The website is among the first of its kind to monetize child exploitation videos using bitcoin. for many people who have not yet decided to get interested in it because they think it is too difficult. File a complaint, learn about your rights, find help, get involved, and more. WIRED … Of course, this video is not enough to learn about Bitcoin, but initiatives like this one could be the gateway to this world for many people who have not yet decided to get interested in it because they think it is too difficult. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Opinion, Visual Arts. Child Pays For Parent sounds like a social welfare program, but it’s not: it’s a blockchain procedure that prevents previous transactions from sitting on the bitcoin network unconfirmed. 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The video explains in a very basic way how Bitcoin works, and the child’s story makes it so enjoyable that it’s no wonder it’s getting so much attention. Eventually, though, it is likely that the child will break free. “Bitcoin is, first and foremost, a currency (or, potential currency),” the economist says. The video at the end is signed by ‘Under the red cat’, but no other information is available about it. We use cookies to make sure you can have the best experience on our site. In fact, the success it is having is certainly not only due to people who already know about it, but in fact it is probably intended to at least introduce the existence of Bitcoin to many people who may not even know it exists. During periods of high congestion, bitcoin transactions can sit unconfirmed on the network while they wait for a miner to process the transaction. The alleged administrator of Bitcoin Fog kept the dark web service running for 10 years before the IRS caught up with him. 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