\[Philosophy\] Need to boil down ftc and crypto's to a 1st grade level
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Ftc: 72DhvqNrDbcRo9Ew7atMkwfY3AbtckCc3V
I like the idea of giving away ftc’s especially this Christmas. It’s a perfect way to open the door and introduce people to cryptocurrencies. I have personally been involved with the cryptocurrency economy for 4 weeks and have poured myself into learning and rapping my mind around this. It is not easy to do. It’s like taking a drink from a fire hose. IT definitely takes consistent, small bites of information that build on each other.
For those that are tech savvy and understand script, the other one bitcoin uses, the differences between cenyralized and decentralized currency, online wallets and therr standen a encrypto passcode to have access, ability to go on the exchanges and purchase ftc, btc, ltc etc…, qe,1,2,3 and forever, the debt ceiling and how it will always go up, the federal reserve not being a part of the US Government but actually is a business that has stock holders and nobody knows who runs it etc…the list goes on and on
would be like me taking the great minds on here that fully understand mining, cryptocurrencies, programming and throwing you in my Kitchen on a busy evening expecting great results…its not foing to happen. We, as a team, need to boil cryptocurrencies down to a 1st grade level. Once that someone gets the basics and the lightbulb goes off, its only full force ahead with the masses…and thats what we want and need, a currency the masses can use.
just my thoughts… -
Sorry for the typos, Im using my phone and it’s hard to go back in and edit. Also, my reference to the kitchen was because I own a restaurant…soon to be adding feathercoin.
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[quote]We, as a team, need to boil cryptocurrencies down to a 1st grade level[/quote]
100% agree. As i said yesterday for this to be mass-adopted it needs to be stupid proof, which means it needs to be something easy enough a concept for people outside of the tech community to get. -
I completely agree. I myself(id say a beginner-level in crypto/mining) had been put in situations where i needed to explain the whole crypto currency and the whole mining idea to people who had 0 knowledge of it. Let me tell you, it wasnt easy at all.
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I agree.
The most common question I get asked is ‘how can it have value?’ People just don’t seem to able to grasp that it has value because of confidence, just like actual currency.
Finding a way to boil it down to a simpler level is, in my opinion, the key to gaining proper penetration into peoples every day lives…
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Start with pennies as currency. Show how you can trade your pennies for a snickers bar, and use those pennies to pay for some service.
Then show how you can tally who has how many pennies on a piece of paper. Show the piece of paper to everyone.
Ask everyone to make their own copy of the tallies. Go and do some trades, each person recording their trade on their individual record sheet. Show them how the records don’t agree.
Now make one BIG tally sheet for everyone to see, and every time someone makes a trade, they have to loudly and publicly announce it for everyone to hear, and the BIG tally sheet has to be updated by someone. Show how no one can modify their own tally to gain more than they really have because everyone else in the room will cry foul and stop them from making the change.
Now this particular way of doing things is a little cumbersome, so someone named Satoshi Nakamoto invented a technology that allows computers to do it for us. We call this collective technology stack “crypto-currencies”, and each time we make a new one, we give it a name, like Bitcoin, Litecoin, and Feathercoin, but they’re really all the same technology.
The coins are the pennies. They get traded around in exchange for other things.
The big tally sheet is the blockchain. It records who owns what coins, so you don’t actually need to carry copper around in your pocket: To see how much you have, you just look at the blockchain.
The people who are announcing their transactions to the rooms are really announcing them to the network on the internet.
The people who are recording the transactions that people announce to the room, and stopping people from cheating by taking more than their fair share are the miners. They’re getting paid for their services, because every time you make a transaction, you are supposed to donate a small amount to them, but you don’t have to if you don’t want to… and they don’t have to record your transaction if they don’t want to either. So it’s a good idea to give them some, because they are providing a valuable service. They also get lucky sometimes, and find more coins to spend, and this is where the coins come from in the first place: When lucky miners find them, just like when real miners get lucky and find gold in the ground. -
This! Kevlar. This was a very useful analogy to help me understand.
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You get it, there is a very lot more to crypto than most people realise, great to have you on the forum.
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[quote name=“Kevlar” post=“40180” timestamp=“1386267588”]
Start with pennies as currency. Show how you can trade your pennies for a snickers bar, and use those pennies to pay for some service.Then show how you can tally who has how many pennies on a piece of paper. Show the piece of paper to everyone.
Ask everyone to make their own copy of the tallies. Go and do some trades, each person recording their trade on their individual record sheet. Show them how the records don’t agree.
Now make one BIG tally sheet for everyone to see, and every time someone makes a trade, they have to loudly and publicly announce it for everyone to hear, and the BIG tally sheet has to be updated by someone. Show how no one can modify their own tally to gain more than they really have because everyone else in the room will cry foul and stop them from making the change.
Now this particular way of doing things is a little cumbersome, so someone named Satoshi Nakamoto invented a technology that allows computers to do it for us. We call this collective technology stack “crypto-currencies”, and each time we make a new one, we give it a name, like Bitcoin, Litecoin, and Feathercoin, but they’re really all the same technology.
The coins are the pennies. They get traded around in exchange for other things.
The big tally sheet is the blockchain. It records who owns what coins, so you don’t actually need to carry copper around in your pocket: To see how much you have, you just look at the blockchain.
The people who are announcing their transactions to the rooms are really announcing them to the network on the internet.
The people who are recording the transactions that people announce to the room, and stopping people from cheating by taking more than their fair share are the miners. They’re getting paid for their services, because every time you make a transaction, you are supposed to donate a small amount to them, but you don’t have to if you don’t want to… and they don’t have to record your transaction if they don’t want to either. So it’s a good idea to give them some, because they are providing a valuable service. They also get lucky sometimes, and find more coins to spend, and this is where the coins come from in the first place: When lucky miners find them, just like when real miners get lucky and find gold in the ground.
[/quote]This is great. Now we need to arrange a community meetup, play out this exact demonstration, film it, and put it on Youtube. Also, I sort of want a snickers bar now.
