Do people really understand Bitcoin?

Do people really understand Bitcoin?

Anonymous
May 11th, 2017


Bitcoin is difficult to understand for a lot of people because they don’t really understand how money works in the first place. People are so used to using fiat currency that they just know it works as a way to get stuff from people. They don’t really understand how it works, in terms of why it has value, how much of it there is, how it is made, if the bank actually has the money they say they do, etc. People get confused, and put off by bitcoin because to really “understand” it you would need to be well versed in cryptography, tech, and economics, and maybe even more. It is difficult to understand it completely, but you don’t have to understand something to use it and to gain value out of something. Right now the consumer facing technology for bitcoin is a bit more raw than the other technologies people use, so this makes people think it is harder to understand. People don’t really understand how email works, how the internet works, how the US Dollar works, but we are able to use them easily without understanding them.