I personally know quite a bit about Bitcoin. However, this thread is for the community here. The idea is every post should contain NEW info which hasn't previously been posted in this thread.
For example, I will start with the obvious: Bitcoin is internet money
Is this a perfect explanation? Of course not. This is where you come in.
Please post the most detailed aspects about Bitcoin you know, without repeating any info previously posted in this thread.
The idea is as we scroll down, the discussion should get continually more complicated as we dig further into the technology, development, history, etc.
Make sense?
So I will repeat the starting point: Bitcoin is internet money
Bitcoin is something that is simple to understand.
If asked what is bitcoin (abbreviated BTC), then the simplest explanation is:
Bitcoin is a decentralized global transaction cash system. (Reported in Bitcoin.org), actually Bitcoin is:
a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution .
it is better if he can take a visit at bitcoin.org and he can read by his self about bitcoin and he can try to learn about what is bitcoin. I think he can find much of information on that site especially the details about how to get the wallet for bitcoin because this is the main of bitcoin and we need a wallet to save our bitcoin.