According to a research carried out by Rutgers University, while the technology’s new users were put off by its perceived complexity, more experienced users generally displayed poor understanding of how Bitcoin works and overestimated how much privacy it offers.
The questions revealed that, of the 10 non-users, four had never heard about Bitcoin while the remaining six were aware of it based only on information gleaned from the media or social networks. Perhaps as a result, many of the non-users perceived the digital currency as being technically complicated and foreign.
Additionally, some users mistakenly believed that Bitcoin has faster transaction speeds than other electronic payment methods, the team said, citing credit cards as having greater bandwidth.
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