What is Bitcoin? Bitcoin Explained Simply for Dummies



Begin buying and selling Bitcoin and cryptocurrency right here:

Bitcoin is the primary decentralized digital forex. All Bitcoin transactions are documented on a digital ledger referred to as the blockchain, which is accessible for everybody to see.

Bitcoin offers you full management over your cash, in contrast to different belongings you personal that are regulated by banks and governments. As bitcoin positive aspects extra reputation, an increasing number of locations settle for it as a fee methodology.

That is Bitcoin in a nutshell. For the entire easy rationalization watch this video, here is what I will cowl:

zero:50 – What is cash?
three:10 – Fiat cash
three:43 – Fiat cash drawbacks
four:25 – Digital cash
5:34 – Centralized cash points
7:21 – Enter Bitcoin
7:44 – Bitcoin is clear
9:13 – Bitcoin is decentralized
9:35 – Bitcoin is digital
9:56 – Why is Bitcoin such large information?
11:45 – Who accepts Bitcoin?
12:05 – Conclusion

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41 comments

  1. So. As I thought, trust is important here. And, I'm still not trusting.

  2. Good video. I’m beginning to understand.

  3. this whole bitcoin business seems so shady to me

  4. What happens if you end up at a loss in a negative amount ..does that mean you owe money if things get to a low point in trading ..if so,..is this how they make the money ?

  5. So if you do "make" money after depositing an initial amount of "real" earned money do they forward it on & deposit it straight into your bank account,or does it just remain a number in the Bitcoin account that you never really get any way to take out & use it ?

  6. I ask please….this is need requirements like I'd and face selfie picture?

  7. Please review BITCOIN REVOLUTION. Legit or scam?

  8. Fiat money is underpinned by economic activity, interest rates as determined by central banks etc and they have tools such as interests rates and the ability to print money, the use of taxation etc. to create a reasonable level of stability in the value (buying power) of the money they issue. What underpins the value of bit coin or any crypto currency beyond the ability to find someone who will pay more for it than you did, in a fiat currency? The apparent lack of any mechanisms to reduce volatility in crypto currency worth (i.e. its buying power) will always hinder its widespread adoption.

  9. Ok, so the coders that are creating this, what's stopping them from being corrupt and take? And why is everybody ok with the Guy who created this "bitcoin" to be anonymous? What if they are the government in disguise getting ready for the change?

  10. I pass on Bitcoin..this is on the Internet..this is on the computer..This can be HACKED and MANIPULATED…Duh.

  11. how can u swicth from bch to btc

  12. First you are giving the right information, but you are just too fast in disseminating it. It's like stuffing a child's mouth with another candy before he/she finished chewing one, it's going to choke the child at one point and it will no longer be a pleasure. Secondly, we need an animation for the operations of your concepts. The brain is wired to understand graphics better than reading or listening, because the brain will need extra effort and time to translate everything it reads or hears. The more the graphics, the better…so while the message is fantastic, the means/channel is not well built. Thanks anyway for the info

  13. i have problems with the government-backed currencies even if printed by a bank over bonds imagine a free for all system, if it works everybody will want to create his own wealth people have to accept it works, suppose they need to buy bitcoin and how much is floating
    there are idiots to fall for all schemes

  14. If you are not mindblown by the concept of bitcoin and its implications for the development of global currency, then you do not truly understand it.

  15. I would like to know who is after the Bitcoin business?? because Satoshi Nakamoto does not exist. Another question, what happens with bitcoins if the banking system goes bankrupt??

  16. WoW. Tthe image at (10:47) is so relevant. JFK is killed when he "signs out" the federal reserve private central bank, and then Johnson is signed in. Whats the first thing Johnson does? Reinstates the federal reserve. sons-a-bitches.

  17. thank you sir for explaining this ! honestly, there is no video more simple in explaining bitcoin than this one 🙂

  18. You explained it really well, thank you 🙂

  19. Investing in bitcoin seems a bit scary but know that it takes time and effort for you to know how it works. If you understand the potential impact bitcoin has the you'll realise why it's not such a bad idea to invest in it

  20. Do a video of what Bitcoin web/organization to trust.

  21. I see the great potential in bitcoin, example you are in an airport and security guards cannot attempt to steal your money.

  22. Bring on the US digital dollar, digitize the crap out of this bond market. If you want to make money go buy some XPR, its what the Goverments whole system is going to be runnning on.

  23. What is meant by mining bitcoin?

  24. as soon as he said trust the government….i went back to dealing '"other things"'

  25. Bitcoin is the future, invest in it now it is the wisest thing to do especially with the current rise

  26. Thank you sir. one query: you say BTC is a pseudo anonymous but how you found out Laszlo bought pizza? please clarify. Thanks.

  27. Amazing the way you cover the topics! The power of crypto

  28. This video is the most informative & easy to understand

  29. At first I thought it was a scam but after he sent me $3241 to pay my bills and deb
    bigpyptools.store?/1CVGOv

  30. When it comes to bitcoin mining exward_kaufman01 on IG is the best so far, can’t stop mining bitcoin with him

  31. Thanks this video really helped me this Pandemic period I decided to invest with. My Morris.

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