How do you explain to your family what #bitcoin is in the most simplest of terms
#asknostr
Discussion
Digital gold that you're expected to report to the government and forced to pay taxes on at gunpoint.
The explanation I always use is “bitcoin is the engineering solution to money and savings. It is a money designed to fix inflation, the problems with gold and with banking.”
Those two sentences are usually enough to find some area of interest for most people and get a reasonable dialog going.
Bitcoin is digital money that you can send to anyone, anywhere, without needing a bank.
It's like cash on the internet — you control it directly.
It’s limited — only 21 million will ever exist, so it can’t be printed endlessly.
It runs on a decentralized network — no single person or government controls it.
It’s secured by computers around the world.
You can own a computer that secures it if you wish.
Money that cannot be debased
