Topic: Bitcoin = Nerd money or not? - page 8. (Read 1322 times)

So many formulation has been made just to describe bitcoin
Some call it internet money, blockchain gold, satoshi now nerd money.
Now it's helps the publication of bitcoin and I don't have any issue with that

It's mostly because a lot of people get used to having their hands held and guided through things.

Would you call someone who knows how to google minor issues with his computer and fix them a nerd? Or someone who can change the theme of his android phone? Even someone that knows how to use utorrent?

Because I'm sure that by a lot of societies' standards, anyone being the slightest computer savvy is considered "nerdy".

If Paypal was Windows, Bitcoin would be Linux (only in the context you wrote in the original post), mainly because of how user friendly Windows is, and how you can press a button to fetch a driver, press another button and "troubleshoot", which isn't the case for Linux.

Paypal and Bitcoin are both digital money, but one of them requires a lot more setup than the other. And people are too lazy to go through the hoops of basic bitcoin security.

I'm pretty sure I qualify as a nerd based on my hobbies and interests with Bitcoin being on of them, so I guess that counts as anecdotal evidence? I guess hanging out at a forum that is mostly focused on digital currencies is kind of a nerd activity as well so if it looks like a duck...

That being said, being a "nerd" lost most of its negative connotations over the last few decades (remember that nerd chic phase?), so I'm fine with Bitcoin being called nerd money. Let's not forget that having a personal computer and hanging out on the internet used to be "nerd stuff" as well. Heck, computer games and comics used to be "nerd stuff" before they turned into the integral part of the entertainment industry that they are today.

Nerd or what as long as I’m enjoying this technolgy no one can stop me. Bitcoin is everything now, it can really rule our system in the future so better to invest more now. Some people may find us as a greedy investors because of trusting bitcoin, maybe they don’t know yet what the real bitcoin is.

Imo a "nerd" is just someone who has a heavy interest/knowledgeable to field but the media/shows portrayed them in a stereotypical way, which is someone who's again knowledgeable in some field (typically something that involves technology) but is socially awkward, fat, unattractive, wears glasses, hence why the term is derogatory to some ppl, but I do think we're way passed that. I've been seeing some ppl declaring themselves as "nerds" and there are even articles praising them. I'm pretty sure they meant "nerd" not in the stereotypical way, if not all, most.

As for the nerd money label, I am agreeing to op and it could also be the misconception that only tech-savvies are able to use it. Additionally there's more to bitcoin than paypal, one should at least understand the basics to fully utilize it, which could be overwhelming to some ppl.

Nerd  is a person seen as overly intellectual, obsessive, introverted or lacking social skills. Such a person may spend inordinate amounts of time on unpopular, little known, or non-mainstream activities, which are generally either highly technical, abstract, or relating to topics of science fiction or fantasy, to the exclusion of more mainstream activities.

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To some extent I can agree with this definition, but not 100%. I realized that people who do not understand something often attack others and called them bad names only to justify their ignorance according to something. Many of them lack the basic IT knowledge, and cryptocurrency is scientific fantasy involving strange people or even criminals.

This is actually the psychology of the mind which is largely imposed for decades or even centuries, and is deeply rooted in people. So when you say someone about Bitcoin, that person will not find a logical justification to start using cryptocurrency instead of fiat. Security offered by banks, governments, stock exchanges or similar institutions it's still too big and powerful to attract people to continue to use them.

Being a your own bank and using decentralized currency is something that most simply can not accept, and the majority almost always looks at the minority in a weird way - it is very easy to say : You're nerd, and walk away.

Calling bitcoin a nerd money might totally not be bad, nevertheless, the nerds are certainly ruling our financial sector and will continue to be so. Although bitcoin is a work of highly intellectual homo-sapiens, hence the ordinary eyes call it nerd money.

People are still more comfortable in using paypay or fiat then bitcoin. Many of the user have bitcoin not for spending or using it but as an assets. Most of my friends have their bitcoins "safe" in their coinbase account.
They have no idea where they can use their bitcoins apart from sending and buying from exchange.

I think i know the answer in this one. The kid maybe labeled bitcoin as nerd money because its literally came from a nerd. A computer and code expert known as Satoshi Nakamoto who uses encryption to produce this cryptocurrency we use now. Thank you to this "nerd" I have extra income.

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.

Haha, I don't mind the label myself.


Most people don't understand cryptography, economics, computer programming. They don't understand how Bitcoin works, and using it can be really complicated for novices. So naturally, Bitcoin seems like it's tailor-made for nerds from an outsider's perspective.

Bitcoin is different from PayPal. With PayPal you link your card to your e-mail and that's it. If anything goes wrong, PayPal or the bank may even refund your loses.
Bitcoin is not made that easy yet. With Bitcoin if you are not careful you may lose your money (hack, lost seed, corrupted wallet files, or even installing the wrong software)  with no refund. The tools are not 100% (not even 80%) fool proof. And most explanations about why is Bitcoin so good need quite some knowledge which many could label "nerd-ish".

So yeah, I think that such a label is not so far from the truth. And I don't mind.

I first heard of Bitcoin from my friends, wasn't that interested because they explained the details of Bitcoin in an odd way, but when I made research of Bitcoin a lot were saying that it was fake until I made profit, simply by investing, and I gained a decent amount of Bitcoins and basically for me I think its kind of nerd money? In a way because people face onto their computers and just simply work, can't conclude if it should be called nerd money though.

edit: In the end it does not matter, we all are working and we all are looking for ways to earn money and for us this is our way of earning.

A lot of the early adopters might have been called nerds, coming from a technical background. It's thank to all of these people that Bitcoin is more in the mainstream than ever before and will continue to grow in adoption in all areas of life and commerce.

Well that could be a good call to start thinking about the opposite of how lowly it might have sound to be called nerd. The proof you have mentioned is a good example of how a person should not underestimate ones status in life especially if it relates to our intelligence. We learn soany things in life even from the unworthy person or from the most innocent in most minds. Being judgmental is not good let alone the child's thinking be an exemption, we must be fair in everything. So let us think of the opposite and call the nerds as the gifted one or something that would give the term a positive meaning one deserves.

Haha if ever I had a kid and asks me that, I'll say yeah I'm a nerd and I'm proud of it.

Going back to that, most of the successful and intelligent people are also called 'nerds' but they wouldn't mind that. I'm fine if someone calls me that because in this generation, there's a description and belief that nerds = smart people.

So if these folks keeps on titling bitcoin as nerd money, bitcoin's for smart people who uses smart currency(BTC).

Then I wouldn't mind people calling us Nerds. 

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.

Then we all are nerds mate! I would rather feel proud about it because not everyone is capable of achieving what bitcoin has already achieved even after being called it as a nerd money. Also nerd is not necessarily a bad thing, it is just represented in wrong way.

Like you mentioned Bill Gates - A tech nerd
Warren buffet - Finance nerd

If you start looking at the actual list of nerds in specific fields, you will see that they have achieved way more than the whole mankind had achieved in their lifetime!

They can call us nerds now, but in a few years they will call us lucky for getting in early. This is assuming that you are buying and hodling now like sensible bitcoiners

being named "nerd" money would be a blessing for bitcoin, its just the money of a certain group of people