Education 

Bitcoin: How Cryptocurrencies Work

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

Hosted by: Michael Aranda

Special Thanks: Dalton Hubble

Learn more about Cryptography:
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3,231 Thoughts to “Bitcoin: How Cryptocurrencies Work”

  1. Noah King

    Bishop punish consume fhlwau ought tie throat will performance federal.

  2. Angel Stankov

    Please donate me some,I need money for college… adress: 1CKc5hB7gnc4jKyGCYz6tDyXaA8PUQyxdb

  3. Gogujju

    if anybody want ethereum miner then contact me –> Anshulpatel278@gmail.com

  4. Viver Para o Futuro

    fraude

  5. Muhamed-Hejsam Khechan

    to the moooonnn

  6. huzam hussain

    If they stop producing bitcoins by 2140 how will miners from that year onwards get paid?

  7. Lynn Soeters-Taylor

    Great video and explanation. Nice!

  8. qwertyurfrnd1

    Friends try binance which offers an excellent user security . Also they had quite an option of altcoins which simply makes them the most suitable option currently available in market…

  9. muna vasquez

    I make up to $7,000 to $10,000 every week with the add of lucas moura strategy. he has the full understanding of crypto currency management strategy. If you confused contact him lucasmouraja@gmail.com.. He has been of great help.

  10. tyrone o'meally-bowley

    Check out this free app from Coinbase that lets you conveniently and securely store, and trade digital currencies like bitcoin and ethereum. You can get it from

  11. Ben Bravo

    It’s a shape of thing to come to a financial world but I still hardly understand it. Only me?

  12. Grant Mitchell

    Why did I get a add about cryptocurrencies when I clicked on this video…

  13. Kaila Reyes

    So this is completely legal ??

  14. Axei mash

    hi theres this game called rotmg and theres this potion called mana and it was only uptanuble by doing one dungeon and only 1 of the 10 people can get it so now mana is getibal by 8 people in 1 dungeon so is mana going down in price like ebt cion

  15. Robert Hernandez

    Brilliant! The best explanation I’ve heard of Bitcoin so far. Maybe only because Bitcoin is getting more familiar by the day, but that makes it more and more important to understand.

  16. DeShaun de Vlugt

    Binance is located in HK and is known for its crypto-to-crypto trading. It is a new exchange and has already become popular among traders who are looking to trade in different coins and ICOs. The growth has been tremendous and is best known for its low transaction fees.

    Best of luck on your Crypto Endeavors!

  17. vaibhav pratap jain

    What if you get hold of someone else’s public and private key? Then one can do a fraud.

  18. Alan Henderson

    Excellent explanation. Thank you.

  19. Charles Beck

    Scam. The earth is flat btw.

  20. Dhruvin Vadalia

    Guys I just got $3426on my paypal from this tool without paying anything:(just go to) ~> freepplmoney.win/?SKkbtp

  21. ryan C

    WANT TO GET STARTED IN BITCOIN?

    Binance is one of the most popular crypto exchanges sign up here to buy bitcoin and other crypto currency’s

  22. Daniel Akachi

    well explained!!

  23. finch b

    Best leverage plartform

  24. Tarini nayak

    The best cryptocurrency exchange: join today…

  25. Crypto Dan

    best facebook group for making money in crypto!!!

  26. PayDayToday

    For cloud mining, the best hashflare referral code:

  27. Miles Dixon

    Easily the best BTC video out. thanks

  28. Connor Jensen

    Please do a video on the environmental impact of Bitcoin.

    1. Connor Jensen

      Or just cryptocurrencies in general

  29. SlimeMan

    I got a bit coin ad in this video.

    *How ironic.*

  30. Đorđe Karađorđe

    this CryptoCurrency is going to explode…Its price is rising so fast last few days! And You’ll get 10-100 free of them ( I got only 10), but every is worth around $0,5291 right now… you need only mail and password…it’s worth a try…

  31. Aysh B

    What is the signature?

  32. Truffalo Farms

    Discord crypto pump group, over 50k members! 2-3 pumps a week, last pump had potential 50-100% profit

  33. wtficantgetausername

    this vid provides simplest explanation compared to other ones

  34. Ami 84

    The easiest and fastest (not to mention cheapest) way to purchase these coins is to follow these simple steps:

    1.Sign up to Coinbase via this link:

    (we will also both receive $10 of free bitcoin if you go via the above link – you may need to copy &  paste into your browser)

    2. Purchase Ethereum to transfer to Binance (Bitcoin costs a LOT more to transfer and takes longer)

    3. If you don’t already have a Binance account – sign up here: 
     
    (you may need to copy and paste into your browser)

    4. Once signed up to Binance, click on ‘Funds’ at the top of the page and look for ‘Ethereum’ – then click ‘Deposit’

    5. Copy the long deposit address

    6. Go back to Coinbase and click on ‘Accounts’ – you should see your deposit sat in your Ethereum wallet

    7. Click ‘send’ and paste in the wallet address that you copied from Binance –  I find it easier to click ‘send max’ rather than work the amounts out.

    8. It will usually take around 10-20 Mins to appear in your Binance Wallet (longer during busy periods)

    9. Once it shows in your Ethereum wallet on Binance you can purchase coins!

    10. Remember to click on the ETH tab and not the BTC tab as you will only be able to purchase with the combination that you have transferred – ETH

    (Only invest what you an afford to lose as the crypto world can be very volatile)

    Binance –  
    Coinbase –

  35. Houck

    Love this episode!

  36. dystopian786

    hundreds of dollars…that’s cute

  37. Incredible Traders

    how to make 30,000 dollars in the stock market in 2018
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  38. Incredible Traders

    This video talks about the creation of bitcoin and how to go about buying them as an investment.
    bitcoin mining is the next best thing when it comes to crypto currency

  39. gerry89

    I have a bitcoin miner friend

  40. Gray Fullbuster

    Bitcoin ad b4 this

  41. Ashwin Balani

    Superb work bro

  42. Keith Blanks

    The last day of 2017 has Bitcoin at over 13k USD

  43. Joseph Belleza

    no one explains things like you guys do. awesome!

  44. Djairo Hougee

    wth was the add i just watched?? (was a swissborg add btw)

  45. Brad Gagliano

    if you want to make some real money from bitcoin, and dont own any miners. an dont know how to trade join usi tech! ive been making a killing!!

  46. Vineeth Sam Varghese

    Great introduction to bitcoin, awesome!

  47. Shawnee Longbow

    Bitcoin is creepy..

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  49. bakayaro

    You are my favorite guy here in sci show. This is also my favorite video as I already spent $6000 on BTC.

  50. Andrew Wrede

    As of 12/31/17, bitcoins price is 13388.85

  51. Scott Campbell

    I just don’t understand how this is legal. At least in the us you can only use the dollar. Technically if anyone starts accepting these they could be shut down. I know it’s difficult to shut down online but eventually this seems it will collapse. Digital or not if something is”created out of thin air” then inflation will eventually catch up

  52. JonnesTT

    so 2140 bitcoin will be dead. To be honest, that’s a damn good lifespan for a global economic system ._. And we will have other ways of exchangement to simply pay out the bills and wipe the ledgers to start anew. The only problem I see will be that banks still want to raise some coin by other means with interest, basically creating more money like they always do.
    But i’m a optimist, so comment section, did i get something wrong? 😀

  53. Baris Mihcak

    davor coin:

  54. Jonas Milton

    I’m more confused than before 😂

  55. ghosttwo2

    @4m30s “Michael sends $36,000 to Olivia” When I was in college, Bitcoins were worth pennies at best. Now I could live off of just one of those for a year. Sure it’ll crash just like ‘tulip mania’, but after that it’s basically a mutual fund.

  56. Zogg from Betelgeuse

    I wonder whether all this mining computation power can’t be put to some practical use – I dunno, maybe protein folding prediction, or finding a winning strategy for checkers, or weather forecast, or hacking Putin’s email account…?

  57. Awsome Bird

    BEFORE WATCHING GOT A BITCOIN ADVERT

  58. Rohan Patel

    As of right now, bitcoins have gone up from $708(at the time of this video) to about $12954.

  59. jackthe ripper666

    In 2017 6 bitcoins are worth over 100,000k or whatever you prefer.

  60. RypeDub

    can you do a video on altcoins?

  61. BigMad Starr

    Short, concise and informative overview of Cryptocurrencies!

  62. xXMysteryGamerXx

    Investing in Bitcoin is weird though it’s complicated because you never know if the worth of one Bitcoin is going to grow more than what it is now or if it’s going to deplete less than it is now people that invested in it a long time ago or striking it rich right now they have millions of dollars or more depending on how much they invested into Bitcoin either way anyone who invested a while ago is really rich right now or even anyone who invested within like year like 2016 one Bitcoin is worth over $7,000

  63. Kyle Kashuv

    Yo boys trying to help out here. Just a guy trying to help. I finally found an actual good crypto discord server. No joke ive gained 75% profit the past 3 days because of it. Check it out if you want good luck!

  64. xXMysteryGamerXx

    The fact that they’re all bidding 2 or 5 Bitcoin on a poker game is kind of scary to think of because one Bitcoin is worth like $7,000 now.

  65. Joshua Bullock

    15k now.

    Jesus

  66. QueTal Games

    Lul $700 tell me… Was it Worth investing?

  67. swarlie zero

    hey guys, help a brother out and join Bitconnect you can make some massive Profit. use my link to help me out,

    if you want to send me some bitcoin feel free it would really help me in my mission to rule the world
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  68. demdoni

    Wanna trade bitcoin on the best site, and even get som free coins to start off with! go here

  69. Neuto

    3:10 This part I never quite understand. Is there really *one* bitcoin network? If everything’s decentralized, who gets to decide what the network consists of?

  70. DragonOfTheSkies

    Lol, hundreds of dollars. From that I knew this was one hell of an old video.

  71. Danny Greene

    We bought 1000 bitcoins in 2010 -2011

  72. Nathan Richter

    But bitcoin is worth $17,000

    1. Navboi

      made in 2016 dude

    2. DragonOfTheSkies

      This video is a year old

    3. Nathan Richter

      Not hundreds

  73. Mohd Haneef

    speak slowly please

  74. Fern Mackenzie

    “say there were a coin worth HUNDREDS of US dollars”

    LOL

  75. thereisnospace

    5:13 thats where you’re wrong kiddo!
    thats how the financial system ACTUALLY works… banks give out the money on theoretical availability, and thus “create” money out of thin air.

  76. JustKidding

    If you are going to invest in it, you might want to try out binance exchange.
    Registering is free ofc ;’-)

  77. Silvia Stn

    I actually got an ad about bitcoin before this. I am…..mindblown

    1. Samuel Bolt

      Silvia Stn Happy new year. Would you want to invest little on bitcoin? Feel free to reach me on via email at sammybolt70@gmail.com then I will tell yhu how I made $500k in 3 months and the secrets behind it.

  78. faiz

    Very nice. But I did not quite get how multiple transaction problem gets solved by SHA256.

  79. myfirst name

    I was curious about bitcoin and found this interesting video.

  80. AidanVader12

    So it’s worthless if no one goes along with it

  81. PG garcia

    In 2040 there will be organizations hunting old hard drives looking for a bitcoin worth $1 million

  82. Milan Djukic

    Hi guys! If you are interested in buying some of these domains – btcridge.com, bitcoindune.com or bitcoinpug.com, please let me know! 🙂 Peace!

  83. Mazabrei

    I never understood bitcoin or why you couldn’t just give yourself more or what mining meant. This was such a good explanation. I have zero actual computer knowledge and it made sense to me!

  84. Deepanita Sen

    amazing

  85. Edwin Juarez

    For the latests pumps and dumps follow this community chat!! You decide to join or not, get it with or it. Haha

  86. Mammon Mammon

    If you want some speed cash in easy&secure way it is something like “pumpanddump” look at this new telegram channel
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  87. Kristaps Kublins

    This might help you all. Invite to the private crypto trading group.

  88. PAVAN NAYAK

    I am from 2050 and in 2050 1bit coin is 0.000000000002 dollar

  89. Genesis

    This stuff is so confusing

  90. bryce saulong

    Guys I just got $5623on my paypal from this tool without paying anything:(just go to) ~> freepplmoney.win/?51DPuO

  91. F. Exprt

    Best explanation in such a short time. But I can see how people would still have many questions and I do too when it comes to further details but the general idea is now crystal clear. People made millions in a year or lost millions. But I think we are far from it collapsing and profitability is there for sure and especially if price drops due to bad media or some guy getting killed over his coins for example. Not wishing anyone harm. Just giving examples what would scare people and drop the price fast due to them selling but the price would go back up naturally at this stage at least. No world bank is yet affected by it so big enemies is a concern not there yet. If you follow. I DO HAVE ONE OF MANY QUESTIONS IF ANYONE KNOWS: WHERE WILL THE MINERS EARNINGS/Tips come from once we reach a point of no more new coins generated???

  92. Wesley McNasty

    I can get Nasty wit-wit wit it for some bitcoins

    1ZXCRPK3u7aTqK5sYa2w8NmnzZ9BeeVNK

  93. Smith5000123

    1 year later

  94. R S Singh

    how to start earning..

  95. Cavelle Nelson

    Excellent explanation, help a newbie like me understand quite a lot. Thanks

  96. Liberated Living

    best simple explanation I have seen

  97. Hassan Shaikh

    buy btc on binance:

  98. flavioscorpions

    Buy xvg today or cry in the future

  99. Damon Teddlie

    My wife and I learned all about cryptocurrency through the Crypto Institute. The best decision we ever made was to invest in Bitcoin. This is where we got all our information. Unfortunately Google and YouTube don’t tell you everything you need to know.

  100. Arpit Pathak

    i think elon musk is behind it . that guy is genius !

  101. BJ Ocasu

    I love his voice!!!

  102. zintosion

    I still dont really understand it….maybe i’m just too stupid.

  103. The83rdTrombonist

    As long as there is a black market, BitCoin will be valuable.

    1. Stewiehleba

      Is that a good or a bad thing?

  104. SANTOSH KUMAR Yadav

    very convenient to deal with crypto currency

  105. Mohammad Rahanjamian

    Today Thursday, December 28, 2017 Bitcoin is actually 13,878.15 US Dollar

  106. Jessica Brown

    THANK YOU. Finally, I understand

  107. shiva vig

    OMG i just got my mind blown!! Have you heard of mining BTC or any crypto currencies?Mining crypto currencies can be extremely profitable for professionals or beginners. The market is new, highly fragmented with huge spreads. Been making huge profits using Logans miner. Contact him if interested via loganshippy93 @ gmail.com

    1. Young investor

      I just started investing, excited to see what happens

    2. Mcnairy baran

      This is by far the best Cryptocurrencies investment Awesome!

    3. Jason Mike

      he is the man for the job

    4. Broyka

      i make about $3000 every week from his software…its really mind blowing.

    5. superstar

      Sounds good, just invested $8,500 with his software…

  108. Joe Lochert

    if anyone is feeling generous and would like to help , Im very new to trading. Would love a btc donation/message to help me get started. Maybe crypto eventually would help me fund my college tuition hahah 16VZQ1vawaHwhPe2tqCZwHwh3a4UgK6Xys

  109. maxima scott

    some people are new to bitcoin,they dont know how it came about or how to earn it but its all okay i was like you before i met Mr Chris on youtube helping people earn btc and also understand the whole system reach him today if you are ready to invest on BTC (chrisdunnstrategy @gmail .com) i make at 0.05BTC every 48hours i know its not big but its somthing

    1. TECHNICAL SUMBADI- TECHNICAL ENTERTAINMENT & MUSIX

      does he take american students too?

    2. TRUSTED SPOTS

      can i start with as low as $1000?

    3. Gonzalez daniel

      can i trade every week???

    4. johnson lucas

      Mr chris makes me $9,000 every month based on our agreement

    5. Project Life Mastery

      He is a professional at what he does

  110. WorldTravelerMan

    How to make money in Bitcoin without buying Bitcoin? A must watch! Check out my home page video and feel free to join the discussion.

  111. sean chestnut

    What In exchange are you sending a bitcoin when you make a transaction with a person who you don’t know besides them send a an account number thru the block chain ??? Dude if you can’t explain this to a ten year old or groups of kids you just blowing hot wire

  112. Steve Orleans

    This will have a place in History as the world’s biggest scam ever

  113. Mccarty Duffy

    i am not just buying crypto currencies i am trading on it and making money so , even if bitcoin or any other coin is falling or going down i am am making money both ways, this is the life am talking of, today i made crazy money over 20000 just today. Right now the market is on fire and its crazy cant wait for the next hour to make more. if you want to know how to trade it pin the points just reach me and i will tell what to do duffymccarty@gmail.com

  114. Lucas Moura

    Cryptocurrency has made me a millionaire and opened my eyes to a easier way to be a success in the world of trade.. If i can make it anyone can, email is lucasmouraja@gmail.com i will guide you if you need any assistance.. Happy trading!

  115. Faris Shah

    I would invest but it’s way too expensive now just to purchase 1 Bitcoin and i’m broke.

  116. Richard Teh

    The biggest scam on earth bitcoin has no value try selling it and you won’t see a single dollar

  117. Jason Smith

    It took me years to understand bitcoin and the benefit of blockchain….Most of my comments used to look like the ones below. Best wishes everyone! Cheers!

  118. Star Life

    Guys,my father created a bitcoin wallet but he and i don’t know how to buy bitcoins.can anyone send me?i can send you money through paypal

    1. Star Life

      Samuel Bolt yes i do

    2. Samuel Bolt

      Star Life compliments of the season., do you want to buy bitcoin??

  119. Donna Hello

    can some one tell me who gets my money when I buy bitcoin ? And a 10 dollar bill turns into a thousand in 5 or 10 years !

    1. Samuel Bolt

      Donna Hello the platform you buy from gets the money and gives you the bitcoin

  120. ryanblue7s

    The cryptocurrency market has been growing at an exponential pace, and making a number of people very rich. But is it all about making money? The technology, underlying cryptocurrencies – called Blockchain technology – has the potential to change our lives for the better. What does the crypto world have in store for you? Here are reasons why you should get on board and invest in cryptocurrencies.

    * Returns You Could Never Have Imagined
    Let us just compare Bitcoin’s rate of return with that of S&P 500 stocks, which isthe leading indicator of the performance of U.S. equities from the year 2016.
    I wish I can say that we’re dreaming. But we’re not. Say you invested $10,000 inearly 2016 in U.S. stocks, by now your total investment value would be around $12,000. But if you invested in Bitcoin, you would be worth a whopping $60,000.
    Let’s choose another prominent coin: Ethereum.
    This is even crazier. And this is from the start of this year. If you’d invested in Ethereum, your investment would have increased by a multiple of 46. If you had invested $10,000, you would have $470,000 in a span of 6 months. Think about it. These kinds of returns are impossible to acquire within the realm of traditional investments. (For Beginner’s Guide to ICO Investing: How to Participate in ICOs ,E-mail ==>>( kat.icoguide@gmail.com). I made an investment on bitcoin and Ethereum. And I’ve collected bigger gains here than in anything else in my life. I’ve personally made over 800% in one digital currency more than 1,128% in a second and over 2,200% in another, and I expect to make a whole lot more. Digital currencies are the one place in the markets where you can start with $10 and turn that into real money faster than you can ever imagine.

    ** Cryptocurrencies Aren’t Just Bitcoin & Ethereum!
    I’ve also identified a handful of cryptos that are rocketing higher (and faster) than Bitcoin ever did. Cryptocurrencies are too big of a market already. And they’ve become too useful to the emerging 21st-century economy. Most investors have seen gains of……. 75,063% in Cryptonite, 59,577% in InfluxCoin, 60,450% in MaxCoin, and even 823,750% in DubaiCoin! Tiny new digital currencies are offering profits far bigger than bitcoin and much more quickly. Bitcoin and Ethereum may be the biggest coins now, but there are hundreds of coins which can achieve similar, or even better rates of return. Each coin has a specific purpose or solves a particular issue.

    Bitcoin and Ethereum aren’t the real stories anymore. It’s the smaller, lesser known NEW digital currencies that are rewarding investors with the next round of huge wins, Yet this opportunity is just getting started. Today I’ll show you the new digital currencies that can turn as little as $10 to over $$$$$$$, that’s right… a single crisp of $10 bill could make you a millionaire. It’s not only possible… it’s actually happening right now. You can request for more details on the different coins here. (Coins, Tokens & Altcoins: What’s the Difference? E-mail==>> (katietelemarketing@gmail.com).

    *** “In a tweet over the weekend, Assange posted a screenshot of Bitcoin prices on July 18, 2010, and Oct. 14, 2017, on industry website CoinDesk. In this period, the price of Bitcoin went from 6 cents to around $5,814. This represents a 9,689,900% increase.”
    — CNBC

    **** WikiLeaks founder Julian Assange is purported to have made upward of 50,000% on Bitcoin.

    ***** Bitcoin is hyperbolic again. The premier cryptocurrency just cracked the $15,000 price level and other cryptos are following up, this is an opportunity for you to invest now. As I shared yesterday, we shouldn’t expect it to stop anytime soon, either. I’m projecting that $19,000 is nothing more than a speed bump on the way to $30,000 before mid-2018, I hope by now you realize that we’re witnessing the biggest financial storyline of our lifetime.

    However, a word of caution: Make sure sufficient due diligence is undertaken before investing, E-mail me to learn how you can start trading on these surging currencies. E-mail ==>> ( ryanblue.crypto9500@gmail.com).

  121. FRIENDS MAKING

    Buy bit coins

  122. Mick-Eric Boettge

    i still dont get the security system. private key? public key? what exactly are those and how can i be sure my private key cant be stolen? can someone explain please? 🙂

    1. Dennis Geise

      Mick-Eric Boettge don’t use Bitcoins.

  123. Garrit

    Hi guys,

    Fantastic video ! I start a mining farm in France it’s open on Patreon feel free to have a look and contact me for suggestion

    Cheers !

    Long life to crypto currencies :p

  124. Tyler Wedel

    Watching this on December 26, 2017 at 10:37pm. Bitcoin is currently worth 16,251 USD. Crazy…

  125. Sweet Beats

    Bitcoin will hit ~$50k 2018-2019 year. You don’t need to buy a full 1 BTC to get started. They are around $16K USD at the moment. You can buy a small fraction. Generate your own offline paper wallet and store in a secure place. I used . Then go onto a good crypto currency exchange and buy some. Make sure to store offline – Either USB or Print out.

  126. Share Crypto

    One of the best videos that explains bitcoin/blockchain in easy terms. If you’re ready to invest in cryptocurrency, this is a website that gives you referral code for Coinbase! Safe and Easy.

  127. Livar Glesne

    What a freaking genious who created this

  128. Belicose777

    1 year later bitcoin is valued around 10k with drops of 6-8 k and spikes of 12-14k per coin. Lol

  129. Bryan Hikes

    I honestly thought crypto currency was from the meaning of cryptozoology where people believe in it but it’s not actually real.

  130. Zafar Ali

    A good opportunity to invest in one life one coin future of crptocrruncey don’t miss the opportunity with one coin one life

  131. shasashu

    Thanks for the great video.

  132. vallejo

    Can someone please donate me a Bitcoin?

    Bitcoin address: 1B53xzzmuHjeXTcoXyUCCDGNMin7HqQZZU

  133. Cyan The HyprPsychic

    “super legal movies and music”
    Goddammit you found me out.

  134. bat stud

    Start cloud mining save upto 100%. Of u time and electricity use code EVm4pH to get additional 3% discount on first purchase on genesis mining guaranteed returns link -httpsw.genesis-mining.com/affiliate-program

  135. Tauheed

    $DBIX Dubaicoin Arabianchain Technology is moving all Sharjah Government & Dubai’s government paperwork onto the #blockchain saving 25.1 million man hours, or $1.5 billion per year. Over 100 million documents each year, to be transacted digitally using blockchain

  136. noah zimmerman

    Try this great bitcoin lending platform! It averages about one percent return a day sign up today!

  137. Successful Trading

    watch this video if u wanna buy bitcoin or exchange it or keep it .

    its best easy and safer wallet.

  138. Miro Vujanovic

    Coinbase Free Bitcoin Wallet:

  139. Chad Mays

    Who’s watching when bitcoin is at 18,000

  140. Kamron Thurmond

    Bitcoin is now worth $13,877.40 as of 12/24/2017 10:38pm 10:40pm now worth $13,905.67

  141. Weslin Camden

    But wait. If miners stop pursuing this as the Bitcoin rewards drop and their electricity bills skyrocket, and Bitcoin needs miners to solve chains to make transactions, isn’t it likely to collapse on itself? I get that if the perceived value of bitcoins keeps raising, then the small amount of bitcoins earned is still worth more, but if it isn’t, the whole system could crash?

    1. SAL

      Actually, the miner reward will transition from newly generated coins to transaction fees, so miners will still be paid plenty.

  142. Robert Almeida

    Bitcoin is a big middle finger to the federal reserve/government….something about that sentence that makes me feel good.

  143. Alberto Sánchez

    My brain hurts

  144. Daniel Baban

    Cloud mining is still profitable! You guys should check out
    Instead of buying all the equipment, you just buy has power. I recommend to check out to see how long itll take to break even and what your daily payouts would be before actually buying hash power. If youd rather just buy, bitcoin is the place to go!

  145. What are you gonna do, ban me?

    8:01 And here we are only a year later…

  146. 5rmorehouse

    Why did the cheater at the poker game have to be a CGP Grey fan? Lol

  147. Robert Oortwijn

    What happens after the last Bitcoin gets rewarded in 2140? Will that mean that the value won’t go up anymore because nobody is able to get any more bitcoins? Hope someone can answer my question 🙂

    1. SAL

      miners will still continue to mine because they would still get paid from transaction fees – basically, if people continue to want to use it, then it will keep working.

  148. hooded one

    Who invented the bitcoin?

  149. Dave Bremers

    Great video, very clear except for the last part about the hash. Keep it up.

  150. Promodit Adhikary

    Hindi version. English version is also available. Block chain, Bitcoin, many more crypto currency in details with market analysis. Must watch video.

  151. Top Posts

    Very Nicely Explained. Thanks for sharing. http://www.mytopposts.com

  152. Martin Machava

    That’s a really great explanation!

  153. Hansen A

    The most indepth video about bitcoin

  154. Fazulul Rahman

    One of the best explanations about Bitcoins.

    Must watch for anyone who wants to have an in-depth understanding of how Bitcoins, Blockchain Technology, Mining works.

  155. fidel catsro

    bitcoin=fake money!

  156. Frank Heck

    You did a great job explaining it but I still believe this smells like a scam. Like anything on wallstreet, a lot of folks will become really rich and a lot of folks will lose it all.. after every financial crises, some new bubble always come, people never learn and greed always drive these things to the breaking point

  157. is it kuanlin or guanlin ????????

    welp

  158. Noyz Gaming

    Note to self, get Bitcoin when its price swings back down.

  159. Mike Hunt

    Wish i brought some when this video came out lool. Worth close to 20k for 1 now

  160. Doge5899

    1 bitcoin is worth over $15000 now.

  161. Question MK-Question

    Who else is honest enough to admit that this Bitcoin thing is actually more diverse and complex than initially thought? Either way it’s an still interesting idea. It might take time time to fully grasp and eventually understand the concept but it’s not impossible. Just my opinion.

  162. H J

    Hi everyone, I am giving free 1 BTC to one of you. All you need to do is, sign up to bitconnect using my referral address: ( )
    I promise its not a scam, I had an idea to benefit everyone and my idea is, if you join through me and use my referral then we will both get a bonus so the more people join bitconnect through me, the more free Bitcoin Giveaway will be.
    Honestly, its not a scam and I am happy to answer any question you have. You can either message me on my channel here, or you can message me on line app —– line ID: 15kesh15

    And after you sign up and deposit 50 dollars ( at least ) in your bitconnect, send me a message on my channel or on line app. So, your name will enter the free draw of 1 BTC that will be on 21st of march 2018 ( 21/03/2018). I put this day so more people will join and benefit from this. And you all know when you deposit money in bitconnect, you are the only one who can use the account and no one else.

    If someone wondering why I am doing this ?

    its because, no one have done this before to help people that looking to make quick money through cryptocurrency. All what I’ve seen is that, youtubers ask people to sign up to bitconnect through their referral address and that’s it !. So, I thought If I do what I am doing now, then a lot of people will have the chance to win and make a life changing money in no time as we all know the quick growth of bitcoin price.

    If you have any question, please don’t hesitate to contact me through this channel or through line app.

    Thank you and good luck !

  163. NerphetS EE

    AIRDROP ALERT! Receive FREE EtherBTC! I just registered for the EtherBTC 2018 Airdrop and you can, too! Go to today!

  164. Qays Arthur

    Thank you SciShow! I have actually grasped the concept after having had only a very vague idea of what bitcoin was.

  165. MildManneredMercifulMouse

    But what do you buy with it ? Has anyone ever bought a real thing with a bit coin ?

    1. M Frusciante

      Yep. Google “10,000 Bitcoin Pizza”

  166. Poor Poor

    The title “Mining” is much more impressive than data entry. It is just people entering data on an encrypted database. The so-called “miners” then sell this computer record for real dollars and can vanish with the real dollars, whilst people are left holding on to computer records in their name. The Bitcoin does not represent any productive work like real dollars do and is just a computer record out of thin air.
    Reply

  167. we done goofed

    BITCOIN WORTH HUNDREDS HAHAHAHAHAHAHAHA I LAUGH IN YOUR FACE

  168. Claud Ka Kei Yeung

    Can’t focus when he’s too good looking

  169. My Naga Coins

    Hey guys, If you would like to know more about bitcoin and cryptocurrencies checkout this FREE course.

  170. Dieter Schänzer

    not exactly beginner friendly or am i stupid?

  171. Татьяна Бойко

    Earn free bitcoin for watching add or buy add watches for satoshi:

  172. DD7 Games

    At 2:32 Is that an CPG Gray T-shirt

  173. tytlies

    well-produced and clearly explained. thanks.

  174. Manish Amberkar

    Set the speed x.75 times slower to process the information..Glad I did..good video.

  175. Semper Phoenix

    Great explanation

  176. Kisana _

    That was a very good explanation (Y)

  177. Emma Olivas

    Great video…I finally understand this!

  178. Paperface Chance

    Is bitcoin worth investing into? A year after thus video and a bitcoin is worth almost 20,000 usd lol

    1. M Frusciante

      Take advantage man, this whole market is a once in a lifetime opportunity and will likely multiply tremendously in the coming years. Put in a 20 here a 20 there, over the months it’ll add up. And remember Bitcoin isn’t the only player..

  179. VoidedTea

    If bitcoin keeps rising in price, and I am not using term value deliberately because it has no value, then how it can be used by the stores to set their prices in bitcoin? If I want to by a cup of coffee with my bitcoin, what would the price tag for that coffee look like? And who will be verifying transactions after the last bitcoin is mined? How come there is only a small number of centralized miners that control the entire ledger right now, most of them are in China and Russia. Can we completely trust them? Who do I call if my bitcoin is stolen? These are just a fraction of questions that you don’t have the answer for, showing that bitcoin is noting but an internet game designed to sell digital serial numbers from a public digital ledger for money. Blockchain might have its place in our future, like the Internet. But similar to Internet, it will be made available to everyone for free, and that is the only way it will be able to survive.

  180. QueenCoCoaMocha

    For some reason I was distracted with this video. First, I wanted to fix the guys sweat jacket. Then, i could help but to notice the camera crew during the “poker game” in the players shades. I have to slow the video down to grasp the info. It was too much for me I guess.

  181. Crypto Portal

    Get $10 of Bitcoin → bit.ly/freebtcoffer ←

  182. jules winfield

    when this video got published 1bitcoin=807usd. one year later and 1bitcoin=14,300usd. i think its about that time to invest in some of these cryptocurrencies lol

    1. nbcommie

      I think a year ago was the time to invest in cryptocurrencies and now’s the time to get out before the bubble pops

    2. jules winfield

      ya lost me..please explain lol

    3. Devo L.

      or may be this means the U.S. $$ is just getting weaker and weaker and this is one way to hide it.

  183. SouthernNYer

    When it began in 2009, you could have bought 1 bitcoin for $13… and 1 year after this video was made, 1 bitcoin is worth $17,000..

    1. cActUsjUiCe

      It is not worth anything to me. It was created out of nothing

    2. OD786 Dro

      60cm Hengst Nobody want to buy a currency that isn’t accepted as a form of payment. That’s like buying an overpriced rock.

    3. 60cm Hengst

      What are you talking about? Their are exchanges who people who want to buy and sell bitcoins are brought together.

    4. Star Life

      i wanna buy bitcoins

    5. OD786 Dro

      SouthernNYer And if you want to pull out that 17000 guess who’s gonna fund that money. NO ONE

  184. anupkumarrao

    Seriously? People playing with this ? I am going to watch this ….

  185. Samsul Hoque

    Idk it kinda sounds like magical money to me. 🤔

    1. Frank Heck

      yeah, almost like using your ink jet printer and print money, keep a ledger and you will be fine.

  186. TrashPot

    Invest in Bitclave ICO while you can, either that PowerLedger or Sub.

  187. Robert Mitchell

    December 2017
    bitcoin got 2 to 5 years before a huge crash
    tulip bubble

  188. Craig Williams

    Want to learn how I made over 100k in less than a year? view the link below and join the start of a new life!

  189. Philo Jewett

    12.5 bitcoins are currently worth $200,000 USD 🙂

  190. MyWhatsappVideos

    Now bitcoin currency value is too high. If you want to invest small amount from 200$. I have a opportunity. Whatsapp me at +923452353763

  191. Q Johnson

    Exactly one year ago. (Today is 12/21/17)

  192. MARS KUNDAN PARIYAR

    COOOOOOOOL

  193. Mohd Sukor Mohd Razaly

    20/12/2017

    ripple …now going pump rate to the mooonnnn

    wowwwwww

  194. Rok Bukovšek

    If you may have some btc for donate to help the poor guy you can do it. 3QEsBYWdEaZ4TfeWhQcsNDaoptvuCKPk98
    tnx

  195. YeahWeRepTheSameSmartech

    Cyrptocurrency is another form of Fiat Currency. You want to know more and watch something related to this video thats just as informative and interesting go watch The Secrets of Money – season 1 episode 1. Its on youtube.

  196. thriller 2910

    oh wow, I’m watching this episode exactly a year after it was made, when bitcoin now costs £13,000

  197. Gargi Akolkar

    Excellent explanation. However I am still not clear about the block chain aspect where miners guess the original SHA256 to get the transaction eligible for execution. Could you plz explain. I will definitely go through the video again.😊

  198. Palani Raj

    Free Dash coin satoshi every 5mini ( per day can get 5000 satoshi free) 🙂

  199. CfomodzGaming

    Or you can just cloud mine BTC with Geneses or Hashflare and turn USD into BTC without making a large initial investment – then you can just hold it in your account, reinvest, or pull to a hardware if you really feel insecure.

  200. aryan shetty

    bitcoin is the complicated version of a simple transaction but there are certain advantages and disadvantages to the user

  201. Mtn Flyer

    Thank you, thank you, thank you. As the only one in my social circle that trades CC and has a decent understanding of the underlying tech, I’m constantly getting asked to explain it. From now on I’m just going to send them a link to this video! You’re awesome.

  202. Disputinho Máddoux

    wtf got a bitcoin ad

  203. Harley Tutor

    bitcoin vs fiat. at the end of the day, bit coin might be worth investing in… however if something happens and all computing systems go down, there is going to be a big problem for bitcoin and fiat currency is still the better choice.

  204. TheHelleri

    I get how it works now. Still don’t get why that’s worthy. Because of rarity? Rarity is only one consideration for establishing worth. Being of material quality and diverse in possible uses are other equally important measures (alongside things like near universal baser instinct desirability). I can still wipe my ass with a dollar bill if everything goes under tomorrow. considering it’s made of linen and cotton I could even bleach it and use it as note paper, patches for clothing, filters, or bandages. Heck even just as is, if rolled tight enough it would make a decent smolder stick, or if shredded good fire starter. Coin metal can be useful as well. You can make wet pile batteries with coins. Improvised small blades and tools as well. Even just as alloys which you know the exact composition of they are useful in recycling for new products.

    With actual money you have the faith in a governments ability to make good on it’s value (at least in theory) as well. And deeply ingrained dependency. With the US dollar for instance it’s the world reserve for a good chunk of the world (the currency that backs other currencies). And plenty of currencies are pegged directly to it. So it’s in everyone’s best interest to uphold it’s value as much as possible for as long as possible.

    But cryptocrrency usefulness goes out the window when the lights go out. I mean perhaps in a fully technologically adapted world where there is near 0% chance of catastrophic and global failure this might work long term. But power outs are a regular thing in a lot of places. And remember we still are not any where near prepared globally for a big solar flare (which we cannot predict with any where near enough accuracy to be safe from the trillions of dollars of damage to infrastructure one would do).

    15 years ago I wouldn’t have been able to conceive of an objectively worse type of currency than fiat currency. But someone actually found a way. That’s impressive. I mean hell make money at it if you can while you can. More power to you on that. But don’t let yourself become deluded regarding the stability of such a system and do something as asinine as investing the entirety of your financial future in it. Not saying cryptography isn’t useful or that this isn’t an interesting idea (perhaps it could be used as a regulatory device for the issuance of actual money on a larger scale). It just has no inherit worth. Which makes it extremely volatile.

    1. TheHelleri

      Reaching global accessibility is not something that fixing its inherit shortcomings alone achieves. One would have to go beyond that and bring about global adoption in broadband. Which is at least 100’s of millions in new infrastructure in places with little demand for it alone.

      On top of that the value of cryptocurrencies are artificially inflated by the act of obtaining them. In order to get all the coins you have to have the biggest best and most expensive setup to increase your odds of getting to a solution first. Which means you can sell them for less than a certain amount. After the initial sale of a newly validated coin there is nothing propping up the value of it anymore. So what you’re going to get is an initial boom. One that favors those who have the most to spend on it to begin with. Once the dust has settled on that it’s going to crash.

      Either big corporations will get in on it and reduce initial cost by applying machine learning. Or the little guys will keep chipping away at it until they hit the upper limit and it all comes crashing down on top of them. But have big corporations gotten in on this game (honest question)? If not it’s probably because they realize it’s not worth dumping a lot into given it could fall at any time. An if so they will soon corner the market on it. Either way it erodes the core. Lack of big interest helps destroy what it’s meant to be and so does big interest. It’s a no win.

    2. F. Exprt

      You don’t get the whole picture. 100’s of Billion tax dollars stolen by banks and unable to be tracked during the past recession and nobody paid the price. 2.9 TRILLION WAS MISSING BEFORE THE THIRD PLANE ON 9/11 hit the account office of the Pentagon and they can’t trace it. Money became worthless during every major war. Inflation gradually lowers any currencies value, interest rates, fees etc etc etc. Main point is that each centralized body like the USA controls, manipulates, cheats, and social security funds might not exist when I get old. ALL of that is whipped out with an idea like bitcoin. Cheating not possible, value will eventually stabilize IF IT REACHES THE POINT TO BE USED all over the world. However taking the billions of fees away from banks, accounts, and control of governments and basically the rich getting richer etc etc might create big world enemies to bitcoin and that is the only concern. For now it will not go anywhere. We are already in a bitcoin world. Many countries use actual money less than 10% today. It is just numbers in your account but the only difference is that a bank/country or countries oversee it and manipulate it. So the only difference to bitcoin is that you take away the power banks/countries have to all of a sudden make your money disappear like when during last recession millions of people lost most of their pensions and bubbles that can create things like the Great Depression are no longer a risk. But rich people and people/organizations in power keep pushing the money manipulation and would hate to lose that power. Get it. ?

    3. TheHelleri

      While you can’t send a piece of gold to someone instantly. You can send them money. And you can do it faster than the transaction speed of bitcoin. The idea is flawed not only for a bitcoin having no inherit value. But because it’s too slow. That slow transaction speed (about 1 per second vs. 1000 per second) is an intrinsic quality that can’t really be changed. Even if it gets a lot faster so will normal transactions at the same or greater pace. So it will always be lagging far behind what is an acceptable rate of transfer. Even if you can get past that problem there is still the issue of mass availability. Which isn’t down to popularity as much as it is lack of infrastructure in many areas of the world. Areas of the world that can still accept wire transfers (which as the most basic and low rent way of sending money digitally is still faster than bitcoin).

      Even if it manages to move beyond all it’s major deficits (any one of which is a deal breaker for most of the world). Eventually will come regulation if it sticks around long enough. That and major corporations taking interest in it will raise the bar for entry so high that this decentralized currency will then become privatized currency. If big corporations get on it (given that anyone with the seed money can technically get in on it). they won’t even waste time on employees to mine it. They will toss that task over to machine learning. Bots will get good enough at logging fast enough that it will cut the human element out of it entirely.

    4. Atdhe Shala

      Bitcoin’s ‘value’ comes from the fact that you can easily store ‘value’ in it. Maybe not right now because of how volatile it is, but you can’t fake BTC, or print BTC federal reserve style. And there’s only ever going to be around 21m total.

      And Bitcoin’s other killer-attribute is that you can send it to anyone in the world via a computer just like that. Can you send a piece of gold to someone from Europe to Australia in a matter of seconds? I don’t think so.

      Bitcoin is plagued by a lot of problems right now, and I can’t really say what its future holds personally, but the idea of the Blockchian and Cryptocurrencies in general is here to stay.

    5. TheHelleri

      If a million people have a stupid idea. It’s still a stupid idea.

  205. Kevin R

    totally impressed….now I understand better…sort of !!!! great video and presenter

  206. Miller Rosas

    Liked and subscribed
    This guy is legit. Keep it up

  207. Travis Collins

    great video man. I came back to this just to give a thumbs up and thank you. I remember watching like 12 videos before this one and still having no idea how it worked until this one. So yeah, thanks dude

  208. Sebastian Drozd

    the blockchain/poker explanation is spot on. !

  209. NARCOHAMPON TV EL BRUTO [R]

    am working on a new worldwide currency he will come out soon and if becomes a hit am going to called Beatkoin

  210. Sujit Subhash

    Can I ask how you animate your videos? Hope someone can tell me how to do this

  211. AirIUnderwater

    Is investing a good idea in 2016? Gee…

    1. Neon Wombat

      ah geez hindsight is 20-20 ey haha

  212. oopsy444

    It’s a bubble it’s going to pop. Then maybe it’ll fix itself.

  213. GenericMA

    > currently worth hundreds of dollars
    *checks bitcoin price*

    Yeah, about that.

  214. Rayyan Altaf

    I’m watching this almost exactly a YEAR after it is made. Nice vid!

    1. wittyexquisite

      Rayyan Altaf same here

    2. Bo0m - CS:GO & More!

      Rayyan Altaf when its worth around 11k

  215. SkrillaKing

    Very well explained… Great work..

  216. Victor Salazar

    I got lost halfway thru the video.

  217. Foday Church

    Lmao there’s TOO many ways the system could be manipulated. I’ll stick with my Paper money thnx

  218. Ciel Ian Arsua

    JOIN BITCONNECT (CLICK LINK create account)

  219. Zendefone1

    People are naive saying that the government will eventually have to cave in to the rise of cryptocurrencies, but in reality, it’s the other way around. The government cannot tax and regulate crypto transactions and this pose serious economic and compliance issues. The government has the ultimate control and final say. Once big daddy disallow cryptocurrency transactions of its businesses due to regulatory issues then basically you can’t use them for all physical goods / services (property / cars / import & export of goods etc. almost everything) between and within the borders are all within government control. So basically, if you can’t use virtual currency for physical goods and services, that limits to only the “virtual world”. So may I ask what value a currency has if its limited to only the virtual realm? Once people wake up to this reality we will then see the real value of bitcoin reflects in its price and the bubble pops just like the dot com. It definitely has its value in the world but it’s blown way overhyped.

  220. DreamCatcherX

    “… worth hundreds of US Dollars…”

    Fastforward 12 months

    “…worth tens of thousands of dollars…”

  221. uyiiko

    i would spend my college fund on beef jerky smh shut up i’m still a ten year old let me do what i want

  222. staytrue2ju

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  223. Bader Abdullah

    “fake news” Donald Trump 😂😂 say you have a world of digital currecy tell me how we are going to live free ☺️

  224. Millerboy

    *hundreds of dollars*

  225. Lexy Starwatcher

    Yeah, I do think they are doomed, sooner or later the pay out for mining will be so low that no one is going to want to do it. Unless you are the Chinese government at which point you might as well no longer call it decentralized.

    1. SAL

      All depends on the usecase. Cash is still king for in person payments, but when we talk global/international payments or payments in countries where the banking system is corrupt to the bone, then bitcoin is the better option.

    2. Lexy Starwatcher

      That sounds even worse, it discourages people from using it. Why would I use it if there is a built in transaction fee when I can just give the person cash?

    3. SAL

      actually, the miner reward will transition from newly generated coins to transaction fees, so miners will still be paid plenty.

  226. DesertNight

    2017. It was a good idea to invest….

  227. Likith Reddy

    worth every minute spent watching this video. very informative!!

  228. GreenRico Gaming

    was that C.G.P Grey at 2:12

  229. Captain Obvious

    Who else is watching this while crying?

  230. Austin Louis

    20 grand now

  231. manzilkumar mandal

    That’s complicated

  232. Francisco Valencia

    Great explanation, but i think there is a answer missing to the question: How do i get bitcoins to start with?

    1. M Frusciante

      Maybe you’ve found out by now, but Coinbase is currently the most popular option.

  233. hanqie11

    Just found this great project for beginner investors, hope they will launch it soon. It should give you hints and warnings when to buy and sell. And professional investors will share their strategies for a small fee, check it out: what do you think about it?

  234. Hi all and lets talk

    lol no crytocurrency…f.o..

  235. Hi all and lets talk

    ..what if the world asides from cryptocountries says no to cryptocurrency?

    1. Hi all and lets talk

      ..rather no internet than giving up dignity, tradition, the way of life we so used to that is gold compare to.. what??..promise? ..an elite financial corporation DICTATING on WORLD’s financial outcome? ya must be crazy to accept it.

      Bahh…just close the internet if u guys so great…, no internet humans wont die..with cryptocurrency..humanity at peril maybe u die during those struggles..god bless us all.

    2. Woke Watch

      that would be like trying to remove the internet.

  236. sachin bhoi

    Amazing, I mined btc but never understood what my lappy is doing.
    It’s so overwhelming to understand so many things at once but best explanation so far

  237. Dali Garwinder Lama

    Fantastic job explaining it, although towards the end you rush things out of order. But the best explanation so far!

  238. Dallin Weir

    Look art all these people that should have invested

  239. Crypto Roundup

    Free bitcoin from playing this app. All you do is spin a wheel.

  240. Ben Sama

    Little did they know it would ballon too $20000 a coin

    1. Woke Watch

      little do we know that it will balloon to 500,000 a coin.

  241. Imro Sedo

    This guy should do something better than YouTube

  242. Dark-Lark

    WHY?! Why didn’t I get into this back then?!

    1. David st. clair

      this really worked for me

    2. Davood Kheiri

      Dark-Lark oh

    3. Audrey

      Dark-Lark Yeah you’d need luck and the guts to do that. It’s like gambling, really; it’s not for the faint-hearted. I think it would bubble and crash dramatically.

    4. Dark-Lark

      Audrey
      But if someone had put one thousand in when it was $13 they would have over a million dollars if they sold it at 15k. Now that would be really lucky, but it’s better then buying lottery tickets.

    5. Audrey

      Because it’s sketchy

  243. Marcus Josephus

    So far the BEST intro to BitCoin I have seen yet. THX!

  244. Kye Talks

    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.

    1. King Rubi

      The ignorance of people here is high, there are major crypto currencies exchanges out here, u can sell all your mined or bought crypto on these exchanges , just google. Its better to hold them tho soon people will start accepting them as payments as more people adopt this new currency. It’s like investing don’t go in for quick profit. In the end all money we have USD, Euro, whatever doesn’t have value either unless people accept it has value. For bitcoin with nearly 250 billion+ market cap people have pretty much accepted its value.

    2. Andrew Tan

      You can’t cash it out

    3. OD786 Dro

      Kye Talks LMAO, that’s not how this works. You can’t just pull it out because no one can fund that. It’s not a company, it’s a number on a computer screen. Its not backed by the US Dollar or EURO. You’ll be pulling out nothing. Wake up from this bitcoin BS.

  245. IronChefItaly

    Brilliant explanation.

  246. Nico Onisch

    Great video! Maybe you also do a video about cloud mining? Hashflare is one of the most lucrative cloud mining providers for bitcoins. After a good 2 months, you already have your money back (ROI) and then makes the remaining 10 months only profit (more than 400% return). Here you can register immediately with 3% bonus:

  247. Shly Hoit

    It was 708 USD back then. Now it’s 19000+

    1. Shly Hoit

      High volatility opens up a big door for short term trading. Make no mistake people are getting rich off it.

    2. Trickstar

      Shly Hoit The bitcoin value dropped to $14000 in only a few days. Damn the value fluctuates just in a blink of an eye.

    3. justin Kassel

      Evm100 hahaha shits going off the deep end

    4. Evm100

      Shly Hoit not so fast!

  248. muhammad budruzzaman

    thanks

  249. Bill Addison

    That was some AA level explanation right there Josh, great job!

  250. Daniel Bieman

    1 Bitcoin = 23,914 Canadian Dollars….

  251. Jon Ryan

    “currently worth hundreds of dollars”

  252. mrigendra kumar prajapati

    Is that real cgp Gray?????

  253. Lemuel Cang

    2000 chips made me laugh. nice

  254. Gunjaish

    Hit Like👍 if you came here after UIC .. 💝

  255. PARTY MUSIC ON ROIDS

    *IT’S NOT WORTH HUNDREDS OF US DOLLARS – BUT AROUND $25,000 EACH AS OF 18 DECEMBER 2017!!!!!*

    1. Stewiehleba

      And as of yesterday 14000

  256. MUSIC AND V-CLIP

    You you can get $3000 by this website

  257. Donald Pump2020

    This is complete BS lol what’s the point of this?

    1. SAL

      a global system for transactions that doesn’t rely on any banks – it’s a pretty big deal (unless you are a banker, then it is bad news for you).

  258. tirips etihw

    miners solve SHA256, they get rewarded . how does the anyone benefit from solved SHA256, isn’t it just a cryptographed global ledger?

    1. tirips etihw

      thank you

    2. SAL

      tirips etihw The goal of bitcoin has always been to remove the need for trusted third parties having control over money (banks). To see why it might be a good idea to do so, look at the currency/banking problems in Venezuela and many African countries.

    3. tirips etihw

      is that problem so big in the conventional banking system? it looks like a big waste of energy and resources on keeping money safe.

    4. SAL

      the mining solves the double spend problem.

  259. Lance Clemings

    Hundreds of US dollars? lul, so last year. 😛
    try 9k now.
    Edit: checked to make sure I was correct. WTF, when did it turn 18k! It was 9k last month I sware!

  260. TherealCandySparrow

    My brain hurts

  261. The Perfect Touch Inc.

    This will be the new currency just give it some time.

  262. Kennan JK

    More like worth 17 thousand

  263. Nakeya Brooks

    What if you have cameras in your car eyes and everything you do is already recorded? Your personal key is already recorded

  264. 0MoTheG

    I still do not get how the hashing solves those problems.

  265. noone isnoone

    7:55 bitcoin is worth $10k now

  266. Football Review UK

    Brilliant video! Thank you!

  267. lolegend74

    I have a feeling bitcoin is going bankrupt over the next years because people would start withdrawing the money since they wouldn’t want to keep in their “wallet” for so long

  268. lolegend74

    Lol 1 bitcoin is now $19734.74 USD as of 17/12/2017. Guess i’m gonna start investing in bitcoins 😂

  269. Mats Andersson

    Excellent explanation!

  270. Varshaa Mohan

    really interesting !

  271. EET FUK

    Bitcoin right now is at $19.4 K

  272. Krispi

    As of this moment, 1 bitcoin is worth 19,400 dollars. Yes, yes it’s worth it to invest.

  273. india online

    Nice video

  274. Magnum Clore

    Bitcoin and block chain is too confusing but thankfully your video explained to some extent.

  275. MythiKalGoatZzZ *

    7:50

    Well, nowadays a single bitcoin is worth 17 hundred dollars… it’s growing REALLY fast

  276. First Last

    Why does he sound like he’s outta breath

  277. Trevor Young

    Amazing video. Very well done.

  278. NC Styles

    In December 21, 2016 Bitcoin was worth $807. Now one Bitcoin is $19.3K

  279. KEVIN BEERE

    Well done great video to get a basic understanding of core concepts.

  280. Jason Boulle

    Thank you so much! Very well explained.

  281. Adi Panchal

    perfectly explained.

  282. Evaldas Stungis

    Intense coin (ITNS) great project started 4 month ago and has a huge potential, give it a look
    intensecoin.com

  283. Javier Lorenzana

    “Hundreds”. So cute.

  284. James Barrs

    All very clever but really… what’s the point? How does this make the world a better place?

  285. Feynstein 100

    Am I the one only who sees the fatal flaw in the system? The currency is based on the update of the ledger, which needs miners to keep getting updated. Miners are only doing it because right now, the value of bitcoin received by mining is greater than the cost of electricity needed to do the mining. But what happens when that is no longer true? Miners don’t have an incentive to mine, the ledger stops being updated and the currency becomes worthless. It’s inevitable.

    1. Frank Heck

      when people are making money, they don’t care..just like when Internet company stocks flew up with no business models, banks lending out mortgages to people who makes 50k a year yet buys 2 million dollar homes.. this stuff never ends

    2. Feynstein 100

      Ah that is possible but since bitcoin isn’t centralized, who would be responsible for paying the miners? This sounds very similar to communism and there’s a reason communism doesn’t work.

    3. Woke Watch

      proof of stake solves the problem, miners are paid for transaction fees instead of new creation of bitcoins. Transaction fees can always be adjusted, bitcoin is not a static system.

  286. Praneel Ramanan

    The whole thing went bouncer

  287. Morgan Selenius

    So now I understand what bitcoin is but I still have a few questions. How do you spend it? I can’t exactly go to the supermarket and give them bitcoin. Who decided how much they are worth and how? Why do they exist in the first place?

    1. nonya biness

      Martillo Workshop How dare You! Dorothy Mantooth is a saint!

    2. Dylan Thrills

      fees and centralization

    3. Martillo Workshop

      LN is on testnet and working. The first mainnet version is being worked on already. You’ll be seeing LN on mainnet in the first half of 2018.

      Anyway, there are a lot of expensive useless things that are way more mainstream than bitcoin. Like designer bags, diamonds, fine art and your mom.

    4. MissPronounced

      TruBlue16 it’s obviously not useless if it’s being used by millions of people. That makes it worth a fortune.

    5. Kuo Chong Yii

      TruBlue16 A lot of stores in South Korea and Japan accepts Bitcoin and a lot of websites accept Bitcoin. It’s not useless, just not mainstream yet.

  288. Joinesse Gaudin

    Only if I invested when i first watched this video 😩

  289. Mark M

    Oh wow, throwback to when 1BTC was worth only 708USD lol (prices are up to almost 18,000USD now)

  290. KursClub Finance Expert

    thank yo man

    Very good video. I am mining and trading now with Bitcoin so it is really interesting for me

  291. Crypto MIKE

    New video about the best way how to earn bitcoins is out!!! The best paying faucet-free bitcoins every hour!!! –

  292. Fry

    Three little pigs went online one day…



    And then a big bad AI came along and swallows all their bits!

  293. Stephanie Chan

    Great video! You made it so simple to understand

  294. Jonathan Blue

    1farma is a great site for mining and they give you 0.00005000 BTC for joining

  295. Parv Barot

    ok then who decrease the mining reward of bitcoin?

    1. SAL

      the whole network does, it is built into the protocol.

  296. Kage G

    Is the Bitcoin market affect by net neutrality?

  297. Manifest Elgujak

    Недавно узнал что в 2008 когда появилась система хэш цепочек Blockchain выпустили 30 тестовых адресов, которые были предназначены для больших транзакций…
    Читал что ребята там наваривали очень много денег, поскольку те адреса были одной из крупных компаний в США, теперь они перешли на сколько мне известно на другую компанию,
    и некоторые люди снова начали там деньги косить, смысл в том что когда тестировались транзакции те средства возвращались с процентами. Я сам туда кидал три биткойна и мне возвращались 3.6,
    главное попасть когда идет скачек курса вниз или вверх и мне возвращались было и по 5 и по 7, смотря на сколько большой скачек, кому интересно, вот адреса:

    12evrWnWmcQHnKZDzZbzwkWqf5fdefwL98
    1NtduaZe1KcBk5QRvNsYfr14sJhAwTyNer
    14F4hV6Dyy4rP2UUuELLPQXHWsvYtnNZxa
    13Cz896A68zDQHPn136y7DVKosaUMMFw3D
    1M5k2jRcqnc7rZTwSdpp9STfTjkUveKdVQ
    15t3i5GUQ2XPNPn8xhmsJV4vKiUW3wzYB5
    18V3UBEw3q1CP6Kgamd4YGV4F9dxa2Nuyv
    1HoqbWmuxtG9zKPzfZPWK4kXbhwXTruLzq
    1PtrMbYsmDaCrvfzhMAYhkpZyqMTeueiEp
    17j4Xp9mgGUwyR2TPoJ4ibchpmCmbfZpEz
    1CPWAjuze1w6Wwm9SVFo4w4mc97x7GYDk
    1nV6P3QtNNFCRdRkv8tAZ1q54Uoq8XdSp
    144BGXotLAZaxxsXKy13FnbPUYfxcMpPTs
    12dt4hJKweb79Ep6YMrwjtDEK5om4fQ1Lo
    1Gv5F3tRH8RT4gnvwFwTqyBbMe9tk9LvmV
    16zWR2e4VbgHqz568KzSZGfr4c6HxgFYeW
    1MHQT9MLmrb8DmkCRv3n1ZmCZ4MU6jHLH7
    1AcJkTHEEZ12vnprjDUM4FFsvY7SRaZM8z
    1BiLFh6xVMdbKkR3fnV9QPToG9EVcmJrMQ
    17fh7uevxhMj3MDJuhZQV9yx2y4bvqj6k
    1Gkb2iKQjpjGJNt4mAah2jWHrbkVWQK3bN
    14QvkvmcjKGzJstZZz91zhG1wfWAusUins
    13RurLHX4PwqxWc5YVC1Xd1U6CbJaKmYyM
    18Vb3hpAAszFrT14SC32iN2E9z6iEwDBk
    1NfmpabuKP3ZnV6oGuEWnS9xqn34QzrBDZ
    1KphjYumvAXGDTbBzGUEtcPxg3pxMWcLWr
    1ExmLhH28ZN4ZuuRCXBqoDNj2VFR5ZMHfH
    1478juav4hvnWce8pqo6h3S7MzsqbPa4DJ
    1F1bQzN4nU6eDN9mwRDTeF29TruVQoEeYN
    15aWGThreyGDuu5Y1ko4WcDgV69i1tkjB4

  298. Hampus Wallberg

    “…worth hundreds of dollars”

    That’s cute

  299. Zekeriya khalis

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  300. علي عمر

    Its not true in the coding of bitcoin currency it was put how much to produce per time, how much max supply etc its all there in the code. Try to figure out how it was made you will have better knowledge by then.

  301. Jay Vadgama

    Brilliant Video. Clear explanation. Thank You.

  302. Sam Smith

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  303. Erastothenes

    I saw this video a year ago not understanding it. I could have been a thousandaire

  304. joel manabat

    The most mysterious Crypto Project since 2014 here is the latest and the newest ICO’s check it out

    #bitcoin that can change every lives of people in the world.

  305. DENN DOOM

    Jacksfilms made a better explanation

  306. Derek Macdonald

    i wish i saw this vid last year. could of made good money

  307. ironfistman1

    its worth over $17,000 now

  308. Fragile Eugenius

    Everyone can mine easly some cryptocurrencies. Personally I use miner from this webside :

  309. Robert Wells

    Wow very good video man! Just sent this to all my peeps that ask me what is bitcoin and I tell them about blockchain and they have that glased look on their face!

  310. Doc Holiday203

    One bitcoin is $16,000 today so yea, you should invest in it!!!!

  311. Midori Vaide

    Where does the tipping bitcoin come from? Is that also generated out of thin air or does the “giver” in the transaction tip?

  312. DirectorTBL

    his voice is strangely reassuring. lol

  313. bertie Green

    I’m here from the future! Invest everything into bitcoins!

  314. TOP 10s

    had to reduce the speed to fully understand

  315. GamePlayUK

    Bitcoin is a commodity, not a currency.

  316. Trent Brew

    Does the death of net neutrality affect bitcoin

  317. Evil Duck

    So whats the practical use of those mathematical problems? Do they solve anything or can you trade them when bitcoin value plummets? Who backs the currency, when it looses value? There is noone who will back it and that’s why its useless. Today you are filthy rich, tomorrow loose everything.

  318. Tharaka Hettiarachchi

    So far the smartest explanation I came across, great job dude 😉

  319. ZFlyingVLover

    Funny how much things have changed in 1 year. BC is worth so much now

  320. kornmansony

    i just got a job as a repair person for bitmain and start at the end of January. They are in the process of building a repair facility in Wenatchee Washington where i live.

  321. Brodie Turner

    bitcoinmovements.usitech-int.com/

  322. Thomas Schweitz

    Coins are actually now the number one Investment to make some money. After Bitcoin Dash Etherum and Litecoin startet a Rally . Ripple is doing also a great Job.

  323. Dan Sutton

    The ruling elites created fiat paper money, now the crypto currencies. Everything fraud including ETF digital gold & silver (1/10th value compared to real metals) were created by them. When JFK wanted to back fiat money with real gold, they killed him. Clearly they don’t want the masses to buy the real gold or silver. Many private lawsuits have been filed against large banks for illegally suppressing the true value of precious metals. Yet governments from all over the world are desperately hoarding physical gold & silver for themselves. If ordinary people were to be armed with the real gold or silver, the coming One World Currency which will be the RFID IMPLANT to be forced into our bodies will fail, because the elites will have no premise to push their reset-switch to usher in their One World Dictatorship. How will the coming apocalyptic crash look like? It won’t be one, but through a series of events that will happen simultaneously. Bitcoin will play a part in this crash. A word of advice, diversify into some real physical silver while its still cheap ($16, 12/14/17)). Nothing is precious unless it is a property which you physically own and control. Something the elites despise! 

    Revelations 13:
    16 And he causes all, both small and great, rich and poor, free and bond, to receive a mark inside their right hand, or inside their foreheads:
    17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
    18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six Six Six.

  324. Gabriel Kawa

    I would love 5 bitcoin ^-^

  325. Gabriel Kawa

    Love this video

  326. Anthoniel JeanCharles

    Boy was he wrong at the end

  327. Biniyam Asnake

    Wow, this was so helpful to understand the entire bitcoin and blockchain concepts!

  328. Jimbo Avfreak

    So, how does the system know when a block is solved? As I understand it, there are an exponential amount of possible solutions, so how do you know which one is correct?

    1. SAL

      whichever valid solution that gets broadcast first is what is accepted by the network.

  329. Starplaque

    Omg i fell in love with him the second he started talking lol

  330. Rodrigo Aceves

    its essentially a really cool method to have people crack banks

  331. Rodrigo Aceves

    shouldbe couldve woudve . its worth thousands

  332. Alex Liu

    COINBASE is the easiest platform to buy & sell Bitcoin/Ethereum/Litecoin!

    Sigh up here:

  333. Lindsey Felding

    Best lending platform out, join up.

  334. NateDoesRox

    What happens when its no longer worth ‘mining’ bitcoins?
    Will people stop executing the SHA256 and then the blocks wont be created?

    1. MissPronounced

      b. t. And you think paper money and gold mining isn’t polluting?

    2. b. t.

      It’s really using up quite a lot of energy to maintain this system (i.e. polluting the world.) What happens when the lights go out?

    3. Sam Mousa

      NateDoesRox it’s always worth it because let’s say you get 1000 per month to mine.
      200 electricity 200 equipment then you get 600.
      You buy a newer GPU and a much faster for it that cost 400
      You save 200
      Next round you will get more money because of your faster GPU and repeat

  335. annatikitiki

    the best explanation i have seen…thank you !

  336. Devon Beard

    geeesh 🤯

  337. Aliensinnoh

    My problems with crypto currencies in general
    1) They seem destined to circumvent financial laws, allowing for rampant tax evasion and money laundering
    2) the electricity that will be required to maintain this system overtime will skyrocket, becoming very bad for the environment.

    1. Aliensinnoh

      It’s not lost on me that many people take the 1st as a bonus. That saddens me.

  338. David Mike

    Sharing a dollar in bitcoins a day keeps the doctor away😄
    1AxMH45ZMum4c13hqai3bUcbNfdAYTrBJY

  339. Jakub Levine

    bro 1 bitcoin is like 18,000 now, I hope you got some during the making of this video

  340. Dong Kwang Jung

    Bitcoin might be a financial solution for the next generations however people should be aware that this can be a huge problem. People say that the block-chain system is almost impossible to hack however a smart AI can hack all the computers at once. People are buying and building all these computing powers for this but in the end it might mean that we are all giving our power to an AI because it is possible that an AI can overtake all these computing powers and take over the world. Imagine an AI cashing all this out someday and using all our resources for their survival and revolution. It’s pretty scary.

  341. Devantejah

    And almost 17k USD at the time of writing!

  342. WayneTwitch

    Bitcoins are @ $17,400 currently at 12/13/17

  343. matt crazzy

    tho wont this effect taxes and wont the government just ban bitcoins?

  344. shismohammad mulla

    Awsome video

  345. Philip Hughes

    Hello People 🙂

    Bitcoin has risen 18 times in one year alone, with no signs of slowing down anytime soon! You can get $10 fee of Bitcoin using this link and also buy litecoin, which has risen over 400% in a couple of days!

    There are many other great cryptocurrencies with great potential, you can trade bitcoin for them here http://www.binance.com/?ref=11293205. All it takes is a bit of research which you can find here on Youtube to try and figure out which coins can make you a lot of money! There is unlimited potential in cryptocurrencies and I suggest you get into it now while coins are still cheap.

  346. KASHISH GANGAWAT

    Good stuff.

  347. Dalek Anonymous

    Bitcoin is a bubble, but one that will not pop in my lifetime. Invest.

  348. Carolinian Corner

    Genesis is still out of the game, hashflare only reliable mining resource with Bitcoin contracts!

  349. harsh pathak

    Hundreds of dollars 😂😂

  350. Brandon Diaz

    So what exactly is a bitcoin? I still don’t fully understand the concept! Is it free electronic money? And what exactly is “mining” bitcoins? I now what mining means, to dig: to search, to find. But if people mine for bitcoins and they find them, what does it mean for that person? Ive seen adds for stuff and you can pay for that stuff using bitcoins. But what exactly are they and where do they come from? This video was informative but I still don’t understand what they are, how they work, where you can find them, and how you get them. How come the bitcoins have a half life curve? What does that mean? I’ll have to watch this video again to grasp the concept again.

  351. richhobo1216

    Was bitcoin worth investing in? Well, 1 bitcoin was worth about $850 then, and every bitcoin is worth around $17000 now. So, debatable.

  352. Maneesh Gupta

    Great analogy with Poker

  353. BILAL VLOG & REACTS

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  354. unknøwn

    I hate how his voice lowers and slows down at the end of every sentence

  355. Wong Wai-Kit

    You didnt explain how bitcoin can worth so much.

  356. Matthew Crestward

    I bought 14 bitcoins in 2012 sold them in 2014. I hate myself

    1. Woke Watch

      at least you made a profit and possibly did something good with the trade. It’s still early!

  357. Sean Wilkerson

    $11,000+ now baby.

  358. Aaron Timoteo

    😕 “Why don’t you explain it to me like I’m an eight-year-old?”

  359. feras hdaib

    my question is what can u buy with bitcoin ? and if the bitcoin worth 8500 or more and i want to buy something worth 1000, do I get change or something how is it work ??!!!!!

  360. Ersan Yildiz

    You can still invest in Bitcoins by mining. Your deposit will be worth more than 5 times as much now and more as the Bitcoin rises further. You can invest now with a minimum amount of $1.50 at Hashflare with my referral link:

  361. obe dan

    am still vague…

  362. Michal Valta

    There is a one reason I hope bitcoin will fail. It’s all those big time miners filling warehouses with servers, just mining. It would be so nice if they just lost it all. 😀

  363. monstaro

    Wow this is the best explanation video I’ve watched – I’ve watched like 3 different videos on bitcoin before this one and still didn’t fully understand it. If only I had just watched this one first

  364. BRBallin1

    Isn’t it bad there is no central authority to intervene in case of a fraud?

  365. 129543a

    1 year later bitcoin is almost at $20,000

  366. Jordan Burton

    This is dumb and smart asf

  367. heidigfx

    who decides how much to tip the miners?

  368. Brenton Lector

    If you’re interested in investing in crypto currency, please use my referral link for Coinbase! Both you and I will get a free $10 in Bitcoin when whoever uses this link buys or sells $100 in crypto currency 🙂 thanks guys!

  369. Matthew Grossman

    if you invested in 2016 you’dve made so much money

  370. Joe21.1

    Where would you buy bitcoin in 2009

  371. Roman Vigil

    change the system from money or Bitcoin to a society that is teaching others to work together, to love each other, to be united together, great speech through and through

  372. Lone Wanderer

    A *BIT* of a coin

    NO ok

  373. Internet Hustler

    Amazing video! Best breakdown on the web

  374. WowitsLife

    And now one bitcoin is worth 17000 goddamn it

  375. Menyou Onori

    ᵈᵃᵐⁿₛₒₙ

  376. NMsly

    Excellent explanation! Thank you.

  377. Omega_Ronan

    So, transactions are made with bitcoins, each transaction is announced and is put onto the ledger. The completed block of transactions is submitted by the first “person” to solve the security hash, and each time a block is submitted into the blockchain, they’re awarded X amount of bitcoins (because solving the hash is so expensive). The bitcoins are then used to buy more things, which are a part of another transaction, which perpetuates the blockchain. This is all correct, right ? I had a question, but I don’t think I so anymore. Alright, nevermind then lol

  378. vampirekhaine

    You know what, this actually is a great explanation. No screaming kiddos or usage of terms that don’t matter. Just simple and to-the-point. Thumbs up SciShow!

  379. Anthony Bryan-montanez

    very helpful. its dec 11 2017 . 12.5 bitcoin is worth 215K

  380. Ben White

    Anyone heard of BAT? I predict it will go up over well over 1000% in the next year or so. Trade your BTC for BAT on binance now haha. 

  381. Ratel 2

    December 2017 Bitcoin $18.000 this morning. Just for the record, it was worth to invest in it:)

  382. Benarkin-Rebel Truth

    Man will regret Bitcoin, and the underlings crypto currency: … as AI is the one doing the mining … building upon it intelligence, learning how to control man, and next to enslave man, then the extermination of man, using mans greed to reach its goal.

  383. bjshnog

    One coin worth HUNDREDS of dollars? Wow!

  384. Sierra

    Ive been watching so many videos to understand what bitcoin is and this has got to be the best one I’ve seen so far. Really great job at explaining everything!

  385. Ferrara KidsClub

    This is like dumb and dumber where they spend all of the money in the briefcase and write little IOUs in place of the money.

  386. Pete Molkenthin

    Great explanation.

  387. Narayan Karwa

    If u want to join any coin contact +918861062031

  388. yusuf edo

    Please send any btc to 17TZDPyjzXzUq8ihbrSD8CgTx53Vzvft9u to save my life

  389. Amanda G

    I still don’t understand how Bitcoins hold value?

  390. Michael Owusu

    was that CPGrey

    1. Dielfon Elettab

      it was his logo but I don’ think it was him.

    2. Fishmonger !

      Sure looked like his logo lol.

  391. Nathan Vanismaston

    i am here to share my trading success story on this platform because it was still on platform like this that i have been able to locate the account manager who have helped me acquire so much in trading in such a short period , i was a newbie to trading 11 months ago and i was scammed ,scammed and scammed again by different unregulated broker, until i met a trustworthy account manager , who have taught me how to trade, now i realize that for so long i was just gambling with my money and that was why i have gone into so much loose in the past ,since i started to trade with Thoms strategy , i have been able to secure $14,000 weekly in trading , if you desire to become a successful trader, you should reach out to Mr Thoms today , shoot him a mail on Thomswales@gmail. Com

  392. Nathan Vanismaston

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  393. mohammad omari

    16000$ now 😂😂😂
    Gg world 😂😂😂

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  395. acid walker

    hahahaha good luck bitcoins guy buhahahahahhahaha

  396. global ENTERTAINMENT 2017

    who made bitcoin 🤔🤔?

  397. Victor Hugo

    Is it really impossible to mine for than X million per crypto? Or will a computer nerd invent a new supercomputer to issue another few hunderd million? Nobody can tell right?

  398. Victor Hugo

    only works as money if taxes are paid to the world´s governments or it forms its own worldwide government and overthrows national governments and distributes budgets for each country evenly so Zimbabwe would have as much of a national budget as the usa which might happen?

  399. Victor Hugo

    so, this means any company should just offer their shares with a cryptoprotocol to make their own currency, then why wouldn´t Google have made Google Coin?

  400. Victor Hugo

    ah, so its like say Google or Apple shares becoming a currency, whereby you can trade the shares to buy stuff at the supermarket or a car, etc.? Instead of dollars.

  401. Victor Hugo

    cryptocurrency means Bitcoin right? otherwise there are now a few thousand crytology protocols (or computer code series) with names attached and it is a question of choosing the most popular ones, the rest of them dieing, so Bitcoin would be like the Dollar and Litecoin the Euro and Euretheum the Yen, etc. The problem is there are too many cryptos it would have been better if there were only a dozen crypto protocols without more being minable, just as supposedly Bitcoin is capped, then there is the question of computer nerds hacking stuff, and actually being in the hands of superhackers, and from what I understand if you have a nuclear powerplant behind a few supercomputers and hardware or software available from crypto peripheral suppliers, you can mine or “print” the crypto?

  402. BiohazardCake

    So basically it has become a monopoly already

  403. akenterprises

    I think I understand. But if the number of bitcoins is limited, once they have all been mined then there will no longer be an incentive for people to update their ledgers since there won’t be a reward for it anymore. What happens then?

  404. Renagade 987

    < $10 free dollars when you first make an account xD <3 Happy coin-trading m8s

  405. Sal O

    This is just another wall street hustled for railing in suckers who know nothing about investing

  406. Yaksonator

    What the he’ll did I just watch…?

  407. RazzlePhoxx

    thumbs up for cgp grey cheating at poker

  408. Th3m4st3rl3mur

    0:13 *coughs* thousands

  409. rdw3ut

    When the super villain Joker laughs what is he thinking about?

    Bitcoin crytocurrencies was created by a handful of super hackers. They have created a back door in this software system for transferring cyber money that will allow them to access this form of transferring currency to their offshore bank haven account and become trillionaires

    Idle hands are the devils playthings. If you stay busy doing “good” “honest” things than it is easier to resist temptation. But where is the fun in that? The devil is watching. 

    Bible verse – Matthew 4:6 6″If you are the Son of God,” devil said, “throw yourself down. For it is written: “‘He will command his angels concerning you, and they will lift you up in their hands, so that you will not strike your foot against a stone.'”

  410. Road to the 2 Comma Club

    2016 me: I don’t know if I should invest in bitcoin…
    2017 me: YOU DUMB ASS WHY DIDN’T YOU INVEST IN BITCOIN!

  411. Cake Gaming

    This really helped me understand how crypto currency works. Thank you! Subscribed! 🙂

  412. Freda Woldemar

    Trading BTC or other Crypto currencies can be extremely profitable for professionals or beginners. The market is new, highly fragmented with huge spreads. I have made $35,000 of my investment in my first quarter. Invest in BTC today or any other coin. People have already lost so much and some don’t know how it works so to count yourself out of these categories, contact me via (fredawoldemar@gmail.com)

  413. Arafat Hussain

    …God bless man, I could afford plane tickets for
    my SMALL family (6 children)…I had to pay by Bitcoin but little pain for big save
    is cheaper than farecompare and expedia….
    $30 cheaper on average on USA to UK/EU flights.

  414. Sharaswati Murti

    What if it got hacked or something?

  415. Matic Petrič

    Could you describe how IOTA works? Since it does not use blockchain, but a protocol called TANGLE.

  416. 루 루

    Bitcoin mining service bb
    0.001 BTC – 0.49 BTC: 2.74% daily
    0.50 BTC – 2.99 BTC: 3.17% daily
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  417. Tondra Tithi

    …God bless man, I could afford plane tickets for
    my SMALL family (6 children)…I had to pay by Bitcoin but little pain for big save
    is cheaper than farecompare and expedia….
    $30 cheaper on average on USA to UK/EU flights.

  418. Ryan Martinez

    watched like 4 15 minute videos to finally get to this one where i actually understood the topic. thanks!

  419. lauriano mercado

    -STEP 1 -CREATE YOUR E-WALLET (I use Coinbase)

    -STEP 2-VERIFY YOUR ACCOUNT AND PURCHASE SOME BITCOIN

    -STEP 3 HOW TO MAKE MONEY WITH BITCOIN

    There are several ways. But, I use USI-TECH

    You get 40% MORE bitcoin with USI when you buy a package. So no matter what the price is after 140 working days pass, you have 40% MORE bitcoin in your possession. If it goes up substantially, which many believe it will, you earn substantially more because of USI. If it goes down, you hedge (you protect yourself and can still earn significant profits even if it goes down because you have MORE bitcoin.

    FOR MINING I USE: BITCLUB NETWORK

  420. lauriano mercado

    -STEP 1 -CREATE YOUR E-WALLET (I use Coinbase)

    -STEP 2-VERIFY YOUR ACCOUNT AND PURCHASE SOME BITCOIN

    -STEP 3 HOW TO MAKE MONEY WITH BITCOIN

    There are several ways. But, I use USI-TECH

    You get 40% MORE bitcoin with USI when you buy a package. So no matter what the price is after 140 working days pass, you have 40% MORE bitcoin in your possession. If it goes up substantially, which many believe it will, you earn substantially more because of USI. If it goes down, you hedge (you protect yourself and can still earn significant profits even if it goes down because you have MORE bitcoin.

  421. Nuki Hamidovic

    Sounds like a scam.. that will come down crashing

    1. Woke Watch

      they said that in 2011, 2012, 2013, 2014, 2015, 2016, 2017, ….wait for it

  422. Daniel Moret

    Being dealing with BITCOIN for a few moths now and honestly this is one of the most simple to work with and it’s FREE to SIGN UP! It give you access to the currency even if you haven’t invested on it yet!

  423. Research Institute 2

    Quantum computing will make these blockchain updates instantly.

  424. Fazil Fazil

    dont u ever blink? ☺️

  425. Blai Carandell Saladich

    Very through and clear explanation, best I have seen so far. Thank you!

  426. Bruno Silva

    1 BTC = 17,000 USD yesterday…

  427. The LAD Bible

    Use this link and get 10$ bonus!!

  428. noxxi

    Currently 148 GB of data

  429. Creative Media

    Best Bitcoin Documentary Ever Don’t Miss Out

  430. Simon Dreyer

    Who is watching this now that bitcoin is worth 17,000$?

  431. William Staib

    Get $10 in BTC when you invest $100. Can be now, can be in 6 months. Just have to use this sign up link:

  432. D Travel

    bc will not collapse at this moment. many people buying it. it is mainstream. next 5 years it will grow up together with all c. currencies. when we talking about mining, where is real money behind it? who will pay off miners? new investors, i guess. also, mining is the waste of the energy – why no one is complaining about it? no fee transactions – a joke. not exist on earth. only digital currency – also a joke. we trade and transfer money digitally for many decades before bc. crypto is also used in banks before bc. for me bc is just trading style. a good part of it is implementation. it is the real thing. but also is one big unsecured alternative mess. in the end, can work duo big investment in it. so what u need to do, invest and take money out, invest and take money out.

  433. Mike Lucero

    Hello guys! Are you looking for trusted and paying site for investment !?
    This site i want to recommend for this one is very legit !
    only buy an hashpower, the much you buy or invest the more you earn so come on guys ! try it !

  434. Aczell

    Well there worth 16k a piece now and my friend has 600 of them so see u all in hell boys

  435. naveen davis

    get flipcart view video crypto tutorials

  436. ain't dat snipes

    still don’t get it yo

  437. SpitefulAZ

    As of 12-7-107, 1 bitcoin is worth $16,200 USD.

    This is most dramatic spike in bitcoin value we have ever seen!!!

    Buy bitcoins people.

  438. Casey Goode

    Hundreds 😂😂😂

  439. ManPursueExcellence

    There are so many scammers in the comment section wanting to motivate you to sign up with themselves or someone else. They plan to create wealth with your contributions to them and not from bitcoin investing.
    Think about it.

  440. roger sherer

    Physical evidence is important to prove that it belongs to you, money already has no value at all just a piece of paper to prove that you have enough didgets to pay for something or backup our value of so called money that we worked for. This is far worst to trap us more deeply into deeper slavery, They say there is no bank and it is decentralized , really ? nice commercial man. Your forgetting computers can be shut down with all the data’s and all. Who controls the mainframe of the internet is the banker. We already have a small assurance of this money system; and these individuals want to take the remaining hold of our evidence of our labor away. Please people don’t buy into this crap…think about it what physical evidence do you have when this individuals delete or shut down the internet. Man only the gullible………….

    1. roger sherer

      No the internet doe’s not need to be shut down to change the iformation there in. The topic is about who controls the internet grid , which symbolize the fear of the banks that controls the physical money. Look at it from a wider view not only because of convenience sake . Just like the physical money there is no gold to back it up anymore but at least we can hold the proof that it is ours. The banking system has been controling the printing of our money . Much of us does not realize what power is that that has been given to these bankers, ” THE FEDERAL RESERVE ” . Try to study on this topic you’ll understand what i mean. The control the flow of the monetary system, that controls the economy. Meaning it is there choice who should be rich or poor. Sorry but this is a vast subject you half to go in your own to research in. Now back to our topic, now think about this if they can control the monetary system with the physical evidence . How much do you think they can do with just bitcoins in an abstract form. Man I’m not against it but “EVIL” has no bounds…..

    2. Ayu Ningsih

      roger sherer i think you should trying shutdown the internet all over the world and let’s back to stone age. No comunication etc 😄😄
      *sorry my bad english*

  441. syndicate ccv

    hacker needed???dm me on instagram for bitcoins hack only not interested in any other than bitcoins 100% @bitcoinsonly4us!!!!

  442. Luís Gonçalves

    What program do you have to use to produce bitcoin? Where do you get this program? How much will it cost? Is it true that we can no longer produce bitcoin and why?

    1. Sheila Bailey

      First of all Miner still mine bitcoin but this will end once all 21 million BTC have been mined, there will never be any new bitcoins. When this happens users of bitcoin will trade their bitcoins which is more stable and higher in volume and with lower transaction fees. Now owning a mine is going to take a lot of time,money and power(electricity which the cost can make up 90-95% of total ongoing mining costs) and the more there are mining networks,the more miners find it difficult to mine. They are other ways of going about this, that is investing in companies that mines and getting your investment profits daily. Mail me let’s talk more sheila.bailey2000@gmail.com

    2. SAL

      Mining software is freely available! What you need to mine bitcoin is very expensive mining hardware!!!

  443. Colin Tan

    Smart nerds and hackers should mine or steal bit coins rather than trying to rob poor computer users.

  444. Alan Nguyen

    ….aaaaaaaaaaand Bitcoin is worth $15.5k USD as of now. (12/7/17). It was less than 10k last week…

  445. tyler ham

    anyone else watching in 2020? i cant believe their worth 100k a piece

  446. BEST TSEB

    HAHA now it’s worth 7000 USD

    1. SAL

      much more than that actually.

  447. SuperWolf1964

    Within a few years, all the civilized countries will do away with physical money and we’ll buy and sell everything using something like Bitcoin: but probably using a chip implanted in our hand or head to act as a key. (So you go into a shop, gather your shopping, go to the checkout and place your card on the reader, It’ll read the chip, check you’ve got enough currency in your currency account, and pay for your shopping. If you want to give money to someone, you’d either write a cheque or both go to a public terminal where you could transfer ‘n’ amount of money directly into their account from yours.)
    The UK is already working towards this by introducing horrible plastic banknotes. Plastic notes stick together if new so you can accidentally hand over 2 notes thinking they’re just 1. They crease/crinkle so the take up more space than they should. They melt – the old paper/cloth notes could be iron if you really like neat crisp money. A lot of people call the new plastic notes monopoly money.
    The only thing good about them is they take years to rot: but then again, I don’t know how U.V. affects them.
    I think the introduction of plastic notes is to make physical money so irritating to use that people will welcome virtual money instead: and that would certainly kick the counterfeiters where it hurts!!! :o)

  448. Chest bahhh

    Anyone interested in buying bitcoins. Use coinbase to buy bitcoins, receive free $10 USD worth of bitcoins once joined. Make sure to use this link

  449. Munggo Jerry

    bitcoin soon to be crash/collapse and totally phase out because of increment of price everytime as the same time descending of volume, frustrating huge fee from blockchain, so more miners are quitting now selling/disassembling their mining rigs, other than switching to other bigdeal crypto/altcoin such as ethereum, litecoin, monero, and mostly in europe and asia others investing electroneum nowadays a newly viral coin exchange in cryptopia.

  450. Rodrigo Illas

    Go on normies, fomo into my taking profits muahahahaha

  451. TRUE SHINPEI LOAN

    it can be confusing figuring out how start up collecting and holding cryptocurrencies. I suggest using Coinbase, its fees are reasonable and the platform supports 3 of the most popular coins. Try using this link for a free $10 credit once you invest $100 (helps me out too)

  452. Ay-Ay

    Bitcoin futures are going to start selling on December the 10th this will legitimise the currency to be used for large purchases to do with hedge funds ect…. Because of the currency having a guarantee the price is just going to rise even further. When 3rd world countries abandon their failing currency such as zimbabwe and start using crypto this is where we will see another boom. If you want $10 free bitcoin

    1. b. t.

      But why wouldn’t Zimbabwe just invent their own Zimcoin cryptocurrency instead of paying 20k for a single bitcoin?

  453. R Pan

    1 Bitcoin= $14000 right now

    1. Cpt Onomond

      R Pan 18,000

  454. Truth Network

    Lol……. Bitcoin is a con its been put there to steal all the real wealth from the people Gold for example.

    9 ounces of gold for a bunch of numbers and letters on the screen. people will trade their gold because they’re fooled into believing there’s value in those numbers. After this happens the masses will be easier to control by the elites.

    the elites have let these few sheeple get huge profits so that it can create attention. do not be fooled by the fools gold, come on guys the elites have been controlling money for centuries do you really believe that they will let such a thing come and destroy what they have built for centuries in less than a decade? NOPE! this bitcoin is controlled by them you hear about it from their own sources from the beginning their controlled media spoke of it but it wasn’t ready they had to shake up the market let people loose faith on fiat currency.

    The waters are just perfect right now for full promotions. When everyone joins this system we would have given them the world basically for numbers and letters on a screen.

    money is just paper it’s a forced concept on the mind and not to be taken in reality where people harm each other for it.

    thats disgraceful. knowledge is power people and always remember THE ELITES DONT FORCE THINGS ON US ANYMORE THAT WAS WW2 TECHNOLOGY BUT YOU CAN BE SURE SILENT WEAPONS ARE WORKING ON YOU PERSUADING YOU ENDLESSLY DAY AFTER DAY. (THEY ARE YOUR SHEPARD BECAUSE YOU DO NOT SEEK KNOWLEDGE) sheeples in brackets

    1. Midsummer light

      Plus you’re a conspiracy theorist which is a mental disorder. I hope your recover soon.

    2. Midsummer light

      Truth Network haha you’re probably a goldbug who is in his 90s . Gold has absolutely no utility in the modern world.

  455. SoulMusic

    i will appreciate you generosity 1BD3NHmSaZ2Fb9tB24H3UTpBXPtkjBnbZz

  456. Chaomein

    Bitconnect started at $1, it’s value is $200+. Regalcoin started at $0.90 now it’s price is $50+. Hextracoin started at $0.80 in just a month, it’s price went up to $35+. Did you miss it? DON’T MAKE THE SAME MISTAKE! This is your chance!
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  457. Mantukas Teikantas

    Hello i’m noob who ask small amount of btc. Want to see how much people can donate. And then i will make a video. Wallet 1DAUeDmzU7v7uopU3p4ZWFgHJFdubRoREk

  458. Dat Boi

    How do you spend your bitcoins though?

    1. Sheila Bailey

      I wouldn’t advise you to spend your BTC ust yet. investors are speculating BTC will sky ricket 2020. You can trade your btc and eran more for the time being. it;s what i do and it’s been quite profitable.

    2. SAL

      first, find a place that accepts them – for example, Overstock or Newegg. Then when you pay, you can just pay by opening your bitcoin wallet on your smart phone and scanning a qr code. It is pretty easy to do.

  459. Matthew Sanchez

    Join Coinbase and recieve $10 in Bitcoin with your first transaction!

  460. Matthew Sanchez

    Join Coinbase and recieve $10 in Bitcoin with your first transaction!

  461. Noah Yannik

    Let’s not confuse investing with gambling, With the way bitcoin has been going i know it’s the future of the world, this is why I I have always recommended Mr Thoms guidance to every trader who seek proper guidance in this currency market. He has been the back bone behind my success. you can reach out to him via his email thomswales@gmail. com

    1. Fishmonger !

      Mr Thoms held my family hostage for 20,000bs of cabbage. I would not trust Mr Thoms unless you are a cabbage farmer and can afford the ransom. You are better off contacting a different scam account on Youtube and save the cabbage.

    2. Woke Watch

      He lost all my money, 0 stars, wouldn’t send my bitcoin again.

    3. Michael Frederick

      Thanks for sharing this mr Noah

    4. frank durant

      This man a Pro on Bitcoin, My wallet is making me feel i have a great future than bill gates hahahahahahahahahaha

  462. René Agerbo

    If we are to continuing having currency it should be the likes of ‘crypto coins’ anything else is repulsive of a large amount of reasons.

  463. Daniel Bier

    Who watches when Bitcoin is at 12800USD? 😀

  464. Valve Wizard

    Wow a bitcoin explanation that is actually good!

  465. seamusg05

    *mindsplosion*

  466. Shariq Khan

    Its like this guy is running to catch a train… Slow down bro,,,, you took over nine minutes would have been better to take 2 more to make it more understandable , what easy for you doesn’t mean is easy to understand for someone else… thumbs down

    1. nonya biness

      Sheila Bailey hey Sheila! I still haven’t received my 50 gallon drum of buttlube you promised me with my purchase! Can you help? Email me back for details, thanks!

    2. iMoose

      Trust me this the best explanation I’ve seen yet

    3. Indospace-dot-io Time

      You can pause, rewind and forward the video. I caught all of it just fine. Guess people all learn at different rates of speed.

    4. Sheila Bailey

      Lol. Go easy on the poor guy. If you are newbie or you have questions. Mail me let’s talk about it sheila.bailey2000@gmail.com

  467. McGliga

    And here we are almost a year later at 11.000 dollars per bitcoin. Oh how things change quickly, dont they?

    1. Woke Watch

      If you are looking long term, either of them is just as good as the other. However, ethereum has mass adoption and many other coins/programs riding on it. As of now, litecoin is just the cheaper version of bitcoin. IMO this makes ethereum a better better buy, but every currency will go up a lot so just pick one you like.

    2. hasan baig

      That is generally how bubbles work. He is making a great return now but when the bubble bursts he may lose even his original investment.

    3. Maron Smith

      hasan baig I agree that its worth what people say its worth, however that is fiat today that we use. Its backed by full faith and credit of the people. I would say that bitcoin and all coins are backed by the money people put behind it and generate a good return on investment) from the lack of supply and the demand that drives the money cost of the coin up. I would say just find the right time to pull out and invest into something that is tangeable that would keep money flowing in. And my brother in-law has put $100 into bitcoin earlier this year and has seen a huge % increase on that investment.

    4. hasan baig

      Yes and no. Assuming that it does not burst until all of the supply is used up. It will burst then. However, what is much more likely is a market correction. Something like 90% of all Bitcoins are owned by 3% of Bitcoin addresses. This is not sustainable. Also, the market cap is ~$300 billion. Without much practical use as a currency, it’s value is based solely on what people say it is worth. If it does get used as a currency. The early buyers will be spending their Bitcoins on goods and services and the value will drop significantly. Cryptocurrencies in general are not worth investing in – they are too volatile and do not have any backing or any intrinsic value.

    5. addy burnam

      guys whats more worth while to invest in eurtheam or litecoin

  468. guyranting

    If only he would have invested in a few bitcoin when this was filmed

  469. lmd742

    Haha I currently traded the 552 Bitcoin I have mined over the years. After looking at projections of value for Bitcoin, should have held a much longer position. I still mine, but don’t think I will achieve as I have previously.

  470. Mayonnaise

    “The future of digital currency”
    Last support update in 2015
    I doubt it

  471. Ryan Cioffi

    One question though. If miners get paid for keeping the ledgers running and updated, what will happen when the maximum of bitcoin payouts are reached? wouldn’t people stop mining and eventually the system will no longer have miners to keep it updated?

    1. Ryan Cioffi

      Who are the users? O.o Because it seems quite possible that in the near future governments will find a way to own and control it.

    2. SAL

      The code (open source code that is 100% available for anyone/everyone to verify/review) was initially developed by the inventor – and it is run by the USERS. basically, the users are the ones controlling it today. Some people think miners control it, but really, miners are just workers for the network (they follow the rules set by the users). The math “puzzle” that miners solve is just a competition to ensure energy is being put toward the security of the network – i would suggest first watching Andreas Antonopoulos youtube videos before going in the “depths”. I would also suggest you read the bitcoin whitepaper – it is only about 8 pages long.

    3. Ryan Cioffi

      Is there any information on the whole technical part of the crypto currency ? That goes into the serious depth of the mathematical equation

    4. Ryan Cioffi

      Wow thanks for the info. It sort of makes sense.. But what’s controlling it? who says what it does? or was it all planned ahead by the creators? What happens if for any reason the whole network fails?

    5. SAL

      The miners get paid with transaction fees. Today their reward is 80% new coins 20% transactions fees. In the future, transaction fees will take over as the main incentive to mine.

  472. Kanecobe

    as of today 1 bit coin is worth £8767.12

    1. Kanecobe

      yep over here it just shot up to 12.5k its gone haywire recently.

    2. hexagamer studios

      Kanecobe nope now over here itd 17k

  473. Fusion Tricycle

    How do you become a bitcoin miner?

    1. SAL

      by using powerful computers

  474. Mr Barwick

    as of the making of this video, bitcoins were worth 700 dollars a pop, now in 2017 a year later, they are worth 11000 dollars each. Fucc

    1. Im Lava Golem

      Mr Barwick the higher its worth, the better? Or what

    2. Comrade Kim

      and now 17k

    3. Yung Pin Chen

      and now, 4 days after you commented, it’s worth 15.000

    4. Ray Li

      How you like it going up $6000 and hitting $17,000 in just 1 day?

  475. Nibba

    just send some bitcoins to me for no reason xD 3PnWPXUKwEBNxk87xBXNbDJDdTFXc3AsgZ

  476. WebFABRIKA Sarajevo

    Try all of this on

  477. CRYPTO EXPERT

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  478. Suman Karmakar

    Consider this before buying Bitcoin

  479. Elly Mejiawertyi

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  480. Amare Safari

    Dope video! Eventhough I got in late this helped me more than DOUBLE my investment. If you care here is goes lol.
    ((( )))

  481. William Hall Photo

    ELIF please

  482. GerberLandscapingLtd John

    ANGELINVESTORS.IO Check out this awesome ico guys, become an angel investor with angelinvestors.io take your investments to the next level join now while you can!!

  483. HeavyLikesSandwich

    I still don’t understand anything

    1. Sheila Bailey

      Lol. I was once like you until now. Mail me let’s talk more sheila.bailey2000@gmail.com

  484. the8

    Hi, CryptoCritic simplifies these videos and posts them on snapchat and instagram, its a new account
    add CryptoCritic on snapchat, also he gives away weekly bitcoins so make sure to send him your wallet for a chance to win

  485. Scott Sophia

    Good video once I got past the Emo

  486. jeremy delgado

    You can earn up to 0.20btc weekly. I’m a bitcoin miner. Contact me jaydegrado058@gmail. com for more info.. don’t get left behind.

  487. Auto Trading Binary Software

    Do you know that If you bought $5 of Bitcoin 7 years ago, you’d be $4.4 million richer today! Over the course of seven years, bitcoin’s value has multiplied 879,999 times over since 2010. If an investor had decided to spend five dollars back then on about 2,000 bitcoins, that stake would be worth $4.4 million today. With $1,200 spent on some 480,000 bitcoins, the investor would be worth at least $1.1 billion today. Today bitcoin has crossed the threshold of $10,000 and even the government of Venezuela is turning to bitcoin as a way to defeat financial blockade imposed by U.S sanctions. Trade bitcoin and binary options today with an edge on the market, get ATS software and watch your money grow. E-mail < info@autotradingbinarysoftware.com >

  488. Vladimir Guillen

    It’s a great time to invest, you can get 10$ extra by following these link! You can get Ether and Litecoin which can be better to invest on instead of Bitcoin, as is it lower in price than Bitcoin.

  489. Genadij Iv

    Bitcoin = 100 000 $ = 2020

  490. lucas amter

    Want good karma? drop me a line and support me with my first BTC :3 1MRpbkc8wuPUEsF6cpsiqib7trgTVVPivF

  491. Alterate

    >hundreds

    hahahahahah

  492. Justin Benjamin

    1 year later, worth over 15x as much as when this video was made.

  493. Jordan

    Hello guys, I just would like to share you something and yes this is a copy/paste message to be honest.

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    Sign up using my affiliate link and I will give you back the 5% gains I will have.

    It seems like a ponzi scheme (yes, we have to be honest) but why don’t you come in the early adopters to generate some revenue ? . Try this and you will not be disappointed ! We can also create a telegram to share our experiences !

  494. Andrew Smith

    Well.. I’m still lost

  495. Ankush Patil

    Donate 1 btc to below address within 24 hours guys
    3JePuoUGpX9gkLRSX83vj7nn8gtLSdKU8a

  496. Tristan Hobart

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a series of math problems that organize a catolog of Bit Coin transactions.

    Anyone can solve these math problems to help organize this catalog. This is called mining Bit Coin.

    When someone mines Bit Coin they are paid in Bit Coin.

    You can use this Bit Coin just like any other currency. When someone uses Bit Coin a record of the transaction is recorded in a catolog.

    There is a limit on how many Bit Coins there can be. Once this limit is reached the value of Bit Coins will stop decreasing, and start increasing.

  497. iloveslik123

    Go to and copy the best brokers in the world, for easy money!!

  498. SunriseReaper

    12.5 bitcoins.
    “142405.81 US Dollar by todays standards are created out of thin air”

    We all thought we lost out when bitcoin first came around. Now we realize we are still missing out if we dont invest now

  499. Pro Moto

    Here is a extremely interesting reading ! The only TRUTH why bitcoin price is 11.000 $ right now and will NEVER die !

  500. Ceejay

    You can sign up at coinbase to get started -just follow my link —

  501. remle ikawura

    In paper, its much more secure having a transaction compared to my plastic money which is my credit card

  502. diesel2x

    The best explanation of Bitcoin I have heard… Now we need one for Ethereum

  503. jarnMod

    1:44 at the current time of this post, Michael send Hank 56,700$. Let’s see how much it becomes next year.

  504. Wael Kdouh

    Awesome explanation!!!

  505. GODDSUN AFRICANMACK'Nz

    GOLD VS BITCOIN……..GOLD wins

    1. GODDSUN AFRICANMACK'Nz

      Dan Smedstad BITCOIN is not backed by anything

    2. Dan Smedstad

      LOl…how much gold can you take in a suitcase? You can take UNLIMITED bitcoin in a wallet.

    3. GODDSUN AFRICANMACK'Nz

      SAL GOLD is the standard…highest value worldwide…you can go anywhere with Gold and be Rich…Bitcoin not so much

    4. SAL

      it all depends on what use case you are talking about. For example, to make jewelry, gold wins. to send money overseas to my family in a cheap, fast, secure way, bitcoin wins.

  506. Gene NightThunder

    Paul and Dani’s Bits and Bits (very good up-to-date info on Cryptocurrency) … Check em out, look around. Have a good listen and Subscribe !!

  507. 0xygenIsOverRated

    I was looking at bitcoin and mining it in 2012. Didn’t build a rig because I was on the fence. Now I’m kicking myself in the ass.

  508. paise ka bhoot all in one

    sir cryptocurrency k risk bahut hain abhi bharat mein 2017 mein 10 times 8 percent bitcoin ka value ghata hai aur iska risk itna hai ki ye ek horro show ki tarah raha world market mein even investors ke liye bhi sir maine is risk se bachne ke liye bahut research ki aap jitna achhe to ham log nahi but malum hua ke is risk se bachne ke liye glint account ki suvidha open ki jaa rhi hai aap se inspire hokar maine is topic par kuch present kiya hai aap jarur dekhen aur suggest karen thanks for inspiring us
    Show less
    REPLY

  509. Advant Garde

    after new millenial profession such as Youtuber now arise new profession BitMiner.

  510. Cs OuTLaW

    My brain is mush

  511. Zurat Bin Hashem

    BEST EXPLAIN.

  512. Dark Side

    How the hell do you link a bitcoin with USD? i mean how does it happen in the backend that you can convert BTC to USD and vice versa? One is a crypto currency and the other a real currency that govt controls.

    1. SAL

      Hobbyist. I’ve been reading alot about bitcoin and related technologies for several years now.

    2. Dark Side

      Thanks a lot man i appreciate it. Btw are you also studying about it?? or building something?

    3. SAL

      You might be confusing two different different things. If you are interested in making a digital currency that is ALWAYS PEGGED to 1 pound, then you will need to hold an equal amount of pounds for each digital currency you make (which means you will probably mean you need a licence from the government) . But if you want to make a cryptocurrency that is free floating (the value fluctuates based on demand – like most cryptocurrencies), then all you have to do is make a new cryptocurrency and somehow convince others that it is valuable.

    4. Karan Vito

      Man i still dont get it… suppose.. my city mayor asks me to develop a crypto currency for some purpose and being a coder i take the repository from github of bitcoin and start modifying it as per the requirements.. now what will i have to do so it would be just as valuable as £ ? I mean.. i just made a currency now how will i add value to it so it could be traded with real £?

  513. Daniel Owen

    BTCX3 is the real deal. They are the most profitable and reliable bitcoin investment program for now. I joined since Tuesday, got my bitcoin tripled by Wednesday and I expect my subsequent next weekly payout from Tuesday. All my friends that joined also got their bitcoins tripled within 24 hours. – btcx3.com

  514. Mohan Rawat

    Earn Free Ethereum every 2-3 Minutes. Next Day Payout. Invite your friends to earn faster

  515. a64750

    Bitcoin’s a loaded debit card but how to reverse a fraud transaction or stop payment dispute or Nigerian kidnapper
    ransom scam? Who to call if lose the Private key? Market manipulated is not de-centralized

  516. Srinivas

    amazingly explained Micheal! good job!

  517. Masterov Deskyez

    This is the best explanation of the block chain I’ve found, great video

  518. Pyromaniac

    And now £8097.74 ($10910.60) is the value of one BTC.

  519. M.Tugce

    Crypto mining is the next big thing in our time, investing with Mr John’s Crpto mining is what changed my life for the better, stop wasting your money and put it to good use by investing in Bitcoins and Ethereum. With Mr John, Profits are great and you also earn directly to your wallet. his email is verifiedbinarytrading@gmail. com , send him a mail today and start earning

    1. Ricky Gutierrez

      i’m a complete noob, can he help ?

    2. Cici Souza

      i read about John’s mining farm else where, but he has not replied me yet, can anyone help to contact him on my behalf, i want to invest $5000

    3. Mattmax

      Thanks for this information

    4. Emtien Pulse

      i just sent you an email sir, i want to invest $2000

  520. tomcat

    Another clue to who is leading the hype on this : look at who massively puts comments on youtubes … bitcoin trading plateforms. Watch at this … a historical interesting hype on tulipes in the 19th. It remained an exemple … but not understood enough obviously.

  521. Mr 741

    Get Free BitCoin:
    Do you want to know about BitCoin and get some coins for free? Join us:
    t.me/BitCoinGetBot?start=MjM5Mjg0MzY2

  522. Héctor Hernández

    I still dont understand what adds value to the currency, i mean, irl money have economies (production, trade) backing the “safety” of the currency. If you constantly add bitcoins, doesn’t that deppriciate the currency?

    1. SAL

      The problem you describe is called inflation, but that isn’t a problem with bitcoin, because bitcoins are limited in supply (only 21 million bitcoins will ever exist).

  523. gone for now

    um is my phone watching my school classes because my teacher asked us to reasearch bitcoins amd i didnt search this!?

  524. Sheetal Swaroop Burada

    Best Explanation Ever.

  525. brokenSCART

    I GET IT

    I don’t get it

  526. Moneymaking

    Be careful! Cases of fraud with crypto-currencies have become more frequent. The anti-fraud protection program is free and protects you from interception of your transactions on fake sites.

  527. leojamafe

    Thank you for excellent tutorial! Hi every one you can start to buy Bitcoin for as low as $60 and you can get daily interest. Click for Free Register now at my link. Thank you.

  528. joek money

    😪😪😪😪😪😪😪 Will there ever be a video to ever properly explain wtf bit coins and crypto currency is???????? This video didn’t explain nothing

  529. RBX

    But how tf do u even get the theoretical money that you create out of nothing even transfer to real money, u cant actually buy anything with them

  530. Dalton Growley

    lol 1 year later “hundreds of dollars” more like 10,000 dollars

  531. ATUL SHARMA

    Thanks! The information is really helpful!!

  532. Deadly Viper

    donate some bitcoin to me please 🙁

    38tLz3mgxvrLDj8jmGeWaipg2diUMEehxd

  533. Expert Returns

    I’ve been earning free BTC (monday – friday) for the last 4 months through mining and trading profits.

    I have earned over 200% more for free in the last 4 months.

    Register here for FREE

    >>>> <<<<

  534. Let's be REAL

    Hey guys! Idk if you’ve heard of USI tech but it’s an amazing way to invest your btc, instead of just holding it, you can invest it and make interest on top of making money as price goes up! Check it out! Free to sign up. Hit me up with any ?’s on how to use it! Be blessed!

  535. Vineet Bramhankar

    Very nice and informative video.
    Thanx SciShow 👌👌

  536. zawad khalil

    Its very vulnerable to hacking. Its boring. Afterall its a product, not a currency. Waste of time and money.

    1. SAL

      is only “very vulnerable to hacking” if you are a complete noob with computer security. The prospect of replacing banks with an internet protocol is NEVER boring.

  537. joshua gollaher

    If only i bought 1000 bitcoins in 2009, i would be a millionaire now

    1. Dan Smedstad

      And what will you be saying in 2020 or 2025…damn…if I had only bought 1 bitcoin for $10K in 2017 I’d be a millionaire now. (lol)

  538. Rossomak

    I view investment as gambling… and I don’t gamble. But otherwise it sounds good. Just too bad I don’t gamble.

    1. SAL

      Do you see the currency in your wallet or bank account? you are gambling that their value won’t crash suddenly.

  539. Timothy H

    Was that CPGray trying to cheat?

  540. udit gupta

    Today it’s worth of 10000$.

  541. Russell Hopson

    So can you buy bitcoins with a normal currency? Or do you have to be a miner to trade goods and services for bitcoins? Do you have to be a math genius, or is your computer doing all the work for you? Do you simply hook up your new bitcoin worthy computer and start earning bitcoins in exchange for contributing to the network? I need some hardcore laymans sent my way lol

    1. Russell Hopson

      Thanks, starting to understand it now

    2. SAL

      You can obtain bitcoin by trading government currencies, or you can obtain it by selling goods/services. as for mining, it is a process of putting your computer hardware to work for the network.

  542. Atif Yasir

    Okay, he didn’t answer they very question I had in mind.

    1. SAL

      okay, you can ask it here if you want.

  543. Sheikha Katrīna Shabba Solomon Al M.

    Hello, I’m asking for help, recently my BTC wallet was hacked and I lost all my BTC, I hope that someone can send me some kind of donations and restore trust in humanity, because I lost everything I had…

    My BTC adres: 18Q5XhKRAEHcwv3E5KSfDJEJz8JdQ9dVrF

    Thank you in advance!!

    Please like this comment so more people can see

  544. Nikola Krastev

    We are an established company that has been providing crypto services for several years now. Our goal is to expand our business and in order to do so we are crowdfunding through the means of an ICO. You can check us out @ and be sure to visit our new YouTube channel!

  545. DarkCylon

    As of 12/01/2099, a Bitcoin is now $999,999.00

  546. clark hall

    Vericoin is the future of cryptocurrency with a double blockchain

  547. clark hall

    Vericoin is the future of cryptocurrency with its double blockchain

  548. Maritime Studio

    Almost one year later… bitcoin broke $10,000 and is up over 900% for this year.

  549. TefkrosAirliner

    Thanks a lot for this video! One of the best ones out there. It really helped me with my Final report at University

  550. Juan Vargas

    I was on another tab (still listening to the video) when the guy said, “1 bitcoin is worth 708 USD”. Only a year ago it was worth 708USD…. we’re at 10,000 USD people this is insane.

  551. Now I Know

    To know more about Bitcoin …. simplified and also animated :

  552. Adam Blanton

    Honestly, I have been watching bitcoin videos for hours and this one is probably the best and quick explanation I have seen so far.

  553. divinegrace92

    If you are serious about bitcoin you must read this. If you are technologically illiterate please have someone explain. THIS IS IMPORTANT.
    Of course they can change and they already have changed in the past. But if this is bad news to you and you were lead to believe something else, don’t fret, it’s not all bad. Here, let me try and give you the bigger picture about rules in Bitcoin and who it is that you need to trust, that they won’t change to something you won’t like.

    First, there’s a myths that I want to address. I also want to make sure the community pays attention to this issue. Because as Ben Franklin told a woman, the Americans got a republic if they can keep it (turns out they couldn’t), so too I’m here to tell you that you have an excellent money system on your hands, if you can keep it.

    Myth: Miners set the rules by voting

    False. Miners do not vote, they validate. They check that transactions meet the rules and then they add them into a block, and add it to the blockchain. If a subset of miners decide that a certain rule should be changed, what happens ISN’T that all miners now validate transactions according to the new rule even if the subset has the majority of hashing power, instead a so called hard fork happens and some miners validate transactions that obey the new rules, and those who stick with the old rules ignore them and by virtue of ignoring each other they split into two peer to peer networks.

    But what if all miners suddenly switch to new rules? Can they do this? Is there something that stops them? Answer: YES, EVERY NON MINING FULL NODE

    I mean this is critical for every Bitcoin user to understand. Bitcoin is a decentralized system, in which if you run a full node YOU HAVE A SAY in what rules are to be followed. Because once the miner adds a new block, they send it around across the network, and when it gets to you, your client also validates. It validates that the miner validated the transactions and added them into a block and into the blockchain following the right rules, rules that you gave your EXPLICIT consent to when you downloaded the Satoshi client(Bitcoin core). If all of the sudden all miners started validating according to some new rules, your client is coded to simply ignore them, and as soon as just 1 miner following the rules your client accepts as valid shows up, the network can continue to operate under these same rules.

    The ONLY way for rules to ever change for you is if YOU PERSONALLY download a new client version with new rules. I cannot stress enough how important this is. This so important that it should be paramount for anyone who has any significant wealth in Bitcoin to run your own full node regardless of the costs that brings to you. I myself do it too, even though I don’t even use the client for anything else.

    Now this doesn’t mean you should never accept new rules in a new client. In fact you already did because those new rules solved a technical problem. But if you want to keep the Bitcoin money system running under the principles that it is built upon today (FINITENESS, TANGIBILITY, TRANSPARENCY, ANONYMITY, SECURITY, DECENTRALIZATION, SELF-OWNERSHIP, INTEGRITY, PRACTICALITY, RATIONALISM) it is paramount that any such rule changes do not immediately or down the road preclude you from being able to run a full node. Because if you can’t run a full node and you trust someone else to do it for you, then you have effectively given away your power to have say about what rules Bitcoin follows.

    Right now you are a sovereign in Bitcoin. You should never give that up, under any circumstance.

    What do I mean with sovereign? Well there’s nothing anyone could possibly do that can make you accept rules you didn’t agree with. Nothing. You yourself have to decide to consent to a rule change. But if running a full node becomes impossible for you then all that which you were told about Bitcoin, that rules virtually can’t change, that it has a strict limit of 21million, ect, all these rules will then be left to be decided by a small number of super nodes and the people who control them. The second this becomes reality Bitcoin will be no different than simply a slightly more transparent Paypal. And if you don’t want that you better make damn sure you can run a full node.

  554. oMLTI

    Now 10 Bitcoins is 100k

  555. Matt Joy

    use my code 4mCMOg

  556. Muhamed-Hejsam Khechan

    Swapper ico is gonna go to the moon

  557. W4MPS

    I’m going to put my family’s assets into this gobbledygook? Right ! Sounds just as secure as, I dunno, “the cloud.”

  558. Ero Senin

    Its worth 11,000$ now

  559. Paul Taylor

    amazing opportunity happening right now – its not to late to invest and earn big

  560. Andika Hetris

    What happens when the miners no longer get paid?

    1. Sheila Bailey

      i wouldn’t call it a small fee. Every time someone successfully creates a hash, they get a reward of 25 bitcoins

    2. SAL

      as long as there are people using bitcoin, then miners will get paid because each transaction pays a small fee to the miners. Basically, if people keep using bitcoin, then miners keep getting paid.

  561. Bhaalspawn84

    Time travellers checklist : In the 80s buy Nokia stock , they make TV:s and Rubber Boots then. Sell them year 2000. Then buy loads of bitcoin 2009.

  562. Airscrew Pilot

    Question for miners: If over time it takes longer and costs more to solve problems (mine), and you’re rewarded less and less what will be the motivation for miners to continue to mine every last bit coin?

    Different Question: Quantum computing, how can this be good or bad to cryptocurrencies? I can see it very bad initially, that is, until a cryptocurrency utilizes quantum advances. However, these computers already exist. How can that fact be good or bad. I know like anything any tool can be used for good or bad. I’m just looking for opinions of someone who has given this a lot of thought.

    1. SAL

      If it starts taking longer to solve for bitcoin blocks, then the mining difficulty will automatically get adjusted downwards (becomes easier). Basically, the code self regulates this problem. As for quantum computing, if they become a problem, then all that is needed is for bitcoin to adopt a quantum resistant algorithm – problem solved. (Some of these algorithms exist already).

  563. yoroshiku

    I come from November 2017. Bitcoin is worth $10,000.

  564. Plains of Dura

    TEN THOUSAND DOLLARS!!!!

  565. Alex Patel

    Dann I’m a couple years late

  566. EGYPTIAN YALE HOOD

    nice…

  567. Yujing Xu

    Wow, it’s really interesting and the Poker analogy really helped. It took me several YouTube videos to understand how Bitcoin works. Awesome video, thanks for the work! 😀

  568. Toshi Crowley

    Just use a bot if you want to make some quick cash such it works like a charm you just have to buy when it gives you the signal

  569. Andrew Chedid

    As of 11/28/17 Bitcoin is now $9898.99….

    1. Ryan Hansen

      Its over 13000 now

    2. wolftone6

      Andrew Chedid . A lot of suckers out there. Magic beans anyone?

    3. Woke Watch

      mm love those dips!

    4. Random Guy

      back to $13000 :$

  570. USBitcoinServices.Com

    I keep supporting DeepOnion every day because DeepOnion has a potential for growth and because I like the main features like DeepVault and DeepSend. Get your ONIONs today, it is a good time to invest now!

  571. Chinpo

    And now one bitcoin is 8k eur