Post
Topic
Board Bitcoin Discussion
Re: How good were you at understanding Bitcoin tech before investing in it?
by
hatshepsut93
on 25/01/2019, 13:04:44 UTC

you don't need to read a book or have any understanding of the "technology" behind bitcoin to start investing in it. would you also read books on understanding the technology that Apple is using in its product before buying the shares of their company? so why treat bitcoin any differently?

I don't think it's correct to compare Bitcoin with Apple stock. With stocks people generally try to calculate the company's profit to determine the value of a stock, but it obviously does not apply to Bitcoin. Also Bitcoin and crypto are far newer than consumer electronics, so it's important to understand the technical details to avoid at least the most obvious scams and fallacies. For example, there was a FUD recently that said that Bitcoin will succumb to a "death spiral", but anyone with some understanding of mining would see that it's just nonsense.