Topic: What is a good way to concisely explain Bitcoin? - page 3. (Read 1779 times)
Since Bitcoin is an alternative digital currency so that no government controls it. You will find very brief explanations on the forum on Bitcoin. I think you can also find more explanation through google or other blogs.
Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.
What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.
Bitcoin have many explanation, The meaning is depend to the human status for example the investor the meaning of the bitcoin for she or he is crypto currency that can use on online platform, to Ordinary people bitcoin is a part of online business. In Overall the meaning of bitcoin is a currency that can be used on investing,trading and etc. What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.
You can simply make them understand that bitcoin is just a digital currency on which there is no one’s control except you. You just own your own money and also the government has no control in it.
bitcoin is a currency that is not real and has a high price, that's all .....
to explain bitcoin to ordinary people sometimes is quite difficult, but I explained that bitcoin is a digital currency used in commerce that uses internet network.
Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.
What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.
Bitcoin is a representation of blockchain technology and Bitcoin was created for the purpose of paying for internet services. In addition to using for billing purposes, Bitcoin is currently being used as an asset, and everyone wants to buy Bitcoin and hold in their wallet.What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.
Bitcoin is an easy payment tool that can be used all over the world and across the continent.
Bitcoin currency is not known in the banking system and is not related to the government.
Bitcoin currency is not known in the banking system and is not related to the government.
Briefly explain: Bitcoin is electronic money, decentralized government can not control and create bitcoin. It uses blockchain technology security and security. All transactions are transparent on blockchain and no one can modify the transaction as current currency to cheat.
That reminds me of the first time I heard of bitcoin. I really hear the last word "coin". That was on campus when a friend of mine visited me. We were both broke and had no cash on us. But we were eager to enter into business to earn some money. After I had cooked for him to eat, he said his brother was into a mining business and they deal in bitcoin and really earning big. I thought bitcoin was a newly discovered mineral for the mineral mining sector. Then a day after I heard the price of bitcoin on the business new. Oh, how can I be so naive. Bitcoin was no mineral. Probably i got confused because of the mining I heard. The only simple way I understood Bitcoin is that it is just a digital currency that can be mined, traded for fiat, and for payments of online services. It is not controlled by anybody.
btc can be regarded as a digital currency that can be made as a digital asset, wherein an asset, the price is somewhat fluctuating, can rise and can go down, but when viewed in terms of long-term, this asset can still develop
Bitcoin makes it easy for you to move money, Bitcoin is a payment system, just like a bank transfer or credit card method, but Bitcoin is a bit better.
Bitcoin is an alternative digital currency that there's no government who controls it.
You can search in the forum pretty concise explanation on what bitcoin really is.
Sets of pretty simpler explanations are also in google by just doing it within few seconds.
Bitcoin is a cryptocurrency that was very profitable and beneficial. It was decentralized where no one can control it evern the government. Its price was volatile which means there is an up and down on its value. If you really want to explore more things about it just keep reading different thread about here. You can search in the forum pretty concise explanation on what bitcoin really is.
Sets of pretty simpler explanations are also in google by just doing it within few seconds.
You can explain with several examples relating to what an individual can visualize with thought pattern, though it is
much easier for an individual that has a basic technical knowledge, Explain base on the old policy of trade by batter, meaning, you exchange you fiat for another form of currency that is digital,which you cannot see unlike fiat, but can be confirm from your wallet, also Bitcoin is also a basic answer to the cashless policy advocated globally.
much easier for an individual that has a basic technical knowledge, Explain base on the old policy of trade by batter, meaning, you exchange you fiat for another form of currency that is digital,which you cannot see unlike fiat, but can be confirm from your wallet, also Bitcoin is also a basic answer to the cashless policy advocated globally.
It will be quite hard to make a non technical person understand bitcoin properly. In short words, bitcoin a kind of digital currency which is free from third party control.
Yeah when people are coming from a non-technical side they will most likely get confused if anything to do with [Suspicious link removed]es up. So it's probably best not to mention that unless they ask how it is secured, you can say "There's a unique algorithm type coding that's called blockchain. It requires multiple validations and is hard to crack" or something like that.
But I would focus on the more social aspects of bitcoin. Like the fact that you have complete control over it, and the banks cannot influence it. It's value is determined by the people who invest in it only.
Maybe about the virtual nature of it too, but this could certainly be confusing for some.
But I would focus on the more social aspects of bitcoin. Like the fact that you have complete control over it, and the banks cannot influence it. It's value is determined by the people who invest in it only.
Maybe about the virtual nature of it too, but this could certainly be confusing for some.
For non technical bitcoin can be explained to him as the most renowned digital currency that is used for transaction and with high potential of not making their holders poor
The best short explanation is that it's electronic money of the Internet. Money independent of banks and governments not controlled by anyone. Some people are comparing it to virtual gold because it doesn't depend on banks and local economies and its amount is limited.
Bitcoin is a virtual currency that is not backed by any country's central bank or government. It can be traded for goods or services with vendors who accept Bitcoins as payment. Bitcoins are stored in a digital wallet, which also holds each address the user sends and receives Bitcoins from, as well as a private key known only to the user. The network is designed to generate approximately 21 million Bitcoins and the network is set up in a way to deal with inflation
Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.
What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.
Bitcoin is a representation of blockchain technology and Bitcoin was created for the purpose of paying for internet services. In addition to using for billing purposes, Bitcoin is currently being used as an asset, and everyone wants to buy Bitcoin and hold in their wallet.What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.
Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.
What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.
To me, Bitcoin is the only asset that helps me to be rich. Although Bitcoin is volatile, I think this is a good opportunity to make a lot of profit in the short term. Some people call Bitcoin a bubble, but I never care about what they say about BitcoinWhat I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.
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