How will you explain bitcoin to someone who is just hearing this word for the first time.
Or someone who has heard about it but still don't understand how it works.
Can you explain bitcoin in the most Simple way?
Or someone who has heard about it but still don't understand how it works.
Can you explain bitcoin in the most Simple way?
"Bitcoin is a technology that allows you to globally send money on the internet without the needs for banks or other middle-men."
Or is that too shallow a description?
That's a lot like the version I tell them too! I actually just say it's just like a currency, it's digital and it doesn't need you to trust a bank or service to make sure you can send and receive it. Let's face it: this is how most of us first learnt about Bitcoin... the trustless, decentralised P2P nature came in next and that got us hooked.
It's way too early to show people technically complex videos and guides. I recall that experiment in 2014 when MIT students were given Bitcoin. More than half immediately converted it to cash, and only a handful of the rest went on to learn and understand Bitcoin properly. It's not as easily understood by the majority of people.
