Technical aspects of Bitcoin that hard or just for the talented.

Ndabagi01

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Quote from: She shining on April 20, 2023, 02:18:43 PM

P.S I am sorry for the poor way I coined my question.
I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.

The technical aspect or technical analysis of bitcoin is not easily understood by everyone. It has to do with your comprehension of coding and your familiarity with programming languages. You cannot participate in all of the forum boards if you do not comprehend the issues discussed there. However, since you're here to learn and want to know more about how that aspect works, you'll need to spend more time on that board as well as find time for self-learning. It is believed that "practice makes perfect." You can only understand it if you commit your mind to it totally.

Potato Chips

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Quote from: She shining on April 20, 2023, 02:18:43 PM

A newbie(guess my profile speaks for itself) I came across a thread that talked about the importance of technical analysis and I was hooked and tried to read some articles on it here. But despite how hard I try its just different terms been used and when I read about the said term I come across more words am unaware of. Sometimes there are some that involves code and seeing them make me feel like am seeing magic. So wanted to know if technical analysis requires talent or if not then can anybody assist me with something like "Technical analysis for dummy" because I can't really seem to understand it.
Thank you.

P.S I am sorry for the poor way I coined my question.
I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.

Upon reading the "P.S.", I'm assuming the first paragraph is about "bitcoin technicalities" and not necessarily about technical analysis in trading, correct?

If so, that doesn't seem like basic levels. When trying to learn new stuff, you always have to start with the basics otherwise it would be too overwhelming and I think that's why you seem to be having a hard time. The average "basic" could also be relative as we all have our own learning paces, I suggest learning how to backtrack when you have to cause crunching information more than what you can afford to is counter productive.

For this, I would also recommend learnmeabitcoin.com and perhaps you might find other helpful stuff in: https://www.lopp.net/bitcoin-information/getting-started.html

Another thing about self-learning is, I realize some people can explain it better for me lol so in short, if you didn't understand something from source X, source Y could do it for you. Try to always look for different sources of information Cheesy

SatoPrincess

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Quote from: She shining on April 20, 2023, 02:18:43 PM

A newbie(guess my profile speaks for itself) I came across a thread that talked about the importance of technical analysis and I was hooked and tried to read some articles on it here. But despite how hard I try its just different terms been used and when I read about the said term I come across more words am unaware of. Sometimes there are some that involves code and seeing them make me feel like am seeing magic. So wanted to know if technical analysis requires talent or if not then can anybody assist me with something like "Technical analysis for dummy" because I can't really seem to understand it.
Thank you.

I believe you mean technical analysis in relation to crypto trading. There are no codes in trading, just graphs and candlesticks, also trading doesn’t require any special talent or gift. Everything everyone knows, they learned and they got better at it because they improved on that skill which means you can learn it too and do the same.

Quote from: She shining on April 20, 2023, 02:18:43 PM

P.S I am sorry for the poor way I coined my question.
I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.

If you are interested in learning the technical aspects of bitcoin, https://learnmeabitcoin.com/ is a great place to start your journey. As PokaPoka124 had suggested above, GitHub is also a good place to learn about blockchain tech.

Cryptomultiplier

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Bitcoin isn't rocket science. The terms that should concern you or be of interest to you should be those that you intend to see more of. If you intend to go into trading aspect of Bitcoin, then those terms associated with it should be your concern. Same goes for every other Bitcoin investment you intend to venture into.
Bothering yourself on the technical terms or terminologies wouldn't quite make you any progress if you had some specifics in mind.
Once you get involved in Bitcoin or cryptocurrency as whole, new terms and technics would be open to you for absorption and ingestion. You may need to do your own research (DYOR) to stay on point, but it all boils down to what interests you the most.

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

The technical process of Bitcoin isn't an easygoing course to understand just immediately; it takes time and even more mental strength to fathom the mysteries...."I call it a mystery for beginners" lol....
All you have to do is to study the "PROCESS" and the "TERMS" too .....; ofcourse there are two different things entirely..it's possible for anyone to know them important Bitcoin process and how hash power/rate are being extimated without still knowing the meaning of the terms they come across in each manipulation proceed....it's absolutely possible, so you'll need to learn on them as you learn on the Techs too. Read on Bitcoin.org to know more about your question.

Hyphen(-)

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Quote from: She shining on April 20, 2023, 02:18:43 PM

A newbie(guess my profile speaks for itself) I came across a thread that talked about the importance of technical analysis and I was hooked and tried to read some articles on it here. But despite how hard I try its just different terms been used and when I read about the said term I come across more words am unaware of. Sometimes there are some that involves code and seeing them make me feel like am seeing magic. So wanted to know if technical analysis requires talent or if not then can anybody assist me with something like "Technical analysis for dummy" because I can't really seem to understand it.
Thank you.

P.S I am sorry for the poor way I coined my question.
I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.

I don't think it takes talent, as you stated, because so many people here didn't know about Bitcoin before, but with dedication and passion for Bitcoin, they go further and devote their time to reading and learning more about Bitcoin and its technicalities.

You can do it if you really want to; it will just take some time and the acquisition of external skills to help you understand more about Bitcoin, blockchain technology, which I am confident will help you understand Bitcoin better.

un_rank

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- Jay -

Quote from: She shining on April 20, 2023, 02:18:43 PM

I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.

There would always be terms you are unfamiliar with since we all are always in a learning curve. It is expected to be unfamiliar with terms in bitcoin, I am a newbie to the technical aspect as well and look for opportunities to learn, step by step.

There is no short cut to gaining knowledge, follow the posts and threads of more knowledgeable users and as much as possible, practice what you learn. If you read a about nodes try to run your own node, same with other technical aspects, with time you would get more familiar with them.

- Jay -

lionheart78

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@OP, it looks like you are confused between technical knowledge on Bitcoin and technical analysis on trading. These two subject is different and not related to each other. Technical knowledge on Bitcoin involves programming wherein a person have to learn programming language while technical analysis involves technical knowledge on reading price chart, indicators which lead to the price prediction of the Bitcoin market.

If you are interested in Bitcoin technical knowledge you can need to learn the programming language used to create Bitcoin which is C++ and other programming languages used for the Bitcoin library. There are free courses online that can help you to learn these programming languages like Codeacademy and Coursera.

In terms of technical analysis, you can browse https://www.babypips.com/ and sites for free technical analysis lectures.

Bitcoin technical aspects need knowledge of programming language, so if a person does not know any programming language, it will be difficult for him to understand anything about technical things of Bitcoin but, people is capable of learning, if they really wanted to learn the technical aspect of Bitcoin, they can start by learning the programming used in creating Bitcoin and its libraries.

Aikidoka

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Technical analysis has never been a joke, It's like you say trading is just gambling which is not correct. Unfortunately, many people think like that which is pissing me off sometimes to be honest, If you're planning to get into crypto trading or make bitcoin predictions and treat it like gambling by blindly putting your money in, it won't work out for you. Instead, you need to understand the principles of technical analysis to make informed decisions.

Quote from: ImThour on April 21, 2023, 12:27:09 PM

If someone says Technical Analysis is a joke, they need to see this chart of mine where I predicted $16k to be bottom at the end of the year on Apr 27, 2022.
~snip~

Also, I must add that your prediction for Bitcoin's movement on April 27, 2022 was really good, and as you said It's all depends on your knowledge and people must follow the important things you mentioned about Technical analysis.

OP good luck

Findingnemo

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Bitcoin = Financial freedom

First of all its not important for everyone to understand the technical aspects of blockchain, mining nodes, etc but also investing your money with zero knowledge about the technology is also a wrong way so it depends on what we are capable of.

Personally myself not really that much techy who can write intensive codes to create a tool on my own, I know some basics but my field is entirely different in my bachelor's degree so I didn't get that much but if I want to attain that state I can spend few months and become one for sure because I am capable. So if you really want to know the technical aspects the start learning and keep learning until you get it.

ImThour

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Bitcoin Bottom was at $15.4k

If someone says Technical Analysis is a joke, they need to see this chart of mine where I predicted $16k to be bottom at the end of the year on Apr 27, 2022.

https://www.tradingview.com/chart/BTCUSDT/u3AjxvVT-BTC-EOY-Target/

TA is a joke for those who lack the skill of analysing the markets in multiple timeframes. I see the market making similar moves and I predicted the bottom to happen within 365 days of the top, i.e. what happened in the previous bear market and the results are in front of you, that's exactly what happened.

Here are some important things to remember when using Technical Analysis:
1. Support
2. Resistance
3. Timeframe(s) are very important and how you want to trade the asset
4. Breakouts
5. RSI & MACD Indicators

Start with this much and I am sure you will be able to knock off some pretty clear moves in 15-minute timeframe, it's best to start learning as there's a lot of things happening right away within a day.
It will help you understand the movement and always believe that something which has previously happened can happen again. History do repeat itself.

Good Luck! Wink

Davidvictorson

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We were all once like this - novices. Trying to understand technical concepts in bitcoin and looking at those who already have fair knowledge of them like gods, alien, or gurus. This is a trick I use to learn new things faster.
Get an empty exercise book or open a blank note on whatever electronic device you have. As you read through any word that sounds complex or hard to get, write it word. Then after you have read through the document, Google those terminologies one after the other and find other context where it has been used. Sometimes, I even add, speaking with a friend who is more knowledgeable about bitcoin than me. It is the fastest way I learn and still learning about bitcoin and its ecosystem.

Pokapoka124

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Quote from: She shining on April 20, 2023, 02:18:43 PM

I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.

I suggest you read and be involved in discussions in Development and Technical board. You can also go to Github and read the books there, it’s absolutely free and you can improve your technical knowledge
https://github.com/openblockchains/awesome-blockchains
https://github.com/bitcoinbook/bitcoinbook

If you prefer watching videos, I recommend watching Andreas Antonopoulos videos on YouTube.

Doan9269

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Quote from: She shining on April 20, 2023, 02:18:43 PM

I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.

We are all different and can't be equal in everything no matter how, there's also individual preferences to what we like and don't, if you think you're the type that can easily cope or comprehend with mathematical equations and calculations, then finding programming languages or other coding technical aspect of it will be easy for you, being a cypherpunk is not an easy task because you will always get engaged doing something, there's a way you could begin if you have no idea about it and interested in learning the technical aspect of bitcoin, post often on bitcoin technical support board, development and technical support board and read often there from members posts,make your own research as well, ask relevant questions not asked before, read online open materials, ise GitHub.comfor more information on other aspects.
,

EarnOnVictor

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Quote from: She shining on April 20, 2023, 02:18:43 PM

A newbie(guess my profile speaks for itself) I came across a thread that talked about the importance of technical analysis and I was hooked and tried to read some articles on it here. But despite how hard I try its just different terms been used and when I read about the said term I come across more words am unaware of. Sometimes there are some that involves code and seeing them make me feel like am seeing magic. So wanted to know if technical analysis requires talent or if not then can anybody assist me with something like "Technical analysis for dummy" because I can't really seem to understand it.
Thank you.

P.S I am sorry for the poor way I coined my question.
I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.

Coding and technical analysis in trading are not the same, you need the knowledge of coding before you can understand it. And by this, you can script your strategy into useful functions for signal generation automatically if your trading platform allows it.

That said, technical analysis deals with all the chart studies that can help you analyze Bitcoin and then come up with a decision on whether to buy or sell at a point in time. There are many things to learn under this subject, but I advise you to mainly train and stick to price action, trendline, pivot point, Fibonacci, and Ellliot wave strategies. You can choose one or more and also combine them together if you want. Google and learn them one by one.

Note: Do not depend on those common indicators, they will fail you.

rat03gopoh

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You seem to be talking about the typical thread that Husires made in the past, it's completely different from the development and technical stuff that is often talked about in this sub.
All existing trading indicators and analysis are impossible to apply simultaneously, it will only give you headaches. You only need to choose those 1 to 3 that are easiest for you according to your trading type. MACD or Bollinger bands are the most commonly used indicators even for beginners in day trading.

She shining

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A newbie(guess my profile speaks for itself) I came across a thread that talked about the importance of technical analysis and I was hooked and tried to read some articles on it here. But despite how hard I try its just different terms been used and when I read about the said term I come across more words am unaware of. Sometimes there are some that involves code and seeing them make me feel like am seeing magic. So wanted to know if technical analysis requires talent or if not then can anybody assist me with something like "Technical analysis for dummy" because I can't really seem to understand it.
Thank you.

P.S I am sorry for the poor way I coined my question.
I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.

Topic: Technical aspects of Bitcoin that hard or just for the talented. (Read 182 times)