Bitcoin is too complex for the average person

[noobtrader]

Bitcoin is too complex for the average person

What? average person does not need to know anything about it besides that he can pay with it

this is how average ppl end up losing bitcoin... they need to know how to backup ther wallet at least

[jeffhuys]

Bitcoin is too complex for the average person

What? average person does not need to know anything about it besides that he can pay with it

this is how average ppl end up losing bitcoin... they need to know how to backup ther wallet at least

Which could be as simple as "backing up" your CC.

[redHairy]

Bitcoin is too complex for the average person

What? average person does not need to know anything about it besides that he can pay with it

this is how average ppl end up losing bitcoin... they need to know how to backup ther wallet at least

the main causes to wallet problem are:
1) many ppl lost/forgot theyr password: are no longer able to login or they lost password after wallet encryption.
2) many ppl do not undertand well how to handle wallet.dat file.

[galbros]

I think this may be true, though all you need is a smartphone, and I think they can handle that.

A bigger danger is things like "every address and its corresponding private key is on the internet" that will scare the crap out of the average person and make them think their money is not safe or will not be safe in the future.

[Netnox]

Try Getgems, made with the main goal of being simple to use.

[coinpr0n]

It is too complex for the average person. And beyond much cultural understanding too... if people still don't use banks in some lesser-developed countries because they don't trust them (literally) then they sure aren't going to trust their money to an app on their phone.

[caga]

The only thing I don't understand about it is the price . Its 260 now, and in 10 minutes it got pumped up to here.
Hpw in the world does this happen ?

[MakingMoneyHoney]

The only thing I don't understand about it is the price . Its 260 now, and in 10 minutes it got pumped up to here.
Hpw in the world does this happen ?

The Wall Street Journal article that just popped up, maybe?


BIT Poised to Become Publicly Traded Bitcoin Fund
Fund has been racing against rival offering from Cameron and Tyler Winklevoss

http://www.wsj.com/articles/bitcoin-investment-trust-gets-finras-ok-to-become-public-bitcoin-fund-1425242094

[jabo38]

the average person is what drives the world.  Bitcoiners are idiots for making a niche target that only works for and is understood by 0.001% of the world.  Until Bitcoin changes its language and gets some easy to use apps, it will continue to be a laggard.

[Beliathon]

The only thing I don't understand about it is the price . Its 260 now, and in 10 minutes it got pumped up to here.
Hpw in the world does this happen ?

Same way it will rise to 2600 later, and 26,000 some time after that, and so on.

[noobtrader]

Bitcoin is too complex for the average person

What? average person does not need to know anything about it besides that he can pay with it

this is how average ppl end up losing bitcoin... they need to know how to backup ther wallet at least

Which could be as simple as "backing up" your CC.

Credit Card ?

how ? if I lost my CC, or i lost my pin,  i just call my bank and request another one.  what happen if i lost my bitcoin pin or wallet ? call bitcoin foundation ?

[innocent93]

I agree, even the exchange can't make sure their coins is safe from the hackers, coins security will be one of the biggest problem in Bitcoin development.

[zvs]

Anyone ever got the feeling that Bitcoin is too complex for the average person? The average person wants things as simple as possible, so when the word, Blockchain, Decentralization, etc, come into play, I feel that makes it too complicated for the average person to understand or even care.

yah, that's why I sold all mine at $8

[noobtrader]

Anyone ever got the feeling that Bitcoin is too complex for the average person? The average person wants things as simple as possible, so when the word, Blockchain, Decentralization, etc, come into play, I feel that makes it too complicated for the average person to understand or even care.

yah, that's why I sold all mine at $8

why sold all ?
i bought potcoin and when it price doubled i sell more than half  but not all, essentially i own free potcoin. why sell all ?

[noobtrader]

I agree, even the exchange can't make sure their coins is safe from the hackers, coins security will be one of the biggest problem in Bitcoin development.

i assume that next we have bank style bitcoin

[zvs]

Anyone ever got the feeling that Bitcoin is too complex for the average person? The average person wants things as simple as possible, so when the word, Blockchain, Decentralization, etc, come into play, I feel that makes it too complicated for the average person to understand or even care.

yah, that's why I sold all mine at $8

why sold all ?
i bought potcoin and when it price doubled i sell more than half  but not all, essentially i own free potcoin. why sell all ?

for the same reason I sold all my Xcelera (XLA), I guess

[calme]

My grandma just asked me to set aside a week so that I can train her how to sign in to websites (the username and password boxes). She's been trying for weeks to figure it out. She is financially successful, has travelled from country to country and so on, but the supposed complexity of this is just terrorizing her to the core.

[RedhatCAT]

Bitcoins are really simple, just download the app and start receiving and sending money!

Credit cards are way more complex, with plastic cards and pos readers and shitty modules and hidden commissions and cloning and so...

agree with this one, credit card is more complex, yet many people using that for daily transaction
I hope many "average person" will try to understand bitcoin and using it for daily transaction in the future

Well the difference between bitcoin and credit cards in this regard is that if someone messes up the security of their credit card (eg their credit card number somehow leaks) then the issuing bank will protect them from losses, however if someone messes up the security with their bitcoin (eg their private key leaks) then their money will be gone forever.

[johnyj]

It is the nature of bitcoin and every one who want to use bitcoin at large scale must understand the underlying complexity to increase the security and avoid loss

Except blockchain, there are no definite truth on internet, every truth could be a fake in user's local network segment, so there are numerous ways to do phishing or man in the middle attack on bitcoin: Fake websites, fake clients, fake identities... Users must have a good understanding about what security risks are involved in a bitcoin transaction, and that is getting harder each day when bitcoin becomes more valuable and popular

There will be security firms that specialized in handling bitcoin security, or education to increase the user's awareness of security risk

[noobtrader]

There will be security firms that specialized in handling bitcoin security, or education to increase the user's awareness of security risk

agree, its inevitable if the price of bitcoin will reach, say 100.000 usd per btc