ELI5: Explain Like I'm 5
Do you demand a simple and concise explanation of complicated and complex topics?
Fret not, dear voater, for ELI5 is here! Ask a complex question, and get a simple answer!
General guidelines:
Your explanation should be friendly and straightforward, but not condescending.
- 1.1. Above all, you're here to answer questions concisely. Don't get needlessly hostile or complicated in your response.
- 1.2. We aren't literally 5 year olds. Well, most of us aren't. We can handle big words and long sentences. There's no need to dumb down an explanation unless specifically asked to do so by the asker.
- 1.3. If specified by the asker, responses to particular levels of expertise are encouraged.
/v/ELI5 is a place to get simple explanations of complex topics.
- 2.1. Yes/no answer questions, and questions pursuing an answer without an explanation of that answer, are not allowed.
- 2.2: If it doesn't have an explanation, it isn't an explain like I'm five question.
- 2.3. Refrain from posing hypothetical or personal questions. Ideally, every question should have a factually based, reasonable explanation.
Feel free to send prohibited questions to /v/nostupidquestions, they'll help you out instead!
This isn't a debating subverse:
- 3.1. Don't ask for personal opinions (and don't ask potentially loaded questions)
- 3.2. Don't present a biased response
Top-level comments should be on-topic.
- 4.1. Self-explanatory, really.
- 4.2. Jokes are allowed and appreciated if they're on topic and not a whole top-level comment.
Someone came here for an answer, don't send them somewhere else.
- 5.1. Your response should not consist wholly of a redirection link within a sentence.
- 5.2. It is acceptable to link to outside sources for singular words or concepts. This can be done to save you explaining concepts that are non-central (yet still important) to your response.
- 5.3. Don't copy+paste from outside sources without paraphrasing. Outside sources don't always explain concepts in layman's terms.
Don't know? Don't teach.
- 6.1. If you don't know what you're talking about, don't try to teach someone else about it.
You are allowed to post a question that's been posted before, but to save your own time, search for it before posting anyway.
Tag your post as "Explained" once you're satisfied with an answer
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[–] sodypops [S] ago
Sorry for the barrage of questions but I'm just eager and curious
How much is a Gradcoin worth at the moment? also I'm assuming you imagine the future of it is going to do well and take off more than the bit coin if thats where you're putting your money?
[–] Mateon1 0 points 1 point 1 point (+1|-0) ago
At the moment it isn't worth much. The price fluctuates quite a bit. As more people get into gridcoin, we can expect the value to increase.
Right now the exchange rate is 0.0000028 bitcoin per gridcoin, which translates to ~0.82 cents per single gridcoin. In a month with a 4 year old computer with some newer parts I managed to mine a bit over 5 000 gridcoin in PoR payments only. So ~4.11 US dollars at current exchange rate in a month. This is a noticeable amount, but nothing spectacular.
An investment is always a risk, but I believe Gridcoin is a stable cryptocurrency. I'm not an economist, but it has a stable base community, and is constantly improving. Gridcoin only needs more public outreach, so more people invest in it, strengthening its value.
Note: You shouldn't trust random strangers on the internet with your money, investments can be risky, Gridcoin being no exception. If you do want to invest, do your own research as well.
[–] sodypops [S] ago
Haha i fully understand and I highly appreciate you telling me to be cautious
just to make sure I understand that thats 5 grid coins of a specific type that is ~4.11 not an actually 5,000 ~4.11 cause that would be sad lol
That being said once I get back home to the states ill probably make a rig for myself and start mining then work on PR for GridCoin (marketing major) and try to get more people to sway towards us to help our investment
BUT i'm gonna look into a little further obviously to decide if its what I want