frdysk
@frdysk
so normie friends asked again, wtf is crypto, how is value created out of thin air, i almost had a meltdown explaining, i realized idk how to articulate it as well as i'd like to think the questions asked are really basic: what is a token? what is a smart contract? what's the difference between bitcoin and ethereum smart contracts? why are there so many type of blockchains? do blockchains use the same type of tech? why do some institutions favor one over others? if we can create our own tokens, why is not everyone doing it? 🤪
11 replies
0 recast
22 reactions
Cynthia Wang
@cynthiawang
how would you explain a smart contract to a 12 year old
1 reply
0 recast
1 reaction
frdysk
@frdysk
that's really tough, not even sure where to begin with, assuming the 12yo knows what tiktok credit is, i'd roughly say buying tiktok credits through a 3rd party that has the ability to enable scheduled partial buy, in this case represnting a 'smart contract', eg. put in 10 usd at 3rd party platform, they will spend the tiktok credits, let's say 1 usd a day at 10% commission (gas fee) idk if this works
0 reply
0 recast
0 reaction