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[–] el_hombre 0 points 2 points (+2|-0) ago 

They are a form of currency. Instead of being backed by a bank or something tangible (e.g. gold) they are farmed by computers (there is not an easy to ELI5 that part).

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[–] classywhiskey 0 points 2 points (+2|-0) ago  (edited ago)

they are farmed by computers (there is not an easy to ELI5 that part).

I'll try... the school bully steals your toy blocks and buries them in the playground sandbox. You offer a reward of 25 coins per block found. One classmate finds a block after only a few minutes of digging. The other kids hear about this deal and start digging in the sandbox for coins too. It becomes more difficult to find them because so many kids are digging for them and starts taking days and special equipment (shovels and pales) to find new ones. Eventually, you have a lot of blocks but are running out of coins, so you have to cut the reward in half for every block found.

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[–] el_hombre 0 points 1 points (+1|-0) ago 

Nicely done

[–] [deleted] 0 points 0 points (+0|-0) ago 

[Deleted]

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[–] el_hombre 0 points 0 points (+0|-0) ago 

I see you got a good answer too. :)

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[–] dasuberchin 0 points 1 points (+1|-0) ago 

Regarding what/how bitcoins can be used, see - https://www.youtube.com/watch?v=Um63OQz3bjo

Regarding where bitcoins come from, see - https://www.youtube.com/watch?v=GmOzih6I1zs

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[–] k_digi 0 points 0 points (+0|-0) ago 

Bitcoins are something that's "on fire" right now !

https://voat.co/v/FalloutCaps/comments/199535

  • : D