Noone is expecting you to understand crypto, but I hear this about modern technology in general all the time and I just don't buy it. It's only brain-melting if you've spent your entire life being deeply incurious. There are 80-90 year olds who understand this shit just fine because they bothered to keep up.
Apparently I'm an elder.
The shifts in tech were easy.
It's the repeated economic punishment, school shootings, terrorist attacks, and political dive bomb this country has put us through that's been tough.
I thought this was a Canadian site? You must be usaian
I remember being happy to watch whatever came on one of the four channels that your TV could pick up with a rabbit ear antenna.
I don’t expect them to understand crypto. No one expects them to understand crypto.
I expect them to understand FUCKING FASCISM.
Yeah.
We can move on to "complicated" things like crypto after we've made sure people understand basic things like FUCKING FASCISM.
Priorities.
elders
1990
Nobody is expected to understand crypto. Same with the stock market and generally the economy. If it was simple and see thru you couldn’t run this many scams.
Same with the stock market and generally the economy.
Okay, you can tap the breaks on that one. There's a book from 1949 called "The Intelligent Investor" that's been the benchmark for savvy stock market analysis for generations. Hardly the only one (although a lot of the newer stuff is just variations on the core themes). Understanding price-to-earnings, market share, debt-to-asset ratios, and marginal return gets you a long way towards consistent middle-of-the-road long term safe returns.
Same with The Economy. Get a copy of Piketty's Capitalism in the 21st Century and you will have a firm grasp of macro-economic models and trends by the end of it. You'll get a core understanding of the difference between short-term investment returns and long term value creation. You'll get an idea for the broad reasoning behind different public policies and their impact on the broad growth and development trends seen over the last 500 years.
There's no need to mystify markets or economic systems. In the same way that a modern physician has a generally firm grasp of the human body (without knowing how every single cell is going to behave or every single genetic variant of human is going to respond to a given treatment), a modern business analyst has a generally firm grasp of their industrial or market focus.
Even crypto is something people can broadly understand as a modern iteration of a privatized experiment in currency manipulation. The thing about crypto is akin to understanding how a casino works. Analyzing the system doesn't mean you're going to be able to profit from it. Its like analyzing a grizzly bear with a plan to engage it in a boxing match. The best analysts will tell you "You're going to get horrible mauled if you interact with this thing, stay away."
If it was simple and see thru you couldn’t run this many scams.
The scams aren't a product of (lack of) transparency so much as they are the result of misinformation and market manipulation.
You've got a guy in a big wagon with a bullhorn selling "Better Than Aspirin!" for $10/pill right outside a pharmacy selling aspirin for $3/bottle in a bottom shelf at the back of the store. The moral of this isn't "Nobody will ever understand pharmaceuticals". It is that there's is a great deal of money in capturing people's attention and then lying to them.
In the same way that a modern physician has a generally firm grasp of the human body (without knowing how every single cell is going to behave or every single genetic variant of human is going to respond to a given treatment)
But the cells existed before us and we are simply trying to understand them.
We created the economic system and now we make conflicting theories about how it behaves.
Now people wait in line for Pokemon cards. 🤔
I understand crypto... and it is utter shit.
People used to enjoy anime and MST3k episodes on fifth generation VHS copies. Crypto is worse than that.
People used to enjoy anime and MST3k episodes on fifth generation VHS copies.
As a general rule, I prefer getting torrent links from friends in a Discord stream over huffing it over to a Blockbuster and hoping their single copy of "My Neighbor Totoro" isn't checked out. You can make the case for a better brighter tech future.
Just don't put half your paycheck into "TotoroCoin" because its trending on pump.fun
You know why vhs quality degraded with every generation of copy? It wasn't an accident or a technical problem, it was deliberate.
They want to discourge people from copying their tapes, so there was a mechanism in the VCR to actually cause some drop in quality when you taped something.
This is why TV tapings of a movie would never be as good as buying/renting the same movie from a store. Even if you used a virgin tape.
However the original quality was so shit you don't really notice.
Prior to true HD home media we really didn't know any better. I grew up in Dubai and the Disney Aladdin film was actually banned there, but not before some pirated copies came out. That pirated tape was really poor quality but I didn't notice or care. Seeing the 1080p, however, totally blew my mind.
MST3K was great, and anime is good.
Goddamn I'm not that elder! But also true
1990 time for Guru
i remember standing in line for dvds. we were hacking regionlocked discs before nft was just a scammer's wet dream. we were moulded by early modern technology.
Crypto? Yes, I know what a pyrimid scheme is.
Who is expecting them to understand cryptography?
A yes the RS encryption, public key, private key ...
I vaguely remember
- Fuck you
- Who the fuck do you think you are?
- crypto is a fucking scam
Crypto isn't a scam. It's a fantastic way to protect yourself online and HTTPS has been a game changer. Crypto currency is a scam though.
So people who 35years old are elder now.
Get back in the lounger grandpa
I can't. I have to work to afford food and shelter until I die.
I'm 37, I'm not old!
Yes.
Fuck, I'm considered an ELDER now?
By someone old enough to not just be a dad, but identify so much that it's their username. Fuck this kid. I'm not old. Just getting fat, bald, slow, dumb.. oh wait.. maybe they're into something 🥹 😭
To be fair, us elders had grifts and money laundering too, so crypto is nothing functionally new.
The shift was 9/11 happening and everything that happened after.
For the US maybe. For my area it was the Russians finally going home and now they want to come back
Before 1990?… fuck you.. I have kids born before 1990… elder my ass … I probably understand crypto better than you do…
I’m not bitter. Not at all.
Ok. Before you get mad. Do you think you are a normal representative of your age group?
If you walk into a room of people you don't know but who are all likely born within +/-5yrs of you, would you expect to be able to talk about crypto with any sophistication and at least half would be able to follow?
If not, then the generalization is true even if it doesn't apply to you specifically.
Oh I wasn’t mad, it was meant as more an humorous thing more than anything. I should have added “Now get off my lawn!!”. And yeah a lot of people in my age group wouldn’t understand. I’m also surrounded by a bunch of nerds my age so my perception is a little skewed.
But you might be surprised how many IT folks are in my age group. It was a good job to get into in the 1990s. So there are lots of techy mid to late 50s out there.
You think half of any group of zoomers can talk with sophistication about Crypto?
SMH. Dear boy. We elders were taking it to the streets in the 60’s and 70’s—in huge numbers. We organized without social media, were willing to face danger and arrest, and got shit done. We were using DOS before you were probably even born (do you know what that is?). While many of us are, in fact, fading, there are legions of us with knowledge and experience you will never understand until YOU are an elder.
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