Bitcoin is nothing but same value as of your fiat currency but called as digital currency. It has a great feature that it's transactions are done anonymously with peer-to-peer. Today the Bitcoin value has grown a millionth of times.
Bitcoin is not the same as fiat if it was then we will not be here, while there are many differences one of the best is that bitcoin has a hard limit on the amount of bitcoin that are going to be printed and that is what makes bitcoin extremely valuable and that is why the price does not stop going up, since every four years the block reward gets halved and less and less coins enter the market. 
Topic: What is bitcoin - page 30. (Read 7914 times)
Bitcoin is a virtual currency that can be used for a variety of purposes based on the operation of the internet. Bitcoin can be used to pay, pay, and most of all to invest and be profitable.
I think this is a thing I usually encounter when someone wants to know what is bitcoin. Some of them, they just ask out of curiosity but there are still people who would ask me because they want to invest or put their money and time on it. But I think if they are really desperate to know what is bitcoin, they will be willing to find an answer without asking me all of it.
Bitcoins is a worldwide crypto currency and digital payment system. Also called as a decentralised digital currency as this system works without a authority.
It was invented by a unknown group of people by the name satoshi nakamoto in 2009. The system is peer to peer and transaction are made between people's without an intermediary. These transaction are verified by network node and recorded in public distributer ledge called block chain.
Bitcoin are also be created and rewarded as a prize in a process called mining.
It can be used as currency. It can be exchanged in return of currency or services or goods. With the increasing popularity of bitcoin, merchants and companies are investing in bitcoins and bitcoin is also become an investment.
Bitcoin is become popular that according to a survey, it is find that bitcoin is the most used crypto currency worldwide and most of the people whom having an crypto currency are using a bitcoin wallet.
Every advancement come see with pros and cons. So as bitcoin too. It has advantages and disadvantages as well as.
Bitcoin is from the day of its starting in increasing in popularity and has been seeing a constant price hike in prices.
It can be said that in future most of the people start using bitcoin as a payment method and investment more and more easily laid in it.
It was invented by a unknown group of people by the name satoshi nakamoto in 2009. The system is peer to peer and transaction are made between people's without an intermediary. These transaction are verified by network node and recorded in public distributer ledge called block chain.
Bitcoin are also be created and rewarded as a prize in a process called mining.
It can be used as currency. It can be exchanged in return of currency or services or goods. With the increasing popularity of bitcoin, merchants and companies are investing in bitcoins and bitcoin is also become an investment.
Bitcoin is become popular that according to a survey, it is find that bitcoin is the most used crypto currency worldwide and most of the people whom having an crypto currency are using a bitcoin wallet.
Every advancement come see with pros and cons. So as bitcoin too. It has advantages and disadvantages as well as.
Bitcoin is from the day of its starting in increasing in popularity and has been seeing a constant price hike in prices.
It can be said that in future most of the people start using bitcoin as a payment method and investment more and more easily laid in it.
What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
Well to explain better, you need to tell him that bitcoin is an online currency or money, it has no physical form like cash. You can also tell him about earning it and the transactions.
I came to know about bitcoins only in the year 2013 when I joined a new site and started working as an admin. It was my boss who explained me about this. Even now , there are many who have no idea about bitcoins and thus when they come across this word, many questions arises in their mind so they try to find the answer for it.
bitcoin is the future medium of exchange
Till now no one asked me this question because here in my country there is no much awareness about bitcoin.But if I face this situation I will tell them that Bitcoin is a currency like other fiat currency but it is digital and has implemented blockchain technology for faster and cheaper transactions.That would be enough and ask them to search google for more.
I think you can give your friend a simple answer like that: " Bitcoin is a kind of Power, which can give you to the Heaven or the Hell after one night". 
Bitcoin is a digital currency which allows you to buy and sell goods and service. It is accepted as a form of payment in some institution. Bitcoin's value is volatile which means it might grow its price from time to time. Because of this feature, bitcoin maybe used as a mean of investment. It is the most established crypto established which other altcoin are dependent into it. Bitcoin is anonymous and no one has contril over it, holdera has his full control over his fund.
This is the way I explain them. Bitcoin is a worldwide modern 'cryptocurrency' that is legalized by the government. Bitcoin's system is a peer-to-peer, and transactions takes place between the users directly, without an intermediary. These transaction are verified by network nodes and recorded in a public distributed ledger called 'blockchain. Bitcoin is the first decentralized digital currency.
Bitcoin is a modern currency which has made our lifestyle easier.The price of it is increasing day by day.We can exchange, invest or trade bitcoin from any corner of the world without expressing self identity.As,it is not legal in many countries,so,it is taxfree.I think bitcoin or cryptocurrency is the best currency you shoul prefer. 
What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
I wpuld simply say to them that bitcoin is somekind of a currency that is growing steadily and if you invest on this currency they will find there money having profit without even doing anything. If they still dont get what i was trying to say i would say to google what it means og bitcoin for futher information.
What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
Bitcoin is a consensus network that enables new payment systems and money that are entirely digital. Bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without central or intermediary authority. From the user's point of view, Bitcoin is similar to cash in the internet world. If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
Bitcoin is a digital currency and it has no physical form. It was termed by Satoshi Nakamoto. It can be transferred around the world with ease and there is no need of any kind of third party to transfer the wealth. Bitcoin was the first and most popular and most valuable crypto currency in the world as of now. If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
Bitcoin is a digital asset that was coined by Satoshi Nakamoto. It works as a currency. Bitcoin is commonly referred to with terms like digital currency, digital cash, virtual currency or a cryptocurrency. Bitcoin is also the first decentralized peer-to-peer payment network. As of now, it is powered by its users with no central authority. If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
I also do things like that, because with google all your questions can be answered clearly. but they are sometimes difficult to understand let alone about the investment and trading in this bitcoin. I explain by way of showing my results so far in bitcoin.
If someone asks me, and they do not know anything about bitcoin. I will tell them all of the things I know about bitcoin and suggest some blogs that regularly discuss about bitcoin. or maybe I will just tell them bitcoin is a currency where you can exploit its value and you will quickly get rich.
Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. It is commonly referred to with terms like digital currency, digital cash, virtual currency, electronic currency, or cryptocurrency and bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.
Bitcoin is the new derivative to trade in the markets
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