{"id":268,"date":"2014-05-16T00:33:00","date_gmt":"2014-05-16T00:33:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/why-simplicity-is-best-for-bitcoin\/"},"modified":"2014-05-16T00:33:00","modified_gmt":"2014-05-16T00:33:00","slug":"why-simplicity-is-best-for-bitcoin","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/05\/why-simplicity-is-best-for-bitcoin.html","title":{"rendered":"Why simplicity is best for bitcoin growth"},"content":{"rendered":"<p><strong>With the many people who have boarded the bitcoin train<br \/>\nlately, and bitcoin acceptance growing each and every day, security is<br \/>\nstill of paramount concern and for those new to bitcoin or wondering<br \/>\nabout buying some, there are still many doubts and uncertainties, which<br \/>\nhang over them.<\/strong><\/p>\n<p><img decoding=\"async\" alt=\"Bitcoin questions\" border=\"0\" data-cfsrc=\"http:\/\/bitscan.com\/sites\/bitscan\/media\/397.jpg\" data-cfstyle=\"float: right;\" src=\"http:\/\/bitscan.com\/sites\/bitscan\/media\/397.jpg\" style=\"float: right;\" title=\"Bitcoin questions\" width=\"300\" \/>(<a href=\"http:\/\/bitscan.com\/articles\/why-simplicity-is-best-for-bitcoin-growth\">BitScan<\/a>) Bitcoin<br \/>\n is a fascinating&nbsp;technology and our job as users is to keep it safe. I<br \/>\nhad a friend tell me this weekend that <a href=\"https:\/\/holytransaction.com\/page\/what-is-bitcoin\">bitcoin<\/a> was \u201ctoo hard for people<br \/>\nto learn.\u201d I reminded him that email is used by so many people and that<br \/>\nless than 10% of those who use it, understand it all. The same will go<br \/>\nfor bitcoin.<\/p>\n<p>Often these newcomers to bitcoin are overwhelmed with<\/p>\n<ul>\n<li>facts and figures<\/li>\n<li>hash rates<\/li>\n<li>difficulty<\/li>\n<li><a href=\"http:\/\/bitscan.com\/articles\/the-pros-and-cons-of-brainwallets\">brain wallets<\/a><\/li>\n<li>blockchain<\/li>\n<li><a href=\"http:\/\/bitscan.com\/articles\/cold-storage-how-to-safely-store-bitcoin\">cold storage<\/a><\/li>\n<li>private keys<\/li>\n<li>the list goes on<\/li>\n<\/ul>\n<p>It is not surprising it all sounds too complex to even begin to understand and get involved.<\/p>\n<p><strong>The email analogy<\/strong><\/p>\n<p>Imagine if I had told you when email was starting that there was this<br \/>\n cool electronic mail available now and I think you should check it out.<br \/>\n To that, you ask, \u201cHow does it work?\u201d I could answer you in two ways:<\/p>\n<p>1. \u201cYou type out a message, put in the intended recipients address, and click send.\u201d Or<\/p>\n<p>2. \u201cTo start, you go to your mail user agent, or your MUA. You<br \/>\naddress your message to the intended recipient and click the &#8220;send&#8221;<br \/>\nbutton. This causes the MUA to format the message using Simple Mail<br \/>\nTransfer Protocol, or SMTP and delivers the message to a local mail<br \/>\nsubmission agent, an MSA that is located at an SMTP address that is run<br \/>\nby your ISP.<\/p>\n<p><img decoding=\"async\" alt=\"email and bitcoin\" border=\"0\" data-cfsrc=\"http:\/\/bitscan.com\/sites\/bitscan\/media\/398.jpg\" data-cfstyle=\"float: left;\" src=\"http:\/\/bitscan.com\/sites\/bitscan\/media\/398.jpg\" style=\"float: left;\" title=\"email and bitcoin\" width=\"300\" \/><\/p>\n<p>Your MSA looks at the destination address provided in the SMTP<br \/>\nprotocol, starting with the part before the @ sign, which is the local<br \/>\npart of the address and often a username, and then the part after the @<br \/>\nsign, which is a domain name. The MSA resolves a domain name to<br \/>\ndetermine the fully qualified domain name of the mail server in the<br \/>\nDomain Name System or DNS. The DNS server responds with any MX records<br \/>\nthat are listed as the mail exchange servers for that domain.<\/p>\n<p>SMTP transfers the message and your recipient then needs to press the<br \/>\n &#8220;get mail&#8221; button in his MUA, which picks up the message using either<br \/>\nPost Office Protocol also named POP3 or the Internet Message Access<br \/>\nProtocol or IMAP. It\u2019s easy as pie!\u201d<\/p>\n<p>I wonder how many of us would have forged ahead with email had the<br \/>\nsecond version been the usual explanation given. Bitcoin is still in its<br \/>\n infancy and products will be coming along as well as solutions to make<br \/>\nit easier on the user. Much like Outlook and Google made email easier,<br \/>\nso too will product developers and businesses make bitcoin easier.<\/p>\n<p><strong>Keep It Simple<\/strong><\/p>\n<p>So, when talking bitcoin, keep it simple.<\/p>\n<div style=\"text-align: center;\">\n<strong>Think about what it can be used for and how it can benefit the newcomer: <\/strong><\/div>\n<div style=\"text-align: center;\">\n<strong>that It is potentially the future of commerce, it is instantly transferred anywhere in the world for a low fee <\/strong><\/div>\n<div style=\"text-align: center;\">\n<strong>and it provides a way for you to become your own bank.<\/strong><\/div>\n<div style=\"text-align: center;\">\n<\/div>\n<div style=\"text-align: left;\">\nExtra details can be added as required and if the interest is there.<\/div>\n<div style=\"text-align: left;\">\n<\/div>\n<p><strong>Allaying Fears<\/strong><\/p>\n<p>One of the main worries that anybody, new to or expert in bitcoin<br \/>\nhas, is over security and potential theft. With hackers and their tools<br \/>\ngetting better and faster with each day, we must protect ourselves now<br \/>\nbefore it it\u2019s too late.<\/p>\n<p>First, line of defense is a <a href=\"http:\/\/bitscan.com\/articles\/safety-first-securing-your-password\">secure password<\/a>.<br \/>\n NEVER use the same password on more than one site. You may end up<br \/>\ngiving a scammer universal access. So now they have your bitcoin, and<br \/>\npasswords to all your online wallets, exchanges, email and more.<\/p>\n<p>An easy and free solution might be LastPass. It is a simple and<br \/>\neffective way to manage all of your passwords as it stores your entire<br \/>\npassword, encrypted on your device and all you need is to remember one<br \/>\nmaster password. There are other options as well. Do a search for<br \/>\npassword managers and make sure they are secure and reputable.<\/p>\n<p>The take away here is every password you have should be unique, at<br \/>\nleast 15 characters with some of each upper and lower case letters,<br \/>\nnumbers and symbols, and not contain dictionary words, names or places.<\/p>\n<p>There are other safety steps that can be taken including storing bitcoin offline or in a <a href=\"http:\/\/bitscan.com\/articles\/security\/rock-scissors-paper-wallets\">paper wallet<\/a>. See what the creator of&nbsp;bitcoinpaperwallet.com has to say <a href=\"http:\/\/bitscan.com\/articles\/features\/interview-with-the-man-behind-bitcoinpaperwallet.com\">here<\/a>.<br \/>\n All these measures can be used when greater amounts of bitcoin are<br \/>\ninvolved but for ease of use for a new user with a small amount, finding<br \/>\n the best bitcoin wallet or wallet app is key.<\/p>\n<p>Your Bitcoin Wallet is like the wallet in your pocket &#8211; except you<br \/>\nhave the private key for that wallet &#8211; so it is incredibly difficult for<br \/>\n anyone to steal your wallet and make use of the bitcoin without your<br \/>\nprivate key.<\/p>\n<p><strong>Together <\/strong><\/p>\n<p>The more people who are encouraged to adopt bitcoin, the stronger and<br \/>\n more normal it becomes. There are no regulators for bitcoin,<br \/>\ndecentralization means that the bitcoin community has to keep its own<br \/>\nhouse in order. By sharing information and spreading the word the<br \/>\ncommunity can help bitcoin in its progress. By helping each other stay<br \/>\nsafe, the bitcoin horror stories can be kept to a minimum. <\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>With the many people who have boarded the bitcoin train lately, and bitcoin acceptance growing each and every day, security is still of paramount concern and for those new to bitcoin or wondering about buying some, there are still many doubts and uncertainties, which hang over them. (BitScan) Bitcoin is a fascinating&nbsp;technology and our job [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":852,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,337,679],"tags":[764,1012,1332],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why simplicity is best for bitcoin growth -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2014\/05\/why-simplicity-is-best-for-bitcoin.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why simplicity is best for bitcoin growth\" \/>\n<meta property=\"og:description\" content=\"With the many people who have boarded the bitcoin train lately, and bitcoin acceptance growing each and every day, security is still of paramount concern and for those new to bitcoin or wondering about buying some, there are still many doubts and uncertainties, which hang over them. 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