Random guy asks you about this internet money BITCOIN

[staff_1307]

I just tell him what a wonderful kind of earning money.

[asuryan180]

I show him the whole concept around BTC,give him a presentation about it's idea and the whole reason behind it.Also I open a BTC wallet and send some BTC to it and show him how to send and receive BTC,the BTC address and the mining concept also.Then I show him a mining rig and how to secure his wallet so that his BTC is safe.After that I explain to him what a hashcode is.

[mrkevio]

You are anonymous. This is probably the best feature before how easy it is to send and receive money. Being anonymous matters a lot no matter you're a criminal or an innocent. Everybody hates the governments and this is one way to stay away from them. Another great feature is how easy and fast you can earn money with Bitcoin, and this forum is the best example for this feature.

[Cereberus]

1. I will point it to bitcoin.org as a start and tell him to read everything about bitcoin in that website, this will give him a few basics.

2. I will talk about wallets, I will talk real fast, will tell him that the best wallets are hardware ones, he can spend a few bucks to buy one. This will inevitably tell him a few other basics of how bitcoin works ,  the user manual of the wallet will tell him how to set it up, what is a seed etc. He will have a basic explanation here of the seed and it's function.

3. Read a lot on google about bitcoin, watch youtube videos and in the end I will redirect him here in bitcointalk.org and tell him to ask a few questions he may have in the beginning cause people are really helpful and passionate about bitcoin in here.

[Junko]

1. Bitcoin is digital currency with a predetermined fixed maximum amount of bitcoin that will ever be in existence.

2. Bitcoin is decentralized, meaning that no government or central authority directly controls the price/value of bitcoin or the means by which bitcoins come into existence.

3. With a Bitcoin wallet, you become your own bank and can transact business directly with others around the world who have bitcoin wallets and with minuscule transaction fees.

[Sir Alpha_goy]

Bitcoin is a centralized currency that is heavily mined by Chinese mining farms and also price manipulated by Chinese exchanges.

The American creators made most of their money and moved on after 2013 price spike.

They let China hold their bag because they knew that the sheer volume of the Chinese population would keep Bitcoin afloat.

The Altcoin market is like trading penny stocks.

The Altcoin market is controlled by all the American creators that took Bitcoin profit in 2013.

They run most of the successful altcoin trading exchanges.

They also help to inflate the Bitcoin market price by allowing worthless altcoins to pump and dump on their exchanges without prejudice.

Mining Bitcoin = unprofitable for the little guy

Day trading BItcoin = unprofitable for the little guy

Also, if you live in the US prepare to pay the IRS as they recently just ordered Coinbase to hand over user account records for tax purposes.

Hope this helps.

[TreeOfDeath]

its nice question- my younger brother asked me about bitcoin, that what is bitcoin
then i told him that bitcoin is not a country currency but its an currency which is only digital and only available on internet.

and if a guy wants more knowledge about bitcoin then i will straite say him/her that check on google.

[Sir Alpha_goy]

its nice question- my younger brother asked me about bitcoin, that what is bitcoin
then i told him that bitcoin is not a country currency but its an currency which is only digital and only available on internet.

and if a guy wants more knowledge about bitcoin then i will straite say him/her that check on google.

Like a WORLD currency?

I heard that fails.

[Tyrantt]

"It's a decentralized digital currency where people are "mining it, creating it. It's also used for variety of needs."

or maybe

"google it".

[Sir Alpha_goy]

"It's a decentralized digital currency where people are "mining it, creating it. It's also used for variety of needs."

or maybe

"google it".

Federal Reserve System defined:

http://www.investopedia.com/terms/f/federalreservesystem.asp?lgl=no-infinite

The Federal Reserve System (FRS) is the central bank of the United States. The Fed, as it is commonly known, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, DC, the Board of Governors and 12 regional Federal Reserve Banks in major cities throughout the United States.

You see how the definition left out all the scandal?