How would you explain bitcoin to someone?

[Mandoy]

Bitcoin is not meant to look complicated or too difficult to understand. Don't explain with the idea that bitcoin is financial freedom because the expectations as a beginner could ruin them. Bitcoin is patience and consistency not a get rich quick scheme.

Right now in the current situation we find bitcoin I would prefer to explain bitcoin to someone as an asset just like every other asset and investment, the best way to go about it to invest in it in the long run just like you would invest in every other investment. In more you invest, the more you make profit because bitcoin is not longer in the past where you can invest little you can gain more, it’s now expensive and requires you to buy more to earn more.

Bitcoin is not a get-rich scheme. Which is a point I agree on: beginners tend to have too high expectations when they are told it's a good place for quick riches. Bitcoin can be best summarized as a decentralized digital asset designed for people to store value and invest in over the long haul. As with other investments, patience and consistency is key since Bitcoin has seen significant price volatility in short periods. Many new investors are too short term oriented, but it's better to know how to manage risk and think ahead. Today, bitcoin is rewarding discipline over short-term speculation.

[liasbaa]

Well, such a rookie question but I am looking for some new ideas to explain about bitcoin and why they should have bitcoin in the simplest way possible, because 90% of them will not be interested in learning the whitepaper if they don't get the concept of decentralization and how central banks are ripping the people with money printers.

So no need to talk about price and share any technical source, just plain and simple, how would you explain Bitcoin to someone briefly?

You can't easily explain decentralized currencies to someone who is ignorant of centralized finance. They will ask you the opposite question, how can we trust something we can't see? It's a stupid question because our emotions can never be seen, only felt.

Bitcoin is a decentralized currency and a separate financial system and a reality. You don't need to explain it to people who literally don't understand the technical aspects of Bitcoin.

I will try to explain to those new investors about the decline of fiat and how the value of cash funds is decreasing. Since there is a limited supply, the price of Bitcoin will skyrocket in the future about.

[Findingnemo]

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Bitcoin is a decentralized currency and a separate financial system and a reality. You don't need to explain it to people who literally don't understand the technical aspects of Bitcoin.

I will try to explain to those new investors about the decline of fiat and how the value of cash funds is decreasing. Since there is a limited supply, the price of Bitcoin will skyrocket in the future about.

An average joe who isn't a cryptography expert will have no way of knowing what it is, so everyone needs to understand from scratch at one point and that is how the community was created and that is the sole reason for the existence of bitcointalk as well.

[hd49728]

An average joe who isn't a cryptography expert will have no way of knowing what it is, so everyone needs to understand from scratch at one point and that is how the community was created and that is the sole reason for the existence of bitcointalk as well.

The Average Joes, newbies can start with simple educational resources like this Visual explanations from Jameson Lopp.
https://www.lopp.net/bitcoin-information/bitcoin-explained.html

Then they can start to learn more with many resources, but first and most important, they must be motivated for a start.
https://learnmeabitcoin.com/
https://www.lopp.net/bitcoin-information.html
https://www.youtube.com/watch?v=l1si5ZWLgy0&list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

[Razmirraz]

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Bitcoin is a decentralized currency and a separate financial system and a reality. You don't need to explain it to people who literally don't understand the technical aspects of Bitcoin.

I will try to explain to those new investors about the decline of fiat and how the value of cash funds is decreasing. Since there is a limited supply, the price of Bitcoin will skyrocket in the future about.

An average joe who isn't a cryptography expert will have no way of knowing what it is, so everyone needs to understand from scratch at one point and that is how the community was created and that is the sole reason for the existence of bitcointalk as well.

That's right, to explain it to the layman, you shouldn't start with blockchain, decentralization and halving because all of that is very difficult for the layman to understand. It takes a special approach to explain Bitcoin to such a person, if he has ever experienced problems when transferring money abroad, then that is the right time to explain that Bitcoin can save the problem in a short time and easily.

Convincing the layman is not an easy task, but if you explain it with the concept of "solving problems without causing problems" perhaps their interest in Bitcoin can grow. The most important thing is that we must be honest when explaining things like volatility, individual responsibility (if the private key is lost, assets will be lost, because when accessing the wallet there is no such thing as forgetting the password) and must use money that is ready to be risked when investing, the goal of all of this is to prevent the emergence of negative assumptions in the mind such as fraud.

[Fiasem20]

So no need to talk about price and share any technical source, just plain and simple, how would you explain Bitcoin to someone briefly?

Firstly,I don’t even have any technical knowledge to share to someone about bitcoin.So I would only share the basic knowledge I’ve learned about bitcoin from this forum and beyond(personal research).There’s a whole lot to learn about bitcoin but first thing you should let someone know about bitcoin is that;it’s a decentralized digital currency that can be used to buy goods online and also for the purpose of an investment vehicle.It’s quite crucial that they know that bitcoin is a volatile asset and lastly “not your keys not your coins”,that’s in essence a little of it’s security measures should be explained.

[gabbie2010]

Well, such a rookie question but I am looking for some new ideas to explain about bitcoin and why they should have bitcoin in the simplest way possible, because 90% of them will not be interested in learning the whitepaper if they don't get the concept of decentralization and how central banks are ripping the people with money printers.

So no need to talk about price and share any technical source, just plain and simple, how would you explain Bitcoin to someone briefly?

I would explain andc enlighten them about the anonymous transaction of bitcoin without any third party involved which I personally fancy, secondly I would tip them about the importance of hodling bitcoin for a long term perspective and the benefits to be derive from it during bull runs compared to saving fiat in a bank as in interest yielded in a bank, More so the importance of securing their wallets from hackers as we well the importance of secretly keeping their pass keys, passwords etc, as for the technical aspect of the price movement or price action of bitcoin I think this isn't necessary to any newbie or investor.

[Vaskiy]

• 1. Give an introduction about the existence of cryptocurrency
• 2. Visualize the value of bitcoin during the initial days and the present market price
• 3. A short note on inflation in fiat, and how bitcoin holds the value due to its limited supply
• 4. Show them coinmarketcap to understand the list of cryptocurrencies
• 5. Show some stores accepting bitcoin along with the information of El-Salvador being the first country to have it as legal tender

If the person whom we're explaining is interested to be part of using cryptocurrency, he'll get back to you. This is my way of explaining bitcoin to a person who haven't heard of it.

[nfuorus]

Honestly to a rookie, there's no need to bug him with lots of scary details because there is nothing to fear when it comes to bitcoin. I will first make him understand that bitcoin is a safe cryptographic and decentralized digital asset which grows with time and gets more value as time goes and it is a tradeable asset that can be traded for profit sake. There is no need to bug him with the internal structure of how bitcoin works.

[arzuo]

✅️I want to explain very briefly and simply:✔️

👉 It is a blessed 😇 technology
👉 No one can 👥 control it
👉It is an independent 🕊️ financial system
👉It is easy 👌 to transact and buy/sell from anywhere in the world
👉If you save it, there is no fear of losing its value (even better than gold and land)
👉It is a secure hardware device that can be kept 🔰 safely
👉No one can ever cause its 📉 inflation

    🤔So this is an economic hope for today!!🤩

[Plutomanian]

Honestly to a rookie, there's no need to bug him with lots of scary details because there is nothing to fear when it comes to bitcoin. I will first make him understand that bitcoin is a safe cryptographic and decentralized digital asset which grows with time and gets more value as time goes and it is a tradeable asset that can be traded for profit sake. There is no need to bug him with the internal structure of how bitcoin works.

Yes, you're right about this trend. There's no need to provide crucial details about Bitcoin, just scratch the surface and you will see how interesting someone can be into this project. It's absolutely necessary for the newbie to know about the basis of Bitcoin and how entirely the crypto space works because any slight mistakes, it will automatically result to loss because the space have been generally designed for one to make losses. Opening positions in the space is literally you fighting against the market and keen on making profits.

[Mate2237]

• 1. Give an introduction about the existence of cryptocurrency
• 2. Visualize the value of bitcoin during the initial days and the present market price
• 3. A short note on inflation in fiat, and how bitcoin holds the value due to its limited supply
• 4. Show them coinmarketcap to understand the list of cryptocurrencies
• 5. Show some stores accepting bitcoin along with the information of El-Salvador being the first country to have it as legal tender

If the person whom we're explaining is interested to be part of using cryptocurrency, he'll get back to you. This is my way of explaining bitcoin to a person who haven't heard of it.

That is true the first thing one is expected to do when trying to explaining Bitcoin to someone, is by creating an atmosphere were you will have to create a picture of how Bitcoin is and how it works. Tell the person the importance and the value that bitcoin has currently as it concerns it use in the waging the effect of inflation which has destroyed Fiat currency completely in the sense that the purchasing power of Fiat currencies drops always simply due to inflation.


I believe that when properly explained to explained anyone who is intrigued by the explanation will like to learn more, that is when we should take the person deeper and start explaining indeptly about Bitcoin, it use and how we can benefits from it.

[Nwada001]

Right now in the current situation we find bitcoin I would prefer to explain bitcoin to someone as an asset just like every other asset and investment, the best way to go about it to invest in it in the long run just like you would invest in every other investment. In more you invest, the more you make profit because bitcoin is not longer in the past where you can invest little you can gain more, it’s now expensive and requires you to buy more to earn more.

Describing it as an asset is not a bad idea, but where I don't align with the idea is making it sound so certain that every invested capital profit is guaranteed, not like there is any danger associated with it, but it's better to tell and describe it as a volatile asset, more volatile than some asset out there, so that the investor will have to bear it in mind and not invest and hold for a long time as if negative market can't affect their portfolio.

[Byebyebtc]

Explaining Bitcoin to someone should be explaining decentralisation,
Making them understand how you can make transactions without limits, without third party etc

Once they know and believe in decentralisation, then they understand Bitcoin

[KingsDen]

Well, such a rookie question but I am looking for some new ideas to explain about bitcoin and why they should have bitcoin in the simplest way possible, because 90% of them will not be interested in learning the whitepaper if they don't get the concept of decentralization and how central banks are ripping the people with money printers.

So no need to talk about price and share any technical source, just plain and simple, how would you explain Bitcoin to someone briefly?

This is what I finished teaching a group of people now... See how I did it.

Crypto-Currency:
Crypto is a short form of Cryptography;
Cryptography is the science of hiding information in a complete mathematical codes.
So, cryptocurrency is a digital money that is being secured by cryptography (uncrackable complex maths) and not by the government or the banks.

Bitcoin is the first cryptocurrency, the largest and the most decentralised.
I went further to teach decentralization. Then mentioned Altcoins, compared bitcoin to altcoins and other digital coins by the market cap, limited supply etc.

This was enough to ignite them. Meanwhile, before talking about bitcoin, I first took them back to the history and evolution of money. From barter to where we took gold to the bank and we were given papers for transactions and later on, the government said we have to now trust them that an ordinary paper which they print unlimitedly has value (fiat). The history of inflation... It was fun and they never wanted the class to stop.

[Rgram]

Explaining Bitcoin to someone should be explaining decentralisation,
Making them understand how you can make transactions without limits, without third party etc

Once they know and believe in decentralisation, then they understand Bitcoin

One place to start would be having to make sure they know that Bitcoin is money, not there everyday currency but it is indeed a currency.

Then, you can go from that to explaining the difference between centralized system fiat operates and the decentralized system Bitcoin operates. You can follow up with its supply and how its mined and then, you see how the individual responds before going further.

[RockBell]

Boring IT stuffs is a perfect way which will also explain and give reason to why you could be on your computer for long period of time and it will avoid some unnecessary further questions. You will give someone an advise about something and they will decide to take w separate route and when it backfires them they put the blame on you for bringing the idea to their table in the first place, the best to do is just totally don't explain to them unless when they voluntarily ask for such information you give tips without it sounding as if you are persuading them to invest.

Aside from Bitcoin, anything that consists of profit and loss will always backfire on the adviser if the recipient encounters losses. This is the reality of life, which is the reason why it is better not to give financial advicer or rather add a disclaimer if you are writing an article on such a subject. Bitcoin is not a scam, nor is it a sure means to become wealthy. Most folks misunderstand the concept of digital money, the fairest form of money we will ever know, which is Bitcoin. They come with the mindset of becoming wealthy through Bitcoin, without giving it proper time.

This are part of the reasons why a lot of people don't like introducing anything to anyone but another thing is that people  always say the sweet part of the investment instead of them to make things more clear that this thing have risk of your money dropping while the price drops so all this things have to be clear before you bring anyone to the picture so there periods you will make your own profit and there times it will take long for you to make back the money you invested so that is how it works you have to be patient and who ever you are explaining to a lot of things needs to be clear.

And couple with the idea that people have about bitcoin been a scam and it is all a misconception and they need to read for them to understand something because they won't have this ideology if they do there research instead of looking for who to blame and the best thing is just for you to be blunt with them, then if they are interested you will know.