Explain Bitcoin Like I’m Five

[ATN.io]

I'll keep it short and simple.

If you're interested in bitcoin you should do the research before you invest so you don't end up panic-selling along with everyone else. A great resource is this article on Medium: https://medium.freecodecamp.org/explain-bitcoin-like-im-five-73b4257ac833. A little old, but still a valuable resource. A lot of us who get into bitcoin kind of forget about the good 101 resources for people who are new to bitcoin, and the more talks I give on the subject at conferences, the more I realize we still need to be sharing the A, B, C's of bitcoin. I am a little surprised this article wasn't posted here already, so if it was--my apologies.

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[tenu]

Thank you for the link, very interesting resource! By the way, I think that five-year-olds will be able to understand bitcoin technology better than we adults. I'm not talking about details, but about a fundamental understanding.

[Hadrop.Boyle]

Maybe you just check this video, https://www.youtube.com/watch?v=Um63OQz3bjo
I always show any audiience this first.

[ahtsham90]

Great initiative. Yes I did realize this thingy that people are showing their expertise and forgot to spoon feed to new users. Bitcoin needs to be addressed fundamentally and technically to all the new comers in a simplest way.

[Sferium]

If you are 5 years old, the way I would explain it is that Bitcoin is like lego pieces, they're fun and easy to play with, you could part with them or trade them in pieces or as a set, could be frustrated at times, they could be cheap or expensive depending on brands or if they're counterfeit, and some could be worth a fortune, for example some of Harry Potter's legos are in the thousands of dollars now even though they were less than $100 a few years ago.

[pooya87]

If you are 5 years old, the way I would explain it is that Bitcoin is like lego pieces, they're fun and easy to play with, you could part with them or trade them in pieces or as a set, could be frustrated at times, they could be cheap or expensive depending on brands or if they're counterfeit, and some could be worth a fortune, for example some of Harry Potter's legos are in the thousands of dollars now even though they were less than $100 a few years ago.

Explain Like I am Five (ELI5) is just an expression meaning that I have no knowledge in that field so keep the explanation simple. it is not literary.
also your way is interesting but wrong in my opinion because it is promoting bitcoin as something like a collectible instead of what it really is which is a currency and instead of focusing on the value of it and promising growth, you should always focus on utilities of bitcoin as a currency.

[nishikido]

I'll keep it short and simple.

If you're interested in bitcoin you should do the research before you invest so you don't even up panic-selling along with everyone else. A great resource is this article on Medium: https://medium.freecodecamp.org/explain-bitcoin-like-im-five-73b4257ac833. A little old, but still a valuable resource. A lot of us who get into bitcoin kind of forget about the good 101 resources for people who are new to bitcoin, and the more talks I give on the subject at conferences, the more I realize we still need to be sharing the A, B, C's of bitcoin. I am a little surprised this article wasn't posted here already, so if it was--my apologies.

Great article. it's the best thing to read before engaging into bitcoin.

[ATN.io]

If you are 5 years old, the way I would explain it is that Bitcoin is like lego pieces, they're fun and easy to play with, you could part with them or trade them in pieces or as a set, could be frustrated at times, they could be cheap or expensive depending on brands or if they're counterfeit, and some could be worth a fortune, for example some of Harry Potter's legos are in the thousands of dollars now even though they were less than $100 a few years ago.

Yup that works.

[nextpakk]

Nice assist ATN.io. Sometimes it's easy forget that the basics are the fundamental buildings to succeed in any new endeavor. I will checkout the article you recommended. Thank you again.

[rivkavender]

look it up on google again

[ATN.io]

Nice assist ATN.io. Sometimes it's easy forget that the basics are the fundamental buildings to succeed in any new endeavor. I will checkout the article you recommended. Thank you again.

Yup, no problem. Hope it's useful.