How To Explain Bitcoin To Your Grandparents

[coindozer7]

[1715185283]

1715185283

[1715185283]

1715185283

[1715185283]

1715185283

[1715185283]

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[LostDutchman]

https://i.imgur.com/ubyBY01.jpg

MOD NOTE:
Removed embedded image to make thread easier to read 

There could well be more truth to that than you know.

[Beliathon]

Explain? No.

Murder your grandparents, and melt your inherited fiat into crypto. Win at life.

This statement may be considered my professional financial advice as a Bitcoin Professional(tm).

[LostDutchman]

Explain? No.

Murder your grandparents, and melt your inherited fiat into crypto. Win at life.

This statement may be considered my professional financial advice as a Bitcoin Professional(tm).

That's not the way to win.

[ArticMine]

First I will make an assumption: The OP is a millennial let us say age 20. The grandparents are 56 years older (allowing 28 years per generation). That will make them say age 76, born on say 1938. They are not baby boomers; however what I will say will also apply to the older baby boomers, let us say to those 55 and older. The older the person is the more relevant this is.

The first thing to understand here is that there has been a profound change in payments over the last 40 years from cash and bearer instruments (This was the norm say in 1965 and for millennia earlier and very much the case even into the 1970's) to accounts held by a "trusted" third parties (debit cards, credit cards bank accounts etc.). Many if not most seniors are not comfortable with current mainstream payment methods. Their comfort level is cash, and bearer instruments. If explained correctly Bitcoin will place them back into the comfort level of their youth.

The proper way to introduce Bitcoin to a senior is simply as cash that one can use on the Internet. Emphasize the similarities to cash both good and bad. Privacy, no risk of identity theft, no risk of bank failure, very low risk of asset seizures, non reversibility, no need for a third party etc. Caution them about the risks by using cash analogies.

By the way I am 56 and I will say that I am far more comfortable with Bitcoin than with debit cards, and most mainstream electronic payments for many of the reasons above; however I am at the younger range of the age group where this applies.

Edit: I believe it is far easier to introduce Bticoin to a 70 year old than to a 45 year old for these reasons.

[LostDutchman]

First I will make an assumption: The OP is a millennial let us say age 20. The grandparents are 56 years older (allowing 28 years per generation). That will make them say age 76, born on say 1938. They are not baby boomers; however what I will say will also apply to the older baby boomers, let us say to those 55 and older. The older the person is the more relevant this is.

The first thing to understand here is that there has been a profound change in payments over the last 40 years from cash and bearer instruments (This was the norm say in 1965 and for millennia earlier and very much the case even into the 1970's) to accounts held by a "trusted" third parties (debit cards, credit cards bank accounts etc.). Many if not most seniors are not comfortable with current mainstream payment methods. Their comfort level is cash, and bearer instruments. If explained correctly Bitcoin will place them back into the comfort level of their youth.

The proper way to introduce Bitcoin to a senior is simply as cash that one can use on the Internet. Emphasize the similarities to cash both good and bad. Privacy, no risk of identity theft, no risk of bank failure, very low risk of asset seizures, non reversibility, no need for a third party etc. Caution them about the risks by using cash analogies.

By the way I am 56 and I will say that I am far more comfortable with Bitcoin than with debit cards, and most mainstream electronic payments for many of the reasons above; however I am at the younger range of the age group where this applies.

Edit: I believe it is far easier to introduce Bticoin to a 70 year old than to a 45 year old for these reasons.

Nice post.

Thank you!

[sana8410]

I will show this to my grandmother,but i doubt she will take out her savings from bank to invest in bitcoin.

[Abdussamad]

Can you buy viagra, dentures or adult diapers with bitcoin?

[sana8410]

Can you buy viagra, dentures or adult diapers with bitcoin?

Viagra,yes,you can buy it with bitcoin from this website:
http://www.coinrx.com/generic-viagra/
Dentures or adult diapers,i don't know,but i am sure that in a few months or by next year a lot of pharmacy and stores will accept bitcoin.

[LostDutchman]

You know, judging by the way my grandparents would keep EVERYTHING, if they were here and knew about Bitcoin, they would be HODLERS de Luxe!

[RUEHL]

I will show this to my grandmother,but i doubt she will take out her savings from bank to invest in bitcoin.

The pamphlet explains it more as an alternative currency to FIAT.

They need an add-on pamphlet for Wall Street comparing it to gold & silver, and the mathematics of why it will become deflationary as adoption becomes more widespread among an ever growing 7 billion population.

[jonald_fyookball]

Explain? No.

Murder your grandparents, and melt your inherited fiat into crypto. Win at life.

This statement may be considered my professional financial advice as a Bitcoin Professional(tm).

That's a pretty disturbing remark for you to make, Beliathon.
You know, one can tell a lot about someone by their sense of humor.

[madmadmax]

Explain? No.

Murder your grandparents, and melt your inherited fiat into crypto. Win at life.

This statement may be considered my professional financial advice as a Bitcoin Professional(tm).

That's not the way to win.

The way to win a sore asshole in the prison showers...

[CoinRocka]

Everything in the physical world is slowly converting to digital.  Currency is the last piece of paper to change over and its time has come.

[LostDutchman]

Explain? No.

Murder your grandparents, and melt your inherited fiat into crypto. Win at life.

This statement may be considered my professional financial advice as a Bitcoin Professional(tm).

That's not the way to win.

The way to win a sore asshole in the prison showers...

For sure!

[PeterReid]

https://i.imgur.com/ubyBY01.jpg

MOD NOTE:
Removed embedded image to make thread easier to read 

Thats very cool, I shall be printing this out for my Parents. (There not very tech savvy)  

[E-C.Guru]

Good innitiative but I don't agree that this is the best way..



You're explaining so much details thus having to explain a ton about normal currencies that they don't know/understand.


I'd just say:

"Hey granny, you know.. before there was mail, but now there is e-mail. You know that right?"

"Well, Yeah but I don't use it. My phone can only send text Message"

"Yeah well, now there is e-currency aswell"

"Yeah? How does THAT work?"

"Like Money, but it's New so not everyone uses it yet"



/Guru

[Fugofugo]

Nice post, explain to grandparents can be another way of popularization of btc

[jc01480]

Guys, you want a headache?  Try helping granny connect her smart phone to the bluetooth in her Lexus.  Holy mother&$#@.......

Happy Mother's Day

[Beliathon]

Explain? No.

Murder your grandparents, and melt your inherited fiat into crypto. Win at life.

This statement may be considered my professional financial advice as a Bitcoin Professional(tm).

That's not the way to win.

Pfftt.. says the old guy!

In all seriousness, just explain to them what stepwise logarithmic growth is

[BillieGin]

Apparently other people's grandparents are smarter than mine...

[LesterTheEight]

Here's how you can explain it to your grandparents and your kids, as well as anybody else who needs it explained like they're five:

"Bitcoin is money that hasn't been widely adopted."

The end.

[justusranvier]

How to talk to your grandparents about Bitcoin kinda depends on your grandparents.

My grandparents are the kind of people that, if I still talked to them, I'd tell them that Bitcoin is a fad and they should put all their money in tbills and MBS derivatives.

[Schumacher]

I will show this to my grandfather and give you a feedback will he take out his savings from bank to invest in bitcoin or not haha

[vipgelsi]

Best way is to show them a paper wallet.

[runam0k]

Most grandparents probably aren't going to get it... but they - along with Warren Buffet - won't be here long anyway.  Target parents and below instead.

If I had to try and explain it, I'd oversimplify: bitcoins are tokens, a bit like money, but they're stored on computers and phones, and people can send them electronically, over the internet, to anyone, anywhere in the world, almost instantly.  Because people send bitcoins directly to one another, they don't need banks or bank accounts.

[franky1]

when speaking to your grandparents please do not let this be the first sentance out of your lips
"bitcoin is a decentralized, digital money. that is created, held and spent electronically around the world"

it will raise more questions than answers.

try keeping it simple, you dont need to explain all the details using bigwords

its money on used from the computer that is secured by you and not a bank, so theres less fee's and less deays. its money without limits grandma

[googlemaster1]

Explain? No.

Murder your grandparents, and melt your inherited fiat into crypto. Win at life.

This statement may be considered my professional financial advice as a Bitcoin Professional(tm).

That's not the way to win.

Pfftt.. says the old guy!

In all seriousness, just explain to them what stepwise logarithmic growth is

How many times a day do you post that image... rofl

[ArticMine]

Most grandparents probably aren't going to get it... but they - along with Warren Buffet - won't be here long anyway.  Target parents and below instead.

If I had to try and explain it, I'd oversimplify: bitcoins are tokens, a bit like money, but they're stored on computers and phones, and people can send them electronically, over the internet, to anyone, anywhere in the world, almost instantly.  Because people send bitcoins directly to one another, they don't need banks or bank accounts.

For a millennial, when it comes to Bitcoin, your grandparents are a much easier sell than your parents. Keep it simple, like cash you can use on the Internet.

[isidore]

Most grandparents probably aren't going to get it... but they - along with Warren Buffet - won't be here long anyway.  Target parents and below instead.

If I had to try and explain it, I'd oversimplify: bitcoins are tokens, a bit like money, but they're stored on computers and phones, and people can send them electronically, over the internet, to anyone, anywhere in the world, almost instantly.  Because people send bitcoins directly to one another, they don't need banks or bank accounts.

For a millennial, when it comes to Bitcoin, your grandparents are a much easier sell than your parents. Keep it simple, like cash you can use on the Internet.

that's what I usually say. If they want to know how it can't be stolen, I explain the distributed ledger as "all computers keeping all transactions because computers are so powerful now".

[Noruka]

You know, judging by the way my grandparents would keep EVERYTHING, if they were here and knew about Bitcoin, they would be HODLERS de Luxe!

grandparents before the baby boomer generation would

newer grandparents load debt up to pass on to the next generation. The idea that elderly people "save" anymore isn't true.

[Lauda]

Apparently other people's grandparents are smarter than mine...

Yes, while this image is really great. My grandparents didn't even know how to use a cellphone (not to mention a smartphone).

[Boris-The-Blade]

I shall be stealing this, Thanks +1

[PeterReid]

Most Grand Parents are scared of things like Bitcoins and technology.

[ArticMine]

Apparently other people's grandparents are smarter than mine...

Yes, while this image is really great. My grandparents didn't even know how to use a cellphone (not to mention a smartphone).

Who cares. One does not need a smartphone or mobile device to use Bitcoin. In fact I used Bitcoin for over 18 months before placing a single satoshi on a smartphone or mobile device. Do not assume that somebody rejecting the technology of their children’s generation means they will not embrace the technology of their grand-children’s generation. They may surprise you. In fact one of the major selling points to a grand-parent of Bitcoin is the shortcomings of the payment technologies of their children’s generation such as for example debit cards or PayPal.

Edit: When introducing Bitcoin to a senior I would start first with desktop clients and using Bitcoin for online purchases. 

[Beliathon]

How many times a day do you post that image... rofl

No matter how much I post it, it will never cure all ignorance. Only time has this power.

[samm1129]

Have been trying to explain to my Wife for the last year and still no progress.

I wouldn't even begin to know where to start with grandparents. 

[counter]

I tend to believe the only real problem is that there is a fear of what is unknown.  They will be intimidated by the computer then the large numbers used to identify their wallet address etc.  The best way to show them is to show them how to make a transaction or five and then let them try.  This is should be viewed as an intimidating task for anyone especially someone who didn't grow up around computers..

[Asianconnect]

Actually I don't know how to explain it to elders, but i think it would be great to share some of my ideas about BTC then they will be aware of what bitcoin is.

[JohnFromWIT]

when speaking to your grandparents please do not let this be the first sentance out of your lips
"bitcoin is a decentralized, digital money. that is created, held and spent electronically around the world"

it will raise more questions than answers.

try keeping it simple, you dont need to explain all the details using bigwords

its money on used from the computer that is secured by you and not a bank, so theres less fee's and less deays. its money without limits grandma

Second this. That line and similar, have been used to describe bitcoin longer than bitcoins been a thing.
Though it's a nice, tidy summary of what it is, it's not necessary for everyone to know it off heart.

If someone approaches you and asks about bitcoin rather than googling it,
replying with "Bitcoin is a peer-to-peer, decentralised, digital currency"
will give you the pleasure of watching their eyes glaze over and their face display the purest expression of regret.

It's not the hardest thing in the world to understand. We all know how to get to the moon. Very few of us know how to build a rocket.

[oceans]

I would not want to be the one to explain what bitcoins were to my grandparents. That sounds like a task and a half right there just thinking about it. My grandparents hardly understand technology at best so explaining something that needs technology would more than likely go straight over their head.

[jonald_fyookball]

where's the original source for this sheet?  I want to link to it from my site.

[beetcoin]

i don't even bother explaining bitcoin to my mom.. she just can't understand what it is and how it works.

[MasterOwel]

I have legitimately used this with my family. Why is it so hard for people to understand the concept of currency (meaning that bitcoin is a currency)? Bitcoin is backed by the same thing as USD... hope.

[Abdussamad]

I have legitimately used this with my family. Why is it so hard for people to understand the concept of currency (meaning that bitcoin is a currency)? Bitcoin is backed by the same thing as USD... hope.

I thought USD was backed by aircraft carriers?

[virtualx]

I have legitimately used this with my family. Why is it so hard for people to understand the concept of currency (meaning that bitcoin is a currency)? Bitcoin is backed by the same thing as USD... hope.

I thought USD was backed by aircraft carriers?

I guess you are trying to say that the USD is backed by war.

[MasterOwel]

I have legitimately used this with my family. Why is it so hard for people to understand the concept of currency (meaning that bitcoin is a currency)? Bitcoin is backed by the same thing as USD... hope.

I thought USD was backed by aircraft carriers?

I'm not sure if there was a joke somewhere in there, but here's the explanation.

At one point of time USD was backed by gold (or silver?) but anymore there's so much inflation that its backed by the simple usage of it.

[aigeezer]

Yet another ageist thread. They are always very annoying reading for this long-time grandparent.

I'm sorry to hear that many of you have such dense grandparents though. Such conditions are often hereditary, but it is unwise to confound correlation with causality (hint).

Hey kids - did I ever tell you about the time I found two BTC blocks using nVidia cards? Back before the reward halving split in 2012, of course. True story!

Heh.

[Abdussamad]

I have legitimately used this with my family. Why is it so hard for people to understand the concept of currency (meaning that bitcoin is a currency)? Bitcoin is backed by the same thing as USD... hope.

I thought USD was backed by aircraft carriers?

I'm not sure if there was a joke somewhere in there, but here's the explanation.

At one point of time USD was backed by gold (or silver?) but anymore there's so much inflation that its backed by the simple usage of it.

It's backed by the threat of regime change.

[Abdussamad]

Yet another ageist thread. They are always very annoying reading for this long-time grandparent.

I'm sorry to hear that many of you have such dense grandparents though. Such conditions are often hereditary, but it is unwise to confound correlation with causality (hint).

Hey kids - did I ever tell you about the time I found two BTC blocks using nVidia cards? Back before the reward halving split in 2012, of course. True story!

Heh.

Could you get it up without viagra back in 2012?

[AlPutino]

This does not explain bitcoin to anyone who doesn't already understand bitcoin

[Daniel91]

This is very difficult task, really.
If they use Internet maybe they can understand concept of Bitcoin.
If not, just told them that Bitcoin is the ''future money'' and if they invest their money now in bitcoin, they will earn a lot

[FlowerMatt]

"Once you have paid"

A chargeback is not possible if using $, ¥, £ or €. Only when using a third party, like a bank, or a credit card, is this possible. Try charging back a cash expenditure.

[Mr Tea]

I really cannot even imagine beginning to try and explain bitcoin to my grandparents. My nan can't even work a mobile phone and my grandad tries his best with a computer but is pretty hopless, though I don't blame them really.

[BowieMan]

I really think you're trying to do a nice thing here. But if you're initially explaining Bitcoin to people totally unfamiliar with it, or even computers, etc. You may be best off leaving out all technical terms and just stick to the basic principle and advantages!

[ChuckStrawberry]

Bitcoins are backed by products and services? Like a currency is? huh.

[Intaryna]

Here's how you can explain it to your grandparents and your kids, as well as anybody else who needs it explained like they're five: "Bitcoin is money that hasn't been widely adopted". The end.

[DhaniBoy]

i will explain this picture diagram to my grandparents, and i hope they will spent a lot of his money in bank to buy bitcoin and invest it.
thank you ...

[Bit_Happy]

Explain? No.

Murder your grandparents, and melt your inherited fiat into crypto. Win at life.

This statement may be considered my professional financial advice as a Bitcoin Professional(tm).

This "professional financial advice" does NOT represent the views of the typical Bitcoin user.

[Ektra]

Yet another ageist thread. They are always very annoying reading for this long-time grandparent.

I'm sorry to hear that many of you have such dense grandparents though. Such conditions are often hereditary, but it is unwise to confound correlation with causality (hint).

Hey kids - did I ever tell you about the time I found two BTC blocks using nVidia cards? Back before the reward halving split in 2012, of course. True story!

Heh.

Well, yes it does make assumptions based on age, but really you're just very removed from the norm.

[aigeezer]

Well, yes it does make assumptions based on age

That is the problem. It confounds "age" with "resistance to change" or "stupidity" or "low technical ability" or some such characteristic for which the explanation project might be appropriate.

Presumably the actual goal is "to explain BTC to people who don't understand it" (of any age).

Using "grandparents" is a distraction from the actual task, and is a gratuitous insult to many people - for absolutely no gain to the project.

Substitute any other generic group descriptor for "grandparents", preferably one that fits your own demographic, whatever it may be, and feel the sting for yourself. If that's not strong enough, imagine stereotypical corny drawings added for demeaning emphasis, along with stereotypical corny dialog attributed to the target group.

Those things hurt, people, and you gain nothing from it in terms of advancing your stated goal of explaining BTC.

[Cenenigo]

Watch for typos eg "Your have spent"
So this is aimed at the savvy Sir Branson demographic, are you doing one in simpler terms for younger people?

[Jubettarr]

Grandma would probably point out that that "dwarves" is the plural noun, while "dwarfs" is the verb.
Also, that is a long-winded infographic.

[thisisthis]

I've tried to explain bitcoins to my grandparents serveral times but they only understand that btc is a sort of future investment.

[666uazan]

If it is explained in a paragraph, let alone multiple paragraphs, you're doing it wrong: Bitcoin is like Paypal, but Bitcoin is its own currency.

[Riniaiokl]

Two objections:
1) "Probably not at the local grocer yet yet but its any matter of time" - Hell no...
2) "Cutting deep under typical credit card fees" - Grandma does not pay credit card fees...grocer does..

[Tenarlty]

as for me the explanation is pretty simple: paper money is backed by gov. bitcoin is backed by nothing.

[Yeezus]

Tell them it's magical internet money  . I'd just say it's a decentralised digital currency not issued by a central bank or government and is created in a process called mining which is comparable to mining for gold, except computers on the network do all the effort to get them as opposed to physical labour or excavation.

[freedomno1]

That's a long infographic
Then again it is a difficult concept to handle initially so it's a nice addition.
But it needs to handle those groceries ! ^_^

[BitCoinNutJob]

send any noobs to ceoofbitcoin.com for easy answers < however the site needs top answers and community answers