Topic: One must understand the technology .... (Read 724 times)

Well, as long as people do not seek for more power(which is merely impossible) because it is really one of our characteristics as a human being. Then there would also be a chaos especially if the user who is seeking for more power using the technology do not understand its capability

Reminds me of this quotation by Henry Ford.



And this biblical quotation.



"My people perish for lack of knowledge" could describe deficits, healthcare and every other issue the world faces.

Every issue and problem crypto faces, also.

 What we've been experiencing right now, texts, chats, calls, video streaming is created by technological development. Years of research and work is put into this to achieve this technology. We are benefiting from it but don't know the science behind it.
I remember when I first heard about Bitcoin, my reaction is like bitwwhhhaat? How it is created? By solving complex mathematical statement like sha--256, sha whattt??

A little knowledge is a dangerous thing so they say. People are getting ignorant because of lacking of knowledge to something. And that ignorance creates misunderstanding and conflicts to people. One must understand the technology of course or you're going to stay illiterate.
"The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn."
© Alvin Toffler

i think learning bitcoin is not such a difficult job as one can learn about bitcoin in no time, even the children can know about bitcoin very easily. just need to give full concentration.

yes it can be a little bit but not too much, i think a one day practice will be enough for learning about bitcoin. and specially for those people who already familiar with bitcoin then it is not any issue for them  i think

Danny Hamilton, I agree but the traditional money system is just as abstract.   In a way, the blockchain is more real because of its redundancy.

It's good if you are familiar with technology that can help you a lot in any way. Today we live in techno society and sometimes this is crucial. But people often use something not actualy knowing what is behind, not knowing the technology and that is often case with Bitcoin. People use it and they don't know the basic information and how Bitcoin technology is working which can cause many mistakes.

Well, bitcoin is really complicated for someone who first read about it. It is a daunting task to understand and it is very intimidating to start using it. Hence this is one of the major struggles in using it. Bitcoin however is gaining popularity as people end up learning it and teaching it to others then people realize its not that hard to use.

Indeed, I started learning Forth just so I could better understand Script.

I wish to god though they had chosen a different name than Script. Google for Bitcoin Script and you gets tons of result that related to Bitcoin and shell scripting.

I also wish to god that Coinbase the company didn't exist for similar Google reasons.

Yes it's true that people should know that in which generation they are living and technology currently available for mankind.
It's helps in many ways as the op says.

yes that is right to say as it is new emerging technology and that is the reason that most of the people are no interested in it. hope with the passage of time people will know about it.

To keep going with mind blowing concepts...

There is no such thing as "a bitcoin" that gets sent or received anywhere.

Transactions in the blockchain just list "outputs" which are encumbered with a requirement that must be met if you want to use that output as an input to another transaction.  Once an output is successfully used as an input in a transaction in the blockchain, it can never be used as an input to any other transaction again. Typically the hash of the public key is used with a small script (effectively a small computer program embedded in the output) to describe what requirement must be met.

It is also possible to use that scripting language (effectively a programming language) to encumber outputs with other requirements that have nothing to do with a public key at all.  In many cases, those requirements can't currently be represented as a bitcoin address. So, while that value (those bitcoins?) may be useable in transactions, it isn't stored at an "address" and it isn't spent "from" an address.

In other words...

While many may use this system of programs and data that describe access to the blockchain as "currency" or "commodity".  Really all that technically exists is computer programs stored in a database that describe who else is allowed to add more computer programs to that same database, and what the rules are for adding such programs. There is no "currency", there is no "commodity".  It's all imaginary in our heads.  There are only those that have programming rights, and their ability to reassign some of those programming rights to others.

Wallets don't technically "move" bitcoins.  They simply write the computer programs for those that don't understand how.
 
When you "acquire bitcoins", what you are actually doing is acquiring the right to add a computer program to the database from someone else that is giving up some of that right in exchange for some product or service.

Agree. Although we all kow the beauty of technology. Sometimes we almost forgot as well the chaos that it could cosr of it is being abvious. However the private keys right now is really a big help

When one is suing the government (like in http://www.article78againstnydfs.com/testimony.php) one must understand the underlying technology.
It's so simple that it is beautiful.

I hope that sharing this picture below on how to generate Private Key make it clear.
Public Keys are not accounts where money is stored but just an X and Y coordinate on a graph.
Mind blowing.