I'd just say that it's something like an online currency. I'd also tell them they could invest in it, mentioning the meteoric rise in value along with the sharp dips. For in-depth lessons, Google could do a better job than me.

There is no too little or too much initial investment in my opinion. You're an adult, and what you do with your money is nobody's business. If you're wary, which you would be wise to be, then just put in money you can afford to lose. If you like the upward trend, then maybe put in a little more. Just make sure you'd be happy about your decision at the end of the day. Good luck to you!

I appreciate him trying to advance civilization but I don't think this is a good idea. I'd rather live in a country that uses Bitcoins for daily transactions, big and small.

That's great and all, but just keep in mind that that chart doesn't know for certain. Study market trends and keep your eyes on the news.

I don't think it will become mainstream anytime soon. Even if it does, it's going to be a pain to regulate. China banning exchanges kind of suck, but that's a drastic step from one of the most restrictive countries in the world. I don't see that happening in many other countries, especially if Bitcoin goes mainstream. People with actual choices will not take that lying down.

Don't they say that everytime Bitcoin value plunges? It has always been able to recover, so I'm not the least bit worried.

I'd probably try to find out how much they know about it first. If it turns out they do know about it, but have had bad experiences, then there really isn't much I can do about it. If they're fairly ignorant about it, then I'll try to explain its merits and leave it up to them if they want to change their opinion.

I'm on the same boat. I could have put money in years ago but the fearmongers got to me. Thinking about the money I could have earned kind of makes me sad, but it does look like Bitcoin still has a lot of room for growth. So better late than never, right? Cheers and best of luck for us newbies lol.

I'm very new to this community, but I don't think I will ever reach a point where I would want to quit my stable job to focus on Bitcoins. I realize you need a lot of time and dedication to really maximize your earning, but since you pretty much do everything online, it should be very doable on the side. Also, like others have said, Bitcoins and cryptocurrencies in general are still risky. As with everything else in life, putting all your eggs in one basket is rarely a good idea.

I have a stable job, so I plan on keeping everything in my wallet and just buy additional coins every now and then.