Simplest Way to Explain the Value of Cryptocurrencies to People Who Just Don't Get It
As a writer for small businesses, one of my daily challenges is finding ways to explain something simply to someone who has no previous knowledge on that topic. In the cryptocurrency space, and maybe it's just because I'm still learning, I've had a hard time explaining the value that this technology will bring into the real world to family, friends, and my network.
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I've tried to explain blockchain technology, it's value in countries where governments are crumbling, and how fast and inexpensive the transactions are. The mistake I've made in these attempts was that I was trying to explain something complicated to someone who knows nothing about it in too great of detail. For example, if someone had never seen or heard of a car, you wouldn't start by explaining how much horsepower it has or that it has leather interior, instead, you would explain an application of it or what it's used for.
"A car moves and can take you from one place to another much faster than you can walk or ride a horse." Giving this quick explanation helps give someone a base of general information to work off of. They can then conduct their own research to learn more.
We should explain cryptocurrency to others in a similar way. Instead of trying to explain the whole thing, give them a short and understandable example that they can easily digest and then start to research and learn more on their own.
My Example
Yesterday in a coffee shop, I finally figured out how to explain a small piece of the value that cryptocurrency brings to the world. A piece so simple that anyone could understand.
I was talking to a friend at a coffee shop--a friend who I've convinced to join Steemit (@alecreed). He mentioned that he has an older family member who is a very smart and experienced investor, but just doesn't understand or see a reason to look into cryptocurrency. Here was my recommendation for how to approach explaining it to him. Let me know what you think about this approach in the comments below.
Decades ago, mail had to be sent physically. It was slow, expensive, and time-consuming. Using computers, email was invented, which has now changed how we can send information.
Currently, businesses pay fees (sometimes as high as 4%) just to accept our money from us for a purchase. Using computers and cryptocurrency (I know it's more detailed than this, but remember to keep it simple!), these businesses won't have to pay these fees, saving them millions of dollars.
Remember, it's important to keep it simple since a complicated explanation will cause confusion. A simple and easy to understand description could be the start of someone's knowledge about a subject. My hope is that by using this explanation frequently, more people I'm connected to will quickly understand the value that cryptocurrency will bring to the world (1,000X more than cutting transaction fees, but it's a start, right?), and that they will then conduct their own research or ask me questions to deepen their understanding.
What do you think? How do you explain cryptocurrency to others? Please comment below.
It is difficult explaining it to someone fresh and new but I can remember when BTC was new and rather spending $5 on it I laughed at it as well, Oh if only right? I speak with people who approach me and I'm no wizard n this realm but I do believe that eventually even the hardest or last will learn whether they want to or not. I believe as time goes by it will implemented more and more into our daily lives and used by all in some form or fashion. I like your approach and it goes back to kiss...... keep it simple stupid. Enjoyed.
Great comment and advice. KISS!
I'll give you an upvote for discussion purposes, but I think your example is oversimplified to the point of not really explaining true purpose of crypto or how revolutionary it is.
I understand the desire for simple explanations, but when something this novel comes into play it will take more. Think how hard it was to describe the internet to someone before it existed, that's what this is like. I would say your example is analogous to explaining what the internet was by just saying mail is now email, but leaving out the revolutionary technology that is the WWW.
This tech is mostly about taking back control of our money (which is really our time and labor). A small group of unelected private parties currently control our time and labor. This is an insidious form of covert slavery.
In short the analogy I would make is this is the Internet of money. For example- in in the past, news was a monopoly of a few small newspapers, and then the internet made it possible to have complete freedom of information for the most part.
Crypto is the same but for money. Until now small groups controlled the money of billions of people. Now we can have complete freedom over that too.
You're 100% correct, but that's the point. People who aren't really interested need a starting point. My example does nothing to explain the true purpose of crypto or how revolutionary it is -- you're right, but it provides a short glimpse at it so they can get interested enough to learn more.
The other points you make are what I believe as well, but those points will be completely lost on 90% of people who aren't currently already in on cryptos. They will think we're crazy instead of giving us a chance to teach them more.
I searched for a long time and still haven't come across a magic bullet to spark enough of an interest to wake people from their deep slumber. Most of the interest lately is just FOMO, and completely misses the point as I am sure you already noticed.
We have had good times for too long and this lead to a complete abandonment of our civic duties over the last few generations. A wise man once said "Eternal vigilance is the price of liberty." Right now we have closer to zero vigilance, and therefore liberty is decreasing.
My opinion is that, sadly, only hard times will make for a well informed populous once again. These hard times are coming. Prepare yourself and your tribe, hopefully you will become a sheppard for the people you care about when the time comes. Position yourself to profit from the paradigm shifts, but don't waste too much energy on convincing people to understand something they do not want to understand. It's hard to admit being duped your whole life, and that is what you are trying to get people to understand.
If you are stubborn enough to keep trying...perhaps try the analogy of playing a monopoly game. Right now we have a game where some of the players are allowed to grab post-its and write 500 on them and they can use them in our game freely,literally as many as they want.
Which players do you think are likely to win most games?
All that crypto is doing is saying from now on, all payers only use the bills that come with the game. They cannot be faked anymore thanks to advanced math and code. Even governments will have to follow the rules now.
And thank you for reading, voting and commenting, I appreciate it.
A simple explanation: Transfer wealth on the wire in less than 3 seconds at the click of pressing the button.
Great explanation. I like to mention that we have smart phones/devices smart enough to handle our finances. Why trust a bank that doesn't even hold enough money to pay everyone if they all want to withdraw at the same time? These banks also charge us fees that can be avoided.
Thanks David. Yeah, that's a good point too!
Very good....
Goog post, like it !
Upvote and resteem !
@michaelluchies