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0 sats \ 0 replies \ @cryotosensei 13 Oct 2023 \ on: What is the best way to explain bitcoin to kids? bitcoin
  1. Bitcoin is often referred to as digital gold. It is different from money because it is not produced by governments.
  2. Because bitcoins are not physical objects, we cannot touch them.
  3. Because we cannot touch a bitcoin, it's hard for us to prove that we own it.
  4. When someone gives you a Bitcoin, his act of giving is recorded in a book called a ledger.
  5. This ledger can be seen by anyone who can use a computer that is connected to other computers in an online network. This is blockchain technology.
  6. Why blockchain? Because the act of giving is recorded inside one block. This block is connected to other blocks. It's like the Lego set you love playing with.
  7. People from all over the world use their computers to prove that this act of giving has taken place. They are called miners. And they are good at Mathematics because they solve difficult problems to prove this act of giving.
  8. Miners work very hard, so they get some digital tokens for their efforts.
My ELI6 attempt!
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