Learning Crypto #illumedati


Hey everyone, it’s Whatever Wednesdays again… which is quickly becoming Crypto Wednesdays. Today I wanted to just do a short post on “Learning Crypto.”

Learning Crypto - Small

Stock Photo from: Pixabay

Learning Crypto

I’ve only been in the crypto space for the last 5-6 months, which seems like an eternity in a market this volatile. Most of what I’ve learned is self-taught which I’ve picked up here and there from reading online… which in hindsight, wasn’t a great approach.

Granted, I’ve learned a ton about blockchain and cryptocurrency in a very short amount of time. However, because I am truly interested in the technology, I want to learn more in a more formal way, rather than just “on the fly”.

For this reason, I’ve had an interest in learning about blockchain and cryptocurrency in a more foundational sense. Just by being immersed in the space, I’ve learned the vocabulary and the context in which it’s used. It’s much like “Talking the Talk” in the financial/retirement space. However, I think it would be very arrogant and ignorant of me to think that I “know crypto” just from learning about from the various online sources.


So then what?

Well, I think the first step for me is accepting what I don’t know. I think I have a good grasp of blockchain and cryptocurrency, however, I I also think that I am missing a lot of nuances to the technology that I should know. For this reason I wanted to learn more.

In a recent interview that Charles Hoskinson, CEO of IOHK, currently working on Cardano (ADA), he suggested some learning materials:

  1. Bitcoin and Cryptocurrency Technologies on Coursera, created by Princeton University, taught by Arvind Narayanan, Assistant Professor
  2. The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order (Book – 384 pages)
  3. Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money (Book – 432 pages)

   


Have you done the course and read those books already?

No… not yet.

I ordered the books and they just came a few days ago. I just started The Age of Cryptocurrency today, and I’ve learned a lot about the history of crypto and bitcoin so far. It’s been a good read so far too. I’ll try to do a full review of both books once I finish them both.

However, since Charles Hoskinson is a really smart guy and has been in the space for a long time, I think any book/course recommendation he has is probably good.

I think the whole point this post is that you need to be cognizant that “You don’t know what you don’t know.” Unfortunately, I think the majority of the currency cryptocurrency ecosystem has a very superficial understanding of what blockchain and cryptocurrency is. The more I read and the learn, the more I realize of how much I don’t know. It’s the Dunning-Kruger effect all over again:

Dunning Kruger Chart

The Dunning Kruger Effect (Psychology)

Unfortunately, I feel that the majority of the people investing (gambling) in cryptocurrency are right at the height of “Mt Stupid” wayyyy on the far left of the curve. The reality of it is that I was probably right there with them the first month or two I was in cryptocurrency. Now I am firmly planted in the valley of the curve, and trying to learn more. Every step of the way as I learn more, I figure out how much more there is to understand — any in a superficial, non-technical way.

Warren Buffet says you shouldn’t invest in things you don’t understand — so I’m trying to understand.


TL;DR

Don’t just jump into crypto. Learn about it first.

If you don’t understand, don’t invest (gamble).

If you don’t believe, don’t invest (gamble).

It’s very crowded up on “Mt Stupid” right now, but there’s always room for one more.

Whatever Wednesdays Sensei

-Sensei

Agree? Disagree? Questions, Comments and Suggestions are welcome.

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