I am such a Crypto-Noob
Honestly I feel like such a newbie on this platform. There is tons of content that is currently below my understanding due to my plebeian-level knowledge of how cryptocurency works. It's a good thing that I can binge a ton food the videos that the enthusiasts on this very platform made for noobs.
I have a lot to learn, but hey, if it was boring what would be the point of making videos and trying Steemit period?
Does anyone have any advice? Or perhaps do you want to refer me to a specific video or Steemit channel that would be particularly helpful?
The reason I ask is because I want to get correct information. Last thing anyone wants when leaning about something new is to learn the completely wrong thing. Just look about how teachers taught children that Columbus was the first person to discover America. So maybe people are still believing that to be fact as they go into their adult life. I don't want to be one of those people when it comes to anything involving or potentially involving money.
Because I try my absolute hardest not to be an idiot.
Edit: to be most clear - I know some things but it's limited to the absolute bare minimum basics.
First thing to know about crypto: Right now especially it is a massive speculative market and there are a lot of people being deluded into thinking it WILL be the next big thing and that the cryptocurrencies they invest in will not burst / use any of their influence to make the crypto they have invested into worth more so they can sell before people realise they have bought valueless stocks. Take a lot of what people say with a grain of salt because I feel like 80% of people talking about crypto are stuck in a ponzi scheme.
I know you said you know the basics, but I'm going to link this anyway.
Short, simple and covers the bases. This is obviously focused on Bitcoin but that's still kinda the gold standard at the moment.
I'm not 100% on how Steem operates since its distribution model is vastly different and what you can actually purchase using Steem is limited (although that may change with time), but if you really want to be bored you can read the bluepaper for Steem here (https://steem.io/steem-bluepaper.pdf) and the whitepaper for the Smart Media Tokens here (https://smt.steem.io/smt-whitepaper.pdf).
Even though crypto is more like currency in how it (should) operate than shares at a stock exchange, people are treating it as such. Hence why people are losing their life savings to a dip in the market. Even though while you could still technically invest in foreign currencies (even though it's illegal in most countries) the crypto market is much more volatile given that it isn't regulated or backed up by much of anything. This will change in a decade or so but while people start to learn about it, as it gains some intrinsic value that people demand it for and as we reach the distribution cap for these crypto it will even out a lot more.
Essentially just read up on some intro to economics textbook, remove the central banks and replace that with a blockchain. That and it was mostly only used black market purchases on the silk road for the longest time because there was nothing to buy with it lol.
In terms of some things to binge watch, I couldn't tell you since I don't necessarily give a shit about crypto enough to read up heavily into it (I'd rather invest into something a little more stable if I had the cash) however I will say be heavily skeptical about people who are mostly focused on crypto. These people have probably invested their money into it and want to see returns so they will try to give it the most positive spin they possibly can to get others to invest which while maybe not in any malicious intent could misrepresent or neglect the downsides to crypto.
Thanks! I really appreciate how well that guy explained it. Other videos I've watched made my eyes roll with just how boring their voice made the material. Definitely subbing that guy.
I totally agree that I wouldn't be putting money into crypto, it's just a disaster waiting to happen, and I'm pretty much of the same opinion as you. Investments I would make need to be safer and more stable. (Though Investments, in general, can feel like gambling sometimes no matter what you do.)