Bitcoin = Nerd money or not? | Bitcointalksearch.org

Abiky

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The technology behind Bitcoin can be a bit hard to comprehend for the older generation individuals. I have seen people struggling to understand the difference between the wallet address and private keys (initially). Hardware wallets have made storing Bitcoin easier for them, but even using a hardware wallet needs a lot of training and a few important precautions needs to be taken.

Exactly. But even so, developers are making wallets that have user-friendliness in mind which allows ordinary people to easily make use of Bitcoin without hassles. As you've said earlier, hardware wallets have been the ones with such user-friendliness. Still, these wallets provide a seed to the individual, which could result in losses by misuse of it. However, with proper education about how Bitcoin works for the mainstream world, I'm sure that most people will use Bitcoin in the same way as any other known traditional currency to date.

Despite this, Bitcoin is still nerd money since it implements some features which are not suitable for non tech-savvy people. Multi-signature addresses, mixers/tumblers, and even the Replace-by-Fee features of Bitcoin, are not in use by the average Joe. But, the time will come when Bitcoin becomes easier enough for the mainstream world to use.

Once this happens, then Bitcoin's title of "Nerd Money" would be no more. Instead, Bitcoin will be known as the "people's currency" or a store of value which anyone around the world can make use of it without hassles. Nonetheless, it will take some time before Bitcoin becomes fully known by the mainstream world. Just my thoughts Grin

Marcus yoyo

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I will only give my view of why bitcoin is called nerdy money. I think bitcoin is nicknamed so because Bitcoin was created from intelligent people who have extensive and deep knowledge. While the knowledge itself comes from books. People who like to read books (nerds) then have broad insight and intelligent thinking. That's my prediction why bitcoin can be said as nerdy money. I am actually proud if Bitcoin is said to be a bookworm means that bitcoin was created based on mature thinking.

Abiky

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Quote from: CryptoBry on June 08, 2019, 12:28:29 PM

There is a learning curve with cryptocurrency and people of older generations may have a hard time understanding how this new thing works -- hell there are even many of them who don't have the basic model of a cellphone yet. This is the reason why I don't believe that bitcoin will be the global currency and that we can eliminate fiat money not unless a global decree will force people to use it. of course, governments will not allow that to happen. The term "nerd money" perception can be true with population who are not updated with things new and bitcoin is one of the many modern innovations that many people don't know of and don't care. But I believe that we are slowly getting into the time when bitcoin will be known as the new people's money.

That's certainly true, mate. I believe that the only way to make people use digital currencies more thoroughly would be if governments enforce their usage. Right now, that seems to be almost impossible given that physical money is in use worldwide. However, once the government eliminates physical cash and converts it into a digital currency, then people will have no choice but to begin using this new breakthrough technology.

Older generations will still have a hard time understanding this. But, future generations will become accustomed to the technology, that they will adopt the latest trends in the same. This will probably take some time, as changes happen at a slow pace. The same thing happened with the Internet, where it took some time before people began using it more thoroughly. As time went by, now the Internet has become a necessity where even our elders make use of it.

Nonetheless, Bitcoin is still "Nerd Money" until it becomes easy enough for the whole world to use. With proper education, and collaboration from governments worldwide, Bitcoin and other cryptocurrencies may grow in terms of mainstream adoption. Just my thoughts Grin

Ryan Dugan

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If nerd is what they call people engaging to bitcoins, investing and making profits out of it, knowing its advantages and taking the risks, then we totally are nerds. Hahaha. I will be proud to be called nerd specially if this "nerd money" they referring to will be the way to make me successful, to make us successful and rich someday. Grin

Same on me, if it takes to be called as nerd to be rich I would love to be a nerd it is not actually an offending word people are just making fun of the word that makes it bad.

Nerd is such an old word. People still use geek but now geeks are cool. (cosplay, gaming, comics, movies etc etc etc) So nerd is just someone who knows a lot about difficult subjects or something? Like thick glasses fiddling with a pc like one of the people from the 70s or 80s. Back then you had to know a lot about computers. Nowadays everything has an interface and great GUI easy to use. Super fast and smooth. SO much happens in the background we don't even know about. Technology has become something we all rely on now. So I guess being a nerd has become so mainstream that the word has no meaning anymore.

CryptoBry

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Quote from: Abiky on June 05, 2019, 07:51:31 PM

That's certainly true, mate. Old generations would find it difficult to adopt Bitcoin for daily use. They're not widely familiar with technological stuff, unlike millennials. Since old generations are used to paper money, they tend to trust it more than anything else. In terms of ease of use, traditional payment processors are still much easier to use than Bitcoin. But, this will change over time as developers continue to improve the user experience of Bitcoin wallets. Within a few years from now, it'll be easier to send/receive Bitcoin without any technical knowledge involved. Given that nowadays there is some technical knowledge required to perform multisig transactions, and more, Bitcoin is still "Nerd Money" to most people in the mainstream world. Nonetheless, the perception of Bitcoin as "Nerd Money" greatly depends on the person itself. Some people will find it easy to use, while others will have a hard time understanding it. Education is key here, in order to help drive Bitcoin towards mainstream adoption. Just my opinion

There is a learning curve with cryptocurrency and people of older generations may have a hard time understanding how this new thing works -- hell there are even many of them who don't have the basic model of a cellphone yet. This is the reason why I don't believe that bitcoin will be the global currency and that we can eliminate fiat money not unless a global decree will force people to use it. of course, governments will not allow that to happen. The term "nerd money" perception can be true with population who are not updated with things new and bitcoin is one of the many modern innovations that many people don't know of and don't care. But I believe that we are slowly getting into the time when bitcoin will be known as the new people's money.

Abiky

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Quote from: Netnox on May 31, 2019, 01:47:11 PM

Bitcoin is sometimes termed as "Nerd money", because for elderly and middle-aged people the concept of crypto can be a bit difficult to grasp. Internet money (Paypal, Visa.etc) is not as complex as Bitcoin and therefore there is no point in comparing them with BTC. But as the old generation dies out, this hesitation for crypto is going to vanish.

That's certainly true, mate. Old generations would find it difficult to adopt Bitcoin for daily use. They're not widely familiar with technological stuff, unlike millennials. Since old generations are used to paper money, they tend to trust it more than anything else. In terms of ease of use, traditional payment processors are still much easier to use than Bitcoin. But, this will change over time as developers continue to improve the user experience of Bitcoin wallets.

Within a few years from now, it'll be easier to send/receive Bitcoin without any technical knowledge involved. Given that nowadays there is some technical knowledge required to perform multisig transactions, and more, Bitcoin is still "Nerd Money" to most people in the mainstream world.

Nonetheless, the perception of Bitcoin as "Nerd Money" greatly depends on the person itself. Some people will find it easy to use, while others will have a hard time understanding it. Education is key here, in order to help drive Bitcoin towards mainstream adoption. Just my opinion

XFlowZion

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Bitcoin does not center around the world of nerds. Bitcoin is for everyone. And we better thank nerds because most of the tech that we use are created by them. They alloted so much time studying things so they can improve our lives for the better. But if I need to choose if it is a nerd money or darknet money then I will choose nerd money.

squatter

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Guys, please stop bumping this thread. This subject has already been authoritatively decided.

Yes, Bitcoin = nerd money. See this post for confirmation:

Quote from: squatter on February 04, 2019, 05:33:18 PM

wumBowo

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Quote from: Netnox on May 31, 2019, 01:47:11 PM

Quote from: rdbase on May 29, 2019, 07:11:11 PM

It wont be called that once everybody is holding it and using it as their everyday currency.

I think back when the very first iteration of internet money was introduced. They called it just that too. Cheesy

Bitcoin is sometimes termed as "Nerd money", because for elderly and middle-aged people the concept of crypto can be a bit difficult to grasp. Internet money (Paypal, Visa.etc) is not as complex as Bitcoin and therefore there is no point in comparing them with BTC. But as the old generation dies out, this hesitation for crypto is going to vanish.

agreed, it might be called nerd money just because not all generations can grasp it very well. I have a friends here who have the same ages with me (~20), even though they dont have any idea what bitcoin is, they still can learn and adapt it well and don't have any significant problem.

Netnox

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Quote from: rdbase on May 29, 2019, 07:11:11 PM

It wont be called that once everybody is holding it and using it as their everyday currency.

I think back when the very first iteration of internet money was introduced. They called it just that too. Cheesy

Bitcoin is sometimes termed as "Nerd money", because for elderly and middle-aged people the concept of crypto can be a bit difficult to grasp. Internet money (Paypal, Visa.etc) is not as complex as Bitcoin and therefore there is no point in comparing them with BTC. But as the old generation dies out, this hesitation for crypto is going to vanish.

Abiky

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Quote from: Kakmakr on May 30, 2019, 03:10:03 AM

Well, based on the majority of the responses here, it seems as though most people agree that Bitcoin is not just for nerds. Wink

I think a lot of people said the same thing about the Internet back in the day when we used to communicate via dialup access and BBS's. >

New technologies have a way of scaring away people who are just too lazy to think and to figure out complex things on their own. Spoonfeeding has become the norm and loads of people want user-friendly GUI interfaces with 1click solutions. Gone are the days when people had to spend a little effort to gain new knowledge, they want other people to do the hard grafting and then they want to sit on the side and criticize and label people. Roll Eyes

Somehow, Bitcoin can be considered "Nerd Money" as there are certain areas which require some technical knowledge. Of course, nowadays it's becoming easier for users to send/receive Bitcoin because developers have made wallets much more friendlier via the use of a GUI. Still though, for certain aspects like establishing a full node, or mining Bitcoin, you'd need to be tech-savvy in order to do this.

Things aside, it's true that new technologies scare people away because they're too lazy to figure out things on their own. The same thing happened with the Internet quite some time ago, but nowadays it's a mainstream technology used by nearly anyone in the world. Bitcoin needs some time in order for people to become accustomed to it. As the cryptocurrency improves over time, things will become much easier for the average Joe towards using Bitcoin more thoroughly.

Nonetheless, I hope that Bitcoin becomes as much friendlier to the user as possible in order to increase its adoption within the mainstream world. Just my thoughts Grin

bitbunnny

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Quote from: acroman08 on May 26, 2019, 03:30:47 PM

well, I don't know how to respond to that since everyone with the basic the knowledge of bitcoin can use it.
knowing a thing or two about bitcoin wont make you automatically a nerd. I know they meant
the "nerd money" as an insult but I am actually kind of proud that I am part of something big
and people who don't know and what it is results to insulting just to make them feel good about
themselves.

Exactly, you don't be some super expert to use and understand Bitcoin. Just a little effort to get basic understanding how it's functioning. I don't think that Bitcoin is meant to be reserved for some kind of ellites in any sense but for broad masses and so it's should be. New technologies of all kind can't be avoided anymore in our everyday lives, including cryptocurrencies, so.I think everyone should keep the track.

Innerpumper

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it's wrong. I sure, bitcoin is good currency. in previous time, many people use bitcoin for IIlegal transactions like, deep web or dark web. But, now bitcoin can be invesment methode, like, ICO, STO, IEO, etc. so, bitcoin not nerd money

iGotSpots

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Quote from: leea-1334 on May 26, 2019, 04:02:29 AM

Quote from: iGotSpots on May 25, 2019, 11:32:37 PM

Bitcoin community started to suck a big bag of dicks when it stopped being a community of nerds and evolved into this pool of human filth that has found their way in

Wow,,, I know there are so many elitists in the community but I thought people had gotten a bit of humility at this stage.

Yes,,, I agree there just so many idiots in the space but really to call people human filth when they are a lot of the part of reason Bitcoin got so big, means you should reevaluate your reflection of people in Bitcoin. If it was only nerd money would it be worth this much today?

Bottom of the barrel

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Quote from: Kakmakr on February 04, 2019, 02:47:17 AM

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. Roll Eyes

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 first thing that comes to mind is the technical IT knowledge that people need to understand the concept about this technology and also it's origin amongst very highly skilled programmers and developers in the IT industry.

I am definitely not a nerd, but I am more than willing to carry that label, if it means that Bitcoin should be part of my skill and knowledge set in this world. Grin

Bitcoin Nerds will rule this world!

People should not all the time believe in whatever they saw and heard in a movie, you should also teach that to your children, people who created that movie are the real nerd, in the future the producer and the director will regret calling Bitcoin money for the nerd, because all the people in the world will eventually use Bitcoin.

Kakmakr

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Well, based on the majority of the responses here, it seems as though most people agree that Bitcoin is not just for nerds. Wink

I think a lot of people said the same thing about the Internet back in the day when we used to communicate via dialup access and BBS's. >

New technologies have a way of scaring away people who are just too lazy to think and to figure out complex things on their own. Spoonfeeding has become the norm and loads of people want user-friendly GUI interfaces with 1click solutions. Gone are the days when people had to spend a little effort to gain new knowledge, they want other people to do the hard grafting and then they want to sit on the side and criticize and label people. Roll Eyes

iMark

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Quote from: Jating on February 04, 2019, 03:57:04 AM

Then I wouldn't mind people calling us Nerds. Grin

I guess it has something to do with the "technology" behind bitcoin. It was money written in "codes" by Satoshi, that's why it can be reference as nerd money. There's a lot of technicalities behind, like wallet's, privatekeys, hashes, TX and other things that a non-tech people can't fully understand in the beginning.

Because bitcoin is different from currencies, generally uses code, anonymity, decentralization, etc. that makes bitcoin very unique. and they call it a nerd? I am not offended by that at all. they just feel foreign to bitcoin, they won't call it again when bitcoin becomes mainstream, and world technology is sophisticated already

ghost424

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Quote from: Kakmakr on February 04, 2019, 02:47:17 AM

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. Roll Eyes

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 first thing that comes to mind is the technical IT knowledge that people need to understand the concept about this technology and also it's origin amongst very highly skilled programmers and developers in the IT industry.

I am definitely not a nerd, but I am more than willing to carry that label, if it means that Bitcoin should be part of my skill and knowledge set in this world. Grin

Bitcoin Nerds will rule this world!

That was a nice feat for Bitcoin because it is gaining popularity and being televised or placed in a segment of a movie will help the platform of Bitcoin to be improved. If its called nerd money, then a lot of people would be proud to be called a nerd because they are gaining money in a way of thinking. Bitcoin is not for those people who wants instant money but it is for people who also want to work hard and gain it thru hardships.

FlightyPouch

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Does this mean I am a nerd? I don't think so. I am not a nerd, I am a normie, I know I am that is the reason I'm not a nerd and that can be a proof that bitcoin is not money for nerds nor currency that nerds only use. I think they are just calling that since there is a lot of things that should be learned and that they can't cope with that. Bitcoin can be used by anyone that wants it to use, it is not just for nerds.

rdbase

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It wont be called that once everybody is holding it and using it as their everyday currency.

I think back when the very first iteration of internet money was introduced. They called it just that too. Cheesy

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