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Author Topic: How to explain BTC to family members?  (Read 875 times)
Sall-Mo
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December 09, 2017, 09:14:19 AM
 #21

At present in China, has been a lot of people can use electronic wallet and mobile phone paid, I think my family will be easier to accept this new currency, first of all, I learned to explain to my family is good. Grin
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December 09, 2017, 10:08:47 AM
 #22

I have given up on explaining to the family and have not yet started to explain BTC some of them are having trouble understanding the internet. Let alone I would have to explain the Blockchain of all thing to them

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December 09, 2017, 10:37:57 AM
 #23

I explained to my family that BTC is a currency, and my father said, "just like the dollar?" Shocked

I just explain to them that it is an internet money without physical form and you can trade with it like stocks. My family is not really into technology because we are from the province where internet connection is poor and the people living there have simple life. I am living now in the city and has good internet connection that's why I can easily access the sites but it is hard to explain to my family in detail because they are not interested in it. They just told me that as long as it is not scam then it's a good way of earning money.

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December 09, 2017, 10:45:17 AM
 #24

I have given up on explaining to the family and have not yet started to explain BTC some of them are having trouble understanding the internet. Let alone I would have to explain the Blockchain of all thing to them

The good thing was that  my family friends itself introduced to me about this btc which has helped my family to understand in a better way and it has become easy and convincing for them was less hectic. Else it would have being a tedious work and now I am started to invest some in this cypto currencies for the future in mind.

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December 09, 2017, 11:21:23 AM
 #25

I like this video also, blockchain researcher Bettina Warburg explains in 5 different people a child, a teen, a college student, a grad student, and an expert.
It can help explaining first what a blockchain is.

https://www.youtube.com/watch?v=hYip_Vuv8J0&t=2s

Hope it helps.
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December 09, 2017, 11:34:35 AM
 #26

I think it's impossible. A lot of things should be explained to have some basic understanding of it. Simply put I say that this is a decentralized currency that exists on the Internet. No one controls it, it has fixed amount, and it's issued by computers that solve difficult mathematical algorithms. That's the easiest definition I came up with. But it's very superficial
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December 10, 2017, 04:43:08 AM
 #27

I think it's impossible. A lot of things should be explained to have some basic understanding of it. Simply put I say that this is a decentralized currency that exists on the Internet. No one controls it, it has fixed amount, and it's issued by computers that solve difficult mathematical algorithms. That's the easiest definition I came up with. But it's very superficial

Defining BTC is definitely possible.

I got into crypto early 2017 and got pretty stuck trying to understand it. After 6-8 weeks of research, I created Decryptionary.com

Decryptionary is the simplest crypto resource. It explains what "bitcoin" is in approximately 100 words. It has visuals. It also has a dictionary with 200+ other entries.

For the guys who want to learn how to buy their first BTC or altcoins, I have super simple and visual walkthroughs.

For the guys who want to figure it out themselves, I have word lists by subject.

It's a growing thing. But I think it will help others.
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December 10, 2017, 03:16:26 PM
 #28

I explained to my family that BTC is a currency, and my father said, "just like the dollar?" Shocked

Do not compare Bitcoin with fiat money, it will be a mistake. show them this video
https://www.youtube.com/watch?v=TzSV2IN4xag

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December 10, 2017, 03:32:02 PM
 #29

Maybe at the beggining show them some good  videos on youtube cause you could find lots of them where people try to explain what bitcoin exactly is.


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December 10, 2017, 04:22:16 PM
 #30

Tell them it's not like dollar, there's no owner, no company, and the network is made up of millions of people. The network is currently 300 times more powerful than the top 500 most powerful supercomputers in the world combined.
Tell them that Bitcoin is not a stock, it's simply an alternative to a 100-year-old obsolete financial system.
Tell them that Bitcoin is a logical evolution stage for a financial system.
Tell them to do some research for themselves and watch youtube videos

Wow, This is a great anwer, helpful for many newbies in this forum not only to explain to their parents but also for us to understand in deep.

Thanks for the valuable comment.
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December 10, 2017, 04:42:12 PM
 #31

Please do not make the worst thing and tell them that it is only a coin which people invest in and you could earn, try to show them more like technology side and power of bitcoin.

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December 10, 2017, 05:05:22 PM
 #32

Make them watch these videos:

The one video every beginner without any technical knowledge MUST watch: https://www.youtube.com/watch?v=Gc2en3nHxA4 and https://www.youtube.com/watch?v=s4g1XFU8Gto
Then, if you want a more technical video: https://www.youtube.com/watch?v=t5JGQXCTe3c

And if they have the time (the video is 37 min long) and are really interested in learning about Bitcoin, this is one of the best "introduction to Bitcoin" videos I have ever seen (made by aantonop): https://www.youtube.com/watch?v=l1si5ZWLgy0
Thanks for sharing this YouTube videos link

Thank you. I think my family will be interested in BTC after watching video
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December 11, 2017, 03:04:44 AM
 #33

I have given up on explaining to the family and have not yet started to explain BTC some of them are having trouble understanding the internet. Let alone I would have to explain the Blockchain of all thing to them

hahaha me too. they just dont get it  Grin
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December 11, 2017, 11:16:59 AM
 #34

I think that the best way is  to explain Bitcoin to a new person is to demonstrate the process of a transaction.
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December 11, 2017, 11:46:04 AM
 #35

I think this is the way my mum would look like if i told her about bitcoin


https://giphy.com/gifs/shocked-surprise-LJPfWhMCs9Rks  Grin Grin Grin Grin
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December 11, 2017, 11:54:32 PM
 #36

I always begin with , do you like using your charge card, its really cool isnt it......
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December 12, 2017, 06:17:52 AM
 #37

I explained to my family that BTC is a currency, and my father said, "just like the dollar?" Shocked

 All you need to do is just tell very details on have you earn money in bitcoin that they can understand or have ideas about bitcoin.
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December 12, 2017, 07:51:21 AM
 #38

It's hard to explain. people don't believe it's not a bubble.
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December 12, 2017, 11:41:30 AM
 #39

Difficult to explain. But I will try to tell you my understanding and u can build on that. In the Pacific island of YAP they used large stones called RAI stones as currency. Now the stones were too heavy to transport so they were kept wherever they were, only the ownership changed and everybody in the village knew who the new owner was. Gold backed currency is like this. The gold is in Fort Knox , the ownership changes whenever you exchange money. But we do not have gold backed currency anymore we have fiat currency, which in reality has no backing except whatever we give it. Now all monetary exchanges are like contracts. I give u this , so u owe me so much. Bitcoin reduces this into a programme. In a sense it is more valuable than fiat currency ,since fiat currency is no longer reated by Central banks, it is created by every bank manager when he gives a loan. The bank manager is not giving  a loan from the money that he has in his bank, he is giving it pretty much out of thin air. Hence why i feel Bit coin will rise in value, its foremost competition coming from other alt coins.
May have confused you. All currency excahnges are contracts. I give u so much you give me this in return I give u work. this work is divided and converted to some form of easily transferrable thingie usually a currency. Bit coin is the internet equivalent That is all.
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December 12, 2017, 12:56:19 PM
 #40

I explained to my family that BTC is a currency, and my father said, "just like the dollar?" Shocked
hehehe Smiley Smiley Smiley you can tell him that bitcoin is also dollar. anytime you can convert it with dollar(local fiat/currency),So try to convenience him about the bitcoin as many as ways you know.

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