Is Bitcoin getting better, and for five year-olds?

in #bitcoin6 years ago


Allow us to point you to an infographic which channels the Jesuit approach to proselytism.
We are lucky enough to spend time with some smart five year-olds, and they can have surprising knowledge. Octonauts is layering in some pretty obscure marine biology, for instance.

The national aspiration for those in reception class, however, is for the children to count to 20 by the end of academic year. Backwards as well, said a primary school teacher we asked.

Her reaction to the idea of explaining abstract concepts like the digital transfer of assets to five year-olds? “That‘s absolutely bonkers. Even I don’t understand cryptocurrencies”.

Which perhaps gets to the heart of such efforts. When someone is explaining in comic book format the “double-spending problem”, they are really trying to convince adults crypto is not something to be scared of.

Complex and volatile digital tokens explained via comic book, just the thing for our life savings. Note too it comes from Mike‘s Gear Reviews, which mostly spends its time on prepper essentials, like choosing the right gas mask.

Elsewhere, Credit Suisse asks whether Bitcoin is getting better. Analysts at the bank have looked signs of the scaling problem - the limits on transaction volume inherent in the structure:

With bitcoin prices gaining lost ground in recent weeks, we take a look at transaction fees to gauge the extent to which scaling problems persist. We find the recent upward move appears to have had little impact on fees, which continue to decline.
Here’s the progression of fees charged by the “miners” who effectively process Bitcoin transactions:

And here's the same, but against the price:

Now, try to think of something a five year-old might buy, and imagine telling them it will cost somewhere between $2 and $25 just to spend their special digital money.

Related links:
Meet the preppers - Guardian
Key stage 1 and 2 - National Curriculum

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The prediction is 1 #BTC = 1 million dollars and 1 #Satoshi = 1 cent simultaneously. We will see the results in the future.

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