Topic: How to explain BTC values to co-worker (Read 447 times)
To do this, you need to install a special program on your computer, and the system will automatically earn money. Satoshi first get on the bonus account, after which the user can translate them once a week to his wallet.
When explaining to my co-workers or co-employees about bitcoin I always include its responsibility, since bitcoin is indeed also considered money even if its not physically like cash. People must still be able to properly handle its use. I also remind them that if they improperly used bitcoin to any no good reason they can still be held liable to it. So yeah its always an add on knowledge and lesson when teaching and explaining bitcoins to my office mates.
let him trade it on paper as i did with stock market.
Sometimes I wonder why this simple idea is not practiced more, you do not need any kind of special equipment or anything, grab a pen an paper and begin to make trades that way, it is not very exciting since nothing is at stake but that lets you test your skills, and it allows you to make hundreds of mistakes without losing any money so it is the perfect way to learn.
I would probably explain it based on experience and people who've had success in BTC (and other altcoins for that matter). However, in your case since you said you're fairly new to this crypto currency, it would be best to explain based on what you've learned so far. The good thing here is, you don't have to explain in an effort to get them to believe what you believe in. It will be more of providing information and educating these people that you talk about. Whatever they do to the information that you provide is up to them.
Bitcoin price is determined by the market, when Bitcoin supply in the market is less, Bitcoin price will increase, and vice versa if Bitcoin supply is on the market more, Bitcoin price will be cheaper. why the price of Bitcoin is expensive, it's because the supply of Bitcoin is not much.
well you can start by explaining the blockchain technology first, it`s benefits and the difficulty of hacking. After this phase explaining the value of bitcoin and miners would be easier in my opinion.
Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?
I guess you wanted to say which isn't backed by a corporation or government.
How much money? The value of a single coin doesn't mean anything. It can be $1000 or it can be $10000. When you are putting 100$ in BTC you are putting 100$ in BTC. That's all there is to know. Depending on the current rate you may get 1k satoshi or 10k satoshi or any other number. Once you make them understand it the tone of the discussion will change, but most people find this very hard to grasp.
let him trade it on paper as i did with stock market.
I think all you need to do is explain what Bitcoin does and it's entirely up to your co-worker if he finds value in it.
To explain them is very easy. The first thing you need to mention is its benefits. Do not say harmful things, it will only show that people do not want to participate.Show them what you got after participating in ICO projects on the bitcointalk forums and how profitable it was in the past five months. They need to see the benefits of bitcoin and they will automatically take the time to learn. simple.
How I explained it to friends and co-workers, I used FAB; talked about it what is Bitcoin, its features - what it does and how it works, next is its advantages - its technology and how it is better that the ones that our governments and banks are using currently. And the last but not the least, its benefits - how it will give them great profit, financial freedom and more. Hope this helps.
IMO (& that always worked for me), always start by explaining the underlying technology; i.e. blockchain and how it helps achieve the required decentralization, trust...etc (not only for Crypto Currencies but for all other industries as well)
Then move directly to BTC and how it is the king of the Crypto Currency world that has been there for approximately 10 years now, how it's gaining interest and attention from thousands of folks every day, how it's the base for all ALTs out there and so on....
Then move directly to BTC and how it is the king of the Crypto Currency world that has been there for approximately 10 years now, how it's gaining interest and attention from thousands of folks every day, how it's the base for all ALTs out there and so on....
Once was asked to explain what bitcoin was. Just suggested they watch the "Banking on bitcoin" documentary. I think on the basic level it explains what bitcoin is pretty well.
To explain them is very easy. The first thing you need to mention is its benefits. Do not say harmful things, it will only show that people do not want to participate.Show them what you got after participating in ICO projects on the bitcointalk forums and how profitable it was in the past five months. They need to see the benefits of bitcoin and they will automatically take the time to learn. simple.
I think you meant to say a currency which isn't backed by government or corporation yes?
Not to generalized all, There are already institutions, corporations, businesses, and Government that already accepted cryptocurrencies. Though some (or most) of these countries set prohibitions in doing transactions using cryptos.
Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?
As a senior member of my current work, Some of my subordinates do ask for an advice on how to earn extra income or some sort money related inquiries. Since base from my past experiences in handling such cases, I do first check if they really are interested in what will I discuss with them. I normally start with this "Do you or do you not have any idea about cryptocurrencies, especially Bitcoin?" if they reacted negatively to it then I will not continue, Don't push someone to like what you like. If they reacted positively then, I'll show them first what normally to expect. From then on, I'll explain it the way, my mentor explains it to me with additional thoughts based on what I've already experienced and learned from this industry.
Spoonfeeding would literally my style of teaching like a teacher-student way of explaining. What I've said or taught are just guidelines, It's up to them to generate their own strategies and discover things on their own in this industry.
Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?
The value of a cryptocurrency is defined as the value of any other commodity that can be exchanged. Everything depends on demand and on supply. While the number of people wishing to buy grow more rapidly than rates of mining, the price is growing.
Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?
To explain bitcoin values, I think they have to first cover the beginning of the coverage in the basics of cruptocurrency on what it is and what the value represents. It is important that we don’t over hype the cryptocurrency to people and show then what it really is on a broader soectrum that they can comprehend easily and understand which is better in the long run when they decide to jump in
Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?
Try to use the simplest words and comparisons. If you know blockchain technology pretty well, draw a scheme and show it to your co-worker. You can offer him to watch one of YouTube videos for a newbie, for instance this one:
https://www.youtube.com/watch?v=2X9eJF1nLiY
Whenever i explain btc to others, its not really easy especially to those who have not yet knowledge on bitcoin. But the first thing we should do is teach how to start invest and sharing our knowledge, but if people who are really interested they can easily learn. I think its better also to tell them that they should be a patient to do research always so that it can make help to improve their knowledge abut bitcoin.
It's a challenge every time I'm confronted with a task of explaining bitcoins and
cryptocurrency to a friend, a stranger and even a co-worker. Basically the absence
or lack of interest of the person makes it hard to explain. Introducing the basic
concepts of bitcoin is a good place to start then slowly tackle the benefits and it's
potential components. Social media, youtube and websites are useful and informative
sources that might also be insinuated to speed up the process. Keep the conversation
simple and encourage questions. Be patient, positive and expect nothing.
cryptocurrency to a friend, a stranger and even a co-worker. Basically the absence
or lack of interest of the person makes it hard to explain. Introducing the basic
concepts of bitcoin is a good place to start then slowly tackle the benefits and it's
potential components. Social media, youtube and websites are useful and informative
sources that might also be insinuated to speed up the process. Keep the conversation
simple and encourage questions. Be patient, positive and expect nothing.
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