Bitcoin: How Cryptocurrencies Work

Bitcoin: How Cryptocurrencies Work

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Whether or not it's worth investing in, the math behind Bitcoin is an elegant solution to some complex problems.

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This Post Has 50 Comments

  1. Stray216

    1 Bitcoin = 708 US Dollars

    (O_O)

    1. May May

      its more like 8K now

    2. John Milner

      MAYBE MUCH, MUCH MORE NOW/https://www.digistore24.com/redir/223831/JMilner/

    3. Miguel Estrada

      $7,250 today…

  2. plasticman2011

    The reason it’s so hard for most people to understand Bitcoin is that most people don’t really understand money. Money isn’t wealth. It’s an accounting system used to facilitate the exchange of wealth. (The paradox of money is that while everyone wants it, no one actually wants it – they want the stuff they can buy with it!) Many people are put off by the fact that Bitcoins are ‘just data’. But that’s what ALL money is, information! More precisely, money is a means for credibly conveying information about value given but not yet received (or at least not yet received in a form in which it can directly satisfy a person’s wants or needs).

    To put it yet another way, money is a ledger. With fiat currencies like the dollar, that ledger is centralized. And that gives the central authority responsible for maintaining that ledger tremendous power, power that history has proven will inevitably be abused. With Bitcoin, the ledger is decentralized. And that means that no one individual or entity has the power to arbitrarily create new units (thereby causing inflation), freeze (or seize) your account, or block a particular
    payment from being processed. We’ve had decentralized money before. After all, no one can simply print new gold into existence. And the ‘ledger’ of gold is distributed because the physical gold itself (the ‘accounting entries’ in the metaphor) is distributed. But with gold, that decentralization comes at a heavy price (literally). The physical nature of gold makes it hugely inefficient for global transactions.

    And this is why bitcoin is important! It is the first currency in the world that is both decentralized and digital. It is more reliably scarce than gold and more private and transactionally efficient than “modern” digital banking. This is why people are excited about bitcoin, it has the potential to be completely revolutionize money.

    1. Anika Khatri

      @Emily Madison Mr Michael Pollack bitcoin trades on a very different level which i can testify myself. That man is a pro damn within seven working days i got my profit and it was double of what i was expecting

    2. Esther Jones

      @Anika Khatri In my case it was easier for me I met Mr Michael pollack through my co-worker who made some good amount from him. Trust is a key factor you re right it’s not easy. On the other hand I’ll continue trading with him he’s one of the good ones,out there he his very trustworthy patient understanding and has a sense of humor

  3. milliamp

    I’m impressed with how well you broke down a fairly complex subject. Nice job.

    1. vardenis pavardenis

      i am going to buy Litecoin cryptocurrency tokens

  4. nonya

    This stuff is so confusing

    1. Divine Psychic

      Ok I get it now thanks!

  5. руслан алексеев

    You know…. I kinda wish I bought some bitcoins when they first came out, so that now I could cash them in. A couple of cents turning into thousands in just a few years? Hot damn.

  6. Ryan-James Muro

    “Now is investing in BitCoin a good idea?”

    2018:
    1 BitCoin is equivalent to 6,980 USD.

    1. Bryan Rogers

      My experienced with online fraudsters is something i never wished for and its still hurt me knowing there are still poor innocent people out there going through the same. There was a time i needed money to help my family and sort out my financial challenges but i ended up getting scammed. i told my girlfriend about it then she introduce me to Mr Michael Pollack i was scared to fall for it but i gave it a try with all i have left within 7 days i got a huge profit that transformed my life now am balanced married to my girlfriend and living my best life thank to this faithful man here is his email ( michaelpollack90 at gmail dot com

    2. Raymond Aubrey

      @Bryan Rogers In my case it was easier for me I met Mr Michael pollack through my co-worker who made some good amount from him. Trust is a key factor you re right Its not easy on the other hand i will never stop trading with him he his one of the good ones out there he his very good trustworthy and a very humble person kudos to him

    3. Kathrine Aubrey

      @Raymond Aubrey i never believe this was true but i gave it a try and my life was transformed i wont say much on here but Michael Pollack remains the best so far less i forget you can reach him on here ( michaelpollack90atgmaildotcom

  7. Casey Fender

    This was actually very helpful, i actually a bit less enraged when here about a currency that i thought you could just create, this is good to know!

  8. Vinoth Comodo

    website security , could do awesome good job dealing with this type of coin, cwatch web security

  9. Bharatanatyam lessons by Calai Chandra

    What a fluent teacher ! Thank you !!!

  10. Phara Herine

    very clearly explained, thank you! this is such an abstract concept to me

  11. Benjamin Alexander

    As with most things on this channel this was an amazingly clear-cut explanation. Thanks. Bitcoin is now worth roughly $6,500

  12. Caradventures

    perfect video for bitcoin dummies!! plus you’re so cute omg

  13. Onur Deniz

    Thanks for explaining cryptocurrency simple and quick without using any “cool and funny”-language. I wish more videos would be like this. Keep up the good work!

    1. B B

      If you need a new software and bitcoin mining machine, or you want to invest on bitcoin and you need a guideline to withdraw your bitcoin .. I recommended @bitcoinsourcecode on instagram. They helped me and my friend to purchased a mining machine at a cheaper rate without any delivery charges. if you dont have instagram, you can contact them via Admin Officer: [email protected]. They shipped it within 3 working days. They are the best Crytocurrency investment company you can trust. or call +1 650 379 4369 / whatsapp : +1 650 246 9893

  14. Robot Icecream Sandwich

    5:14 someone should tell that to the federal reserve

  15. yungg 999

    *I need a new brain after this video*

    1. hezekiah Tee

      Contact Robert_m33 @ Instagram for assistance

    2. Frances Bañaga

      lmao

  16. Augustina De Mevius

    Taken a beating from the bitcoin market lately? It happens to the best of us traders, so you shouldn’t be too hard on yourself. It’s a new year and there’s hope for you!

    1. Muqeet Salami

      I recommend 24hrs_hack_service on |nstagram he’s the best, he help me generate close to 3bitcoin am grateful to him

    2. odun ivanov

      The rate of coin generation is from 3.6% to 43.26% of the growth of new coins per month

    3. Smith Roland

      A mutual friend of mine recommended Dr Sarah Perkins and all i can say is God bless her for me. Her services are by far the best, i started trading with her few weeks ago and ever since then I’ve been able to pay all my debts and got a new car am so excited right now about the profits i made trading with her. She is very legit and surely the best. Text her on whatsapp +13189690008

    4. Yolanda Walter

      @Smith Roland Wow am so happy to read good comments about Dr Sarah Perkins all i can say about her is that God bless her for me, Her techniques and softwares have been proven to be the best. She is legit and surely the best among all you can reach out to her on whatsapp +13189690008

    5. Adams Logan

      @Yolanda Walter In my case it was easier for me through my co-worker who made some good amount from Dr Sarah Perkins. Trust is a key factor you’re right its not easy. On the other hand i will continue trading with her, She is one of the good ones out there, she is very trustworthy, patient, understanding and has a good sense of humor you can reach her on whatsapp +13189690008

  17. Tamrat Dejen

    Cryptocurrencies is really a good way to earn and save your money i became successful in crypto investment all thanks to Mrs Kathleen.

    1. Qiu Wang

      If you want to trade the bitcoin market, being a bull or a bear doesn’t matter. What matters is the time and effort you put into learning and getting a broker who is into the business of making profitable trades, Mrs Kathleen is one of the best brokers in the commodity now.

    2. Sisay Tafari

      @Qiu Wang So what do I have to do to get started ?

    3. Cholera Badiani

      Looking at my bit coin wallet now and I’m so glad and filled with gratitude to God and Mrs Kathleen Gregory. Thanks to the person who introduced her to me just like I’m doing now.

    4. Sisay Tafari

      @Tamrat Dejen I appreciate

  18. John Butler

    After several winnings with Denis mark , i can boldly say investing in crypto is profitable if you have the winning strategy

  19. Brian Winstock

    i count myself as a successful trader because of the amazing trading strategy of Denis Mark Trading

    1. Shelly A

      wow you also trade with Denis, that guy is a genius he keeps making huge profit

    2. CAND HOODS

      Can you tell some details about Denis mark

  20. Xiomara Thompson

    I came to know about bitcoin and cryptocurrency in 2016 when the noise began to fly around and trend but I was not moved and so didn’t bother to check on it and even learn more about it but at a time I decided to learn the advantages it will gives me and convenience it will serve as well. So by August 2018 I began to study and find out what cryptocurency is really about and without prior proper knowledge and also getting on the research myself, I watched the bull run in December and and forgot to capitalize on it and by January 2019 I decided to take action and trade cryptocurrency but I was unlucky and didn’t succeed because of improper mentor-ship and before January could elapsed I have already given up on my dream to make more money with bitcoin and cryptocurrency in general. Even though I failed I didn’t relent as I seek for a proper mentor-ship to on how to make the most out of bitcoin and cryptocurrency in general. I finally met my savior Mrs Linda by mid February and she mentored me for just two week and that changed my story. Just two weeks and I have mastered the act of trading perfectly with just the help of Mrs. Linda. I know many people might also want to learn professional trading and I will urge you not to waste more time and go ahead to contact Mrs. Linda through her on telegram @lindastewart or Whatsapp. +447723712364

    1. Maria Miguel

      thanks

    2. Clara Mccarthy

      thanks

    3. Scott Hodge

      you did the right thing

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