How good were you at understanding Bitcoin tech before investing in it?

[kryptqnick]

It's really hard to keep up with the cryptocurrency development even for a programmer. Every coin is trying to introduce a lot of new terms to show you how innovative it is. But in many cases it turns out to be just another vaporware. And at the end of the day you see that you've waisted your time for nothing.

How many books did you read / how many courses did you complete before you started investing in Bitcoin? Can you honestly say: do you really have the time to keep up with the crypto world or at some point you just started to believe in tech instead of trying to grasp every single crypto feature?

I am not a programmer, and I didn't take any courses. However, I never bought btc, only received it from friends and as payment. I watched tons of videos read many articles throughout the years, of course, but when I started I only knew how to buy and send btc and a small amount of info about blockchain. Keeping up with the general trends is not hard now, because most of coins are useless and something worth looking into is rare. However, I cannot analyze the technical details, so I only read relevant articles on reputable websites and watch videos on Youtube. I am not sure that being a good investor requires knowing what you're investing at, though. Are stock traders specialists on the companies the shares of which they buy or sell? Or do they simply know the market and follow trends, regardless to what the product is like? I think it's the latter. For usage, you should know at least basics and keep up with new developments. For investment - IDK if that's necessary.

[jointherevolution]

I must admit I was not good at knowing Bitcoin at all before investing. The truth is that I invested first a bit of Bitcoin and back then I knew the very basics of it. After that I read more about it. Always learn as much as you can before investing is the lesson I learned.

[hxtop]

I knew basic concept and how the system works. Even though I have technical backgroung, I had difficulties to get details. Because you have to spend a lot time, which I don't have, to learn enough for beeing at the level of an expert.

[Alohadance]

When I heard about bitcoin firstly, I started learning the technology blockchain and bitcoin. So I am from the smallest group who knew about bitcoin a lot of before investing in it. It was several years ago, there wasn't enough literature.

[shesheboy]

im just like the other's here . i only knew the basics on how bitcoin and blockchain works and on how to operate it but even if im slightly interesteed to learn its technical side , i still find it hard to understand it because i dont have an educational background on this kind of field  . im also busy on more other important stuffs so i cant dedicate enough time .  yet , we dont need to be good in bitcoin tech before we invest on it  .

[cryptomaster420]

I'm a software dev who absolutely hates black boxes - I needed to understand everything I used on a daily basis. So I learned cryptography in 2010.
Unfortunately I only learned about bitcoin in 2013, so I'm not fully retired. But once I learned about it I bought a ton of it.
Truthfully understanding the cryptography behind it doesn't matter. But to understand the value proposition, you have to have a good graps of the economics of the system.

[muratsink]

Of course. I have a lot of time for update the development of the crypto world. especially when I trade. even for investment too. we must know the market chart before. and you have to join several crypto investor communities to find out the coin journey that will be created.

[dimastegar]

At least we have to be able to do Bitcoin transactions and other coins to exchangers, or other wallets. Because if we invest in Bitcoin, we will become a coin trader who sometimes also needs to do Arbit to make a profit on another exchangers. And don't forget to save all login data and private keys in a safe place.

[LTU_btc]

When I started, I didn't knew much about Bitcoin. Before starting I thought that's something like rocket science. I didn't read any books or something, I just tried to search for information to understand basic things at least. I used websites like Bitcoin.org, some forums, various articles and etc. And even today I can't call myself as crypto expert. I'm not tech savvy guy, so it's difficult to understand some things about Bitcoin and cryptography in general. And honestly, I'm not trying to go too deep into details, because there is just too much technical details which aren't that easy to understand for everyone.

[samuraijin]

It's really hard to keep up with the cryptocurrency development even for a programmer. Every coin is trying to introduce a lot of new terms to show you how innovative it is. But in many cases it turns out to be just another vaporware. And at the end of the day you see that you've waisted your time for nothing.

How many books did you read / how many courses did you complete before you started investing in Bitcoin? Can you honestly say: do you really have the time to keep up with the crypto world or at some point you just started to believe in tech instead of trying to grasp every single crypto feature?

Maybe most people find it very difficult to keep up with cryptocurrency development every year, which doesn't mean we can't balance it, because every year more and more users want to know bitcoin, because everyone switches to using Cryptocurrency, maybe a few years ago it was very easy to find work which is very good to invest without having to choose it, if at the moment if it is compared it is very difficult to choose a long-term investment and very often fraud occurs that makes some investors get a considerable loss ...

[Reid]

No. I dont have much time to keep up with every crypto currency that will come out.
The very least I could do is keep up with bitcoin news which is really my priority.

With investing though, I havent got books or took any courses.
Just this forum will give you a lot of knowledge about it. Videos also helps or audios which I listen everyday whenever I am at my day job.

Being lazy will gain nothing so better multi task when you have the time.

[TheClownSong]

It's really hard to keep up with the cryptocurrency development even for a programmer. Every coin is trying to introduce a lot of new terms to show you how innovative it is. But in many cases it turns out to be just another vaporware. And at the end of the day you see that you've waisted your time for nothing.

How many books did you read / how many courses did you complete before you started investing in Bitcoin? Can you honestly say: do you really have the time to keep up with the crypto world or at some point you just started to believe in tech instead of trying to grasp every single crypto feature?

I am not understand about programming or creating a node but i am understand that bitcoin is transparant distribution ledger and its hard to hack on transaction data. Its almost impossible to duplicate the transaction and i think its good for long term.

[gabmen]

It's really hard to keep up with the cryptocurrency development even for a programmer. Every coin is trying to introduce a lot of new terms to show you how innovative it is. But in many cases it turns out to be just another vaporware. And at the end of the day you see that you've waisted your time for nothing.

How many books did you read / how many courses did you complete before you started investing in Bitcoin? Can you honestly say: do you really have the time to keep up with the crypto world or at some point you just started to believe in tech instead of trying to grasp every single crypto feature?

I am not understand about programming or creating a node but i am understand that bitcoin is transparant distribution ledger and its hard to hack on transaction data. Its almost impossible to duplicate the transaction and i think its good for long term.

Well for me i didn't. Just read a few articles and forums and then managed to stumble upon btc talk back in the days, got in a signature campaign and pretty much learned most i know now. I'll admit i still have a lot to learn but i'm pretty aware of what bitcoin is, and what it aims to do, and where it is now, and where it's going. Not really interested in all the confusing technicalities.

[BitcSeo]

@stuffokator, the principle is quite simple.

There is nothing like a safe boat for someone offboarder. Get into the boat and you'll keep sailing to your destination no matter how deep the sea might be.

You learn while you belong and participate in forum like this. There is nothing like mistake-free in the tech-world
So no matter how many book's & lesson you might take. Their are certain mistake which are unavoidable.

Atleast, they make you a PRO!! 


Thanks

[thesmallgod]

I got to know bitcoin through crowdworking programme in 2013. When it was introduced as a one of the payment options. To me I do not know much before investing while I started but what I have always do right from the first day i registered on this platform is always monitor and read to understanding any post written by legendary members. In fact there are still many of them that I always visit their profiles and check there posts on investing. Later I started reading whitepapers and also ask questions directly from dev to know exactly what the project is all about before investing.

[coinwizard_]

Investors don't need to know about the tech behind it, just the movements in price. There is new tech coming out all the time like lightning network, segwit, and now mimblewimble which can change everything.

[kalstarzz]

I understand Bitcoin is only limited to progress that can replace money, besides that I consider it a tool for profit. then I decided to invest.

[MrPeriklis]

LOL, no idea haha. Was just like lets go "moooon".

[hxtop]

I don't think it is necessary to know all aspects of an asset in order to invest. Having basic knowledge and seeing recent trend might be enough. This is not only the case for the crypto-currency markets, but in the traditional markets, investors often make their decisions in this way.

[tenakha]

How many books did you read / how many courses did you complete before you started investing in Bitcoin? Can you honestly say: do you really have the time to keep up with the crypto world or at some point you just started to believe in tech instead of trying to grasp every single crypto feature?

I have been trading with other assets before and faced with it and as time goes by, I learn more as I try. I guess if you have been engaged in trading in the past, you should not work hard with courses(especially Forex). In fact crypto trade is easier and more profitable because of price volatility, unless huge risks are taken.