What is bitcoin

[ashfer]

Well if someone ask me about bitcoins all i got to say is that it is a new form of digital currency which was created and held electronically in the year 2009 by an unknown person or a group or persons using the name sathoshi nakamoto. The transactions in bitcoins are done without help of a third party that is no banks or such things are involved and there are no transaction charges like in the banks and it is not necessary to give real name.It can be used by any person internationally as it is being accepted world wide and there is no fees like in the banks people buy bitcoins as it is one of the best form of investment because the value goes high.Bitcoins can be transferred from one person to other just like sending cash online using mobile phone or computers.Bitcoins are collected and stored in digital wallets which exist on computers or online the wallet is the place where the individual saves and keep their bitcoins,online wallets are often risky as it tend to get hacked.

[Cofee.BLUE]

Bitcoin is a kind of cryptocurrency that is known and famous of all crypto. And it helps to many people that is depending their knowledge to computer. This is earned using computers and knowledge about bitcoin. This is the most and highest value in the crypto world.

[Ajan08]

Bitcoin Advantages:
Freedom in Payment
With Bitcoin it is very possible to be able to send and get money anywhere in the world at any given time.You don’t have to worry about crossing borders, rescheduling for bank holidays, or any other limitations one might think will occur when transferring money.You are in control of your money with Bitcoin. There is no central authority figure in the Bitcoin network.

Control and Security
Allowing users to be in control of their transactions help keep Bitcoin safe for the network.Merchants cannot charge extra fees on anything without being noticed. They must talk with the consumer before adding any charges.Payments in Bitcoin can be made and finalized without one’s personal information being tied to the transactions.Due to the fact that personal information is kept hidden from prying eyes, Bitcoin protects against identity theft.Bitcoin can be backed up and encrypted to ensure the safety of your money.

Information is Transparent
With the block chain, all finalized transactions are available for everyone to see, however personal information is hidden.
Your public address is what is visible; however, your personal information is not tied to this.Anyone at anytime can verify transactions in the Bitcoin block chain.Bitcoin protocol cannot be manipulated by any person, organization, or government. This is due to Bitcoin being cryptographically secure.

Very Low Fees
Currently there are either no fees, or very low fees within Bitcoin payments.
With transactions, users might include fees in order to process the transactions faster. The higher the fee, the more priority it gets within the network and the quicker it gets processed.
Digital Currency exchanges help merchant process transactions by converting bitcoins into fiat currency. These services generally have lower fees than credit cards and PayPal.

Fewer Risks for Merchants
Due to the fact that Bitcoin transactions cannot be reversed, do not carry with them personal information, and are secure, merchants are protected from potential losses that might occur from fraud.
With Bitcoin, merchants are able to do business where crime rates and fraud rates may be high. This is because it is very hard to cheat or con anyone in Bitcoin due to the public ledger, otherwise known as the block chain.

[bitcoinrays]

bitcoin is a virtual currency that can be used to transact online. The form is not like the physical currency and not the currency of a country.

Bitcoin is the digital form of currency and it can be used for online shopping and can be used as investment. Many people are using it for long term investment because it is giving huge profit within no time and this attract people more and its prices are mostly going upward and now it worth 4170USDand that will go up till 6000USD soon.

[sagarnyc]

Bitcoin is the first global, decentralized currency that allows you to send money from one person to another without involving a third party broker, such as a bank. You only need your computer to make transactions because Bitcoin is fundamentally software.

As a decentralized currency, Bitcoin isn’t controlled by anyone. It’s open so that anyone can benefit from it.

You might think that the lack of control could mean chaos, but that’s not true at all. That’s because Blockchain, the technology behind Bitcoin is one of the most accurate and secure systems ever created.

[SonicDoom]

Bitcoin is a kind of business that you should work hard for, to gain money. Bitcoin can be your source of everything, which can also provide your daily needs. It can help you secure your future and family as well. Because its a source of high income. Should just apply hard work and patience to earn the money that you need and the money that you want.

[Heacygg]

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.

Definitely will tell him to google it and after that, I will explain the basic to at least trigger his interest.  I believe information on the site is much precise than what we will explain to them.  Since most of us is not a programmer, nor know the whole information about Bitcoin (majority here just know how to send and receive bitcoin from a third site, I have met people who do not know how to create a wallet in electrum) it is best to advise them to search what Bitcoin is.  It saves us a lot of time and the one looking for an answer will have a robust source of information.

Exactly right, and of course if someone was being interested, it doesn't really mean you have to feed up all the answers he would ask, but probably let him be independent and seek his own answers. Because actually, if you keep on depending into someone it will only lead that you don't have that much knowledge on what you are going through, as for an example, Bitcoin, you need to learn it by yourself and have your own knowledge and understanding about this matter if you are really willing.

bitcoin is a cryptocurrency it is the most safest and easiest way to earn money if you want to earn money in safest and easeyest way than you shuld invest in bitcoins because the prices of bitcoin is getting higher rapidly.

[cutecute]

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 also tell them to google it if they want more information. Honestly it's fucking annoying when people that are clueless start making all these questions. It's going to be easy for them to just start doing some research. I tell them that it's a decentralized currency but it's better used as a store of value rather than a currency because it's honestly pretty stupid to spend your BTC on groceries when you know it's going to go up, similarly to how it's stupid to buy groceries with gold.

What is Bitcoin this is the question that is always asked to me then when I answer them honestly they don't believe in me. So now when somebody ask me about it I’m always say that why don't you google it so you know what bitcoin is, why you don’t make a research so you know all the information and you know how it works.

[Phyton76]

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 website in where you can gain so much money into working with the less of your time and the less of your effort but then gaining so much money im exchange to the effort that you did.

[BitcoinCommodor]

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 website in where you can gain so much money into working with the less of your time and the less of your effort but then gaining so much money im exchange to the effort that you did.

Bitcoin is the digital currency through it you can earn a lot of profit as compare to any other business in the world and as far as the eases are concerned it gives ease to the shopping also as to the transactions of money and to trade across the globe, bitcoin is neutral to everyone and it allow everyone to invest and gain as much as one can.

[Pandacomel]

In my opinion.Bitcoin is a worldwide cryptocurrency and digital payment system.Bitcoin also called as reward because mining of btc .We can also doesn't need to investing money in this .

[Xenrise]

Bitcoin is one of the thousands cryptocurrency existing in this world. It was created so that the double spending would be lessen. It was created by Satoshi Nakamoto. And this coin is created to better future payments.

[Oppang Inamo]

Bitcoin is a cryptocurrency that is the most popular and most famous in all the crypos ever appeared, this bitcoin helped many people and make them confident in money thats why more people were investing in bitcoin. And in every single day bitcoin is rapidly increasing in terms of value. And another fact bitcoin is made by satoshi nakamoto.

[aeternus]

For me bitcoin is an easy opportunity to gain wealth, we all know that the current bitcoin price continues to increase so it becomes the main choice of future investment. Let's make life better with invest bitcoin.

Bitcoin is a great wealth generator but I would not call it easy, bitcoin is getting more expensive by the day, so if you want a bitcoin you need to invest almost 5000 dollars just to get one, and if you want to earn it then you need to put a great effort since no one is going to give you bitcoin for free.

[Alok Yadav]

Bitcoin is an innovative payment network and a new kind of money ( Basically a electronic based currency, not a paper currency).
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

[junglist.massive]

bitcoin is a digital money with no one controls it and has an unstable selling price which could rise so drastically and vice versa. bitcoin can help someone to be a future millionaire if someone invest it in a long-term

[Freedom24]

bitcoin allows us to send digital money faster and without you having to pass several countries if you want to send it to another country and not taxed different than the bank if we want to send money to different countries and taxable, and else bitcoin transfer is safe and no tax as its advantages

[Reid]

I guess we all differ on how we see bitcoin or how we use it.
Depends if you just want it to be an asset or a trading tool to make it faster gaining more coin or as a currency which could buy other crypto currencies. That is all the use of it that I know since i havent tried buying physical items thru it.

[EddyGameta]

I think bitcoin is a digital money that can help to improve one's financial because it can give people extra income in online world and can be withdrawn into fiat money to shop in real world, because it has pretty high selling price. I think it can improve the financial economy from poor to be better in future

[Emilia7]

is a virtual currency. Value depends on digital currency users, the higher the value, the higher the value.