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One of the best explanations of Bitcoin under 10 minutes πŸ™

One of the best explanations of Bitcoin under 10 minutes πŸ™



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24 Comments

  1. Aljazeera no less. Very well done. I don’t have anything bad to say about it.

    An astute observer will notice the middleast, russia, and china notably are some of the strongest advocates of bitcoin now (at least certain strong voices from those places, if not also the central governments explicitly). I think there’s some game theory emerging now. They see their chance (as does every non-US country in the world) to put a serious dent in dollar hegemony. I’m rooting for them, at least in this venture.

    Fiat currency’s reign, I hope, is coming to an end. That’s not to say fiat will die, but crypto can at least somewhat hobble the military industrial complexes around the world, as well as the welfare states, which are both largely funded by the hidden taxation of money printing, in all its various forms. I don’t think most people realize the extent to which these regimes are propped up by monopolistic control, and arbitrary printing of the national money supplies.

  2. Minute 3:35 is factually wrong! I ignore the simplification that the coins are supposed to be sent to the public key and assume that is true (which it was in early versions). But transactions are neither encrypted nor decrypted. Tools from asymmetric encryption are just used to produce Digital signatures. (the white paper says actually that an electronic coin is defined as a list of digital signatures…) so disappointing that 12 years in, the mass media still doesn’t get it

  3. Long live the king!! Fucking Yellen spouting her bs. Central banking has stolen more wealth from more people than anything else is history by far. Time will not be kind to them. Fucking criminals.

  4. >We really need to examine ways in which we can curtail their use and **make sure that anti-money laundering doesn’t occur through those channels.** – Janet Yellen [emphasis added]

    Hey Janet – Your Freudian slip is showing

  5. What I find funny all around Bitcoin or any discussion about cryptocurrencies is that when they are done criticizing it and valid facts are available to answer those criticisms they simply turn to terror funding and money laundering. I’m like doesn’t that happen with our normal currencies as well? So what’s the big deal how much is getting caught and how much quantification you need to know before kicking something to the ground just because you don’t understand it. People who believe in BTC (like me) are not rubbing it on everyone to embrace it right now it will take its sweet time and I’m ready to wait. Those who wanna pump and dump to make quick buck from BTC and other cryptocurrencies are the one we need to watch out for. This was just my opinion nothing more.

  6. The big problem with the banking system is that it is a scam, first of all we have never seen gold that provides paper money. We’ve only seen this gold on TV, are you sure it exists ? I’m not sure about that ! The second is why we should pay the banks for what the banks earn from our money, we give money to the banks to manage and why we should still pay for it. Why when people come to the bank they have to stand in queues, we give them our money, but we are not given a quality service, why banks save on customer service, we are the source of their prosperity. The banking system is the greatest scam !!! Most people now live in debt from the bank, take out loans at high % buy everything in loans, apartments, houses, cars, people even go on vacation on credit. This was imposed on us as a NORM, but 50 years ago this was not the case, people did not know what it was like to live on credit . The poorer the country, the more greedy the banks are ! Interest rates are tougher ! Hey, what’s your next move ? The food will be so expensive that we will have to buy it on credit ?

  7. stop it.stop discussing about it .
    first buy a little atleast any small value just buy it first.
    then get indulge into discussion you’ll get to know bitcoin and blockchain technology better.

  8. There are many problems with this bike for the beginner I guess it’s good enough.

    For additional understanding look up what a node is because it is an essential non-economic actor and essential element in the Bitcoin Network.

    Also people have to understand that there are different grades of energy some energy is worth more than others simply because the demands on the network can make it worth a lot less and in some cases people are paid to use this energy. This energy is sold at around $0.02 per kilowatt-hour there is also the more expensive energy from $0.11 to $0.13 on average which is more in demand by commercial and residential users.

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