Topic: The difficulty of explaining Bitcoin to people is massive - page 2. (Read 1141 times)

I agree with you, because everyone's understanding is different, so don't compare other people to yourself. Moreover, explaining to ordinary people,
we really have to explain simply in language that is easy to understand. Do not explain in detail in terms that are too difficult, it will only make those
who listen to our explanation more confused. Then the most important thing is just to explain about Bitcoin that people want to know, let's not get
too technical, it just makes people think Bitcoin is complicated. After that recommend some trusted sources of information, let them learn more
about Bitcoin.

I have the same issue when talking to friends and family, it's very hard to explain crypto currencies to older people. Most of my friends or family have no financial background, they are not really into managing their own portfolios and just give the money to the bank and buy whatever they recommend. Without any previous knowledge I struggle to tell them what I am doing in particular and for them it seems like a waste or even scam. Especially my dad is very against cryptos and any form of online banking or trading. His stubbornness might came from age or its his nature. Its a bit funny because my uncle, his twin brother is very interested into Internet and new things. The best way to explain bitcoins I found is to start with a fixed amount of Internet money that records all transactions in a big book, which is held my many people around the world. So it can't be that one person just makes stuff up in his books, because all the other people wouldn't accept. I am trying to avoid the topic of mining because it makes everything so much more difficult for people with no previous knowledge.

I think it's enough to explain to them that bitcoin is the same as money that is change  into a balance in the savings they save in the bank, its nature is only limited to writing, the only difference is that bitcoin doesn't have a physical, while savings balances can be changed to physical,  the precious sheet of paper.
While the working system of the exchange rate is almost the same, there is a factor that makes the value up or down.

Where I live it is difficult to explain about bitcoin not being applicable because in my place many people have invested in coins and done manual trading or trading using trading robots so over time many people have believed that investing in bitcoin and alcoin can get extraordinary profits, I am worried about the situation That's because maybe I predict that in the future more and more people believe in coin investment, maybe the price of gold will drop.

society has a variety of traits and ethics, so it makes people understand about Bitcoin and how it works, it's really a tiring job.  besides that, the role of the government is really the most needed for bitcoin education to the public.  just look at what happened in el salvador, more than 85% of their citizens already understand what bitcoin is and how it works because their government educates its citizens evenly.

Oh well, they're a little bit of a basher but not really haha. When I talk to people about bitcoin, or even just open charts, they are amazed and say things like, "I'm sure you're making a lot of money out of that." When I talk to people about bitcoin, their first question is always, "How do we make money out of this?" I'm not sure how to answer because there are so many different ways to partake. I believe you should simply explain it based on your understandings because you already know that they will realize in the future that what you have said to them was correct.

For people who isn't using computer or not a techy one, it really is hard to explain it to them.
Instead of them explaining what are the basics of Bitcoin,  you need to share to them at least a little bit of financial management because lets not forget that its not only learning what is Bitcoin and the basics of it but when to invest and when not too so overall for me it really is hard especially for those who have 0 knowledge in Bitcoin or not techy and no financial literacy.

I also tried to explain it but they can't cope up because of its complexity so what I just said is that, if you really want to invest into it just buy and hold it and expect some ups and downs. For me its the simplest way of them introducing to Bitcoin and crypto and its up to them if they will do a research or not.

I think of the many years that have gone by, its become much easier to explain what bitcoin is to people because this is something that is talked about everywhere and credit must also go to the media houses for giving cryptocurrencies the coverage they deserve and also one way i like to hear the most is the ELi5(Explain like you 5) as this gets interesting explanations.

Of course this is not an easy matter to explain bitcoin to big people where currently bitcoin gets a lot of opposition from various circles so it is very difficult to explain to these big people how bitcoin actually performs, especially at this time bitcoin has not received adoption from various countries then this can be a barrier factor for bitcoin being introduced to big people or influential people around them, but if bitcoin has been widely introduced the process of adopting only then it is not impossible that anyone wants to be in the crypto world in the long term

I think it will be very difficult to explain bitcoin to people who do not have basic knowledge of technology and of course it will be very difficult for them to understand although basically we have tried to explain it using simple words, previously I have also explained about bitcoin to some friends I and I say that bitcoin is a virtual currency that has no physical but a real presence in the internet space and we can make transactions with fellow users all over the world.

Firstly, I would ask them counter questions like that about FIAT that they have been using for quite some time now. Things like why does a country print money and what it does with inflation, how does the banking storage of money work, what are economic safety checks in place that assure your currency will not devaluate, so on and so forth. I bet you they wouldn't know the answers to that. It's 2022, you don't have to be a televangelist for crypto a preach everywhere you go. There are numerous articles, books, and YT videos published on those topics, and if they are really interested in the details, they can go look it up and educate themselves. You know, like people used to.

It is true that the difficulty of explaining bitcoin to people is widespread though it has been for some time but now people have gained knowledge about many technologies. People already knew what bitcoin was, one of the first spikes to be blamed primarily for the economic crisis in. Cryptocurrency has suddenly offered a more attractive way to fund money with the promise of continuous access. People are improving through technology and the use of bitcoin has increased more than ever before.

I've had an experience like yours, I think you can teach them slowly about Bitcoin, give them a reasonable understanding of Bitcoin, don't teach those who are difficult to understand, show proof of their investment about Bitcoin, if necessary borrow their money for example $ 1000 to invest in Bitcoin and share a little result from that investment for them, in that way a large percentage of them can understand Bitcoin quickly, I did a trick like that.

As a person who had the same feeling while trying to explain some things about Bitcoin, I can understand you very well. It is really hard to explain it to people who have no relation to the technology or people who are fully close to new things. They are doing just fine with the traditional money for now. But when the time comes and digital currencies start taking the place of the traditional ones, I wonder what they will do then.

if its about how bitcoin protocol works
the best success i have had  was using the cheque analogy

short version
its like writing a cheque to someone but instead of a central bank clearing it. special people around the world do it using special mathematically complex specialist devices that cost alot of workload to make a batch of cheques valid, in such a way that its complex to make the valid batch, but super easy for everyone else to quickly verify they are all valid. where everyone in those cheques is deemed as being paid when everyone agrees on the same block as being valid. becasue there are strict rules in place. everyone can come to the same valid block if the block passes the same rules everyone has.
once everyone has the same batch of cheques deemed as valid
the special workers get paid a reward based on the rules they need to meet for a valid batch. thus giving that reward a labour cost which they want to spend. thus giving the reward value. people receiving this 'coin' reward then speculate the value above their acquisition cost based on many things

slightly more detailed version
imagine you write a cheque paying someone, it has where the funds come from, where its going to, the amount, and a signature thats unique to you but you sign it slightly differently per cheque to be extra special.

this cheque is photocopied to everyone, but dont worry its only a cheque between you and the recipient so no one else can cash it

special accountants collate these cheques and they include a cheque on the top of the pile paying themself a reward for work.
into a folder named merkle
they do special maths on the details of each cheque to come up with a merkle ID for the cheques
and some other details like date/time and the math difficulty they attempt, to make it a block of data. they also include an ID of the previous block that was solved by some previous accountant

then they do more complicated math where they attempt trillions of times altering couple little details in the 'some other detail'. the aim is to get a block ID that can easily be calculated back to the contents but also needs to have several 0's at the start. which doesnt happen easily.

because each block has a link to the previous block, the blocks are chained together. hence the word 'blockchain'

if all is successful, and they have a block ID that calculates to the contents and meets the math difficulty requirements.
then they publish this block to everyone who can check their work

the checks everyone can do involve checking the math and also checking all the cheques in the block are moving value they are signing correctly for and deserve to be spending. check the accountants are not trying to charge too much reward for their work. and lots of other little rules. and if it all passes. everyone deems that as the latest valid block.

with everyone confirming the same block on the same chain of blocks. all of the transactions within the blocks become deemed as confirmed. and everyone is sharing the same information.

then thats about it. its deemed the recipients are worthy of the value sent to them. and they can then use that confirmed cheque they received as their value to then spend themselves in future payments.

the accountants are called miners. and they get rewarded X bitcoin for their tiresome math work that these days costs hundreds of thousands of dollars of electric to do. there are rules for their reward. so they have to do a good honourable job to ensure they get paid right.
but their hard work then makes it super cheap and easy for everyone to verify the work and so not everyone needs to be a miner they can just be a verifier or even just a value holder or spender.

these miners are not some government institution. if you wanted to get the special complex math mining equipment you can help out. miners are just random people. where one lucky person or group gets to solve a block and get paid for their work.
leaving everyone else to simply verify quick and cleanly without headache or strain. and just get on with acquiring or spending the value of payments made to us.
the miners expensive work gives that reward a real world cost of work, which they want to spend the reward for something of value. thus giving the reward value. people receiving this 'coin' reward then speculate the value above their acquisition cost based on many things.

I guess what’s being difficult for them to understand is the part that Bitcoin is a decentralized currency. Just try to explain the decentralization for them in a way that it would be understood. Explain to them that being a decentralized currency means that bitcoin doesn’t have any central control unit, rather it is being spread out across computers all around the world that involves in the mining of the currency.

So, that way no one person can control it and not even the government can do anything about it. Even if Satoshi Nakamoto shows up today he can’t do anything about it, he doesn’t have the control over it. I believe that the whitepaper written by Satoshi explains this very well and you can refer them to it.

For the process of introducing bitcoin to big people, it's certainly not easy considering today how bitcoin gets opposition from various groups so that the introduction approach process is a bit hampered, especially regarding the adoption process from these big people, unless the adoption process can be carried out by a whole group of people. then it's an easy way to do the introduction process

There’s really nothing that you can use in comparing Bitcoin because it is the first of its kind. Even if you try to make use of gold in explaining it to people, there would reach a point where you would be unable to go further with that explanation because it wouldn’t work at all.

How do you explain to them the ‘decentralize' part of bitcoin when Bitcoin gold is not decentralized? So, that’s the questions that you have got to ask yourself and the best thing is just for you to go straight to the point and tell them what it is all about. Tell them what it is and it’s up to them to choose to believe it or not.

Then spreading it would only end up getting much slower if we were to do your approach, the point of explaining the basics of bitcoin is to make sure that you're eliminating ignorance towards a certain subject plus there is a possibility that you're going to find people that would get curious of bitcoin because they know so little about it. Also, it's not a waste of time if they want to hear about it and even if they don't have any idea of it.

explain how it works bitcoin in details is not easy. you can explain with some examples but isn't enough in most of the cases.
but really, they need to know how it works? using modern technologies doesn't requires you're an expert of that field.
I mean, we are all using internet, but I have not idea about the stuff behind and what it helps internet to work.
But I am using it with a nice GUI and other applications and it's something that I can't reject on my daily life.
Probably in the future we will use blockchain (hence bitcoin) as we are using now Internet. Masses doesn't need to know exactly how it works but they will use.