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Author Topic: What is the minimum IQ needed to understand Bitcoin on a basic level?  (Read 4197 times)
gabriella
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December 03, 2013, 09:04:28 AM
 #1

not to know all the technical details inside out, because few people can do that.

just understand the basic concepts of different parts of the bitcoin system, and how they relate to each other.

what is the minimum iq needed, and what % of world population is below that requirement?
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December 03, 2013, 09:38:00 AM
 #2

That's a good question
I reckon that at this point you need slightly above average IQ to get comfortable (my guess would be that around a third of the world's population fit the bill)

As time passes, arguably the experience will need to get dumbed down to the point that even a complete imbecile can acquire, secure and spend coins

Big ask if you break it up that way!

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December 03, 2013, 09:46:47 AM
 #3

Anyone can understand bitcoin if it is properly explained. The core issue is that most people have a deficit when it comes to understanding how money itself works. Thus the leap to Bitcoin is problematic. Like computers, the internet, smart phones and many other innovations, it's just going to take patience and time to see the masses adopt and understand Bitcoin. The good news is that Bitcoin isn't going away and the network is worth over 12 billion dollars now. 

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
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December 03, 2013, 09:51:13 AM
 #4

I once heard a schoolkid on bus ask his mates "What does IQ mean?" One replied: "I think it means 'Intelligence Quiz'" I lol'd pretty hard.

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December 03, 2013, 11:28:42 AM
 #5

if scammers can understand it anyone can  Cheesy

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December 03, 2013, 11:41:39 AM
 #6

Scammers are some of the smartest people around.

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December 03, 2013, 12:09:18 PM
 #7

Scammers are some of the smartest people around.


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December 03, 2013, 12:43:13 PM
 #8

Scammers are some of the smartest people around.

That's actually true, a lot (not all) of con artists and scammers are Genius level, especially complex scams not the "you won the lottery" crap.

Hasn't anyone here watched Catch me if you Can ?  Grin

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December 03, 2013, 12:45:47 PM
 #9

Scammers are some of the smartest people around.

Some scammers are smarter than some people around them. Fixed.
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December 03, 2013, 12:49:27 PM
 #10

not to know all the technical details inside out, because few people can do that.

just understand the basic concepts of different parts of the bitcoin system, and how they relate to each other.

what is the minimum iq needed, and what % of world population is below that requirement?



Great question! Definitely "Above average" intelligence is required to understand and appreciate the fundamental value of Bitcoin and Crytography (Early adopters i.e. everyone here to date).

Which means your IQ will have to be at a MINIMUM of:

110–119 IQ

Only 16% of the population are within the "above average" IQ range, the Vast majority of humanity are at much lower levels.



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December 03, 2013, 12:51:03 PM
 #11

I think the minimum IQ is 102.02103041

You feel me?
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December 03, 2013, 12:55:15 PM
 #12

not to know all the technical details inside out, because few people can do that.

just understand the basic concepts of different parts of the bitcoin system, and how they relate to each other.

what is the minimum iq needed, and what % of world population is below that requirement?



Great question! Definitely "Above average" intelligence is required to understand and appreciate the fundamental value of Bitcoin and Crytography (Early adopters i.e. everyone here to date).

Which means your IQ will have to be at a MINIMUM of:

110–119 IQ

Only 16% of the population are within the "above average" IQ range, the Vast majority of humanity are at much lower levels.




you don't need to count to use a calculator

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December 03, 2013, 01:26:30 PM
 #13

not to know all the technical details inside out, because few people can do that.

just understand the basic concepts of different parts of the bitcoin system, and how they relate to each other.

what is the minimum iq needed, and what % of world population is below that requirement?



Great question! Definitely "Above average" intelligence is required to understand and appreciate the fundamental value of Bitcoin and Crytography (Early adopters i.e. everyone here to date).

Which means your IQ will have to be at a MINIMUM of:

110–119 IQ

Only 16% of the population are within the "above average" IQ range, the Vast majority of humanity are at much lower levels.




By definition, 50% of people has an IQ at or above 100, which is average.

Not just 16% has above average IQ.

The IQ chart is a normalized probability chart with a standard deviation of either 15 or 16 depending on the test, and an expected value of 100. This means that most people fall within 15 or 16 IQ points measured from 100. (So between 85 and 115 or 84 and 116) 65% of the world population has an IQ within this range. The further you get away from 100, the more rare it becomes. An IQ of 140 is already within the 1% of highest IQs (and often coupled with autism)

An IQ of 110 is common at college/university level and is within the top 25%

119 is within the top 11%

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December 03, 2013, 01:28:21 PM
 #14

huh... 42? Smiley
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December 03, 2013, 07:55:38 PM
 #15



People won't care as long as they can use it.
Try and explain the basics of current money system, many do not understand and many will not believe its true it works lhow it does.

Make spending bitcoins easy and people wont ask nor care

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December 03, 2013, 08:19:04 PM
 #16

Above average intelligence in Bitcoinland?  Hummmm, I don't know. How many people here have fallen for scams like Pirateat40 pulled even with other people screaming at them "it's a scam you fucking idiot"?

I don't think you need above average intelligence at all but basic computer aptitude helps. Understanding basic coding concepts helps even more. I've met some coders that were one step below Rainman on the IQ scale but they were good with computers just like Rainman could count cards. LOL

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December 03, 2013, 08:23:36 PM
 #17

Above average intelligence in Bitcoinland?  Hummmm, I don't know. How many people here have fallen for scams like Pirateat40 pulled even with other people screaming at them "it's a scam you fucking idiot"?



People can be academically smart, but socially naive or stupid and make poor decisions etc. I know some pretty slack people who've got degrees.

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Pajamaw
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December 03, 2013, 08:27:30 PM
 #18

This
Above average intelligence in Bitcoinland?  Hummmm, I don't know. How many people here have fallen for scams like Pirateat40 pulled even with other people screaming at them "it's a scam you fucking idiot"?

I don't think you need above average intelligence at all but basic computer aptitude helps. Understanding basic coding concepts helps even more. I've met some coders that were one step below Rainman on the IQ scale but they were good with computers just like Rainman could count cards. LOL

Took the words right out of my post.

But actually, this "holier than thou" approach to understanding btc is pointless and masterbatory. There's no point in doing it other than making yourself feel good. Most people don't understand bitcoin not because "their IQ isn't high enough" (which is an outdated and arbitrary way of testing someone's intelligence as it does not take into consideration a number of variables...but I digress) but because they simply do not care enough to take the time to learn it. Yes some of the coding principles are complex for your average kindle user, but you don't have to understand how advanced cryptography works to understand the foundations of bitcoin. It's like saying you need to understand how the paper that the dollar is printed on is made in order to understand paper money.
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December 03, 2013, 08:27:38 PM
 #19

There are a few good videos and explanations which should be understandable by almost anyone.

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Ecurb123
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December 03, 2013, 08:37:22 PM
 #20

I think today the only prerequisite would be to be able to generally use a computer. I'd say if you spend any hours a week on facebook, you can probably figure out how to use bitcoin. That said I wouldn’t recommend someone who isn't fairly technically competent to out much money into bitcoin. Right now it's too easy for the average joe to get scammed or lose his bitcoin. 
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