25 students take the orange pill in the Stanford Marshmallow Experiment.

In a study on school kids in the Isle of Man, subject 25 children took the orange pill during the Stanford Marshmallow Experiment.

A Bitcoin (BTC) experiment on the Isle of Man involving the Lightning Network and 25 schoolchildren has yielded interesting results.

In the British Crown Dependency of the Isle of Man, 25 year-6 students, one teacher and one teaching assistant took part in a light-hearted Bitcoin study at Willaston School.

Location of the Isle of Man, including Bitcoin B signs for merchants that accept Bitcoin. Source: Bitcoinevents.co.uk
The Isle of Man, including Bitcoin B symbols for merchants that accept Bitcoin. Source: Bitcoinevents.co.uk

MSW, a Data Analyst at CoinCorner, told Cointelegraph that he visited the school to discuss job opportunities and to inspire the kids. He talked about his own career path which spans nuclear reactor study, data analytics, and now Bitcoin. The talk inevitably delved into the Lightning Network and CoinCorner's new creation: Lightning-enabled Bolt Card.

“I talked a bit about Bitcoin, went through the Freddo index – how the price of a Freddo is exploding – then showed them the pound money supply over time and then asked them what they knew about Bitcoin.”

A small chocolate frog-shaped bar with a low price, the Freddo has been around since Brits were young. In 2022, a single Freddo costs 27p (nearly $0.40), according to the following table:

Freddo chocolate bar price analysis. Source: vouchercloud.com
Analysis of the price of a Freddo chocolate bar. Source: vouchercloud.com

The kids in the classroom were aware of Bitcoin and some of its features. One child came up with the 21 million hard cap, and overall, their feelings about Bitcoin were positive. At one point, MSW was even asked if buying nonfungible tokens (NFTs) is a good idea. He set them right before he gave each student a Bolt Card loaded with £5 credit (21,554 Satoshis or $6).

The Bolt Card is the first Lightning Network-enabled card that enables near-instant payments at merchants accepting BTC. The Lightning Lunch story demonstrates how it works in detail.

Crucially, MSM included an important caveat as he gifted the card to the kids. "I sort of posed it as do you want to hodl or do you want to spend?” Having explained the deflationary, number go-up technology that enshrouds Bitcoin, he also showed the class where they could spend their Satoshis if they so wished. Gourmet Shakes, a Bitcoin-friendly milkshúsh joint was a mouthwatering proposition.

MSW was aware that the Bitcoin trial was reminiscent of the Stanford Marshmallow Experiment, a pop psychology experiment that took place in 1972. The experiment examined delayed gratification in children by offering them the choice between an immediate reward and a greater prize if they waited a period of time.

One of the slide's from MSM's presentation. Source: MSW
The slide from MSM's presentation.

The "Isle of Man Satoshi Milkshake Experiment", despite not having the same ring to it, yielded interesting results. Of the 27 participants, only five have spent their Satoshis, meaning that 22 are Bitcoin HODLers.

As the experiment was conducted on May 29, the £5 of Bitcoin is now worth around £3.70. If they want to spend their Bitcoin on a £3 milkshake, they need to act quickly!

MSW and the class holding the Bolt Card. Source: Willaston.sch
The Bolt Card and the group that owns it.

MSW jokes that, unfortunately, the kids are too young to have a CoinCorner account. But the experiment is worthwhile in terms of promoting Bitcoin adoption and demonstrating that spending Bitcoin is easy. Plus, it's part of a growing subcategory of Bitcoin culture, from Bitcoin children's books to educational tools for kids to understand sound money. 

The UK's 'Bitcoin Adventure' shows that BTC is a family affair

Molly Spiers, head of marketing and communications at CoinCorner, told Cointelegraph that the Isle of Man is rapidly becoming a leading European Bitcoin destination. Around 40 businesses on the island of 85,000 people accept Bitcoin now, she said.

“We’re on a mission to make it [Isle of Man] a Bitcoin Island–have people come over and live on a Bitcoin Standard. Hotels and accommodation are ones we’re missing at the moment though.”

The end of this year is a good time to go see the schoolchildren who participated in the milkshake experiment, and show them how to sweep their Bitcoin off the card if they wish.