Bitcoin Forum

I am relatively new to this whole crypto thing. I'm still strugling to understand a shitload of info, terms and generally the way this industry works. Are majority of you guys here of IT background?
Is it possible to fully educate yourself and understand crypto technology if you are not dev/programmer?

All users here are not from the IT background. Every user has basic understanding regarding Internet and system related activities. To learn more about crypts we need more time as well our own efforts is much required. Even people working in IT industry is not aware of bitcoin which is simply astonishing.

I am the only one at my job (IT company) that owns any crypto.
People only knew about it because of ransomware virus. I've been telling them to invest for over a year but no one listened to me...

If you have a basic understanding of computers there is a ton of information for free.
Learn how basic blockchain technology works.

There are two popular methods of mining- PoW and PoS (Proof of Work/ Stake)
(There is also Proof of Capacity and probably some others but those are the two most popular right now.)
I thought this article was pretty good explaining them:
https://blockgeeks.com/guides/proof-of-work-vs-proof-of-stake/

There are some really smart people on these forums. I've learned way more about crypto in the last year since I joined than I would have otherwise.
Don't pay attention to the spammers and people shilling worthless coins and you can definitely learn something here.

Thx for the replies guys.
The cryptoworld seems so overwhelming to me. Everything is happening so fast.

Is there a thread on this forum that attempts to explain some basic stuff, I cant find any.

If you want to truly understand bitcoin then probably yeah, but in order to more or less know what is behind bitcoin you only need to read a little bit, for example I don’t fully understand how an automobile works but I can use one responsibly, I have some understanding about how it works but I cannot build one myself and that is fine.

I'm an IT graduate but I'm not that expert with everything. I just recently know bitcoin and everything about crypto currency because it is not being taught in college. I believe that not all the people here are into Information Technology and since there is internet where can you search everything out about crypto's, don't give up. You just need time to study and adopt this industry.

If you mean as a beginner, you can go here at Beginners & Help (https://bitcointalk.org/index.php?board=39.0)

Not an IT and not an expert yet I somehow understand the concept of cryptocurrencies and that is why I'm sticking with Bitcoin only.
What you need to know is to check the hash rate behind every coin before investing, there are some altcoins being mined for years and when suddenly their price increases 1000% obviously there is something wrong with that picture and doesn't take an expert to realize they're being pumped.
Note that even experts missed things and even currently Bitcoin isn't perfect and might be some exploits and bugs to be found.
In trading you need to know the markets and that's more about experience than knowledge.

It's actually not that hard.  I can't code or anything, and I admit that sometimes I say things that are wrong, but the basics of it and everything you need to know you can pick up easily.

If you're just really confused, you could try Coindesk's explanation (http://www.coindesk.com/bitcoin-explained-five-year-old/), which I found very helpful.  If you want it all in one place and you can pick up new information pretty quickly, you could also try the technical explanation (https://m.youtube.com/watch?v=l9jOJk30eQs[/url).

All you need to do is get around some basic terms like mining (verifying transactions/proving that they happened - anyone can do it and new Bitcoin is introduced as it's given to them as a reward), hashrate (computing power dedicated to mining) and the blockchain (a public ledger containing all Bitcoin transactions ever made).  You'll get it in a week or so at most.

The answer to that is 'no', IMO.  One can use bitcoin and not understand the technicals, just like one can drive a car just fine without being a mechanic.  You really don't need to know much at all to use bitcoin, and it's fairly easy once you get the hang of it.  Myself, I'm not 'tech savvy' and I function just fine in life and in the bitcoin world.  So far.  But I have a great deal of respect for those who truly understand what goes into bitcoin.  This is far beyond my ken.

I believe it's much harder to understand 100% how things work with Crypto-Currency if you are not a Developer/Programmer. You can understand the basic, especially by practing on daily life when using it and when reading about some currently issues in Crypto-Currencies and principally Bitcoin. Anyway, you don't need to understand everything to start using it, it's like fiat, most people don't know how that works, but they are using it.

I am a newbie to cryptocurrency, I read and read articles till I cannot keep my eyes open but still have difficulty understanding it.  I have wallets and can buy and sell crypto coins, but not much more.  Once I thought I would have a go at mining, but it is too deep for me to grasp the terminologies etc. so I thought no point in me investing dollars into something I cannot understand (yet!!).  Cryptocurrency seems to be a whole new language to me and I do have difficulty with it.

It's the same with me. The more I get deeper into this there seems to be so much more to learn. Just when I manage to get a grasp on some of the concepts the more complicated ones arise.

Lol. Not really. You can still leave even without technology. Technology is just an instrument go make our living easier. Anyway, you don't need to get a degree on IT to understand cryptocurrencies. You just need to study it first. When im new here on btctalk, i really don't what cryptocurrency means. So im forced to study what it is and how it works. You don't have to study deeper like algorithm and shit. Just learn the basics. I think you're fine. Goodluck.

I am not entirely sure, what you are asking about. As your question in the title of the thread is completely disconnected from the one in your OP post.

Cryptocurrency is a tool, that you can but dont have to choose. You can use it to your advantage even without understanding ins and outs of it, just like you use your smarthphone, bank account or automobile. It is a tool, not and end in and of itself.

I wouldnt be suprised at all, if some of the most profitable traders here barely knew how to turn on computer. Leaving tech stuff to IT crowd, while they focus on profit.

My question meant if its possible to be a good investor/trader of cryptos if you are not an IT guy. I cant see how someone with very limited knowledge can spot the pros and cons of cryptos and understand the underlying technology of various cryptos. If somebody has never turned on a computer ( metaphorically speaking) than based on which indicators would he make any desicion.

Just follow the news and rumors. Sometimes like with the current siacoin pump and the litecoin pump from a few weeks ago it's pretty clear what's going to happen. If there's a large consensus that something will pump then it most likely will. If there are any developments around a coin, if some milestone is being completed by the devs, it's price will most likely grow.

With the current bubble it's especially easy to be a trader. A friend of mine I just introduced to the whole thing about a month ago, mined some $10 ZEC with his aging GPU and through trading of altcoins has now made them into $180 without having any idea what he was doing or why these coins pumped. I remember I even had to explain to him how buying and selling works on poloniex. If he could do it anyone can.

As I pointed out earlier, it's not hard to find out more.  For investing and trading, all you need to understand is a reasonable amount of basic terminology so that you can understand discussions about fundamental analysis and news articles.

Cryptocurrencies are largely a speculative investment, and most of the cryptocurrency that people hold is not going to be spend on actual transactions.  

To a lesser extent, this even applies to Bitcoin.  Therefore it's a gold mine for chartists and "technical analysis" types.  If you're good at fiat investments and are good at trading other volatile investments like penny stocks, you'll be good at trading cryptocurrencies.

Precisely, many traders see bitcoin just as another penny stock in its growth period. Sending money to exchange and securing their account being the most challenging tasks for them.

If, I were you, Id invest time into researching investing basics, sir. Technical and fundamental analysis, finabocci lines, eliot waves etc. There are some really smart guys even on this board, who are willing to share their knowledge and experience with you. Without fee.

Hahaha I love this! This is 100% exactly how I felt in my first weeks. You'll pick it up. There are complex terms that you never really need to know unless you're an IT guy (oh damn, no minblewimble yet!? No coinjoin!? Wtf is a segwit!? Can I ride on it like a segway?!) But really what you need to understand is the basics like private keys, are private. They can be compressed or not compressed just like any other file in the world. You also have public keys. They can be used in public.

There are plenty of video tuts you could get into and learn a sht ton. It’s best to see how individuals develop and operate online using bitcoin and then implement your own thing.  

You can learn almost anything if you have the patience..

I think when it comes to BTC, you should handle it like how you handle, save and invest money, not how you figure out a very intricate machine. Trust your instincts and your sound judgment. It wouldn’t hurt also to read the basics about bitcoin, bitcoin wallet, blockchain, bitcoin mining, and bitcoin trading once in a while.  Then don’t be afraid to use it, whether in buying stuff online, trading or playing at online casinos who accept bitcoin. By then you would fully understand the benefits, the risks and rewards of bitcoin.

I have the feeling that people in early days of bitcoin they had knowledge and enthusiasm with cryptography and programming. But now most users with a big stash and every day involving they are traders who know only the basics and their only interest is the price of bitcoin.

I also just learned about crypto stuff, it's possible if you always learn every day about crypto. Slowly but surely you will also become an expert in this field if you want it  ;D  IMO

There are any apps and wallets that are helping to make bitcoin simple to use for less technical users. Sites like coinbase and blockchain.info wallets are starting to become more Paypal like and simplify things. As a more technical user, I don't like the simplification and prefer to use advanced wallets such as Electrum. I do see the benefit of having some wallets that are simple to use for the less technical users. If Bitcoin is to become mainstream, we need all kinds of users to be able to properly use it.

If you're an end user, you don't need to know how everything works. To most people the inner workings of bitcoin are like magic, you start talking about cryptography, mining, proof of work, you look at their faces and you know you lost them.
That's why wallets are as foolproof as possible, they ask you to make a copy of your keys, remember your password, they let you know if the address is wrong, allow you to scan qr codes, so you don't even have to manually copy the addresses, it's as easy as paying with your credit card in a store, you just can't go wrong.
You don't need to know the tech behind CC payments, so why do you want to be an expert in bitcoin to use it?

On a similar note, which exchange is good for trading?  I have read that Polo is having its issues. What are your views about yobit and bitfinex?

No as long as you know how to use such technology.

You're not doomed, just read this forum and leave 2 posts per day, and all be good... you can learn a lot here, youtube, etc...

no. i'm not very tech savvy and i do fine with bitcoin. these days there are some super simple services.

the one thing you absolutely must be is security savvy. there are multiple ways to lose your bitcoins if you're not careful with who you trust (no one) and how you secure your private keys. that's the most important thing anyone needs to learn.

I'm not the most tech savvy person, but what's stopping you from developing that tech savviness? I've taken it upon myself to learn Angular 4 -> Solidity -> Ionic 2. I'm still learning Angular, but I feel like I've made significant progress. I'm a college student studying microbiology so learning to code is something I do in my free time and I actually REALLY enjoy it!

I'm also not tech savy guy. Being over 2.5 years in bitcoin world, I still don't understand lot of things. I thing it's enough to know basics of bitcoin tecnology. There are lot of stuff which can be hard to understand for people without IT skills.
Mostly people don't know how bank systems exactly works inside, but there are no problem to use it. Same thing about bitcoin - you don't have to be tech guru to use it.

True. You don't really need to be a tech savvy in order to use Bitcoin as long as you know the basics then you're good to go. I am not that into with the deeper knowledge in technology, programming, or any IT skills but (though not needed actually) I try understanding it with some complicated terms that I encounter. There are services really that needed IT skills which pays a great amount but also keep in mind that there are also services that you can offer that doesn't require having IT skills which pays a fair amount like if you have a skill for writing then you can offer it in exchange for Bitcoin.

It is not to late to learn new stuff... If you have the time and good tutorials you can learn any thing.
It is just a matter of time and mostly a matter of need. Why do you eat ? Because your body needs energy to survive.
So if you need to learn IT you are going learn it step by step.
Don't worry there are aways new stuff to be learned every single day :). Look 8 years ago with BTC  :D.

Every usual man and woman can educate itself with crypto technology. I can tell you more, one can even become dev/programmer if he/she will set such a goal. There are plenty sources of information about bitcon, altcoins, news sites, analytical articles, so if you really struggle to understand this industry, it`s up to you.)

I don't think you are doomed if you are not tech savvy but since everything it tech now a days you will be at great disadvantage.

Yes it is possible if you are really interested in the cryto world and its technology of course. You don't have to be an IT Specialist/dev/programmer to know the basics. But you really have to be eager to learn about it though and a lot of patience.

I found that the Wikipedia page on Bitcoin (https://en.wikipedia.org/wiki/Bitcoin) is a brilliant primer on the essential must-know stuff.

It makes for boring reading, but commit 15-30 minutes careful reading of the concepts behind Bitcoin. After that, you'll realize that it all makes simple sense and you won't have to get hung up on all the newly-invented terms, Bitcoin apps, and company names.

You will get an even better understanding if you read some of the academic papers linked in the Wiki's citation section. It's all very logical, and doesn't require any specific IT background to understand.

Definitely!

You don't need to be a programmer to understand Bitcoin. But of course, if you want to delve deeper, some CS knowledge is required.

It would be a disadvantage but in this era you can easily learn. Why? You don't need to be a tech savvy to browse the web. All information you want learn are now posted in the web. You don't need to be an IT Expert or a Programmer. Yes, It will took a lot of time and effort to learn and discover new knowledge, But if you are to achieve what you want to achieve then expect for a good outcome. :D

You're right, and a good point that learning about Bitcoin can be done on the web, by anyone. It's best to stick with up to date, online sources of info, unless you're studying theoretical Bitcoin economics or engineering or what have you. Buy a hard copy Bitcoin book one year, use it as a doorstop the next...

If want to join the bitcoin development then you should probably be a tech savy with expertise in programming and such but if your just trying to earn bitcoin there's is no really need to be an IT expert or a computer engineering to be able to understand bitcoin. Although it migth be overwhelming at first but you'll come to understand it you just start from the basics like learning what a faucet is. Try learning faucet first for you how to learn the basic concepts of sending and receiving bitcoins. There are some sites that teaches how to earn bitcoin. I suggest you start from the basics so you dont get confused.

Come on now. If people aged 60+ can understand technology, why cant you?

Yes, I have information technology background, and it definitely helped me understand blockchain technology. But hey, some if not most bitcoin investors didn't takr up computer courses, they only studied at home.

Just take your time to understand things. It's not like you need to master them in a few days. Goodluck!

I'm not an IT person, but it does not mean I do not know about IT. Actually, when I first joined the forum, I was really in trouble, but I was overcome by the excitement that bitcoin brings. And it's been a success when it comes to earning money from bitcoin and moreuh

I just started since several weeks ago.
I realize that i'm so outdated.

I didnt even know bitcoin existed since last month and it has been in existence for 8 years already.
Im not savvy but luckily I ended up here.

Im surprised to see lots and lots of information here.
I really enjoy learning here.

Im such a newbie now but i guess this problem can be solved by reading.

Definitely not! There's plenty of space in cryptocurrencies for everybody, regardless of what their technical knowledge level is like. It's one of the things that you'll see gradually shift as more and more people start getting into it, the early adopters are always going to appear to have more expertise.

I wouldn't say you're doomed. Everybody has to start somewhere, and the internet is a vast library of information to get you up to speed if you feel that you're behind the curve.

Not all crypto users are tech gurus. It doesn't take anything to open a wallet, do some little research, get few ideas from what is going on etc. Moreover you can't know everything just in a day. So many people don't even bother themselves about what is going on when it comes to the core parts, so you ain't alone and you ain't doomed. Though, I agree that being a tech savvy, helps you to quickly grasp every single details and adapt fast when it comes to the technological world.

nope, you are not doomed, but technology does increases your chances to reach your goal sooner.

internet is vast, you can use it the way you want, to speed up things, learn new things.

so the final words are keeep learning new things, you dont know which one might help you, in your tough times.

Tech Savy ?

No.. you will get elected President of the USA.

Trump has one app on his phone.. TWITTER.
And he posts shit like "covfefe"

people are good at different things. Some are tech savvy others are good designers other are good financers etc.
fact is that one needs the other to succeed, so whatever you're good at, it will help the team evolve.. asumming you have one