What is Bitcoin Mining? (In Plain English)

Рет қаралды 3,746,270

Күн бұрын

Start trading Bitcoin and cryptocurrency here: bit.ly/3s78w1u
Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as the blockchain. Mining is done by running extremely powerful computers (known as ASICs) that race against other miners in an attempt to guess a specific number.
The first miner to guess the number gets to update the ledger of transactions and also receives a reward of newly minted Bitcoins (currently the reward is 12.5 Bitcoins).
Today, in order to be profitable with Bitcoin mining you need to invest heavily in equipment, cooling and storage. It’s not possible to mine profitably with a PC or a GPU at home. You can calculate your profitability using a Bitcoin mining calculator.
0:20 - Bitcoin mining in a nutshell
3:13 - Mining difficulty and block time
4:22 - Evolution of Bitcoin mining hardware
6:30 - Bitcoin mining pools
7:24 - Is Bitcoin mining profitable?
10:41 - Other types of mining
13:14 - Frequently asked Questions
15:20 - Conclusion
For the complete text guide visit:
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Join our 7-day Bitcoin crash course absolutely free:
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Learn ANYTHING about Bitcoin and cryptocurrencies on our channel:
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See anything we haven't covered? Leave us a comment in the comment section below

Пікірлер: 3 600

@lonestarr1707 4 жыл бұрын

Ok now I need to find a video that explains this video

@idkman1195 4 жыл бұрын

@@bashxmlong6707 dont, please dont...

@bashxmlong6707 4 жыл бұрын

I'm new to this

@joselolara2980 4 жыл бұрын

😂😂

@RE38B0 4 жыл бұрын

😂😂😂🤣🤣🤣👌🏻👌🏻👌🏻👌🏻👌🏻👌🏻👌🏻

@adriankasa4339 4 жыл бұрын

😂😂😂

@Shemdoupe Жыл бұрын

The difficulty adjustment is so freaking genius

@gtbsaraiva 7 ай бұрын

The whole system is very clever, but the dificulty adjustment system is really a genius idea

@sandeepozarde2820 3 жыл бұрын

Quick questions: 1. Why do miners need to solve complex computational math problems? 2. Who create these puzzles? 3. For whom they are solving these maths problem? - it’s like I pay money to buy Pizza, here am solving the puzzle but why? Why puzzle? 4. Creator of puzzle will get what? 5. Is there any intrinsic value attached to crypto currency? or it’s all notional? - we still need fiat currency to buy bitcoins right? like to buy gold you need fiat money - same fiat money is used to buy bitcoins right? then what’s the difference here? it’s like buying a property or gold, now we have digital money, but I cannot buy bitcoins without fiat money.

@designergoose1938 Ай бұрын

Why

@rosenskietolentino8420 2 жыл бұрын

Now this is probably the best beginner-friendly explanation out there, kudos to your team

@stonerstation9159 2 жыл бұрын

Buy a computer and software then letting it do its work.

@tjedwards4254 3 жыл бұрын

I'll never be sober enough to understand this.

@SUA37 3 жыл бұрын

😂 funny comment

@claracummings7959 3 жыл бұрын

Lol

@lowercaseguy3578 3 жыл бұрын

Then I might be extra special to understand this video . My programming degree paid off

@TaylorOriginal352 3 жыл бұрын

I feel ya I have no idea I still cannot understand why was this a thing

@josesosa3045 3 жыл бұрын

your dumbass wont understand this sober if your stupid enough to waste money on drugs xD

@johnstanley7874 3 ай бұрын

Watching this in 2024. Bought 2 Bitcoins in 2015 for $250 USD each, paid for a lakers game with 1 bitcoin, couldn't be bothered to use the other.. glad I forgot I had it till 2023,

@hbspxjihuhcd Ай бұрын

No way bro.😭😭😭🤝🏾

@mndnmne 2 жыл бұрын

It is utterly amazing that this has monetary value

@planetkaren4243 2 жыл бұрын

Me : watched the entire video carefully Also me : wait what ?

@barbarachambers7974 2 ай бұрын

It's why I will watch 10 times... Or more.

@faizaniqbal1683 4 жыл бұрын

I wish that some day I could talk so politely like him.

@thomaspick4123 4 жыл бұрын

You can. Practice. Use polite words. Have a calming voice for your audience.

@maxsobeshchuk8954 4 жыл бұрын

😂

@Mokong3215 3 жыл бұрын

Hello

@clyne-automotive8537 3 жыл бұрын

Speak, not talk. Books are a good start.

@christianfisher1484 3 жыл бұрын

How does this get 374 likes?

@googleuser1043 2 жыл бұрын

Instead of counting sheep, I will just watch this to fall asleep.

@thommysides4616 2 жыл бұрын

lol

@Ayesha69420ohno 2 жыл бұрын

😂

@greenettmacheke98 2 жыл бұрын

😂🤣🤣

@Ali-oi2wx 2 жыл бұрын

Literally what I did lol

@bok0219 2 жыл бұрын

hahaha

@JimmothySmantanseleton 3 жыл бұрын

I mined a coin yesterday 👍 good luck fellow miners

@ZomboidMania Жыл бұрын

So basically your set for life

@JimmothySmantanseleton Жыл бұрын

@@ZomboidMania you’re

@franchic9565 Ай бұрын

"It might be more profitable to just buy Bitcoins instead of mining them". My thoughts exactly. Brilliantly explained video about the truth behind the idealistic dreams of gain. Thank you.

@athanasiosgalanis5854 3 жыл бұрын

Michael scott: explain it to me like I'm 8 years old: Michael scott: ...... explain it to me like I'm 5 years old

@matt_ccw470 3 жыл бұрын

That’s what she said

@katapascott3571 3 жыл бұрын

Do you wanna invest or generate

@rehpic2606 3 жыл бұрын

yes because Michael Scott is now farming Bitcoin!

@TowDow3 3 жыл бұрын

explain to me like i 2 old lol

@gabbishleegifted4752 3 жыл бұрын

“..Your mommy and daddy gave you 2 GPUs from Nvidia specifically designed for mining” ... “next year....” 😂

@lamarlamar2413 3 жыл бұрын

Im learning bitcoin through this guy, when i was confused as hell on other utube videos, thanks man.

@currencyprofits 3 жыл бұрын

What was there to be confused about?

@robertbanks8044 Жыл бұрын

All I have to say is thank you 🙏 for the feedback

@user-to8eq5iw4s Жыл бұрын

Bro I loved this video SO MUCH. I really hope you do more

@nikopikox 4 жыл бұрын

You have a serious knack for speaking and presentation

@chriswu9499 3 жыл бұрын

how are you?

@tebohomofokeng6767 3 жыл бұрын

😂

@nikkitalbot-jones9633 3 жыл бұрын

RIGHT?! I love the way he explains and speaks. I was kind of blown away by his professionalism.

@emilyscottmartin553 3 жыл бұрын

I tried listening to what he's saying but it was so well spoken I ended up falling asleep

@vhawk1951kl 3 жыл бұрын

To which end there is a very simple method

@VelociPurchaser 3 жыл бұрын

This entire series is probably the best explanation of the subject material.

@3umphbywill313 2 жыл бұрын

I've watched mind you, two videos from this channel thus far. The first was, what is Bitcoin and the second is this one here. Has anyone seen the movie Indiana Jones and the Raiders of the Lost Ark? If so, do you remember that scene when the nazi's face liquified? That's what's happening to mine right now! BECAUSE I STILL DON'T UNDERSTAND WHAT THE HELL HE'S TALKING ABOUT!!!🥴😵🤮🥵🤯

@charleslapson5219 3 жыл бұрын

The amount of time we spend believing we can't is more than enough time to learn how you can. - my Brain

@kelvinkamau7999 3 жыл бұрын

Bars

@albert_the_cool8092 3 жыл бұрын

@@jasminewolf4519 stfu scammer bish

@yifeizhao5311 Жыл бұрын

The god's preaching for Bitcoin mining starters. Thanks for the energy devoted to making this precious video.

@danielsky7128 2 ай бұрын

The potential for wealth creation is within your control, as money has a certain energy that can be attracted. By taking action and following specific instructions, you can harness this energy to your financial abundance. To learn more about these steps, simply DM and I will provide guidance at no cost.

@Ben3654 2 жыл бұрын

This is thee best video I found on the topic. It's weird that people didn't get it only because I think the silly cause was the terminology.

@nothosaur 3 жыл бұрын

Question: How is a bitcoin created? Answer: When a computer solves a math problem. Question: Who wrote the math problem? Answer: __________________

@IDK-kv8ob 3 жыл бұрын

For real. If I had more time to care I'd dig deeper but I don't.

@fullemptiness 3 жыл бұрын

Typically a known and well-designed algorithm, designed specifically to generate a fixed space of random and complex numbers that fit certain criteria, the only way to guess a number is walking through all possible numbers until a number is matched, and due to the complexity of the algorithm, guessing a number with the help of current computers might take years... Think about a password like "Aj&5-7xd?Hop‰>;4*32" How much time needed to guess it given the criteria of the complex password (capital and small letters, symbols, numbers..etc)? It might take years! If you know little math you can read about RSA for example to understand how cryptographic algorithms work in general. * I don't know about cryptocurrency and how it works in detail, so my answer may not be 100% correct with cryptocurrency.

@nothosaur 3 жыл бұрын

@@fullemptiness So, there is a computer scientist or mathematician out there somewhere who wrote an algorithm that creates a random code number that is very difficult to guess. Does that person have access to the computer that created the random number? If so, then he can access the answer, correct?

@AllanDavisArt 3 жыл бұрын

Alan Turing has entered the chat

@fullemptiness 3 жыл бұрын

@@nothosaur no, it's very complex even to the one who created its algorithm.

@quokkapirquish6825 3 жыл бұрын

Should’ve added: “And finally, it may be more profitable to invest in making videos about Bitcoin, or writing stories about Bitcoin and selling shares in the media company you’ve created than mining the Bitcoin itself. Depending on market factors, of course..... The world is turning into the matrix before our very eyes

@XFTP5150 3 жыл бұрын

Yeah shit is getting 🍌

@h.n.r_funi3324 3 жыл бұрын

Yeah shit is getting banana'ed

@karterkloud6531 3 жыл бұрын

Doesn’t sound appealing at all

@ChequeBlinks-xi9vo Жыл бұрын

This video makes me to understand it better thanks a lot 🙏

@rabask9226 2 жыл бұрын

Thank you for the explanation, it was simple, clear and in a logical order. Well done!

@TBLiov 3 жыл бұрын

It made me happy to see that I'm not the only one who didn't understand what the heck he is talking about! 😏

@tashabaibhavi5408 3 жыл бұрын

I m happy tooo

@gmailtwenty4 3 жыл бұрын

😂😂

@runguys8304 3 жыл бұрын

Cool

@00Iza00 3 жыл бұрын

Check out cold fusion... His vídeo makes sense

@slickxbt 4 жыл бұрын

This is the video I was looking for to explain this to my dad. Great video!

@jenniferjoseph9206 2 жыл бұрын

To anyone reading this, remember Rome wasn't built in a day. your hard work will pay off

@aklh7427 2 жыл бұрын

Aw that’s cute

@robertweaver5737 9 ай бұрын

Thank you for all your guidance! It's amazing boost in the investment theme

@99Bitcoins 9 ай бұрын

You're most welcome!

@bouncyboxer 3 жыл бұрын

Thanks - you have a knack at oversimplifying complicated concepts. It's a gift - I really want to be able to do that. I'm starting that by trying to explain these concepts to my 10 year olds - if they get it - I'm good.

@premiere3610 3 жыл бұрын

Wow thank you for the honesty in explaining everything of mining bitcoin

@user-ev6fq6tm5g Жыл бұрын

Truly one of the moment of all times

@thechindiantrader 2 жыл бұрын

thank you. finally know what "mining" really is in cryptocurrency. is 2022 now, pretty sure mining btc is hard, i think mine other good alt coins will be better.

@waynedavide7711 Жыл бұрын

Can we know each other!

@yasanparto 4 жыл бұрын

Best video I’ve found so far on bitcoin mining. Explained the concept and answered most common questions in the most concise manner possible. Great work!

@odigidawuchukwuyenum5472 3 жыл бұрын

Yasan Parto if you want to know more and gain more on signals follow samuraiarmy627 on insta and invest, I made 1k usd in 6days thanks

@tineeashmon9223 3 жыл бұрын

This let me know, I don't speak English and my comprehension is wack

@modoochris5824 3 жыл бұрын

Hmm So interesting! Been thankful for Bitcoin since the very start! Grateful

@jonresanovich154 3 ай бұрын

I am very impressed by your videos. You are doing a great job of explaining to where it’s simple to understand. Thank you very much.

@99Bitcoins 3 ай бұрын

Glad you like them!

@abrahamofek4485 2 жыл бұрын

Thanks, it was the most enlightens lecture so far

@Dan-kh5ll 3 жыл бұрын

I know this is an older video but all of your videos are so helpful to me. Thank you!

@XFTP5150 3 жыл бұрын

I bet the mining is poppin now

@aja790 4 жыл бұрын

Whats bitcoin mining, "the process of updating bitcoin ledger transactions onto the network incentivized by the rewarding of new bitcoin." The most comprehensive and succint definition ive come across. Thank you for these series of videos.

@lifeemusicelife112 3 жыл бұрын

What a fantastic video, 15 mins cleared up months of confusion. Great job!

@skelibeeposh4160 Жыл бұрын

Hello

@varideasfitidea 2 жыл бұрын

with all the difficulties explained here, so is bitcoin worthy? since it's decentralised, seems like no authority control this. Also i wanna know if Satoshi own the most bitcoin?

@ande4455 3 жыл бұрын

No wonder this hasn't caught on yet-I haven't even begun to master the extensive vocabulary!

@bitboycrypto680 3 жыл бұрын

@moayadyaghi 2 жыл бұрын

Great and thorough insight on crypto mining. Thank you!

@Sunny-hv7pt 3 жыл бұрын

This is great but...why don't you explain this to me like I'm five? 👀😭😂

@ee2048 2 жыл бұрын

it isn't a subject for 5 year olds, this video does a great job explaining it

@paualmini 3 жыл бұрын

oMg, i finally understand what this mining is. thank you so much for such a crystal clear easy to follow video!

@farahnissa8018 3 жыл бұрын

So.. who formulate the equations? Who generate this all?

@rrestoring_faith 3 жыл бұрын

Like the inventor of bitcoin? You can google that. Or do you mean the hash function that is used? Bitcoin uses SHA-256

@Noobmaster2 3 жыл бұрын

I can keep listening to him for years without taking a break. He is great n polite.

@double-you5130 2 жыл бұрын

one critical focus that is missing from here and the main website is the *reason* why the "Proof of work" is important. Why is there mining? What purpose does it achieve? How does it help give 'validity' to the currency. This important area should be explained as a general concept

@jamesbob8401 Жыл бұрын

Crypto is gaining momentum in the payment space as well, with Mastercard, PayPal and Visa increasing crypto exposure over the past several months. 凸

@ridakane1375 Жыл бұрын

Far more money has been lost by inwestors preparing for correctiorus, or trying to anticipate corrections, than has been lost in corrections themselve

@crespacarol3290 Жыл бұрын

constantly in a state of uncertainity and flux and money is made by discounting the obvious and betting the unexpect

@radicalgames480 3 жыл бұрын

Thank you so much everyone else tries making it simple but ends up making it more complicated so thanks for this.

@JuniorRodigan 3 жыл бұрын

So MINING basically makes these people guaranteed money & profits : 1. computer hardware manufacturers 2. the electricity companies oh, and 3. whoever makes FANS to keep the computer cool I think I'll just buy stocks in those companies . Thank you for this video

@DenzelBraithwaite-LBPSB 2 жыл бұрын

Finally, someone who can explain it without losing me after 30 seconds.

@jessicawiley1394 2 жыл бұрын

Sorry for writing you, just out of curiosity your page come up on my suggestion friend list so I was just wondering if I knew you from somewhere?!!!

@nikesh62 3 жыл бұрын

How the initial bitcoin generated/rewarded will have a value associated with the existing currencies of the world? Is it pegged initially or the coin generated gains value from zero value initially?

@user-ih5md5dj8s 3 жыл бұрын

You pribably won't read this but I just wanted to thank you for including info for euroean viewers! Please keep doing that(:

@lodewijkderham Жыл бұрын

This video explains everything so clear, thanks a lot!❤

@99Bitcoins Жыл бұрын

You're very welcome!

@mashakasareh1068 8 ай бұрын

Thank you very much for the good information you have given us so quickly and honestly I will reap the rewards

@99Bitcoins 8 ай бұрын

Good luck!

@Smerdzy 2 жыл бұрын

Thank you for this video! I've been interested in this for quite some time, but never knew the complete ins-and-outs. The video was clear and easy to understand.

@udaykiran8753 2 жыл бұрын

🙄

@hanslange743 4 жыл бұрын

You mentioned "Buying Bit Coins" instead of mining for them. What are the risks, or the rewards in buying the Bitcoins. Is there a minimum needed to buy? Where can you buy and sell Bit coins?

@cagedtigersteve 3 жыл бұрын

Dude....I did not learn a single thing about bitcoin mining. What exactly is it?

@paulbenjamin9910 2 жыл бұрын

Talks with so much confidence.

@pcer982 3 жыл бұрын

You minimized the power consumption of not only the enormous number of servers and backup servers but the elaborate cooling systems and backup generators. I visited a large miners operation and you leave out a lot. It’s not comforting that blockchains will be kept in foreign countries.

@sujex866 4 жыл бұрын

Best explanation ever !!!! Great Job !!!

@peg7929 3 жыл бұрын

Your video has helped me better understand the process and purpose of mining cryptocurrency more than any other video that I've watched. I'm totally new to all this, so the concept is difficult. But your teaching methods have shed some light on some of the areas that I was having problems understanding. Thank you so much 😊

@sagarupadhyay9676 2 жыл бұрын

Going to look for another video on Bitcoin

@18kroger 9 ай бұрын

Another outstanding informative video on Bitcoin. Great presentation.

@99Bitcoins 9 ай бұрын

Much appreciated!

@ralphralpherson9441 3 жыл бұрын

What if one were to purchase a modest ASIC miner rig that would be basically a weak fart to the bitcoin pool and instead use it as a bigger fish in a smaller pond? Do you think buying someones BC rig that is now obsolete and converting it to mine altcoins would be a worthwhile project?

@PharaHerine 3 жыл бұрын

finally I understand what mining is about, thank you for a simple explanation

@cryptosmart3806 3 жыл бұрын

To Understand is okay, so have you made any trade yet?. How to purchase bitcoin and how to secure it.

@PharaHerine 3 жыл бұрын

@@cryptosmart3806 no, I just wanted to understand. Out of my own curiosity. I do not intend to partake in the bitcoin trade.

@cryptosmart3806 3 жыл бұрын

@@PharaHerine I'm still new in the world of Cryptocurrency and I'm learning more of it day by day and that's why I'm here although I have already purchased and secured profit I didn't mine

@lolhyena1714 2 жыл бұрын

Said no one. Ever.

@elizabethkrushinskie8732 3 жыл бұрын

After learning about/trading Bitcoin for about a year now, I re-watched this video and it made a whole lot more sense to me than it did before. Thank you 😊

@mrsugar7528 2 жыл бұрын

Can u explain like when the computer solves the equation or something on the ledger and they become the temporary banker they also earn bitcoin by solving the problems right so who provides the bitcoin??

@automategames 2 жыл бұрын

I forget that years ago this video was informative.. now i chuckle at it like its a 1970's VHS training video.

@edmenolla6059 3 жыл бұрын

Dude! The only thing your video makes me want to do, is bash every laptop I see...thx!

@kerryobrien6110 3 жыл бұрын

I'm loving these explanations. The one thing I take issue with is the notion that banks have all the authority to do what they want with your money. Not true where there is a stable and reliable legal system to hold them accountable. In other words, if they won't give me my money, I can sue them to make them. They are not all-powerful in the way that the narrator suggests.

@danwelsh654 2 жыл бұрын

think again during the depresion banks just closed up people lost money no fdic ins.

@ukcryptolondonbased2953 2 жыл бұрын

He's explaining a difficult concept in 16 minutes. This requires huge simplifications, of which that was one. But he is right in that the bank is a trusted third party and is utterly corruptable as those tasked with keeping it in check are corruptable. Bitcoin relies on math, not people. Also your bank can freeze your account. If you have your keys, nobody can stop you moving your bitcoin.

@leeMichael-jf6fl 8 ай бұрын

yes true

@dfrederique Жыл бұрын

Well for someone who is a miner, that was a very thorough explanation.

@davidlapointe6016 Жыл бұрын

Mining is not worth it anymore; and well, never was environmentally speaking. You are just a tool, man. And bitcoin are gonna lose value with quantum computers.

@gregorybeaty8863 Жыл бұрын

Still nobody can make sense of it ,some of us don't understand how this literally works

@jonquindiagan7625 Ай бұрын

I think I need a better computer. Thank you for the information! Keep up the good work.

@prof1math 3 жыл бұрын

Amazingly beautiful explanation thanks

@pauldeckard7102 3 жыл бұрын

This video not only taught me that I have the memory and intellect of a fish but ... er what was I saying? :D

@coinsniper3519 3 жыл бұрын

I don't know what you just said but I agree and also give up.

@sunshineedits1 3 жыл бұрын

@@coinsniper3519 don’t do that 😐

@virgilliozacarias6431 3 жыл бұрын

Success depends on the actions or steps you take to achieve it. Show me a man with no investment and I'll tell you how long it takes to go bankrupt. Investing builds a safe haven for the future. With the right investment choice that has at least 2% minimum risk and with expert advice, profit and interest are 100% guaranteed.

@colincowering8016 3 жыл бұрын

Yes

@noel8337 3 жыл бұрын

Yes of course

@PlatanOsO Жыл бұрын

wow, i actually understand this, nice vid

@99Bitcoins Жыл бұрын

Thank you!

@Neverskipwingday 3 жыл бұрын

THANK YOU SO MUCH. I am a young investor thinking about obtaining Bitcoin

@gelaendewagenat 3 жыл бұрын

Great explanation, very sympathetic man, very comprehensible even for me as a non-native Englisch speaker. Thank you!!

@Kreedo1110 3 жыл бұрын

I can tell you’re a German by the way you’ve spelled English

@netrathapamagar 4 жыл бұрын

Much better than the others I watched so far. Still feel I need to know more...

@lelandmaharrey Жыл бұрын

Sorry for the random approach you seem to be an ambitious individual which gives me the idea to know if you're open minded to look a new way of generating an income, It may or may not be fit for you, but if I send you some info would you check it out?

@MikeNauti 2 жыл бұрын

wow your video has opened up my brain to so much more useful information then I had in it before! 🤯🤯🤯 thanku!

@Lakegirl2024 3 жыл бұрын

Is it common to have to pay 5000 in mining

@spiritbear100kg 2 жыл бұрын

What an excellent break down! I learned so much so fast, great work!

@danielsky7128 2 ай бұрын

@plack628 4 жыл бұрын

Short answer: You can't strat mining bitcoin with your potato Pc Short answer 2: you need powerful gpu etc 4x titan gpu and a lot of electiricity bills Shoer answer 3: It's expensive but rewarding

@users4007 3 жыл бұрын

short answer 4: “haha gpu price go up”

@digiexploration530 3 жыл бұрын

are you sure that bitcoin mining is expensive and profitable at the same time? I mean if I invest 1 billion USD now, what will my RoI annually be - this is the most important question here!

@267cal 3 жыл бұрын

So practically work a part time job and save that money then investit into a good pc and then start "mining"

@267cal 3 жыл бұрын

Ohohooh so the miner apps are just like big corporations hiring employees but they get the cash bcuz they got the equipment

@plack628 3 жыл бұрын

@@digiexploration530 Who in their right mind is going to invest 1 billion in bitcoins😂. Realstate would be the right move if you have that much to invest

@Rishabh-rc4zs Ай бұрын

This video is understandable for computer science students only

@gordoncushman7807 2 жыл бұрын

So where does value/money come from ? Sounds like building a computer to predict when a progessive slot at the Casino is going to Jackpot. Being at the right place at the right time over rules any level of predictability.

@OneThiccThresh 3 жыл бұрын

This video aged real well, thanks for the info!

@ashtermunir4191 3 жыл бұрын

41000, Right.. Hahahah!!!

@OneThiccThresh 3 жыл бұрын

@@smithanderson1577 I bet, your account was made 3 minutes ago lol

@deehokanson9626 2 жыл бұрын

hello

@joepieone6271 3 жыл бұрын

This video thought me so much about me not knowing anything 😔 about this whole video.

@bradsillasen1972 2 жыл бұрын

This video asks many more questions that it answers. For instance: @1:14 "All you need to do is guess a random number that solves an equation generated by the system" WTF does that mean? Can anyone offer a simplified example of how that might work?

@amitgordhan6244 4 жыл бұрын

Thanks for a truly enlightening presentation.

@cobymartine1438 Жыл бұрын

Crypto is bringing a different revolution in the world economy, people who are optimistic investors earn consistently, others will just sit and watch!

@michaelwhite6902 2 жыл бұрын

Bitcoin is exciting because it shows how cheap it can be.Bitcoin is better than currency in to that you don't have to be physically in the same place and of course,for large transactions, currency can get pretty Inconvenient.

@lucyking7231 2 жыл бұрын

Well I think it's working there may be other currencies like it that may be even better.But in the meantime, there's a big industry around Bitcoin-people have made fortunes off Bitcoin, some have lost money . it's is volatile,but people make money off volatility too.

@stellamichael9555 2 жыл бұрын

When Bitcoin currency is converted from currency into cash, that interface has to remain under some regulatory safeguards. I think the fact that within the bitcoin universe an algorithm replaces the function of the government... (that) is actually pretty cool.

@henrymatthew8597 2 жыл бұрын

It is not a speculative investment even though it is being used as such by other people. As Bitcoin network grows the value of Bitcoin grows. As people move into Bitcoin for payment and receipts they stop using US Dollars,Euros and Chinese Yuan which in the long-term devalues these currencies.

@gabrielrio2412 2 жыл бұрын

Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. But I am not familiar with the specific product to assert whether it is the best potential setup. And we need a long time to establish confidence.

@solomongabriel3571 2 жыл бұрын

When I first heard about Bitcoin, I thought it was impossible. How can you have a purely digital currency? Can't I just copy your hard drive and have your bitcoins? I didn't understand how that could be done and then I looked into it and it was brilliant.

@fuadyassin2924 2 жыл бұрын

This is the best explanation!

@CareraDrift 3 жыл бұрын

Great video no BS and simple to understand

@Zockergames 5 жыл бұрын

perfect information, just needed that. Thank you!

@reasoning2men 4 ай бұрын

That was a great video very clear, thank you.

@99Bitcoins 4 ай бұрын

Glad it was helpful!

@ethanlee5317 3 жыл бұрын

I finally found someone who explains it clearly! Thanks!

@sunshineedits1 3 жыл бұрын

Why would you ever think that he explains it CLEARLY

@UPE-DharunShankar 3 жыл бұрын

@@sunshineedits1 he did explain it clearly lol, some other vids were really complex and boring.

@joannedavis1991 3 жыл бұрын

Yeah right!

@tywrapking7297 3 жыл бұрын

Who?

@michaelvincent6472 2 жыл бұрын

Really? What video did you watch?

@iamtruthseeker1950 3 жыл бұрын

I pretty much understand Mining AND the blockchain AND that the reward is currently 6.25 Bitcoins every time a miner completes one. But here is my QUESTION: If the miner(s) who guess the solution gets the bitcoins, how do those bitcoins get into public circulation? What I mean is...how are WE the public able to purchase these new bitcoins that are mined? What is to stop the miners from hoarding them and deciding NOT to sell them?

@mikeysgametime8914 2 жыл бұрын

Absolutely nothing, from what I can tell

@BrokenG-String 2 жыл бұрын

Maybe they could expire and return to the pool