Bitcoin Forum

I challenge the forum to come up with the easiest to understand explanation of bitcoin in 15 words for Joe Sixpack!

Bitcoin is a secure, anonymous, digital, cash-like currency using an Internet-based transfer system.


The more suggestions, the better here. Don't be shy. Spit out anything you can think of.

Good call. Hmm...

Here are mines.  You can give bitcoins to the one you like :

Bitcoin is a measure unit for a decentralized electronic commodity, whose amount is limited cryptographically.  15 words.
1Ag2MvYKev55EynQGcsXkSohK495m5HAye

Bitcoin is worthless, but at least nobody can steal it.  And this is priceless.  14 words.
1AD89UiiCsdkAhq1BykBvGKfqQzmhmhvrT

After the barbareous relic, here comes bitcoin :  the cypherpunk money.  11 words.
13H4iob9os2W72zwMrXhhVs9X6cmWmn71y

Bitcoin is an electronic commodity, suitable for use as a currency.  11 words.
1Ap31HrGEdxAYYSB3Hf23dM31CpvyqtoRm

Bitcoin is to information technology what gold is to economy.  10 words.
1HRvEsQKdkw2Nk59fVpH2GyoDvseQu7TRa

Bitcoin is a fully decentralized cryptocurrency.  6 words.
1Gii4FT42y65VLBwCy8kknEn6WxdA6y52F

I think you exceeded the 15 words limit.

that was a first draft.  I edited it.

Bitcoin is a measurable, decentralized digital commodity, used for p2p transfers, trading and electronic purchases



Used some of the examples already given above to help.

"Bitcoin = cash, no IRS"

4 words :D

Guys, try not to use words that the average Six Joepack may not understand.

Like this:

Bitcoin is a digital commodity that can be used for commerce and bartering.

My vote goes for this.

Bitcoin=Porn Privacy


 :D

I like the Bitcoin = ... ideas.   Focus on the WHY, not the what or the how:
   http://www.ted.com/talks/view/id/848

Bitcoin is to legal tender as torrents are to copyrights!

Could someone explain the US dollar in 15 words or less to me?

The dollar is a warehouse receipt for gold. The gold is gone, sorry about that.

Love it!  ;D

Bitcoin: Absolute privacy and security in the form of financial transactions

Bitcoin: Generating privacy a coin at a time

Bitcoin believes in giving you financial power where a bank strips those freedoms away

Bitcoin. Because our financial security shouldn't rely on a third party, online or off

(Conquer the crash with) Bitcoin: The highest level of financial security to preserve your wealth.

You guys are awesome. I think the next step is to offer a prize of some kind for the best bitcoin phrase that accomplish the goal of this thread.

Bitcoin is a Neal Stephenson plot device.

Courtesy of a tweet:

Browsing http://www.bitcoin.org/ - it reads like a Neal Stephenson plot device. #fb - Paul Wright http://twitter.com/wrighty

lol that deserved a retweet.

"Bitcoin is honest, peer-to-peer money"

Or, for those who don't think Bitcoin is currency,

"Inflation is coming. Bitcoin barter tokens are the alternative."

"barter tokens" is a good way to express it.  Nice.

(You can ignore me, it's OK).

Bitcoins are possibly illegal tender you can use to evade taxes and fund criminal activities.
Bitcoins are another reason for the Feds to raid your home.
Bitcoins are like having your brains smashed out by a slice of lemon, wrapped 'round a large gold brick.
Bitcoins make you go, "hmmm."
Bitcions: 15 minutes could save you 15% or more on your car insurance.
Bitcoin is not your daddy's currency.

Buy Viagra with bitcoins and find out what hard currency really is.

 :D

That's another way of calling it a currency.

I thing this whole attempt to boil Bitcoin down to a soundbite is futile at best, and potentially counterproductive.  Bitcoin doesn't require advocacy.  That will either lead to a bubble or to the early notice of governments.  Tell your freinds and family what you found, tell them what you think that Bitcoin is, and let them decide for themselves.  Get on with your own Bitcoin economy and stop trying to "talk your book".

Bitcoin: money For the People, By the People. Not the Elites.

(eleven words-- eleven is my favorite number!)

Bitcoin - because You don't need government to tell you when & what you can trade.

Fixed that for you.

Actually, I think You got that right.

Bitcoins are insignificant. You should give yours to me.

Bitcoins are a scam, I'll buy you out for a 50% loss.

bitcoinporn

 


wow...a porn search that returned no results. Can you believe that? Oh Wait...now this post will show up  :D

It's obviously two words, and that gets results, though not particularly good ones.

Bitcoins are a way to trade without intermediary on the Internet

"PayPal sucks. Bitcoin sucks less."

"PayPal sucks. Bitcoin sucks less." by several orders of magnitude and then a little more.

15 words.

Spinal Tap?

We are philatelists (http://en.wikipedia.org/wiki/Philately), only that we collect signatures :-)

Just learned a new word. Thanks.

Using new P2P technology and heavy duty cryptograpy, Bitcoin distributes the accounting of value across a network allowing for instant transfers.


Imagine if every time you spent or received money, it had to be confirmed (albeit anonymously) by everyone around you that the transaction had occurred.

Now imagine you had freely available open source software that connected to a network that facilitated this validation, enabling rapid transfer of measures of value all over the globe via the Internet.  That, is bitcoin. 


The Bitcoin system is a reputation engine of value where everyone who joins the network vouches for the amount of bitcoins in your wallet.

I think you guys all overestimate Joe Sixpack's level of familiarity with economic/technical/anarcho-capitalist/crypto lingo.  Here's my shot:

Bitcoins are cash that you store on your computer instead of in your wallet.

Or, breaking the 15 word limit but a little more detailed:

Bitcoins are cash that you store on your computer instead of in your wallet.  They're impossible to counterfeit, not controlled by any one person, and can be sent like email to anyone in large amounts or tiny fractions, for free.

sincerely,
eMansipater

Bitcoin is a debit card. USD is a credit card with an interest rate.

Bitcoin is a crypto-currency, cash controlled by mathematics instead of greedy bankers.

I get what you're saying, but I don't think the layman wants their cash controlled by mathematicians either. Nor does the layman want the burden of learning what a crypto-currency might be. How about:

Bitcoin is a currency controlled by you instead of by a greedy wunch of bankers.

Not mathematicians! Mathematics. I would especially like to think most would want their currency controlled by mathematics. It's well proved and trustworthy when it comes to numbers. ;)

More and more people (even not computer savy) are learning about cipherspace. Why not crypto-currencies? Didn't say it would work this week, but people learn new terms all the time.:) For now it could be skipped though, for one tagline.

Bitcoin is a Internet-based currency, controlled by the rules of mathematics instead of greedy bankers.

Sure, I did read your description correctly. But for the layperson, the interpretation is likely to be "if something is controlled by mathematics, it's controlled by mathematicians".


I still think the layperson is only interested in currency that is controlled by themselves.

I dont think any currency ever will be. Direct trade, two pigs for your cow is the only form of exchange controlled by one person. Just my thoughts.:)

Online Gold

This is one of the best and foremost simplest expressions.

The only question to that is how to avoid confusing people with e-Gold and alikes?

perhaps:
ONLINE WEALTH

Bitcoin has the economic security of sound money, like gold and silver, yet in a convenient digital form.

+1

There's an app for that!
  http://witticisms.witcoin.com/witticism/24/Bitcoin-in-15-Words-for-Laymen

Or, at least there will be, when the compensation for upvoting is in place on Witcoin:
  http://bitcointalk.org/index.php?topic=2516.msg42124#msg42124

but now that just sounds like an advertising slogan, that even your average joe sixpack will identify as propaganda.

Mathematicians don't control mathematics.  They only study it.

There is no such thing as "illegal tender" because bartering is legal.

Bartering isn't legal if you're paying with prohibited vegetation.

It is perfectly legal to create a private currency.

Bitcoin - don't ask don't tell.

Ok, you're right, in very specific cases when something is illegal to possess, buy, or sell, you might be able to consider it "illegal tender" in a way. But there is no legal concept of "illegal tender" and possession of Bitcoin is not illegal.

Bitcoin is a startup economy!

Peoples heads would explode if you could print bitcoins on hemp .

Imagine a modern anonymous digital substitute for cash.  Imagine BitCoin.

Nah, that's just a myth.  Wasn't that on one of those public service videos we had to watch in high school?

There is such a thing as Illegal tender.  Counterfeit dollars or money of any type is illegal tender.

Also, not sure what the courts will decide on this one, but the Liberty Dollar was deemed illegal tender by the FBI. 
There are some interesting laws that were supposedly violated. 

http://en.wikipedia.org/wiki/Liberty_Dollar (http://en.wikipedia.org/wiki/Liberty_Dollar)

However, I don't expect Bitcoin will fall under these laws.

Was the phrase "illegal tender" used in any of the legal proceedings against the Liberty Dollar people?

Counterfeit money is illegal to possess, so it falls in the same category as illegal plants.

Folks, Campaign for Liberty has posted a YouTube video of Ben Bernanke criticizing the Franklin/Dodd Audit the Fed  (http://www.youtube.com/watch?v=1Ia5x8shAV8)bill at The National Press Club 02/03/11.  I think this is a great opportunity to reach out to them and find some new converts for bitcoin, by trying out your "Bitcoin in 15 Words for Laymen".  Note that most of the C4L folk are probably gold bugs, so don't say anything that might possibly insult gold...for example this is what ericfontainejazz wrote:

Bitcoin in 7 words for g6m3rz:

"All your bitcoin are belong to you"

As adoption increases, additional possibilities include:

"All your customers are got bitcoin"

"All your supply are accept bitcoin"

"All your need are accept bitcoin"

"All your competitor are accept bitcoin"

"All your bitcoin are doubled already"

"All your USD is how much bitcoin?"

-MarkM-

Bitcoin - the first decentralized Peer2Peer digital gold standard currency.

Very clever, I like it!

Digital cash

Bitcoin has some attributes of cash, but it is really not that exactly.

Digital cash is rather David Chaum's e-cash, which is based on blinded signatures.

Mint your own coin - Bitcoin.

For a moment there, I thought this was your "Bitcoin in 15 words for Laymen" entry!

Here is my entry..

"BitCoin is electronic currency that is stored on your computer and traded over the internet."

Done. There is no need to know how it works. Just that it's stored on your computer and that you use it over the internet.

Bitcoin is a bank account system where people elect a new bank every ten minutes.


15 words

Bitcoin is the Esperanto of currency.

Bitcoin:  fast, free, permanent transactions with eight orders of magnitude divisibility.

I don't think laymen know what an "order of magnitude" is.

do you hear that sound
the drop of the pound
the dollar declines
these are the signs
we don't want the free beer
FOR AT LAST BITCOIN IS HERE <3

Bitcoin = online currency that you can store, with no central bank to devalue it.

Bitcoin = online, inflation-resistant and secure currency with no server for your government to shut down.

Bitcoin = online, inflation-resistant and secure currency with no server for your government to mess with.

Bitcoin = digital currency that central bankers and governments can't touch/fuck.

And as slogans (directed mainly to precious metals bugs and anarchists/libertarians):

Own the digits in your account, own Bitcoins.

Don't trust the printing press: trade with Bitcoins.

Bitcoin = the online/digital currency that you can store like gold.

Bitcoin = the online/digital currency you can hold.

Get the government out of your pockets, accept and trade with Bitcoins .

Stop financing the government, it can't touch your bitcoins.

Crash the Fed, trade with bitcoins (instead of buying silver to crash JP Morgan).

Bitcoin is digital cash for people who embrace technology yet prefer not to trust bankers and politicians.

Bitcoin allows converted funds to Bitcoin money to be transferred securely to other Bitcoin users.

 A currency fueled by raw anarchistic rage



http://i1097.photobucket.com/albums/g352/kroptofer/bitcoinAnarchy5.jpg
     Above: the exact moment I realized this.

Yes. :D

It is not impossible to tax bitcoins. The fact that they are traceable will make them taxable, unfortunately.

Although Satoshi normally chooses his words very carefully, he did once or twice let his raw anarchistic rage show through, like when he wrote (http://diswww.mit.edu/bloom-picayune/crypto/137059) that with Bitcoin, "we can win a major battle in the arms race and gain a new territory of freedom for several years. Governments are good at cutting off the heads of a centrally controlled network like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own."

That comment earned him a rebuke (http://diswww.mit.edu/bloom-picayune/crypto/137060) from the list moderator:


That suggests this version of Bitcoin in 15 words or less for laymen:

Bitcoin: gives rabid libertarians a new territory of freedom for several years.

BitCoins is a new unique digital commodity voluntarily and openly created by completely decentralized mass CPU power that is of a fixed limited supply, practically impossible to dupe and very easy and potentially anonymously to trade.


p.s.: I think it's a slight mistake to call it a currency and it could be of greatly benefit if we'd all call it a commodity instead.

I think we beat that topic to death.

I think we beat that topic to death.
[/quote]

Sorry I'm new, would you mind pointing me in that direction so I can learn why I'm wrong? :)

There's a search button on the top of the forum.

It's unintuitive that the search button only searches the current sub-forum. A search for "Commodity" from the box above this article won't find the discussion.

Some discussion is here:
Definition of a Commodity & Are Bitcoins a Commodity? (http://bitcointalk.org/index.php?topic=815.0)

Bitcoin is the future, The future is bitcoin. Dont be left out. Its like the internet all over again.