How to explain why Bitcoin exists to a layman:
Start where they are at
Show the state of the world by showing:
Explain that the interest payments on the debt are now more than the spend on US defence
Explain that people that hold it and understand it are doing so as it’s outside of the ‘normal’ system. Much like why people have held gold in history
Don’t advise on whether to buy it – advise studying it
Explain why you hold it (if applicable), e.g. an alternative / insurance for 1% of my portfolio. If I lose 1% I don’t mind, but it has a history of growing substantially.
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