Tech and tech-related crazes often have the ability to bemuse and confuse. Even those who have grown up with computers and iPhones can struggle to get their heads around some of the latest innovations. For example, take the idea of quantum computers and computing. Using ethereal concepts such as superposition and entanglement, experts are working to create the next generation of computers. However, despite how impressive and powerful these creations could be, there are very few people that actually understand them, at least at the moment. Even though we all know what a computer is and carry out basic maintenance on it, the concept of quantum computing is beyond what most of us can comprehend. However, that doesn't mean that once they are released, we won't be able to take advantage of their power.
As Technology Becomes Mainstream, It Becomes Easier to Understand
Put simply, new technology isn’t always easy to get to grips with, regardless of how old you are. However, what’s great about tech is that it evolves. Once an idea catches on, the academic concepts get boiled down into a more palatable package that the general public can digest. This is something that’s happening in the cryptocurrency world right now. Even if you think you’ve got more chances of learning to regrow your hair than understanding cryptos, just bear with us.
When Bitcoin went live in 2009, it was something only those with knowledge of coding were interested in. Fast-forward to 2017 and the digital currency was making the headlines and its value was soaring towards the $20,000/£15,800. Almost overnight, Bitcoin had become a mainstream commodity that everyone was interested in. With that being the case, developers and crypto companies had to evolve. The upshot of this is that it’s now easier than ever to learn about and, importantly, invest in Bitcoin.
From Theory to Practice
As a starting point, you can take some time to read a beginner's guide to Bitcoin. In addition to these guides, you can watch YouTube breakdowns aimed at novices, such as The Guardian’s animated series (see video above). These overviews will not only give you a brief history of the online token but also introduce concepts such as decentralisation and blockchains. For the uninitiated, these terms can look like gibberish. However, as we know, it’s never too late to become fluent in a foreign language.
Once you’ve understood the basics of cryptocurrencies, there are now ways you can start to invest and trade coins without any fees. Using an established online trading site, you can create a demo account and buy/sell using virtual money. Even if this doesn’t result in you actually investing in Bitcoin, going through the process will give you a greater understanding of how the market works and, therefore, why prices can rise and fall.
Finally, when you’ve mastered the basics and gained some practical experience with Bitcoin, the final way to learn more about this new-fangled technology is to read the news. Every major publication, from The Times technology section to CNN, now has a dedicated crypto column. Covering everything from technical developments to celebrity endorsements, these media outlets will ensure you get a complete insight into the industry. Naturally, the process of learning about Bitcoin may not be easy. However, unlike the quantum computer vs current computer issue, the gap between digital money vs physical money isn’t as vast. For that reason alone, you’re never too old to understand Bitcoin.
About the Author / Gareth Hargreaves
Gareth looks after all editorial content on 50connect. He is the Swiss Army knife of content ideas and production.
