About a month ago, I reported that more than half of Americans have no clue what Bitcoin is. While Bitcoin is becoming more and more popular, people are increasingly starting to learn about the cryptocurrency. However, for the average person, it’s still quite confusing.
Funny or Die’s “WTF is Bitcoin?” video parodies the “What is Bitcoin?” video from We Use Coins, and essentially describes how the average person understands Bitcoin after a few hours or less of research.
Click on the image below to see the video (sorry, couldn’t get embedding to work for Funny or Die).
It’s a pretty accurate representation of how the average person understands Bitcoin, and it’s a problem. Bitcoin can’t expect to become widely accepted without people understanding how it works or what it even is. While We Use Coins tries to explain Bitcoin in laymen terms, it can still be intimidating and confusing for many.
The original “What is Bitcoin?” video:
[embedvideo id=”Um63OQz3bjo” website=”youtube”]
Hopefully as Bitcoin continues to increase in popularity, people will become more and more interested, and as such will take greater effort in trying to understand what Bitcoin is and how it works. Furthermore, Bitcoin needs to be “friendlier” to the average person. Places like r/bitcoin on Reddit aren’t the most welcoming to newbies.
I really don’t think that Bitcoin can be ignored. I think that people will eventually have no choice but to learn how Bitcoin works, because it really is that revolutionary and successful. But making the learning process easier definitely wouldn’t hurt.