How do you describe bitcoin to a newbie?

[Razmirraz]

Bitcoin is one of the most popular Cryptocurrencies today, making people out there very interested in knowing the functions and uses of Bitcoin. Explain to the newbie Bitcoin is an alternative investment that can be an option if want to diversify investment.
Bitcoin operating on a decentralized network is very different from stocks and bonds, which is the reason why the value of Bitcoin is different from other investments. Don't forget to advise newbies to take a little risk on high value assets (Bitcoin) for their old age investment.

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[Cookdata]

Good day everyone

I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and  bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?

There are interesting threads in the forum, use the search bar in the upper right corner of your screen, query it, and you will get interesting answers. Furthermore, if you need a graphical representation of bitcoin to a new person who doesn't know anything about bitcoin, you can use Youtube and locate Finematics, they have a dummy representation of what bitcoin is about, you can also use GUY crypto as an alternative. There is much more about bitcoin if you want to study from the beginning to the advanced level, you can use Learnmeabitcoin.com, it has both beginner and advanced sections, you will enjoy the website.

[Shamm]

There are many ways to know about Bitcoin ans other related crypto currencies, as long as people are willing to learn. In social media we can heard and watch videos about bitcoin. And also from other people around us who knows about bitcoin.

Bitcoin is one of the most popular Cryptocurrencies today, making people out there very interested in knowing the functions and uses of Bitcoin. Explain to the newbie Bitcoin is an alternative investment that can be an option if want to diversify investment.
Bitcoin operating on a decentralized network is very different from stocks and bonds, which is the reason why the value of Bitcoin is different from other investments. Don't forget to advise newbies to take a little risk on high value assets (Bitcoin) for their old age investment.

Yes you are right that mate Nowadays Bitcoin is very popular and we all know that there are a lot of people around the globe knows about it. But also we can not deny the fact that there are several countries not accepting Bitcoin yet or else they don't know yet about bitcoin or else they know already But not too much .

[Rruchi man]

If I am introducing bitcoin to a newbie, I will start by telling them all the things that bitcoin is not first, before telling them what bitcoin is. Many newbies have twisted and false knowledge about bitcoins, some are partially wrong and right, while others are completely wrong. Some of these newbies hve carried this false knowledge for a long time and perhaps it is the reason why some of them have refused learning anything about bitcoins until now. Before a newbie can fully understand the concept behind bitcoins, they need re-orientation on the purpose of bitcoins.

Some newbies have the idea that bitcoin is a get-rich quick scheme, that as they have decided to invest in bitcoins, that within a short period they will become very rich, that notion needs to be corrected in newbies, they have to be made to understand that if they are investing in bitcoins it should be for the long term.

Some newbies only know bitcoin to be something that they can invest in, some are unaware that bitcoin has a currency function also, Newbies need to also understand that bitcoins can be used for transactions that they intend carrying out asides investing.

[BD Crypto]

The concepts of Bitcoin is to make payment system faster and secured with a lower transection fees. I will describe a newbie that Bitcoin is the secured assets in the world which can be used virtually and it is the solution of digital currency system. Even in future it will be the mostly used and reliable currency system because of its popularity and features.

[Rengga Jati]

Can somebody assist me in anyway?

digital numbers, they are not touchable like money or real assets usually are, but they are valuable.

This will be :
Money for the future
Savings for the future
asset for the future

But, this is also risky, learn at first, if you are not ready for the risk, better not to enter. because the risk is losing your money.

[Pokapoka124]

snip

I agree @Rruchi man that’s a good way to start that conversation. I think debunking the myths and fake news about bitcoin is a good step to start when teaching a newbie, it’s important that they unlearn what the media has taught them of bitcoin because more than half of what they think they know about bitcoin is tainted by the anti bitcoin media. I would then explain what bitcoin is and why it was created referencing the bitcoin white paper.

[jeraldskie11]

I agree @Rruchi man that’s a good way to start that conversation. I think debunking the myths and fake news about bitcoin is a good step to start when teaching a newbie, it’s important that they unlearn what the media has taught them of bitcoin because more than half of what they think they know about bitcoin is tainted by the anti bitcoin media. I would then explain what bitcoin is and why it was created referencing the bitcoin white paper.

It is very right because one of the things that hinders people from investing in Bitcoin, is the spreading of fake news on Bitcoin. That spread half true and half false about Btc. And that's surely there is a high chance that they will believe what others say like; "I lost my funds in my Bitcoin wallet (non-custodial) even though I'm the only one who uses it and my device has a password, Bitcoin I think is a scam." (Not knowing he accidentally pasted his private key anywhere). That's why people should understand that their funds are very secured in Btc, they just need to do something to be very safe.
Other than that, what I teach them first about Bitcoin is the basics (such as how to send, receive, and store your funds efficiently and safely) so that they can easily absorb what I teach since they are new to Btc. Then I will teach other things when they understand the basic knowledge about what Bitcoin is.

[Litzki1990]

Introducing someone new to Bitcoin is a very easy task in the times we live in today. In the age of online, it is possible to know and learn about Bitcoin from any platform. If anyone is interested in knowing or learning then he can definitely learn about Bitcoin. An honest desire to learn helps people to learn anything. But attention is a different thing, no matter how much time we try to learn about Bitcoin, we have to pay attention to learn about Bitcoin. As long as we keep paying attention to Bitcoin, we will have a better understanding of Bitcoin.

And if someone with experience in Bitcoin teaches directly to the newbies then the newbies will pick up that education much faster. Make sure to let people who are experienced in Cryptocurrencies and those around you who express interest in Cryptocurrencies learn about Cryptocurrencies.

[cozytrade]

Usually I will compare it to gold, because it is the simplest thing that can be explained to the layman. But if they want to know more about Bitcoin I'll usually tell them to read an article on Binance or Coindesk and then if they're having trouble digesting it I'll explain the parts they find confusing. Because if I explain thoroughly it will take my time because quite a lot of parts need to be explained, it's better for them to learn it by themselves.

Bitcoin is quite different from gold in numerous ways; i know quite a lot of people call Bitcoin "digital gold", but that's the closest the similarities can get to, there are so many differences between the two assets/currencies, and comparing the two of them is not an ideal way to explain what Bitcoin is to a newbie.

Having said that, there are better places to get information and resources about Bitcoin than Binance articles, do not be deceived that Binance is pro Bitcoin, they care more about their shitcoins and their own pockets. If you know people who want to learn about Bitcoin, then tell them to join this forum, and good articles that would get them started would be made available to them, and if they are tech-savvy they can even start off with the Bitcoin whitepaper.

That's right, I know that gold and bitcoin are not the same, but for a newbie they might understand better if bitcoin is analogous like that. Because most newbies understand bitcoin like that much more than if they were told that bitcoin is a digital asset like e-money. In fact, when I first learned about Bitcoin, I thought it was "gold" but in digital form that could be mined, but after learning about it, I realized that it was different.

yes in new state bitcoin and gold can be same but bitcoin is only seen but sonata you can see and hold it bitcoin is digital currency you can only see online but you can never hold them

Bitcoin is one of the most popular Cryptocurrencies today, making people out there very interested in knowing the functions and uses of Bitcoin. Explain to the newbie Bitcoin is an alternative investment that can be an option if want to diversify investment.
Bitcoin operating on a decentralized network is very different from stocks and bonds, which is the reason why the value of Bitcoin is different from other investments. Don't forget to advise newbies to take a little risk on high value assets (Bitcoin) for their old age investment.

Bitcoin has been a coin that many people didn't know before but now Bitcoin has become quite popular.  A lot of investors are growing into Bitcoin and hopefully it will become more popular in the days to come. People who don't know about Bitcoin now may also know about Bitcoin and become interested in Bitcoin, hopefully it will happen very soon.

[Getmon]

It is difficult to comprehend Bitcoin in its entirety and its operation. For individuals new to bitcoin, all they need to know are the basic principles. And if you are interested, you can study its concept further. Read the whitepaper of Satoshi Nakamoto. Find out everything you can about it and look for answers to your questions online. You can conduct research and discover a wealth of useful information about bitcoin even within bitcointalk. Videos and illustrations can make it easier for someone to understand, additional information and guide can be found on YouTube.

[CryptopreneurBrainboss]

Usually I will compare it to gold, because it is the simplest thing that can be explained to the layman. But if they want to know more about Bitcoin I'll usually tell them to read an article on Binance or Coindesk and then if they're having trouble digesting it I'll explain the parts they find confusing. Because if I explain thoroughly it will take my time because quite a lot of parts need to be explained, it's better for them to learn it by themselves.

Avoid referring people to read articles on those centralized exchange, they always have a way of inputting one of the services they offer in their article which could be very misleading. They might be explaining ways of exchanging Bitcoin with P2P methods and give example of their own P2P service which we all know it's centralized and not actually P2P but the newbies reading mightn't know and end up getting tricked into using this exchanges service.

We have other unbiased platforms out there that gives accurate explaining on things relating to Bitcoin and gives genuine examples or you can also refer them to the forum. Them asking questions here will guide them better. I think Bitcoin is more than gold, using gold to describe it isn't sufficient because although gold could be said to have limited supply on earth but in the future other planets could be explore and more gold might be brought into circulation when found. Bitcoin is finite, the supply can't increase instead it'll steadily be decreasing due to factors I believe you already know.

[arimamib]

Explaining bitcoin to someone novice is easy enough for now there are lots of educational videos for them to understand on the youtube channel and in theory great if they have the will they can quickly understand what is bitcoin and what is bitcoin for.

Bitcoin was created by Satoshi to make the world's steps easier in transactions and easier and more practical than fiat when we make transactions.

There are criteria of beginners who want to trade where you can refer them to do it on the biggest and most trusted exchanges like binance or coinbase.  I think that currently there are many academies from various communities that provide education on understanding bitcoin to the wider community in the real world.

[Rexlus]

Bitcoin is a configuration of automated cash that aims to rule out the need for central authorities such as banks or administration. Instead, Bitcoin uses blockchain applied science to support peer-to-peer transactions between users on a decentralized network.

[alastantiger]

Good day everyone

I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and  bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?

Explaining bitcoin to a newbie depends on the understanding and the willingness of the person.
Before you explain bitcoin to a newbie, he has to first understand the important of digital technology and it's usefulness because someone who don't understand these two will find it hard to comprehend bitcoin.
Bitcoin is an investment platform where you alone has access to your wallet without interferance.
Every newbie should understand the slow progress and the time duration in bitcoin if he must make it big.
Some newbies who are not well informed might lost it all due to lack of patients and maybe invested all they have that they cant wait for a longer period.

[dansus021]

Cryptocurrency is exploding the way to learn is simple and easy now there is dozen channel that discussed about crypto on youtube personally I do recommended this https://www.youtube.com/@WhiteboardCrypto It easy to understand

Centralized Exchange Now also make their academy program like this https://academy.binance.com/ and also there is https://coinmarketcap.com/earn/
While your learn you can earn

-Good Luck

[moijiashiasei]

to make it simple it like paypal that uses torrent p2p technology
 

Good day everyone

I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and  bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?

[Wakate]

Good day everyone

I've been having challenges trying to understand the concepts of bitcoin.
When the terms bitcoin and blockchain are mentioned,a number of terminologies are been
Displayed and can be quite confusing.The blockchain and  bitcoin has always been challenging as I'm
Learning for the first time.It will take a long time and effort to understand the notion of cryptocurrency.
Can somebody assist me in anyway?

If you cannot understand Bitcoin from a mere explanation, then you need to be ready to carry out research so that you can comprehend it to the fullest. Bitcoin is the first digital currency and you need learn some certain things about it for you to have perfect comprehensive knowledge about how it works, what it does  and how to use it. Going through the Bitcoin white paper would be a good move for you to understand the concept and the problems it intend solving. You can watch video on YouTube, read files, enrol for a full cryptocurrency class for a better understanding.

[Sexylizzy2813]

It will take a long time and effort to understand the notion of cryptocurrency

Your zeal and eagerness should be a driving force to motivate you to have patience cause cryptocurrency study is a broad subject and  it's not something that can be rushed especially if you want to venture into trading. The best way to grasp the knowledge quick is to not only do research, but you can also watch videos on YouTube that center on Bitcoin and Blockchain.

[Velemir Sava]

Actually, to understand about BTC is easy. there are many references that you can get from the internet or other media. but my recommendations are all about BTC here and fully discussed by all members of the community with various levels of membership. usually the most proficient are our seniors.

One more thing to understand straight into practice, you can trade with BTC or other tokens. Well, distulah knowledge will enter little by little and understand how the market works.