Topic: How to explain BTC to family members？ - page 3. (Read 1138 times)

Tell them know what it all about,show them videos, do research with them,explain to the its not a ponzi scheme because most people believe that what it all about thanks to social media its can also be of help
   Make them know nobody owns its not the government or even an organization.
   Explain to them it a digital currency which is about to take over the world.show them how it works( like a stock exchange market)
   

I always explain the blockchain like it was a phone book of which everyone got the same copy, so when one guy makes a change to some number, all the remaining phone books will still show the correct number, therefore it is fraud proof.

Or he can just show them special videos on youtube. People want to show bitcoin in easiest way to become clear "thing" for everyone on their videos on yt.

Now a days social media is one of the best tool to spread information. Another very useful tool is to let them watch a video or youtube.  After these first step,  they will have more desire to learn deeper, and on this point you can share in the most simplified  language like bitcoiin  is an asset like a gold but not in a digital form which is supported by a high end system. Let them join also groups or blogs regarding btc.

I would explain as "Digital Currency" nd before i explain i may study some latest news about BTC has being accepted in many country, some cases of Buy nd Sell property in bitcoin, P2P Trading etc........

Explain what is blockchain as well, we need to learn more knowledge nd technology for it, nd ready for coming years...
Learn nd study together with my wife nd kids, the blockchain recover whole the planet 1 day!

Cheers

if you want to explin something to them about bitcoin. Be sure that your family has any ideas about crypto so that its easy to discuss and easy to them to understand.

hehehe you can tell him that bitcoin is also dollar. anytime you can convert it with dollar(local fiat/currency),So try to convenience him about the bitcoin as many as ways you know.

Difficult to explain. But I will try to tell you my understanding and u can build on that. In the Pacific island of YAP they used large stones called RAI stones as currency. Now the stones were too heavy to transport so they were kept wherever they were, only the ownership changed and everybody in the village knew who the new owner was. Gold backed currency is like this. The gold is in Fort Knox , the ownership changes whenever you exchange money. But we do not have gold backed currency anymore we have fiat currency, which in reality has no backing except whatever we give it. Now all monetary exchanges are like contracts. I give u this , so u owe me so much. Bitcoin reduces this into a programme. In a sense it is more valuable than fiat currency ,since fiat currency is no longer reated by Central banks, it is created by every bank manager when he gives a loan. The bank manager is not giving  a loan from the money that he has in his bank, he is giving it pretty much out of thin air. Hence why i feel Bit coin will rise in value, its foremost competition coming from other alt coins.
May have confused you. All currency excahnges are contracts. I give u so much you give me this in return I give u work. this work is divided and converted to some form of easily transferrable thingie usually a currency. Bit coin is the internet equivalent That is all.

It's hard to explain. people don't believe it's not a bubble.

 All you need to do is just tell very details on have you earn money in bitcoin that they can understand or have ideas about bitcoin.

I always begin with , do you like using your charge card, its really cool isnt it......

I think this is the way my mum would look like if i told her about bitcoin


https://giphy.com/gifs/shocked-surprise-LJPfWhMCs9Rks 

I think that the best way is  to explain Bitcoin to a new person is to demonstrate the process of a transaction.

hahaha me too. they just dont get it 

Please do not make the worst thing and tell them that it is only a coin which people invest in and you could earn, try to show them more like technology side and power of bitcoin.

Wow, This is a great anwer, helpful for many newbies in this forum not only to explain to their parents but also for us to understand in deep.

Thanks for the valuable comment.

Maybe at the beggining show them some good  videos on youtube cause you could find lots of them where people try to explain what bitcoin exactly is.

Do not compare Bitcoin with fiat money, it will be a mistake. show them this video
https://www.youtube.com/watch?v=TzSV2IN4xag

Defining BTC is definitely possible.

I got into crypto early 2017 and got pretty stuck trying to understand it. After 6-8 weeks of research, I created Decryptionary.com

Decryptionary is the simplest crypto resource. It explains what "bitcoin" is in approximately 100 words. It has visuals. It also has a dictionary with 200+ other entries.

For the guys who want to learn how to buy their first BTC or altcoins, I have super simple and visual walkthroughs.

For the guys who want to figure it out themselves, I have word lists by subject.

It's a growing thing. But I think it will help others.