Topic: Next Thursday I will have 20 minutes to present bitcoin to 150 businessmen/women - page 4. (Read 5006 times)

I would leave the thing on Iran out of it, since it's not true: http://bitcoinmagazine.com/common-misconceptions-about-bitcoin-a-guide-for-journalists/

I find the best way to introduce it to new businesses is as a new payment network.

The Bitcoin network is one that provides secure transactions anywhere in the world with (virtually) no chargeback risk. It is revolutionary because it allows anyone to create an application, wallet or tool within the network. That will in turn work with anything else in the Bitcoin network without any restriction. It uses digital tokens called Bitcoins which can't be counterfeited and get their value from their scarcity.

Another big advantage is the built in identity protection. When you are making payments through traditional payment networks the act of making payment exposes you to the risk of fraud. If I was to display my credit card number it would most certainly be compromised and my identity could be stolen. Bitcoin addresses are secured with banking level security (don't bother explaining SHA-256 unless they ask) so they can be displayed with zero risk of being compromised.

Why should they care about some digital token payment network they might wonder? The best part is they don't have to because companies such as WalletBit provide seamless integration into their business. We for example provide automatic risk free conversion to local currency for as low as 2.75%. It doesn't cost them anything to get started and they don't need any special equipment (think credit card machines, etc).

That is at least the general approach I take.

Thank you!  I will definitely consult this.

Lat year Tony Gallipi gave a great presentation on the business case for Bitcoin usage.  I'd steal from his talk as appropriate...

Expanding the Bitcoin Business Community
http://www.youtube.com/watch?v=hH4rH6wu25U

Ok all, if you could please comment on how this short "Bio" can be improved or altered please let me know!  I really want to present bitcoin as a credible, viable tool for small business owners and persons.  I need to send it to the printer today.  As a reminder, this is what will appear in our weekly newsletter that is placed at each person's seat before lunch.

Mark Russell is a hobbyist trader in the emerging, web currency called Bitcoin.  Mark has been involved and active with the Bitcoin markets since early 2011.  He believes Bitcoin will be the most disruptive technology his generation will see in the area of digital commerce.  

Bitcoin is a non-political, online, digital currency that is brought into existence at a fixed and predictable rate.  A limited number of them will be issued and then no more.  This means that unlike traditional currencies which are created by central banks and governments, the value of Bitcoin cannot be destroyed by inflation, nor can it be physically confiscated.  There is no entity or group of persons which have rights or title to Bitcoin; there is not a Bitcoin building nor is there a Bitcoin corporation.  Bitcoins are secured by advanced mathematical algorithms that prevent counterfeiting.  

These features mean that any business can accept payment from a customer across the globe at a zero cost without having to rely on a 3rd party payment processor.  In November of 2012, Bitcoin made headlines across the web after the world’s 20th largest website, Wordpress, began to receive Bitcoins as payment.  Several months ago Iranians began to flock to Bitcoin as the value of their currency went into total free fall.  

Bitcoins may be used to purchase anything from flat screen televisions, to music, to webhosting, or pizza.  Any person with a smartphone or computer can send and receive Bitcoin without needing to trust a 3rd party such as a bank or credit card company.  In this sense, Bitcoin is purely democratic.  This “spread out” of “decentralized” nature of Bitcoin makes it indestructible by governments or Federal banking intervention.  

In Las Vegas already, there are auto mechanics, realtors, handy men, hospitality services, and other successful business that accept Bitcoin.  Companies such as these have the option to use local exchangers or online services to convert their Bitcoin to USD.  As Bitcoin continues to be adopted, it will be seen as a currency in its own right against which all other currencies will measure their value.  At the time of this writing, 1 Bitcoin is equal to appx 23 US Dollars.  To learn more about Bitcoin or to start receiving and sending them, visit blockchain.info or coinbase.com

it's a good one, but it falls short in terms of mining. you need to be a large company, possibly bribe a 3rd world country to get a stake in their ground, ........ and last but not least, there are also just paper-certificates "guaranteeing" you some gold in a vault. it also doesn't cover the robustness and security of the network itself (because it's not necessary for gold).

it's just "similar" in some regards, but don't say "it's a digital form of gold. period."

Also, it wouldn't hurt to mention that Bitcoin gained 100% the last couple of months. I'm sure there are some greedy bastards in there who can't wait to get their hands on some coins. And it would show confidence over the stability of the whole project is rising rapidly.

THIS.

i also disagree that its hard to explain decentralization.  i usually start by giving the example of how Netscape's doors got kicked in and servers seized.  then i explain how geeks developed Bittorrent and how hundreds of thousands of laptops all over the world have replaced the servers b/c average ppl are essentially expressing their vote as to how they wish to behave.  

it doesn't matter if you're one of the 0.02% elite; you can't forcibly change the minds of the other 99.98% when they're free to communicate over the Internet and you don't have the manpower to do so.

If you could explain to the merchants how can bitcoin be converted to USD?

And how difficult or easy that would be to them.

Now if merchants and suppliers where to accept bitcoin that would be

a game changer 

Decentralized as in gold. No goverment issues gold, it's just there. Governments can mine and regulate it, but they don't issue it.

Can someone find a better analogy?

I will be posting my writeup for the bulletin that is distributed to everyone's seat shortly....  I'd love everyone's advice on it.

if you use the word "decentralized", expect that nobody understands it. even if you explain it in a few sentences and tell them, that this means it cannot be shut down, they will not understand you. trust me ... the concept behind this word is way out of reach for these folks. good look finding a good analogy!

It's hard to overstate the significance of Bitcoin. You could begin with saying that for the first time in history, a global currency has been invented which can cross all borders worldwide, makes payment as easy and cheap as sending an email, yet isn't controlled by a single government or institution. Although the concept of completely digital cash is a few decades old right now, the invention of the blockchain solves practically all problems earlier forms of e-cash faced.
 
This opens a few doors. Transferring money over large distances at low costs can be a huge catalyst for future economic growth. Global payments online suddenly become much easier. People no longer have to trust a central bank not to print too much money or the government not to seize their assets.

For businesses right now it's easy and cheap to use Bitcoin. If they're afraid to lose on exchange rates, they can instantly convert them to USD or whatever currency they prefer. Accepting bitcoins is completely legal, as long as they're honest on their tax reports on them.

Great stuff, thank you for this!

just don't do an Amir Taaki.

I would emphasize the ability to safely accept payments from customers anywhere in the world without the requirement to deal with PayPal.