How Bitcoin Works Under the Hood

How Bitcoin Works Under the Hood

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A somewhat technical explanation of how Bitcoin works. Want more? Check out my new in-depth course on the latest in Bitcoin, Blockchain, and a survey of the most exciting projects coming out (Ethereum, etc):
Lots of demos on how to buy, send, store (hardware, paper wallet). how to use javascript to send bitcoin. How to create Ethereum Smart Contract, much more.

Shorter 5 min introduction:

Written version:

My Bitcoin address: 13v8NB9ScRa21JDi86GmnZ5d8Z4CjhZMEd

Arabic translation by Ahmad Alloush

Spanish caption translation by Borja Rodrigo, [email protected], DFJWgXdBCoQqo4noF4fyVhVp8R6V62XdJx

Russian caption translation by Alexandra Miklyukova

Italian voice over:
Italian captions translated by Simone Falcini, 1H5KdCnBooxfqpXtyQBBAKKRU7MkCZCVCe

This Post Has 52 Comments

  1. Simply the best educational video. I’ve been referring my friends to this video when they ask what Bitcoins are.

  2. My brain hurts, but it is indeed explicative 😉

  3. I feel stupid. I watched the video twice and my head is still spinning

  4. Thanks for the explanation.  But still having a hard time understanding why Bitcoin exists.

    1. @cobra60six
      you can get others to cash out for you or with faked id don`t kid yourself

    2. @Hd Dota you could, but that someone else will usually want $ etc for doing it. 

    3. people are using it to develop algorithm developments baugh. it sounds curious to me, but i’m not sure what to expect, regardless of whether or not it is deflationary. 

    4. @***** goats!

    5. This of it this way bits are more cost effective to print.

      conventional physical wealth that has no intrinsic value is the past.

      The future will 100% use bits/pixels for the representation of wealth.

      Also both physical convetional and physical bits can have intrinsic value.

  5. Actually one of the best bitcoin movies I’ve watched.
    Thank you for explaining this sh*t for me 🙂

  6. who the hell made all this possible

  7. yeeeeeah……I’m gonna have to watch this again.

  8. Next time: how Bitcoin works IN the Hood

  9. Thank you, thank you, thank you!

    Finally an explanation of how Bitcoin works that makes sense for paranoid programmer like me. No hand-waving, no vague references to wallets and apps and exchanges. Just the facts with enough detail to make sense, and without drowning in mathematical details.

    1. Interesting

  10. This is a brilliant exposition—accurate and brief with not a word wasted. Congratulations (and thanks).

  11. 0:10 overview, 1:38 sending money, 3:45 txns and ledger detail, 6:19 complex txns, 7:40 anonymity, 9:20 txn security, 10:50 ordering of txns, 11:02 blockchain, 12:10 crypto hash, 13:37 end of chain insecurity, 14:05 double spend attacks, 16:00 why double spend is hard to pull off, 17:45 mining, 18:30 txn fees, 19:00 mining pools, 21:11 recap

  12. Thanks for uploading this, I’ve been watching quite a bit about Bitcoin and this is the most in depth video I’ve found yet. Must have taken quite a bit of research to get all of this figured out.

    1. months and months 🙂 glad it helped.

  13. This would be a great asset, to country like mine, Somalia, that does not have central bank and you always have to keep your money as cash in your home that makes it very dangerous.

  14. This is just what I have been looking for, I’m finally wrapping my head around the blockchain. Thanks so much! 🙂

  15. i think my brain broke….

  16. That was brilliant and in little over 20 minutes answered a ton of questions I couldn’t find an answer for in weeks of reading BC related articles/tutorials. Thanks so much for putting this together!

  17. omg this system is so intelligent and also great explanation; mind = blown

  18. This went way over my head. But I kept listening anyways.

  19. OMG! My neurons just fried.

  20. you’re the first person to have explained such a complex system in such a simple way .. thankyou for this vid !

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