TD₿: Why It’s Hard to “Get” Bitcoin: The Blockchain Spectrum by Dhruv Bansal
TL;DR Bitcoin is difficult to understand because it is sits at the intersection of multiple disciplines.
Hey Bitcoiners,
When an individual first discovers Bitcoin, it is typically met with confusion and skepticism. But if that person does the work and starts to understand its significance, it can often be an overwhelming experience that challenges their previous worldviews.
When a beginner has their lightbulb moment with Bitcoin, suddenly they will want to devour every piece of information that they can get their hands on about Bitcoin. However, for a newcomer first learning about Bitcoin, it can all feel pretty daunting. It can feel like no matter how much content they read and listen to, they never feel like they fully understand Bitcoin.
If this is you, don’t worry! This is a normal feeling that most Bitcoiners experience.
This is because when someone falls down the Bitcoin rabbit hole, they start to get pulled in a thousand different directions. Most don’t even know where to start. Should I study the underlying cryptography? Should I learn about the economics of it? Or maybe I should learn more about the problem Bitcoin solves?
The reason it can be so challenging for newcomers to comprehend Bitcoin is that Bitcoin is a brand-new technology that lies at the intersection of multiple disciplines. To really begin to grok Bitcoin, one has to have a good grasp on multiple areas of study like economics, computer science, political science, game theory, cryptography, etc.
Dhruv Bansal wrote this blog post that tries to explain why people find it so hard to “get” Bitcoin. (12/01/2020)
In many ways, this is what makes Bitcoin so special. It gets people to learn about all these different disciplines that they would have never taken the time to study had it not been for this new digital money that captivated them.
Bitcoin is the key to unlocking peoples’ desire to study important subjects that help them learn about how the world works around them, and that’s a beautiful thing.
So if you are a beginner reading this, do not stop learning! Keep following your curiosity wherever it goes. The truth is — nobody fully understands Bitcoin, so don’t get discouraged when you feel like you don’t understand every single aspect of this ground-breaking innovation.
As Bitcoiners frequently say, the Bitcoin rabbit hole is bottomless! Embrace it!
Tick tock next block,
Cory Klippsten
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Quote of the Day
“No one has found the bottom of the Bitcoin rabbit hole.” - Jameson Lopp, Co-Founder and CTO of Casa
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Riot Blockchain is searching for a Head of Public Policy to join their team. This critical role will develop and drive aligned policy priorities and principles for the company. Reporting directly to the CEO of Riot, the Head of Public Policy will interact with local, state, and federal legislative bodies and government agencies to represent and protect Riot Blockchain’s business plans and interests.
Not your particular skillset? Check out all the Bitcoin jobs at bitcoinerjobs.com.
Featured Event
Wednesday — Bitcoin Westwood Wednesdays has a special guest joining them…come meet Andy Edstrom, CFA, CFP, from 5:30-8:30 pm at the Tuck Room in LA! Andy is the Managing Director of Swan Advisor Services and a financial advisor at Wescap Group. This is sure to be a great time!
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Meme of the Day
(h/t @Bitcoin_ator)