Post
Topic
Board Beginners & Help
Re: Explaining Bitcoin to non-technical non-savvy people
by
WebMaka
on 30/04/2013, 00:05:12 UTC
The way I describe it is that the "coins" themselves come from "blocks," and a "block" is a valid solution to an extremely complex math equation. The difficulty in finding a solution that works is what gives the "block" some sort of value, and the value base (the actual trade of something for something else that creates value in a currency) is that you're consuming electricity in exchange for these valid solutions.

Most folks seem able to wrap their minds around this.