simple way to understand bitcoin

[tropical0101]

The robot/miner part is just wrong. The piggy bank is not chosen randomly.

always has to come someone who will f$$k up party.. 

[Mainbrain]

it's simple to understand ,but cant learn that your notice.

[Febo]

The robot/miner part is just wrong. The piggy bank is not chosen randomly.

Yes it is. That is why most mine on pools if they solo mine, might never get a reward.

[Possum577]

How to Explain Bitcoin to a 7-Year-Old

“So where do the coins come from? How did it start? Who got the first coins?”

There’s a robot in the room that runs lotteries. Every so often, this robot randomly chooses a piggy bank in the room, and puts 50 coins in it. When it first started, there weren’t many piggy banks in the room since nobody knew about it. Back then, it was easy to win the lottery. Today, there are millions of piggy banks in the room, so your odds aren’t very good.

“… Crazy.”

Nice! So I can win the lottery that'll pay me 25BTC?!?! This is better than I thought!

[tropical0101]

The robot/miner part is just wrong. The piggy bank is not chosen randomly.

Yes it is. That is why most mine on pools if they solo mine, might never get a reward.

Solo if think is impossible now.. So here we need some story about farm (mining) ..  

[botany]

The robot/miner part is just wrong. The piggy bank is not chosen randomly.

If you are trying to explain mining to a kid, you might as well explain the real thing, and not think about analogies.

[turvarya]

The robot/miner part is just wrong. The piggy bank is not chosen randomly.

If you are trying to explain mining to a kid, you might as well explain the real thing, and not think about analogies.

The robot/miner part is just wrong. The piggy bank is not chosen randomly.

always has to come someone who will f$$k up party.. 

The robot/miner part is just wrong. The piggy bank is not chosen randomly.

Yes it is. That is why most mine on pools if they solo mine, might never get a reward.

I really don't know, what your problem is. The explanation is just wrong, because miners get their money, because they secure the system. There is no money randomly send to a address. I don't get block rewards, since I am not mining, even though I have multiple addresses. You can use that analogy for POS not for POW.

[tropical0101]

I really don't know, what your problem is. The explanation is just wrong, because miners get their money, because they secure the system. There is no money randomly send to a address. I don't get block rewards, since I am not mining, even though I have multiple addresses. You can use that analogy for POS not for POW.

This example is just to facilitate understanding of this subject. Can you understand that?

[turvarya]

I really don't know, what your problem is. The explanation is just wrong, because miners get their money, because they secure the system. There is no money randomly send to a address. I don't get block rewards, since I am not mining, even though I have multiple addresses. You can use that analogy for POS not for POW.

This example is just to facilitate understanding of this subject. Can you understand that?

I really don't like to play that card, but I understand, that the people who are hating against my critic are pretty much n00bs.
The concept, that you have to work for the system to get the block reward and it is not given out randomly is pretty essential for bitcoin. Not just that, it is what made Bitcoin special, when it was invented. It is too important to drop, even when you want to simplify the concept.

[specgamer]

Kids these days are all over technology. We don't have to explain to them, they'll figure it out once they grow up. It's the old people we need to explain to, they lack technology experience. Business rely on technology now.

[JanaBB]

graet way to explain:) i like it!

[Santoso]

I tried this method of explaining to my mom .. It seems that works !!! So not only for kids ..

Haha yes. I applied it as well to my sister. And it helped her to understand more after listening my shallow explanation 

[neochiny]

well it really helps. thanks.. but i dont see the fact why should i explain this to 7 yr. old kid.
1st of all when i teach them about btc.. it not impossible that they will learn also about the gambling,
and it will be bad for them..
it is better to explain them to adults that will know what is good and bad for them...
well your advice is still good for adults so thanks..

[faridkifly]

yeah that's good explain
maybe i'll show it to my father and my sister.. they're very begginer to btc and very difficult to learn 

[avatar_kiyoshi]

Give a bitcoin explanation with like lotery system to the kids who 7 years old is very awesome well although that, this is pretty good explanation.

if this can be change to illustration graphic will be awesome.

[Yerm]

lol this makes it sound like everyone who owns a wallet has a random chance of winning bitcoin. i wish it were that way.
i had no idea that a man named satoshi started bitcoin, thats really interesting

[Amph]

nah i prefer the approach with the safebox-chain, where each block is a safe box with its combination, miners try to resolve the conbination to earn the coins inside it(25)

if more miners try to resolve it the coins inside will be splitted for everyone, in the right measures

and all this, started from the first safe block, and everytime you resolve a safebox, another one appear to be resolved

[RealBitcoin]

Our trouble isn't explaining this to children, they'll be able to learn about it on their own, the trouble is the grown adults who are in total denial about it.

20+ year adults have the mentality of 7 year old children so you might have to explain to them in this way 

Sorry but some people are just so ignorant or dumb that this way of explaining it to them could be the only one.

[HarHarHar9965]

Our trouble isn't explaining this to children, they'll be able to learn about it on their own, the trouble is the grown adults who are in total denial about it.

20+ year adults have the mentality of 7 year old children so you might have to explain to them in this way 

Sorry but some people are just so ignorant or dumb that this way of explaining it to them could be the only one.

A person with the knowledge to drive a car also has the potential to cause accidents, destroy lives and create a huge mess, only probabilities matter. Having access to knowledge is always wise, because a negative mind with bad intentions find a way nevertheless. I believe I'd be a good father and drop better knowledge to my kids about gambling. They wouldn't fear it like half of the noobs here, but they wouldn't be addicted to it either, hopefully.

[novadragon]

A good explaination, but it looks like it was written for kids.

That's the best way to learn. The core idea sticks better...

yeah, but I also feel that this is a pretty good description to explain to a child at the age of 7 years