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3263794 No.3263794 [Reply] [Original]

How can I explain the block chain to my Mom? She said she'll give me 15k to invest if i can explain to her how it works and whats actually going on?

Don't know how to explain it bc my Mom's a normie with not much computer knowledge.

>> No.3263850

don't play with your parents' money

>> No.3263854

>>3263794
Just show her the growth on coinmarketcap. A moron can understand gains.

>> No.3263864

Nobody knows desu

>> No.3263865

>>3263794
show her human centipede, samething but with currency

>> No.3263870

If you can't explain it in simple terms then you don't understand it good enough

>> No.3263888
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3263888

>>3263865

>> No.3263896

I said this to my mom.

The richest person in USA has a company called Microsoft. Microsoft invested money in ETH.
Toyota and Samsung also invested money in ETH.

>> No.3263905

>>3263794
Show her a collection of pink wojaks. That's all you need to do to explain crypto.

>> No.3263936

>>3263794
Call it decentralized securities trading

say it is similar to trading on the stock exchange except with greater ROI

>> No.3263941

>>3263870

I haven't actually said anything to her yet. I was thinking of describing it as a Ledger that's checked constantly by the system.

>>3263850

This isn't her money, More a financial gift if i can prove im investing it for my future. She's management for a civil engineering firm so it's not much.

>> No.3263982

>ITT: The gang loses mom's $15k.

>> No.3263989

>>3263794
Tell your mom this:
Blockchain is a chain of blocks, each that hold a bunch of transactions in sequential order. Many computers all around the world track the chain and help add more blocks, allowing the most recent transactions to go through. This way, there is an open ledger of transactions in thousands of computers around the world. The benefits are, we have a currency that is not centralized (controlled by one entity) and cannot be hacked.
Since there's a limited amount of bitcoin, the more people that want to get in on this new form of currency, the higher the price goes. This is why the price has gone up from what it was then to what it is now. If you give me the $15000, I'll use it to buy mostly bitcoin, but also other types of blockchain-related currencies as well. There are other alternatives to bitcoin called altcoins, some of which have been raising in price faster than bitcoin. So it's good to diversify and buy a little bit of each. I believe an altcoin called ARK will be the next big thing, so about a third of your money will go there.

>> No.3263995

I say cryptocoins are protected by password, so it's very difficult for thieves to steal my coins because they have to guess the password correctly, which is harder than winning 100 lotteries.

>> No.3264105
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3264105

>>3263941
>This isn't her money, More a financial gift if i can prove im investing it for my future. She's management for a civil engineering firm so it's not much.
Well tell her to send some to me for my future

>> No.3264186

>>3263794

If you can't explain it to a normie you don't understand it well enough to be investing their money.