• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Society Values Engineers More Than Economists – Bitcoin Adoption Will Benefit

Jp Buntinx by Jp Buntinx
7 years ago
in Bitcoin, Bitcoin Acceptance, Bitcoin Breaking News Brief, Breaking Bitcoin News, Breaking News, News, News teaser, Technology
0

When it comes down to figuring out the next logical step in the evolution of our society, there are a lot of different factors to take into consideration. One thing most rational people will agree on, however, is that there is a clear need for developers and engineers. Economists, on the other hand, are not required for the time being, as humans are perfectly capable of making their own decisions. Bitcoin is a clear example of why engineers are far more valuable than economists.

Also read: Bitcoin and Digitization: Overhauling Society in a Digital Age

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Engineers Rank Higher In The Grand Scheme of ThingsBitcoinist_Economists

To be more precise, engineers are more useful than economists at this stage in our society. That is not to say we will never need economists ever again, as the financial world is bound to undergo some drastic changes over the next few decades. However, engineers are far more versatile in making the world a better place in a shorter span of time.

The model of economics, as we know it, is based on the ideology that humans will make rational decisions at all times. That being said, human nature prevents us from being rational every waking moment, as we are influenced by emotions, senses, and surroundings. All of these factors can turn a rational person into someone making an irrational decision mere seconds later.

Engineers, on the other hand, are not confined by the borders of [ir]rationality, as their only constraints are human knowledge and the force of nature. Any less-than-perfect situation – of which there are many – will be tackled by engineers through a hands-on mentality. As a result, engineers have gained a reputation for coming up with new and innovative products, services, and even markets.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Truth be told, both economics and engineering are starting to strike common ground as of late. Rather than looking at a problem through eyes of a traditional economist, user-centred design is starting to play a bigger role in the thought process. Even though engineers have always focused on user-centred design, economists are finally embracing the same ideology. This new breed of thinking is referred to as “behavioral economics”.

Is Bitcoin a Result of Behavioral Economics?Bitcoinist_Bitcoin Behavioral Economics

When Bitcoin was released to the world, there have been those who immediately saw its potential, but many more who steered away from this disruption as long as possible. While Bitcoin presents itself as a dream come true for engineers and developers, its biggest opposers are people active in the economic and financial world. This is not a coincidence, as Bitcoin is putting the pressure on both engineers and economists at the same time.

It will take an extended period of time for economics to come around on the idea of Bitcoin, as the virtual currency presents a lot of challenges to say the least. But in the meantime, engineers and developers are exploring the boundaries of its underlying technology, and they create new solutions, platforms, and markets for everyday consumers to benefit from.

Bitcoin is another behavioral change economists will have to contend with. The everyday consumer wants change as far as the financial industry goes but relinquishing that power will not come easy. As there are more and more use cases for both Bitcoin and its technology, economists will have to follow and embrace this disruption, whether they like it or not.

Are you in the camp of engineers or economists in the Bitcoin space? Do you see a future without blockchain technology-based applications? Let us know in the comments below!

Source: Wired UK

Images courtesy of The Next Web, Shutterstock, EC Blogs

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jp Buntinx

Jp Buntinx

JP Buntinx is a freelance Bitcoin writer and Bitcoin journalist for various digital currency news outlets around the world. In other notes, Jean-Pierre is an active member of the Belgian Bitcoin Association, and occasionally attends various Bitcoin Meetups in Ghent and Brussels

Related Posts

North Korean Hackers

North Korean Hackers Suspected Of Perpetrating $100 Million Harmony Attack

6 hours ago
Oslo Freedom Forum, Fode Diop on stage

3 Lessons From The Oslo Freedom Forum: Why BTC? Nabourema, Likhachevskiy, Diop

13 hours ago
National Agency of Prospective Projects (NAPP) In Uzbekistan Green Lights BTC Miners

National Agency of Prospective Projects (NAPP) In Uzbekistan Green Lights BTC Miners

18 hours ago
Short bitcoin

ProShares Short ETF Becomes Second-Largest Bitcoin Fund In Record Time

20 hours ago
bitcoin etf sec iStock-1087330672

Why The SEC Will Reject Grayscale’s Bitcoin Linked Spot ETF

21 hours ago
Bitcoin ASIC Miners

Bitcoin ASIC Miners Plummet To Lowest Price Since Jan 2021

24 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.