01 Feb Bitcoin explained in quirky online “kids book”
Baffled by bitcoin? One company (who admittedly are trying to spruik their own app) has gone to the trouble of writing and illustrating an online children’s book to explain the cryptocurrency.
Entitled My First Bitcoin And The Legend Of Satoshi Nakamoto, the in-browser “legend” says that in 2008 someone called Satoshi Nakamoto came up with the idea for bitcoin.
A series of beautifully drawn images are used to explain that while not much is known about the creator, the purpose of bitcoin was to be free of the controls of any one country or government.
Like gold, or silver, there is a finite amount of bitcoin in the world. That is how bitcoin holds its value, but as supply and demand go up and down, its price changes over time.
Each bitcoin is unique, and verified in a database called the Blockchain.
At the end of the story, the creators comment on how the value of bitcoin has skyrocketed in the last year (although recently slumping). At the time of writing this, 1 bitcoin costs 12,379 Australian dollars.
Whether their clever pitch makes you want to get in on Cash App or not, it certainly is an enjoyable way to grasp the basics of bitcoin!