How Would You Explain Bitcoin to a Newbie?

[henryjo]

How will you explain bitcoin to someone who is just hearing this word for the first time.
Or someone who has heard about it but still don't understand how it works.

Can you explain bitcoin in the most Simple way?

For me i will explain that bitcoin is one of the currency cyber/online as like currency in the real world. Same as currency in the real world such as usd/aud or usd/gbp, bitcoin can be traded also. The different is bitcoin only exist to be currency in the cyberspace/online world.

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[franpote]

Bitcoin is a very cool thing, having bought it or started to mine at the beginning of its creation, people have become millionaires.

So do not be afraid of the new, you need to be able to take risks 

[xanderlex]

How will you explain bitcoin to someone who is just hearing this word for the first time.
Or someone who has heard about it but still don't understand how it works.

Can you explain bitcoin in the most Simple way?

Bitcoin is one of the digital currency that very promising to invest. Bitcoin launched at 2009 was priced only around $10 and now 2017 bitcoin almost touch $8000.

[viptr]

Thanks for your post, I have a bit of understanding about bitcoin

[Plutonema]

How will you explain bitcoin to someone who is just hearing this word for the first time.
Or someone who has heard about it but still don't understand how it works.

Can you explain bitcoin in the most Simple way?

I think explanations will far not enough to make someone understand it. For me, I'll will just explain that it is a cryptocurrency based on blockchain technology which born to make financial field better because of its system like decentralized, timestamps and many more those pointing in transparent financial system, like there will no double transaction, manipulation and something like that.

Then it become famous because its price and inspire many other coins established. I just will explain like that and will refer he/she to googling it for more detail

Because I think explanation will not never enough to make someone really understand.

[EvaGC]

I'm always having a hard time trying to explain my friends. Lately what I do is recommend a good documentary and then take it from there, so I can explain further when they have a good base

[Majesty0109]

First of all explain them the history of bitcoin , the meaning of bitcoin, who controls bitcoin and lastly on how to get started in bitcoin.

The best way to learn about Bitcoin is to get some and experiment.about how to set up your own Bitcoin wallet, how to acquire bitcoins, and how to use bitcoins to help you get going.

[chadzscript]

I think if i am going to explain bitcoin to my friends i think it is good to show them your money because of bitcoin show them what you are doing to make your money grow because of bitcoin.

[Prinox2]

after briefly telling him that bitcoinBTC is a digital currency like other cryptos, and how important it is to invest in it, i'll quickly go more of practical in explaining bitcoinBTC to a newbie; that's by simply let him  compare the exchange rate between the present year and the last 3years.

the difference in the exchange rate will catch his interest to invest.

[Leeke]

Lol, well as a newb still - I tell anyone that asks that Bitcoin is the flagship of the crypto-currency world. And that crypto-currency is digital currency that is created from using dedicated computing power or bought and sold through exchanges just like stocks etc which can either be used for investing in like gold, or used like fiat currency for day to day transactions dependant on the crypto you have. I also tell them that all of this happens semi decentralized from governments and banks depending on your location in the world and that you can use it to move money around the world without traditional forex restrictions.

The responses I have to put up==> all I'm doing is giving my computing power to Russian hackers and that most likely I'm supported drug dealers and terrorists and mobsters and that all my computers are most likely just ovverrun with viruses and that I'll end up paying 10x in power what I can make on mining....

Verdict - don't explain crypto to a group of negative people. Just tell them its an digital asset and if they want in to go research it themselves.

[bad_taste]

If my grandma ask me: What is the Bitcoin?, I'll tell her that this is a new kind of golden grandma,
For more information read Wikipedia

[aveon]

If my grandma ask me: What is the Bitcoin?, I'll tell her that this is a new kind of golden grandma,
For more information read Wikipedia

Sure, wiki is a great help here) Frankly, I would probably start from p2p system using torrent tracker file exchange.

[podopdof00]

I had a good time reading this thread thanks for all of the comment that written here ! a really big help for newbies like me! hope to work in near future here with you guys .

[maianh09]

Encourage them by imparting them experience before you are also a newbie. You should teach them how to get free bitcoin normally newbies like them still prefer free

[bright4mech]

Bitcoin is a universal currency accept across the nation and served as cash, for buying and selling online.

[chviadu888]

You should provide the link to beginners & help section and have your buddy read the post in there. Explaining bitcoin will complicate things especially if someone was talking about bitcoin and have no idea about.

[Flexusio]

How will you explain bitcoin to someone who is just hearing this word for the first time.
Or someone who has heard about it but still don't understand how it works.

Can you explain bitcoin in the most Simple way?

LoL, I never thought before u asking like this. I also will freeze a while when someone ask about this and want to be explained.
I will just explain that bitcoin as part of a financial technology revolution. It is a desentralized cryptocurrency using blockchain-based system that. It can be mined and the value is hold on a basic economic principle, it's supply and demand. And I will ask him/ her to googling it to find out by his/her self.
I will very underlined explanation about how to get it in order to prevent him/her not to get unlucky with many scammers out there.

[Perseusallen]

Most of the time I always explaining how bitcoin works and what it is. So first I will discuss bitcoin like its not a cryptocurrency. I will say bitcoin is just like a dollar. But they can't touch it. No government hold bitcoin so people will freely mine it. Then they will ask you why bitcoin value has very large. Then I would answer them like this. Bitcoin price is very large because bitcoin has a limited stocks. Bitcoin are limited becase 21,000,000 bitcoin only had made. So time by time bitcoin will grow up his value.

[Sanu Simon]

Being a newbie to the bitcoin needs more learning. The same is possible with our forum and for reference can go through Google and other sources. This is how I've been insisted to follow to make myself strong in using of bitcoin and to gain good knowledge about it.

[Bryan13]

I will tell him/her to watch something video tutorial about bitcoin, or tell him/her to read forums or something they need to know on internet about bitcoin. And i will tell, just have much patience here, so in the future i know all of your that invest here will have a nice result 😊