Thu Nov 05, 2015 8:12 pm

HI Ben thanks for participating!



How important is the tradeoff between security and simplicity?

One of the things difficult about new technology adoption is making new users comfortable trying it out, layer that with the psychological and financial aspect of Bitcoin and it makes it very complicated for many people to grasp.



How would you explain Bitcoin technology at this current moment to your six year old daughter and to your eighty-five year old grandfather?



Thanks again,

Tim

It's obviously one of the biggest usability challenges when you move beyond a highly technical set of users. Fortunately, there have many improvements that have reduced this as a straight trade-off. For instance, it's possible to use a multi-sig wallet that's just as easy as any other wallet, but dramatically improves security. And the development of multiple hardware wallets such as Trezor, Keepkey, Ledger, etc. makes following good security practices much easier for the average user.To an 85 year old (who still remembers the gold standard):Bitcoin is like a digital version of gold. No government can print it. It can't be counterfeited. It can't be seized from you. And you can send it anywhere in the world in an instant. Like gold, it has value because other people value it, and because of its special properties that make it a good money.To a 6 year old:Bitcoin is the real money. For some reason, you mostly still have to earn this paper monopoly money first in order to get your real money. But that will change.