Education and money as the key to Bitcoin adoption. - page 3.

serjent05

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Quote from: dzungmobile on July 06, 2023, 03:54:25 AM

Quote from: Promocodeudo on July 06, 2023, 02:48:00 AM

Lack of education, technical knowledge, and awareness has been the major challenge for Bitcoin enthusiasts

I don't need to understand technical things of Bitcoin, its open source code to use it. If you want to use it, it's simple than you think. If you want to use it more effectively, learn a little bit. If you want to engage in development, learn to code with deep technical knowledge. Different Bitcoin enthusiasts, different needs and different approaches.

We still need to understand the basic procedure of Bitcoin. Because without knowing the basic technical aspect of Bitcoin, we will be worrying for nothing. Like when your transfer is delayed, you might be worrying to death especially when you send a huge amount of BTC if you don't know about the transaction fee charges and the CPNP and RBF that will enable us to hasten the confirmation of our transaction if we accidentally send the transaction with minimal fee.

Quote from: dzungmobile on July 06, 2023, 03:54:25 AM

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We know that money plays a major role in Bitcoin investment and adoption, over the time many people have complained that money has deprived them of the opportunity to partake in Bitcoin, after getting the knowledge of how the currency works, please my advice to every Bitcoin enthusiast is that no knowledge is a waste, you may not have the money to invest today, but learning about this technology is the first stage you have to cross in other to get the main thing.

You can learn with Bitcoin Testnet, use Bitcoin Testnet if you want to understand it, practice with its testnet blockchain before use it on the main chain.

This is a great advice which many of us forgotten. Most of us does not bother to use the Bitcoin testnet and immediately jump to the main net and do transactions.

Quote from: dzungmobile on July 06, 2023, 03:54:25 AM

You don't need to have money, it is not a mandatory requirement. If you have knowledge and skills, you can work to get bitcoin. You don't even have to spend money to buy it. Using money to buy bitcoin is only one of many options. Besides using your knowledge, skills about Bitcoin to work and get it, you can get it if you have a small business, a grocery and accept Bitcoin from your customers.

Money is the mandatory requirement if a person wanted to invest in Bitcoin. Even if he wanted to invest in knowledge, a person needs to buy the necessary devices to learn and process Bitcoin.

bitzizzix

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I'm sure everyone knows about bitcoin because nowadays there are a lot of advertisements on social media, television and so on and maybe because they don't understand how it works.
and this being the main reason why they don't buy bitcoin is the confusion and lack of understanding of bitcoin and the main finding is that having basic crypto knowledge is the most likely driver of adoption.
so education is a major factor and this cannot be found in school or anywhere else, and the self awareness to find and learn it on their own will allow them to use their money to buy bitcoins after realizing that bitcoin is the best investment and also the safest.
and in my opinion from time to time many bitcoin user investors continue to improve and develop, so let bitcoin run as it is because in the end everyone gets involved after realizing and finding their own way to educate about bitcoin as a whole and get involved.

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Quote from: Promocodeudo on July 06, 2023, 02:48:00 AM

Lack of education, technical knowledge, and awareness has been the major challenge for Bitcoin enthusiasts, it is high time we kick-start the mass eradication of Bitcoin illiteracy in our society, preach about Bitcoin, but don't force it on anyone,

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The sad thing is that many people know about Bitcoin but only a few gain interest while many of them just ignore it. It is important to have a proper education about crypto but also, it was very important if that person had an interest in this. Indeed, we can't force someone to adopt and use Bitcoin as currency, it was their choice either but somehow, correcting them with their negative views could help and enlighten their thinking and would possibly change their mind.

Honestly, convincing people was hard and we can't expect them to change right away but once seeing it was been used by others, this will also boost their trust and confidence.

The Cryptovator

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Starting any business, whether in real life or with Bitcoin, requires a combination of knowledge and financial resources. Both elements are essential for success. Without knowledge, money alone is insufficient, and without money, knowledge alone cannot enable you to initiate a business venture. Therefore, the same principle applies to Bitcoin. Engaging in Bitcoin investments requires both expertise and capital. It is crucial to educate oneself about Bitcoin, particularly its technical aspects, in order to effectively embrace the technology and capitalize on its potential for financial gain. Neglecting this educational aspect may lead to regrettable consequences down the line.

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Quote from: JunaidAzizi on July 10, 2023, 12:33:11 PM

Quote from: Lida93 on July 10, 2023, 09:13:52 AM

Unavailability of money is a big barrier to bitcoin adoption than lack of education.

Well, you are saying it right, but up to some extent money is not that much obstacle in investing in Bitcoin The actual problem is a lack of education and awareness about Bitcoin if a person has much money but has not been educated on how to invest or when to enter and leave than how he will gain profits instead he will be losing his all asset, on the other hand, if a person has education but have not much money then he will arrange money from somewhere where he has most hopes and invest it in bitcoin than soon he will be ragain the invested money and will return it to the person from where he holds it, As Warn Buffer says, the more you learn, the more you earn. So according to my advice, education is far more important for investment than money.

First of all, I'll sound it as a caveat, don't borrow money from anywhere to invest in bitcoin it's never advisable based on the volatility risk involved.

However, I still hold my stand that money is of more essence to education in the adoption of bitcoin. You can be educated about bitcoin and don't have the money to use the bitcoin education to your benefit, of what use would such knowledge be to you when it's not yet creating asset to you. Not until you have money to invest the education becomes idle and of no use.

See it this way, Mr A, has bitcoin education but no money at all to invest. That alone could be a discouragement to the next man who wanted to learn but remembered he has no money to invest same like Mr A. Then just imagine in the opposite direction about the next man with money to invest already available but just waiting to be educated about bitcoin. What do you think would be his next move after been educated?

BigBos

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Quote from: Promocodeudo on July 06, 2023, 02:48:00 AM

Lack of education, technical knowledge, and awareness has been the major challenge for Bitcoin enthusiasts, it is high time we kick-start the mass eradication of Bitcoin illiteracy in our society, preach about Bitcoin, but don't force it on anyone,

Such actions are not too bad but doing things like this by making continuous movements to remind and inform about the understanding of bitcoin is not as easy as imagined especially to new people who are still there who have never even heard of what bitcoin is.
I personally prefer to convince myself before others because what we do and think we are right is not necessarily in the eyes of others it is also true.
Indeed, things like this will be useful for the continuity of bitcoin and greater adoption but besides that we also need to upgrade ourselves if we really want to do learning to others.
I still don't fully know how bitcoin as a whole and I also don't want to do something that is not in accordance with my qualifications because my understanding may still be low.
We need to strengthen ourselves first so that we are not wrong in teaching others because if we make mistakes and teach others, others will automatically become wrong.

SOKO-DEKE

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Yes, I believe that the adoption of bitcoin depends heavily on both education and money. The latest technological advancements will be utterly invisible to someone who lacks knowledge, and they will struggle to comprehend them despite all attempts to explain that to them. Money is still another major barrier to widespread acceptance of Bitcoin since, despite their best efforts to listen, those who lack the money will find it difficult to use the technology owing to their limited resources.

Quote from: Promocodeudo on July 06, 2023, 02:48:00 AM

please my advice to every Bitcoin enthusiast is that no knowledge is a waste, you may not have the money to invest today, but learning about this technology is the first stage you have to cross in other to get the main thing.

It is not when we have money that we should be looking for knowledge. Having knowledge before getting money to invest always comes with a great of help because it will make us have good plans,but when money comes, some people find it hard to plans well or learn very well. So having no money to invest in Bitcoin discourages us from learning about Bitcoin technology.

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Quote from: Lida93 on July 10, 2023, 09:13:52 AM

Unavailability of money is a big barrier to bitcoin adoption than lack of education.

Well, you are saying it right, but up to some extent money is not that much obstacle in investing in Bitcoin The actual problem is a lack of education and awareness about Bitcoin if a person has much money but has not been educated on how to invest or when to enter and leave than how he will gain profits instead he will be losing his all asset, on the other hand, if a person has education but have not much money then he will arrange money from somewhere where he has most hopes and invest it in bitcoin than soon he will be ragain the invested money and will return it to the person from where he holds it, As Warn Buffer says, the more you learn, the more you earn. So according to my advice, education is far more important for investment than money.

Ojima-ojo

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Quote from: Silberman on July 07, 2023, 10:57:01 PM

I think we are reaching the point in which the lack of financial resources is a bigger barrier to entry than lack of awareness after all with how common is now to have access to the internet a lot of people are aware that Bitcoin exists, and they may have even investigated a little bit on their own about what is about, however, most people do not have the money to invest in it, whether this is because they have too many debts, they do not earn enough money or they have many expenses they simply lack the means to enter this market.

You are right in many ways because when we talk about Bitcoin education all that is needed is a mobile device with an internet function, this is very simple and Bitcoin educational materials are readily available for everyone to study and have practical involvement at will.

Quite alright the technical aspects that have to do with codes and development require special training but not everyone needs that, as an investor what is needed is the financial resources and there is no substitution to that on lack the knowledge that we can get it for free but we all need both knowledge and the funds to build a stable financial future.

PeRo

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I think that the Bitcoin community is actually where it should be in terms of adoption. Even though everybody likes to see Bitcoin grow more and more mainstream, maybe it should stay in some circle of people - not a small, closed circle but it definitely isn't for everyone and anyone. Mostly, people who are into tech or investments at some level are surely interested about Bitcoin and will definitely consider investing or using it so there is a kind of a targeted community(of course, it isn't the case with every user).

The ones that aren't that much informed or interested wont use it, so they filter themselves. Of course, we should help educate the uninformed but without pressure and then they will decide whether they are actually interested or not. So to sum it up, I would say we are doing everything in our hands and we should continue this way without added pressure.

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Quote from: Promocodeudo on July 06, 2023, 02:48:00 AM

Lack of education, technical knowledge, and awareness has been the major challenge for Bitcoin enthusiasts, it is high time we kick-start the mass eradication of Bitcoin illiteracy in our society, preach about Bitcoin, but don't force it on anyone,

Knowledge is not wasted, it should be treasured. Whether you have enough money to invest in Bitcoin or not, being knowledgeable about it will help you understand blockchain technology, the potential and risks associated with digital currency, and the development of the cryptocurrency market. Updating and expanding your knowledge is always a good investor in yourself. In addition, we should create a positive educational and information exchange environment while protecting individual rights and not forcing anyone to accept or use Bitcoin against their will.

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Adoption by People, yes, but with governments that would be regulation. Indeed knowledge is a must if we want to spread awareness in this technology but problem is not all people are just interested with this industry. Even aware individuals are not into cryptocurrency and that is by personal preference especially in an investment. Likewise with financial capacity to invest; money is indeed a necessity. But as I have mentioned these two are not enough for adoption to happen. It qill take another factor which is majority's initiative to accept and utilize usage of this blockchain with payments and by other means.

CryptoHeadlineNews

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Quote from: Promocodeudo on July 06, 2023, 02:48:00 AM

Over the time many people have complained that money has deprived them of the opportunity to partake in Bitcoin, after getting the knowledge of how the currency works, please my advice to every Bitcoin enthusiast is that no knowledge is a waste, you may not have the money to invest today, but learning about this technology is the first stage you have to cross in other to get the main thing.

Yes, I agree with you that before money, having the basic knowledge of what you intend to invest in is very important, as the more knowledgeable you are, the more likely you are to make the best decision in your intended investment, which is why I always tell people who are interested in learning about Bitcoin to first start from getting conversant with it's basic features such as being decentralized, volatile and an independent digital money, e.t.c.

Patrol69

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It is not your responsibility that you have to make your campaign about Bitcoin to increase the popularity of Bitcoin already a lot of people are involved with Bitcoin and Bitcoin is very popular. If someone asks you about Bitcoin, you can tell them about Bitcoin but you don't need to advertise. You may campaign positively about bitcoin but many people will not take your campaign well. If you try to convince people who don't understand about it, they will express bad comments against you because those who don't know about it no matter how good it is. That thing will never go over well.

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Quote from: Promocodeudo on July 06, 2023, 02:48:00 AM

Lack of education, technical knowledge, and awareness has been the major challenge for Bitcoin enthusiasts, it is high time we kick-start the mass eradication of Bitcoin illiteracy in our society, preach about Bitcoin, but don't force it on anyone,

If we chronicles through the years from 2009 to date 2023 (two decades) we can see a magnificent growth in it's adoption. There's no country in the world that bitcoin is not known or spoken of mindless of any restrictions or ban policies from the government of such country. One of the major challenge the spread of bitcoin is facing is not the literacy/educational aspect as there are individuals that have heard about bitcoin but don't have the financial power to invest in the project since when they were told.

I had a personal encounter with a stranger in a public bus sometime ago, normally am not part of those that go around preaching to people about bitcoin as a way to avoid unnecessary blames thereafter. But I was moved to talk a little about bitcoin to the stranger sitting next to me in the bus that faithful day. What struck me was when after our little chat was his response," I'll have loved to give it a try but I just don't have extra finance to invest".

Many people are battling to survive with the little that comes in handy, and it's only when you have gotten more than enough that's when you can buy the idea of investment. Unavailability of money is a big barrier to bitcoin adoption than lack of education.

franky1

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also worth noting that people should make themselves aware when idiots promote offramps to other systems and processes that give other people middlemen control and decision making permissions of payment transfer.. and avoid idiots that try to suggest that these other systems are better versions of bitcoin

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Quote from: taufik123 on July 07, 2023, 12:08:34 PM

Quote from: Wind_FURY on July 07, 2023, 11:52:50 AM

In the context of "not overselling" to onboard people, it's also very important to tell people Bitcoin's limitations and how ownership of Bitcoins require total responsibility from the person himself/herself. Lose your keys, then you lose your Bitcoins. ¯\_(ツ)_/¯

People should be ready to take responsibility to own their first coins because if they can't, they shouldn't own Bitcoin OR they should probably start wih a very small amount.

The first education should be on how to secure their wallet's private keys. Because beginners can buy a lot of Bitcoin with their savings and even become big investors but still lack the security knowledge that must be done.

Many can buy it, but few can keep it safe. Maybe buying small amounts first like you said would be a good experiment, because while learning how to invest in Bitcoin properly and safely.

That's expected.

The actual point of my post was for the newbie's willingness to be personally responsible for absolute control of his/her own wealth. Because if a newbie is repelled by the fact that he/she could really lose his/her whole savings if he/she HODLed them in Bitcoin, then that person probably shouldn't own Bitcoin yet.

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Quote from: Blitzboy on July 06, 2023, 09:01:00 AM

It's true that most people's inability to grasp and appreciate Bitcoin is a bigger barrier than their lack of financial resources. As a group, we need to work tirelessly towards the common objective of Bitcoin education.

It is essential to offer a whole picture of Bitcoin, not simply the positives. The decentralisation of Bitcoin's monetary system is really revolutionary, yet the cryptocurrency is not without its flaws. The dangers of unchecked markets and its use make it a two-edged sword.

While lack of Internet connectivity is certainly a hindrance, it is not insurmountable. Smartphones in particular are becoming more commonplace all across the world. Literacy in Bitcoin might be promoted even in locations with minimal connection with the use of cheap data subscriptions and instructional applications.

I think we are reaching the point in which the lack of financial resources is a bigger barrier to entry than lack of awareness, after all with how common is now to have access to the internet a great deal of people are aware that bitcoin exist, and they may have even investigated a little bit on their own about what is about, however most people do not have the money to invest in it, whether this is because they have too many debts, they do not earn enough money or they have many expenses they simply lack the means to enter this market.

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Quote from: Wind_FURY on July 07, 2023, 11:52:50 AM

In the context of "not overselling" to onboard people, it's also very important to tell people Bitcoin's limitations and how ownership of Bitcoins require total responsibility from the person himself/herself. Lose your keys, then you lose your Bitcoins. ¯\_(ツ)_/¯

People should be ready to take responsibility to own their first coins because if they can't, they shouldn't own Bitcoin OR they should probably start wih a very small amount.

The first education should be on how to secure their wallet's private keys.
Because beginners can buy a lot of Bitcoin with their savings and even become big investors but still lack the security knowledge that must be done.

Many can buy it, but few can keep it safe.
Maybe buying small amounts first like you said would be a good experiment, because while learning how to invest in Bitcoin properly and safely.

Quote from: 2girls on July 07, 2023, 11:59:44 AM

-snip-
By having complete knowledge and experience about Bitcoin, you can also provide information about Bitcoin to other people, and after the money comes you can make a great investment in Bitcoin.

But never give investment advice to others even if you understand Bitcoin.
Because investment advice will backfire when the advice is wrong and results in other people's losses.
Providing information may be just general knowledge about Bitcoin and what are the benefits and risks.

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Quote from: Promocodeudo on July 06, 2023, 02:48:00 AM

We know that money plays a major role in Bitcoin investment and adoption, over the time many people have complained that money has deprived them of the opportunity to partake in Bitcoin, after getting the knowledge of how the currency works, please my advice to every Bitcoin enthusiast is that no knowledge is a waste, you may not have the money to invest today, but learning about this technology is the first stage you have to cross in other to get the main thing.

You are right that no knowledge is wasted. Whatever knowledge is learned about it is definitely useful. There is no doubt that money is very important to invest in the crypto currency market. Even at the current price of Bitcoin there are many people who cannot buy Bitcoin.

Anyone who knows the utility of Bitcoin will definitely want to have Bitcoin in their portfolio. Even if one does not have capital, one should continue to try to gain knowledge and experience about Bitcoin and Crypto currency, because experience and knowledge is very important component before making any investment. By having complete knowledge and experience about Bitcoin, you can also provide information about Bitcoin to other people, and after the money comes you can make a great investment in Bitcoin.

Topic: Education and money as the key to Bitcoin adoption. - page 3. (Read 747 times)