Bitcoin Forum

Fellows, I've been trying to find a good way to explain Bitcoin's functioning logic to people that are not familiarized with this technology, and I'd like to hear from you guys: if you had the task of explaining BTC to someone, what concepts would you highlight the most?  ???

I think decentralization is the most important factor and to explain that you'd need to analyse the block ledger system.
It's lack of control.
It's immutable data
The function and usefulness and miners.
The speed and cost of transactions.
It's neutrality and open source codes.

Probably saying as a virtual money which you can send and receive in a matter of time. This is the best way to explain it to unfamiliar persons and also this concept might be the best way in order to explain it (according to my opinion) since it's the use of the bitcoin isn't?

Most people are still confused by the 'decentralized' nature of bitcoin, so in order for them to be more curious, I'll just say that there isn't a central authority issuing bitcoins, unlike the money that they are using today. So, this would be what I'll tell them: Bitcoin is digital money, but unlike your 'real' money, no central authority issues it, just a group of people with the hardware capabilities to 'mint' new bitcoins by solving complex puzzles. They'd be more interested on the "no central authority" phrase rather than "decentralized" trust me.

Bitcoin mining is a gray area to newcomers on the network,and even those who've been on the system for a while,its not so easy to understand how bitcoin mining works
So if I'm to talk to someone about bitcoin's functioning,i suppose the first question I'll be asked is how are bitcoin transactions confirmed,how can I purchase bitcoins..
Which inevitably will lead to explaining bitcoin mining,as this stage were bitcoin transactions are confirmed by miners,and this miners confirm this transaction by solving a cryptographic puzzle,and the first miner to solve this puzzle gets rewarded with bitcoins and/or transactions fees, and the transaction gets moved over to another block,till the block confirmations are complete

But also to take note that once the transaction has been confirmed by one miner(one block confirmation),such transactions cannot be undone

It is Decentralised implying:

1. that you get the tasks (transactions) done yourself and do not need anyone or agent to approve it before it's been confirmed. Thus making you, your own boss.

2. It cannot be hacked since no central system is available to be attacked.

The only thing I highlight the most using this crypto called (btc) is that way back 2013 i can't sent files over the Internet and receive money luckily i found bitcoin, bitcoin was the first peer to peer network that i trust for sending money it saved me lot of waiting line and hours of filming by that i can simply transfer the files and receive the payment via btc.

I would say that "you can be your own bank". I think people will be curious about that one and maybe you can strike few conversations about bitcoin and the rest of cryptoverse. There will be questions no doubt, but you need to explain it at least in layman's term like decentralization, blockchains and of course wallets and privatekey. But its a good ice-breaker and attention worthy. I have tried this once while me and some of my neighbours were just sitting one afternoon and the discussions/debates/arguments went on till the early morning.  ;D

I would have to say that one of the best concepts of btc that it can offer to the people is your capital investment with good marginal profit and a faster payment transaction it can offer. BTC can offer high return of investment in due time if invested in longer period once it could pump high in the market. Btc  being a digital currency is the first ever digital currency to make it more useful to people where it can make transaction peer to peer without any third party to work with the transactions.

I'll highlight these features of bitcoin;

- an alternative to PayPal and other payment processor
- cheaper fees
- fast confirmation
- decentralized
- an investment itself
- you hold your own money

Long story short, it gives you the possibility of being your own bank with may more efficiency and it's much cheaper.

Candidly speaking mate, the very best explanation i can give when ask to explain Bitcoin thus will be:
Bitcoin is very cheap and efficient in transactions process.
Bitcoin be the mainstream manifestation of the Blockchain. 
Methods of buy and sell of Bitcoin with ease on exchanges.

Explain that bitcoin is an online transaction tool, so everyone must be able to mine to get bitcoin so that it can be used for transactions via the internet. Nowadays internet technology has expanded and many people can get involved in the internet.

I will highlight the fiat inflation compared to Bitcoin. I also emphasize the government and the banks that controls our transaction everytime we send or receive the money. I also tell them that your money is controlled by banks and not by them when they put their money in the bank.

The most important features or characteristics that I have see and understand is decentraliziation!  Bitcoin is decentralized and that makes me and you to become our own bank.  Humanity has never had this type of technology before were I can pay for goods and services without a third party knowledge.  This is the most beautiful thing that has happened in this generation.
Bitcoin through it decentralized nature also provide freedom as the governments has no control over our financial activities and systems and our financial destiny is not going to be controlled by governments laws but by mathematical laws and technology.

When explaining bitcoin to someone who didnt previously know about it i always pointed out the fact that bitcoin users are in control of their own finances, no middleman needed when sending funds to someone else.
I always have to point out bitcoins security and how it has never been hacked.

This is a great way to explain bitcoin to anyone new to it or basically anyone who is not yet familiar with it. I'm going to use this! Thanks.

I remembered how, a few years ago, my friend explained to me what bitcoin is, then I was most concerned about the question of what bitcoin gives me, I think that today it is very important for all newbies.

I’d highlight these bitcoin features:
-Bitcoin working under the blockchain technology, which is decentralized in nature.
-Compared to other virtualized transactions such as PayPal or credit card payments, Bitcoin comes with a lesser transaction fee
-Currently, hundreds of merchants accept Bitcoin payments. People are more familiar Bitcoin more than the other currencies.
-Privacy and anonymity
-Its scarcity makes it precious

Cheaper and faster transaction: Suppose, you are trying to send money to someone abroad, then fees will be mere cents and money will be sent in few minutes, plus no legal hassle as well.

I was having the same problem too and what I did was gather some tutorials from youtube, Vimeo and Dailymotion and also did some "How to do  it step by step videos"  of my own with the help of my girlfriend and put them in a file which I send to noob people who are getting started in the Bitcoin world. I strongly recommend you do something like this since explaining over and over again it is exhausting and annoying plus you could forget important details

One thing that makes it interesting to be accepted is about the price of bitcoin, a concept that is able to make a big concern for the laity. I think by explaining the usefulness and value of bitcoin it will be one thing that will be of interest to many people.

I think if you want to explain bitcoin to someone and you want to get him/her in the cryptocurrency industry the most attractive way is that you will tell that people that this might be the future of all currency and let him/her know that he can earn profit from this by just holding a share then explain how and why..

In explaining bitcoin I always give a highlight about achieving in everyone's dreams and goals. I know that it might be weird my point of view but I think this is reality. I will do that because I know when they realized that bitcoin can helo them and serves as a bridge to make their dreams  comes true they will be motivated to work and invest hard to bitcoin. I also give some highlight to the convenience benefits of bitcoin in terms of purchasing and even in terms of investing. But I think even you give a very informative explanation when the listener is not open minded this will be useless.

Bitcoin is a decentralized currency that can be applied with a high degree of reliability in an untrusted environment, such as Internet. With the increasing popularity of this coin, no third-party forces can influence its course, and it will become a truly fair payment asset.

there are more than 4000 decentralised cryptocurrencies why should the world invest into the one that wastes 1% of the worlds electricity?

A decentralized and secure payment system that enables a fast,  cheap and reliable method of making payments regardless of geographical position and regulations. With a publicly viewable,  yet immutable ledger that keep records of all transactions that run on its network.

A detailed explanation of how bitcoin  is transacted between two parties is very important, furthermore try to highlight the instability of the price with cogent reasons because some people will assume that it is a HYIP or ponzi scheme thus no go area for them, while it is important to practilize how to use bitcoin will further convince them.

I will highlight its decentralization and anonymity. when explaining about bitcoin, I think decentralization and anonymity is what make bitcoin so special and convenient.

I think financial freedom is the most important, because Bitcoin knows no borders and you can shift money between countries with zero restrictions. You can also do business with whoever you want to and no Bank or PayPal can tell you what to do with your own money.

A lot of people only realize these advantages when they are blocked by Banks or PayPal or when they want to transfer money to their friends and family and they are stopped by their government. <Governments do not like it when money flows out of the country, because it weakens their economy.>  >:(