Actually getting a newbie to experience Bitcoin is not a very difficult task. Only imparting some knowledge to them can work from here. I taught some new people about Bitcoin. But I taught them about the bounty section.
The first thing I teach is this: I first have them pick a wallet and then write down the wallet's seed phrase in a notebook. I told him that no one can steal this notebook. After some time I taught them about bounty related work.
Later when they came to me I taught them the steps of business. Then we discussed investments. I have revealed three currencies for them to invest in: Bitcoin Ethereum and BNB. But I didn't ask them to invest in shit coins. Now they have gained a lot of experience and are earning a living from it.
Topic: How do you describe bitcoin to a newbie? - page 2. (Read 571 times)
Good day everyone
I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
For me, if Ima gonna tell someone new to the crypto world or to Bitcoin, I will not tell them about the technology, the concept, or other information that will make someone being confused much before undertsanidng. because actually, the theory of Bitcoin is actually very wide and deep. So, this will be probably difficult to understand for some newbies. I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
I think that telling this for newbies can be done by giving small information about Bitcoin, including the risk and profits, explaining to them how the journey of Bitcoin, how Bitcoin can earn money and also can lose the money because of its risks.
Can somebody assist me in anyway?
Despite all the ways to teach beginners. I usually teach the first thing about the risks of Bitcoin, because bitcoin has risks associated with investing and security. I Remind the person about this risk and how they can protect their investment by following proper security practices.After that, just about the concept of bitcoin, start by explaining the basic concept of what Bitcoin is, how it works, what differentiates it from fiat currency and what advantages can be obtained by using Bitcoin. The latter told him to look for as many references as possible in online media because it could help someone get to know Bitcoin better.
Can somebody assist me in anyway?
Despite all the ways to teach beginners. I usually teach the first thing about the risks of Bitcoin, because bitcoin has risks associated with investing and security. I Remind the person about this risk and how they can protect their investment by following proper security practices.After that, just about the concept of bitcoin, start by explaining the basic concept of what Bitcoin is, how it works, what differentiates it from fiat currency and what advantages can be obtained by using Bitcoin. The latter told him to look for as many references as possible in online media because it could help someone get to know Bitcoin better.
Like every other domestic currency that's just how bitcoin function only that it's a decentralized currency not under the control of any CBDC. If you're to introduce bitcoin to anyone for the first time you don't necessarily need to go deep down to technical aspect, it just has to start with the basic intro's for starters. You can work with these materials: A-Z mini crypto dictionary https://bitcointalksearch.org/topic/a-z-mini-cryptocurrency-dictionary-3469416
https://learnmeabitcoin.com/beginners/
LEARN ME A BITCOIN:
https://learnmeabitcoin.com/
Mastering Bitcoin
https://github.com/bitcoinbook/bitcoinbook
https://learnmeabitcoin.com/beginners/
LEARN ME A BITCOIN:
https://learnmeabitcoin.com/
Mastering Bitcoin
https://github.com/bitcoinbook/bitcoinbook
Don't get yourself or someone you are telling about it confused with the technicalities or complex concepts behind Bitcoin and the blockchain, you don't really need to know or understand everything initially to be able to buy, store and use Bitcoin or any other cryptocurrency. You should only understand the basic things and if you are actually interested, you will learn everything gradually.
As a start, you should just know that Bitcoin is just a digital currency that only exists on the internet and has no actual existence, and it runs within its blockchain which is simply a thing that records and keeps all the information about the transactions people make using Bitcoin. You can buy Bitcoin from exchanges like Binance and can keep them in a wallet like Electrum from where you can send or receive Bitcoins just like an online banking application.
As a start, you should just know that Bitcoin is just a digital currency that only exists on the internet and has no actual existence, and it runs within its blockchain which is simply a thing that records and keeps all the information about the transactions people make using Bitcoin. You can buy Bitcoin from exchanges like Binance and can keep them in a wallet like Electrum from where you can send or receive Bitcoins just like an online banking application.
Good day everyone
I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?
You can read a bit of writing and a short video about bitcoin here,I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?
[1] https://www.investopedia.com/terms/b/bitcoin.asp
to understand blockchain technology, you can read this article and a little video,
[1] https://www.investopedia.com/terms/b/blockchain.asp
(once there was a newbie who asked me about bitcoin and i gave him the video reference above) understanding what is bitcoin, blockchain technology, and altcoin is not difficult as long as you have a strong intention to understand it.
Bitcoin is like digital cash that you can send to anyone in the world without needing a bank or any other intermediary. It operates on a secure and decentralized network, which means that transactions are transparent and cannot be altered or reversed once they are confirmed on the network.
Start by buying some coin. When you buy them visit any of the block explorers an example could be this. See how this coin got recorded on this explorer and check if it tallies with the balance you have on your wallet. Do this repeatedly for all transactions that way it will be very much easier to differentiate between the Bitcoin you bought and the blockchain that keeps the record.
You could as well watch videos and read books about how the both work but with owning this coins yourself it will be more easier to differentiate the two and know what role each is playing.
You could as well watch videos and read books about how the both work but with owning this coins yourself it will be more easier to differentiate the two and know what role each is playing.
Good day everyone
I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?
I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?
Its another form of currency where you can use it every transaction you want online this is what you can describe this on not technical things. But other call it up as investment since they used it for holdings then wait for the value to rise up or trading.
Also you don't need to stress up yourself about how yo describe it since everyone have different opinion about that just continue to learn and learn your purpose on why you use bitcoin because this could make you enjoy buying it.
~snipped~
Well, instead of using the term legal tender, it would be most appropriate if you just call it a currency; Bitcoin is a legal tender in only two countries all over the world, and that's in El salvador and Central African Republic...
Can somebody assist me in anyway?
Away from all those terminologies and jargons concerning Bitcoin, I like to explain it the simplest way I can to newbies as two things – legal tender and (2) an asset. Those who understand buying and selling will easily catch up with that. I don't like being highly technical when teaching anyone Bitcoin because it can be confusing and exhausting for the learner and then make them lose interest. In addition to this, bitcoin is just a digital form of money you can spend, it is decentralized, it's not fiat or cbdc, bitcoin is a cryptocurrency, you can exchange your fiat to bitcoin on exchanges via p2p network, you can make your bitcoin serves as your profitable investment by holding it in your decentralized wallet and ultimately know that bitcoin is volatile, which means it's price is not fix, it can rise and fall, and you can't loose your entire asset at this cause, finally know that bitcoin is not a ponzi scheme where you get rich quick and loose everything as well.
Good day everyone
I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?
Yes Bitcoin best trading coin in crypto currency in past and future I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?
In fact, when I first learned about Bitcoin, I thought it was "gold" but in digital form that could be mined, but after learning about it, I realized that it was different.
Okay well, now you know better, it is much better to teach newbies the correct thing from the get-go, they do not have to get an erroneous view at first, only for it to be corrected later, it might cause them to make mistakes at the initial time. I know that when quite a lot of people hear Bitcoin mining, they think it is the same process as mining gold, but it is completely different. Imo Bitcoin and gold aren't analogous, but anyway i get your point and what you are trying to say. 
Good day everyone
I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?
The concept of Bitcoin is quite simple; all you have to do is decide that you want to learn something new and be prepared to understand the differences between the words you mentioned.I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?
Certain materials and books have explained all of these terms better and further explain the fundamentals of Bitcoin, Cryptocurrency, and Blockchain in a layman's language for easy understanding; I am sure many forum users have provided you with enough links to get a solution to your questions, and many have properly explained to you.
I will recommend you go through learnmeabitcoin.com for more explanation.
Bitcoin wallets are digital tools that allow users to store and manage their bitcoin holdings. There are several different types of wallets available, including web-based wallets, desktop wallets, and hardware wallets. Bitcoin is a digital currency that operates on a decentralized network of computers. This means that there is no central authority controlling the currency, and transactions are verified and recorded by the network itself. Bitcoin can be bought and sold like any other currency, and it can also be used to purchase goods and services.
I would start with the simplest step-by-step. A beginner will surely compare Bitcoin with money, explaining the difference, those people who take their time and ask questions in the style they would prefer to hear answers will find their answers. In addition, Bitcoin is difficult to describe in one day, if we talk about its full explanation. For some, initial knowledge will be necessary, while others are interested in technical issues. There are many videos, and literature about bitcoin, that send beginners to read, and only after understanding some points, do people have more correct questions, thus there is a path that helps to learn more successfully.
Usually I will compare it to gold, because it is the simplest thing that can be explained to the layman. But if they want to know more about Bitcoin I'll usually tell them to read an article on Binance or Coindesk and then if they're having trouble digesting it I'll explain the parts they find confusing. Because if I explain thoroughly it will take my time because quite a lot of parts need to be explained, it's better for them to learn it by themselves.
Bitcoin is quite different from gold in numerous ways; i know quite a lot of people call Bitcoin "digital gold", but that's the closest the similarities can get to, there are so many differences between the two assets/currencies, and comparing the two of them is not an ideal way to explain what Bitcoin is to a newbie.Having said that, there are better places to get information and resources about Bitcoin than Binance articles, do not be deceived that Binance is pro Bitcoin, they care more about their shitcoins and their own pockets. If you know people who want to learn about Bitcoin, then tell them to join this forum, and good articles that would get them started would be made available to them, and if they are tech-savvy they can even start off with the Bitcoin whitepaper.
That's right, I know that gold and bitcoin are not the same, but for a newbie they might understand better if bitcoin is analogous like that. Because most newbies understand bitcoin like that much more than if they were told that bitcoin is a digital asset like e-money. In fact, when I first learned about Bitcoin, I thought it was "gold" but in digital form that could be mined, but after learning about it, I realized that it was different.
Away from all those terminologies and jargons concerning Bitcoin, I like to explain it the simplest way I can to newbies as two things – legal tender and (2) an asset.
Well, instead of using the term legal tender, it would be most appropriate if you just call it a currency; Bitcoin is a legal tender in only two countries all over the world, and that's in El salvador and Central African Republic, thus i don't think the term legal tender can be used to refer to Bitcoin, and who knows when another country is going to make it one (a legal tender) in their shores. Can somebody assist me in anyway?
Away from all those terminologies and jargons concerning Bitcoin, I like to explain it the simplest way I can to newbies as two things – legal tender and (2) an asset. Those who understand buying and selling will easily catch up with that. I don't like being highly technical when teaching anyone Bitcoin because it can be confusing and exhausting for the learner and then make them lose interest. Jump to: