Do you see how stupid what you are saying is yet?
I could go on about the summations and other advanced math symbolics in this paper but you seem very out of touch with the knowledge base of most people so I'm not sure it matters.
You have CBOE offering futures on it. The prez of JPMC pro bitcoin. You have so many exchanges.
This ain't the era of mtgox, $10m pizzas and running your own full bitcoin node and joining a mining pool.
Bitcoin is out of it's infancy.
The futures are a nice touch, but they are cash settled so they will drift from spot.
We still do not have a spot market with swaps from companies you can trust.
Due to this, negative exposure is still difficult to replicate, hence why some brokers will not offer short side on the futures.
Jamie Dimon, CEO of JP Morgan, famously called Bitcoin "a fraud" that "won't end well" and is "worse than tulip bulbs."
You must be thinking of something/someone else?
https://www.bloomberg.com/news/articles/2017-09-12/jpmorgan-...
A slightly more apples-to-apples comparison: would it make sense for you to become an early investor in a new futures exchange, claiming it'll do "a new kind of futures trading", without having read any papers or textbooks on futures trading?
Actually though, the principles behind refrigeration are also refreshingly simple.
1. Compress gas (it heats up as a consequence.)
2. Expose the warm air to the atmosphere (it cools down.)
3. Decompress gas (it cools down even more.)
4. Expose cold gas to the area to cool.
5. Repeat.
Seriously went over your list expecting to find something I didn't know - but I can explain them all, without needing to look up wikipedia.
I may read too much.
Knowing how something works cannot be a prerequisite to using it. That is one of the purposes of division of labor in society.
I have control of my money and bitcoin is within the realm of learnability, so I'd say it should be required. It is intimate knowledge of a protocol with many working parts that will have a direct effect on your earnings.