I'd like this thread to be a discussion on creating a sort of script on how to go about briefly explaining Bitcoins to the average person. Word of mouth has played, and will continue to play, a huge role in Bitcoin's adoption, and so it makes sense that we're all prepared to explain it efficiently and effectively.
If you had 45 seconds, through an informal conversation with a friend, how would you explain it, it's benefits, and why the person should consider buying some?
Some of the common responses i've received are:
1. I can already buy stuff electronically with a credit card.
2. WTF does cryptocurrency mean?
3. Can't I just get hacked?
4. Can't someone just hack the bitcoin code?
5. So it's just electronic gold?
6. Why can't someone just make fake coins?
7. Blockchain? Hashes? Confirmations? This is all too technical for me, I don't even understand what code is. I'll just stick with the paper dollar in my hand, can't hack that.
8. So would a retail store have a separate price for Bitcoins since it cuts out the cost of "middle men"?
Add your own.
If you get those kinds of reactions, then you're explaining it wrong. Even more so if you only had the 45 seconds you suggest. Unless the person you are speaking with already knows a lot about a very related subject, there is no reason whatsoever to mention anything about the blockchain or confirmations in your introduction of bitcoin. Keep it as simple as possible, comparing it to things they already know about (even if that is not 100% factually correct). And work from there in future conversations about the subject. There is no need for them to know everything instantly. Attempting to convince them to buy some is waywaywayway to early at this stage.
When you introduce someone, for example, to online banking, why would you even begin to explain what steps the banks take to technically get the money from one account to another? They don't need that information at first (and may never need it).
Also, for such subjects, there is no 'average person'. You can't use a list of prepared oneliners to throw at them, you need to know who you are talking to, because otherwise, you're talking about two totally different things. You might think you're telling them about 'a new kind of money', but all they hear is 'something nerdy to do with computers'.