How to explain Bitcoin to someone in 12 seconds.
Have you ever mentioned Bitcoin to someone and they ask ‘Oh yeah I heard about that, what is Bitcoin anyway?’
And you kind of just stutter for a hot second as like a million thoughts flood your mind - history of money - gold standard - Brettonwoods - fiat - computers - hashes - housing crash - mtgox - DeFi - miners - inflation - consensus mechanisms - market caps - bonds - yield - Merkel trees - SHA-256 - Could probably talk for hours about economic possibilities.
Here are the easy answers:
1). Bitcoin is just a money sending system, like the VISA network, but it’s now owned by anyone, it’s open source software. Really good for instant settlements, you can trade it back to USD in one click, while banks take a few days.
2) Bitcoin is like a digital dollar, but instead of the US government making more of it whenever they want, it’s made on orderly computers by anyone who runs the Bitcoin software. The more computers the more strength the network has. It goes up in price because people find its digital value more and more worthwhile.
3) Bitcoin is just digital money. Thing is it wasn’t once not digital and made digital like the dollar was, it was designed on computers using advanced security software with its continued computational integrity in mind.
Those are my best quick answers. How would you elevator pitch Bitcoin?
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