand, they buy bitcoin and keep it in the exchange until they decide to sell the back.

[Outhue]

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?

Bitcoin is working exactly for what it was build for, that's a huge success, technical part? There are different reasons to choose Bitcoin, from payment option to adoption reasons and even store of value, people don't even need to know how to run a Bitcoin node, unless they have a reason to, how is this not a big success?

[Patikno]

Well, I believe simplicity is the core of Bitcoin adoption. If people begin to understand the fundamentals of Bitcoin, then that is success, or the beginning of success. Essentially, if a large number of people understand the fundamentals of a new technology, they will use it widely, and adoption will begin to occur on a large scale, for any technology, including Bitcoin. For example, let us look at how vehicle technology began, initially, the creator created it with complexity, and then refined it to make it easy for many people to use. People began to understand and try it, and people began to adopt it. So, the question arises, do all vehicle owners (buyers) understand the complex parts of it? I don't think so, most of them only know the basics.

[Pmalek]

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.   

[hd49728]

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

I don't think that Bitcoin is too complicated to learn, and use it practically. People need to learn but learning about Bitcoin is not too hard, even with the elderly. It's like sending a letter from their home to another house of another people. There are steps of entering the receiver address, choose the fee rate, pay the fee, and finalize the transaction, it's not too difficult and complex to learn.

The barrier is whether people want to learn or don't want to learn. If they want to learn, even complicated things can be learned while as said Bitcoin is not such complicated.

Many resources to learn about Bitcoin from fundamentals to advance.
https://learnmeabitcoin.com/beginners/
https://learnmeabitcoin.com/technical/
https://www.lopp.net/bitcoin-information.html
https://www.lopp.net/lightning-information

[Helena Yu]

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.   

But in Bitcoin you're supposed to do all the thing alone.

If someone don't know engine car and how to fix it, we can go to car service.
If someone have a trouble with their debit card, they can go to banks.

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.

[tsaroz]

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 that's a problem and its not absolutely required to know about how bitcoin works for people to transact in bitcoin. And I believe satoshi had similar vision.
There are multiple ways people could contribute to bitcoin but for its use, satoshi envisioned a way where the users don't even need to run the node for transacting. It's a proof that satoshi wanted bitcoin to be as simple as it can be for the users who just want to send or receive coins.
Similarly, with the limitations on number of coins, it was intended to be an asset that could gain in price with increasing time. Here he clearly states

In this sense, it's more typical of a precious metal. Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes. As the number of users grows, the value per coin increases. It has the potential for a positive feedback loop; as users increase, the value goes up, which could attract more users to take advantage of the increasing value.

So the coin was intended from stat to be rising in value. So bitcoin is exactly acting as it was supposed to.