Bitcoin's origin story is legendary among enthusiasts.
The first line of code in the very first transaction contains a headline from The Times.
It reads: "Chancellor on brink of second bailout for banks."
"I don’t get it" is the first reaction from most people in any group at the pub when the subject of Bitcoin is raised.
A comical attempt from someone to explain blockchains and hashes and stores of values then follows, and rarely does it help to clear things up, for anyone present.
But if you want to get a newcomer onside, it’s probably more constructive to talk about why it was created, rather than how it works.
ABC Bullion chief economist Jordan Eliseo is your friend.
In a comprehensive 45-slide presentation this month, Eliseo pretty much covers all you need to know about the wildest currency ride in history. It’s all here when you’re ready for it.
But first, he gives three "primary motivations" as to why it was created.
The first, "a simple yet genuine desire to harness the technological power at our fingertips" to change payment systems. In much the same way Amazon changed retailing, or Uber changed transport. Because now, we can, basically.
The third, to answer the question "What is money" in a world where there is such a thing as negative interest rates.