3Blue1Brown – But how does bitcoin actually work?

3Blue1Brown – But how does bitcoin actually work?

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  1. I’m new to this space and found this video incredibly helpful for visualizing and connecting the different aspects of the bitcoin blockchain, so I wanted to share it here in case it might help others. I found it especially helpful for understanding the 51% problem. I also appreciate that 3B1B approaches it from a purely technical perspective and isn’t trying to sell anything.

  2. It’s basically a logbook that contains every transaction ever made. Every 10 or so minutes the new transactions are updated into the logbook by miners (called a new block). They then need to find a specific code that fits with this logbook. If they find it they ‘validate’ this page containing the last 10 min worth of trades in the logbook, and get the reward in BTC for finding and solving this block. This block is then added to the already existing chain of blocks containing all transactions ever made.

  3. Even though this video has been reposted since forever in the crypto community, it probably deserves to. It is probably the best video ever made explaining Bitcoin. 3Blue1Brown is a genius in didactics.



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