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+--- Thread: How would you explain bitcoin/crypto to family or friends? (/showthread.php?tid=5644423)
How would you explain bitcoin/crypto to family or friends? - Nokia- - Jun 11, 2017
I would personally just show them that video as it covers a lot of the basic information required to understand the way BTC works and functions.
Explaining crypto-currencies would probably fall under the same category in my opinion but the concept of investing and trading may be a bit harder to explain since the currency is digital, it was a hard time for me trying to explain to my parents that I made some money from practically nothing as they were questioning everything I had to say for myself, but then again, not everyone has such a deluded family like myself.
I'm not too sure teenagers or children outside the trading/investing world would be that interested in how bitcoin works exactly. If anything, they'd be more interested in just using it and what cool things they could use it for. Kinda like mobile phones. They don't care exactly how a cell phone works, only that it allows them to communicate, socialize and express themselves in various ways with their friends and peers.
Teenagers (most of them anyways) don't care how the internet or computers work exactly. They just care about using the internet and computers along with all the apps and games.
* - mybankisemptyy - Jun 11, 2017
Digital currency. Simple.
* - Nokia- - Jun 11, 2017
(Jun 11, 2017 12:19 PM)mybankisemptyy Wrote: Digital currency. Simple.
If someone asks you what bitcoin/and or cryptocurrencies are and how they work all you will answer them with is "it's a digital currency"? I'm sure they wouldn't accept that as a reasonable answer.
Perhaps imagine yourself giving advice to a person who wants to get into the whole trading/investing scene and needs to know information about the markets, wallets, blockchains and other things that I cannot think of off the top of my head.
* - PotatoBlood - Jun 11, 2017
It's a hell to explain cryptocurrencies and all their uses and differences to people that don't have much technical background, it's all fake monopoly-money in a scam for them.
* - Nokia- - Jun 11, 2017
(Jun 11, 2017 01:37 PM)PotatoBlood Wrote: It's a hell to explain cryptocurrencies and all their uses and differences to people that don't have much technical background, it's all fake monopoly-money in a scam for them.
I honestly couldn't agree with you more here. I'm currently twenty-one years of age and around two/three years ago I made a decent profit from bitcoin and litecoin. She thought I was scamming people online and stealing their money because of the income I was bringing in, she actually mentioned exactly what you said. It took me around two or three years to convince her and show her what I was actually doing. Time went by and she asked me to invest some of her funds in a cryptocurrency where I would guarantee her a profit and guess what, she made around 300% ROI up to date with ETH.