5 Ways to Explain Bitcoin to Your Friends

[Aggressor66]

For us, true Bitcoin fanatics, explaining Bitcoin to the friends can be challenging and often as effective as talking to a wall. Here are 5 ways that could help you thrive if you are looking to turn your fellows to Bitcoin lovers:

1. It’s money, but on the Internet!
The easiest way to explain it is by referring to Bitcoin as “Internet money” that has no physical state, and every transaction is processed using an Internet connection.

2. You are your own bank.
Bitcoin is a digital currency that does not require keeping your funds in a bank account. Your Bitcoins are kept securely in a wallet stored on your computer, however, there are also online wallets that are more secure that do not require downloading.

3. The future is now!
An average Bitcoin enthusiast would explain Bitcoin with the freedom of transaction and anonymity in a currency. Want to go to a different country without ridiculous travel fees? Bitcoin allows you to do so. Annoyed with having to keep track of endless debit/ credit cards? With Bitcoin all you need to remember is your wallet password.

4. Give your friends paper wallets.
More of an ideal way to introduce friends into Bitcoin is by making them figure it out alone. You could hand out paper wallets containing a simple dollar or two with a few easy to understand instructions on where/ how they can use Bitcoin. Watching them be the person to ask every store if they accept Bitcoin or not would be better for a change.

5. The traditional way that leads to puzzled faces and ultimate confusion.
Bitcoin is a peer to peer decentralized digital currency. The transactions are instant, and there are zero to low processing fees. Transactions are processed by miners. Miners confirm waiting transactions, included in the block chain which then enforces a chronological order. The block chain allows Bitcoin wallets to calculate their spendable balance and new transactions can be confirmed as spendable Bitcoins. Wallets work similar to Internet banking but are much easier to use.

There’s still plenty of room on the ways to give a reason for Bitcoin to common people. Hopefully, the listed ones will help you while cryptocurrency will become a mainstream.

[faince222]

Good Guide, I appreciate it so much ! Maybe at the next meeting I'll try to introduce bitcoin to my friends in this way Thank you, If I allow, I'll copy this

[Aggressor66]

Good Guide, I appreciate it so much ! Maybe at the next meeting I'll try to introduce bitcoin to my friends in this way Thank you, If I allow, I'll copy this

 

[QuestionAuthority]

Sell it the way modern media sells everything. Make the person want to find out more and start using it. Tell them it's been statistically proven by world renound scientists that they will lose weight, be more attractive and get laid more if they use Bitcoin. Most people are too lazy to research anything so if you can deliver a convincing pitch they'll believe it.

[bornil267645]

Well that's a very through description, mind to keep it brief.

[toddtervy]

I've seen some videos/ threads on this in the past, I think they had some good ideas that would still apply.

[LiteCoinGuy]

good start. i would add this after some time:

6. It’s not money for the internet, it is the internet of money. 

[bitcoin1992]

What is Bitcoin for dummies - A simple explanation
www.youtube.com/watch?v=yTxmR0n6sCc

[Daniel91]

For us, true Bitcoin fanatics, explaining Bitcoin to the friends can be challenging and often as effective as talking to a wall. Here are 5 ways that could help you thrive if you are looking to turn your fellows to Bitcoin lovers:

1. It’s money, but on the Internet!
The easiest way to explain it is by referring to Bitcoin as “Internet money” that has no physical state, and every transaction is processed using an Internet connection.

2. You are your own bank.
Bitcoin is a digital currency that does not require keeping your funds in a bank account. Your Bitcoins are kept securely in a wallet stored on your computer, however, there are also online wallets that are more secure that do not require downloading.

3. The future is now!
An average Bitcoin enthusiast would explain Bitcoin with the freedom of transaction and anonymity in a currency. Want to go to a different country without ridiculous travel fees? Bitcoin allows you to do so. Annoyed with having to keep track of endless debit/ credit cards? With Bitcoin all you need to remember is your wallet password.

4. Give your friends paper wallets.
More of an ideal way to introduce friends into Bitcoin is by making them figure it out alone. You could hand out paper wallets containing a simple dollar or two with a few easy to understand instructions on where/ how they can use Bitcoin. Watching them be the person to ask every store if they accept Bitcoin or not would be better for a change.

5. The traditional way that leads to puzzled faces and ultimate confusion.
Bitcoin is a peer to peer decentralized digital currency. The transactions are instant, and there are zero to low processing fees. Transactions are processed by miners. Miners confirm waiting transactions, included in the block chain which then enforces a chronological order. The block chain allows Bitcoin wallets to calculate their spendable balance and new transactions can be confirmed as spendable Bitcoins. Wallets work similar to Internet banking but are much easier to use.

There’s still plenty of room on the ways to give a reason for Bitcoin to common people. Hopefully, the listed ones will help you while cryptocurrency will become a mainstream.

Very good explanation, thank you for this!
But, for average people the most important point is what they can do with Bitcoin, where they can spend it?
If ''big'' merchants don't accept bitcoin soon, and if average user will not see where he/she can spend it, I don't think they will be interesting in bitcoin.

[Nikinger]

For us, true Bitcoin fanatics, explaining Bitcoin to the friends can be challenging and often as effective as talking to a wall.

indeed

1. It’s money, but on the Internet!

Good.

2. You are your own bank.

The naysayer would say: If I pile my cash at home, then I'm my own bank too while both methods poses the risk of theft or getting worthless.

My say: He's partially right. An avarge user can't secure his computer properly, thinking it's enough to install a colorful looking anti virus kit. Even Trezor won't help if the victim is too prone to social engineering. I know some peoples who can't even join two pictures with mspaint because they feel it's too complicated to them.

3. The future is now!
An average Bitcoin enthusiast would explain Bitcoin with the freedom of transaction and anonymity in a currency. ... Annoyed with having to keep track of endless debit/ credit cards?

Ok, but anonymity is an argument against bitcoin too. The avarge user says, anonymity is only for people who has to hide something from the eyes of the goverments.

4. Give your friends paper wallets.

Good.

5. The traditional way that leads to puzzled faces and ultimate confusion.

Good, except:

Wallets work similar to Internet banking but are much easier to use.

No, you have to care yourself about security and that's some work to be done. See point 2.

Thanks anyway, there are some good points to start with.

[anneke]

Good work you've done.

It's a very good explanation and very clear.

Thanks .

[irfan_pak10]

Waoo that's a nice explanation. Its really helpful for me. Because I was searching for that type of material so that i can tell my friends about btc.

Thanks again. Really appreciating work

[krunox123]

4. Give your friends paper wallets.
More of an ideal way to introduce friends into Bitcoin is by making them figure it out alone. You could hand out paper wallets containing a simple dollar or two with a few easy to understand instructions on where/ how they can use Bitcoin. Watching them be the person to ask every store if they accept Bitcoin or not would be better for a change.

I once give my friend a paper wallet containing 0.1BTC.
Few days later, he manage to make that 0.1BTC I gave to him to 1BTC.

I was like, "".

[Sam the Man]

Try explaining it to grandparents.... thats the real challenge xD

[BlindMayorBitcorn]

Me: Ok go to a BTM and pay a ridiculous premium for coins that will drop in value tomorrow.
Guy: I thought we were friends, Herp??

[b!z]

That is a very good guide.

It will come in handy if I have friends who do not know much about bitcoin but still want to learn more. You have some good analogies in your post which I can use to explain the concept of cryptocurrency. Thank you very much!

[Aggressor66]

Try explaining it to grandparents.... thats the real challenge xD

[aigeezer]

It is not an age issue. Look deeper than the myths, preconceptions and stereotypes.

[Sam the Man]

Brilliant aggressor

[Aggressor66]

Brilliant aggressor