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/biz/ - Business & Finance

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5445298 No.5445298 [Reply] [Original]

do you feel like you fully understand crypto? i think it's very technical. like, most people wouldn't know what's the use of a hash function. and i think they wouldn't understand what a linked list in which every node has a hash of the previous node is. i tried reading the bitcoin whitepaper and i think i don't understand what the original problem that bitcoin was trying to solve was. also i didn't really get merkle trees. and it gets harder with other coins, like ethereum, which is fucking crazy. it's like you have to be a honest-to-god computer scientist

so i'm not sure why people would read whitepapers. i have the impression that most people don't actually understand them. is this the case? do you understand them?

>> No.5445332

>>5445298
fuck no but the people who break it down into simpleton format convince me to buy. I am using shills to make money. At least with safe investments its really hard to go wrong in this market on the top 40

>> No.5445350

>>5445298
Who cares? It's make-believe internet money that you can trade like stocks. That's all you need to know.

>> No.5445375

>>5445350
i guess so. but i see people all the time acting as if they get it. i'm a programmer and a math major and i don't fully get it

>> No.5445429
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5445429

>>5445298
>>5445298

>> No.5445478

>look at the bittrex charts
>the top volume coins are reddcoin, xvg, and dogecoin

this kind of shit makes me beleive crypto really is just a scam. all the top coins are shitcoin pump and dump scams

>> No.5445536

Listen op we are just trading bullshit

None of this shit solve any shit

Only a few have a working product

Etherium is only popular to trade shit and shit cats and shit coins and shit ethermom

Just trade shit

>> No.5445590

>>5445478
Trading volume on an exchange is not indicative of what the community is really interested and invested in ... and by “the conmunity” I mean the programmers and shit that are actually developing these projects for a reason, not us bottom feeders. Exchanges are just a by product. Eventually they will be replaced by decentralized exchange.

>> No.5445608

>>5445298
>>5445375
Mate, you don't need much more than a course in data structures to understand crypto. Brush up a bit, watch the vid I posted, and maybe read some laymen explanations before diving into a bitcoin textbook. As someone who will be competent in the tech behind crypto, you'll make a lot more than you would have if you were to just trade.
https://www.youtube.com/watch?v=bBC-nXj3Ng4

>> No.5445638

>>5445298
You don't have to understand the technology to make money. You do have to understand the technology to make long term predictions. Being a computer scientist drastically helps in this market, but it isn't necessary if you can
A) Sort signal from noise in /biz/
and
B) Pick up on chart patterns

>> No.5445812

>>5445298
I do read whitepapers even if I don't fully understand what the technicals are of it I have strong enough comprehension ability to get the general idea and whether or not it is useful.

>> No.5445847
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5445847

>>5445608
Thanks for linking that video, very helpful info

>> No.5445928

>>5445847
you really haven't watched the most popular "what is bitcoin?" video on youtube already?

>> No.5445948

>>5445608
thanks for the vid friend. i don't think it's super hard to understand (except maybe ethereum. it just looks so crazy).. but reading threads gives me the impression that even a cab driver can read a white paper and do sha-256 in his head

>> No.5446047

>>5445928
No, and I'm sure many other people haven't either considering it only has 1 million views