The simplest, easiest way to explain BITCOIN to a newb

[streazight]

The simplest and easiest way of explaining bitcoin to a newb? I don't think there is such a thing.

It would all depend on his level of interest and his reaction when you introduced him of bitcoins. I guess the safest approach would be only giving the basic explanation of what bitcoin is, how it is used, and maybe a little bit of why it exists. Then just see his reactions. Ask if he has questions.

[KingTylerVVS]

I usually start out like this, "You know all money are fake right? It is not based on gold anymore and with Fractional reserve banking, it is created out of thin air. You also know, money is already in digital form, right? ..Then I start to explain the digital form of money that are not going through the banking system and which is not governed by anyone, but the people participating in the network.

I am very successful with that, once they get over the fear of digital money. ^smile^

I like this as well.

We gotta think critically and leave out the techno jargon for sure!

[KingTylerVVS]

"Do you know what paypal or western union is? Well bitcoin is just a brand name for a similar payment network. Except unlike those others, bitcoin is not owned by a corporation - it is owned by the people. Also, if you send 1 million dollars through paypal or western union you get charged 10% or $100,000, and likely the funds are frozen forever, if you send it through bitcoin you only get charged 7¢ and the person you send the funds to gets them the same day."

This is a terrible way to explain Bitcoin! You use irrelevant arguments.
Yes, I know what Western Union is, and no, I've never used it. And even if I did use it, I wouldn't use it to send 1 million dollars! I use Paypal, which - unlike Bitcoin - has no charge for the sending party. And in Paypal too, I don't send 1 million dollars. Even if I would have 1 million dollars and wanted to send it, I wouldn't use either one of these companies for it.

For the 7 cents transaction fee: that's barely enough to get your transaction confirmed nowadays. If I go to blockchain.info now, click the last block, and click the first transasaction, it uses $0.83 fee for a 223 bytes transaction worth a few dollars. That's what you need to pay to get priority from miners.
But even better: if I would like to transfer 1 million euro (I don't live in the USA), I can do it by bank. Without any additional charge (I only pay a few euros fixed fee per month for my account).

I pay in shops with either cash (businesses estimate processing it costs a few cents per transaction) or debit card (which is even cheaper for the business than using cash). I recently ordered dinner online using Bitcoin, and my Priority fee was higher than this.

I tried to explain it recently, when I say: "it's a digital wallet" I get the question "but it has to come from an account".
Maybe the whole approach is wrong! People don't need to understand it to use it. Just like almost nobody understands the concept of "money" in general. People think banks lend out money from savings accounts, and banks want people to keep thinking that.

paypal will want you to do business to business if you send too much. I sent my girlfriend money via paypal all the time. But I also had a business giving me daily income last year frozen by paypal, which has cost me thousands.

And having bitcoin go instantly is not always a priority. most businesses trust you when you have just ONE confirmation on the blockchain. I know I would, especially if I saw the person send me the bitcoin from his phone in a peer to peer local transaction. 1 confirmation is enough especially for prior customers.

Your bank must be awesome to only charge a few dollars, but still thats a lot more than 83¢

[Cresciuanto]

i think the most easiest way of getting information about bitcoin is to visit a website or you tube. because there a newbie can easily get all kind of information about bitcoin. he can download and can watch it from time to time.

[coin_gambler]

i think the most easiest way of getting information about bitcoin is to visit a website or you tube. because there a newbie can easily get all kind of information about bitcoin. he can download and can watch it from time to time.

well if you want to learn about it yourself then yes, but if you want to explain it someone then i think i would just tell that it allows you to make some good money over time and thats it

[KingTylerVVS]

i think the most easiest way of getting information about bitcoin is to visit a website or you tube. because there a newbie can easily get all kind of information about bitcoin. he can download and can watch it from time to time.

well if you want to learn about it yourself then yes, but if you want to explain it someone then i think i would just tell that it allows you to make some good money over time and thats it

You are spot on.

I am thinking of writing an article titled:

"The 7 sins of Selling."

YOUR selling point is the sin of Greed. Make the person want money.

The others include:

Pride - be the first to adopt a new currency that will change the world
Wrath - fuck over the banks and corporations
Envy - finally afford that new car you want and make your neighbors jealous (similar to greed)
Gluttony - save 10% at starbucks and any resturaunt that accepts bitcoin or visa (shift visa now has 0% fees for using a bitcoin debit card)
Lust - show lots of hot women wearing bitcoin shirts, or have hot sales agents
Sloth - the perfect vacation is 20% cheaper when bought with bitcoin

See where I am going with that?
Each person has a weakness. Yours is possibly greed (as is mine)

[uname]

i think the most easiest way of getting information about bitcoin is to visit a website or you tube. because there a newbie can easily get all kind of information about bitcoin. he can download and can watch it from time to time.

yeah I think the most simple to teach new users is with video. with video you're not only giving a lesson
to just one user but for all newbie

[StoreBit]

i think it is too difficult to understand newbie while they have no idea about bitocin . actually bitcoin is a world world itself and no one can so easily inderstant it. for understanding it they need a hard work and attention. the tuitor should also be so much trained.

[densuj]

I told to the people who did not knew about bitcoin,  that bitcoin was gold on Internet and we could get it by mining, buying and there are way to get bitcoin as free on faucets. It is my experience and one man who interest in bitcoin. LOL

[danherbias07]

You did hit the bulls eye there. Thag is one good hell of a way to explain it. Many people are sending money through their love ones also from different places and businesses will like this because of the low fee. You did good my friend. I will try it next time.

The mining and other stuff takes it too deep that is why they dont come back after we explain that.

[KingTylerVVS]

You did hit the bulls eye there. Thag is one good hell of a way to explain it. Many people are sending money through their love ones also from different places and businesses will like this because of the low fee. You did good my friend. I will try it next time.

The mining and other stuff takes it too deep that is why they dont come back after we explain that.

Thanks I appreciate that my friend!

Indeed, not everyone cares how airplanes fly nor do they even understand aerodynamics even upon a 17th explanation, lol.

You rock for seeing eye to eye with me!

[Chuzzlewit]

You did hit the bulls eye there. Thag is one good hell of a way to explain it. Many people are sending money through their love ones also from different places and businesses will like this because of the low fee. You did good my friend. I will try it next time.

The mining and other stuff takes it too deep that is why they dont come back after we explain that.

Thanks I appreciate that my friend!

Indeed, not everyone cares how airplanes fly nor do they even understand aerodynamics even upon a 17th explanation, lol.

You rock for seeing eye to eye with me!

I agree, I don't think the masses care about aerodynamics or candies or trading or halving or mining.
All they want is to see something they want, and buy it. If that can be easy then they will be good to go.

[groll]

The easiest way to explain bitcoin to a newbie is through hands on. I will give him same faucet and will teach him how to make wallets transfer satoshi and other things.after he is familiar with the transact that's the time I will explain what is bitcoin. It is easy to understand when you can picture out what is it all about. The best way to encourage a person to learn bitcoins is to let him earn some money through bitcoins

That's what I am doing right now to my kids. I'm teaching them in a way like a game and they enjoy it. At this moment without my aid they would claim at faucets then they will forward their earnings to my wallet. In exchange I will buy them ice cream. It's both fun at the same time educational.

[goinmerry]

Thinking about it. Western Union will be the who will on the brink of dying now.  The thought of it explaining to many people with your idea will open their minds that there is more cheaper way to send money.

[Mayuyu48]

I would to a layman begin with defining it as the currency of the internet.
It's a digital currency that is not controlled by any centralized authority but infact is influenced by the people.
People provide the servers to allow transactions to take place, the transactions too are made by the people.

[Sled]

I will just explain to him that bitcoin is one  of the best kind of money that can only found online because it's safe,fast and low fees
unlike our physical currency and i will also tell to him that it's a bit easier to earn money than in real life. And after that short explanation and he wants to continue creating his own path on bitcoin world then i will start explaining the things that he need like wallet,patience,determination etc.

[romero121]

Nothing difficult, just understand his interest towards learning about bitcoin. If he's truly interested just ask him to go through our entire forum thread. He can understand more than what's needed.

[CasioK]

This is by far the best explanation I have ever seen.
Now, can we actually have those other threads that ask how to explain bitcoins to other people closed.

[KingTylerVVS]

i think the most easiest way of getting information about bitcoin is to visit a website or you tube. because there a newbie can easily get all kind of information about bitcoin. he can download and can watch it from time to time.

yeah I think the most simple to teach new users is with video. with video you're not only giving a lesson
to just one user but for all newbie

I agree if they are in front of a computer. But in public, esp. in buildings with no wifi, you need to have a video on your phone OR have a good elevator pitch.

WATCH: https://www.youtube.com/watch?v=1_W-7hd4T2I

BEST bitcoin video I have seen yet!

[MTBTT]

Thinking about it. Western Union will be the who will on the brink of dying now.  The thought of it explaining to many people with your idea will open their minds that there is more cheaper way to send money.

yeah you do not need a huge cost to send money overseas. you can tell them that bitcoin is better than western union