Next Thursday I will have 20 minutes to present bitcoin to 150 businessmen/women

[yoyoceramic]

If you had 20 minutes to present bitcoin to a room full of professional businesspersons, what would your MAIN POINT be?  In otherwords, what would unify your entire talk?

I am a member of the Las Vegas Rotary Club, and next thursday I am slated to give the program.  It usually runs 20-25 minutes. 

The audience is probably 60% male, 40% female, with an average age of 50 I would say.  Many are small business owners, others are lawyers.  Most have smartphones.  If I say "torrent" or "cryptography" or "peer to peer" I can guarantee they will not be coming to terms with what I'm saying.  I will have access to A/V etc..

So, I need your advice on what the main point should be to the presentation, and what sub points you think would be effective.  Catch me on here or on #bitcoin-otc.

Mark

[Lethn]

Governments will have to ask permission the next time they want tax money from them

[yoyoceramic]

Haha, very true.  I want to play the "credibiltiy" factor up high.  I think what may be effective in this regard is letting them draw this conclusion themselves. 

[notig]

i'm just throwing these out there... but if I was going to discuss bitcoins with anyone (business or not) I'd probably focus on the mostly legal stuff first

#1 Bitcoin is naturally more attractive to merchants since they won't have to worry about fraud. It might also incur less fees than a credit card would since merchants pay several percent to credit card companies. That right there is pretty awesome.

#2 businesses can accept bitcoins without even "touching them" .

#3  I have to go to work I will finish this later

[yoyoceramic]

Thanks for these thoughts.  I'll look forward to what else you have to share.

[justusranvier]

I would emphasize the ability to safely accept payments from customers anywhere in the world without the requirement to deal with PayPal.

[cypherdoc]

just don't do an Amir Taaki.

[cypherdoc]

bitrebel:  congrats on your efforts to spread the word.  you know i'm a fan of yours right?  but i have a few suggestions the next time you appear on Alex's show.

1.  don't talk about mining.  its confusing.
2.  don't talk about the blockchain.  its even more confusing.
3.  say that bitcoin is "digital gold".  that'll definitely make them sit up.
4.  say that only a fixed number will be issued and then NO MORE.
5.  say that since its digital it can be instantaneously transported across borders w/o detection.  they'll immediately realize the implications of this.
6.  don't say anything about "cryptocurrency" or "cryptography".  this makes it sound like bitcoin is trying to hide something along the likes of Silk Road and other illegal activities.
7.  say that bitcoins are secured by "advanced mathematical algorithms" that prevent counterfeiting.  sounds impressive.
8.  try to avoid saying anything about Satoshi since an unknown character brings to mind a shady type character or hidden agenda.
9.  do explain that the decentralized or "spread out" nature of bitcoin computers makes it indestructable to gov't or Fed intervention.    they'll like that.
10.  when they ask what its denominated in say that bitcoin is a currency UNTO ITSELF and "floats" in value against other fiat currencies like the USD but bitcoin is in fact NOT a fiat currency.  you might mention that you think that bitcoin will become the gold std against which all other currencies will be measured.
11. i wouldn't recommend newbies go to forum.bitcoin.org especially with all the trolls we've been getting there recently.  the best place for them to go to learn about bitcoin is bitcoin.org which explains all the facts and has references.

love ya man.

[yoyoceramic]

bitrebel:  congrats on your efforts to spread the word.  you know i'm a fan of yours right?  but i have a few suggestions the next time you appear on Alex's show.

1.  don't talk about mining.  its confusing.
2.  don't talk about the blockchain.  its even more confusing.
3.  say that bitcoin is "digital gold".  that'll definitely make them sit up.
4.  say that only a fixed number will be issued and then NO MORE.
5.  say that since its digital it can be instantaneously transported across borders w/o detection.  they'll immediately realize the implications of this.
6.  don't say anything about "cryptocurrency" or "cryptography".  this makes it sound like bitcoin is trying to hide something along the likes of Silk Road and other illegal activities.
7.  say that bitcoins are secured by "advanced mathematical algorithms" that prevent counterfeiting.  sounds impressive.
8.  try to avoid saying anything about Satoshi since an unknown character brings to mind a shady type character or hidden agenda.
9.  do explain that the decentralized or "spread out" nature of bitcoin computers makes it indestructable to gov't or Fed intervention.    they'll like that.
10.  when they ask what its denominated in say that bitcoin is a currency UNTO ITSELF and "floats" in value against other fiat currencies like the USD but bitcoin is in fact NOT a fiat currency.  you might mention that you think that bitcoin will become the gold std against which all other currencies will be measured.
11. i wouldn't recommend newbies go to forum.bitcoin.org especially with all the trolls we've been getting there recently.  the best place for them to go to learn about bitcoin is bitcoin.org which explains all the facts and has references.

love ya man.

Great stuff, thank you for this!

[Zomdifros]

It's hard to overstate the significance of Bitcoin. You could begin with saying that for the first time in history, a global currency has been invented which can cross all borders worldwide, makes payment as easy and cheap as sending an email, yet isn't controlled by a single government or institution. Although the concept of completely digital cash is a few decades old right now, the invention of the blockchain solves practically all problems earlier forms of e-cash faced.
 
This opens a few doors. Transferring money over large distances at low costs can be a huge catalyst for future economic growth. Global payments online suddenly become much easier. People no longer have to trust a central bank not to print too much money or the government not to seize their assets.

For businesses right now it's easy and cheap to use Bitcoin. If they're afraid to lose on exchange rates, they can instantly convert them to USD or whatever currency they prefer. Accepting bitcoins is completely legal, as long as they're honest on their tax reports on them.

[phatsphere]

if you use the word "decentralized", expect that nobody understands it. even if you explain it in a few sentences and tell them, that this means it cannot be shut down, they will not understand you. trust me ... the concept behind this word is way out of reach for these folks. good look finding a good analogy!

[cypherdoc]

sorry to keep throwing up my own stuff but here goes.  it does dovetail with what i recommended above as well:

i have to say i see it quite differently.

i think it was a very poor talk.  all she did was give a superficial historical review with a heavy slant towards the negative events over the last year including her own mishap with MyBitcoin.  she showed no understanding of the economics behind why Bitcoin was created or how it fits into the financial crisis of the last 4 years.  she even had the gall to say she understood Bitcoin better than most ppl in a previous video interview with that other supposed financial expert who's name escapes me.  David Birch.

its high time we get someone who is articulate and has a deep understanding of the corrupt financial world into which Bitcoin is trying to insert a viable solution.  

if i were to give a talk on Bitcoin i would spend 75% of the talk emphasizing the mess we're in with central banks printing money all over the world in an attempt to stop the debt deleveraging deflationary spiral.  i would throw up pictures of M2 and debt/GDP ratio and how they started their upward parabolic moves in the 1970's when we went off the gold standard.  i would then throw up a graph of the asymptotic Bitcoin issuance curve contrasting their shapes.  i would talk about how gold has always been real money backing fiat paper and how Bitcoin is digital gold.  i would put up a 100 yr graph of the declining value of the USD and overlay that on top of the Dow and debt levels.  i would throw up a non log graph of the last 100 yrs in the Dow and show how we have peaked and are in a frightening massive head and shoulders formation over the last 12 years with a projected line straight down the shoot over the next decade.  i would throw up a graph showing how Obama has doubled the national debt in just 3 yrs.  i would throw up a graph of declining housing prices and how this correlates with decreasing household wealth.  i would go over the 2007-08 crisis and how it began and why.  i would explain how Geithner, Bernanke and Hank Paulson broke the rule of law and bailed out crony banking institutions and AIG.  i would emphasize that not one banker who caused this whole mess has gone to prison.  i would explain that 0.01% of the US population owns a counterfeiting ring that only they can tap into and every USD they print devalues the other 99.99% of the populations's USD's.  i would throw up a graph showing why this very phenomenon has resulted in the tremendous wealth disparity of these ppl to the rest of us.  i would go over the European sovereign debt issue and explain that banks all over the world dumped their bad debts onto gov'ts and are pushing them into default as we speak.  

for the rest of the 25% talk i would only insert the basics of Bitcoin into key selected points staying away from the technical side and showing just why Bitcoin would solve a particular problem.

this is just off the top of my head.  sorry for the rant but listening to her made me puke.

[yoyoceramic]

No, No.... keep it coming.  I need all the advice I can get.  This advice resonates heavily with the approach I am thinking of taking.  Discussing the attributes of quant/fiat money first, then introducing bitcoin, and closing with practical, real-life success stories of bitcoin.  Staying away from the technical side as much as possible.

sorry to keep throwing up my own stuff but here goes.  it does dovetail with what i recommended above as well:

i have to say i see it quite differently.

i think it was a very poor talk.  all she did was give a superficial historical review with a heavy slant towards the negative events over the last year including her own mishap with MyBitcoin.  she showed no understanding of the economics behind why Bitcoin was created or how it fits into the financial crisis of the last 4 years.  she even had the gall to say she understood Bitcoin better than most ppl in a previous video interview with that other supposed financial expert who's name escapes me.  David Birch.

its high time we get someone who is articulate and has a deep understanding of the corrupt financial world into which Bitcoin is trying to insert a viable solution.  

if i were to give a talk on Bitcoin i would spend 75% of the talk emphasizing the mess we're in with central banks printing money all over the world in an attempt to stop the debt deleveraging deflationary spiral.  i would throw up pictures of M2 and debt/GDP ratio and how they started their upward parabolic moves in the 1970's when we went off the gold standard.  i would then throw up a graph of the asymptotic Bitcoin issuance curve contrasting their shapes.  i would talk about how gold has always been real money backing fiat paper and how Bitcoin is digital gold.  i would put up a 100 yr graph of the declining value of the USD and overlay that on top of the Dow and debt levels.  i would throw up a non log graph of the last 100 yrs in the Dow and show how we have peaked and are in a frightening massive head and shoulders formation over the last 12 years with a projected line straight down the shoot over the next decade.  i would throw up a graph showing how Obama has doubled the national debt in just 3 yrs.  i would throw up a graph of declining housing prices and how this correlates with decreasing household wealth.  i would go over the 2007-08 crisis and how it began and why.  i would explain how Geithner, Bernanke and Hank Paulson broke the rule of law and bailed out crony banking institutions and AIG.  i would emphasize that not one banker who caused this whole mess has gone to prison.  i would explain that 0.01% of the US population owns a counterfeiting ring that only they can tap into and every USD they print devalues the other 99.99% of the populations's USD's.  i would throw up a graph showing why this very phenomenon has resulted in the tremendous wealth disparity of these ppl to the rest of us.  i would go over the European sovereign debt issue and explain that banks all over the world dumped their bad debts onto gov'ts and are pushing them into default as we speak.  

for the rest of the 25% talk i would only insert the basics of Bitcoin into key selected points staying away from the technical side and showing just why Bitcoin would solve a particular problem.

this is just off the top of my head.  sorry for the rant but listening to her made me puke.

[yoyoceramic]

I will be posting my writeup for the bulletin that is distributed to everyone's seat shortly....  I'd love everyone's advice on it.

[Prattler]

if you use the word "decentralized", expect that nobody understands it. even if you explain it in a few sentences and tell them, that this means it cannot be shut down, they will not understand you. trust me ... the concept behind this word is way out of reach for these folks. good look finding a good analogy!

Decentralized as in gold. No goverment issues gold, it's just there. Governments can mine and regulate it, but they don't issue it.

Can someone find a better analogy?

[EndTheFed321]

If you could explain to the merchants how can bitcoin be converted to USD?

And how difficult or easy that would be to them.

Now if merchants and suppliers where to accept bitcoin that would be

a game changer 

[cypherdoc]

No, No.... keep it coming.  I need all the advice I can get.  This advice resonates heavily with the approach I am thinking of taking.  Discussing the attributes of quant/fiat money first, then introducing bitcoin, and closing with practical, real-life success stories of bitcoin.  Staying away from the technical side as much as possible.

THIS.

i also disagree that its hard to explain decentralization.  i usually start by giving the example of how Netscape's doors got kicked in and servers seized.  then i explain how geeks developed Bittorrent and how hundreds of thousands of laptops all over the world have replaced the servers b/c average ppl are essentially expressing their vote as to how they wish to behave.  

it doesn't matter if you're one of the 0.02% elite; you can't forcibly change the minds of the other 99.98% when they're free to communicate over the Internet and you don't have the manpower to do so.

[Zomdifros]

Also, it wouldn't hurt to mention that Bitcoin gained 100% the last couple of months. I'm sure there are some greedy bastards in there who can't wait to get their hands on some coins. And it would show confidence over the stability of the whole project is rising rapidly.

[phatsphere]

Decentralized as in gold.

it's a good one, but it falls short in terms of mining. you need to be a large company, possibly bribe a 3rd world country to get a stake in their ground, ........ and last but not least, there are also just paper-certificates "guaranteeing" you some gold in a vault. it also doesn't cover the robustness and security of the network itself (because it's not necessary for gold).

it's just "similar" in some regards, but don't say "it's a digital form of gold. period."

[yoyoceramic]

Ok all, if you could please comment on how this short "Bio" can be improved or altered please let me know!  I really want to present bitcoin as a credible, viable tool for small business owners and persons.  I need to send it to the printer today.  As a reminder, this is what will appear in our weekly newsletter that is placed at each person's seat before lunch.

Mark Russell is a hobbyist trader in the emerging, web currency called Bitcoin.  Mark has been involved and active with the Bitcoin markets since early 2011.  He believes Bitcoin will be the most disruptive technology his generation will see in the area of digital commerce.  

Bitcoin is a non-political, online, digital currency that is brought into existence at a fixed and predictable rate.  A limited number of them will be issued and then no more.  This means that unlike traditional currencies which are created by central banks and governments, the value of Bitcoin cannot be destroyed by inflation, nor can it be physically confiscated.  There is no entity or group of persons which have rights or title to Bitcoin; there is not a Bitcoin building nor is there a Bitcoin corporation.  Bitcoins are secured by advanced mathematical algorithms that prevent counterfeiting.  

These features mean that any business can accept payment from a customer across the globe at a zero cost without having to rely on a 3rd party payment processor.  In November of 2012, Bitcoin made headlines across the web after the world’s 20th largest website, Wordpress, began to receive Bitcoins as payment.  Several months ago Iranians began to flock to Bitcoin as the value of their currency went into total free fall.  

Bitcoins may be used to purchase anything from flat screen televisions, to music, to webhosting, or pizza.  Any person with a smartphone or computer can send and receive Bitcoin without needing to trust a 3rd party such as a bank or credit card company.  In this sense, Bitcoin is purely democratic.  This “spread out” of “decentralized” nature of Bitcoin makes it indestructible by governments or Federal banking intervention.  

In Las Vegas already, there are auto mechanics, realtors, handy men, hospitality services, and other successful business that accept Bitcoin.  Companies such as these have the option to use local exchangers or online services to convert their Bitcoin to USD.  As Bitcoin continues to be adopted, it will be seen as a currency in its own right against which all other currencies will measure their value.  At the time of this writing, 1 Bitcoin is equal to appx 23 US Dollars.  To learn more about Bitcoin or to start receiving and sending them, visit blockchain.info or coinbase.com