Quote from: KingTylerVVS on July 06, 2016, 09:28:19 PM

"Do you know what paypal or western union is? Well bitcoin is just a brand name for a similar payment network. Except unlike those others, bitcoin is not owned by a corporation - it is owned by the people. Also, if you send 1 million dollars through paypal or western union you get charged 10% or $100,000, and likely the funds are frozen forever, if you send it through bitcoin you only get charged 7¢ and the person you send the funds to gets them the same day."

This is a terrible way to explain Bitcoin! You use irrelevant arguments.
Yes, I know what Western Union is, and no, I've never used it. And even if I did use it, I wouldn't use it to send 1 million dollars! I use Paypal, which - unlike Bitcoin - has no charge for the sending party. And in Paypal too, I don't send 1 million dollars. Even if I would have 1 million dollars and wanted to send it, I wouldn't use either one of these companies for it.

For the 7 cents transaction fee: that's barely enough to get your transaction confirmed nowadays. If I go to blockchain.info now, click the last block, and click the first transasaction, it uses $0.83 fee for a 223 bytes transaction worth a few dollars. That's what you need to pay to get priority from miners.
But even better: if I would like to transfer 1 million euro (I don't live in the USA), I can do it by bank. Without any additional charge (I only pay a few euros fixed fee per month for my account).

I pay in shops with either cash (businesses estimate processing it costs a few cents per transaction) or debit card (which is even cheaper for the business than using cash). I recently ordered dinner online using Bitcoin, and my Priority fee was higher than this.

I tried to explain it recently, when I say: "it's a digital wallet" I get the question "but it has to come from an account".
Maybe the whole approach is wrong! People don't need to understand it to use it. Just like almost nobody understands the concept of "money" in general. People think banks lend out money from savings accounts, and banks want people to keep thinking that.