What is bitcoin

[kuyaJ]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

i think you can say is "bitcoin is the money that you can earn or a true money". In that case he/she might curious so he/she get search on how to earn bitcoin.

[tobatz23]

Bitcoin is a form of digital currency created and held electronically. No single entity controls it and aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world using software that solves cryptographic problems. Bitcoin is the first example of a growing economic industry known as cryptocurrency. It can be thought of as cash for the Internet.

[noictib]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

I think you should tell your friend about the bitcoin  in that way as he needs much .
If you friend needed much money in his life then you should tell him that bitcoin is that way of making money which is not easily available with another legit option .
And if your friend is already rich but still want to get into bitcoin then you should say that bitcoin is a way of the payment worldwide and also a better way to make payment secretly and openly because everything will remain open but no one can make sure that who made that payment .
So here a types of the people needed type to type answer .
Here in my nieghbourhood a friend told me to expand , i said him directly that it is a better way of payment and now today he has the business in online to make top-up mobile recharge and another online stuff to make buy sell .
So decide yourself that in which way it will be better to talk with him .

[gadimbrut]

Bitcoin is a virtual currency developed in 2009 by someone under the pseudonym of Satoshi Nakamoto. This currency is like Rupiah or Dollar, but only available in the digital world. The concept may be like eGold, though in fact much different, bitcoin is great for short-term or long-term investments, that's what I know about bitcoin

[Baby Dragon]

Bitcoin is decentralized and bitcoin can be used as the mode of payment in some business and also bitcoin can be used to send some funds wherever you are whenever you want,. bitcoin is increasing the value itself,

Well, I agree that bitcoin is decentralized because you can control your own bitcoin and money. Furthermore, bitcoin is a digital money and currency that you may use in different od transaction. I think bitcoin will be our future money and it will become world currency in the future.

[super5star]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

I think you should tell your friend about the bitcoin  in that way as he needs much .
If you friend needed much money in his life then you should tell him that bitcoin is that way of making money which is not easily available with another legit option .
And if your friend is already rich but still want to get into bitcoin then you should say that bitcoin is a way of the payment worldwide and also a better way to make payment secretly and openly because everything will remain open but no one can make sure that who made that payment .
So here a types of the people needed type to type answer .
Here in my nieghbourhood a friend told me to expand , i said him directly that it is a better way of payment and now today he has the business in online to make top-up mobile recharge and another online stuff to make buy sell .
So decide yourself that in which way it will be better to talk with him .

Bitcoin is the digital currency. It is not printed form of currency like Euros and dollars etc is not cash money. It prices vary according to business. It is electronic based money which can be used for trading across the world. This is the reason people are supporting bitcoins because they want an international currency.

[felipe04]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

in my first time i also like that i always what is bitcoin,how can i earn,what i have to do here, at more many times like that so i understand them because bitcoin is hard to know specially if your a 40 ages plus because they didnt have computer in that time or they know about computer but they dont have

[redsun114]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

i think you can say is "bitcoin is the money that you can earn or a true money". In that case he/she might curious so he/she get search on how to earn bitcoin.

Yes I am agree with you that bitcoin is money because qualifies the definition of money in the oxford learner dictionary. I can buy each and every thing in my life and the more adorable thing is the conversion of bitcoin to us dollars or other currencies. Online selling and buying is becoming possible in several countries of the world.

[Ewox]

I would also tell them to google it, it is much easier for them to understand when reading it than me explaining them what bitcoin is. But if ever confronted and ask or questioned what bitcoin is I would tell them bitcoin is the future.

[DoublerHunter]

I would also tell them to google it, it is much easier for them to understand when reading it than me explaining them what bitcoin is. But if ever confronted and ask or questioned what bitcoin is I would tell them bitcoin is the future.

It will become easier for them if you will explain it personally and not by google because in google it is a generalized explanation and if you will have a chance to explain it to them then you can explain it on a simpler manner which they can easily pick it up and they will understand what are your point about bitcoin.

[illicit]

Whenever I got ask about it I would just simply tell them that it is a crypto currency,
And if they still continue to ask I would tell that it is a money in the internet .

[AmeSakibimasu]

I am also lazy to give an explanation about Bitcoin,when people start a lot of questions.I end their questions with answers just search on google...

Sometimes I am like you, I'm annoyed to those people who keeps on asking every single little thing about bitcoin, I hate spoon feeding. People will never make some efforts if we are going to spoil them always. They must know how to be independent and learn things from their own. The other reason behind this is because every time I introduced bitcoin to someone, they just ended up setting it aside after they knew that it is not that easy to do.

[iqlimasyadiqa]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

briefly for me bitcoin is something that has changed my life for the better. bitcoin is a digital currency that is currently used by many people. in addition to being used as a currency, bitcoin has also been widely used as a very profitable investment. many people have become rich because of bitcoin. everyone says that bitcoin is a miracle.

[Hasbro27]

Bitcoin is a virtual currency developed in 2009 by someone under the pseudonym of Satoshi Nakamoto. bitcoin can be said in digital currency. and bitcoin is only used on the internet. without bitcoin internet can not be used. that's what I know from bitcoin.

[The Monkey King]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

Bitcoin is a virtual currency or a digital currency. It was developed in the year 2009 by someone under the pseudonym of Satoshi Nakamoto. Bitcoin can really be a good type of investment for people. Tradings, minings can also be done in bitcoin. Bitcoins are more often used through internet connection. I think that without internet, bitcoin cannot be used.

[baedrill]

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.

[Caelanpelley]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

If someone asks me, and they do not know anything about bitcoin. Then I will answer simple. Bitcoin is a currency where you can exploit its value and you will quickly get rich.

[Rasel5209]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

when my friend question me about bitcoin I tell bitcoin is my dream. I have a blog article that description about bitcoin. I give it for learning and if anyone interest it I suggested for goolge search.

[Tanazir]

It is an electronic or digital currency that works on a peer-to-peer basis.This means that it is decentralised and has no central authority controlling it.Like currency notes, it can be sent from one person to another, but without a centralbank or the government attempting to track it.The system depends on cryptography to control the creation of the currency

[iluvpie60]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

Bitcoin is a type of decentralized system of peer 2 peer money. The opposite of a central bank(because we know that central banks int he end ruin everything).


Normally for a bank, they issue you checks, which can be used to make payment to places that accept chekcs. the money is then taken out of your account by the bank and given to the other person.

Bitcoin the same process happens. you setup your bitcoin adddress, fund it like you would fund your bank account, send people bitcoin for services/items. they receieve it. only the big difference is that It is secured by hash power, the hashpower is made up by miners, the miners validate everybody's transactions. Miners keep the network censorship free and secure. banks can do whatever they want with your money and freeze your assests(even if you do nothing wrong it can happen). Banks get hacked and lose money. your bitocin wallet cannot get hacked unless you install bad software.