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Posted October 1, 2019
You can use your iPhone or Droid to do many wonderful things without knowing anything about how they work or who built the software. Billions of people do this trillions of times a day. Why does anyone think billions of people are going to read a book to know how to use Bitcoin?
The idea that people need to know the theories behind Bitcoin or who wrote it is absurd. This artificial requirement and recommendation is only for the extreme stratospheric reaches of the global elite (Bitcoin Twitter) but not for the public, who shouldn’t be required to think.
All consumer electronics are similarly layered with generations of innovation and super complex concepts and techniques. The “Smart TV” is a perfect example. https://youtube.com/watch?v=yZV46Q_yTs0 what this represents is incomprehensible to all but a tiny handful of experts yet millions use it.
For Bitcoin to succeed, it too must packaged in a way that removes the need for anyone to understand how it works. There is nothing wrong with this, and it will be a difficult task to achieve. Rest assured it will get done, because the need for Bitcoin is greater than you think.
Once people experience just how simple it is to send money with Bitcoin, they’ll never EVER return to the horrific experience of dealing with banks and their terrible, horrible, invasive, insulting, broken tools and services. And you don’t need to have read Hayek to know that!