The madness of cryptocurrency

[bornil267645]

They tried to present the crypto exactly as it is, and they gave their best shot. Pretty good one though!!!

http://www.engadget.com/2015/01/21/cryptocurrency-explainer/

[Beliathon]

Typical money is "easy to figure out" because it's a scamcoin. A couple of wealthy and powerful dudes lock themselves in a big building and print wealth out of thin air, backed by nothing but a promise that it will always be worth what it's supposed to, despite the fact that history has proven time and again that all nations, empires, and government currencies rise and fall.

Crypto is cryptic because it's actually mathematics-backed. Fiat money is an 8 inch sandcastle to the 500 foot sand dune that is bitcoin, and the tide is coming in swiftly.

https://www.youtube.com/watch?v=j2AvU2cfXRk

https://medium.com/@spc_bitcoin/accelerated-learning-for-bitcoin-ab461d4ee1b7

[turvarya]

Cryptocurrency may as well be called "cryptic currency," because it's nowhere near as easy to figure out as typical money

Why do people always say that?
Bitcoin are easy to use. The biggest problem is to buy them on an exchange and that isn't even hard, if you have ever filled out a form for e.g. a bank account.
If you want to look further into the tech and not just using it, yes, it is complicated, but so is "typical" money or online banking.

[thew3apon]

It will take a long time for people to understand why cryptos are different and beautful right now there is real appreciation of this technology. Failure to adopt these sort of transformative technologies will be a problem but it takes time.

[thejaytiesto]

Cryptocurrency may as well be called "cryptic currency," because it's nowhere near as easy to figure out as typical money

Why do people always say that?
Bitcoin are easy to use. The biggest problem is to buy them on an exchange and that isn't even hard, if you have ever filled out a form for e.g. a bank account.
If you want to look further into the tech and not just using it, yes, it is complicated, but so is "typical" money or online banking.

It's normal. For the common populace is like going from writing letters to sending them over email. It's not easy to use at all and it's all very experimental for them. Its the truth. It will change in the next 10 years tho. The concept of internet money is too mind blowing for common folk.

[Bitcoin Games]

How today's fiat is created is cryptic. Cryptic as in hidden. Cryptocurrency is open source and anyone can find out exactly how it works, and lookup any transaction.

[PaulPierce]

It will take a long time for people to understand why cryptos are different and beautful right now there is real appreciation of this technology. Failure to adopt these sort of transformative technologies will be a problem but it takes time.

Yeah it would probably take 2 to 3 more years for it to be understood n adopted by regular masses.!

[Q7]

People really need to change their mindset. Use of bitcoin is not complex as what everybody thinks it is. With lightweight wallet on your phone you can basically spend just about as normal as with fiat.

[manselr]

People really need to change their mindset. Use of bitcoin is not complex as what everybody thinks it is. With lightweight wallet on your phone you can basically spend just about as normal as with fiat.

The main problem is not even using it, but obtaining Bitcoin. Most people don't see the benefit of having to go throught the hassle of exchanging their fiat money to buy with Bitcoin, when they can do the same directly with fiat money without having to pay fees in the conversions.

[LiteCoinGuy]

Cryptocurrency may as well be called "cryptic currency," because it's nowhere near as easy to figure out as typical money

Why do people always say that?
Bitcoin are easy to use. The biggest problem is to buy them on an exchange and that isn't even hard, if you have ever filled out a form for e.g. a bank account.
If you want to look further into the tech and not just using it, yes, it is complicated, but so is "typical" money or online banking.

It's normal. For the common populace is like going from writing letters to sending them over email. It's not easy to use at all and it's all very experimental for them. Its the truth. It will change in the next 10 years tho. The concept of internet money is too mind blowing for common folk.

great to be an early adopter and a contemporary witness 

[Randian Hero]

Cryptocurrency is not "cryptic". Anyone can lookup exactly how it's created. Fiat on the other hand, nobody even knows all the details.

[caga]

Cryptocurrency is not "cryptic". Anyone can lookup exactly how it's created. Fiat on the other hand, nobody even knows all the details.

Well they know the details, but now its out of hands and published in unlimited amounts.