I find your lack of understanding disturbing...
I had an interesting talk last night about crypto ( what else ) with a bunch of people with various interest in this tech and various understanding of the said tech. All were invested in it though.
I find this...a bit bizzare but also very common. People putting hard earned cash into something they half-understand in hopes of hitting the jackpot that some random people promise that will come. Soon. Moon. Whatever.
It's easy to fall for all kind of "prophets' when you definitely know nothing or very little about this.
Reading this, what's your feeling?
A. I know a lot, thank you very much!
B. That's me!
C. ** FUCK YOU!**
I think the safest bet is to agree that most of us are the Jon Snow of Crypto.
I propose a simple test: Can you explain bitcoin got a total newb in less than 5 minutes?
If not: read this famous article
Another test: Do you understand what's the difference between ETH and BTC? Can you explain it to someone else?
IF not: read this
Another test: Can you imagine clearly what blockchain can change and how? Even at a very basic level?
IF not: watch this
Final test: Did you make money trading crypto?
If not, read this [ also this guy is on steemit @benyu]
These are just a tiny tiny tiny part of all the articles I read over the year and had an impact on my understanding. But guess what? Most people I shared these with, will never read them all. Too long, boring, meh, do I really need to.
Where do I send the money?!
Ok. Good luck. Don't be a statistic :)
I tried to read these articles but some were too lengthy and I lost my interest in the half. I have bookmarked them, when I will have time and mood I will finish them.
I am 100% the jon snow of crypto lolz
I'm trying to understand as much as I can, but one should also keep in mind that you don't have to understand it all to part of an economy, a platform or a system. Most people don't understand the fiat money economy very well, but still participate in it.
Of course, understanding helps a lot and putting hard-earned cash down for something you don't understand sounds like a recipe for disaster. This is exactly how bubbles get inflated and then popped - by investors that are way too casual and ignorant of their investment that are ready to overpay because of the hype, but are easily spooked at the first sign of trouble.
I will check out all of your links as I feel I'm still on the ignorant side of crypto.
Explain bitcoin to a newb in 5 minutes: literally impossible. You would have to oversimplify to the point were you wouldn't be able to explain even the basic concepts of bitcoin, and the noob would simply remember that it's "magic digital money". For example, literally 0 mention of cryptography (or private signatures) in the article you linked to. For a crypto-currency that's quite the over-simplification.
well you have to start somewhere.
agreed. However If you're gona invest significant amounts of money (relative to your net worth), spending at least 30 minute on informing yourself seems like a bare minimum. I actually made an article 2 weeks ago about learning about cryptos and by far the best introductory ressource I found was this 26 min video:
However, even there, if functions of modern-day cryptography aren't familiar to you, it'll take 2-3 viewings to really get it
You got my vote and a resteem :]
buy when the noobs panic.
I feel you man! People are paying for ''signals'' instead of learning.
It's taken some time, but I think I can answer those questions with a yes finally
i just upvoted you
good work
Crypto is like the microsoft of this generation.
It's new, people see it taking off and possibly becoming the future currency of the world. So they don't want to miss the train.
FOMO