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Easy and simply way to explain what is it bitcoin to common people

Posted: Thu Nov 19, 2015 12:40 am
by exorter
Lately i met some people around my home and they start curious and asking to me what is it bitcoin exactly.
i know bitcoin since 2014 and i still don't know how to explain it simply and easily. have we explain like "bitcoin is cryptocurrency that mined using SHA-256 algorithm" is that explanation will make common people understand? no. so i just says bitcoin is a cryptocurrency/digital money . you can spend it everywhere in the internet. just it.
any other way to explain what is it bitcoin in simple sentences but easy to understood?

Re: Easy and simply way to explain what is it bitcoin to common people

Posted: Thu Nov 19, 2015 11:26 am
by LiteCoinGuy
Hi exorter,

to say "bitcoin is cryptocurrency that mined using SHA-256 algorithm" will not work very well ;-)

if you want to explain it very simple i would say:

Bitcoin is money and a new invention. You can sent any amount to to anyone on the planet, instant and for free without asking anyone for permission. You can sent money/bitcoin as easy as an email.
That was not possible before the invention of bitcoin.

With that you can cover the money aspect of bitcoin which is enough for your little small talk :)

Re: Easy and simply way to explain what is it bitcoin to common people

Posted: Thu Nov 19, 2015 3:11 pm
by EricRSammons
There is a saying in marketing that "you don't sell the toothpaste, you sell the whiter teeth." When someone asks you what Bitcoin is, you need to begin by telling him how it might help him, instead of explaining exactly what it is. If he sees a personal benefit, then he will be interested in finding out more of the details.

So, for example, you could focus on Bitcoin as a payment system, noting how Bitcoin is more resistant to fraud than credit cards. Or you could mention Bitcoin as a store of value, noting that, like precious metals, it can be a better vehicle for long-term savings than a savings account at .2% or a money market account. If the person is particularly socially-conscious, you could note Bitcoin is not controlled by the government and therefore can't be printed to fund new wars.

There are of course a number of other benefits to Bitcoin, and you should focus on the ones that your friend is most apt to be interested in. Once you have piqued his interest, you can start pointing him to websites or videos or books that explain it more fully.

Re: Easy and simply way to explain what is it bitcoin to common people

Posted: Thu Nov 19, 2015 4:49 pm
by LiteCoinGuy
good idea.

i guess for most people like to safe 10-20% at amazon for example:

https://purse.io/

or at starbucks:

https://foldapp.com/