Most of this world doesn't even know what "encrypted wallet" or "dropbox" is. Most of this world sees no problem surfing to random porn sites on the same computer where they install all their Bitcoin apps. Most of this world ignores error messages from their computer, such as "your antivirus has expired".
Security for a real wallet involves keeping it out of others' hands. Security for a digital wallet is completely different.
Topic: Bitcoin is unfair to the non tech-savvy - page 7. (Read 7493 times)
You've got two people in the BTC world. The ones who are just pissed because they weren't an early adopter and the ones who are scared to dip their toes into Bitcoin.
You can't fix the first one but you can make BTC easier to work with by educating people instead of laughing them away. Having a BTC wallet is the same as a physical wallet (obviously with the exception of it being digital), you need to apply your own security practices that you would in real life. I see a lot of people complain about loosing their funds and eventually you find out it was because of their own error, IE uploading an unencrypted wallet file to Dropbox and then having their Dropbox account compromised.
You can't fix the first one but you can make BTC easier to work with by educating people instead of laughing them away. Having a BTC wallet is the same as a physical wallet (obviously with the exception of it being digital), you need to apply your own security practices that you would in real life. I see a lot of people complain about loosing their funds and eventually you find out it was because of their own error, IE uploading an unencrypted wallet file to Dropbox and then having their Dropbox account compromised.
Most people don't pay attention to security of banking, because all transactions are revocable with USD. If their funds are stolen, they complain to the bank and they get it back. Options moving forward are 1) Make BTC transactions revocable, 2) Make wallets unhackable, 3) Let the common person deal with a revocable asset backed by Bitcoin rather than Bitcoin itself, 4) Educate the consumer on security best practices.
I don't think #1 or #2 are feasible. I don't think #4 is realistic if we want mass adoption.
I don't think #1 or #2 are feasible. I don't think #4 is realistic if we want mass adoption.
I think there's some truth to this. I recently convinced my aunt to buy bitcoin. Just setting up a Coinbase account on her phone (because her computer is full of viruses) took hours. And further hours of me on the phone with her. Finally I just bought the coins for her and I'm trying to get her Coinbase account secure enough to send the coins to her. It is WAY too difficult for somebody in their 70s.
I have no problem with idiots and emotionally unstable individuals not profiting off the investment of a lifetime.
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It's Money 2.0| It’s gold for nerds | It's Bitcoin
I don't think that BTC is unfair towards the non tech--savvy. The non tech savvy can just understand the economic concept and the concept of how BTC is a currency. Rather than understanding the Blockchain and the Algorithms behind it.
Exactly, IMHO those who see the long term potential of bitcoin generally do so more due to understanding of economics and how governments manipulate money than due to mathematical savvy.
People who see and question the government intervention and corruption tend to latch on to bitcoin in my experience. Those who don't will one day just complain when btc reaches the moon.
Somehow agree, securing the wallet itself can be difficulty for some people.
not applicable if they get a coinbase account.
I don't get people who complain about having missed the boat on bitcoin. There are many penny stocks or sometimes even regular stocks that go up a lot more than bitcoin. So what? You can still trade it and profit from it.
I have never seen a penny stock or regular stock grow the equivalent of 12 million% in 4 years like bitcoin. Correct me if I am wrong.
penny stock bursts are much shorter. I give you the example of CYNK-it was 10c on June 10 and $20 a couple of days ago-20000% in a month.
Of course, SEC shut it down temporarily on Fri (and possibly rightly so if it was just a scheme)
To the original OP: tell your classmates to get in at the "45 degree angle" to quote one Gordon Gekko before all those ETFs (COIN), hedge funds (GABI) and trusts (BIT) deploy.
Bitcoin doesn't give a shit.
I don't think that BTC is unfair towards the non tech--savvy. The non tech savvy can just understand the economic concept and the concept of how BTC is a currency. Rather than understanding the Blockchain and the Algorithms behind it.
Exactly, IMHO those who see the long term potential of bitcoin generally do so more due to understanding of economics and how governments manipulate money than due to mathematical savvy.
People who see and question the government intervention and corruption tend to latch on to bitcoin in my experience. Those who don't will one day just complain when btc reaches the moon.
Internet is unfair to the non tech-savvy (nt)
Non tech-savvy needs to learn.
None of us is born with knowledge.
None of us is born with knowledge.
its not unfair, they're just stupid. and stupid people like to complain about things being rigged or unfair to justify their mistakes. I'm not tech savvy any more than any other 30 year old. i just know a good thing when i see it.
Bitcoin is not unfair to anyone. It's a piece of software by it's own. It won't discriminate against you and me.
I don't think that BTC is unfair towards the non tech--savvy. The non tech savvy can just understand the economic concept and the concept of how BTC is a currency. Rather than understanding the Blockchain and the Algorithms behind it.
I must admit. the word bitcoin is never interesting to me back then the fact that they call it "coin" so the value must just be pennies. Thus reason the might not have to interest to google it
I don't get people who complain about having missed the boat on bitcoin. There are many penny stocks or sometimes even regular stocks that go up a lot more than bitcoin. So what? You can still trade it and profit from it.
I have never seen a penny stock or regular stock grow the equivalent of 12 million% in 4 years like bitcoin. Correct me if I am wrong.
The only difference is that penny stocks get dumped, but bitcoin continues to get pumped. However, every year there are a good number of penny stocks that outperform bitcoin, not suggesting it's wise to buy those relative to bitcoin - but there are many.
Yes of course. But my point was that people complaining about having missed the boat on bitcoin are right. Bitcoin will never see again the explosive growth of the last few years. Even if it goes to $40000, it will only be 7000% growth versus several millions% in the past. Still pretty good if it happens but the best is behind.
Bitcoin traders are sometimes accused of unfairly profiting from an opaque asset beyond the understanding of ordinary people.
http://www.newyorker.com/online/blogs/currency/2014/07/bidding-on-bitcoin.html
Yesterday I met a couple of my old classmates on the street. They asked about Bitcoin and started to whine that most people don't understand the mathematical fundamentals behind Bitcoin and therefore had no realistic chance to invest when it was cheap. Of course, I encouraged them to invest now (better late than never) but seems that people generally rather enjoy wallowing in their own self-pity than take steps to adapt and overcome.
http://www.newyorker.com/online/blogs/currency/2014/07/bidding-on-bitcoin.html
Yesterday I met a couple of my old classmates on the street. They asked about Bitcoin and started to whine that most people don't understand the mathematical fundamentals behind Bitcoin and therefore had no realistic chance to invest when it was cheap. Of course, I encouraged them to invest now (better late than never) but seems that people generally rather enjoy wallowing in their own self-pity than take steps to adapt and overcome.
This is such a load of bull. All the information needed is right there in front of their noses for free on the internet. All it takes is a little will and some effort, but that is probably the heart of their problem... I'd guess that most people wouldn't have invested a single dollar even if they knew about bitcoin in 2009, it would have been a too risky an investment for them.
In 2010 I thought about buying a few thousand bitcoins but ended up not doing it, simply because I hadn't done my homework. It is my own fault completely. And those who did buy back then deserve every penny they have made on their investment, they are the reason why bitcoin didn't just die as the crazy internet geekery it was.
Those who bitch now, will bitch at every bubble all the way to the moon. There is nothing we can do to save them from their laziness and self pity. They only have themselves to blame.
Somehow agree, securing the wallet itself can be difficulty for some people.
The internet is too techy for most pople to understand, it will never get big.
10 years later: OMG, did you see my photo of my pet dog?
People use internet banking when they don't understand it, and more people will use bitcoin at the software gets more user friendly and the ideas bed down in people's minds. It's early days yet.
10 years later: OMG, did you see my photo of my pet dog?
People use internet banking when they don't understand it, and more people will use bitcoin at the software gets more user friendly and the ideas bed down in people's minds. It's early days yet.
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