Topic: How to explain BTC to family members？ (Read 1138 times)

More or less it's like Share Bazaar! I explained them that way.

•No one in between,
•price can rise up or fall down,
•government does not have hands on it,
•people to people based,
•digital currency with different types of tokens,
•if i'm noob i have chance to get scammed,
•no market knowledge can result in loss,
•depends on luck, more or less market and token value,
•can participate in bounties/airdrops without having to invest(had to explain about those)

Some peoples understood , some said scam, some said not good to play with money and some agreed to work with me xD

I tried to explain my family about bitcoin but most of my family members were against me and were saying that it is a type of scam and unregulated thing which can be much illegal and subjected to illegal activity .
But my father was with me but still Indirectly he was looking like that he is indicating that we should keep himself away from bitcoin like things .
But still secretly I worked with bitcoin and proved that everything is fine with bitcoin and nothing is bad , with the earnings of bitcoin we can pay tax with legal way to use .

My grandpa is hooked.
Old dude still want to make some money.

When I told my mom about bitcoin, she was very interested. Now when she hears news about cryptocurrency she always tells me.

I know it is hard to explain the concept of cryptocurrency and Bitcoin to your family. Tell them that it is an investment. An investment which gives you result on the basis of supply and demand. Also tell them the worth of a single Bitcoin.

just like some have said here, the best practice for me is through youtube. Im not so good at explaining, so i use a set of videos i have on youtube and all that.

not posting the link though

you tell him yes, just like dollar, only that its not tangible like dollar, but can be converted into dollar and is of a higher value, BTC can be difficult to expalin to the older generation, so go for the simplest possible explanation

Of course, they will have more questions. So where are these bitcoins? BTC” your Dad might ask , “Do you have any in your pocket?”
“No, bitcoins are like the money you have in the bank and credit cards. Or, better yet, you know how your boss pays you through direct deposit and then you go buy something with a debit card.

The money goes from one place to the next without ever touching human hands.

 It just seems different than regular money, but actually one of the ways it's similar.

At first I explained that bitcoin is like gold, but in digital form and is currently very popular beyond the artist. therefore the fluctuation is very high. then I explain how bitcoin and how to take advantage of opportunities and risks.

No need to explain to my family because Bitcoin is introduced fist to my family. They just saw why my life change and they are interested how to join in bitcoin. Because once bitcoin is expose to one place this will be easily adopt because you can see the evidence that there's something new happend in your life. Even in friends they if just they just see the proof that your life change they will beleive on you.

it is really hard to explain especially to older one's that did not grow to computer technology, but my explanation always is BTC is a electronic money it's intangible but it is very valuable   

just tell them only %3 of countries money is holdable. the others are also virtual. generally they want to see, touch, smell the money

Well we don't need to get old people involved, it's not necessary. If it's comfortable for them, let them use fiats instead.

Old people are mostly deaf with the talks in relation to digital stuff nowadays. However, make things simple and on how they can make dollars out if it will be the way.

i dont know how to explain it to my family, till now, i'm still keeping this as secret. if i tell them, they will not acceptable for this cryptocurrency, because depend in my religious, they consider it is kinds of gambling, it makes me decide to hide that i involve in cryptocurrency.

I haven't even told my family yet and don't really plan on it anytime soon, if i told them everybody in my family would be jumping on me

I think the best way to explain BTC to the family is through actual explaination.Other than that, they can hardly understand.

Well, the best way to introduce something new and complicated like bitcoin is with a power point and a good speach

I had a hard time explaining what btc is in my family during thse time they are curious how I am making money just by staying in front of my computer. Funny that they even thought Im doing something illegal so what I did is just I tell them btc is like an asset which is existing only in virtual world with value convertible to fiat and that's it. Explaining how Im earning then thats another story.

my mother still doesn't accept that it is real money and it is accepted worldwide, everytime sth about crypto comes to news, she calls me and tell me to check news and she warns me to be careful about that 

I remember telling this to my sister and she was like, is that illegal? The authorities might still detect your presence right?

this is like a coin but in the digital world. Maybe that will give them a perspective. I guess. Really difficult

Tell them it's like a virtual money..or is it? Can't think of any way how to simplify it without telling it's the same with any fiat.meh

Ohh you mean scam? multi level marketing? Why are they making one? Don't they like the currency now? I imagine the questions running thru every one of my family members mind if I explain this to them

Explain your family how Bitcoin produced and the benefit of it in transferring money from anyone to anyone everywhere with low fee and fast. And even more if you own Bitcoin you can trade it by the difference on price through pairs on crypto exchanges.

  it would be hard. It's like your teaching a calculus to a grade 2 student. Try explaining to them what are the benefits of investing in bitcoins first. In that way, they will be more interested and will listen to every detail you say about bitcoin.

Tell them that Bitcoin is a logical evolution stage for a financial system.
Tell them to do some research for themselves and watch youtube videos

Don't . No, I'm kidding. But do imagine you're trying to explain it to you grandparents. There's an adage from Einstein:

“You do not really understand something unless you can explain it to your grandmother.”
― Albert Einstein

Try to explain the idea, not technology. The vision, not the price that everyone is talking about right now. And if they ask you for buying or trading recommendation, never guarantee anything, make sure they understand the risk and do everything on their own responsibility.

This could help a person asking for bitcoin. I just simply said it is a digital currency that price may increase and decrease. Also, I let them watch videos and read in the social media about bitcoin.

Agree. Youtube videos about Bitcoins is the best way to explain. You may also read some information's about Bitcoins in this forum itself to gather some knowledge and share with your family.

Don't do it... I did.. I fault!

Cause she is right, you have to be clever with it and patient cause you could lose almost everything and after that invest in the best  thrash coin ever, crypto could broke you like hazard!

You can make him watch a couple of videos on Youtube about Bitcoin

Explaining bitcoin to a family member will depend also on who you will introduce bitcoin. Approach will be different also,  is it to a young family member or one that is internet user and gadget addict who can easily grasp or to an oldies who reached senior citizen age without any gadget.  However,  bitcoin can easily be catch up because theres so much news and answers that can be found here,  we can google always.

Some people find it hard to explain how Bitcoin works. For example, they ask: What if the computer breaks down? Money will disappear? Tell them as easily as possible. Show them the video, explain how the blockchain works.

Bitcoin is the first block-chain currency and it's the most successful and very well known proponent - which is why it has become more-or-less synonymous with the technology. Bitcoin has become the poster-coin of blockchain technology

If your family is aware for all the high changing technology of society, probably it is easy for you to explain it to them. Bitcoin is a digital currency that currently trends on crypto community. It values a lot, show them proof on how to earn money using bitcoin i'm sure they will believe you and surely get interested in this field.

My son told me about bitcoin, and I'm trying to understand what bitcoin is, I came here and need help from everyone

I tried to do it but the family was not supportive, which my mother told me is to be careful with bitcoin, I could lose money from it

There is this Medium post I read last year and it's quite awesome and really explanatory: https://medium.freecodecamp.org/explain-bitcoin-like-im-five-73b4257ac833
Also all of this would be quite easy actually if you have some backup in the family (like a brother or a father who is at least a little bit tech-ready)

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.

I think it's impossible. A lot of things should be explained to have some basic understanding of it. Simply put I say that this is a decentralized currency that exists on the Internet. No one controls it, it has fixed amount, and it's issued by computers that solve difficult mathematical algorithms. That's the easiest definition I came up with. But it's very superficial

I like this video also, blockchain researcher Bettina Warburg explains in 5 different people a child, a teen, a college student, a grad student, and an expert.
It can help explaining first what a blockchain is.

https://www.youtube.com/watch?v=hYip_Vuv8J0&t=2s

Hope it helps.

The good thing was that  my family friends itself introduced to me about this btc which has helped my family to understand in a better way and it has become easy and convincing for them was less hectic. Else it would have being a tedious work and now I am started to invest some in this cypto currencies for the future in mind.

I just explain to them that it is an internet money without physical form and you can trade with it like stocks. My family is not really into technology because we are from the province where internet connection is poor and the people living there have simple life. I am living now in the city and has good internet connection that's why I can easily access the sites but it is hard to explain to my family in detail because they are not interested in it. They just told me that as long as it is not scam then it's a good way of earning money.

I have given up on explaining to the family and have not yet started to explain BTC some of them are having trouble understanding the internet. Let alone I would have to explain the Blockchain of all thing to them

At present in China, has been a lot of people can use electronic wallet and mobile phone paid, I think my family will be easier to accept this new currency, first of all, I learned to explain to my family is good.

start to explain with proof for more manifestation, because it is difficult to prove to our family how its really works with out proof. so before you explain it onto your family, study a lot more things first all about bitcoin, then after you learned a lot of things about bitcoin you can explain it clearly into each member of your family to fully understand what bitcoin is.

Thank you very much for your answer, it is very useful to me, I recently also troubles how to introduce BTC to my family, I think I know how to do it, thank you!

I hope you have better success than I did. It’s now come to a point when I bring the coin up in front of family they all rolled her eyes and looked back down at their phones ha ha. It’s only a matter of Time before they’ll see it on the news then start questioning what it really is

When he understands that this is a conventional electronic currency and not as a dollar he will develop. because they can not attract electronic money, only those that are in the hands and which you can pay off at once.

I will explain in an easy-to-understand manner and this is what I want to do if I want to explain btc to family members.

In a nutshell, Cryptocurrency is considered by most to be property, more then money.

It is obtained either by purchasing it outright with money just like you would buy any other kind of property, or it can be obtained by "work" your computer(s) perform.  Much in the same way humans have jobs that they "work" at to earn money, the computers have calculations that they perform (called mining) to earn the cryptocurrency.  The harder and faster the computer works, the more crypto it will earn(mine).

Crypto is converted to "real" money by the owner listing it on a website and selling it for a price (much like property).

As time goes on, more computers mine it, more people own it, the value goes up.  That is where the speculation comes into play, just like in stocks.  There are multiple cryptos out there and the speculation is which one will advance it's value sooner or higher then the next.

It's really hard to explain but depends how much open mind they are, You can just say it's a currancy that can change the world we know and right after you can show the value graph from early stage to almost 20k value. After that they will be interest and you can talk about details.

Tell them to make $100 will cost the gouvernement $0,06 with no restrictions to full throttle.

To make a bitcoin will cost round $3000, with limits.

No tempering by goverment, no inflation, 100% secure due to largest CPU power in the world, a revolution!

In my opinion, cryptocurrency is too technical for a lot of people. I have started talking about it to some people and there eyes glaze over or they show that they are not interested or there attention span isn't that great so after a sentence or two there not really listening. I was able to explain it to one person over dinner and they seemed interested in hearing about it, but showed no interest in wanting to get involved or to learn more.  In some ways, I almost feel like I shouldn't talk about it, at least not investing discussions.  I think you can talk about blockchain in general and the future possibilities and that could be an interesting subject in itself without getting into BTC.   Investing in it is risky and some people just kind of give you that "What are you getting yourself into" looks.  I don't know if others experience these kinds of reactions.

Contrary to what others are saying, i think you should respond "Yes! Just like the dollar, but better!"

Better because:

• There is no single person, entity or government that reigns control over the currency
• Money supply cannot be inflated, therefore the value of the currency is retained over time, not eroded; E.g., is cheaper today to manufacture a car (with globalization and mass manufacturing and such), why are cars more expensive today than 20 or 50 years ago? Because the spending power of our fiat currency has gone down
• The transaction network (blockchain) is decentralized around the globe, meaning that no country or single attack can bring it down
• Bitcoin is still trying to figure out what it is, it's a currency, but it's also being used as an asset; Ultimately the market will determine what Bitcoin's best use is...but one thing is for sure, it's here to stay!

Let us know how it goes!

Here is a good video that explains everything

https://www.youtube.com/watch?v=Vzjtvt77mgc&t=96s


And here is a funny but good article on how to hold a conversation about bitcoin
https://cointelegraph.com/news/can-you-hold-a-crypto-conversation

Good luck!

Now replace "Bitcoin" with "cryptocurrencies" and you'll be explaining the future

I explained in a way that he would not ignore what I was saying by choosing the right time and explaining them properly so that they could easily understand it.

Thank you. I think my family will be interested in BTC after watching video

In one sense it is like the dollar; in another it's like gold.

It is like the dollar but there isn't a central reserve bank nor is there a government deciding policy; nor are there banks deciding the validity of transactions. "So how does it work?"

There is a ledger of transactions - a public ledger of all transactions that have ever taken place. Groups of transactions are added to this ledger every 10 minutes.

Math (cryptography) keeps the process safe.

If they're interested in how transactions are added to blocks; how blocks are considered to be valid - well now you're into technical discussions. If you don't have a grasp you can watch youtube videos with your family or side step it by asking how a US dollar is created: how is the paper chosen, the ink added, etc...

If you want to explain something u must have elementary knowledge about it.
Then you can create short version to explain it. For example Bitcoin is store of value like gold. Just easier to move and keep.

The best way I know to explain Bitcoin to a new person is to demonstrate the process of a transaction. The links quoted by TryNinja would help your family members to learn about it and when they will read and watch the theoretical part, help them to create a free web wallet and send few satoshis to them and ask them to return on your address. Trying their hands on it with flexible methods like web wallet platforms will attract them towards Bitcoin and to they will start learning about it further. Please do not lie about anything.

Make them watch these videos:

The one video every beginner without any technical knowledge MUST watch: https://www.youtube.com/watch?v=Gc2en3nHxA4 and https://www.youtube.com/watch?v=s4g1XFU8Gto
Then, if you want a more technical video: https://www.youtube.com/watch?v=t5JGQXCTe3c

And if they have the time (the video is 37 min long) and are really interested in learning about Bitcoin, this is one of the best "introduction to Bitcoin" videos I have ever seen (made by aantonop): https://www.youtube.com/watch?v=l1si5ZWLgy0

Tell them it's not like dollar, there's no owner, no company, and the network is made up of millions of people. The network is currently 300 times more powerful than the top 500 most powerful supercomputers in the world combined.
Tell them that Bitcoin is not a stock, it's simply an alternative to a 100-year-old obsolete financial system.
Tell them that Bitcoin is a logical evolution stage for a financial system.
Tell them to do some research for themselves and watch youtube videos

I explained to my family that BTC is a currency, and my father said, "just like the dollar?"