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Emma William

How to explain Bitcoin to those who do not know it ?

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Explaining cryptocurrency to older people is a bit troubling indeed, I just say it is a kind of digital money. imagine your money stands in the banks and you use your credit cards to do your shopping. cryptocurrencies are like that I always explain them the issue in this manner 

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I would explain them by telling them that it is a digital currency that works as a digital asset that with that currency you can get a lot of money and that many people have changed their lives by occupying cryptocurrencies since they have many profits and it is a currency that has a lot of voting mobility where they can  To also make a lot of profits is a new financial system that can help you a lot at this same time and in the future.

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Explanation sound more interesting to the listeners if it's accompanied with practical aspect of changes in the presenter level and economic status. Meaning he has to explain with good example of the amount and success made from the sites

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My dear friends btc is  a cryptocurrency and its price is too hight with the help of this currency investors earn profit daily and they are become rich with this currency because now the value of btc is $20000 and its too good price and in the future it will be increase more so try to inevst in btc for more profit. I am also inevsting in btc for profit.

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Explaining bitcoin to those who are not attracted to the digital world is very difficult. Explaining this is even more difficult to those with old prespectives and old fashioned. But now a days the fame of bitcoins is increasing and it is becoming inevitable for some of the organizations. World has to admit the importance of the bitcoin. By reading this post i am somewhat able to explain bitcoin to anyone. Thanks for sharing such an informative post.

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Yes tell me about bitcoin because i have no idea about bitcoin .is there any one to give me some information abuot bitcoin 

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Bitcoin is a digital and global money system currency. It allows people to send or receive money across the internet, even to someone they don't know or don't trust. Money can be exchanged without being linked to a real identity. The mathematical field of cryptography is the basis for Bitcoin's security.

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On 11/8/2020 at 12:43 PM, Dorjoy12 said:

 Every time whenever i wanted to explain about bitcoin to my friend and family they thought bitcoin is the part of gambling as the btc price dump and pump hugely..  I dont know exactly how much your Information will work to explain the people..  But i think it will be better if we give them the prove of btc payment system which can give us real money then they might understand the value of btc.. Though still my neighbours dont believe on me and thought i play gambling as i said you above..                         

@Dorjoy12  as like my family and friend circle also don't know bitcoin,  when I try to explain about bitcoin they do not  believe my words they says this type any currency not existence and this is all fake,

I show my payment proof's even iam show some YouTube videos then also they didn't convince, they are all today's generation peoples but they don't understand bitcoin, 

then imagine how much hard to explain old generation peoples.

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9 hours ago, Honny143 said:

show my payment proof's even iam show some YouTube videos then also they didn't convince, they are all today's generation peoples but they don't understand bitcoin, 

then imagine how much hard to explain old generation peoples.

@Honny143  dont waste your time to explain about crypto to those people who dont try to understand what digital currency actually is..  Those people who try to realized that present world now based on online then they will easily realized how btc work..   Therr has different kind of people too in old generation..            

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thank you for sharing this facts, it's far beneficial for brand new individuals, and we find it tough when talking about and explaining this field and we have to simplify the information to be absorbed by way of others. correct good fortune...

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32 minutes ago, Dorjoy12 said:

@Honny143  dont waste your time to explain about crypto to those people who dont try to understand what digital currency actually is..  Those people who try to realized that present world now based on online then they will easily realized how btc work..   Therr has different kind of people too in old generation..            

@Dorjoy12  now a time I already drop my idea to explain anyone about bitcoin, because I know few years afters they know the importance of bitcoin, because in future bitcoin change so many thinks and do so many thinks easy.


 

   

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On 12/8/2020 at 6:39 PM, Ashuaeeb said:

Bitcion to is difficult for people to understand and some people will say that it is waste of time. Work is really important even for the bigginners in order to believe in cryptocurrency project. 

You are right, explaining and teaching about bitcoin to thus who don't have any idea about it is very difficult  i have been trying to teach my family and friends about bitcoin but they keep saying its not true and they say its not real, 

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 Bitcoin is the first digital currency which was invented and its price was very low at the time of its creation but it's worth keep on increasing with the passage of the time and now it is regarded as the most precious and profitable currency in the world. Its prize has been increasing day by day and reached to the value of about 20k dollars. With the passage of the time many other cryptocurrencies also take place in the market of crypto but no one could damage the price of Bitcoin. The expertise of cryptocurrencies are predicting that the price of Bitcoin can be reached to millions of dollars incoming decade.

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On 11/6/2020 at 10:58 PM, Emma William said:

How to explain Bitcoin to those who do not know it ?

1538754026_(1).jpg.7e92e6e95383cf1ac8b337f508385922.jpg
It is a complicated thing in most cases and the reactions are very different, in some societies ideas are accepted very openly, and in some others you feel that you are explaining your ideas to one of the doors of the house and the topic may be embarrassing for you.

8d80c4d89e1845dd80c491dd89396807.png.8515f944cbf234e96f7274824b28edab.png

I will offer some ideas that can facilitate the way you explain the digital currency project to them
 

  • The digital currency is intangible ... but it can be converted into tangible money (metal money - paper money)
  • Bitcoin is like fiat currencies or coins .. But the difference is that Bitcoin is stored through electronic devices or wallets
  • With regular money, you always know who you are with. But with cryptocurrencies you do not need to know who the person is, you just need to connect to his wallet address
  • With regular money, you have to pay high fees when sending money because the money has to move from one bank to another and those banks charge fees. With crypto money, you don't need to pay exorbitant fees because the money goes directly to the other person's electronic wallet
  • In order to withdraw and deposit regular money, you need banks ... But using digital currencies, your bank is on your mobile phone or on your PC.
  • With digital currencies, you can do without work! Because the digital currency project provides you with many ways to make you self-sufficient and do not need work! (By investing - mining - trading - gambling)
  • Through digital currencies, we can buy many things (video games - books - clothes ... etc.)

 

cryptobasketsicon_small.png.bf10f6297acd34bc2895f83855e0730b.png

Who Don't know about bitcoin, explaining them about bitcoin is really complex.  But your post will help them a lot.  You collected and share the main points about bitcoin in your topic.  Its really a very  nice way to share.  I just suggest you to create some more post about bitcoin, it will help them more  

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it seems to me that if a person is not interested in a particular topic, then it is useless to tell him anything. But I think if it's different, it's easy to tell him. Alternatively, explain what bitcoin is and how it works, for example, what the blockchain system is.

This system is very similar to our usual one, like fiat, only digital coins that have their own special property, and do not have a specific link to the state, only to one system!

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It is true that it's difficult to elucidate cryptocurrencies to several people, especially the elderly, but by taking advantage of those methods that are mentioned in your topic, you'll quickly simplify their understanding, and it's good to undertake that with them, like sending some currencies by wallets or teaching them easy ways to earn.

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I can show them earning proof of those people who earn good amount of money in bitcoin because if i explain in my own words it is very difficult for them to understand and he cannot believe but when he get payment proof and watch tutorial videos about bitcoin they can easily understand and believe on bitcoin reality

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Indeed, a good and concise method for Bitcoin currency and it will benefit all members who are interested in financial business and love Bitcoin. Thank you for the important clarifications that you constantly provide.

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As bitcoin is the most safe and secure and also trusted currency, so more and more people should have information about it. The information that you gave is very useful to all those people who still do not know that clear meaning of bitcoin. 

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On 11/6/2020 at 9:58 PM, Emma William said:

How to explain Bitcoin to those who do not know it ?

1538754026_(1).jpg.7e92e6e95383cf1ac8b337f508385922.jpg
It is a complicated thing in most cases and the reactions are very different, in some societies ideas are accepted very openly, and in some others you feel that you are explaining your ideas to one of the doors of the house and the topic may be embarrassing for you.

8d80c4d89e1845dd80c491dd89396807.png.8515f944cbf234e96f7274824b28edab.png

I will offer some ideas that can facilitate the way you explain the digital currency project to them
 

  • The digital currency is intangible ... but it can be converted into tangible money (metal money - paper money)
  • Bitcoin is like fiat currencies or coins .. But the difference is that Bitcoin is stored through electronic devices or wallets
  • With regular money, you always know who you are with. But with cryptocurrencies you do not need to know who the person is, you just need to connect to his wallet address
  • With regular money, you have to pay high fees when sending money because the money has to move from one bank to another and those banks charge fees. With crypto money, you don't need to pay exorbitant fees because the money goes directly to the other person's electronic wallet
  • In order to withdraw and deposit regular money, you need banks ... But using digital currencies, your bank is on your mobile phone or on your PC.
  • With digital currencies, you can do without work! Because the digital currency project provides you with many ways to make you self-sufficient and do not need work! (By investing - mining - trading - gambling)
  • Through digital currencies, we can buy many things (video games - books - clothes ... etc.)

 

cryptobasketsicon_small.png.bf10f6297acd34bc2895f83855e0730b.png

Dear thank you so much for this kind information. It is really very informative for me. Firstly my brother told me about bitcoin and he tell me about their benefit and history and he told me to select this for investment amd trading and I elect it many times and always get a profit through it and now I like it and always elect it and also prefer to others .

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Bitcoin is so famous that I think that every person know about it.

If you want to introduce the Bitcoin you can simply introduce it by giving some reference as it is most trustable and profitable currency and its price is very high and most of the people are confused that the Dark Side of The Bitcoin and its dark use but you can clearly mentioned him that this is only a currency and you can take its advantage.

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Hi there mate. I explain the bitcoin as an uncentralized digital currency with limited supply. sometimes they show signs of difficulty in understanding the concept, especially the older people. I explain the uncentralized issue as "for example FED can mint dollars but no one can mint bitcoins, only mine it with hardware and electricity"  

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Play simple games, earn free bitcoin !

https://rollercoin.com/?r=kopkpsp3

ref_46860.png

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It's simple and easy to talk about bitcoin and the technology behind him,but we really need a lot of time and a lot if articles to just explain one part of bitcoin how it work send receive ,but anyway it's a good initial to talk about it he can make new user search more about it.

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Yes it is true that you cannot explain about Bitcoin to everybody. Especially those who are not techno friendly, may find it difficult to understand and believe in it. Initially even I found it unconvincing. But with time and patience you may be able to explain it to those who do not know anything about it.

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your post is much informative if you want to guide anyone about Bitcoin it is very easy to describe him by your words thank you so much for your information and I also came to know a lot of things about the Bitcoin.

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During discussions, two committee members supported a rate cut to 5.0%, which market participants interpreted as a step towards the beginning of a policy easing cycle.   At the post-meeting press conference, BoE Governor Andrew Bailey expressed optimism, stating that the UK economy is moving in the right direction. Bailey also noted that “a rate cut next month is quite possible,” but he intends to wait for data on inflation, activity, and the labour market before making a decision. Chief Economist Huw Pill, although he joined the majority in voting to keep the rate unchanged, also expressed growing confidence that the time for a reduction is approaching. He added that “focusing only on the next Bank of England meeting [20 June] is somewhat unreasonable” and that “medium-term inflation forecasts do not necessarily signal rate movements at the next or subsequent meetings.”   Overall, the movement of the GBP/USD pair last week resembled that of the EUR/USD pair. The chart shows a distinct surge on Thursday, 9 May, triggered by data indicating a cooling US labour market. The pound was also supported by optimistic GDP data for the UK for Q1 2024 and manufacturing sector data for March. GDP (quarter-on-quarter) rose by +0.6% after a decline of -0.3% in the previous quarter (forecast +0.4%). Additionally, the GDP grew by +0.2% year-on-year, recovering from a fall of -0.2%.   As with the euro, the pound is under pressure from the prospect of earlier monetary policy easing by the BoE compared to the Fed. However, the British currency ended the past week above the key 1.2500 level, at 1.2523. Moreover, 65% of analysts expect the pair not only to hold above this horizon but also to continue its growth. The remaining 35% voted for the pair's movement south. As for technical analysis, trend indicators on D1 are split 50-50. Among oscillators, only 10% recommend selling, 40% took a neutral position, and 50% recommend buying (10% of them signal overbought conditions). If the pair rises, it will encounter resistance at levels 1.2575-1.2610, 1.2695-1.2710, 1.2755-1.2775, 1.2800-1.2820, and 1.2885-1.2900. In case of a fall, it will face support levels and zones at 1.2490-1.2500, 1.2450, 1.2400-1.2410, 1.2300-1.2330, 1.2185-1.2210, and 1.2070-1.2110, 1.2035. The upcoming week's calendar highlights Tuesday, 14 May, when data from the UK labour market will be released. Also of interest is the Inflation Report hearing scheduled for Wednesday, 15 May.   USD/JPY: $50 Billion Interventions Wasted?   It seems that until the Bank of Japan (BoJ) takes confident and clear steps to tighten its monetary policy, nothing will help the yen. At its meeting on 26 April, the board members of this regulator unanimously decided to leave the key rate and QE program parameters unchanged. Expectedly tough comments on the outlook were also absent. This inaction increased pressure on the national currency, sending the USD/JPY pair to new heights. It continued its cosmic saga, reaching a new 34-year high of 160.22. Following this, Japan's financial authorities finally decided on a double currency intervention. Although there was no official confirmation, experts estimate its total volume at $50 billion.   Did it help? Judging by the USD/JPY chart, not really. The pair headed north again last week. Unlike the euro and the British pound, the yen barely reacted even to weak US labour market data on Thursday, 9 May, only slowing its decline.                    All this occurs amid endless statements from the Japanese Central Bank and Ministry of Finance about their readiness to take necessary measures to reduce speculative pressure on the national currency. The published minutes of the BoJ meeting show that most board members took a "hawkish" stance, calling for a rate hike.   However, many analysts believe that the Bank of Japan will take only one such step in the second half of the year. The last chord of the past five days sounded at 155.75. Economists at Singapore’s United Overseas Bank Limited (UOB) expect the USD/JPY pair to trade in the 154.00-157.20 range in the next 1-3 weeks. UOB also believes that the chances of it falling to 151.55 have significantly diminished. Overall, most experts (70%) simply shrug their shoulders in uncertainty. The remaining 30% persistently expect the yen to strengthen. As for technical analysis, 100% of trend indicators on D1 look north. Among oscillators, 50% are such, 15% point south, and 35% point east. Regarding support/resistance levels, traders should note that with such volatility, the slippage can reach many tens of points. The nearest support level is around 155.25, followed by 154.70, 153.90, 153.10, 151.85-152.25, 151.00, 150.00, after which come 146.50-146.90, 143.30-143.75, and 140.25-141.00. Resistance levels are 156.25, 157.00, 157.80-158.00, 158.60, 159.40, and 160.00-160.25.   Events of the upcoming week include the release on Thursday, 16 May, of preliminary GDP data for Japan for Q1 2024. No other significant publications regarding the Japanese economy are expected in the coming week.   CRYPTOCURRENCIES: A Week of Reflection and Uncertainty     What will happen to bitcoin in the foreseeable future? It seems there is no clear answer to this question. Experts and influencers often point in opposite directions: some shoot for the stars, while others keep their eyes on the ground.   For instance, according to the founder of Pomp Investments, Anthony Pompliano, bitcoin is "stronger than ever." He concluded this based on the 200-day moving average (200 DMA) reaching its ATH (All-Time High) of $57,000. Michael Saylor, CEO of MicroStrategy, is also optimistic. In his latest message, he urged investors to "run with the bulls." (It should be noted here that MicroStrategy holds 205,000 BTC on its balance sheet, so Saylor's bullish calls are quite understandable. He simply has to do this for his company to profit rather than incur losses).   However, analysts note that bitcoin's fate depends not only on the rosy calls of the MicroStrategy CEO. And if buyer support weakens, BTC could break through the key support level of $61,000, falling to the $56,000 zone, where significant liquidity is concentrated. MN Trading founder Michael Van De Poppe does not rule out another correction to around $55,000. However, the specialist quickly reassures investors, stating that this is quite acceptable as long as bitcoin holds above $60,000. Anthony Pompliano believes that the price will not fall below $50,000, and another expert, Alan Santana, does not rule out a drop to $30,000.   Trader and analyst Rekt Capital believes that the first cryptocurrency has exited the post-halving "danger zone" and entered the initial phase of re-accumulation. According to this expert, in 2016, BTC demonstrated a long red candle after the halving, falling by 17%. This time, the pattern repeated, with the difference between the post-halving maximum and minimum being 16%. The price reached a local bottom at around $56,566 but then rose to $65,508, on which Rekt Capital concluded that it re-entered the "re-accumulation range." However, there is one "but" - after this, we again observed a drop to $60,175. Overall, it seems that BTC/USD is in a descending channel, which increases investor concern.   In general, the forecasts are quite diverse. Information on the activity of various categories of traders and investors also varies. Analyst and CMCC Crest co-founder Willy Woo noted the activity of so-called crypto dolphins and sharks. "There has never been such a rapid purchase of coins by wealthy holders as in the last two months when the price fluctuated between $60,000-70,000. We are talking about those who hold from 100 BTC to 1000 BTC or approximately $6.5-65 million," he explained. On the other hand, according to CryptoQuant analysts, whales holding from 1000 to 10000 BTC, unlike dolphins and sharks, have behaved quite passively. Michael Van De Poppe, for his part, notes the absence of retail investors.   All this suggests that we may not see new all-time highs for BTC in the coming months. We wrote about this in the previous review, citing, among other things, the opinion of such a Wall Street legend as Factor LLC head Peter Brandt. With a 25% probability, he assumed that bitcoin had already formed another ATH within the current cycle. As for long-term forecasts, nothing has changed here - most of them predict a powerful bull rally for bitcoin. Anthony Pompliano writes about this. Willy Woo expects bitcoin to continue increasing its penetration into various spheres of everyday life, meaning the number of users will grow. "By 2035, we expect bitcoin's fair value to reach $1 million. This forecast is based on the user growth curve. And I'm talking about fair value, not a peak during a bull market frenzy," the analyst notes.   The author of the bestseller "Rich Dad Poor Dad," entrepreneur Robert Kiyosaki, once again included bitcoin in the TOP-3 ways to save and increase capital. "Bad news: the [currency market] crash has already begun. It will be severe. Good news: a crash is the best time to get rich," he wrote, offering several recommendations on how to act in a crisis. Let's note two of them. The first reads: "Find an additional source of income. Artificial Intelligence will destroy millions of jobs. Start a small business and become an entrepreneur, not an employee afraid of losing a job." "Don't hoard fake money (US dollar, euro, yen, peso) that is losing value. Hoard gold, silver, and bitcoin - real money whose value increases, especially in a market crash," is Kiyosaki's second recommendation.   Regarding bitcoin's growth, Kiyosaki is absolutely right; it's even pointless to argue. According to a study by Colin Wu, better known as WuBlockchain, over the past decade, the price of the leading cryptocurrency has grown by an astonishing 12,464%, outpacing giants like Amazon, Apple, Google, Meta, Tesla, and Netflix. BTC was second only to Nvidia (+17,797%). But the fact that bitcoin took second place, being a representative of a relatively new and volatile market, is a real achievement. BTC's impressive growth trajectory over the past decade demonstrates its resilience and potential as an essential component in investors' portfolios.   At the time of writing this review, on the evening of Friday, 10 May, the BTC/USD pair is trading at $60,470. The total market capitalization of the crypto market is $2.24 trillion ($2.33 trillion a week ago). The Crypto Fear & Greed Index has risen from the Neutral zone (48 points a week ago) to the Greed zone, now standing at 66 points. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
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