tldr; A GoMining survey reveals that 70% of Bitcoin users feel overwhelmed by its complexity, with 66% struggling to explain its basics. Key challenges include understanding Bitcoin mining (28%) and technical terms (22%). Only 9.6% feel confident explaining Bitcoin like a pro. Many users desire step-by-step guides (36%) and short videos (31%) to improve understanding. The educational gap is seen as a barrier to broader adoption, despite Bitcoin’s growing popularity and institutional interest.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Thomas5020 on
30% of users understanding how it works is really good in my eyes.
How many understanding nothing about banking?
zerooneinfinity on
90% of people don’t understand how microwaves work.
It doesn’t really matter if they understand how it works since they won’t be using it for anything besides holding and then eventually selling. Even that’s a stretch these days as more institutions gobble up supply, people will just dump their crypto allotment into those institutions and will never directly interact with the cryptocurrency space.
jeremiahcp on
What’s so hard to understand about DCA and hold?
OderWieOderWatJunge on
Depends on how deep the understanding must be. I think maybe 1% know exactly how it works. You need a lot of math and computer science knowledge
Blarghnog on
Not everyone who uses the dollar understands how it works either, and it’s *not a requirement to use it.*
All they need to know is how to buy and hold it, and that it’s sweet, sweet freedom.
hotchy1 on
I dont i just buy it when its low 😂
ilfollevolo on
Let’s see: it goes up and it makes free money to those who have it, then they sell it driving the price down and filling their pockets to buy it again. Did I understand correctly? Before anybody impales me it’s SATIRE!
babypho on
Dont need to. Just need to see green, up, and read articles that only agrees with me.
8888-8844 on
99% of fiat holders don’t understand how it works.
protomenace on
Meh.
90+% of automobile users don’t understand how they work
95+% of computer users don’t understand how they work
Hell most US Dollar users don’t understand how that works either.
kirtash93 on
I still dont understand how fiat works so…
chocolateboomslang on
More than 70% of driver’s have no idea how a car works.
70% of people have no idea how a debit card works
Basically, who cares?
Chaminade64 on
They’re not really users, they’re speculators. And seriously, how many people who truly understand Cryptocurrency actually use it? It’s an investment for most.
lycheedorito on
I’m also assuming most people don’t know how their computers work, or how the Internet works, or how their shower works, or how their bank works, or how their car works, etc.
ResistEfficiently on
„users“ means what exactly? Lol
tooandto on
99% of everybody understands nothing about how anything works. Look around.
“Think about how stupid the average person is, and realize half of them are stupider than that.” -George Carlin
ResistEfficiently on
The amount of people in this comment section insinuating Bitcoin has the exact same level of complexity to the common consumer as fiat does is fucking hilarious.
Certain_Cranberry_77 on
70% of users understands hopium.
Necessary-Low-5226 on
I’ve been reading about it since late 2012 and with every year I think I understand less of it
En4cr on
I mean the average cryptocurrency investor has the brain power of a toddler so 30% is basically a miracle.
MinimalGravitas on
Well yes, obviously. The number of people who obliviously advise DCAing BTC into a hardware without ever mentioning how this multiplies your transaction fees when you want to move it in the future shows how little the average advocate understands even the most basics of how the chain works.
Honest question for bitcoiners here: what is a UTxO and why does that explain the problem with DCA causing high fees later?
Mooks79 on
Most people don’t know how a car works, they just use it. The real story here is that 30% do understand and that’s a _huge_ number which means we’re still relatively early and in the enthusiast stage.
PqqMo on
90% of car users don’t know how cars work
zesushv on
99% of fiat users don’t understand how money works.
armaver on
They probably mean people who buy and keep BTC on exchanges. Not users.
Fuhrious520 on
I bet at least 70% of people dont understand how fiat currency works
Slay_Nation on
95% of the world’s population don’t understand how money or capitalism work
lVloogie on
I don’t know how 99.99% of the world works. Not needing to know how any crypto really works to use it is when it has succeeded.
light_death-note on
People don’t understand how most things work.
DrSpeckles on
The perpetuated idea that you need to understand it is something really holding it back.
The fact that you have to understand so many things to safely use or hold it is the other.
Few-Education-5613 on
I don’t care, I need a boat!
turribledood on
What percent of CC/Debit card users understand how VISANet works?
Creative_Ad_8338 on
Bitcoin „works“?
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38 Kommentare
90% don’t know how money works either
tldr; A GoMining survey reveals that 70% of Bitcoin users feel overwhelmed by its complexity, with 66% struggling to explain its basics. Key challenges include understanding Bitcoin mining (28%) and technical terms (22%). Only 9.6% feel confident explaining Bitcoin like a pro. Many users desire step-by-step guides (36%) and short videos (31%) to improve understanding. The educational gap is seen as a barrier to broader adoption, despite Bitcoin’s growing popularity and institutional interest.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
30% of users understanding how it works is really good in my eyes.
How many understanding nothing about banking?
90% of people don’t understand how microwaves work.
then watch this video: [https://www.youtube.com/watch?v=bBC-nXj3Ng4](https://www.youtube.com/watch?v=bBC-nXj3Ng4)
We can get to 99%. Don’t give up, boys.
It doesn’t really matter if they understand how it works since they won’t be using it for anything besides holding and then eventually selling. Even that’s a stretch these days as more institutions gobble up supply, people will just dump their crypto allotment into those institutions and will never directly interact with the cryptocurrency space.
What’s so hard to understand about DCA and hold?
Depends on how deep the understanding must be. I think maybe 1% know exactly how it works. You need a lot of math and computer science knowledge
Not everyone who uses the dollar understands how it works either, and it’s *not a requirement to use it.*
All they need to know is how to buy and hold it, and that it’s sweet, sweet freedom.
I dont i just buy it when its low 😂
Let’s see: it goes up and it makes free money to those who have it, then they sell it driving the price down and filling their pockets to buy it again. Did I understand correctly? Before anybody impales me it’s SATIRE!
Dont need to. Just need to see green, up, and read articles that only agrees with me.
99% of fiat holders don’t understand how it works.
Meh.
90+% of automobile users don’t understand how they work
95+% of computer users don’t understand how they work
Hell most US Dollar users don’t understand how that works either.
I still dont understand how fiat works so…
More than 70% of driver’s have no idea how a car works.
70% of people have no idea how a debit card works
Basically, who cares?
They’re not really users, they’re speculators. And seriously, how many people who truly understand Cryptocurrency actually use it? It’s an investment for most.
I’m also assuming most people don’t know how their computers work, or how the Internet works, or how their shower works, or how their bank works, or how their car works, etc.
„users“ means what exactly? Lol
99% of everybody understands nothing about how anything works. Look around.
“Think about how stupid the average person is, and realize half of them are stupider than that.” -George Carlin
The amount of people in this comment section insinuating Bitcoin has the exact same level of complexity to the common consumer as fiat does is fucking hilarious.
70% of users understands hopium.
I’ve been reading about it since late 2012 and with every year I think I understand less of it
I mean the average cryptocurrency investor has the brain power of a toddler so 30% is basically a miracle.
Well yes, obviously. The number of people who obliviously advise DCAing BTC into a hardware without ever mentioning how this multiplies your transaction fees when you want to move it in the future shows how little the average advocate understands even the most basics of how the chain works.
Honest question for bitcoiners here: what is a UTxO and why does that explain the problem with DCA causing high fees later?
Most people don’t know how a car works, they just use it. The real story here is that 30% do understand and that’s a _huge_ number which means we’re still relatively early and in the enthusiast stage.
90% of car users don’t know how cars work
99% of fiat users don’t understand how money works.
They probably mean people who buy and keep BTC on exchanges. Not users.
I bet at least 70% of people dont understand how fiat currency works
95% of the world’s population don’t understand how money or capitalism work
I don’t know how 99.99% of the world works. Not needing to know how any crypto really works to use it is when it has succeeded.
People don’t understand how most things work.
The perpetuated idea that you need to understand it is something really holding it back.
The fact that you have to understand so many things to safely use or hold it is the other.
I don’t care, I need a boat!
What percent of CC/Debit card users understand how VISANet works?
Bitcoin „works“?