RATE Group | These Two Analogies Will Help You Explain Bitcoin to Anyone

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These Two Analogies Will Help You Explain Bitcoin to Anyone

14 Dec These Two Analogies Will Help You Explain Bitcoin to Anyone

Posted at 18:40h in Bitcoin News by admin

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Explaining Bitcoin to someone who knows nothing about Bitcoin isn’t easy. In fact it’s fiendishly tricky. Describing concepts such as blockchain, decentralized networks, and permissionless ledgers to beginners is as tough as describing the color orange to a blind person or the taste of an orange to someone who’s never peeled one. Two new Bitcoin analogies surfaced this week, however, that should make that task easier.

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How to Explain Bitcoin to Anyone

These Two Analogies Will Help You Explain Bitcoin to Anyone Complete the following sentence: “Bitcoin is like ____.” Defining Bitcoin isn’t easy; hell, even bitcoiners can’t agree on what the cryptocurrency is designed for, be it a store of value, medium of exchange, or a form of…