Topic: Explain crypto to someone like he's five? - page 2. (Read 270 times)
This is what you are looking for: https://www.youtube.com/watch?v=cFj72hrUZt4
That's not going to be an easy thing if that 5 year old kid doesn't really know about technology. Not all kids has the chance to use an iPad or android devices that young especially those that has strict parents.
But if a kid who's really interested with it that will be easier to tell that bitcoin is a digital currency and not entirely an investment thing, kids won't understand investments at a young age.
But if a kid who's really interested with it that will be easier to tell that bitcoin is a digital currency and not entirely an investment thing, kids won't understand investments at a young age.
Well I think that is an issue just there: Bitcoin and Cryptocurrency in general is no kid’s game at all, even less for a "five year old". A five year old should have his mind elsewhere really.
Einstein did seem to quote “If you can't explain it to a six year old, you don't understand it yourself.” By Einstein’s standards, give it another year at least then…
Einstein did seem to quote “If you can't explain it to a six year old, you don't understand it yourself.” By Einstein’s standards, give it another year at least then…
Lol, good exercise, I would say that (of course, no mention of technical characteristics, as this is only popularisation of science for a 5 years old):
Bitcoin is an electronic money, which means that you can not touch it, nore can you have it in your pocket. You need a computer to pay with Bitcoin. They are stocked in electronic wallets stored in computers.
There are people, who are called miners, who monitor people paying with BTC, and if they see that people are trying to cheat, they can forbid them to do so (wrote a lot more about it beforehands, but finally deleted as it would have been too difficult to understand).
Btc doesn't have the same price everyday.
If lots of people want to have BTC, BTC price will raise, but if not so many people want to have BTC, BTC price will decrease.
That means maybe price for 1 BTC can be 10$ today, but tomorrow it can be 15$, or only 5$.
Now go to bed and don't forget to have a pee beforehands please !
Bitcoin is an electronic money, which means that you can not touch it, nore can you have it in your pocket. You need a computer to pay with Bitcoin. They are stocked in electronic wallets stored in computers.
There are people, who are called miners, who monitor people paying with BTC, and if they see that people are trying to cheat, they can forbid them to do so (wrote a lot more about it beforehands, but finally deleted as it would have been too difficult to understand).
Btc doesn't have the same price everyday.
If lots of people want to have BTC, BTC price will raise, but if not so many people want to have BTC, BTC price will decrease.
That means maybe price for 1 BTC can be 10$ today, but tomorrow it can be 15$, or only 5$.
Now go to bed and don't forget to have a pee beforehands please !
Learning this digital currency is complicated. There are a lot of things one must know before investing in it, especially if you do not want to lose any amount you cannot afford to lose. So how would you explain Cryptocurrency and bitcoin to someone as if he is five years old?
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