Does anyone have any suggestions on how to explain cryptocurrency to friends/family, and why they may want to know what it is? I've been running into roadblocks trying to explain it, they usually just don't understand it and dismiss it.
How to Explain Cryptocurrency
8 years ago by dwil570 (38)
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This video is a little bit old, but I think its a good simple way to explain it to someone who knows nothing about it. Also tell them that this video was posted almost 2 years ago, when 1 bitcoin was around $600. Today 1 bitcoin is worth over $2,500.
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I also LOVE how they did this bitcoin commercial. Tell them that if they want to invest their money in something booming right now, they should buy some coins, let them sit, and the price/value will grow on its own over time.
It's not a scam, not a scheme, and not illegal.
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After they get to the point where they begin to understand it, show them this. This video completely breaks down the technology UNDERNEATH bitcoin, blockchain. Tell them this is what makes cryptocurrencies like bitcoin and ethereum so special.
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