How do you explain crypto?
Posted: Thu Feb 17, 2022 7:54 am
How do you explain mining to your friends, family, coworkers, etc.?
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How do you explain crypto?
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Re: How do you explain crypto?
Posted: Thu Feb 17, 2022 12:22 pm
Hardcore gambling and Voodoo with a nice chance of loosing almost everything if your timing is bad. I love it.
Re: How do you explain crypto?
Posted: Sun Feb 20, 2022 9:35 pm
"Imagine if leaving your car idling produced solved Sudokus you could exchange for heroin"
Re: How do you explain crypto?
Posted: Fri Jun 17, 2022 6:31 am
I think it's actually not difficult. I also could not understand for a long time what cryptocurrency is, and when I myself began to be interested in this topic and work with cryptocurrency, it was just as difficult for me to explain what it is to my loved ones, especially those who are older. It is important to understand that the cryptocurrency is practically no different from the usual currency in terms of the principle of operation. Any currency works because people trust it. The whole world trusts the dollar and therefore the dollar is expensive and everyone uses it. It also works with cryptocurrency, it's just immaterial. I know it's hard to understand. I myself have only recently begun to understand how it all works because of my friend who works on https://odos.xyz / and persuaded me to start working in this field.
Re: How do you explain crypto?
Posted: Fri Jun 17, 2022 10:32 am
I’ve definitely experienced this myself. It’s almost like once you know you don’t know where to start explaining because there are so many pieces to it.EbelyHupely wrote: ↑Fri Jun 17, 2022 6:31 am I think it's actually not difficult. I also could not understand for a long time what cryptocurrency is, and when I myself began to be interested in this topic and work with cryptocurrency, it was just as difficult for me to explain what it is to my loved ones, especially those who are older.
Re: How do you explain crypto?
Posted: Fri Jan 06, 2023 11:42 am
Your explanation is awesome about crypto but I think it just a waste of timeEbelyHupely wrote: ↑Fri Jun 17, 2022 6:31 am I think it's actually not difficult. I also could not understand for a long time what cryptocurrency is, and when I myself began to be interested in this topic and work with cryptocurrency, it was just as difficult for me to explain what it is to my loved ones, especially those who are older. It is important to understand that the cryptocurrency is practically no different from the usual currency in terms of the principle of operation. Any currency works because people trust it. The whole world trusts the dollar and therefore the dollar is expensive and everyone uses it. It also works with cryptocurrency, it's just immaterial. I know it's hard to understand. I myself have only recently begun to understand how it all works because of my friend who works on https://odos.xyz/gb whatsapp and persuaded me to start working in this field.
Re: How do you explain crypto?
Posted: Mon Jan 09, 2023 11:16 am
Re: How do you explain crypto?
Posted: Tue Jan 10, 2023 6:26 am
Hi. I explain to my friends that it's like playing a game where you mine ore, let's say Minecraft, a great example I think. But the process is automated as if you downloaded a mod for tools to mine that ore automatically, but those tools need to be bought and upgraded. Then you take these ores and exchange them for money on exchange sites. A straightforward and superficial explanation but for those who do not know I think this is a good example. What do you think?
Re: How do you explain crypto?
Posted: Tue Jan 10, 2023 7:05 am
I can see this explanation. You could go so far as to liken the different tools being able to more efficiently "mine" different things to the different mining equipment more profitably mining algorithms. An ax works better cutting down trees, and a pickax works better on stone, sand, whatever. GPU's are good for some algorithms/coins, but you need an ASIC to mine others.petrderbikov wrote: ↑Tue Jan 10, 2023 6:26 am Hi. I explain to my friends that it's like playing a game where you mine ore, let's say Minecraft, a great example I think. But the process is automated as if you downloaded a mod for tools to mine that ore automatically, but those tools need to be bought and upgraded. Then you take these ores and exchange them for money on exchange sites. A straightforward and superficial explanation but for those who do not know I think this is a good example. What do you think?