Do you realize that you are an economist without a degree?

Davidvictorson

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Quote from: Falconer on June 17, 2022, 04:56:32 AM

Have you ever noticed it and thought about it just before you went to sleep?

Bitcoin has forced me to become a lay economist. The first thing is that, I get challenged every day mentally to think rationally. I am getting better at working with data in the crypto space. This data is useful to make critical decisions when decisions need to be made. The other thing I have noticed is that my level of curiosity has increased for bitcoin. I often get lost reading information related to the market.

TelolettOm

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Does when we think about the economy, its progress, problems, and maybe some solutions make us an economist? Especially if it's only in our own environment or only for ourselves?
Well, I am not sure whether I am an economist or not in this case, but certainly, no matter what, our lives will not be separated from theory and practice like economic problems.
However, afaik, as what I read here:

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An economist is an expert who studies the relationship between a society's resources and its production or output, using a number of different indicators, in order to predict future trends.

source: https://www.investopedia.com/terms/e/economist.asp
So, I may not be an economist Cheesy

But, not being an economist doesn't mean we don't think about various things related to economic activities, we certainly do that every day, but in different ways, methods, thoughts, considerations, and benchmarks.

lalabotax

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Maybe this is very normal and natural to happen to some people who are open-minded. Everyone's mindset is different. There are times when the person just wants to earn money and focus on achieving it regardless of how developments are developing and various news and updates related to the economy and finance. On the other hand, there are those of us who, like you, have learned over time from experience as well as from various sources related to this knowledge. why? This is why I say because I am open-minded to something new, so it doesn't matter if we have an economic base or not. As long as we are curious and want to find out, we can learn a lot and develop our knowledge.

_BlackStar

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Quote from: Falconer on June 18, 2022, 02:27:38 PM

Lol, we might be faking it. - Cheesy

I don't expect that, we just do what we have to do and that's according to our ability and understanding of a topic of discussion. It really doesn't make sense for someone to comment on something they don't understand very well because it's actually conscious spam. Even though quite a lot of people are doing this practice, most of their posts will be reported and deleted due to poor quality.

We need to talk about what we understand even if we are not experts. We study, read and try to explain well even though our educational backgrounds are different. So let's keep it simple.

Quote from: Mpamaegbu on June 19, 2022, 02:54:37 AM

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Let me know if this thread isn't worth it on this board, I'll move it if it's appropriate.

Well, if not on this board the other should be Economics Board.

I agree, this thread is probably good on the economics board.

Mpamaegbu

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Quote from: Falconer on June 17, 2022, 04:56:32 AM

It might be stupid to ask a question like this, but I can think that it's a fact that happens to most people here.

It's not a stupid question. I'm sure many of us here never had a degree in Economics or even studied it at high school but here we are today, trading and plotting charts and all that. I think economics itself is part of man's life, whether as a field of learning or as reality (like what we have here). If a major part of man's struggle on earth revolves round putting food on the table, then it's economics at work. Part of the reason Bitcoin was birthed was to make that economics easier and to a greater extent we can say that Satoshi aim is being met.

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Let me know if this thread isn't worth it on this board, I'll move it if it's appropriate.

Well, if not on this board the other should be Economics Board.

Falconer

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So it is true that we have different standards of knowledge about how we understand and discuss economics. I agree with some of the opinions of what you said in my thread, so even though we are not or never deserve to be economists without a degree, we have been taught a lot by bitcoin. But personally I would also never self-proclaimed economist without a degree because I haven't gotten to that level yet.

Lol, we might be faking it. - Cheesy

Saint-loup

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I think you mustn't confuse an economist and a trader. Trading is not a science, not even a soft one, it sounds more a gamble game actually where best traders are supposed to manage to evaluate in the best way the risk/reward ratio of current positions of the market. They present Technical Analysis as a science but up to now I've never encountered a table with the statistics of each pattern for the BTC market. Some gurus were saying the 200 wMA has the best risk-reward ratio for long orders, with almost 0 risk but the so called unbreakable support zone, has been destroyed today.

NotATether

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Not exactly true. Sure, you learn some price analysis, some things about inflation and money printing, but that isn't the only topics of economics. There's also the theories on buying and selling, markets, supply & demand and other stuff that you'd find in a standard economics textbook but not on crypto news sites and Bitcointalk (and for the record, I am a "pretender" economist for the most part - I don't have an economics degree).

_BlackStar

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There are many things we can learn from bitcoin, that's the main point. You don't have to be an economist to buy, trade and invest in bitcoin and you're also free to discuss anything about it as long as it's constructive and not misleading. Educational background will only set us apart in a theoretical presentation on an issue, but I believe bitcoin is for anyone regardless of their educational background.

I wouldn't say I'm an expert even if I understand a few things, but I'm sure I'm one of the majority of people who think that knowledge can be acquired even without a degree. But most importantly, we don't have to be economists to own bitcoin regardless of the purpose. We are not economists because the majority of us are market participants for this decentralized currency system economy.

kawetsriyanto

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Quote from: Rockstarguy on June 17, 2022, 04:43:33 PM

One don't need to study economics in the university to be economist, life is about planning to make good management, so one needs to think and reason like an economist . Every income that comes into the pocket one would always think of how to use it to solve some financial burdens. We all practice economics in our everyday life, we work to generate money, make plans to save some money.

If you mean a professional economist, it should require a special study in the university. We cannot deny that it needs evidence to prove that someone is truly a professional economist. It is proof that he/she already got a special education in the economic sector. It is different from a self-taught economist like us, we probably only have a little knowledge about economics subjects. And a true economist's ability isn't tested yet on us. So, a study is needed, don't deny it, mate!!

TheNineClub

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Quote from: Falconer on June 17, 2022, 04:56:32 AM

It might be stupid to ask a question like this, but I can think that it's a fact that happens to most people here.

I sometimes laugh when reflecting on fill my brain on bitcoin which has taught me a lot about economics, investing, currency trading and many other things. I analyze, do research, predict and talk about economics which was never really my subject in school or college. My experience and that of others have taught me many things, my interest in reading has increased and my curiosity about the situation and development of the world economy has made me gain knowledge and these are some of the things that make me think that, there are many people here also seem to be the same because in fact they are is an economist without a degree.

Have you ever noticed it and thought about it just before you went to sleep?

Let me know if this thread isn't worth it on this board, I'll move it if it's appropriate.

Boy I wish rhat were the case, that most people here invest the time and effort into educating themselves on economics in general, but I don't think that's the case. In general most crypto investors just don't do the sam ethings you do and just invest blindly. I wish we could get more people to educate themselvs before doing any investing.

dataispower

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I can attest to that and directly for the forum. Many people have learnt many things concerning management through cryptocurrency trading and cryptocurrency investment both long and short term. Ordinarily we do management in our previous families and environment. It does not mean that before you became good economist you most be a degree holder, many of us learnt good management from organization and home we can from, so going to university or high college is just a satisfaction of government requirements concerning managerial function and activities

KingsDen

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