When people first get into Bitcoin, there are a lot of concepts that sound simple until you actually try to understand how they work.
Things like:
- private keys vs. seed phrases
- hot wallets vs. cold wallets
- Bitcoin mining
- transaction fees
- self-custody
- the halving
- market capitalization
- why Bitcoin has a fixed supply
I'm curious: what was the Bitcoin concept that confused you the most when you were getting started?
And if you understand it now, what explanation finally made it click for you?
I think collecting simple explanations from people who have already gone through the learning process could be useful for other beginners here.