How To Explain Bitcoin To Your Parents

Authored by Lisa Froelings via CoinTelegraph.com,
With Bitcoin recently reaching a high water mark of an all-time high of $11,500, it’s inevitable that relatives will start asking questions.
When your parents ask questions, it somehow ends up either they don’t agree with your idea or relate it to their younger years.
Of course, that’s not a problem, except if you talk about new innovation that has a potential to change their perspective. Bitcoin is one of the hottest topics today, but not everyone can grasp its full potential, especially when you talk to the oldies like your parents.
So how can you explain it to them without getting a blank stare?
First point: Its money, just digital
Don’t go explaining Bitcoin using jargons like cryptocurrency, rather explain it using examples they can relate to. Defining something unknown with something equally unknown is a big no-no.
You can relate it to a regular money or stocks. Explain that Bitcoin is regular money that has value and can be used to buy goods and services. It is also similar to stocks because the value fluctuates based on the supply and demand. However, it doesn’t give any dividends, unlike Bitcoin.

This post was published at Zero Hedge on Dec 1, 2017.