Quote from: Nagadota on May 21, 2017, 02:32:13 PM

Quote from: Neoliberalism on May 21, 2017, 01:19:13 PM

QYY

Quote from: Okurkabinladin on May 21, 2017, 12:10:37 PM

Quote from: Neoliberalism on May 20, 2017, 03:26:53 PM

I am relatively new to this whole crypto thing. I'm still strugling to understand a shitload of info, terms and generally the way this industry works. Are majority of you guys here of IT background?
Is it possible to fully educate yourself and understand crypto technology if you are not dev/programmer?

I am not entirely sure, what you are asking about. As your question in the title of the thread is completely disconnected from the one in your OP post.

Cryptocurrency is a tool, that you can but dont have to choose. You can use it to your advantage even without understanding ins and outs of it, just like you use your smarthphone, bank account or automobile. It is a tool, not and end in and of itself.

I wouldnt be suprised at all, if some of the most profitable traders here barely knew how to turn on computer. Leaving tech stuff to IT crowd, while they focus on profit.

My question meant if its possible to be a good investor/trader of cryptos if you are not an IT guy. I cant see how someone with very limited knowledge can spot the pros and cons of cryptos and understand the underlying technology of various cryptos. If somebody has never turned on a computer ( metaphorically speaking) than based on which indicators would he make any desicion.

As I pointed out earlier, it's not hard to find out more. For investing and trading, all you need to understand is a reasonable amount of basic terminology so that you can understand discussions about fundamental analysis and news articles.

Cryptocurrencies are largely a speculative investment, and most of the cryptocurrency that people hold is not going to be spend on actual transactions.

To a lesser extent, this even applies to Bitcoin. Therefore it's a gold mine for chartists and "technical analysis" types. If you're good at fiat investments and are good at trading other volatile investments like penny stocks, you'll be good at trading cryptocurrencies.

Precisely, many traders see bitcoin just as another penny stock in its growth period. Sending money to exchange and securing their account being the most challenging tasks for them.

If, I were you, Id invest time into researching investing basics, sir. Technical and fundamental analysis, finabocci lines, eliot waves etc. There are some really smart guys even on this board, who are willing to share their knowledge and experience with you. Without fee.