Quote from: ReiMomo on December 20, 2021, 06:25:43 PM

Quote from: Sirait on December 20, 2021, 04:33:33 PM

Quote from: Myleschetty on October 22, 2021, 09:30:15 PM

There's a friend about Bitcoin last 2 years who have no interest in it but I was surprised when he came to me last week to tell me what he need to know about Bitcoin. I asked him why the sudden change of heart, he told me about the testimony he hear from someone and how he would have made enough profit effortlessly.

He's still a newbie. My question is, is there a way or link for to explain Bitcoin to newbies?

Apart from the forum rules and regulations is there a thread on this forum that explains in detail the whole concept of crypto currency on this forum?

now it has been widely spread on the internet and on youtube explaining what bitcoin is, just type it in a search but the problem is whether they believe in bitcoin regardless of the wishful thinking of big profits?

Many beginners don't realize that bitcoin is a very volatile asset, if they can't hodl it then when the market is bearish they will sell their btc.

When beginners think of Bitcoin, the next moment they imagine of a huge profit if they invest in it so and thats how the media and friends around, have showcased as getting profits by investing some money into Bitcoin. But they tend to realize after they invest what is real and how the profit should be gained. Yes, they need to either learn by themselves or someone has to explain them about the volatile market and how it moves. Everyone might have gone through such situation when we pitched into this forum or when we invested into bitcoin.

I would simplify it very easy, I ask you how much you have saved in your bank? According to what they tell me, I take out the annual interest, which I am sure will never reach 20%, however I take it out, and then I tell them, well, your annual interest can do it in BTC in just 3 or 4 months, and if you have good luck you can see it at more than 24% and not annually, of course those who are traders get more than that, but it is good to let them know that this way of moving money is better than leaving it in a bank where large corporations earn with your few cents, I think that's the easiest way to explain it, through the numbers.