New vision about cryptocurrency

[Dillonhebist]

Some years ago, have been hearing about cryptocurrency but don't know anything about it, but when I came across a friend who is into cryptocurrency, anytime we are together he Always talk about how the coin rises, and how he sell when it rises  and how much profits he made after selling, to me it was easy and want to be part of it so I told he to put me through, he showed me how to buy, sell, swap.

Thought have learnt it all, to my own knowledge I basically classify cryptocurrency as a trade, not knowing that is the nursery aspect of cryptocurrency and they are much more which I'm lacking behind.

Every since I'm a member of Bitcointalk forum have heard many things which cryptocurrency can be use for and what it made for. my vision about cryptocurrency change totally.

I'm not writing this for anything I'm just being real because if not for bitcointalk forum I will not be more enlighten about cryptocurrency and even the BBCODE, Lightning network, it my first time hearing about it and having a little knowledge too.

[Jawhead999]

Lol why you need to learn BBCode for better understandment about cryptocurrency it seems you don't even understand and just wrote anything about you've read on this forum. You're also wrote lightning network but you didn't even mention Bitcoin at least once on your post. To be honest I don't think someone really need to understand the technical part, as long as you can understand the basic thing and how to secure your wallet etc, it's fine.

[Darker45]

Your experience is not uncommon. What brought me to Bitcoin wasn't decentralization or any of Bitcoin's philosophies either. It was only later on when I started spending time reading materials on Bitcoin that I started to appreciate it more than its potential to rise in terms of its price. Nowadays, Bitcoin is almost always attached to investment, which may not be wrong in itself but is definitely severely incomplete. There's actually so much more to Bitcoin than its price in fiat.

[pakhitheboss]

I donot understand what you want to convey to us. You have joined this forum recently and apart from mentioning in your post about Bitcoin you are referring to cryptocurrency. BTW, which crypto? I would suggest you to spend more time on learning rather than creating topics for merits that do not make any sense.

[pooya87]

Thought have learnt it all, to my own knowledge I basically classify cryptocurrency as a trade,
Every since I'm a member of Bitcointalk forum have heard many things which cryptocurrency can be use for and what it made for.

You may have been misled because cryptocurrencies (ie. altcoins) are made to be traded only and have no other use cases, at least 99% of them are like this specifically the top altcoins. This is why they never grow to be anything other than speculation tools and have no future outside of exchanges.

When it comes to bitcoin, there are actual utilities used in real world from being the only decentralized payment system to the immutable ledger that is used to store timestamped data.

[Dillonhebist]

Real appreciate Pooya87 and Wapfika for taking time to read my topic and understanding the content of information being passed.

When i use the word cryptocurrency I'm classifying all coins including Bitcoin. or is Bitcoin not a cryptocurrency?

In summary of what I wrote on my topic earlier, was that I thought cryptocurrency was only about trading I didn't know  they are more to it until I found this forum.

[PrivacyG]

When i use the word cryptocurrency I'm classifying all coins including Bitcoin. or is Bitcoin not a cryptocurrency?

In summary of what I wrote on my topic earlier, was that I thought cryptocurrency was only about trading I didn't know  they are more to it until I found this forum.

Bitcoin is a Cryptocurrency but some of us prefer to separate Bitcoin from other coins as in Bitcoin vs Altcoins because like pooya87 said, Altcoins are mostly used as assets for speculative trading and in the last few years so many people went broke by trading hyped up coins like DOGE or SHIB.  If you want to invest in something, invest in coins with real and actual future like Bitcoin.  If you want to speculate, go for trends or whatever coin's chart you think has a good future.

But as mentioned above.  No need to understand the technical side of Bitcoin.  It is a currency and if you learn how to use it, it is all you need.  Try out functions and read threads on this forum if you want to learn more about its technical side.  There is so much resource a human life is probably not enough to catch up with all the information around.  But the more you know, the more you will love it.

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Regards,
PrivacyG

[witcher_sense]

When i use the word cryptocurrency I'm classifying all coins including Bitcoin. or is Bitcoin not a cryptocurrency?

Generally, it depends on whether you differentiate between two, at the first glance similar, words -- currency and money. Take a real-world example, gold is money, whereas the dollar is a currency. Why? Gold is a decentralized asset or commodity with credible monetary characteristics, it cannot be printed out of thin air and has value only because a free market says so. On the other hand, the dollar is just a piece of paper or figures on a screen, it has no intrinsic value, can easily be printed, etc. It is a centralized entity that exists only by virtue of fiat. The free market would have never chosen the dollar as money. Now, you can draw parallels to bitcoin and other cryptocurrencies. Bitcoin is decentralized digital cash with programmatically defined and algorithmically protected, thus credible, monetary characteristics. It exists not because of fiat but despite the existence of fiat. It is money that has been chosen by a free market. Unlike bitcoin (money), other crypto (currencies) aren't decentralized, have a small group of decision-makers who controls each of them, they can be easily printed without having to prove something.

[Munir575]

Cryptocurrency is really wide, its like a subject on its own and you keep learning about new things the more deep you're into it. Understanding the basic and heaving knowledge of bitcoin itself is the major thing because all other alt coins were introduced after bitcoin already in existence.

[Dillonhebist]

When i use the word cryptocurrency I'm classifying all coins including Bitcoin. or is Bitcoin not a cryptocurrency?

In summary of what I wrote on my topic earlier, was that I thought cryptocurrency was only about trading I didn't know  they are more to it until I found this forum.

Bitcoin is a Cryptocurrency but some of us prefer to separate Bitcoin from other coins as in Bitcoin vs Altcoins because like pooya87 said, Altcoins are mostly used as assets for speculative trading and in the last few years so many people went broke by trading hyped up coins like DOGE or SHIB.  If you want to invest in something, invest in coins with real and actual future like Bitcoin.  If you want to speculate, go for trends or whatever coin's chart you think has a good future.

But as mentioned above.  No need to understand the technical side of Bitcoin.  It is a currency and if you learn how to use it, it is all you need.  Try out functions and read threads on this forum if you want to learn more about its technical side.  There is so much resource a human life is probably not enough to catch up with all the information around.  But the more you know, the more you will love it.

-
Regards,
PrivacyG

Thanks privacyG and witcher_sense  for enlighten me more on how to separate Bitcoin for altcoins. General i classify all coins as cryptocurrency even Bitcoin but now I will always specify  it  anytime been use.

[BIT-BENDER]

Lol why you need to learn BBCode for better understandment about cryptocurrency it seems you don't even understand and just wrote anything about you've read on this forum. You're also wrote lightning network but you didn't even mention Bitcoin at least once on your post. To be honest I don't think someone really need to understand the technical part, as long as you can understand the basic thing and how to secure your wallet etc, it's fine.

Many people want to sound Porsche, or like a technical guru, some believe that's the only way to earn merit or to be taking serious, so can go as far as plagiarising, just to attain that level.

I think newbies who doesn't want a generic progress end up pushing too hard the wrong way. 1 comes before 2 and so on, it's all a process and a route that is better enjoyed with understand the every stage right in front of you first.

[The Cryptovator]

When word comes to Bitcoin, the first comes to our mind is how to make a profit which is not right always. We should explain at the beginning to the new people that we can make a profit from Bitcoin investment. So likely you learn this at the beginning and now realize that there are a lot of things you need to learn. That's the reason when I introduce someone to Bitcoin first explain how it works and how it is volatile. So there is the risk of loss of funds as well. It's quite important to learn about Bitcoin technology and this ecosystem works. Hope you can learn more from the forum by reading rather than creating new threads.

[dbc23]

The motive for the thread is not  relevant,  the goal is making waves of improvement  every now then.  The forum might not be enough  to access the wealth  of knowledge  embedded  in the crypto encyclopedia.  To appreciate  crypto and the underlying  technology,  researching  beyond the forum is needed but be careful  to avoid plagiarism because  it's  an unforgivable  offense that will  waste your efforts  in just a single post

Get the knowledge,  know it for yourself and engage  the forum in a debatable  conversation with enough  knowledge  to back up your points you are in the right place

[KingsDen]

Your experience is not uncommon. What brought me to Bitcoin wasn't decentralization or any of Bitcoin's philosophies either. It was only later on when I started spending time reading materials on Bitcoin that I started to appreciate it more than its potential to rise in terms of its price. Nowadays, Bitcoin is almost always attached to investment, which may not be wrong in itself but is definitely severely incomplete. There's actually so much more to Bitcoin than its price in fiat.

This place makes people smart. I wasn't as smart as I am today, credit to this forum. I used to see bitcoin's relevance only when it appreciates against fiat. Not until I understood that bitcoin is freedom, bitcoin is privacy, bitcoin is independence and block chain is the new order technology.  There is more to Bitcoin that what we are using presently.

[Bamjos]

I have similar testimony about this forum, in the little time I've spent here, I've been more enlightened than I was before about cryptocurrency (especially bitcoin).

I've asked question that was answered with enlightening answers, I've been able to clarify some misconceptions I have, and I feel I've embarked well on a journey of knowledge acquisition.