Ibian
Legendary
*
Offline Offline

Activity: 1960
Merit: 1182



View Profile Personal Message (Offline)

Ignore
March 17, 2019, 09:44:49 PM

Why Most Educated People Fail to Understand Bitcoin

Misir Mahmudov, a widely-followed and respected bitcoin (BTC) analyst, has argued that “most educated people fail to appreciate bitcoin because they only specialize in one field.” In order to truly understand how bitcoin works, Mahmudov, a financial economics student at Columbia University, recommends having some grasp of basic computer science and economics concepts.

First proposed in a whitepaper published in November 2008 by its pseudonymous creator, Satoshi Nakamoto, the Bitcoin protocol specifies how an electronic peer-to-peer (P2P) cash system should work. For the first time, modern cryptographic techniques were applied to create what’s now a multi-billion dollar experiment in monetary theory.

https://www.cryptoglobe.com/latest/2019/03/why-most-educated-people-fail-to-understand-bitcoin/
I agree. I have no higher education, never cared much for school, but I like to know stuff so I know a little about a lot of things. Politics, history, economy, math, psychology and being a computer nerd all add up. If you lack any one of them you won't get it. Without history you won't know just how bad economies and states can get, without politics you won't know where we currently are, without psychology you won't understand what drives people, without computer knowledge you won't trust the system, without economy you won't even understand something so basic as supply and demand. Sometimes broad knowledge is what it takes.

You obviously do not understand bitcoin if you can't figure out it's not possible to create a decentralized digital currency because transaction validators are always designed to centralize.  The variables that cause this are numerous, compounding in nature, and not possible to magically get rid of.
I understand enough psychology to see you have some kind of emotional motivation. Which is fine. But it would be healthier for you if you could admit it. To yourself if nothing else.