How do you explain Bitcoin?

[Anonymous No.24343446]

How many of you degenerates could actually explain bitcoin to a normie in a way that is somewhat comprehensible

[Anonymous No.24343481]

>>24343446
Bitcoin is the easiest to explain. Eth or chainlink on the other hand ...p

[Anonymous No.24343483]

>>24343446
its a chain made of blocks that are stored in digital assets to provide the chainlink networt with necessary data Assets to prevent further Liquidation.
It is essentially an ultra secure network that Uses the APA3 Method to highly ensure stability.

[Anonymous No.24343569]

The blockchain is a ledger, anyone can add a line to it moving any amount to any wallet from any wallet.
These transactions are lines of data grouped in "blocks"
Miners, anyone with a computer, run a program which verifies each line of the ledger is legitimate
All miners findings are compared and a consensus is reached on each block, without consensus it fails.
The miner of the block achieves a small reward for maintaining this blockchain
Thus no single person or entity decides what is legitimate and what is not, group consensus is required to pass transactions, and an entirely decentralized currency is created and maintained.

[Anonymous No.24343634]

>>24343569
Exactly and the quantum storage solution connects it to the ethereum network.

[Anonymous No.24343655]

>>24343446
It's a public ledger that records everything that happens inside of its network, of which is known as the blockchain, the blocks of which make up said blockchain, are the transactions that you make upon the network.
Miners of bitcoin are compensated with bitcoin, to make sure each new block added to the blockchain is properly maintained.
As everyone wants to be compensated, multiple people will be mining, decentralizing the verification of each block.
Hence, miners are like the IRS, staring down at a million peoples taxes and returns, stringing all of them together.
Savvy?

[Anonymous No.24343657]

Its a chain of ledger entries where each entry has to be derived from the previous one

[Anonymous No.24343726]

>>24343446
I just explain how I became interested in it / why, which is a lot simpler for me than explaining how blockchain / decentralized ledger type stuff works.. Some of the economic arguments, but not the tech stuff. When it comes to that I just point out they use things all the time they don't understand in the slightest, and I can refer them to some good free resources that explain it really well if they want.

[Anonymous No.24343730]

>>24343655
the keyword here is decentralization, without it bitcoin wouldn't be able to handle the Standardized virtual interface

[Anonymous No.24343758]

>>24343446
Magic internet nerd money make u rich.

[Anonymous No.24343898]

A bitcoin is a reward for solving a mathematical problem
That mathematical problem is making a new page in a ledger book where all transactions are written
Each new page is mathematically linked to the previous one forming a chain of pages

[Anonymous No.24343910]

>>24343898
Dont forget the quantum storage solution

[Anonymous No.24343919]

https://www.youtube.com/watch?v=bBC-nXj3Ng4

[Anonymous No.24343948]

>>24343446
>rocking back and forth while autistically screeching
Am I doin it right?

[Anonymous No.24344040]

>>24343948
I gave up the trading part. Fuck that shit. There are better things you can waste your money on. I'll stick to holding shitcoins.

[Anonymous No.24344058]

>>24343446
Scam currency for pedo's and drug dealers.

[Anonymous No.24344541]

>>24343446
Bitcoin is software

[Anonymous No.24344568]

>>24344058
He's talking about Bitcoin with a capital B. You are talking about bitcoin.