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RE: A bit late to the party - Trying to understand blockchain technology and cryptocurrencies.

in #bitcoin8 years ago

First, I love that you ordered a book on bitcoin, @steemityourway. That is definitely a step in the right direction, if you want to understand how it works.

How can everyone in the world understand bitcoin, how it works, learn to trust it, and start using it regularly without having any technical background?

I am going to counter this question with another question:

Do you know how credit card or bank transactions work?

Most people have no clue. We just know that we make a purchase and pay for it with standard money (fiat). The difference with bitcoin/altcoins is that we are skipping the middle man and paying directly to the recipient.

The only fees we pay go to the processor, which is not one company, one server or privatized. Our transactions are encrypted and the processors (miners) are compensated and unregulated.

So, to explain to someone what bitcoin is, keep it simple. You don't have to get technical or completely understand how it works, just that it works. :)

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Wow!👌🏻💥 thank you so much, I really appreciate the comparison you made with credit cards! I have no words, this really counters my question perfectly. Epic comment dude. I agree 100% @tunnelrat

Glad I could help :) Pretty easy to lean toward the technical side of things sometimes.