Topic: Points to be sure to cover when teaching someone about BTC (Read 564 times)
Always use escrow when unsure about BTC transactions as once the transaction is complete
In your opinion what do you think some of the most important things are that should be brought up when teaching someone about BTC?
Learn 'em about "real" money first, like how the intrinsic value of a piece of paper saying $20 is virtually zero, and even 99% of that is just numbers in a computer somewhere....
I think the most important things are:
1. Bitcoin isn't just a criminals' anonymous currency, it has more legitimate use than dodgy but of course has some bad uses like ANY currency.
2. Bitcoin value is temperemental and based on the confidence of users in it.
3. Bitcoin is not backed or run by any government and there is no federal reserve of money for bitcoins.
4. One should always take into account power costs and increasing difficulty as well as hash rate when choosing mining equipment and whether it is worth mining or not.
5. Always use escrow when unsure about BTC transactions as once the transaction is complete and if you have been scammed, it is hard or impossible to track down somebody by their bitcoin address to pursue justice.
1. Bitcoin isn't just a criminals' anonymous currency, it has more legitimate use than dodgy but of course has some bad uses like ANY currency.
2. Bitcoin value is temperemental and based on the confidence of users in it.
3. Bitcoin is not backed or run by any government and there is no federal reserve of money for bitcoins.
4. One should always take into account power costs and increasing difficulty as well as hash rate when choosing mining equipment and whether it is worth mining or not.
5. Always use escrow when unsure about BTC transactions as once the transaction is complete and if you have been scammed, it is hard or impossible to track down somebody by their bitcoin address to pursue justice.
Show how a wallet works, where to buy Bitcoins easily, and a place where they can spend it. Then tell them just to try it. If they like it, they dig into it.
In your opinion what do you think some of the most important things are that should be brought up when teaching someone about BTC?
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