How to explain BTC values to co-worker

[l4w]

Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?

[nightmanisrightman]

I think you meant to say a currency which isn't backed by government or corporation yes? It is going to be quite tough to try and explain this over 5 minutes but the brief points you can make are that centralized authority when it comes to money has failed us time and time again. Knocks down borders and payments can be made to anybody internationally and received in less than a minute (not confirmed but acknowledged). The 4-5 billion people who don't have access to banking services soon via cell phone will have access to banking and any bitcoin wallets. This is the tip of the iceberg but if you explain this it will hopefully be enough to make them look further, which if they are critical thinkers they most definitely should give it a look.

[Anti-Cen]

To teach it you have to understand it and get across the point about owning the private key really does turn
your phone into a bank unless of course the currency crashes due to outside factors like miners ramping up
fees and the development team doing nothing about it.

Hopefully you will also understand the Lightning Network in case someone points out the mega
slow transaction rate of Bitcoin so please let me help you out here in case you end up pissing your
co-workers off

https://bitcointalk.org/index.php?topic=2776719.msg28395400#msg28395400

Even my misses gets it but i had to use Bob the builder to help

[odolvlobo]

A bitcoin does not provide income, so it's value is based on its utility. Because Bitcoin basically has no utility right now, the current value of a bitcoin must be the discounted value of the future utility. In other words, if a bitcoin will be worth something in the future, it must be worth some fraction of that now.

[mrcash02]

I think many people here don't like to hear it, but I would say the currently price is on that number because speculation... People see it's a profitable investment, so they want to try too, so many of them put their money in BTC and push its price up. Store of value feature is very interesting and attractive for everyone.

On long term I believe Bitcoins loses the speculative characteristic as it will have more utility, being accepted as payment for several kinds of businesses and being more present in our daily life. More accessible and easy currency to use, which you are under the control all the time, without the need of third party services (banks and governments).

[Granxis]

There is no reason why Bitcoin is expensive, unfortunately the supply and demand is not strictly working in Bitcoin. Because the cost of 1 Bitcoin to miners is $ 2,000, we can understand how expensive it is.

[jomz312]

Will in my first heard about the bitcoin a few months ago i thought it was a fraud, but i tried  it out after i had come to know some people making money on it.
Bitcoin is an open source, p2p form of digital currency. A people currency with no government or central figure controlling things like interests rates or inflation. Bitcoin transaction can be reverse, so users can receive payments without having to worry about charge back and the fees associated with them.
You can't get them back. Because bitcoin is peer to peer,fees for transactions are extremely minimal or even free.

[rodgelampis]

Will in my first heard about the bitcoin a few months ago i thought it was a fraud, but i tried  it out after i had come to know some people making money on it.I think many people here don't like to hear it, but I would say the currently price is on that number because speculation... People see it's a profitable investment, so they want to try too, so many of them put their money in BTC and push its price up.

[rerek007]

Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?

We can explain bitcoin to our Co workers by telling him the successful effect and how bitcoin can help for our future and answer financial needs

[Linhkej]

To explain them is very easy. The first thing you need to mention is its benefits. Do not say harmful things, it will only show that people do not want to participate.
Show them what you got after participating in ICO projects on the bitcointalk forums and how profitable it was in the past five months. They need to see the benefits of bitcoin and they will automatically take the time to learn. simple.

[kaizerblitz]

Explain the success of bitcoin and the progressive of it try to explain in watching youtube stuffs about bitcoin.

[cpfreeplz]

I've found a great method to explain bitcoins and crypto to morons normal people.

First, ask then this. "How is you money created". When they try to tell you, correct them. No one has a clue yet everyone uses it.

After that, explain how banks work. You take a currency that's infinite supply and is used to fund the biggest wars known to man, then you TRUST some RANDOM with YOUR money. Why? Oh, because that's what my grampa did. And his dad. And his dad. Yeah okay, but did you know you can be an early investor in something better? This is currency 2.0.

They'll ask about mining, say it isn't profitable and don't get into it BUT it's essential. Basically, you create bitcoins with math. Leave it at that. Just, be like it's a half trillion dollar market, believe me, the math behind this is legit. You heard of encryption? Same type of math here, cryptography. Yeah. It's cryptographicly provenance currency. Not just, okay let's print another few million each day and we'll devalue our currency by 3% every year, year over year, until it's worthless and then we start over. What great logic.

Ask them what the best oldest currency is. Ask them how long a fiat currency lasts. Ask them why they trust a bank with their money when they can hold a better currency themselves and be their own bank. Literally, your phone is a bank. Stop playing them to hold your money.

[itsmeram]

Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply

It is simple, do not tell anything to them, they are going to bully you for your entire life in there as long as you keep working in there.

This is just an advice, i tried to explain it to some guys and they were just thinking that i was smoking weed before i talked to them about "bitcoin".

[pooya87]

it is quite hard to explain bitcoin to others when they do not understand what Decentralized means and they want to compare it in their heads with what they know from a "currency" in the usual sense of the word. and these days it is even harder to explain bitcoin because of the high fees.

before i would have just showed them a couple of places that accept bitcoin such as Microsoft, and made a payment and that was usually enough.
also remember that 1 whole bitcoin is expensive but 1 mBTC or uBTC or 1 satoshi even is not expensive at all and they can always have smaller than 1 whole bitcoin.

[tot-o]

If you can't explain it to them well or if they want to know what bitcoin is, let them make an account in this site, little by little, same like me, let them read here and they will get to know all about bitcoin... Just be a guide to them....

[Raigeki.]

My technique is to send first an email. it includes basic links and fundamentals about bitcoin.. youtube clips. and facts from years earlier Vs now. though i know they wont read it with all of their heart, i will make a run through of my email to them personally,( like a small seminar).. then the hype is on..

[Chinatsu Akasaki]

Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?

Bitcoin is really hard to explain because of its complexity. If your office mate really wants to know more about bitcoin and learn how to use it, it is better to let him do his own research. In that way he will learn easily than telling him what to do and how it works. You will never fully understand bitcoin unless you try it yourself so let them try it and let them explore it like the way you learn about it.

[btcluisdiki]

I will actually let them research on their own at you tube or google about bitcoin on how it works for beginners, how to invest and earn from it. I just think that if people are interested into bitcoin, then they will have to make an effort in order for them to understand the basics since knowledge is an important key to be successful and minimize the unavoidable errors.

[Visin]

I will actually let them research on their own at you tube or google about bitcoin on how it works for beginners, how to invest and earn from it. I just think that if people are interested into bitcoin, then they will have to make an effort in order for them to understand the basics since knowledge is an important key to be successful and minimize the unavoidable errors.

You can't force them to learn what Bitcoin is. If your friend or Co worker doesn't want to know what Bitcoin is then leave him alone.

[louie69]

First, let them understand that if they are interested about bitcoin then inform them that there is an opportunity for new comers to earn bitcoin by simply joining the bitcoin forum through signature campaign ad or they will invest on bitcoin. But before that, they should learn and understand how it works since there is always a risk involved. That is why knowledge for the newcomers is a must.