Post
Topic
Board Bitcoin Discussion
Re: What is the easiest way to explain bitcoin to a regular person?
by
Jawhead999
on 02/03/2023, 03:56:18 UTC
People are too afraid to jump in because it's "too expensive" just to own one.
This is why people are having a wrong understanding, they don't have to buy one Bitcoin, but they can buy in fraction e.g. 0.005 BTC.

Quote
I personally like to use the penny/dollar : satoshi/bitcoin example.

One hundred pennies equal one dollar
One hundred million satoshis equal one bitcoin
Are you really teach Bitcoin to a regular person with this? you're teach in a wrong way because Bitcoin price isn't pegged with USD price, actually what you're explain is a stable coin. I don't think it's confusing to understand about the fractions of Bitcoin, what most people don't understand are:
1. Bitcoin isn't a quick get rich tool.
2. Exchange isn't a wallet.
3. Bitcoin doesn't help poor people.
4. The concept of don't trust, verify.