Topic: Why people think technical knowlege is required to invest in or adopt bitcoin. (Read 358 times)
January 19, 2019, 03:53:28 AM
There is a thing called UX design, a bridge that connects the software and the user. I believe cryptocurrencies haven't reached the point whereas the user able to easily interact with Bitcoin in general. In technologies spaces those things is essential because it will matter how the user could easily understand it without too much technical knowledge.
January 19, 2019, 02:37:45 AM
I find OPs point right about using and investing in bitcoin. You can do it without the technical knowledge and just the fundamental concept but when it comes to investment, bitcoin can be your dream asset or worst one. Depending on the current situation and an analysis is needed to know what to do. People are afraid of investment because they don't have the technical skills needed to asses what to do when something is failed.
January 19, 2019, 02:28:09 AM
I dont think we should have knowledge about technical or blockchain to invest in bitcoin. Bitcoin is like commodity or investment, if we think its profitable in the future and can secure our asset value, i am believe people without proper knowledge about blockchain can invest.
January 18, 2019, 10:36:42 PM
The reason why cryptoneir believed people need some technical knowledge before they invest into bitcoin is because they will understand the in depth of the market, the coins they can invest in and know the necessary steps to take in other to avoid losses. However, the market is not doing good the knowledge will put ones through.
January 18, 2019, 10:24:05 PM
I came across a lot of thread where people say "Lack of technical knowledge is the reason why people don't use bitcoins". I need to know why such people think technical knowledge is required to invest in or adopt bitcoin.
You really do not need to learn everything to invest in bitcoin, just make sure that you know to safe guard the coins and store in a wallet that you own the private key and learn the basic on how to secure your device.Let's say, professor of Arts is given a laptop without any working internet browser can he surf the web. Majority of us cant. The browser makes it look easy. Some of the non-technical people might not know what tls_ecdhe_rsa_with_aes_128_gcm_sha256 Connection encrypted is, that doesn't stop them from banking online.
It is a new financial system which is less than ten years old, the reason for non technical people to find it difficult is that there is a lack of user friendly devices that can help you store your coins and that is the biggest drawback, if there is a simple user friendly device that can be accessed by any granny then you will see more people using cryptos.What normal person consider is risk to reward ratio, how much he will be benefited for taking that risk. Even while switching a job you might face unemployment but your new job might pay you more.
The risk reward ratio is huge in this aspect, a person who does not know to safe guard his system always think about the risk of loosing everything rather than the gains, because it is his hard earned money and no one will invest just to assess the risk reward.And assets like gold are consider safe because of its acceptability by masses and not the technical knowledge required to refine gold ore.
Gold is a metal and has physical properties which can be owned and you do not need the knowledge to refine gold ore to own one but that is not the case with digital goods, you need to know how to safe guard it as it can be transmitted digitally if you are connected online. 
January 18, 2019, 10:00:20 PM
As most of the people on this thread, I partially agree. A Bitcoin user needs minimal technical knowledge,
when you get your credit card and gain the "knowledge" that you shouldn't put it close to a magnetic field, you shouldn't bend it, break it,... or it becomes useless, and dozen other things, or when you open your paypal account and they tell you not to lose your password, use a strong one, how to deal with charge back,... do you call those "technical knowledge" or common sense?
that is the same with bitcoin as a regular user. you don't need ANY "technical knowledge" whatsoever to use it. you just have to learn a bunch of basics such as how to use a wallet!
January 18, 2019, 08:44:33 PM
Agreed. Base things for using Bitcoin is knowing how to use Bitcoin wallet, and keeping private keys secure. You don't have to care for how something works.
January 18, 2019, 06:48:29 PM
Technically knowledge is important thing in all aspect of investment to avoid lot of loses, bitcoin is easy to use and handle if they know it's works as decentralized volatile cryptocurrency.
Do not compare the art between the new system technology because art is talent using by imagination gift from god of selected people.
Do not compare the art between the new system technology because art is talent using by imagination gift from god of selected people.
January 18, 2019, 06:34:22 PM
If you want invest then you will need to know the basic technical knowledge because you need to know how bitcoin work and what is the potential that can be used with bitcoin, if you want to used bitcoin you don't need the technical knowledge, but still it's better to have some basic technical knowledge, who knows you can build something better for bitcoin
January 18, 2019, 05:13:27 PM
I do not think any technical knowledge is needed when questioning work with bitcoin, but when it comes to mining, blockchain then you have to have technical knowledge and good technical skills.
Every man can handle basic things like buying and selling, everything is the same as with bitcoin.
Every man can handle basic things like buying and selling, everything is the same as with bitcoin.
January 18, 2019, 04:20:56 PM
As most of the people on this thread, I partially agree. A Bitcoin user needs minimal technical knowledge, buying/earning and spending Bitcoin isn't really something that requires much technical knowledge. But the part where I dissagree are more complex parts of the cryptocurrency world, like mining, working or learning about the blockchain.
January 18, 2019, 04:17:39 PM
I think in a lot of cases bitcoin is over explained and analised to the
point where new people can be frightened away.
There is a lot of technical information attached to Bitcoin but we
dont need to know it in order to use it.
All we need to know to get started is:
How a coin is created: The very basics of mining
How to buy one: Coinbase, ATM or local bitcoins
How to set up a wallet securely: Start with Electrum for Android
How to spend it: Transfer to another address
point where new people can be frightened away.
There is a lot of technical information attached to Bitcoin but we
dont need to know it in order to use it.
All we need to know to get started is:
How a coin is created: The very basics of mining
How to buy one: Coinbase, ATM or local bitcoins
How to set up a wallet securely: Start with Electrum for Android
How to spend it: Transfer to another address
January 18, 2019, 03:55:19 PM
You don't have to have some expertise technical knowledge but you have to know at least basics, how it's functioning and what is the background. That is where many make mistakes, they get involved in Bitcoin and other cryptocurrencies without any knowledge. But it's not that difficult to learn basic information and this is really added value in dealing with cryptocurrencies. World is geetting digital and virtual and without any knowledge about new technologies you can't actualy function ptoperly anymore.
January 18, 2019, 03:45:11 PM
Well, one other major difference that makes Bitcoin to be understood by everyone is the fact that it's solely made for digital usages. Bitcoin is very difficult to be used by someone who doesn't utilize the digital medium because from getting Bitcoin to using it fit it's main motive and then withdrawing all needs a little digital knowledge.
January 18, 2019, 03:35:11 PM
I came across a lot of thread where people say "Lack of technical knowledge is the reason why people don't use bitcoins". I need to know why such people think technical knowledge is required to invest in or adopt bitcoin.
Let's say, professor of Arts is given a laptop without any working internet browser can he surf the web. Majority of us cant. The browser makes it look easy. Some of the non-technical people might not know what tls_ecdhe_rsa_with_aes_128_gcm_sha256 Connection encrypted is, that doesn't stop them from banking online.
I don't know what technical knowledge is required to fly an Airbus A380 but I have been a passenger of one, I took the risk and trusted the driver(pilot) to be not drunk.
What normal person consider is risk to reward ratio, how much he will be benefited for taking that risk. Even while switching a job you might face unemployment but your new job might pay you more.
And assets like gold are consider safe because of its acceptability by masses and not the technical knowledge required to refine gold ore.
I have written a post on how I introduced my village farmers to bitcoins. My village farmers cant even read their bitcoin paper wallet they only know its valve and risk of investing in it. https://bitcointalksearch.org/topic/an-introduction-to-our-lime-initiative-5098721
It's because wallets in general weren't user friendly for the longest time. Just when they became user friendly we started having fee markets and other stuff that's completely unexpected, given Bitcoin's marketing as "a currency".Let's say, professor of Arts is given a laptop without any working internet browser can he surf the web. Majority of us cant. The browser makes it look easy. Some of the non-technical people might not know what tls_ecdhe_rsa_with_aes_128_gcm_sha256 Connection encrypted is, that doesn't stop them from banking online.
I don't know what technical knowledge is required to fly an Airbus A380 but I have been a passenger of one, I took the risk and trusted the driver(pilot) to be not drunk.
What normal person consider is risk to reward ratio, how much he will be benefited for taking that risk. Even while switching a job you might face unemployment but your new job might pay you more.
And assets like gold are consider safe because of its acceptability by masses and not the technical knowledge required to refine gold ore.
I have written a post on how I introduced my village farmers to bitcoins. My village farmers cant even read their bitcoin paper wallet they only know its valve and risk of investing in it. https://bitcointalksearch.org/topic/an-introduction-to-our-lime-initiative-5098721
A lot of non-technical people tried it, got discouraged and left.
January 18, 2019, 03:33:16 PM
I came across a lot of thread where people say "Lack of technical knowledge is the reason why people don't use bitcoins". I need to know why such people think technical knowledge is required to invest in or adopt bitcoin.
Let's say, professor of Arts is given a laptop without any working internet browser can he surf the web. Majority of us cant. The browser makes it look easy. Some of the non-technical people might not know what tls_ecdhe_rsa_with_aes_128_gcm_sha256 Connection encrypted is, that doesn't stop them from banking online.
I don't know what technical knowledge is required to fly an Airbus A380 but I have been a passenger of one, I took the risk and trusted the driver(pilot) to be not drunk.
What normal person consider is risk to reward ratio, how much he will be benefited for taking that risk. Even while switching a job you might face unemployment but your new job might pay you more.
And assets like gold are consider safe because of its acceptability by masses and not the technical knowledge required to refine gold ore.
I have written a post on how I introduced my village farmers to bitcoins. My village farmers cant even read their bitcoin paper wallet they only know its valve and risk of investing in it. https://bitcointalksearch.org/topic/an-introduction-to-our-lime-initiative-5098721
Let's say, professor of Arts is given a laptop without any working internet browser can he surf the web. Majority of us cant. The browser makes it look easy. Some of the non-technical people might not know what tls_ecdhe_rsa_with_aes_128_gcm_sha256 Connection encrypted is, that doesn't stop them from banking online.
I don't know what technical knowledge is required to fly an Airbus A380 but I have been a passenger of one, I took the risk and trusted the driver(pilot) to be not drunk.
What normal person consider is risk to reward ratio, how much he will be benefited for taking that risk. Even while switching a job you might face unemployment but your new job might pay you more.
And assets like gold are consider safe because of its acceptability by masses and not the technical knowledge required to refine gold ore.
I have written a post on how I introduced my village farmers to bitcoins. My village farmers cant even read their bitcoin paper wallet they only know its valve and risk of investing in it. https://bitcointalksearch.org/topic/an-introduction-to-our-lime-initiative-5098721
If you are only engaged in trading, yes, it may not be necessary to know the technical features. But when your car is broken, if you can not find a specialist, learning about it in time will help you overcome the difficulty. At least you should know how to recover when you lose your private key and know how to solve such small life-saving problems. And knowing more is better for you.
January 18, 2019, 01:19:12 PM
technical knowledge is not needed to invest or adopt blockchain. only time you need technical knowledge is if you want to be a trader, then you need to be trained on how to trade. if not you can simply invest in bitcoin and hold
January 18, 2019, 07:26:44 AM
I came across a lot of thread where people say "Lack of technical knowledge is the reason why people don't use bitcoins". I need to know why such people think technical knowledge is required to invest in or adopt bitcoin.
Let's say, professor of Arts is given a laptop without any working internet browser can he surf the web. Majority of us cant. The browser makes it look easy. Some of the non-technical people might not know what tls_ecdhe_rsa_with_aes_128_gcm_sha256 Connection encrypted is, that doesn't stop them from banking online.
I don't know what technical knowledge is required to fly an Airbus A380 but I have been a passenger of one, I took the risk and trusted the driver(pilot) to be not drunk.
What normal person consider is risk to reward ratio, how much he will be benefited for taking that risk. Even while switching a job you might face unemployment but your new job might pay you more.
And assets like gold are consider safe because of its acceptability by masses and not the technical knowledge required to refine gold ore.
I have written a post on how I introduced my village farmers to bitcoins. My village farmers cant even read their bitcoin paper wallet they only know its valve and risk of investing in it. https://bitcointalksearch.org/topic/an-introduction-to-our-lime-initiative-5098721
Let's say, professor of Arts is given a laptop without any working internet browser can he surf the web. Majority of us cant. The browser makes it look easy. Some of the non-technical people might not know what tls_ecdhe_rsa_with_aes_128_gcm_sha256 Connection encrypted is, that doesn't stop them from banking online.
I don't know what technical knowledge is required to fly an Airbus A380 but I have been a passenger of one, I took the risk and trusted the driver(pilot) to be not drunk.
What normal person consider is risk to reward ratio, how much he will be benefited for taking that risk. Even while switching a job you might face unemployment but your new job might pay you more.
And assets like gold are consider safe because of its acceptability by masses and not the technical knowledge required to refine gold ore.
I have written a post on how I introduced my village farmers to bitcoins. My village farmers cant even read their bitcoin paper wallet they only know its valve and risk of investing in it. https://bitcointalksearch.org/topic/an-introduction-to-our-lime-initiative-5098721
with bitcoin its not as simple as swiping card or using an ATM. You are your own bank, so you have to know how to keep your fund secure which requires knowledge of private/public key, encryption, hardware wallet and so forth. If you are dealing with small amount may be its not needed but if you're talking about mass adoption which would mean people are using bitcoin and keeping it with them then it would require for them to have technical knowledge. not difficult but requires willingness to change your old pattern. Young generation is more likely to use bitcoin than old one according to a survey, so adoption isn't too far.
January 18, 2019, 07:20:06 AM
In my opinion technical analysis is good for the cryptocurrency enthusiast to become a smart investor and not a hype investor. The basics of technical analysis plus the knowledge of the fundamentals of bitcoin and the blockchain can result to a better investment plan. As what an expert technical analysis always say "To have a plan is not to fail but failing to plan will result to liquidity" I hope I quote it correctly apologies if not!
January 18, 2019, 06:42:01 AM
Well, I'm one of these people who things that some technical knowledge is actually required to get into Bitcoin.
Though, the difficulty of that knowledge is often overestimated.
In reality it's not that hard for people to learn how Bitcoin works and how to set up a reasonably secure wallet.
They just tend to think it is, because it's a little bit of a hassle to learn everything.
Compare it to the internet, it's not hard to learn how to use the internet, but it's kind of a hassle to learn about good practices to avoid using the internet in an insecure way.
Just look at most older people, most of them are generally able to use the internet without any issues. Though they usually do so in a way that opens them up for all sorts of scams/malware attacks.
Whenever I teach someone on how to use cryptocurrencies, I always try to explain everything in a way that makes it sound easy for them, but without leaving the important security-related information out.
It can be quite tricky to do so and I've had some people say that they don't want to bother with all of that, but there are some people who gladly take in that information.
Though, the difficulty of that knowledge is often overestimated.
In reality it's not that hard for people to learn how Bitcoin works and how to set up a reasonably secure wallet.
They just tend to think it is, because it's a little bit of a hassle to learn everything.
Compare it to the internet, it's not hard to learn how to use the internet, but it's kind of a hassle to learn about good practices to avoid using the internet in an insecure way.
Just look at most older people, most of them are generally able to use the internet without any issues. Though they usually do so in a way that opens them up for all sorts of scams/malware attacks.
Whenever I teach someone on how to use cryptocurrencies, I always try to explain everything in a way that makes it sound easy for them, but without leaving the important security-related information out.
It can be quite tricky to do so and I've had some people say that they don't want to bother with all of that, but there are some people who gladly take in that information.
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