Are you doomed if you are not tech savvy?

[Neoliberalism]

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?

[Ayiranorea]

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.

[Shiroslullaby]

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.

[Neoliberalism]

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.

[wxa7115]

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?

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.

[batang_bitcoin]

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?

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.

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

If you mean as a beginner, you can go here at Beginners & Help

[digaran]

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.

[Nagadota]

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, 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.

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.

[Pearls Before Swine]

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.

[mrcash02]

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.

[lesqld]

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?

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.

[Neoliberalism]

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?

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.

[deadsilent]

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.

[Okurkabinladin]

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?

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.

[Neoliberalism]

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?

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.

[anubisath]

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.

[Nagadota]

QYY

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?

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.

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.

[Okurkabinladin]

QYY

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?

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.

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.

[U2]

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.

[Mortal EXP]

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..