Post
Topic
Board Beginners & Help
Re: How do you describe bitcoin to a newbie?
by
Doan9269
on 28/03/2023, 10:21:44 UTC
Can somebody assist me in anyway?
Away from all those terminologies and jargons concerning Bitcoin, I like to explain it the simplest way I can to newbies as two things – legal tender and (2) an asset. Those who understand buying and selling will easily catch up with that. I don't like being highly technical when teaching anyone Bitcoin because it can be confusing and exhausting for the learner and then make them lose interest.

In addition to this, bitcoin is just a digital form of money you can spend, it is decentralized, it's not fiat or cbdc, bitcoin is a cryptocurrency, you can exchange your fiat to bitcoin on exchanges via p2p network, you can make your bitcoin serves as your profitable investment by holding it in your decentralized wallet and ultimately know that bitcoin is volatile, which means it's price is not fix, it can rise and fall, and you can't loose your entire asset at this cause, finally know that bitcoin is not a ponzi scheme where you get rich quick and loose everything as well.