I recently watched the movie Goosebumps 2 with my kids and Bitcoin was once again mentioned briefly in this movie. The one boy mentioned Bitcoin and the other boy called it Nerd money.
So it got me thinking, why would people label Bitcoin as Nerd money, when people use electronic payment options like PayPal every day? What feature about Bitcoin gives people this impression about Bitcoin?
The main problem with bitcoin is that it confuses people. There are easier solutions like coinbase and xapo which works just like PayPal, deposit your funds and transfer world wide, in PayPal you send fiat while in the other you need to convert your fiat to bitcoin or any other coin you are willing to purchase and everyone must be aware of the risk if you are keeping your funds with a third party even if you have not invested in it as you are hearing about the hacks that is being carried out in this market. Since there are these intricate things to look after, it confuses people and come up with conclusions.