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Sannyasi
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June 28, 2011, 08:34:30 AM |
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when you're older son- this is big boy stuff, go play with your dools, er GI Joes........
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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rb1205
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June 28, 2011, 08:57:34 AM |
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Son: What are bitcoins, papa?
Me: Tokens of value, son.
Son: <blank stare>
Me: See this coin? You can give it to someone in exchange for something. But it's just a token. You've seen me pay by credit card, that was another token of value, a different one. Bitcoins are another token of value, but just easier to manage.
Son: Oh, I get it. It's an enhanced form of cryptocurrency that solves the double spend problem through the use of an open block chain. I imagine it'll use SHA256 or something to act as a proof of work so that transactions can be mathematically proved to be correct without the need for an overseeing middleman. And because they're just numbers then they can be stored on arbitrary media making them extremely portable.
Me: <blank stare>
God i lol'd so hard |
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bitcoinTrader
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June 28, 2011, 09:18:37 AM |
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Son: What are bitcoins, papa?
Me: Tokens of value, son.
Son: <blank stare>
Me: See this coin? You can give it to someone in exchange for something. But it's just a token. You've seen me pay by credit card, that was another token of value, a different one. Bitcoins are another token of value, but just easier to manage.
Son: Oh, I get it. It's an enhanced form of cryptocurrency that solves the double spend problem through the use of an open block chain. I imagine it'll use SHA256 or something to act as a proof of work so that transactions can be mathematically proved to be correct without the need for an overseeing middleman. And because they're just numbers then they can be stored on arbitrary media making them extremely portable.
Me: <blank stare>
LOL  |
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Litt
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June 28, 2011, 09:36:30 AM |
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It's the kind of money you don't have to pay back when you make it.
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nosfera2
Newbie
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Activity: 42
Merit: 0
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June 28, 2011, 03:22:02 PM |
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Dad: It's a kind of money the computer makes when you're not playing video games.
Son: Is that why Mom's always telling you to get off Call of Duty?
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true
Newbie
Offline
Activity: 56
Merit: 0
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June 28, 2011, 06:58:33 PM |
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Bitcoin: play-money for grown-ups.
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BitCoinBarter
Newbie
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Activity: 56
Merit: 0
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June 28, 2011, 07:19:45 PM |
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"What are electrons?"
The answer was, "That's the magic that makes the internet (and other things) work."  Of course your son may have responded with, "What is the internet?" You can not win with the growing mind of a 5 year-old. I told him my new graphics card was "a money-making machine," he seemed to accept that pretty easily.
He remembered your last conversation and figured that you do not know. After all, he asked Momie and see told him it was Magic. |
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Phinnaeus Gage
Legendary
Offline
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
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July 09, 2011, 04:13:31 PM |
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Police Officer: I pulled you over for having no tail lights. May I see you license and registration, please?
Five Year Old in Back Seat: Daddy. Ask the nice policeman if he makes money in his basement like you do.
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SmokeAndMirrors
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July 09, 2011, 04:16:46 PM |
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Your underestimating 7 year olds.
My underestimating 7 year olds? ^ This is simply amazing. |
Help Bitcoins by buying clothes, technology, books, etc. through people/stores that accept BTC. This will increase overall value of BTC as well as mitigate unnecessary bank transaction fees.
My address -
1EM9HGg1SEa5Bux1rVEPxGqGSfNTTc9EkC
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RandyMarsh
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July 09, 2011, 04:27:06 PM |
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Your underestimating 7 year olds.
My underestimating 7 year olds? Punctuation win |
Stan?! STAN?!?!
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qikaifu
Full Member
Offline
Activity: 168
Merit: 100
God creats math and math creats bitcoin.
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July 09, 2011, 07:05:28 PM |
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Bitcoin is a money that runs on computers. Not only the governments' but everyone's. So, only the people get to decide how money is made.
Your father told you about PEOPLE or GOVERNMENT things when you 7 years old? Won't the kids ask you, what is governement... |
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Jaime Frontero
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July 09, 2011, 08:10:20 PM |
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Bitcoin is a money that runs on computers. Not only the governments' but everyone's. So, only the people get to decide how money is made.
Your father told you about PEOPLE or GOVERNMENT things when you 7 years old? Won't the kids ask you, what is governement... i had my daughter on her very own computer when she was three. she learned her alphabet that year, and to my chagrin developed a preference for walter lantz cartoons over bugs bunny, et al. (since corrected). she grokked government and money before she was six. like the guy said - don't underestimate them. she just turned 22. |
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