Bitcoin frenzy has outsiders wondering: 'how do I get in on the action'? Bitcoin insider replies: 'What, you don't know what the terminal is? MOVE!'
To an outsider the term 'crypto currency' sums up their understanding of it: cryptic and meaningless; has something to do with money; people are getting rich off of it, possibly coal miners.
The current bitcoin bubble and the media attention it garners is attracting newcomers who are wondering how they can convert their fiat money (if they even know what that is) to this miracle investment opportunity called bitcoin.
So they go to the googler and type: 'buy bitcoin'.
"Alright! Make millions with bitcoin! Use my credit card to buy it! "
"Oh. But I didn't even enter a credit card number. This site is broken."
After a bit more research the outsider gets smarter: So, crypto currency is a blockchain technology that is based on real value produced and limited supply. Mining is based on power consumption, computing speed, or in the case of STEEM contributions to a community.
"Okay, maybe I can't buy bitcoin right now, but I can set up a steemit account and accrue value in STEEM dollars that I can convert to bitcoin!"
Several months later:
"Sweet! My steem account has an estimated value of $125! Let's convert it to bitcoin so I can start trading it on an exchange."
