Topic: Shower thought. Why is Bitcoin hard to define? - page 2. (Read 605 times)
Most of the people are confused with Bitcoin and use it as a long-term investment which will give them profits with time, they forget the part that its a crypto-currency which can be used just like other currencies.
Bitcoin is hard to define because of its diversity, it is hard to just say it as a peer to peer payment, it has showed a deep root to block chain technology and hyper ledger.
So e pray bitcoin as a life saver, some as technology revolution while some who hate government and wanna topple the economic tradition.
In short everyone has its own definition.
So e pray bitcoin as a life saver, some as technology revolution while some who hate government and wanna topple the economic tradition.
In short everyone has its own definition.
A non-Bitcoiner friend asked me, "What is Bitcoin?", I was unable to answer directly as my mind was racing to find an answer. My first instinct was to tell him that it was a "peer to peer digital ecash for the internet", but should something global, trustless, provably scarce, independent, open, and censorship-resistant be described as something so shallow?
Bitcoin is much more, but it's very hard to find the words to describe it.
Don't explain bitcoin on a difficult way to understand, try to explain it in a simple way, like, bitcoin is a digital currency that we can use online like buying kinds of stuff or paying online bills, or simply say, it is already one of our currencies now like fiat the difference between the two is that, bitcoin can only be used online while fiat is used for physical stores.Bitcoin is much more, but it's very hard to find the words to describe it.
Bitcoin is complicated to some, especially those who sees it a wrong way, like they see it as an investment rather than a cryptocurrency.
A non-Bitcoiner friend asked me, "What is Bitcoin?", I was unable to answer directly as my mind was racing to find an answer. My first instinct was to tell him that it was a "peer to peer digital ecash for the internet", but should something global, trustless, provably scarce, independent, open, and censorship-resistant be described as something so shallow?
Bitcoin is much more, but it's very hard to find the words to describe it.
Don't explain bitcoin on a difficult way to understand, try to explain it in a simple way, like, bitcoin is a digital currency that we can use online like buying kinds of stuff or paying online bills, or simply say, it is already one of our currencies now like fiat the difference between the two is that, bitcoin can only be used online while fiat is used for physical stores. Bitcoin is much more, but it's very hard to find the words to describe it.
Depending on our level of understanding, for me every time I have a friend who ask me about bitcoin, I would tell it's a currency or online payment system rather than an investment. It would be easier for them to understand if we will use a common terms, the difference from other online system is that bitcoin is decentralized and that makes it unique and transparent, so far, I explained it well and they just do the rest of the research.
I simply tell them it's money that don't have any physical form, that they'll onlybever hold them in a digital wallet. After I tell them how it can be spent and stuff, they'd usually be cool bout it. Of course I can also tell them they don't actually "own" the bitcoin, that it's all ledger and stuff but that would just get complicated. They'd be able to use it without knowing all those.
That was true. Actually, I was kinda tired of explaining to them what really is bitcoin. Even if I express in a simplest and nicest way, they are really confused about it. But one time I just said that it can be used as an online payments and can also be possible to become an investment then they said, "Oh, I get it."
See? If they are an open minded person, they'll probably understand.
See? If they are an open minded person, they'll probably understand.
Just give a definition of bitcoin, and give an explanation of the advantages of bitcoin compared to fiat they will certainly understand your point.
A non-Bitcoiner friend asked me, "What is Bitcoin?", I was unable to answer directly as my mind was racing to find an answer. My first instinct was to tell him that it was a "peer to peer digital ecash for the internet", but should something global, trustless, provably scarce, independent, open, and censorship-resistant be described as something so shallow?
Bitcoin is much more, but it's very hard to find the words to describe it.
yes its really hard to describe but when someone ask me about bitcoin Bitcoin is much more, but it's very hard to find the words to describe it.
i dont explain it i just simple answer its a currency
A non-Bitcoiner friend asked me, "What is Bitcoin?", I was unable to answer directly as my mind was racing to find an answer. My first instinct was to tell him that it was a "peer to peer digital ecash for the internet", but should something global, trustless, provably scarce, independent, open, and censorship-resistant be described as something so shallow?
Bitcoin is much more, but it's very hard to find the words to describe it.
Bitcoin is much more, but it's very hard to find the words to describe it.
Well it's really hard to explain especially for people who are not technically inclined. I would just say it's "digital money", simply as that.
But it gets more complicated if he/she started to questions more about it and that where the problem arises. You can throw a lot of words that doesn't ring a bell to them. That's why it's better to have a sit down talk with that person so that he can truly understand why bitcoin is.
It is hard to define because its a sophisticated technology, but you can explain about it as simple as possible, you can just said it's a digital currency that don't need a third party, it could give people freedom to used, there are many ways to describe bitcoin, and it's easier to explain when you give them the example in practical
You don't need to describe about bitcoin or give any definition since its hard for newbie to understand bitcoin. All you have to do is tell him that its a digital currency. More you go deep more than chances he don't understand. Ask him to try bitcoin himself it can help him to understand proper about bitcoin
Bitcoin is much more, but it's very hard to find the words to describe it.
it only seems hard because we haven't had to do it that often. how many times does someone ask you what bitcoin is? if you explain it a couple of times then it will become easier. besides it is usually harder to explain things that we understand ourselves and have never had to explain them. for example if someone asks you "what is a bank", "what is starbucks",... you will have the same hard time coming up with some explanation.
bitcoin is a decentralized digital currency, where you can send money anywhere in the world with low commissions or also buy products ... then it is already explained other things if possible (such as investment, trading or ways to earn money)
A non-Bitcoiner friend asked me, "What is Bitcoin?", I was unable to answer directly as my mind was racing to find an answer. My first instinct was to tell him that it was a "peer to peer digital ecash for the internet", but should something global, trustless, provably scarce, independent, open, and censorship-resistant be described as something so shallow?
Bitcoin is much more, but it's very hard to find the words to describe it.
Bitcoin is much more, but it's very hard to find the words to describe it.
Since I don't live in the US, the first thing I tell people is to try to think of it as a dollar. You can hold and exchange it later or you can use it to pay directly if someone is willing to accept it without conversion. Usually enough for them to realize it's really not much different from the cash in their wallets.
I rarely talk about the blockchain to anyone unless they seem curious enough since it tend to confuse people.
hahaha you are right, id we said bitcoin is the digital currency, i think its not wrong, but its not correct 100%. we need to define bitcoin with their system on it, like the blockchains system that used on bitcoin network, the decentralized system. we should define it all ahhahahaS
I don't think that it is hard to define just tell them that it is like gold or stocks the only difference is it is on the internet and it is decentralized.
And the small piece of it is called Satoshi or Bits.
And the small piece of it is called Satoshi or Bits.
It's hard to define when you're talking with someone who doesn't use a smartphone at all. Or someone who has a computer but uses it only to check social media and google things.
If you're talking to a young person who uses electronics every day you should tell them that bitcoin is electronic money that allows you to make fast and cheap payments everywhere in the world but doesn't depend on central authority like fiat money.
If you're talking to a young person who uses electronics every day you should tell them that bitcoin is electronic money that allows you to make fast and cheap payments everywhere in the world but doesn't depend on central authority like fiat money.
A non-Bitcoiner friend asked me, "What is Bitcoin?", I was unable to answer directly as my mind was racing to find an answer. My first instinct was to tell him that it was a "peer to peer digital ecash for the internet", but should something global, trustless, provably scarce, independent, open, and censorship-resistant be described as something so shallow?
Bitcoin is much more, but it's very hard to find the words to describe it.
Bitcoin is much more, but it's very hard to find the words to describe it.
I have been asked the same thing several times before and what is my answer? I just tell them that bitcoin is a way to earn money in the internet. I answer like that because I believe that most people will be interested to learn more about something which is related to "earning money". Once they are interested then I will tell them more about it, my main idea is to attract them to learn about bitcoin. So we should have an attractive answer to make them curious about it.
Your style is a good entry point to gain interest in the bitcoin
I suggest you talk to them about financial freedom, low cost of financial transactions as well as disposal of bank control.
When ever someone ask me that question I would just tell them that it is a crypto currency,
And if they ask about the value I would just simple say that the value depends on the demand it is just like a stock market the people are responsible for the price it depend on the stock and demand.
And if they ask about the value I would just simple say that the value depends on the demand it is just like a stock market the people are responsible for the price it depend on the stock and demand.
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