How to explain Bitcoin to your Granparents [InfoGraphic] - page 2.

omahapoker

hero member

Activity: 868

Merit: 1000

Quote from: maku on August 15, 2015, 05:53:59 AM

Quote from: LiteCoinGuy on August 15, 2015, 05:49:17 AM

without bigger blocks transaction costs will rise to 0,20 $, 0,40 $ and 1 $

hopefully we will make the correct choice and support bigger blocks.

I am not techie. But I was under the impression it is precisely the opposite. Bigger blocks = more data to process = bigger files = increase of transaction fees.
I was wrong?

Yes. There are half of the developers that don't want to raise the max block limit. The result would be that not all transactions can be confirmed and only the ones that pay higher fees get included in the blockchain and get confirmations. The result would be that the fees are rising.

Which would be deadly to bitcoin.

maku

legendary

Activity: 1288

Merit: 1000

Quote from: LiteCoinGuy on August 15, 2015, 05:49:17 AM

without bigger blocks transaction costs will rise to 0,20 $, 0,40 $ and 1 $

hopefully we will make the correct choice and support bigger blocks.

I am not techie. But I was under the impression it is precisely the opposite. Bigger blocks = more data to process = bigger files = increase of transaction fees.
I was wrong?

LiteCoinGuy

legendary

Activity: 1148

Merit: 1011

In Satoshi I Trust

without bigger blocks transaction costs will rise to 0,20 $, 0,40 $ and 1 $

hopefully we will make the correct choice and support bigger blocks.

illyiller

hero member

Activity: 697

Merit: 520

Quote from: LFC_Bitcoin on August 15, 2015, 04:31:38 AM

This is great, really good effort BUT I'd give up on explaining bitcoin to the elderly. What we need & is far more important to accomplish is to explain bitcoin to children / the younger generation. Our future financial world will be shaped by them, what we really need is bitcoin to be taught about in schools.

Actually, I think kids are discovering it, and are much more apt to understand it as young people in an increasingly technological society, than the generation or half-generation that came before them. The big hurdle are the middle-agers, who are still the gears in the machine.

LFC_Bitcoin

legendary

Activity: 3556

Merit: 9709

#1 VIP Crypto Casino

This is great, really good effort BUT I'd give up on explaining bitcoin to the elderly. What we need & is far more important to accomplish is to explain bitcoin to children / the younger generation. Our future financial world will be shaped by them, what we really need is bitcoin to be taught about in schools.

illyiller

hero member

Activity: 697

Merit: 520

To be honest, I'm not a huge fan of explaining it as a currency. I think of it more as something akin to digital gold. A decentralized store of value -- but one that can be divided easily and transferred electronically. It's backed by the network -- not the economy, per se.

ikydesu

hero member

Activity: 686

Merit: 500

fb.com/Bitky.shop | Bitcoin Merch!Premium Quality!

Actually i mean this is the easy InfoGraphic which can explain to people who want to learn Bitcoin, because i see there are thread "How to explain Bitcoin to your family", so i think this InfoGraphic is good explain, although this InfoGraphic more explain about Bitcoin compared to fiat currency.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Haha this is great but I really doubt my grandparents would get something out of it! I mean, they can barely sent out an email so it would be hard to expect from them that they will ever understand how Bitcoin works!

Nice try though!

ikydesu

hero member

Activity: 686

Merit: 500

fb.com/Bitky.shop | Bitcoin Merch!Premium Quality!

Actually this is like compared Bitcoin with Fiat currency, but it's worth to do Grin

Source: you can see on the pic Cheesy

Topic: How to explain Bitcoin to your Granparents [InfoGraphic] - page 2. (Read 1870 times)