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RE: How do you explain crypto to your wife?

in The CTP Swarm3 months ago

How do you explain crypto to a complete newbie? How would you proceed? Where would you start? Have you had some experience already?

I usually would not try to explain crypto in english, as it's not my native language, I will not be able to be precise enough and to use the correct word to explain clearly to a complete newbie.

If I had to explain it, I think I would start by explaining the blockchain first: something like a database, or a register, where information and interactions are recorded. And where security is ensured by algorithm which are needed to validate each modifications of the database (miner, PoS validator, etc.)

Then, I will explain crypto, which is a currency similar to the electronics money/fidelity point some shops allow you to use to buy stuff. The value of this "money" depends on what you can use it for, or on what other people are ready to pay to have it. Some crypto can be use as wealth store, like gold, some other can be use to really buy things, like a real life currency, and finally, some other crypto are closer to shares of a company. Thanks to the blockchain, the exchange of these crypto is secured, as well as your ownership on it.

I never tried to explain crypto to someone, as I am myself relatively ignorant of many things, I wouldn't like to give incorrect advice to someone else.

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Thanks a lot for this great comment! I think that the sequencing of the teaching is very important and you do it very well here. The trick I believe is to give only so much information as not to overwhelm the learner.

!ENGAGE 20

There has already been too much ENGAGE today.

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