Topic: [REDACTED] - page 3. (Read 618 times)

There is no easiest way to explain Bitcoin to any person other than telling the truth and the importance of Bitcoin. They'll never appreciate the value and role of Bitcoin to them if they won't clearly understand it that is why we shouldn't hurry to teach them but rather do it step by step until we reach the goal. Because Bitcoin is not just a few words or a simple discussion but indeed, it was a long discussion which means that it takes time for the listeners to catch up. especially when we are mentioning some technical terms.

The easiest term would be 'internet money' and there's a deeper explanation if they want to proceed from that term you'll tell them.
As much as possible I avoid explaining with jargon words because most of the people in my circle aren't really technical in-depth with technologies, crypto, and blockchain. The easiest terms I use like online money, investment, and asset but when it comes to investment, they're becoming scared of them because many of them became a victim of online investment scams. But from there, I always get to explain that bitcoin is different from those that they've encountered.

It's easier to recommend goggling it because that way, they could understand more about Bitcoin quickly, depends on their level of intellect. Explaining it in person is difficult since you're only explaining the basics, in the internet, they could see some interpretation clearly so they can catch up easily about what Bitcoin really is.

The hard thing is that no matter what explaining you do, if they don't really want to understand it, you'll just waste your time.

I was once like this at one point, I literally thought that only those wealthy people could invest in Bitcoin, that you have to have amassed a certain amount of wealth before you can invest in Bitcoin and be successful but all changed after been introduced to bitcointalk and finally discovered what Bitcoin truly is.

It will be a little bit difficult for me to explain Bitcoin to an ordinary person without them having any knowledge of crypto or whatsoever, the best solution for me is to recommend bitcointalk to them that way they can have assess to has much information as they could possibly need. Me explaining to them will only limit them because of the limited knowledge I have but being here on bitcointalk will expose them to so many things aside from Bitcoin itself.

Maybe an easy way to explain bitcoin to new people is to say it is a high-risk investment, so they should think about the risks before deciding to join it.
Don't forget to mention that bitcoin has fast price movements. No one knows where the price will move.
But they can predict the direction of price movement by learning to analyze the market so they can buy when the price decreases.
But it's not easy to teach someone about bitcoin because many people still don't easily believe or don't want to know something they've never heard of before.

People are mostly listening to others mostly regarding the hype which they usually jump on and not conducting their own research this is the time if got unlucky lose their funds. Mostly if they heard testimony that they've earn profit they will then think that they can earn the same which is not true as we do have our own strategy as well as time when we bought it Always end the conversation to someone about the risk and you need to learn more as it is just a tip of the iceberg you explained to them

And who said to have full Bitcoin with you is necessary? Many here including me also don't have full bitcoin at this time but we can buy the lowest fraction say worth $10 also just keeping tx fees in mind that should be covered.This is best part for it like you can buy satoshis smallest unit of btc also and no need to spend $20k to own full.So this is misconception among many but they need to clear all these doubts out of their minds.

The younger generations aren't interested in the forum culture like us older farts, so this and all other forums have no significance to them. But if they get into some problems, they might stumble upon a forum thread that offers solutions and help. Some create an account to ask for help, but very few remain after that.

I wouldn't call Electrum or Ledger key tools at all. They have their pros and cons and I use both of them, but they are not a necessity by any means. If you run a full node, you don't need Electrum. If you have a Trezor, another hardware wallet, or an airgapped system, then you don't need Ledger.

As far as I understand, the chances of someone getting rich with Bitcoins are extremely slim. In other words, One couldn't hope to reap great fortune with it. However, you should try to earn a good income if you invest in it. In short, buy when the price is low and sell when it rises over time. Statistics show this has been the case so far.

Trying to understand how much 1 BTC is worth can be frustrating at first, especially when its value changes significantly on a daily basis. But once you emotionally detach from price fluctuations and start thinking in more abstract terms, it becomes easier to understand.

I haven't had many opportunities to explain bitcoin to someone new to bitcoin. Due to the fact that I actually asked more of my friends who were first familiar with bitcoin.
But I think explaining to the younger generation will certainly be very easy. especially if he is already familiar with the internet and knows a lot about the digital world or some kind of digital payment. but the real difficulty is explaining it to people who are completely unfamiliar with and seldom use the Internet. like people who live in the interior of an area.

Maybe making up an analogy with something they know is a better way. followed by introducing in advance about the internet. how to use it and about the many things that can be done on the internet. and then we can enter the financial system and payments on the internet. well then we begin to introduce the term bitcoin. Give examples and direct practice so that they quickly understand. and slowly we proceed step by step to a more advanced level. like about decentralized systems and other things. including the difference between POW and POS. and it is also important for us to tell them the clear differences between bitcoin and altcoins. and also about the risks and opportunities behind it. and many more to the next stage.

That could work too as people nowadays have become smarter since everything they want to learn are already laid out on the internet, its just a matter of due diligence so they can find the valuable information they are looking. And when they have queries, then we can assist them and lead them to the right answer. But most of all, let them develop first the virtue of patience and hardwork as they can can still never survive investing in bitcoin if they only have knowledge alone without good virtues that are keys to success too.

Well, that could be easier for them to learn as you are teaching them based on their line of interest. However for me, i would still teach them the basics first by giving them insights on what is bitcoin and its purpose and function. Then they can make additional research about it if they want to increase more their knowledge in bitcoin. But if they would ask me on how to be profitable with bitcoin, i'll just advise them to to know and understand what they are doing. Maybe that would create a hint for them.

If you do have time to allocate if ever someone do ask out about bitcoin then you could really sit up beside him and explain it all the possible way but just like the rest been saying that it is really that
suggestible that you should explain about the basics or something that would really be that easy to understand because not all are really that good or knowledgeable when it comes to tech
or any related things which would cause for them to lost track if ever you do make out some explanation.To make things worth or time to be that well spent
then assure up on something basing up on what he know about things specially on internet.

I strongly agree on this. People should not be taught first about how to invest in bitcoin especially if they have no knowledge about bitcoin. They should go with the basics first and that unlike fiat, with bitcoin they can be their own bank without the existence of a third party. And then teach them the purpose of bitcoin and how it should be deal with. Otherwise, if you teach a regular person about bitcoin investment, he will surely go for it without enough information and knowledge about bitcoin.

I, for one, start by explaining that it's a new form of money, based on pure Math, with no central authority and no need to trust anybody anymore. Then I continue with a comparison between fiat money and BTC, emphasizing how, while in case of fiat you have to trust banks and governs, in BTC's case you don't have to rely on anybody anymore. I continue by saying that, while fiat can be printed over and over, BTC has a limited quantity. Then I explain the difference between the inflation of fiat and deflation of BTC. Then I explain how, in BTC's case, there is nobody on this world to stop you from pressing "Send" from your wallet's menu.

I remind that bank accounts may always be frozen by banks, while BTC kept correctly, in your non-custodial wallet, can never be frozen by any entity. And, at this point, I explain the dangers some chose to face (knowing or unknowing) by using BTC in an inappropriate manner (centralized exchanges; centralized exchanges correlated also with bank accounts; KYC; hackers; identity theft etc.).

Then I explain how BTC is born, what is mining process and why it is similar to physical mining.

Then I talk about BTC's rarity and that, in time, its price should raise more and more, due to adoption and scarcity.

Then I take a break and I ask that person what questions he has. Then I answer calmly to all his questions... In the end I suggest some materials for reading.

This is how I introduce Bitcoin to a regular person.

I am not so sure this is the best way to go about this, if someone asks you about bitcoin and you see they really want to learn, it is better for you to sit down with that person and explain step by step instead of referring them to this forum.

Explaining things like the differences between bitcoin and fiat, why bitcoin exists at all, the most common scams and how to protect yourself from them are some of the very first things that need to be taught to anyone that wants to become part of this market, as this will save them a lot of headaches and losses in the future.

I don't even agree that explaining Bitcoin's volatility comes first. It's not even the second priority. To somebody who doesn't even know Bitcoin, how could he/she possibly grasp its volatility? Bitcoin's volatility only comes when you speak of Bitcoin's price.

Imagine a conversation that goes like, "Could you please explain Bitcoin to me?" And you go like, "First, you need to know that Bitcoin is volatile." It simply doesn't sound right.

When we introduce them with the money making stuff, the prime focus will be upon it. They never try to understand what really matters and the prime objective of the innovation. These days we've got more sources available to educate ourselves. Maybe we can direct them towards it and let them understand. If they need assistance in something we can teach them. This seems to be the better way than just introducing into the forum.

Most of the time on which people would really be easily get hooked up when they do see money making things on which it isnt surprising that this do really sparks out interest.On this way its better to make out those kind

of introductions which is pertaining on how to make money and this is where attention would be able to get into on a certain individual, but there are still things which needs to be considered out
because it is always suggestable that you shouldnt make out guarantees so that you wont really be ending up on getting blamed if ever their investment would go lost of track.

Also there are people who arent literate when it comes to technology which it do makes the introduction even more harder and challenging for them to understand.

Well said, this is a good way to make people understand well about bitcoin. Earlier people used to read and understand. Nowadays things have changed and based on the way they receive information about something their acts will change. So, initially we need something positive and attractive that could let him/her go through the forum.