Random guy asks you about this internet money BITCOIN

Sir Alpha_goy

sr. member

Activity: 448

Merit: 250

Quote from: Tyrantt on December 05, 2016, 05:45:31 PM

"It's a decentralized digital currency where people are "mining it, creating it. It's also used for variety of needs."

or maybe

"google it".

Federal Reserve System defined:

http://www.investopedia.com/terms/f/federalreservesystem.asp?lgl=no-infinite

Quote

The Federal Reserve System (FRS) is the central bank of the United States. The Fed, as it is commonly known, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, DC, the Board of Governors and 12 regional Federal Reserve Banks in major cities throughout the United States.

You see how the definition left out all the scandal?

Tyrantt

hero member

Activity: 1022

Merit: 564

Need some spare btc for a new PC

"It's a decentralized digital currency where people are "mining it, creating it. It's also used for variety of needs."

or maybe

"google it".

Sir Alpha_goy

sr. member

Activity: 448

Merit: 250

Quote from: TreeOfDeath on December 05, 2016, 04:10:08 PM

its nice question- my younger brother asked me about bitcoin, that what is bitcoin
then i told him that bitcoin is not a country currency but its an currency which is only digital and only available on internet.

and if a guy wants more knowledge about bitcoin then i will straite say him/her that check on google.

Like a WORLD currency?

I heard that fails.

TreeOfDeath

newbie

Activity: 40

Merit: 0

its nice question- my younger brother asked me about bitcoin, that what is bitcoin
then i told him that bitcoin is not a country currency but its an currency which is only digital and only available on internet.

and if a guy wants more knowledge about bitcoin then i will straite say him/her that check on google.

Sir Alpha_goy

sr. member

Activity: 448

Merit: 250

Bitcoin is a centralized currency that is heavily mined by Chinese mining farms and also price manipulated by Chinese exchanges.

The American creators made most of their money and moved on after 2013 price spike.

They let China hold their bag because they knew that the sheer volume of the Chinese population would keep Bitcoin afloat.

The Altcoin market is like trading penny stocks.

The Altcoin market is controlled by all the American creators that took Bitcoin profit in 2013.

They run most of the successful altcoin trading exchanges.

They also help to inflate the Bitcoin market price by allowing worthless altcoins to pump and dump on their exchanges without prejudice.

Mining Bitcoin = unprofitable for the little guy

Day trading BItcoin = unprofitable for the little guy

Also, if you live in the US prepare to pay the IRS as they recently just ordered Coinbase to hand over user account records for tax purposes.

Hope this helps.

Junko

legendary

Activity: 1512

Merit: 1000

1. Bitcoin is digital currency with a predetermined fixed maximum amount of bitcoin that will ever be in existence.

2. Bitcoin is decentralized, meaning that no government or central authority directly controls the price/value of bitcoin or the means by which bitcoins come into existence.

3. With a Bitcoin wallet, you become your own bank and can transact business directly with others around the world who have bitcoin wallets and with minuscule transaction fees.

Cereberus

legendary

Activity: 910

Merit: 1000

1. I will point it to bitcoin.org as a start and tell him to read everything about bitcoin in that website, this will give him a few basics.

2. I will talk about wallets, I will talk real fast, will tell him that the best wallets are hardware ones, he can spend a few bucks to buy one. This will inevitably tell him a few other basics of how bitcoin works , the user manual of the wallet will tell him how to set it up, what is a seed etc. He will have a basic explanation here of the seed and it's function.

3. Read a lot on google about bitcoin, watch youtube videos and in the end I will redirect him here in bitcointalk.org and tell him to ask a few questions he may have in the beginning cause people are really helpful and passionate about bitcoin in here.

mrkevio

full member

Activity: 210

Merit: 100

You are anonymous. This is probably the best feature before how easy it is to send and receive money. Being anonymous matters a lot no matter you're a criminal or an innocent. Everybody hates the governments and this is one way to stay away from them. Another great feature is how easy and fast you can earn money with Bitcoin, and this forum is the best example for this feature.

asuryan180

hero member

Activity: 868

Merit: 1000

I show him the whole concept around BTC,give him a presentation about it's idea and the whole reason behind it.Also I open a BTC wallet and send some BTC to it and show him how to send and receive BTC,the BTC address and the mining concept also.Then I show him a mining rig and how to secure his wallet so that his BTC is safe.After that I explain to him what a hashcode is.

staff_1307

full member

Activity: 232

Merit: 100

I just tell him what a wonderful kind of earning money.

aomakun

sr. member

Activity: 1020

Merit: 253

JangaCams.com

maybe you have to say adalan Bitcoin is a virtual currency . By bitcoin you can buy everything .. and maybe he will be interested and find out for yourself deeper into what it bitcoin hahahahaha Grin

qiwoman2

legendary

Activity: 2114

Merit: 1023

Oikos.cash | Decentralized Finance on Tron

I would say the following:
Bitcoin is very cheap to send form person to person, otherwise known as low transaction fees.
Bitcoin can be a store of wealth a bit like gold and silver but easier to carry around.
Bitcoin is not created by some government or printing press and it has a limited supply.
I think for now that might peak their interest.

Kotone

hero member

Activity: 1372

Merit: 503

Quote from: Senor.Bla on July 24, 2016, 03:59:29 AM

Some dude at the bus station wants to know what bitcoin is.
you don't have much time and he won't be able to take in to much information.
a simple look it up online won't do, because that's not interesting enough to read a lot of boring stuff online.

What are 2-3 short(!) key features of bitcoin, which i could tell him, so that he has a basic understanding what it is? And of course so he will be interested to learn more about it.

*Bitcoin is Anonymous, meaning you didn't know whos sending/accepting bitcoin, you didn't know his/her address.
*Bitcoin is a Lightweight, you can withdraw at any time, you can also send anytime.
*Bitcoin is Growing, people are now accepting Bitcoin in their lives as well as their businesses.
*Bitcoin is intangible, you can't be robbed at certain places and also you don't need some cards to withdraw. Just your own account.

Strongkored

legendary

Activity: 2814

Merit: 1112

Leading Crypto Sports Betting & Casino Platform

Quote from: KonceptCars on July 24, 2016, 09:21:41 PM

You should have opened with, "How would you like to be your own bank?"

I think if we use bitcoin, we did not become a bank because bitcoin just like other currencies. Better read this article.

Bank is a financial institution licensed to receive deposits and make loans. Banks may also provide financial services, such as wealth management, currency exchange and safe deposit boxes. There are two types of banks: commercial/retail banks and investment banks. In most countries, banks are regulated by the national government or central bank. http://www.investopedia.com/terms/b/bank.asp

KonceptCars

newbie

Activity: 32

Merit: 0

You should have opened with, "How would you like to be your own bank?"

Raja_MBZ

legendary

Activity: 1862

Merit: 1505

1. An asset of earth like Gold.
2. Digital currency that has made the banks and money transfer systems (such as WU/Moneygram) afraid.
3. Search bitcoin on Google.

angaper

hero member

Activity: 966

Merit: 507

If you are really interested in teach others about bitcoin, perhaps you should be more committed to learn firstly about this ecosystem with seriousness, and fortunately there are lots and lots of available information on the Internet. This personal research could be also useful for you to increase the quality of your posts here because you can't depend all the time on the support of others to understand this altcoin ecosystem.

CoinBreader

hero member

Activity: 672

Merit: 500

i will say him 4 points of bitcoin
1)explain the digital money & how to convert from btc to fiat or likewise
2)trade swings 24/7
3)what was the price last year and where it is now , so buy some bitcoin and forget about them for X years,
4)watch Bitcoin the movie! Cool

CroSany

full member

Activity: 196

Merit: 100

I would be very happy if somebody ask me about bitcoin because then more refferal commission will come for me and nore rich pupils in my country better for country but is it poor that only 1% online payments in my country are with bitcoin ,too small % pff.

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: Senor.Bla on July 24, 2016, 03:59:29 AM

Some dude at the bus station wants to know what bitcoin is.
you don't have much time and he won't be able to take in to much information.
a simple look it up online won't do, because that's not interesting enough to read a lot of boring stuff online.

What are 2-3 short(!) key features of bitcoin, which i could tell him, so that he has a basic understanding what it is? And of course so he will be interested to learn more about it.

I think you just need to prepare a "name card" for promoting bitcoin- which includes the features of bitcoin and the person can read over again. Include some small amount like 1mBTC and tell the person that it worth $0.50! You might want to check the address again in future to see how long it takes for the 1mBTC to be claimed.

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