UPDATED 10:10 EDT / APRIL 09 2015

Ask Dr. Bitcoin: How do you teach children to use Bitcoin?

DrBitcoinHeader800x465Bitcoin has seen some pretty dark times, but can the cryptocurrency overcome its most recent obstacles? The Bitcoin Foundation, the entity that’s been promoting the cryptocurrency, may be running out of money. The foundation could simply go away or reorganize into a much smaller group to cut the cost of operations. Making matters worse, another Bitcoin exchange, Buttercoin, has gone belly up due to a lack of venture capital interest, while other exchanges suffer from Bitcoins stolen by hackers or lost credibility by being involved in unscrupulous dealings.

Despite the grim-looking future of Bitcoin, the cryptocurrency still holds promise in mainstream adoption. This week we hear from Mark “Rizzn” Hopkins, SiliconANGLE’s very own Dr. Bitcoin, on industry support and education tactics that can revive and ensure the future of Bitcoin.

In your opinion, what’s the biggest partnership/integration that is making Bitcoin more acceptable for consumers or investors?

Dr. Bitcoin: Even though it’s been pointed to by everyone, I think you have to hand it to Overstock (Overstock.com, Inc.).

Overstock has really put themselves out there in such a way as to be an example to the community on how Bitcoin integration should work, from how they treat employees, to how they treat the ecosystem, to how they treat their customers.

In all things, they seem to want to handle Bitcoin in ways that are both healthy for the company and those that would deal with them.

Overstock is an American online retailer that sells designer brands and furniture at a discount. The company recently invested $5 million on PeerNova, Inc. a Bitcoin technology specialist which describes itself as an “innovator and thought leader” in distributed trustless systems based on the Bitcoin blockchain.

 

How do you teach your children about Bitcoin?

Dr. Bitcoin: There are so many games out there right now for the XBox, Android or web that have Bitcoin as a component of it, Jacob certainly (age 8), and AJ to a lesser extent (age 13) seem to have picked it up and just accept Bitcoin as a fact of life.

Games are an excellent teaching mechanism. Even if they get some of the details of the technology wrong, it imprints that bitcoin is money on the kids. So there’s not an uphill battle of evangelism with them.

The tough thing with the kids is trying to find a solution that’s “kid safe” for them. All the wallets in existence are too complicated for a kid of any age to work.

If you’re looking to get your kid/s interested in the cryptocurrency, there are books that will help them learn more about Bitcoin, such as “Bitcoin for Kids” and “Kids making money online”. The book tackles the basics of Bitcoin, as well as shares stories of how kids all over the globe are making money online. You can see more information about the books here.

 


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