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RE: I Can't Explain What Bitcoin Is to my Friends!
It's a good start...probably too short to paint the picture - but it gives you a springboard to jump from!
It's a good start...probably too short to paint the picture - but it gives you a springboard to jump from!
Bitcoin is a digital asset that you can exchange peer to peer through a non-corruptible digital ledger system called a block chain. The ledger system is decentralized, meaning it is stored on multiple computers around the world, that must agree with one another on the transactions in order for the transaction to be permanently added to the ledger. Payments are made to a third party known as a miner for making the actual transactions. I'm working on my elevator speech too, so this is a fun exercise.
That's pretty good! It started slightly technical but it all came around to make sense