Quote from: TheJohn on July 10, 2014, 01:11:29 AM

Quote from: Squidoogeek on July 08, 2014, 01:59:27 AM

Okay, so a relative of mine who has never heard of Bitcoin in her life was asking me exactly how it worked. I tried explaining, but I'm not entirely sure she got it (or she was just refusing to comprehend what I was saying -- she does that sometimes). I suppose I could show her a few of the same videos I watched when I first heard about Bitcoin, but I'm not even sure she'd even really watch them. Any tips, guys?

Show him the bitcoin video first then only explain, it should be easier.

I like to explain the whole mining situation like this...

people get 'paid' to record the transactions of other people.

making 'blocks' takes all the transactions from the last agreed upon event (another block) packages that shiz up and signs off saying... hai guys, this shit happened over here...
but to package up and sign off on those transactions they have to generate a fancy bomb looking ass stamp that gets even more intricate over time that everyone else is cool with...

that is why when a block reward is given... they also receive the transaction fees!

but then you gotta tell em that nowadays nobody on their own can be as artistic as required to generate those fancy looking stamps... they gotta get a whole room full of monkeys to work on their own part of it of the stamp