So, what does a miner do when solving a hash? Let’s imagine a previous block:
Previous block:
– Hash of the previous block: abc123
– Timestamp: 1637284650
– Nonce: 0
– Transactions: 1. Tx1: 10 BTC from A to B 2. Tx2: 5 BTC from C to D 3. Tx3: 3 BTC from E to F …
The miner creates the current block, concatenates all the data (pay attention to the nonce, which I’ve marked in bold):
Concatenated block data: abc123163728465010Tx1Tx2Tx3…
Then, the SHA-256 hash function is applied to the entire block:
Hash = SHA-256(abc123163728465010Tx1Tx2Tx3…)
The result is a unique 256-bit hash, which can be seen as a hexadecimal string of numbers and letters. For example, suppose the resulting hash starts with some zeros (just to get a realistic example, I will explain it afterwards):
Your guide may work for your parents but it cannot be used generally for people in that age range. There’s some points to consider like how tech savvy are your parents; are they computer literate? If they are not, then they cannot possibly understand the concept of nodes, hash rates or other technical details of Bitcoin.
People from developing countries where a formal education does not go so far back the family tree have to teach bitcoins to elders like they are teaching a toddler. How do you talk to the people in
these images about technical discussions about Bitcoin?
I would have to simplify that technical part, I have written the pitch as a guideline, but of course it has to be simplified in some situations.
With regards to the picture you sent, in that case, "luckily", in some of those countries, either the fiat currency has been so devaluated, that there is no need to show the difference against bitcoin, as it is obvious. Or... bitcoin is simply a way to "bank" yourself, as it is not easy to access a bank account in those regions (also to send and receive bitcoin overseas)