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    Author Topic: BitCoin Is Too Complicated for Average People!  (Read 4500 times)

    • imteaz (OP)
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    November 03, 2017, 03:17:53 AM
    Last edit: November 03, 2017, 01:16:43 PM by imteaz
     #1
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..

    When you use Bank or Online banking, If you have any problem, you can actually go to branch or call the customer service fix the problem, Bitcoin have no phone number, no branch, no one to contact if anything goes wrong.

    The desktop wallet are too complicated to use, it has some weird functionality, such as MEW, every time you login, you have to use key chain, or a file as your private key and password, when you get a get it doesn't not show on your account, you actually have to add custom, which is really confusing sometimes. And i always hear people ger hacked, their balanced is gone. which is really scary after all these security in your wallet? strange!

    Bitcoin does not have their own official site, so lots of people visit other junk/spam/hacking site, think it is bitcoin site and can get help.

    It's really hard to buy bitcoin in certain country, such as Canada. Yes i know you can buy from coin base, but they do not allow more than $100 bitcoin per week, and we are not allowed to sell. Lots of people other thread offered local bitcoin, but when bitcoin price is $6800, they sell it on $7800, That's $1000 extra plus 5% fees of the amount. Why people have to pay that much money extra to buy bitcoin? why don't they have an official site, where you can buy in current price?

    Why most of the exchange does not allow you to buy bitcoin with USD? 99% time you have to transfer money to exchange to do trading or to buy alt coin, which is really a headache. So you tell me, all these problem, why would a normal average people, who doesn't have enough time will invest bitcoin or any other coin? This is rea reason i believe we see the market cap in crypto currency under $200 billion. If it was easy to use, for normal people it would have jump to Trillion dollar.

  • ebliever
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    November 03, 2017, 03:36:51 AM
     #2
    There are many services that make it easy to buy and use Bitcoin, and further development along those lines is going on all the time.  Keep in mind you don't need to understand the Federal Reserve and all the details about the banking system, credit card systems and so forth to use dollars. It's the same way with Bitcoin.

    Signing up with Coinbase or Gemini is no more difficult than getting an account anywhere else, and linking a bank account to them is no different than setting up auto-payments for things like a mortgage bill. As far as fees go, if you are paying 5-7% you are doing it wrong. For example you can do an ACH transfer from your bank to Coinbase, transfer the money from Coinbase to GDAX when it arrives, set a limit order on GDAX to buy your bitcoin, and then transfer it to your personal wallet. The fees for doing all of that? Exactly 0 satoshis/cents.
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  • placergold
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    November 03, 2017, 03:38:37 AM
     #3
    Not at all, I feel it is so simple the bitcoin, it's almost like visa lol.

    Just treat it as regular money.

  • Metoo.14
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    November 03, 2017, 03:42:16 AM
     #4
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..
    It's not complicated for ordinary people, you are trying to make it complicated. Do you worry about fees for transactions? Do not worry because no one will help you free.

  • iamTom123
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    November 03, 2017, 04:00:02 AM
     #5
    Quote
    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it. What is your opinion on it? Discuss...

    The thing here is that there is no official Bitcoin site much more  selling Bitcoin at lower fees. You see, this has been one of the many problems that is boggling Bitcoin since time immemorial and we are still waiting for the adequate solutions that can take this problem head on. High fees are actually anathema to Bitcoin as it is supposed to be efficient and low on fees (at least compared to traditional money transfer protocols).

    Nonetheless, Bitcoin is not really that so complicated to get into as long as you are not focusing so much on its multi-faceted technical aspects. Just simplify things and you can see the bigger picture here. Of course, as in anything in life, there would always be some learning curve especially if a person is still unbaptized with Bitcoin. We have no choice but to learn and anybody can do it slowly no rush at all so no information overload can crop up.

    Bitcoin and cryptocurrency is evolving and is now considered to be a very exciting and pulsating field of concern. In fact, there are now schools offering courses on this matter and they are getting to be popular with students.

  • OMGyasuo
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    November 03, 2017, 04:04:08 AM
     #6
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..
    that's right. I also think it is quite complicated. It takes a lot of time to get used to it. I think in order to get acquainted with it quickly, new entrants to invest btc should learn some knowledge and how to make deals from people they know. That will save time.

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    November 03, 2017, 04:06:50 AM
     #7
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..

    Like you said the bitcoin transaction fees is not suitable for the normal people but in future the value of the bitcoin will be many times than the value while he bought that so its ok to pay some fees.
    I don't think it is hard to know about these things like where to buy and where to store we are humans we will know there things by daily using that we dont have facebook or other social media before 20 years so we learned how to do that now.So everyone will learn soon how to use buy the bitcoin and how to store them in a wallet.

  • pooya87
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    November 03, 2017, 04:09:52 AM
     #8
    i agree that bitcoin is complicated but that is only because bitcoin is different, it is no longer like what we used to do before bitcoin like using banks, using services like Paypal,... now we are having all of them in one place. we are our own bank. and that makes it a bit complicated for newcomers to adapt.

    but i strongly disagree with saying bitcoin is "too complicated".
    and you talk a lot about buying fees, but that has nothing to do with bitcoin being complicated or not! that is just the fee that some third party service is taking in order to take your worthless fiat and give you valuable bitcoin Wink

  • r0nald82
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    November 03, 2017, 04:10:01 AM
     #9
    i dont see the complicated thing about bitcoin if you associated it with wallet, trading, fee etc. People who said that it's too complicated means they easily give up before try doing it or it's language problem things  Grin because every time you wanna make wallet for example the website certainly include tutorial how to create wallet in their website so everyone knows how to do it. Fees etc?simple thing to understand it is like taxes for your transaction.
    And as addition every people i met will understand what is bitcoin if you explain it to them

  • GreenBits
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    November 03, 2017, 04:15:16 AM
     #10
    Quote from: OMGyasuo on November 03, 2017, 04:04:08 AM
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..
    that's right. I also think it is quite complicated. It takes a lot of time to get used to it. I think in order to get acquainted with it quickly, new entrants to invest btc should learn some knowledge and how to make deals from people they know. That will save time.

    Im more concerned with the security aspects. As evidenced by all the hacks that happen on the board on a given day. the average person using a computer really doesnt have good security. you can have a decent virus scan, hell you can have the best virus scan. malicious programs arent the only attack vector in this space; you must also be wary of social engineering attacks. the average person has enough information on their facebook profile to have underlying account compromised, like your phone. if your phone is compromised, sometimes your 2fa via text will be compromised.

    which is as good as having your private keys Smiley

  • Rishabh riyz
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    November 03, 2017, 04:27:17 AM
     #11
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..
    This is exactly the reason forum is made for , people  new to BTC would come to know more about it by participating in the forum , they would get to know many things about BTC with different veiws from different people .

    I mean most of us came to know about BTC by this forum .the people would then invest their time on forum instead of social media sites .
    Then I don't think it would be hard for a normal person to use btc .

  • Wind_FURY
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    November 03, 2017, 04:54:20 AM
     #12
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet.

    A 5 year old kid could use the internet well these days. We live in the internet generation, we should adapt and learn or be computer illiterate. That is your choice.

    Quote
    You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    There is no way to avoid it. If you truly want to have Bitcoin as an investment, you have to pay the fees.

    Quote
    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    You will get used to it. There is a learning curve to overcome but it becomes easier. Do not worry.

    Quote
    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..

    There is a currency exchange sub forum, try to look for better deals over there. If you want a simple wallet, make an account in Blockchain.info.
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  • imteaz (OP)
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    November 03, 2017, 04:58:25 AM
     #13
    For example, I'm from Canada, and i was only able to buy bitcoin from coinbase, who has limit $100 per week, they charge 3.5% transaction fee, then when you transfer bitcoin to bittrex, they hit you with another fees, which is $5 to $7, end of the day you get $90 worth of bitcoin. I tried several other sites, which has way way high fees, not sure where you guys buy the bitcoins, i couldn't find any suitable sites yet, so i can buy bitcoin with ease.

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    November 03, 2017, 05:10:58 AM
     #14
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..
    People usually give up learning bitcoin because of the lack of knowledge in economics
    They dont understand the basic but can learn if they are willing enough to understand bitcoin. Making/Uaing a wallet, transferring and receiving is one of the main reasons people give up. They find this processess hard to understand.

  • jamirrah
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    November 03, 2017, 05:17:00 AM
     #15
    I dont definitely agree but not really disagree either when I am discussing bitcoin with my friends and how Im making money in world of cryptocurrency I find them really puzzled on what I am saying them yet in my experience since I meet bitcoins online the first time I just make my own research to have a full understanding and as time pass I learn new things. So I conclude that in crypto/btc a person just need determination to learn.

  • Wicked17
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    November 03, 2017, 05:18:49 AM
     #16
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..

    This is very complicated to a non internet user who only live using tv and cellphone but not on a user who always watch youtube and using social media. If a people is eager to learn there will be so many ways. There are so many tutorials videos in youtube on how bitcoin works and how to make bitcoin. If you want to avoid high fees in buying or selling bitcoin you need to find people and make a transaction face to face.

  • shamzblueworld
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    November 03, 2017, 05:20:36 AM
     #17
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..

    Well I kind of disagree with you. Its a new technology yes, and that is why it may take some time for people to completely know it in and out, but same thing happened when computers and launched and when smartphones were launched, and now see where we at. Even a 10 year old knows his way around these systems, so its just a matter of time and interest. People will eventually get the hang of it pretty well.

  • Virtual miner
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    November 03, 2017, 05:23:28 AM
     #18
    Quote from: imteaz on November 03, 2017, 03:17:53 AM
    Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.

    How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.

    I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make  a simple wallet for people to use, more & more people would buy and use it.
    What is your opinion on it? discuss..
    I think is not complicated but just not quite conventional people are just not able to get it when they use it for first time. Saying this I really agree that fees by exchanges and thirdparty wallets have gone way too high. Especially when you want to send small amounts of btc.

  • RoommateAgreement
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    November 03, 2017, 05:31:28 AM
     #19
    i don't think so.
    based on my experience with the "Average Joe", i see they are understanding bitcoin well enough and when it comes to using it they find it somewhat hard but not that complicated. it just takes some small time to get more familiar with bitcoin and how it works before you feel easy.
    the only thing that is complicated for average people is the price and how it moves up and down a lot. in other words the volatility and the fact that it is unpredictable.
    Buying the dip...

  • Indrawan77
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    November 03, 2017, 05:31:35 AM
     #20
    It is not too complicated, I think it is really simple to used bitcoin, nowadays a lot of websites had already implemented an easy way to buy bitcoin, and to used it, its very simple just send the amount to their recipients wallet address, if you think it is difficult to used, its means that you either misunderstand about bitcoin or you get too technical
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