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Topic: Anyone have a simple explanation of Bitcoin even your Grandma would understand? - page 3. (Read 3584 times)

newbie
Activity: 42
Merit: 0
I had to explain it over thanksgiving, I compared it to stocks as it's value can change daily but no one controls it.

that never ends well, misses the value of the network in the idea of a bitcoin.

If I try to explain TCP/IP stack to my grandmother I will put her to sleep. A simple understanding without all the techno babble is what I gave them. I did explain that I have these specialized computers that solve math problems really fast and that works toward making a bitcoin.

I have had to teach classes on subnetting to people who only wanted to make games, that was fun. Sometimes you just have to go all Barey style.

 
full member
Activity: 128
Merit: 100
Fortune favors the bold, and sometimes the bald.
I had to explain it over thanksgiving, I compared it to stocks as it's value can change daily but no one controls it.

that never ends well, misses the value of the network in the idea of a bitcoin.
newbie
Activity: 42
Merit: 0
I had to explain it over thanksgiving, I compared it to stocks as it's value can change daily but no one controls it.
hero member
Activity: 868
Merit: 1000
has anyone ever been able to come up with a <200 words explanation of what bitcoin is, in simple english, without words like "blockchain" and "hash", that would make even your grandma understand what bitcoin is?

there should be a prize for that, should anyone achieve it.

Bitcoin is to banking what the internet was to information exchange. Easier, faster and more convenient than traditional banking. Independent, giving freedom back to the people, and not in the hands of a few powerful institutions. No need to trust a central system, but it's backed by mathematics that is secure.
legendary
Activity: 1078
Merit: 1003
It's a peer-to-peer distributed accounting ledger, invented to remove the trust required in the banking system.
legendary
Activity: 1372
Merit: 1000
--------------->¿?
Just tell her it's internet cash.
full member
Activity: 168
Merit: 100
member
Activity: 336
Merit: 10
has anyone ever been able to come up with a <200 words explanation of what bitcoin is, in simple english, without words like "blockchain" and "hash", that would make even your grandma understand what bitcoin is?

there should be a prize for that, should anyone achieve it.
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