Re: What is the easiest way to explain bitcoin to a regular person?
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:One hundred pennies equal one dollar
One hundred million satoshis equal one bitcoin
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.
I like these four pillars of bitcoin, lol
. I personally think the concept of don't trust, verify goes alot farther into people's lifestyle than one would think. For example, if you get into a conversation with someone and they tell you, "hey, elephants have 300 bones". That person could be smart or could be dumb, but at the end of the day you do have the internet at the palm of your hands. Are you going to take their word for it? Most people don't, and look it up. You can easily verify yourself that fully grown asian female elephants in fact have 282 bones, using the power of the internet and peer reviewed literature.