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Author Topic: What is a good way to concisely explain Bitcoin?  (Read 1451 times)
Mandalawangi
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July 30, 2018, 02:59:33 PM
 #41

explain bitcoin as it is. The simpler the better because not everyone can understand such complicated things. Tell them that it is a currency that runs digitally and no one controls it. When they ask questions, that means they are interested and that's when you have to answer them one by one bitcoin will also be used by all countries as proof of their transaction because bitcoin is our most valuable asset in this world
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Maiscoinyelo
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July 30, 2018, 03:05:56 PM
 #42

Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.

What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.




For me, I think the good way to explain bitcoin is to tell them that bitcoin in an online or modern investment. Whey they invest money, they will gain a profit higher that what can company give but they need to have patience in waiting.

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July 30, 2018, 03:14:38 PM
 #43

Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.

What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.


BTC is a virtual currency used for sending a monetary amount that does not involve government intervention.
Thus, it will not incur taxes and it is favorable especially for businesses.

eydrea
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July 30, 2018, 03:15:16 PM
 #44

Always tell them the truth about bitcoin. Dont make stories which is not acceptable in the eyes of new comers and newbies in this kind of currency field. Always spread good news so that they can decide wether they should let themselves to be involved with bitcoin or not. The best way to explain bitcoin is showing them thw output of your hardworks while using bitcoin.

balamuda
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July 30, 2018, 03:21:16 PM
 #45

Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.

What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.


You can explain, bitcoin is a virtual currency that can be a means of payment, but other than as a means of payment, bitcoin can also be used for investment because its value is increasing. I think it's easier to accept.
gaxfrwpy
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July 30, 2018, 03:24:42 PM
 #46

Yes, there are a lot of new investors joining the market in the last year. I have encountered the same problem as you. It's hard to explain to these new investors what bitcoin is. I suggest that it is a good way for them to get a quick understanding of the world.
iam_aayushiJ
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August 02, 2018, 09:54:40 AM
 #47

What is Bitcoin?

To many, Bitcoin is the face of the cryptocurrency market, and for quite a few, it remains the only cryptocurrency they know.

Bitcoin: The Basics

The first to come into the spotlight, Bitcoin is a decentralized, blockchain based cryptocurrency.

It can be transferred from person to person, without the use of a financial institution, such as a bank. This is called a peer-to-peer transaction and eliminates the need for a middle-man.

All transactions are recorded and stored in a ‘ledger’, which is the blockchain. These are not stored in a single server but are distributed across the network, thus making them decentralized, and safe from unauthorized modifications.

In January 2009, an individual or a group of individuals using the pseudonym Satoshi Nakamoto released the source code on SourceForge.
In 2010, Nakamoto handed over the Bitcoin network to Gavin Andresen, who then sought to decentralize it.

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August 02, 2018, 09:58:31 AM
 #48

Bitcoin cannot be understood for the normal people who don't use the internet so you can give them an education for the internet first before explaining bitcoin.

Demanderoca
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August 02, 2018, 03:40:21 PM
 #49

Bitcoin is completely decentralized and just the individual who got it, controls it and nobody else. It is the world's first digital money. It is an exceptionally beneficial venture for its clients since they can profit effectively and rapidly in exactly how long for bitcoin can restore your cash and benefit for you or basically you can state that bitcoin is a virtual or digital currency which isn't controlled by any government or nation.
dutchkay
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August 02, 2018, 04:06:11 PM
 #50

The truth is that there is no easier way to explain bitcoin. Most of the people I always explain to end up getting more confused. Or should I say that their not believing in bitcoin make them not to ever get it even it you explain it.
Simply saying bitcoin is more of an Internet money not physically touched. Can be used to to send and receive money in any parts of the world and received in seconds.

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cryptowisser
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August 03, 2018, 10:19:24 AM
 #51

Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.

What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.


If you are allowed to use visual tools in your explanation, try this: https://www.cryptowisser.com/cryptocurrency-explained-in-pictures/

Good luck! Cheesy

All the best,
Cryptowisser
Rosaleen18
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August 05, 2018, 12:36:30 PM
 #52

Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.

What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.

For me bitcoin is a digital currency, you can receive and send money all over the world through internet.
Christopher_Nicholson
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August 07, 2018, 03:15:39 AM
 #53

Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.

What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.

If in a nutshell - Bitcoin is a payment system (same as Master Card or Visa, for example). But another technology is used. This technology is called blockchain. Bitcoin is a derivative of blockchain. Or, if quite simply, a piece of code. There is a block of blocks that store information about transactions in the network.
A huge plus and one of the main advantages is that no one will ever be able to block your wallet, no one can steal your money if you do not lose your password.
This is provided by the new technology of blockchain. There is no single center where there are records of purses.
There are records of purses for everyone, on thousands of computers all over the Internet.
Such a system can not be blocked.
I think everything is simple enough)
rdangi
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August 07, 2018, 04:10:45 AM
 #54

Concisely you can say it is a digital currency that is alternate to the fiat money
fqhuqryfhjq11
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August 07, 2018, 08:31:34 AM
 #55

First, you agree with me that:
The process of learning Bitcoin is really difficult for beginners. Right?
I also experienced that stage so I understand that feeling. Submerge in a dozen new information.
But I realize that there are not many people who write about Bitcoin in an understandable way. I will explain to you like this:
Bitcoin or BTC is the first electronic currency in the world and lays the foundation for the development of the cryptocurrency market.
Bitcoin cannot be created but you can only claim - otherwise known as Bitcoin.
Unlike paper money. Bitcoin cannot be faked.
Extremely low transaction fees.
The security of Bitcoin is high security.
Where is the real value of Bitcoin? The most plausible answer to this question is the technology behind Bitcoin - Blockchain.
CharlieAdoring
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August 07, 2018, 08:37:26 AM
 #56

I think it really to concisely explain bitcoin with somebody, Maybe before that they might have heard of it like a cheating program on TV and they may be careful. Often people who research about it will be the ones who know clearly.

howardjms
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August 09, 2018, 01:05:44 AM
 #57

Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.

What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.

Maybe if i were you, i would explain like this:
Bitcoin is a kind of digital currency that has the same currency value that can be traded like usd, poundstering, etc,
the difference is because of bitcoin is digital currency so there is no physical form like physical currency.
clip123
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August 09, 2018, 03:03:09 AM
 #58

I lost people when I tell them about distributed decentralized ledger blockchain - the technology that powers Bitcoin and ensure data integrity. I find it difficult to explain to people and they get lost most of the time.

Then i just tell them that it BTC is a invisible gold.

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draacubile328
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August 09, 2018, 08:34:22 AM
 #59

Often I'm asked to explain BTC to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess.

What I would like to see is a short and simple explanation of what BTC is that is suitable for someone non-technical to understand.

At present, Bitcoin information is quite popular and widely spread on forums, websites, people who do not know Bitcoin can take the time to read articles or study about it easily. I think you do not need to post to ask this question.
Elmalla
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August 09, 2018, 10:29:51 AM
 #60

I usually explain this to friends and colleagues around me. Bitcoin is a way to pay for blockchain merchandise. It is a symbol of freedom because it is not controlled by anyone or the government!
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