0. What is Bitcoin?
I can assure you that diving into the technical aspects of bitcoin will scare off not only
your Dad (or Mom), but also most average people. These points should be stated very superficially.
0.1 Why does Bitcoin have value? Isnt it just hot air?
Any currency (not just bitcoin) is given value by peoples faith in this asset.
Why does the dollar have value? It's just a piece of cut paper. There is a certain consensus in the world that the dollar has value, therefore, anywhere in the world people are ready to accept this currency. There is no actual, real, tangible value in any currency. Value is an abstract quantity and varies greatly depending on supply and demand.
The same goes for bitcoin, whose value is based on our belief in that value and that the value of the asset will increase over time. The dollar has the opposite effect - the value of a unit of this currency decreases over time.
1. Buying Bitcoin to protect yourself against inflation
This only works for long-term investing
distances. Over short periods of time, this effect may be zero due to the high volatility of this asset.