Here's how I usually explain what Bitcoin is and why it matters:
It's hard for most people to understand Bitcoin, Most people don't really understand electronic currency. Bitcoin gives you a way to pay for something like cash over the Internet and gives the merchant instant payments without waiting for the very old ACH network that all other payment systems use. Also, as a merchant, you run no risk of the customers defrauding you by using stolen credit cards and then having the credit card (or PayPal / Square) company pulling (charge-back) the funds from the merchant at a later date. As a friend of a very small business, credit cards cost him more than $1,000 a month and that $1,000 could have had him pay one more part-time worker to help him out.
Let’s put people back to work. As a friend and because of the high fee's we choose to use bitcoin, cash, or debit cards but my friend’s business cannot just ask the customer, please don't use your credit card with you 1% cash back that he now has to pay on top of the standard 2-1/2% to over 3% in fees when the customer can just use their debit card but then the customer may have to pay a fee. Also, as a small business, why not offer the customer all the options to pay? That may include every credit card, debit card, PayPal, and Bitcoin. My friend also would take gold and silver if he knew a way to cut it up and weigh it for each transaction. As a customer myself and have had my credit and debit cards stolen without full compensation of funds or for my time, I like paying in cash or bitcoin at a store and bitcoin online. Any extra fee’s it may or may not cost me using bitcoin fully out ways the time and extra money it takes to protect my identity. With companies like Geocoin, Coinbase, and Bitpay, my friend can transfer 100% of the bitcoin into USD with little to no fee's so if he sales something for $20.25, he gets $20.25 within 48 hours. As a customer, I can obtain bitcoin from Coinbase or Circle instantly just before the transaction so I don't have to pay any fee's as Circle is 100% free and Coinbase is 1% + $0.15 banks ACH fee, unlike Paypal. I also do not hold a single bitcoin with any company that may lose it as that is the only way to lose your coin is by trusting others. Just like you can lose your money by investing with people like Bernie Madoff.
You can "be your own bank" with Bitcoin,
You can "be your own bank" with Bitcoin,