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    Author Topic: How to explain BTC values to co-worker  (Read 554 times)

    • Dudeperfect
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    January 21, 2018, 09:05:12 AM
     #21
    I think focusing on the decentralization part would definitely help you to explain about Bitcoin and blockchain technology to your friends and co-workers. Never ever going to buy or invest in Bitcoin or any other alternative. Because it is something that the other person might not take in a natural way. Try to differentiate the traditional model of payment on the international level and compare with the benefits that we are getting from using Bitcoin for the same transactions. Also, explain your coworkers about the current limitations of Bitcoin and future scope of it when we will find the solutions for the current issues.

  • welljo0108
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    January 21, 2018, 09:13:43 AM
     #22
    Quote from: l4w on January 20, 2018, 11:25:41 PM
    Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?
    Explain the best way to earn and what does bitcoin to our everyday needs and what is the value of it than our currency .

  • FUD Expert
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    January 23, 2018, 03:11:12 AM
     #23
    I just want to clear that it's not backed by government and I hope it's just a typo in your post. Explain them that the powerful technology behind btc which is the blockchain  is what makes it very valuable.

  • blueteam09
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    January 23, 2018, 03:57:48 AM
     #24
    Quote from: l4w on January 20, 2018, 11:25:41 PM
    Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?
    Trying to explain it really hard. As the market continues to decline and worse news about it makes explaining to my colleagues more difficult. But I often tell my colleagues the volatility of the market is helping many people make a profit that's why we should not scare it.

  • imteaz
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    January 23, 2018, 04:01:40 AM
     #25
    Well, i tried to explain it to my friends, but they think it's scam. No matter what i tell them, they wouldn't believe it. Always find a way to make an point, how people will get burned, lose all money and its bubble, etc etc. So now i stop explaining.. some people don't trust the currency they can't see.

  • Meysa_richa
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    January 23, 2018, 04:05:59 AM
     #26
    Your explanation is correct that the number of requests to make the value of bitcoin prices always go up, we know with the science of commerce that bitcoin system runs, and the reduced inventory makes bitcoin as a rare and special item.

  • andrei56
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    January 23, 2018, 05:05:54 AM
     #27
    Quote from: nightmanisrightman on January 20, 2018, 11:30:14 PM
    I think you meant to say a currency which isn't backed by government or corporation yes? It is going to be quite tough to try and explain this over 5 minutes but the brief points you can make are that centralized authority when it comes to money has failed us time and time again. Knocks down borders and payments can be made to anybody internationally and received in less than a minute (not confirmed but acknowledged). The 4-5 billion people who don't have access to banking services soon via cell phone will have access to banking and any bitcoin wallets. This is the tip of the iceberg but if you explain this it will hopefully be enough to make them look further, which if they are critical thinkers they most definitely should give it a look.
    To this I will add true ownership of our money, the money we use in our everyday lives does not belong to us, you just need to look at how quick your bank accounts can be closed or seized even when you have done nothing wrong and you need months explaining why they made a mistake, this does not happen with bitcoin where you are the only to decide what happens to your coins, this is why the wallet of bitcoin is not just a piece of software where you have your coins, it gives to you the same power as any bank around the world, tell them this empowers the people around the globe.

  • l4w (OP)
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    January 23, 2018, 12:24:04 PM
     #28
    Thanks for all the comments boys! I'll be at work tomorrow and I will try to explain them when the topic comes up. I'll make sure to use all your tips, thanks again!

  • Alyona@SmartO
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    January 23, 2018, 12:32:29 PM
     #29
    Hi there,
    I'm new here, but it is interesting for me to learn more about bitcoin. Could you help me?

  • LSt56
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    January 23, 2018, 12:32:57 PM
     #30
    Good friends reply, it is true that affect the price of the amount of supply and demand. If everyone thinks the coin has good functions and benefits then the price will be higher.

  • hao2067755834
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    January 23, 2018, 12:52:59 PM
     #31
    Explain in popular language!
    Bitcoin is a virtual currency, but it is a small quantity that has the ability to appreciate and can be bought and sold, and you can buy and trade as long as the merchant recognizes it.
    When they get to know BTC, they will look up the relevant information themselves.
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  • chillitabit
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    January 23, 2018, 12:54:32 PM
     #32
    Quote from: odolvlobo on January 21, 2018, 12:48:29 AM
    A bitcoin does not provide income, so it's value is based on its utility. Because Bitcoin basically has no utility right now, the current value of a bitcoin must be the discounted value of the future utility. In other words, if a bitcoin will be worth something in the future, it must be worth some fraction of that now.

    or it can be considered to store the value

  • krishnaverma
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    January 23, 2018, 01:06:04 PM
     #33
    It is the matter of interest. If a person is not having interest in Bitcoins, it is hard to make him understand the importance of Bitcoins.
    Signature available for rent

  • stephylarde
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    January 23, 2018, 01:21:57 PM
     #34
    Quote from: odolvlobo on January 21, 2018, 12:48:29 AM
    A bitcoin does not provide income, so it's value is based on its utility. Because Bitcoin basically has no utility right now, the current value of a bitcoin must be the discounted value of the future utility. In other words, if a bitcoin will be worth something in the future, it must be worth some fraction of that now.
    Bitcoin is a type of cryptocurrency, a digital currency powered by the combination of various technologies. There are no physical coins. Only account balances that are stored on a distributed, public ledger. It can be used as a store of value or as a currency for online transactions. It’s money that you can’t see or touch (kind of like a credit line), but you own it!

  • creeps
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    January 23, 2018, 01:36:49 PM
     #35
    Quote from: blueteam09 on January 23, 2018, 03:57:48 AM
    Quote from: l4w on January 20, 2018, 11:25:41 PM
    Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?
    Trying to explain it really hard. As the market continues to decline and worse news about it makes explaining to my colleagues more difficult. But I often tell my colleagues the volatility of the market is helping many people make a profit that's why we should not scare it.

    Before you explain bitcoin to anyone you should know it at the first place so you can give them the right information and help them fully understand the function of bitcoin. Its really hard to encourage people to use and invest on bitcoin but in this little things we can make difference.

  • MoonHodler
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    January 23, 2018, 01:54:48 PM
     #36
    maybe share some simple YouTube videos about it with them.
    Enjoy your life, one day at a time. Bitcoin Address: 1HrWs3tDzWr13zocV3qP9ENRLgiDuewtsu

  • yonjitsu
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    January 23, 2018, 02:13:58 PM
     #37
    You have to  introduce him first about what cryptocurrency and blockchain technology is. After that, you have to tell him directly what bitcoin is, what it it can do, and make some comparison and state some disadvantages and advatanges about bitcoin, fiat, and gold. Finally, tell him what is bitcoin's value today.

  • Hmei777
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    January 23, 2018, 02:30:18 PM
     #38
    Quote from: l4w on January 20, 2018, 11:25:41 PM
    Hey guys I'm pretty new so forgive me if this is the wrong place to ask this; recently in my office my coworkers started talking about crypto and Bitcoin. All of them knew about it but they didn't really understand why it is so expensive, I explained them that it's basically supply and demand and that there is a limited supply but they didn't really understand how someone can put that much value onto a currency which is backed by a corporation or government. Do you have any idea how I can explain them better that Bitcoin is representative for crypto and it's gonna be changing a lot of our daily lives?
    you should better understand about this that bitcoin values ​​are based on their usefulness, so bitcoin can help meet our financial needs in the future. you can tell your colleagues that they understand that.

  • KesoNie
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    January 23, 2018, 02:30:46 PM
     #39
    Quote from: imteaz on January 23, 2018, 04:01:40 AM
    Well, i tried to explain it to my friends, but they think it's scam. No matter what i tell them, they wouldn't believe it. Always find a way to make an point, how people will get burned, lose all money and its bubble, etc etc. So now i stop explaining.. some people don't trust the currency they can't see.
    I also tried to explain it to my friends and to my brother too, but guess what they also think that it was a scam also. Well, I guess they are being used to hear those news of mine regarding online businesses because I've done a variety of online business way back 2015 and like what many I'm also failed and experience those failures somewhat makes me feel afraid of trying again, but then here I am in this world of digital currency which now I can say that I've made a right choice, and i would show to those my friends that choose to not believe in me.

  • Hmei777
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    January 23, 2018, 02:41:55 PM
     #40
    Quote from: krishnaverma on January 23, 2018, 01:06:04 PM
    It is the matter of interest. If a person is not having interest in Bitcoins, it is hard to make him understand the importance of Bitcoins.
    you are really very difficult to get people interested in bitcoin, especially if we do not have any strong evidence to make them believe you for example benefit from your hard-earned work in bitcoin. let alone a beginner explaining it.
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