Bitcoin Forum

Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?

I think you meant to say a currency which isn't backed by government or corporation yes? It is going to be quite tough to try and explain this over 5 minutes but the brief points you can make are that centralized authority when it comes to money has failed us time and time again. Knocks down borders and payments can be made to anybody internationally and received in less than a minute (not confirmed but acknowledged). The 4-5 billion people who don't have access to banking services soon via cell phone will have access to banking and any bitcoin wallets. This is the tip of the iceberg but if you explain this it will hopefully be enough to make them look further, which if they are critical thinkers they most definitely should give it a look.

To teach it you have to understand it and get across the point about owning the private key really does turn
your phone into a bank unless of course the currency crashes due to outside factors like miners ramping up
fees and the development team doing nothing about it.

Hopefully you will also understand the Lightning Network in case someone points out the mega
slow transaction rate of Bitcoin so please let me help you out here in case you end up pissing your
co-workers off

https://bitcointalk.org/index.php?topic=2776719.msg28395400#msg28395400

Even my misses gets it but i had to use Bob the builder to help

A bitcoin does not provide income, so it's value is based on its utility. Because Bitcoin basically has no utility right now, the current value of a bitcoin must be the discounted value of the future utility. In other words, if a bitcoin will be worth something in the future, it must be worth some fraction of that now.

I think many people here don't like to hear it, but I would say the currently price is on that number because speculation... People see it's a profitable investment, so they want to try too, so many of them put their money in BTC and push its price up. Store of value feature is very interesting and attractive for everyone.

On long term I believe Bitcoins loses the speculative characteristic as it will have more utility, being accepted as payment for several kinds of businesses and being more present in our daily life. More accessible and easy currency to use, which you are under the control all the time, without the need of third party services (banks and governments).

There is no reason why Bitcoin is expensive, unfortunately the supply and demand is not strictly working in Bitcoin. Because the cost of 1 Bitcoin to miners is $ 2,000, we can understand how expensive it is.

Will in my first heard about the bitcoin a few months ago i thought it was a fraud, but i tried  it out after i had come to know some people making money on it.
Bitcoin is an open source, p2p form of digital currency. A people currency with no government or central figure controlling things like interests rates or inflation. Bitcoin transaction can be reverse, so users can receive payments without having to worry about charge back and the fees associated with them.
You can't get them back. Because bitcoin is peer to peer,fees for transactions are extremely minimal or even free.

Will in my first heard about the bitcoin a few months ago i thought it was a fraud, but i tried  it out after i had come to know some people making money on it.I think many people here don't like to hear it, but I would say the currently price is on that number because speculation... People see it's a profitable investment, so they want to try too, so many of them put their money in BTC and push its price up.

We can explain bitcoin to our Co workers by telling him the successful effect and how bitcoin can help for our future and answer financial needs

To explain them is very easy. The first thing you need to mention is its benefits. Do not say harmful things, it will only show that people do not want to participate.
Show them what you got after participating in ICO projects on the bitcointalk forums and how profitable it was in the past five months. They need to see the benefits of bitcoin and they will automatically take the time to learn. simple.

Explain the success of bitcoin and the progressive of it try to explain in watching youtube stuffs about bitcoin.

I've found a great method to explain bitcoins and crypto to morons normal people.

First, ask then this. "How is you money created". When they try to tell you, correct them. No one has a clue yet everyone uses it.

After that, explain how banks work. You take a currency that's infinite supply and is used to fund the biggest wars known to man, then you TRUST some RANDOM with YOUR money. Why? Oh, because that's what my grampa did. And his dad. And his dad. Yeah okay, but did you know you can be an early investor in something better? This is currency 2.0.

They'll ask about mining, say it isn't profitable and don't get into it BUT it's essential. Basically, you create bitcoins with math. Leave it at that. Just, be like it's a half trillion dollar market, believe me, the math behind this is legit. You heard of encryption? Same type of math here, cryptography. Yeah. It's cryptographicly provenance currency. Not just, okay let's print another few million each day and we'll devalue our currency by 3% every year, year over year, until it's worthless and then we start over. What great logic.

Ask them what the best oldest currency is. Ask them how long a fiat currency lasts. Ask them why they trust a bank with their money when they can hold a better currency themselves and be their own bank. Literally, your phone is a bank. Stop playing them to hold your money.

It is simple, do not tell anything to them, they are going to bully you for your entire life in there as long as you keep working in there.

This is just an advice, i tried to explain it to some guys and they were just thinking that i was smoking weed before i talked to them about "bitcoin".

it is quite hard to explain bitcoin to others when they do not understand what Decentralized means and they want to compare it in their heads with what they know from a "currency" in the usual sense of the word. and these days it is even harder to explain bitcoin because of the high fees.

before i would have just showed them a couple of places that accept bitcoin such as Microsoft, and made a payment and that was usually enough.
also remember that 1 whole bitcoin is expensive but 1 mBTC or uBTC or 1 satoshi even is not expensive at all and they can always have smaller than 1 whole bitcoin.

If you can't explain it to them well or if they want to know what bitcoin is, let them make an account in this site, little by little, same like me, let them read here and they will get to know all about bitcoin... Just be a guide to them....

My technique is to send first an email. it includes basic links and fundamentals about bitcoin.. youtube clips. and facts from years earlier Vs now. though i know they wont read it with all of their heart, i will make a run through of my email to them personally,( like a small seminar).. then the hype is on..

Bitcoin is really hard to explain because of its complexity. If your office mate really wants to know more about bitcoin and learn how to use it, it is better to let him do his own research. In that way he will learn easily than telling him what to do and how it works. You will never fully understand bitcoin unless you try it yourself so let them try it and let them explore it like the way you learn about it.

I will actually let them research on their own at you tube or google about bitcoin on how it works for beginners, how to invest and earn from it. I just think that if people are interested into bitcoin, then they will have to make an effort in order for them to understand the basics since knowledge is an important key to be successful and minimize the unavoidable errors.

You can't force them to learn what Bitcoin is. If your friend or Co worker doesn't want to know what Bitcoin is then leave him alone.

First, let them understand that if they are interested about bitcoin then inform them that there is an opportunity for new comers to earn bitcoin by simply joining the bitcoin forum through signature campaign ad or they will invest on bitcoin. But before that, they should learn and understand how it works since there is always a risk involved. That is why knowledge for the newcomers is a must.

I think focusing on the decentralization part would definitely help you to explain about Bitcoin and blockchain technology to your friends and co-workers. Never ever going to buy or invest in Bitcoin or any other alternative. Because it is something that the other person might not take in a natural way. Try to differentiate the traditional model of payment on the international level and compare with the benefits that we are getting from using Bitcoin for the same transactions. Also, explain your coworkers about the current limitations of Bitcoin and future scope of it when we will find the solutions for the current issues.

Explain the best way to earn and what does bitcoin to our everyday needs and what is the value of it than our currency .

I just want to clear that it's not backed by government and I hope it's just a typo in your post. Explain them that the powerful technology behind btc which is the blockchain  is what makes it very valuable.

Trying to explain it really hard. As the market continues to decline and worse news about it makes explaining to my colleagues more difficult. But I often tell my colleagues the volatility of the market is helping many people make a profit that's why we should not scare it.

Well, i tried to explain it to my friends, but they think it's scam. No matter what i tell them, they wouldn't believe it. Always find a way to make an point, how people will get burned, lose all money and its bubble, etc etc. So now i stop explaining.. some people don't trust the currency they can't see.

Your explanation is correct that the number of requests to make the value of bitcoin prices always go up, we know with the science of commerce that bitcoin system runs, and the reduced inventory makes bitcoin as a rare and special item.

To this I will add true ownership of our money, the money we use in our everyday lives does not belong to us, you just need to look at how quick your bank accounts can be closed or seized even when you have done nothing wrong and you need months explaining why they made a mistake, this does not happen with bitcoin where you are the only to decide what happens to your coins, this is why the wallet of bitcoin is not just a piece of software where you have your coins, it gives to you the same power as any bank around the world, tell them this empowers the people around the globe.

Thanks for all the comments boys! I'll be at work tomorrow and I will try to explain them when the topic comes up. I'll make sure to use all your tips, thanks again!

Hi there,
I'm new here, but it is interesting for me to learn more about bitcoin. Could you help me?

Good friends reply, it is true that affect the price of the amount of supply and demand. If everyone thinks the coin has good functions and benefits then the price will be higher.

Explain in popular language!
Bitcoin is a virtual currency, but it is a small quantity that has the ability to appreciate and can be bought and sold, and you can buy and trade as long as the merchant recognizes it.
When they get to know BTC, they will look up the relevant information themselves.

or it can be considered to store the value

It is the matter of interest. If a person is not having interest in Bitcoins, it is hard to make him understand the importance of Bitcoins.

Bitcoin is a type of cryptocurrency, a digital currency powered by the combination of various technologies. There are no physical coins. Only account balances that are stored on a distributed, public ledger. It can be used as a store of value or as a currency for online transactions. It’s money that you can’t see or touch (kind of like a credit line), but you own it!

Before you explain bitcoin to anyone you should know it at the first place so you can give them the right information and help them fully understand the function of bitcoin. Its really hard to encourage people to use and invest on bitcoin but in this little things we can make difference.

maybe share some simple YouTube videos about it with them.

You have to  introduce him first about what cryptocurrency and blockchain technology is. After that, you have to tell him directly what bitcoin is, what it it can do, and make some comparison and state some disadvantages and advatanges about bitcoin, fiat, and gold. Finally, tell him what is bitcoin's value today.

you should better understand about this that bitcoin values ​​are based on their usefulness, so bitcoin can help meet our financial needs in the future. you can tell your colleagues that they understand that.

I also tried to explain it to my friends and to my brother too, but guess what they also think that it was a scam also. Well, I guess they are being used to hear those news of mine regarding online businesses because I've done a variety of online business way back 2015 and like what many I'm also failed and experience those failures somewhat makes me feel afraid of trying again, but then here I am in this world of digital currency which now I can say that I've made a right choice, and i would show to those my friends that choose to not believe in me.

you are really very difficult to get people interested in bitcoin, especially if we do not have any strong evidence to make them believe you for example benefit from your hard-earned work in bitcoin. let alone a beginner explaining it.

You should explain only to people who are interested in Bitcoins.

I suggest you should share in Facebook, Twitter and some other social media is helpful to understand the  co-workers. In current scenario all the peoples are always active in social medias so you should share something definitely all the peoples are watching the post. But it is not easy to explain in all peoples everyone have different set of mindset. So you should share something in different newly that means daily you should posted in just cryptocurrency, Bitcoin and blockchain this is not enough to understand. So you should create a curiosity then only all the co-workers are easily understand.

You're wrong when you said it was backed by a corporation or the government. It is a decentralized currency so how come the government owns it? Anyway, I really don't explain bitcoin to my co-workers because they already knew it. I explain some atlcoins. I'm a trader so I explain it to them.

it is difficult to explain to someone who knows only the theory but not intriguing how to apply their knowledge. you can not even explain to them what bitcoin really is if you're new to crypto also. till them to watch  on youtube and read what bitcoin is and why their currency is decentralize and not own by government.

Explaining to them might not be very easy. But first thing, you need to state its benefits. No disadvantage things to be said, because it will show that the people you are explaining to do not want to participate in what you're saying. Explain and show them what you got after you participated in ICO projects. and how profitable the participation was. They need to know and see Bitcoin benefits then they'ill automatically take their time to learn more on their own.

This kind of thinking is very common unfortunately this is something that I face every time I try to explain bitcoin to friends or family, they know that I have an interest in technology and most of the time they hear about new stuff from me but when it comes to bitcoin they let their opinions to be influenced heavily by the media that depicts bitcoin as a scam and this makes really hard to explain bitcoin since they do not want to listen.

It's a challenge every time I'm confronted with a task of explaining bitcoins and
cryptocurrency to a friend, a stranger and even a co-worker. Basically the absence
or lack of interest of the person makes it hard to explain. Introducing the basic
concepts of bitcoin is a good place to start then slowly tackle the benefits and it's
potential components. Social media, youtube and websites are useful and informative
sources that might also be insinuated to speed up the process. Keep the conversation
simple and encourage questions. Be patient, positive and expect nothing.

Whenever i explain btc to others, its not really easy especially to those who have not yet knowledge on bitcoin. But the first thing we should do is teach how to start invest and sharing our knowledge, but if people who are really interested they can easily learn. I think its better also to tell them that they should be a patient to do research always so that it can make help to improve their knowledge abut bitcoin.

Try to use the simplest words and comparisons. If you know blockchain technology pretty well, draw a scheme and show it to your co-worker. You can offer him to watch one of YouTube videos for a newbie, for instance this one:

https://www.youtube.com/watch?v=2X9eJF1nLiY

To explain bitcoin values, I think they have to first cover the beginning of the coverage in the basics of cruptocurrency on what it is and what the value represents. It is important that we don’t over hype the cryptocurrency to people and show then what it really is on a broader soectrum that they can comprehend easily and understand which is better in the long run when they decide to jump in

The value of a cryptocurrency is defined as the value of any other commodity that can be exchanged. Everything depends on demand and on supply. While the number of people wishing to buy grow more rapidly than rates of mining, the price is growing.

Not to generalized all, There are already institutions, corporations, businesses, and Government that already accepted cryptocurrencies. Though some (or most) of these countries set prohibitions in doing transactions using cryptos.



As a senior member of my current work, Some of my subordinates do ask for an advice on how to earn extra income or some sort money related inquiries. Since base from my past experiences in handling such cases, I do first check if they really are interested in what will I discuss with them. I normally start with this "Do you or do you not have any idea about cryptocurrencies, especially Bitcoin?" if they reacted negatively to it then I will not continue, Don't push someone to like what you like. If they reacted positively then, I'll show them first what normally to expect. From then on, I'll explain it the way, my mentor explains it to me with additional thoughts based on what I've already experienced and learned from this industry.

Spoonfeeding would literally my style of teaching like a teacher-student way of explaining. What I've said or taught are just guidelines, It's up to them to generate their own strategies and discover things on their own in this industry.

  :)  To explain them is very easy. The first thing you need to mention is its benefits. Do not say harmful things, it will only show that people do not want to participate.
Show them what you got after participating in ICO projects on the bitcointalk forums and how profitable it was in the past five months. They need to see the benefits of bitcoin and they will automatically take the time to learn. simple.:)

Once was asked to explain what bitcoin was. Just suggested they watch the "Banking on bitcoin" documentary. I think on the basic level it explains what bitcoin is pretty well.

IMO (& that always worked for me), always start by explaining the underlying technology; i.e. blockchain and how it helps achieve the required decentralization, trust...etc (not only for Crypto Currencies but for all other industries as well)
Then move directly to BTC and how it is the king of the Crypto Currency world that has been there for approximately 10 years now, how it's gaining interest and attention from thousands of folks every day, how it's the base for all ALTs out there and so on....

How I explained it to friends and co-workers, I used FAB; talked about it what is Bitcoin, its features - what it does and how it works, next is its advantages - its technology and how it is better that the ones that our governments and banks are using currently.  And the last but not the least, its benefits - how it will give them great profit, financial freedom and more. Hope this helps.

Not really a good idea, if you do that then people will have a distorted vision of the market thinking that making money is easy and there is no way to lose, then when they lose and they will lose if they have that frame of mind then they are going to blame you and bitcoin for what happened and instead of creating a bitcoin user you will create a bitcoin hater.

I think all you need to do is explain what Bitcoin does and it's entirely up to your co-worker if he finds value in it.

 let him trade it on paper as i did with stock market.

I guess you wanted to say which isn't backed by a corporation or government.
How much money? The value of a single coin doesn't mean anything. It can be $1000 or it can be $10000. When you are putting 100$ in BTC you are putting 100$ in BTC. That's all there is to know. Depending on the current rate you may get 1k satoshi or 10k satoshi or any other number. Once you make them understand it the tone of the discussion will change, but most people find this very hard to grasp.

well you can start by explaining the blockchain technology first, it`s benefits and the difficulty of hacking. After this phase explaining the value of bitcoin and miners would be easier in my opinion.

Bitcoin price is determined by the market, when Bitcoin supply in the market is less, Bitcoin price will increase, and vice versa if Bitcoin supply is on the market more, Bitcoin price will be cheaper. why the price of Bitcoin is expensive, it's because the supply of Bitcoin is not much.

I would probably explain it based on experience and people who've had success in BTC (and other altcoins for that matter). However, in your case since you said you're fairly new to this crypto currency, it would be best to explain based on what you've learned so far. The good thing here is, you don't have to explain in an effort to get them to believe what you believe in. It will be more of providing information and educating these people that you talk about. Whatever they do to the information that you provide is up to them.

Sometimes I wonder why this simple idea is not practiced more, you do not need any kind of special equipment or anything, grab a pen an paper and begin to make trades that way, it is not very exciting since nothing is at stake but that lets you test your skills, and it allows you to make hundreds of mistakes without losing any money so it is the perfect way to learn.

When explaining to my co-workers or co-employees about bitcoin I always include its responsibility, since bitcoin is indeed also considered money even if its not physically like cash. People must still be able to properly handle its use. I also remind them that if they improperly used bitcoin to any no good reason they can still be held liable to it. So yeah its always an add on knowledge and lesson when teaching and explaining bitcoins to my office mates.

To do this, you need to install a special program on your computer, and the system will automatically earn money. Satoshi first get on the bonus account, after which the user can translate them once a week to his wallet.