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Topic: How do I explain Bitcoin in simple terms to someone? (Read 463 times)
To my knowledge Bitcoin is a priceless currency that just an individual can't control it's value .
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it is nothing but virtual money asset. That’s the best way to explain them.
Ask them to google it as it will explain it properly to them.
I am saying in a simple way like,bitcoin is like fiat in digital,but theres no one controling it like what the fiat money has,no banks can control its value as cryptocurrencies are decentralized.I do like explaining how blockchain technology can revolutionize almost everything,but we cant do anything about those people who wont believe what we are saying.
Tell them that bitcoin is a digital currency that can be used in transanction. It is an electronic cash that can be use un buying stuff, food even for paying bills or buying anything you want. Teach and guide them how to earn for themselves and make money from this technology.
It is nothing but Digital money and that is what bitcoins means in layman’s term.
You can explain Bitcoin in one word. Money.
That's all it takes. If he/she doesn't understand, then they don't know what money is
That's all it takes. If he/she doesn't understand, then they don't know what money is
You don't have to go into the details when you discuss it. I explained btc to my brother in the way he will understand it. I just say its a digital currency with limited supply up to 21M. Anyone can send it to anyone in the world and its intrinsic value depends to the market. Until he ask something besides the limited information you give, that's the time you can reveal more information. But to me, I just gave him some coins to consume that he can exchange it to fiat because that's the one way he will appreciates what BTC can do.
Bitcoin is a new kind of digital currency that, unlike other forms of payment, is designed for a world in which we are all digitally connected. Other forms of payment, like cash and credit cards, have their place, and probably won’t be going anywhere soon, but they aren’t really suited to the way we are going to be living in five or fifty years.
Bitcoin is a digital currency also known as cryptocurrency or virtual currency, build on top of the blockchain technology. Yes, bitcoin is nothing that you can print, touch, feel, or store in your safe or wallet. Bitcoin is virtual. Technically, bitcoins are bunch of numbers (0s and 1s) stored on a bunch of computers around the world.
With someone, the definition of Bitcoin is too hard to understand so I wonder whether we have a more simple way to explain to them? 
How to determine bitcoin (bitcoin, btc, Btk, bitcoin) in simple words? This is a new generation of decentralized digital currency, created and operating only on the Internet. It is not controlled by anybody, the currency issue occurs through the work of millions of computers around the world using a program for calculating mathematical algorithms. This is the essence of bitcoin.
Say that it's just a virtual currency that you can exchange for real money or buy something on the Internet.
It is a cryptocurrency and if they understand crypto world then you don’t have to explain much.
With someone, the definition of Bitcoin is too hard to understand so I wonder whether we have a more simple way to explain to them?
Show him some videos on youtube cause there are many clips where people are trying to explain what is the bitcoin and whole market of coins, i always say that this is the best way to teach somebody about crypto. he still thinks bitcoin is just a scam.
Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
With someone, the definition of Bitcoin is too hard to understand so I wonder whether we have a more simple way to explain to them?
Show him some videos on youtube cause there are many clips where people are trying to explain what is the bitcoin and whole market of coins, i always say that this is the best way to teach somebody about crypto. With someone, the definition of Bitcoin is too hard to understand so I wonder whether we have a more simple way to explain to them?
Bitcoin is a digital currency that people can send or recieve money using internet anywhere around the world without any central bank.
Simply put Bitcoin is a decentralized virtual currency meaning it does not exist in any physical form. It is based on the principles of mathematics and cryptography. If you understand it well yourself then you shouldn’t have much trouble explaining it to someone else.
With someone, the definition of Bitcoin is too hard to understand so I wonder whether we have a more simple way to explain to them?
My suggestion. Give him a book. I read a book called 'Mastering bitcoin', and it had all the knowledge that I needed, such as blockchain, private key and public key, hashing algorithms, etc.
If that person doesn't read books, give him/ her a decent website to learn about cryptocurrency.
With someone, the definition of Bitcoin is too hard to understand so I wonder whether we have a more simple way to explain to them?
You could just show them this infographic that many find helpful:
https://www.cryptowisser.com/cryptocurrency-explained-in-pictures/
All the best,
Cryptowisser
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