Bitcoiners

[Possum577]

Yeah, I do. A friend who speculates on the price but kind of got his ass handed to him following the run up to $1000. The friend is more of a person looking to make a quick buck on any investment or triage opportunity. He's not really interested in the currency or long term prospects of Bitcoin unless he can make a quick play to profit.

I think that's OK though, any activity is good activity at this time, right? Not everyone needs to understand the point or mechanics of Bitcoin, just like most people don't know much about how fiat currency is manipulated or controlled.

[Kprawn]

I can tell you this... There are a lot of people with money in the banking system, who has no clue how that works too. 

I have a friend who thought all the money deposited goes into a huge vault at the banks and stay there until it's withdrawn. So most of these people do not acctually care, what happens to their money, until it's gone.

In a way, it's better for people not to know all the technical details and for them to just use it. In future a lot of things will run on the Blockchain without most of them knowing it anyway.

Some of my friends are only worried about the price... The rest is noise to them. 

[spazzdla]

I have a friend with over 10k worth in BTC.. don't want to go into specifics.. Pretty sure he doesn't even know what a public/private key look like.

He seems to be a type that doesnt care about it and only wants to get a profit incase bitcoin price goes up. This could be dangerous for him if he hast no interest to secure his own bitcoin.

Question, how did he make up his mind for 10k BTC investment in the first time? Someone who convince him to take investment of 10K BTC should be responsible to teach him to secure his coins as well

He got in when it was at $5.  He told me about it when it was at $70.. OFC I waited until it hit 1200 to do anything.  Kind of funny how that works.. now I know more about it then he ever will.

[Argwai96]

I actually have a friend that has 2k btc and owns a farm (like an animal farm) hes now using hes farm to generate bitcoin trading milk and butter for bitcoin, i know he mined back in 2012 close to 1.1k and he bought more this year taking him to 2k.

[pereira4]

I know a guy that invested in 2 BTC and it was way more expensive than it was right now. He has no idea how to use a wallet, he just has the coins in Coinbase and looks at it as a speculative tool and anything else. He is absolutely clueless about what Bitcoin can do and what does it mean. He'll probably seen as soon as he gets his loss back and miss on the next ATH.. cant save those people.

[OC19850520]

Do any of you guys have friends that are heavy into BTC but have pretty much zero understanding or interest in understanding it.  It is super odd to me.

I have a friend with over 10k worth in BTC.. don't want to go into specifics.. Pretty sure he doesn't even know what a public/private key look like.

When I first started I had little idea of much that was going on and I had invested $3k, as time has gone on I have got to know it as much as I need to and never lost a single coin so all is good. As long as s/he makes time to learn and doesn't delete the private keys before s/he do all will be ok.

[codenamethisNutz]

I actually have a friend that has 2k btc and owns a farm (like an animal farm) hes now using hes farm to generate bitcoin trading milk and butter for bitcoin, i know he mined back in 2012 close to 1.1k and he bought more this year taking him to 2k.

Owning a farm could be pretty crazy but i guess he likes bitcoin that much to trade hes dairy products for bitcoin, lets do bitbutter.

[Xialla]

I don't have any...generally, I'm trying to avoid situation, when I will be used as technical support, investment adviser or security specialist. This can really break friendship very fast...

[Lauda]

This isn't just about Bitcoin and I'm surprised that this surprises you? How many Android users actually know what rooting is, how to enable encryption and whatnot?
I'm not even going to start with desktop users. The average desktop user probably knows less than 1% of the things that he could be doing with it. It is also just not technology, I've seen a lot of people who don't know how to change the oil in their cars and such.

Another example: Today I was looking at some external batteries online and I found one that had a decent discount. There were about 30-40 comments on it asking what it was, what it is for, could it be charged more than once and such. It takes less than a minute to search, find and read.

It's pretty much up to the individual. We live in horrible times where being ignorant had become like a new trend.

[pooya87]

Do any of you guys have friends that are heavy into BTC but have pretty much zero understanding or interest in understanding it.  It is super odd to me.

I have a friend with over 10k worth in BTC.. don't want to go into specifics.. Pretty sure he doesn't even know what a public/private key look like.

i don't know anybody with the description that you gave. pretty much everyone i know that use bitcoin, either know about it completely and have a large stack and they are working with that; or they have no knowledge, use faucets and either don't use bitcoin or have a small amount that they play with...

[satnof]

• If you want to speculate in BTC now is the right time
• The beauty of having user-friendly tools. Software engineers coined the term user-friendliness due to computers back in the 80s/90s weren't fit for anyone but scholars and big corporations, thus came about the revolution in technology were the lamen doesn't need to understand the underlying technology, but still be able to make use of it. Hope this explains what you're looking for.

[Slark]

Do any of you guys have friends that are heavy into BTC but have pretty much zero understanding or interest in understanding it.  It is super odd to me.

I have a friend with over 10k worth in BTC.. don't want to go into specifics.. Pretty sure he doesn't even know what a public/private key look like.

Actually that is a good thing. You don't need to be highly skilled technical geek to be part of bitcoin community. We need more people and it will be impossible for everyone to be on the the same level of understanding what is going on. Your friend don't need that knowledge either, after all he can be good at predicting bitcoin price or he just want to allocate his money and wait for btc price to rise.

[digicoinuser]

If he got in at $5 then I would think his risk is minimal.  According to my math he could have bought 40BTC/~$5 ea for $200 which would be worth $10K today.

[BrianM]

Do any of you guys have friends that are heavy into BTC but have pretty much zero understanding or interest in understanding it.  It is super odd to me.

I have a friend with over 10k worth in BTC.. don't want to go into specifics.. Pretty sure he doesn't even know what a public/private key look like.

I think 99.9999% of all people the people on the planet don't understand how fiat works.
Still they have money, use them, save them, invest, loan.
They have no clue still use them. I think there is proberly a higher procentage of bitcoiners who actually know how thier bitcoins work compatered to fiat-users.