Tales from the Crypto | Part III: Crypto is for the children

Tales from the Crypto | Part III: Crypto is for the children

(Flifer Technologies, Getty Images) In the final installment of our Tales from the Crypto series, Endless Thread producer Nora Saks and co-host Ben Brock Johnson talk to kids — and parents — who are going cuckoo for cryptocurrency, and some who are not as enthused.

We hear from a pair of Texas siblings making thousands mining crypto each month. A children’s book author convinced that Bitcoin is the future of money, and the key to economic security for the next generation. And an online influencer who calls herself Miss Teen Crypto discusses why she’s spreading the crypto gospel to Gen Z. Crypto is clearly coming for the next generation. But are kids learning about the risks and the rewards?

Show notes Bitcoin: The Future of Money on Goodreads

Show producers: Amory Sivertson, Dean Russell, Nora Saks, Grace Tatter, Megan Cattel and Quincy Walters Support the show:

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This content was originally created for audio. The transcript has been edited from our original script for clarity. Heads up that some elements (i.e. music, sound effects, tone) are harder to translate to text.

Ishaan Thakur: I’m really just a normal kid. I still live a normal life. I wake up, I eat breakfast. I check on the prices of crypto. I look at my machines, but really, that’s it. I live a normal life and it’s nothing too crazy.

Nora Saks: Over the summer, before Choco Tacos were canceled, we called up some kids. Siblings actually. A big brother and little sister.

Ishaan: My name’s Ishaan and I am 15 years old.

Aanya Thakur: My name is Aanya and I am 10 years old.

Ben Brock Johnson: Ishaan and Aanya Thakur live in Frisco Texas. And over the last year and a half, these siblings have been making bank mining crypto. And they’re getting famous for it. Here they are on CBS last October.

Anchor: On day one the Frisco siblings made $3. Eight months later.

Ishaan: Now I’m making over 35 thousand dollars a month.]

Nora: 35 thousand dollars per month.

Ben: That is not my summer job. That’s like, I’m dealing cocaine money.

Nora: If you say so. I don’t know about that. Anyways, we really wanted to know how they pulled this off.

Aanya: So in the spring of 2021, the crypto prices went high, like spiked high and we were really interested in it. So we wanted to invest in it, but we didn’t have enough money to actually buy a bitcoin, so we decided to earn it by mining for them instead.

Ben: Mining cryptocurrencies requires no pick-and-shovel, just super powerful computers that use a lot of energy. So Ishaan, a gamer, watched some Youtube tutorials, read a few articles, and then he transformed his gaming pc into a crypto mining PC.

Ishaan: Our initial goal was not actually to make money. It was just to learn new things and create business ventures. And we just thought that mining cryptocurrency would be a great way to do that. And also make some money while we’re at it. Nora: And how. What started out as a DIY hobby in the Thakur’s garage has grown into a professional mining operation located in a data center in Dallas. And a company: Flifer Technologies . Aanya, the fifth grader, is the financial officer. Ishaan, a highschool sophomore, is the strategy officer.The siblings have also invented their own cryptocurrency. And are dabbling in algorithm trading — basically using bots to buy crypto low and sell it high on different exchanges. They’ve got serious entrepreneurial skills. Ishaan: I actually look up to a very special person. I think you guys know him, Elon Musk? [ Elon Musk : I might pump, but I don’t dump.] Ben: For these kid miners, crypto is just a hobby. But they’re pocketing adult coin that could impact their lives in a real way. So, what do they do with all the money they make? And who gets to call the shots?Ben Brock Johnson: Like if you turn 16, you get your driver’s license and you’d like to buy a Lamborghini. Can you just do […]

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