What is Bitcoin? Bitcoin Explained Simply
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- čas přidán 1. 06. 2024
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Bitcoin is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger called the blockchain, which is accessible for everyone to see.
Bitcoin gives you complete control over your money, unlike other assets you own which are regulated by banks and governments. As bitcoin gains more popularity, more and more places accept it as a payment method.
That's Bitcoin in a nutshell. For the complete simple explanation watch this video, here's what I'll cover:
0:50 - What is money?
3:10 - Fiat money
3:43 - Fiat money drawbacks
4:25 - Digital money
5:34 - Centralized money issues
7:21 - Enter Bitcoin
7:44 - Bitcoin is transparent
9:13 - Bitcoin is decentralized
9:35 - Bitcoin is digital
9:56 - Why is Bitcoin such big news?
11:45 - Who accepts Bitcoin?
12:05 - Conclusion
For the complete text guide visit:
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See anything we haven't covered? Leave us a comment in the comment section below - Věda a technologie
CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers.
Stay safe 🙏🏻🙏🏻🙏🏻
But I thought bitcoin doesn't have problems with fraud the way fiat does?
@@maxazzarello8695 While Bitcoin's decentralized blockchain technology can provide a high level of security and transparency, it is not immune to fraud. But fraud can take many forms, including hacking attacks, Ponzi schemes, and phishing scams. Therefore, it's important for individuals to take precautions to protect their Bitcoin, such as using reputable exchanges and wallets, enabling two-factor authentication, and being cautious of suspicious links and emails.
@@99Bitcoins Thanks for the reply!
Would you consider Tether to be a reputable part of the crypto ecosystem?
My pleasure 😊
Tether is a controversial cryptocurrency that has been the subject of much debate within the crypto ecosystem. Some people in the crypto community do not consider Tether to be a reputable part of the ecosystem, while others continue to use and trade it. Ultimately, whether or not to use Tether is a decision that each individual should make after carefully considering the risks and benefits.
Same here
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million.
..
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Patricia V Vesely.
She's a licensed broker here in the states
I believe Qardcoin token will go 100x after launch on Binance
únete y agradéceme más tarde
únete y agradéceme más tarde
How long have you been in the crypto space?
this btc it melt face in the New york crpyto
agree bitcoin will ascend to the capital throne no matter what happens to the economy!
Exactly, that expression "buy back your time" well thats what investing allows you to do.
Still super skeptical about this whole Bitcoin thing
@@chris-pj7rk Cryptocurrencies are the future of finance. The world is evolving, follow it or be left behind!
@@claradidi7573 The crazy part is that those F.A are probably outperforming the index and raising good returns. I will give this a look, I'm really thankful that i can came across such a conversation.
When the internet goes down, so does all crypto..
BTC for $75K by end of this year& Control
of The Currency is already Decentralised And now the China disruption would simply
Decentralise the Mining setup for the better
The great work
Me before the video: yeahhh i will finally have an idea about bitcoin
Me after the video: danm i still dont get it
Lmao
Same
@@declanbaxter5828 That's a scammer. Click their page.
Same here😒😒I still don't get it
HHahaha this made my day
Finished watching the video and I only have one question…what is Bitcoin?
Is just like money with wings
It's just like money from the casino..most certainly a scam.
Well don't trust in me i'm only a 13 year kid but becareful scammers these days...😂
@@aianna3814 you’re joking thankfully
🤣🤣
A scam for dumb as rocks, smarty pants millennials...
Maybe I should watch this again when I'm not drinkin'.
Lol
All Crypto is a farce; don't mattering your sober or drunk
😂😂😂😂😂😂😂😂😂😆😆😆😆😆😆😭😭😭
@@guduboy6108 Scam!
Won’t make any difference.
Been looking for an understandable explanation - and without the editorializing virtually all other explanations. Nothing comes close to yours. I also appreciate your updates, in the comments. This is an extremely valuable channel. Thanks for keeping it active. I'm on to your other bitcoin videos.
Clearly, this guy is a genius. BitCoin is still a new (difficult) concept to MOST of us, but see this video right here? Comprehensive, concise, complete.
Well done, Nate!
Thank you! *Subscribed*
Hi paradise yuille how are you doing
Clearly this is a con. If I start up a new bitcoin ledger and sell it to dummies it has all of the virtues of the original Bitcoin. So I can start a million of them and hope the patsies don't notice? You've got to be as dumb as a brick to fall for this.
Good you understood better
True
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result hard work and hustle over time. I pray that anyone who reads this will be successful in life
Amen
Brahamen
Amen and you too
Very well put. Rhetorically speaking, may I add the following. The word "successful" is quite a relative word. In other words, my definition of success may not necessarily equate to your standards. Having said that, I too pray that many will ultimately find success in their own way. God Bless.
Class Act Top Man
1 Bitcoin will worth millions of dollars in no distant time, People who ignorantly did not adopt the system will be more poorer. The earlier the better to have and hold bitcoin because it's the future.
Crypto currency and Nfts will outsmart the banking system in the nearest future serving as a global fiat. Already making over 85% profit from my current investment
Bitcoin is the future, investing in it will be the wisest thing to do especially with the current status
You are right but the market is profitable if you are using a really good platform to help out with trades
Yes you are right! Bitcoin trade is the best investment anyone can ever imagine and the profit is huge, believe me this is the best time to invest in it based on the current market status
@@jamesmark8608 I recently heared about the NFT thing but still don't understand how these benefits people or how the NFT buyer's uses such digital arts.
0:55-What is money?
1:08-How money was used in the past?
1:48-How paper money was invented?
3:43-Drawbacks of paper money?
4:27-How digital money came into existence?
4:50-The problem with digital money
7:22-Why bitcoin is used?
10:02-Advantages of bitcoin.
Thankyou so much! 😅
👏 amazing
Thank you 😊
At the end of this video, i can safely say....im still in the 99% of the population..who are clueless.
And I can safely say that I, too, am not so much as a single percentage point wiser.
I'm relieved I'm not the only dumb ones🤣
Not so clueless now..but certainly not anymore confident in it..8n fact the more im understanding it..the less confidence i have in it...i think many want it to be true...
Bitcoin is very profitable but if you don't have any club on how to earn it better you stay off it because you might lose a lot of money
@@michealtucker6360 what high IQ do you need..you buy some bit coin..you wait for price to go up..you sell ..basically l8ke the stock market...i understand it..dont trust it long term..and dont believe in these schemes...whos the loser..for someone to get rich..someone has to get poor..
I had 4 tears of economics classes in college, and this is better than any class/lecture I ever had. This guy explains it thouroghly.
Do you mean 4 tiers?
Saving Bitcoin is not a bad idea but trading Bitcoin earn you more...I have lost over 20k Worth of Bitcoin with the current dip
Despite the economic crisis and the coin dip,this is still a good time to invest in Bitcoin trade
It's possible to produce superior performance provided you do something different from the majority
That's an awesome idea,a good trading system would you through many day's of success
Mind blowing in 2021! Why didn’t i see this in 2018 :((((
Peoples will be saying the same about now in 1,2,5,10 years time 💡
Mind blowing in 2025! Why didn’t I see this in 2021? :(
So many people have youtube title to explain, what is bitcoin? But only you explained well. Thanks alot man.
Keep up your good work
Cyptocurrency is the future money. Follow mr flanmustelafu for tips on how to trade
Cyptocurrency, also if you wanna trade with me. here he's is email flanmustelafu@gmail. com
@@oliviadaniel1607 I see the great potential in bitcoin, example you are in an airport and security guards cannot attempt to steal your money.
Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.”
thank you very much. IN BITCOIN WE TRUST.
Awesome video! I like this channel cus it is straight forward with it's content and broken down in plain English. You got a new subscriber ⚡💪
I, like many others, were confused. However this video helped me immensely. For those of you still confused, bitcoin is another form of currency for us all to pay for items. It opens up transactions worldwide using the same currency...a bitcoin is a bitcoin is a bitcoin. While it is interesting concept, the worldwide acceptance of bitcoins is, in my opinion, a difficult hurdle.
Ah i understand now.thank you
So it's like I can use bitcoin to buy whatever I want like from other countries
You can use it worldwide
“Bitcoin price keeps increasing exponentially”
Me: *buys bitcoin*
Bitcoin: well now I’m not doing it
Yes
Right that’s how I feel about it
It's the natural cycle. Just hold it. Years from now you'll see.
Just go back through the years to look at the natural cycle.. it will go back up. It's much higher than it was a year ago
Try converting it back to cash. Reports I’ve heard is that you can’t
@@matthewburgess5034 😂 idiot
I’ve started looking into bitcoin recently and as I can’t beat myself up too much because I was only 16 when it first started I’m definitely going to start getting into it and this video has been a really really awesome explanation. Thank you.
You must be an economics teacher because that’s the most simplest explanation I ever heard
I am not shy to admit that I am one of those people caught in the 9-5 trap, waking up every day to slave away on someone's achievements. My ultimate goal is an escape from this which is why I am exploring a lot of options like mutual funds, stocks and cryptocurrency investments.
I don't know much about these topics but I'm willing to pay 100% attention to any one who can teach me at least one or more.
I'd like to know what kind of investments you make and how you go about them if you don't mind.
a lot of people are even in worse situations than the 9-5 trap, some depend sorely on food stamps which is not provided in so many other countries and a lot resort to harsh lifestyles to survive.
I've been through a lot of investment journeys, some really great and others 🚫.
But for the most part the most profitable in a shorter time frame was cryptocurrency and forex investments, they kept the income coming in all through the year.
"Don't worry if you know nothing about bit coin, at the end you will still no nothing, but no need to worry about it"
Learn the different meaning and proper grammar useage of the word no verses now verses know verses canal. Hooefully, you are more confused.
@@terrywix6844 lol, little gramamamamar bitch
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.
The rich spend money to save time while the poor Save money to spend
Great video! Some key points were highlighted that I hadn't heard anyone else discuss. Thank you!
I am new to cryptocurrencies such as bitcoin, but I am very interested and curious to start investing in it, although I do feel this is kind of late now. Can anyone tell me what I need to do?
Yes, you can start an investment, There are many reasons to invest in Bitcoin after understanding the market and risks.
Investing in Bitcoin is the number one thing one should be doing right now, although there are lots of risks the best way to invest is through cryptocurrency and Forex.
There are also organizations that help maintain your interest and protect you from the unnecessary risk which you can't predict on your own.
It's not too late to invest. Though cryptocurrencies are getting more volatile. This means you should only invest with companies with professional traders and a guaranteed level of return.
Forget crypto. It's an idea, not a product. It is not backed by any security such as gold. It is not backed by a government. Once again, it is only an idea.
Buying into crypto now is paying way too much for an idea.
Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.
@@jadenhelms9205 yeah I got some Bitcoin to sell out making millions
This is an awesome explanation. I think the reason why it is so difficult to understand what bitcoin is is because many don’t understand what it means when money is described as “centralized” and you explained that very well. I finally understood it thanks to you! :)
can you help me out? So for example if i were to buy $1000 worth of bitcoin and for example lets if it were at 30k and then bitcoin went up to 31k. How much would I of made in us dollars you think?
@@Brutal858SD if I’m not mistaken, you’re bitcoin would have become 1033.33 usd worth by then, so you’d have already made 33.33
@@Brutal858SD
You would make 1/30th profit. You are already exchanging its value to say it is 30k up to 31k.
I would be cautious of buying it with real money as it is very volatile right now. Also be aware of scams, be sure you know the service you are using is safe.
-- OOPz late reply. Thought I was on most recent comments :$
Lies again? Bet Clic
@@NazriB I think you don't know about btc investment
Been trading crypto since 3 years ago, now I really understand what Bitcoin is and how it works... Very insightful.. thx
Nate, thanks for this awesome introduction to Bitcoin! Your ability to explain complex topics in plain English is truly appreciated. I'm excited to dive deeper into this series and learn more about how Bitcoin works and its potential impact on the future of money. Keep up the great work! 💰🚀
My pleasure!
Very interested
correct me if I'm wrong, I think you forgot to answer the most important questions:
1- who issues the Bitcoin ?
2- who decides its value ?
many thanks.
Yes, it's all just TOO anonymous.
@@royfearn4345 ok control freak. You deserve to lose all your value by supporting the gov money.
Miners issue it until 21m cap reached. Value is decided same as anything else, whatever you can get for it based on supply and demand
3-WHAT exactly backs it up? (like paper bills are backed by govt.)
It's like a stock market exchange sometimes when the market is bad it's falls and when it's good it goes up. Dr
WoW! Amazing! Thank you very much for this kind of explanation! More than 10 people tried to explain me this but they couldn't, you did in 12 minutes. Thanks man! Subscribed immediately and heading to the next videos.
If you are interested in bitcoin I can help you earn that amazing profit you desire because I use the most sophisticated bitcoin and cryptocurrency mining machines and personal developed analysis intertwined with my wealth of experience which enables me earn huge profit and that is guaranteed
Same
Great simple explanation. Great job
Loved it! I watched a lot of explainer videos about Bitcoin and none of them explained it so well. Thanks!
what is Bitcoin ?
Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.
@@vivianlongman2774 wow😮
@@haroldbrewer1121 thanks
There is a factor that can effect the use of bitcoin... if my power goes out, or if the internet goes out, I can no longer make transactions. So, if bitcoin were to become the new way to buy everything, those issues would need to be addressed.
Hi @Mekaneckpain,
You bring up a valid scenario. Cold hard cash will always have a place in our lives. In such an event of power getting knocked off the grid, banks too would be affected, right?
Unless they have backup generators. Coin miners also tend to have backup generators to ensure they keep running even when power is cut off from the grid.
Yeah sure, it definitely needs to be addressed
@@BernieDoran-cl2gk the quick and easy response is centralizing by making a bitcoin denominated bank that issued physical receipts backed by the token.
Wow this guy explain everything in one video which i learn in 4 years in a college...
Is basically introduction by presenting the name and than, comunication on Bitcoin using the 4 P´s and economic language
Nate, millions of people need to learn about Bitcoin and how it functions. All it takes is a little motivation. I'm overextended in Bitcoin and Crypto, and feel this is the smartest thing I've ever done in over 50 years.
As I'm no expert in this, I will use my time to explore and educate myself before diving into Bitcoin. Thanks for starting at the beginning and taking the time to help potentially millions of people get out of the banking system who only use our money to get richer. Eventually money as we know it will have no value
I started trading Bitcoin months ago, I have already made over $250,000. I wish I knew this sooner, I would have been a millionaire.
We are going to cover a lot of topics today. Sure in 12:48. Certainly didn't explain how Bitcoin is manufactured, only how it can be used.
As a 61 year old retired business and finance manager, I understand it fairly well now. But I'm seeing a drawback. As it is digital and all transactions are digital, then if we were to have a power outage or worse a solar flare that shuts down the grid throughout the whole world, then what are we to do? We need a backup or contingency plan for when transactions are impossible.
That is also true for the banking system though. In the case of "digital is blown up", everyone will suffer.
Invest not only in money but in items who people will seek like , grain , honey , alcohol, medicine… if the economy ever goes down trades will be the new way of money
The comfort level is that the shutdown would have to be global, since the information is so decentralized. As we saw in Texas last Spring (2021), a breakdown of the grid could affect local activities, including banks, but it is a lot harder to shut down the whole world. Nevertheless, there may be an opportunity to create a back up - could be your next company! All the best
@@power_of_many to create a back up for everything and anything it’s the best investment
Yeah man what if a fucking meteor hit earth and killed us too…
Worrying about btc when the whole world is out of power is a bit ridiculous
Makes so much sense and to know someone in a third world poor country can make more then someone in a wealthy country is truly "Priceless". Globalization is finally here! Thanks for the information.
If you are interested in bitcoin I can help you earn that amazing profit you desire because I use the most sophisticated bitcoin and cryptocurrency mining machines and personal developed analysis intertwined with my wealth of experience which enables me earn huge profit and that is guaranteed
I must be as dumb as a box of rocks. I still don’t fully understand.
The only part I got was “everyone trusting the government “ That’s the funniest thing I’ve heard in ages.
lol. Try watching again
@Alright Alright Alright Bingo. Intelligent people are good at figuring out exactly HOW MUCH they need to know and realize that there is no way they'll know everything about anything.
I feel the exact same.
@@Octopussyist right!
its an alternative to money with lower costs
I trust bitcoin even less after watching this video. Thanks, very informative.
Why
Whats your logic here? If anything i trust tradicional banking less
@@moatazabdslam4393 what is more investing bitcoin or gold?
@@jeffreestar4022 I think bitcoin because I have been at advantage ever since I knew about bitcoin investment
@@jeffreestar4022 btc is a bit risky unlike gold , but gold gives lesser profit than btc
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in June 2022
Wow!!! What a beautifully explained video. I'm new to the crypto world and this has definitely made me want to learn more. Thank you so much!
Welcome aboard!
I shared “What is Bitcoin? Bitcoin Explained Simply for Dummies” with some of my friends and family. It really is a great video for people who are new to the crypto currency space and doesn’t really know what Bitcoin or crypto currencies in general work.
Actually this whole channel is great for beginners that want to learn more about the basics.
Edit: Please ignore the replies below my comment. It is spambots posting some scam.
I also have been using Mr alec payden's services for a year and half now and its been great pleasure watching my portfolio grow in his care.
I learned years ago that if you don’t understand a financial product fully you shouldn’t get involved with it. What I do understand about Bitcoin is that it has counterparty risk. That along with the fact it is far from clear how it really works, (as many comments on here confirm), puts me off getting involved with it for the time being.
I learned that you don't have to know how a car engine works or that you don't have to be a mechanic to buy and drive a car. That said, go on and take a small risks like you did when you bought your car and buy Bitcoin and enjoy the benefits you will reap from it in the future. Or you will regret and wish led you had bought some. Enough said. 💯💯💯👍👍👍
@@alpha2957 that is not a very good analogy at all.
Its proof that it is only good for those that invest. The poor will always be poor and deservably so. They will never understand. Investing like this is not for fools.
But with a car, there are BILLIONS running around in the road all around the world that we see with our EYEBALLS. Or ride in them. The proof that they work is there. So we trust them. Not HOW they work.
Thanks for the info. Am thinking abt purchasing some but am alittle curious to kn first
Thank you for spending the time helping to educate dummies like me - it is very much appreciated.
Two questions if I may:
- you talked about the advantages of Bitcoin, but what about the disadvantages; and
- how do you establish or go about assessing the (theoretical?) value of Bitcoin? You said that the US dollar, for example, is based upon trust in the US government.
Thank you
Those are some high quality questions you have! Please update the answers to the brilliant questions here when you finally found them. Thank you.
@@chewfuling tag me too if you find the answers!!!
thanks!!!
The biggest disadvantage of using Bitcoin as a form of currency I can think of is how its transactions are irreversible. You won't have any authority or centralized system to dispute your transactions with if something happens. Other than that, it's more secure than money in your bank and more merchants already started accepting BTC as payment. As far as the disadvantage of investing in Bitcoin or acquiring Bitcoin right now is the value fluctuation. The theoretical value of Bitcoin cannot be determined I guess until the market is capped. As long as Bitcoin can still be mined and added to the circulation, supply and demand will determine its current value. Remember, US dollar as a currency is established based upon trust in US government but its value is determined by supply and demand. US government just has the ability to print more money if they want to, which can affect supply and demand. There is no limit or cap for US dollar. However, Bitcoin does have a limit at 21 mil. In my opinion, its final value will not go below 38k due to big corps like Tesla and MicroStr acquired large amounts at that price.
Me too !
Hello
One big question you failed to address...what are the disadvantages or risks of bitcoin?
thats what everyone who pushes crypto does, they dont tell you everything, they just want to push it.
@@CaptBanger people can still steal your money as long as its not in a personal purse, also ive had it where the app where i bought crypto from kept selling my coins on me, putting sell orders when i never put one in.
Lesson 1 is good... will watch the others as well. You explained the basics of "money" very well and in a simple, understandable format. Thank you.
Hello dear ❤️
I'm new to stock market /Crypto and would like to invest but I've go no idea on how to make good profits. Pls what's the best approach you'd recommend?
I will enlighten you on how to trade and earn while trading
Inbox me to learn
Awesome. Just finished listening and taking notes. Thank you Nate!
You are welcome Danelsia
*Your skills show why an old teacher is the best teacher there are plenty of 20s young guys doing tutorials but their material is half cooked. You spoke at length but the end was a climax 👍🏻*
Now I'm really confused I thought our climax was when a woman had an orgasm
@@skullyjack7678 Are you saying climax is an adjective reserved for sexual activity 🙄
Well I guess depending on what generation you're from would determine on what your peers used the word in reference to the most but I was just joking as the word by definition can be used in many ways and terminologies
But I never said reserved for sexuality I use it in reference to sexuality but good try
Not only I can learn about Bitcoin from you, but I'm also learning advanced financial concepts in a simple compressed and comprehensive language. Subscribed!
Are you looking for a well trusted site were you can invest Bitcoin and earn more of your investment? *CRYPVEX* is the right place to invest, I'm a leaving proof I invested $2500k worth of BTC they min and I got paid don't wanna keep this all alone.
Fantastic explonation,thank you for educating me
This is actually amazing. I feel like all the hate comes from the everyday person who simply doesn't understand what bitcoin means
I think, as an absolute novice, that the emotion I'm feeling is frustration, not hatred. I'm frustrated that, although I'm getting a clearer understanding of the bitcoin concept, I'm still a long way off being able to actually get started; to start taking part. I'll keep watching and learning. If I could afford an in-person mentor, I would hire them immediately.
Whoever reading this you will get everything you want in your life and never give up your dreams, you are in this world for a reason!
You pretty much explained why the Federal reserve is a criminal
They are. And they are about as “federal” as Fed Ex. Read End the Fed by Ron Paul.
I am head of your nice Federal Reserve......and I have just confiscated all your bank accounts and credit cards........OK?
never took an economics unit hey big fella
So true
Correct me if I'm wrong but I imagine why they're going after Binance and Coinbase is because they're basically becoming banks in of themselves. Crypto is supposed to be decentralized, but these institutions are centralizing it and are by default becoming like crypto banks.
I can enlighten you on how it works
this guys voice is great
One of the best explanations I have seen on bitcoin. No other CZcams video has come close!
U got urself a new subscriber 🔥
Thank you very much sir..........i understand a little more than before.........
Thank you for a clear, concise, and understandable video. You should be teaching a basic economics course! I think a lot of people would benefit from hearing your wondeful explanation of inflation
Wow, thank you!
Fantastic work, Nate! This has been shedding light since I have a lot of questions about Bitcoin. I am 2 videos in but I love how you make the terms easier to digest to the average user.
Liked and subscribed.
LET'S TALK 👆👆💬 Comment appreciated we can communicate through the above contact please$$,
Since I have invested 200.00 in bit coin does that mean I own some Bitcoin?
This has been the best explained bitcoin video I’ve seen yet. Thank you. Liked and subscribed.
Despite the economic downturn, l'm having the best time of my life financially. Earning over $120k in the last 2months with an investment of $20,000. Money can be made even in a bear market. Make the most of it.
Wow i have not heard Bitcoin as well explained as this. Thank you for making this available to us.
You're very welcome! I'm glad to hear that you found our explanation of Bitcoin helpful.
Can a property in Spain be sold by Bitcoin only including all payments to Estate agents solicitor and the rest of them? Liked the videos content information.. Want to learn more about it.
Hi, thanks for your video. I'm wondering how relevant this information is? Thanks
Great explanation. Looking forward to all your other ones. I'm holding 1 coin but still.learning as I go. 👍
Very very we’ll explained indeed. Could you help me understand why is Bitcoin or any other crypto currency pegged against the US Dollar or against paper money which is centralised
Nate, very helpful, thank you very much. Subscribed!
Awesome, thank you for your support!
@@99Bitcoins Nate, the next video goes much faster and assumes words/phrases known like, " the lightning method" are known and they are not. Did you know that to get a written transcript there is a link below in that video that takes you to a paid CZcams subscription... while i think you should be paid giving us ways to understand you is part of that service to the world it seems that you are doing. oh but there is more and it is worse than that, there is a link for the "free video "transcr[pt" that then asks for your email address. Now, as I believe your teaching has value and you deserve to be paid for it, you might want to look at the guy who is piggybacking off you..
Please share the link to that video via DM here -> web.facebook.com/99bitcoins/
Thank you )
I had to watch this a couple of times to let it sink in. I'm finally getting it....thanks
Here's a tip.......drill a small hole in your cranium.......then, next time you view it, it will pour into that hole........PS. I am a certified brain surgeon who has a dandy drill in hand.
U can earn Bitcoin free, lemme guide u
OK, I understand how it works technically. But how a currency that basically had no value to start with can gain so much value is still not quite clear. Or at least doesn't seem stable.
Bitcoin will still bounce back its just a matter of time, if you have the opportunity to invest it's cool because you making enough profit before the rising of bitcoin your wallet will be full with much dollars
The value of any coin comes from 1. Scarcity and 2. Utility.
1. With bitcoin there's a finite amount (26 million) in existence (compare that to something like gold which we don't know how much actually really exists surely and if they discovered gold somewhere in abundance whatever gold you have will basically reduced in value)
2. Its value is created by how ease of transaction it is compared to money without a third party (basically it's like exchanging cash virtually in real time) and it's decentralised model. So value comes from how many people dip into it because of how much belief people have in it. If you believe in it, you buy it and it's value increases (reverse is true similarly)
Hope that clears it up for you :)
@@The-bi5ry Exactly. So when ONE SINGLE COMPANY announcing that it will no longer sell against BTC can make the value drop 30% it becomes pretty clear that al lot of people either misjudged the factors utility and scarcity or simply didn't pay any attention at all.
And now they are whining and blaming Elon MUsk.
I sort of understand now
Yes. really good information
I’ve been looking for a good, simple explanation of Bitcoin to send to my Dad and Father in Law, as a I find it hard to explain. I looked at a few other videos before this one, but this one is the best I have found so far. Thank you for making this video.
Hi
The pizza part, I paused the video and think about my life choices....looked up at the sky and shake my head, than I came back to finish this video 😔
HELLO
@@bitcoinliz7726 HELLO
Thank bro its very useful I learned something here
Great explanation!
It can be said a little simpler, if you want to be rich then focus on saving and investing, if you want to be poor then focus on spending
The video isn't about getting rich, it's about understanding crypto.
what the fuck are you smoking?
Very nicely explained. I haven’t understood Bitcoin a lot but the evolution of Bitcoin and what it is trying to replace is very well explained.. subscribed!!
Thanks for watching!
Do you know that you can earn more than $10,500 weekly and more than $25,000 monthly in trading bitcoins with a suitable and well guaranteed platform broker without doing anything stressful?
Absolutely brilliant explanation, pleasant to listen to and very informative. Well done, keep the good work up.
Thank you so much for your kind words!
Ooops
As a newbie about to invest, you must have these four things in mind
1. Have a long term mindset.
2. Be willing to take risk.
3. Be careful on money usage, if you're not spending to earn back, then stop spending.
Great video! I've always wanted to understand this topic and I'm pretty sure that I've found the right place to finally do just that. Thank you.
This was EXTREMELY helpful. Thanks 👍
Thanks for yr valuable information.
Such an excellent explanation... completely understood it!
2 pizzas 10k bitcoins, damn that guy is killing himself.
Yeah pretty sure those pizzas have lost their value
DENT Now 250 times lower from its previous ATH, Sleeping Gem 1dolar is our Target 2021 !!!
He must be on Twilight Zone Now 🤪
Now worth over 570,000,000
@@Slothanacoin007 That’s the attitude I like When the all time low hits we’re going like mad dogs
Thanks for taking time to explain but I still don’t understand. You have a new subscriber 🙌🏾.
Thanks for joining us! Your comments and questions help us continue to provide helpful info about cryptocurrencies.
I still don't get it. Some entity has to have oversight.? Money in the bank is FDIC insured up to 250k per account. What if a problem arises with a Bitcoin transaction, then what? You have nobody to call for support? Just like Cashapp. Lol.
@@gypsygirl9 what do u mean exactly by " a problem with bitcoin transactions." I'm still new to bitcoin, but from my understanding, if you want to send a bitcoin to someone, you need their bitcoin address. I am not exactly sure what you meant by transaction problem, could you please go more in-depth?
@@gypsygirl9 if you don’t understand you can inquire more from professional like myself
I really love the way the explanation was made.
Great Into!
Very good explained ! I really like your speeching pace and your clear pronunciation !
Y'know, I never quite realized how confusing the concept of money alone is until I watched this. Really it takes getting your head around that to understand how bitcoin works.
Ohh, and thank you for the video, good explanations.
YET Bitcoin probably has warehouses full of peoples money 💰 and we still broke as hell.
Tell me you don’t understand crypto without telling me you don’t understand crypto
Excellent explanation i learnt a lot even about the importance of decentralisation
So well written and presented! 👍🏻
Thank you kindly!