Topic: How do you explain Bitcoin or crypto to complete newcomer - page 3. (Read 3289 times)

Maybe I think the forum page deals to give many answers already or should ask an experienced person who has been there for a long time in BTC
Also we should let them learn on their own
And for those who have least interest in it and just want to do time pass learning it I hate that type of people

This is the best website for the newcomers https://bitcoin.org/en/ everything that you want to explain from what bitcoin is and on how they are going to choose their wallets. But still there are a lot of things that a newcomer must learn but don't just spoonfeed them. In the latter part of their journey, they will know the other things that they must know. There are also a lot of videos on youtube, where you can search like bitcoin for beginners.

I have used paypal as a parallel. read on:
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bitcoin is paypal for nerds

paypal is a virtual wallet, they use ur email address to track ur balance.

bitcoin is a software wallet. I use various apps to track our balance.
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that's right, *I* hold the balance. not some 3rd party company like paypal. and my balance is posted on a public ledger that anybody can reference for authenticity.
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paypal uses regular currency like USD, EUR, etc

bitcoin uses a nerdspeak unit of measurement called satoshis. it is valid up to 8 digits. so that 1 satoshi is 0.00000001 bitcoins
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Lets say ur paypal uses USD as base currency. and u have 10 usd in ur wallet. then the value in ur paypal wallet is 10usd.

but what if ur paypal balance is USD and u want to buy somthing with local currency say SGD, HKD.. this is possible, paypal wil simply convert ur USD balance to equivalent amount in SGD or HKD and ur supplier wil get paid in the currency they want using an exchange rate that paypal will impose on you
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as for bitcoin, conversion from btc to currency like usd is also possible but this has to be done manually. No standard gateway exists right now to readily convert btc to regular currency. Altho a lot of such services are already available in the market, linking btc balance to a debit card system.
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the exchange rate from bitcoin to regular currency is volatile.
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no ONE company or person is behind bitcoin. instead it is an autonomous decentralized platform .. what this means is that the users who participate in the ecosystem -- miners, wallet holders, vendors who accept bitcoin payment -- are the ones who collectively comprise the bitcoin 'organization'. with more participants in the ecosystem, bitcoin will thrive.
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the more people who use bitcoin, the stronger it becomes. quite like paypal, in this regard, because paypal is only as valid as the number of participants willing to send/receive, payments, and keep stored value in their paypal wallets
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just as nobody is forced to use paypal... so it is that nobody is forced to use bitcoin.
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the same cannot be said about regular currency, like USD as an example. In the US, one is not supposed to refuse USD payment because laws exist to confer upon it the status of 'legal tender'. In the US, I understand that to refuse payment in USD is a misconduct that carries penalties.
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Because bitcoin has a finite supply (fixed maximum supply of coins) as against paypal currencies, the value of bitcoin 'satoshis' are wont to increase.. unlike the value of ur paypal balance which is exactly -- no more and no less -- than the regular money that it uses to measure ur balance.
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for example if, 6 years ago, i deposited 10usd into my paypal wallet and did not touch it eve since, then today that wallet is worth exactly 10usd.
on the other hand, if 6 years ago i had deposited 10usd into my bitcoin wallet, then today that wallet would be worth.. around 1,800usd
for reference: 8 July 2011 = $31.00 = top of first "bubble", followed by the first price drop; today bitcon price is 5760usd;
computation: $10 / $31  x  $5760 = $1,858
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as more people want to own bitcoin and therefore buy and keep it in their possession, there are then fewer bitcoins circulating in the marketplace. like a rare limited production gold coin, for example, with only 21 million of it in the world. if 20 million people each buy 1 coin and keep it their a safe, then only 1 million gold coins remain circulating in the marketplace and the value of these are bound to go up as long as more people want to acquire 1 of their own
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since bitcoin is divisible up to 8 digits, scarcity does not have to be a big deal. 21M bitcoins x 100,000,000 = 2,100 trillion satoshis. there are more than enough satoshis for the world's population to each own around 250,000 satoshis (or around 0.0025 bitcoins per person)
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Simply point out the advantage if they use it and let them learn by themselves by searching through internet. Every explanation can already be seen there and what we can do is to answer their questions if its confusing.

Thats how i did with my sister who is already earning on her own, its a bit hard for her at first but day by day she definitely learn the significance of bitcoins, the uses and opportunity you can get in it.

I teach about bitcoin or digital crytocurrency to people who are new to it.I usually tell them what i knew and how to learn about by giving some points to reasearch,and watch videos with them.

Actually teaching or explaining about bitcoin to others is a good way becuase all of us are start from newbie so if i explain about bitcoin to others i can say to them that "bitcoin is the first cryptocurrency and if you use this or if you invest here in bitcoin you will get a huge of money someday "

When I first learned about bitkoin, I was full of enthusiasm and told all of them in a row about it. But everyone reacted very dejectedly. And besides, it was very difficult to tell about bitkoin to people who are not interested in it. Then I stopped doing this, and began to talk about the crypto currency only to those who really are interested in it. And it was a completely different conversation. People were open to new information, asked, and eventually injected some of the money into bitcoin. Therefore, do not talk about bitcoin all in a row, few people will want to listen to you, and if you find your listener, the speech about bitkoin will flow smoothly and calmly, and you do not even need to think what to say.

There is no right way to explain Bitcoin or crypto to a newcomer. There are many different ways and people learn differently as well so you have to find a way to connect, but every time they'll just have to become more curious as they hear about it more and more.

Just keep it simple or it will confuse them. Don't get into specifics regarding the blockchain technology and such. Just tell them it's online money recorded on a public ledger which anyone can get into with minimal government interference. Tell them how much it's grown since the beginning to catch and keep their interest. The rest, they should probably research on their own.

Simple, teach them about how to get earn more money every month ? I bet a lot of people will learn about bitcoin without us having to teach them. crypto currency and digital currency is just a word that replaces the currency only but the way it works the same

Well for me,the best way of explanation is your experience.Its been proven be me off course.Though they are already using bitcoin I still have to persuade them to have some research about it and I have showed them the perks of having a bitcoin.They seem very interested and now they are already circulating some of their bitcoins to some investing sites.

I beleive explaining bitcoin to new peoploe who have heard of it and they want to try getting in to it should not be that hard considering that they already have seen its price and know what it is, for new people you should always try explaining the basics like where to store them and a few way on how to earn it, you sould never dump all the informations you know to them that way they won't feel overwhelemed and think it is really complecaited when it is not, i know i did when my friend tought me about bitcoin i felt that it was really serious stuff when he started talking about the many ways he is using to earn bitcoin, just giving newcomers the basics just to get them started and to set them on the right track is all you can really do and the rest is just for them to learn on thier own from experience and searching on the internet.

Bitcoin -  The new gold of this era. I will go directly to its value and tell them how much 1BTC will costs. In that way, they will be intrigued about bitcoin and i am quite sure they will start joining here too. Probably one of the effective way of convincing them is to tell them directly the value of bitcoin.

With Bitcoin price growth the number of newcomers is biger and biger each day. And I have the feeling that that many of them don't have patience to learn and listen but are only interested in fast profit. Usually I have to put a lot of effort to explian some basic information and they will learn the best on practical example. But I also recommend a lot of learnig and reading about Bitcoin and other cryptocurrencies before they actually enter the cryptocurrency world. This forum could be also the good point to start.

Me as a bitconer user for almost 3 months reading here in  forum I should say I understand every meaning of crypto currency and digital currency of bitcoin.I also introduce it to my co workers and friends and Im glad they did not reject me about it.Sometimes I watch on youtube to make it fully understand while Im telling them my experience and also the experience of my husband who teach me here in bitcoin.They are inspires and continuing to joined in forum and want to learn more about cryptocurrency.

I can explain and introduce bitcoin to a complete newcomer by first showing them what bitcoin is which includes telling them about bitcoins origins and possible use in the future. I can also give example to them by having myself as a model and user of bitcoin. I can also tell them that bitcoin is a cash less transactions that you don’t need to be near the person or go to a remittance center or bank to receive payments or send payments that they can use their mobile or pc to send money like in games.

No doubt that the circle of the bitcoin is very wide it could be difficult to make all clear in short time but at least we can try it through the most easy way. First of all tell them what bitcoin is actually and then tell them the process of the bitcoin use make the most easy words to use and then explain the bitcointalk so that they will not find it difficult at the beginning step and will show interest in learning bitcoin so then tell them about their income in this forum.

I explained bitcoin to a new comer with a use of visual presentation. I will teach them the basics of bitcoin on why this bitcoin is created, what are the benefits if we use it. Advantage and disadvantages when using it. I will not rush to the point that he can earn with it. It's easy to teach new comers that wants to learn bitcoin because it's they are eager to learn the basics.

Is very easy to teach a new comer to bitcoins and other cryptocurency is all about, first give them a short definition. That bitcoins is a digital currency that does not belongs to any central bank. Bitcoin is I discentralize currency's, and if they still don't understand but are still interest to know then give them a video or a website to visit.

An introduction about Bitcoin to a newcomer might be a tough one to do in one seating, a newcomer at first needs to try all by himself on learning what Bitcoin is as it is already made available in the internet from hundreds of articles to threads in this forum everything can be read by the newbies. The only thing I am willing to help a newbie is when there is a really hard topic that needs some explaining to do in which is not readily available online.