How Bitcoin Works in 5 Minutes (Technical)

33 Comments

1. Yeah, it makes it very clear that this is most likely a Wall Street /bankster backed plan to move us off fiat currency and into digital fiat currency. Thanks for taking the time.

2. that's one expensive lawnmower

3. I would love to meet the person who wrote/created bitcoin

4. clear as mud!

5. You're kidding me! Someone is supposed to understand this?! This is an example of why Bitcoin doesn't work, won't ever work.

6. Actually one of the better descriptions I have read/watched. I think I almost understand it now!

7. No more money is given out after 2140?… That day will mark the end of bitcoin.

8. 5.2 btc 10396.07 British Pound is this lawnmower made out of gold?

9. Sounds to time consuming to me.

10. I got an Ad from DASH. They are against Bitcoins…….

11. Fuck off me, IDK why I clicked on this shit, I'm lost and confused.

12. I get a Bitcoin ad at the start of the video, coincidence?

13. oh and pc players, these bitcoin miners are the reason that no decent gpus are available. So thanks miners who should get a real job

14. I still don't understand bitcoin

15. poor scott

16. My head hurts..

17. not sure about bitcoin. I can't put it in my wallet like a dollar bill or put it away like gold or silver coins. And its not really a scarcity item as it could be replicated over and over again, or be remade into another type ie Eth, dogecoin, etc.

18. Still dont get it ….

19. I don't get it. This video doesn't tell you how to use it. How do you get started? Where do you get it?

20. Who knew that Alice can be so sneaky?

21. I didn't feel like you explained the double spending prevention and how it translates to the block-chain. How does the "lottery" determine which transaction is legitimate? The way it's explained above implies that both transactions would enter the pool and whichever hash match occurs first gets added to the end of the chain. It obviously can't work this way. Thanks for the video! Lots of good information here.

22. Great graphics but talks so fast about so much technical detail in just 5 mins that after watching it twice I still only vaguely understand it.

23. 3:05 what solution?

24. Someone is sitting back and collecting all the dollars for these Bitcoins !

25. nice (Y) this is what I was searching for. Mining

    But one question, how many bitcoins are there and how they get their value as compared to any currency?

26. will I ever get rid of math ?

27. This is a monetary system the gov. Should adopt instead of letting everything go to hell.

28. There are many mistakes in this video. There is no "balance" in bitcoin, only transactions. The blocks are the essential element securing the network (including the problem of time) and they are left out. Nobody tries to link their own transactions to the ledger, people try to link blocks, and this allows them to put a transaction to themselves at the end of the block (generating new coins). Understanding Bitcoin is complicated and will not take 5 minutes, if you're interested I'd recommend the course at coursera.org. If you are only willing to spend 5 minutes understanding bitcoin then go grab a beer and forget about it.

29. I understood about half of this

30. what?

31. another Ponzi scheme

32. We still don'tave anything that is physical, If there is a problem like electricity or computer or even government problems, all your value goes away. Why don't we just use real money? I mean REAL money!

33. why this video dont have rus subs (