Way to explain what is the bitcoin - page 3.

JoyMarsha

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I'm attempting to edit your post to make it more understandable and appealing to readers. This is what I can come up with in your post.

Quote

In the financial and investment world, money is act like liquid water while bitcoin is taken as the cup. Banks are gotten from the river because it has many liquid water in it.
Money is to be regarded as water while bitcoin is the cup of all assets which can be gold or other crypto projects, where the water(money) flows within it.

During the rainy season, those who have cup collects most of the water. If peradventure you sell your bitcoin, you have empty your cup.

Bitcoin is the big cup, altcoins have a small cup, and they get full faster.

Those who got a cup when it's rainy collect most water. The more cup, the more water to be collected with the cup.

Now, I think it's pretty understandable now that when you did not put a comma and full stops in your words.

OP I completely concur with what you wrote about using bitcoin as a cup to demonstrate how the crypto market operates.

Wiwo

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What is the essence of this explanation and what is the relation between bitcoin/cryptocurrency and the cup and how does the global financial statement and money follow into Bitcoin as an asset if Bitcoin doesn't provide the responded liquidity to absorb the financial flows as you claim, so in essence my point is that, bitcoin os not some free money printing scheme and whatever the volume of Bitcoin, it is a corresponding valuation of the liquidity Bitcoin provides in form of trading volume.

At some point, newbies need to build the right knowledge about Bitcoin and its technical connection to the financial system is instead of building false knowledge based on fallacies.

Agbe

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Quote from: nelson4lov on July 29, 2023, 01:31:13 PM

The explanation sounds complicated to me even though there are no technical terms in it. I'm not saying your analogy is bad but it could use some fine-turning here and there. For me, I just see bitcoin as Money but in a digital system without any mediator or intermediary to dictate or monitor if it could be spent or how it was spent.

It is not only you, I didn't comprehend what op is saying there. And if I can even understood it a bit, it would be that, the op is saying that bitcoin is a liquid in which everyone is using cup to come and fetch with big and small cups. Op has described bitcoin with the objects around to the way he understands it. Op if I were you, I have restructure the thread as everyone is complaining about the thread. Op what do you means? Please explain it in a layman explanation.

Nwada001

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If you are to be a nursery school teacher, I will not make the mistake of sending my kids to your school before you confuse their brains for nothing.

If you were the one to first explain bitcoin to people, I'm certain we would definitely have less than 10% of what we have right now as bitcoiners because it will be hard for people to really know the angel which you are pointing at. As for me, even with the little knowledge I have regarding bitcoin, I still can't explain what you mean by your entire content. I was thinking English was the problem, but that is really far from the truth. All I can see is some students trying to outsmart their professor but end up using the worst analogy to explain a term they assume they know everything about it.

ZAINmalik75

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You really used a good example to define the Investment opportunities like BTC and Gold. But many people do not consider BTC as an investment opportunity. They think of it just as a currency and use it as currency to pay for goods and services. But mostly people use it for investment. and then you must use an example, which uses some good similies like BTC is a cup ok and how can Gold be the same cup having the same characteristics.

Gold and other investment plans must be differentiated from BTC so that the true potential of the BTC could be unleashed on newbies to understand it better. One of my community members made a post recently, about the true potential of BTC is in finding flaws in the current financial system. And I think you should start with that.

BTC is decentralized and has limited supply but both are not present in gold, so you must use BTC as Financial Revolution or hedge against inflation but gold also plays that roles so, decentralization, anonymity, and scarcity are best.

nakamura12

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I am confused on what you are trying to explain about how you explained BITCOIN. Gold and BTC is not the samd although yoi are right that gold have price while Bitcoin also have price. If you want to explain about Bitcoin in a simple way, here's what you should do, Bitcoin is e-money or electronic money like Paypal but the difference is there's no actual Bitcoin like the fiat money and also Bitcoin is decentralized meaning no one is controlling Bitcoin and no government is behind it. Bitcoin can also be used to buy online and if you don't believe you can search for transactions where Bitcoin is used as a payment and one of it is BTC to Pizza (One of Bitcoin History).

decodx

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Op, don't ever try to explain Bitcoin to anyone like that; you'll confuse both yourself and the person you're explaining it to. Bitcoin is not a "cup" that holds money; Bitcoin IS money - digital money, plain and simple.

And, if you want to delve into more details about Bitcoin, I recommend checking out what mk4 wrote and using his sources. You'll get a full explanation of the entire concept, in both a simple and detailed manner.

Cantsay

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Quote from: Shortmaster on July 29, 2023, 01:22:36 PM

Btc is cup money is liquid the water and Banks are from the word like a River bank.
So money currency is water and btc IS the cup all assets gold btc and other crypto are the cups where the money the water flowing in.

Those who got cups to collect the water when it's raining those got most of the water so to speak they got most of the money.
If u sell btc early it means you empty your cup ...btc is big cup small coins smaller cups they full faster then biggest cup the bitcoin.

Those who got cups when its raining they collect the most of the money more water more cups needed to collect water.

Jeez your post would have been more understandable if you had used any punctuation mark.

Right now, all your text are jammed together making it almost impossible for us to make a sense out of it.

Bitcoin is cup, money is water. Instead of going through that stress, why not just do it the easy way? I've seen some alternate explanations for bitcoin to laypeople, but yours should not be included because it's even more technical than the standard explanation. If your technique can confuse those with minimal knowledge of bitcoin, consider what it will do to those with no knowledge of bitcoin at all.

At the very least, you should try to improve your post and include appropriate punctuation to make it more readable.

mk4

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That's such a bad analogy lol and don't even try to explain bitcoin to people in a profit-related viewpoint — you're going to get people burned. There are so many good content, so just point them to that. Don't try to explain something you don't understand especially when money is involved.

* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://chainsec.io
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters

komisariatku

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Although your parable is quite difficult to understand, maybe I understand your point a little. Bitcoin is a tool for making profit, that's the point, right?

I think talking bitcoin is not that easy. Bitcoin does offer advantages for those who are patient and dare to hold bitcoin for a long time. But what if you bought bitcoin at a high and it went down like it is now? can bitcoin still be called a cup?

Bitcoin investment has a lot of risks and you need to understand the basics of bitcoin, there are times when we need to sell bitcoin when the price drops deeper, there are times when we buy when we feel the price of bitcoin is low enough. Unless you plan to hold bitcoins for a long time, you probably won't need to check bitcoin's price movements very often, but it's not easy either. I often panic when I see bitcoin prices continue to fall and eventually sell my bitcoins

Faisal2202

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I think you are trying to become "metaphor aficionado" but believe me, you need so much practice. You need to work on your grammatical errors and use of comma is necessary to give some gap between statements. Well, other than this, i understood your point and i am agreed with it. We all have to get some CUP to store Money in it. And BTC is one of the best CUP i have came so far to know about. But you also mentioned Gold as good CUP too. But not all BTC CUP holders will agree with it.

But i will agree to some extent only. Because, BTC is far better than GOLD in many ways and i prefer BTC over GOLD. And, i have some opinions about your title. Which are if you wanted to explain someone about BTC then your metaphoric example is great but it need some upgradation and some more simplicity. Now it is on you to make a simple example. But this example does not differentiate between GOLD and BTC because you are referring both as same CUP while they are not.

You must find some more accurate example. (IMHO).

nelson4lov

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The explanation sounds complicated to me even though there are no technical terms in it. I'm not saying your analogy is bad but it could use some fine-turning here and there. For me, I just see bitcoin as Money but in a digital system without any mediator or intermediary to dictate or monitor if it could be spent or how it was spent.

Quote from: Shortmaster on July 29, 2023, 01:22:36 PM

btc IS the cup all assets gold btc and other crypto are the cups where the money the water flowing in..

Gold is not decentralized so it would be wrong to fit both BTC and gold in the same category.

Shortmaster

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Btc is cup money is liquid the water and Banks are from the word like a River bank.
So money currency is water and btc IS the cup all assets gold btc and other crypto are the cups where the money the water flowing in.

Those who got cups to collect the water when it's raining those got most of the water so to speak they got most of the money.
If u sell btc early it means you empty your cup ...btc is big cup small coins smaller cups they full faster then biggest cup the bitcoin.

Those who got cups when its raining they collect the most of the money more water more cups needed to collect water.

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