Wow. Stanford University publishes excelent description of the bitcoin network

[RodeoX]

I thought they did a great job of explaining the ledger based system.

http://news.stanford.edu/news/2014/february/bitcoin-athey-srinivasan-021814.html

A SAMPLE:
"Athey: The Bitcoin system has at its core a secure public ledger. An entry on the ledger is not an IOU from a bank, like your bank account balance is. Rather, the ledger entry is the definition of ownership of a bitcoin. Within the Bitcoin protocol, one individual can send bitcoins to another without any middlemen or risk … that is a very powerful concept."

[ChuckBuck]

Very good read and great article to link to for people new to Bitcoin.  I like how they break each concept down, and make easy to understand analogies to PayPal for instance.

[Lauda]

A good read, thanks for the share.

[LiteCoinGuy]

nice one, thanks!

[Gabi]

It seems they finally understood it, it took some years but finally it is a good description, it makes sense and it grasps the concepts of the bitcoin network

[h3rlihy]

Will give this a good thorough reading through shortly but seems like a pretty good explanation.

[Nathonas]

It seems they finally understood it, it took some years but finally it is a good description, it makes sense and it grasps the concepts of the bitcoin network

Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter 

[RodeoX]

The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.

[h3rlihy]

Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter 

That's why you just tell the average person it's just 'internet money' and much better than their crappy 'bank money'

[Nathonas]

The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.

I don't think most of them WANT TO understand bitcoin. They're invested in the current old, outdated system. And if they don't want to change, the world will change without them.

[danielet]

Thanks! Nice read

[Gabi]

The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.

I don't think most of them WANT TO understand bitcoin. They're invested in the current old, outdated system. And if they don't want to change, the world will change without them.

I agree with that explanation, plus consider that most of them have no idea about how pc and internet works, probably they are barely able to write an article and clic "save", they are still scared at "omg it ask me to choose between .txt .doc and other, help help!"

[Lauda]

It seems they finally understood it, it took some years but finally it is a good description, it makes sense and it grasps the concepts of the bitcoin network

Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter 

Should, doesn't mean they will. Look at MIT.