Question……
How do you explain bitcoin in simple layman’s terms to a newbie?
Question……
How do you explain bitcoin in simple layman’s terms to a newbie?
Bitcoin is money, you can trade it for goods and services or regular money.
Main difference with regular money is it isn't owned by the government and doesn't need inflation. It's owned by the people and has a fixed supply. Meaning money is now worthwhile to keep. Regular money loses value so just get rid of it. Exchange it for whatever you can. Keep the bitcoin for as long as you can
I always start with the basics and explain each concept: borderless, permissionless, open, neutral and censorship-resistant.
Pre-identify which of those properties the person is more motivated to understand and make special focus on those.
People differ on which properties are more important to them.