Bitcoin has taken the world by storm. It seems every time you reload a tech related web page there is something new about Bitcoin, today is no different.

A lot of people have heard the term Bitcoin. They may even had heard that at some points the value of one Bitcoin can be over $1000, at the same time many aren’t exactly sure what Bitcoins are.

This infographic we posted last week talks about some of the history and interesting facts about Bitcoin, but doesn’t answer basic questions. Many folks don’t want to admit that they know every little about the virtual currency.

The infographic below, compiled by whoishostingthis.com takes a look at Bitcoin from the most basic angle. In fact they’ve called the infographic “How to explain Bitcoin to your grandparents”. It provides a great basic overview of what Bitcoin is and the different lingo and what it means.

Take a look at the infographic below and then shock your grandparents by giving them the knowledge they need to keep up with dinner time talk about Bitcoin.