Explanation of how bitcoin works for the regular people

nappoleon

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Quote from: megynacuna on November 12, 2017, 08:36:11 AM

Quote from: salihno71 on October 31, 2017, 07:21:08 AM

Quote from: cryptosaly on October 31, 2017, 07:10:12 AM

Nice video thanks for sharing with us.
It pretty much simplified the trust based system.
But someone in the video said 2027 bitcoin will be all over the place.
What do you think about that?

2027 is ten years from now. If the adoption rate continues to grow with the current rates, i think we will see widespread usage even sooner. True change will happen once the scalability issue is addressed in the proper way and fees become cheaper.

The adoption rate in itself might stop at some point if we don't properly address the scalability issues and so i think 10 years uis too far a time for them not to have had a solution for this problem and if they do i bet the rate of adoption will certainly increase and the change will begin.

I'm not sure if we really like wide spread adoption, these types of adoption where bitcoin is practically everywhere may invite unnecessary or unwanted attention for instance regulation and taxation. Sometimes adoption is not always a good thing.

megynacuna

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Quote from: salihno71 on October 31, 2017, 07:21:08 AM

Quote from: cryptosaly on October 31, 2017, 07:10:12 AM

Nice video thanks for sharing with us.
It pretty much simplified the trust based system.
But someone in the video said 2027 bitcoin will be all over the place.
What do you think about that?

2027 is ten years from now. If the adoption rate continues to grow with the current rates, i think we will see widespread usage even sooner. True change will happen once the scalability issue is addressed in the proper way and fees become cheaper.

The adoption rate in itself might stop at some point if we don't properly address the scalability issues and so i think 10 years uis too far a time for them not to have had a solution for this problem and if they do i bet the rate of adoption will certainly increase and the change will begin.

aoiaao

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Quote from: minersday on November 09, 2017, 06:05:08 PM

Of course that you can teach bitcoin easily to those people who were well introduced to the new technologies, it was difficult to teach my dad how to use a smartphone, but now he knows what bitcoin is and how it works, and he knows how to trade..
But it is difficult to teach bitcoin directly to those who does not even know how to use a smartphone or a laptop, it is almost impossible.
You only have to tell them that it is digital money, and that it can be cashed out.. this is the only way to make them think about it.

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Yukyzu

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giving information about btc profits is the best idea I think to explain about btc for regular people. so they will be interested to know about btc deeper and search for the information they need on the internet.

Alns

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I think that bitcoin fees are difficult to explain to the newbie ones, a lot of them does not even know that they really exist, and i have seen a lot of posts today about newbies that sent a low amount of bitcoin but 0.006 aprox were deducted from their balance because of that.
He just sent five dollars and he paid more than six only for the transaction fees, this is because they dont even know how does those fees works.
It is sad, but it is really happening, this is a thing that has to be explained to the newbie ones.

Shreek

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Quote from: salihno71 on October 31, 2017, 06:50:08 AM

Recently i have stumbled upon the video on this link https://qz.com/se/what-happens-next/1104608/bitcoin-blockchains-and-ethereum-ancient-stones-explain-moneys-future/ which describes in a simple language how the bitcoin works and where is the value coming from which i found that many people having problems understand. Enjoy.

can you explain the contents of the video? I have a problem with my computer, so can not play the video. what is it about how to find the right way to explain bitcoin to others? especially the layman about technology and bitcoin.

minersday

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Of course that you can teach bitcoin easily to those people who were well introduced to the new technologies, it was difficult to teach my dad how to use a smartphone, but now he knows what bitcoin is and how it works, and he knows how to trade..
But it is difficult to teach bitcoin directly to those who does not even know how to use a smartphone or a laptop, it is almost impossible.
You only have to tell them that it is digital money, and that it can be cashed out.. this is the only way to make them think about it.

Mei1418

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I will explain to them that there is money in the internet, that is where when people make a sale which is very far distance for example between countries, while bitcoin is one way to make the payment, bitcoin is obtained by doing currency exchange, maybe like that

DavidVUSA

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Awesome outtake, what matters really is the trust in the system and the liquidity, i think liquidity is still an issue but most than likely that will change when CME goes live. People are starting to understand that this is an ecosystem developing and not just a $7000 bitcoin that u couldnt make money out off sooner. People are questioning more and more even charity for God's sake, people dont trust the money flow. They will understand the power and fluidity of trustless ecosystems.

Blockchain for algorithmic growth. Cant wait to see what become of a species.

BitcoinBallerina

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The best thing you can do is understand it simply in your own words and just try and relay that message without sounding pushy. If they don't get it at first well that's okay because they will come back around when the price goes up and trust me it will continue to go up, as it has been because it's taking over fiat money and gold. BTC is decentralized, and it's blockchain is immutable. Others aren't.

Cryptosaint$

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Quote from: salihno71 on October 31, 2017, 06:50:08 AM

Recently i have stumbled upon the video on this link https://qz.com/se/what-happens-next/1104608/bitcoin-blockchains-and-ethereum-ancient-stones-explain-moneys-future/ which describes in a simple language how the bitcoin works and where is the value coming from which i found that many people having problems understand. Enjoy.

Thanks a million for sharing this! I have been waiting to discover a well done video that can help me explain what bitcoin and blockchain tech is to others. I am going to use this video like crazy.

I guess my one question about this growing economy that is potentially going to reach the 2+ billion people who do not operate off of a banking system is internet access is extremely hard to come by in those countries. How will so many people be able to interact in this market with no internet?

jizenlianyong

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Very interesting video. And yes, it seems to me that in 2027 bitcoin, if not everywhere, it will be used very widely. A lot of investors.
Perhaps, I will show this video to anyone interested in bitcoin, everything is fairly clearly explained.

Maricel2017

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Quote from: Vannie12 on November 04, 2017, 05:04:48 PM

There is a big work bitcoin did for the regular people. Regular people who are sometimes nothing left sometimes have. Bitcoin works for us by giving their hands to paved the road for us. By giving chances to those can't change their life. Giving opportunity that can suits for everyone, even those who just not finish study and cant find job.
It' s just not helping the poor people but also the students who really want to finish their study to help their family. Bitcoin not just giving small thing but the thing that can possibly change our life, our country, and our world.

For me bitcoin works for the regular people because everyone is welcome here in bitcoin whether you have a regular job or not as long as you understand the process of bitcoin. It helps people to have an income for their needs.

kiboloves

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Just looking at this video, it's really interesting, and it's very much in line with the current people's views on bitcoin. I want to ask, you find this category video where? There are no special bitcoin aspects of video website.

Kmrherradura05

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soohi

Before anything else we should first introduce what Bitcoin is. Bitcoin is a digital currency which we now called cryptocurrency. How Bitcoin works for regular people depends on how and what they are capable of. If they’d like to invest and keep their money sooner or later it will grow. You can pay bills using Bitcoins because nowadays some merchants are accepting Bitcoins. Some makes Bitcoin as their extra source of income. Whether you are employed or unemployed Bitcoin is for everyone.

Vannie12

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There is a big work bitcoin did for the regular people. Regular people who are sometimes nothing left sometimes have. Bitcoin works for us by giving their hands to paved the road for us. By giving chances to those can't change their life. Giving opportunity that can suits for everyone, even those who just not finish study and cant find job.
It' s just not helping the poor people but also the students who really want to finish their study to help their family. Bitcoin not just giving small thing but the thing that can possibly change our life, our country, and our world.

buwaytress

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Hey, that's a pretty nice video; I've seen aspects of it especially on the origins of money, but perhaps this is a much more relevant take in relation to Bitcoin.

Re: 2027, that's probably just a rough estimate of 10 years from now. But surely after 2017, mass adoption is well and truly on its way? Think about it... if a third of the world is still unbanked, that means that the widest possible adoption of any existing form of currency is only about 66%. Bitcoin mass adoption - has that ever been really benchmarked? We know from the latest Cambridge research in mid-2017 that there are about 20+ million individual Bitcoin users based on unique-type wallet addresses, and if we accept the findings that that number will triple this year, that's for the first time ever a number approaching 1% of global population.

I think mass use is already here. Mass adoption, next year or sooner than we all think.

nappoleon

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Honestly, in my opinion. There's really no regular people in crypto, cause when you endured that rite of passage of crypto you're no longer a regular person. Hence these regular people will hardly understand any of this until they stop being regular.

bummm

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I'll tell you as I see it, in 2 words). Bitcoin has become the first decentralized digital currency that is called now cryptocurrency.

It works only in Internet. No one can control it, therefore governments of some countries ban BTC and forbid all the other altcoins — it is not profitable for them: they will not get taxes anymore if all start dealing only with virtual money.

marckenigsberg

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Education is one of the biggest barriers to large scale adoption.
For example the fact that you can start by buying mBTC or even sats.
Many people are turned off by the high price for 1BTC

Topic: Explanation of how bitcoin works for the regular people (Read 485 times)