Bitcoin explained: How do cryptocurrencies work? – BBC News

An estimated £three-four billion is being laundered through cryptocurrencies in Europe yearly, the director of Europol has instructed the BBC.
It comes because the Shadow Treasury Minister, Alison McGovern, says a lot speedier regulation is required.
However what are cryptocurrencies? Spencer Kelly explains all.

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  1. What if a hacker is not going to attack the bookkeepers, but is trying to hack the property owner???

  2. The video describe how BITCOIN works. It does NOT describe how other digital tokens claiming to be "cryptocurrencies" work.

  3. Ironic that your bank gives you permission to buy cryptocurrencies initially.

  4. Nice video

    Buy anything under Rs 999 by following link

  5. Fuck Capitalism and comunism
    Long life to SusoConomics

  6. that penguin cost £193363.19

  7. This was quite well done and really easy to understand.

  8. The basically is only skimming the surface

  9. how do i get this ?? is this a app or ?? a account.

  10. Cryptocurrencies are bought in US dollar or any other currency. So how people are thinking it is not linked to government issued currency is beyond me.. It is like buying coupons with the existing currency and trading with them, it does not have value of its own.. I know people are seeing it as an alternative to the bank and finance system, so there's a lot of interest around it but If I were to provide a solution then it would be self issuance of currency by individuals as per their service and goods provided to society. I am sure such a system can be designed where people will have the power. It will also require a greater responsibility but there will much greater balance as well.

  11. can we have the full episode online ? i have seen it on TV and its very informative. Please let me know the link of full episode.

  12. Still don't understand. ☹️☹️

  13. I thought they were found in Africa…

  14. Why the random factor in the end regarding who earns it? On whose behalf are these automated ledgers motivated to earn it? I hope these are the right questions to ask, and I appreciate the subtitles since the speaker gets a bit inaudible in some parts.

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  16. 我只知道挖矿挖的买不起卡了

  17. Contact me for the best cryptocurrency mining strategy through my email and i will have it explained for you in a flash, providing you with a step to step approach and guidelines to follow.

  18. The philosophy of blockchain based cryptocurrencies is effortlessly explained in just over 2 minutes. Thanks, this video is a good service to humanity – it informs, educates and entertains. Get the philosophy and you get the technical part easily, and go on to build and create new things based on that knowledge.

  19. The philosophy of blockchain based cryptocurrencies is effortlessly explained in just over 2 minutes. Thanks, this video is a good service to humanity – it informs, educates and entertains. Get the philosophy and you get the technical part easily, and go on to build and create new things based on that knowledge.

  20. The video doesn't show that the banks are actually cost you a lot of money

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  23. What about proof of work?!

  24. First problem: can I pay with bitcoin everywhere I can use cash or credit cards? Not at all, bitcoin is not accepted and that's simple to explain: let's say I pay a car 4 bitcoins, worth at payment 40000€, when the merchant exchanges from BTC to Euro these can be 45000€ but also 35000€, who will be so crazy to be the first accepting them (being able to use them nowhere) and taking the risk to give goods for free?

    Second problem: now free bitcoins are "created" to pay for people authorizing transactions but what when last bitcoin has been "created"? Ops, no more to gain, I bet very miner will disappear and only some big will remain starting to ask the fees he wants for payments to survive, and everyone owning bitcoins will have to pay else authorization nodes will disappear and Bitcoin will be worth nothing, ehm… a bit worst than with credit cards and current banking system now…

    Third problem: Bitcoin is not the "nightmare" of governments or banks, I bet it's the best dream: let's say (and I think it won't happen) that Bitcoin replaces currency in some state, then you can be sure that a fiscal code will be assigned to every legal wallet and so every transaction will be traced and the government with a simple query will know every detail about every transaction done by everyone

    Fourth: let's say that blockchain is good and has a value as technology, and in fact is for many applications, that doesn't in any way mean that Bitcoin has any value as it is only an implementation of that technology.

    Fifth: everyone speaks about bitcoin millionaires around the world, but as we know they have to change their money to "real" currencies to use them so they have to take a lot of care, because a lot of bitcoin offer will downprice it quickly so part of that richness will disappear if really used

    And many other problems are there

  25. Just over 2 month ago the whole world was freaking out about Bitcoin, its price simply skyrocketed, going to over to 20 thousand dollars and tons of people invested in it heavily, expecting it to increase further to 100 thousand dollar maybe or even to a million dollar. But unfortunately tons of people lost money because over the last month, bitcoin’s price went down significantly to under 10K and it seems to continue decreasing. if you have bitcoin in your blockchain wallet or coinbase i advise you to trade it for more so when the coin increases you can be among the lucky one. Mr Castro Edwin made me 11BTC under 14days with an investment of 4BTc so my fellow traders what are you waiting for shoot him an Email on so we could make sucess together.

  26. I prefer privacy coin like ZOIN $ZOI check out @zoinofficial

  27. I recommend PACcoin, 3rd generation cryptocurrency.

  28. Great explanation video! Its pretty complicated to learn everything about cryptocurrency, but it helped me big time to join a community like, so I could ask questions to a bigger audience who all know something about crypto. Trying to figure it all out yourself just takes days and days

  29. buy or sell bitcoins at, they are better with less rates on any transaction with them.

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  31. Nice video…I have the same related content on Blog. Maybe you should like it.

  32. Wouldn't trust a dyslexic bank

  33. so if there is a disaster which happens more often lately power outrage is everywhere.with no access to internet whatsoever how are you going to use bitcoin to help you survive in times when you needed the most.

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  36. If you want to know what the fastest method of creating millionaires is right now, then let me give you a hint. It’s called Cryptocurrency and it’s EXPLODING right now. Did you know cryptocurrency is already gaining worldwide acceptance? With governments in Russia, Japan, China and the United States starting to accept these investments… And as of right now, it just also happens to be the world’s fastest method of creating millionaires, currently producing worldwide 100 millionaires a day… Don’t believe me? Watch this video for proof here

  37. I want that bank lady to be mine

  38. Wow ! I like your explanation and the way you have illustrated your explanation with those images !! Well done!