Image credit: CoinCentral

Bitcoin Explained for your Grandma

Monika Proffitt
Sep 3, 2018 · 3 min read

Often times, working in the blockchain industry, I am asked to explain what Bitcoin and other cryptocurrencies actually are. What is their value? How are they created? What is the point of it all? To help clarify things, I’ve defined these terms and simplified them with analogies and metaphors that even your grandmother could understand.

Keep the story going. Sign up for an extra free read.

You've completed your member preview for this month, but when you sign up for a free Medium account, you get one more story.
Already have an account? Sign in

Monika Proffitt

Written by

Monika Proffitt is a serial entrepreneur, speaker, and author of Blockchain 101: Fundamentals of a New Economy.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade