What is Bitcoin for dummies - A simple explanation for beginners
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- Опубликовано: 20 авг 2024
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What is Bitcoin - A simple non technical explanation about the concept of Bitcoin for beginners.
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😂😂
The comment section of most financial videos are filled with scams now. They have whole mock conversation amongst themselves trying to lure others into their trap.
Yes now I understand bitcoin.... less than ever before.
Like fo real lmao
I need to graduate from below dummies school to dummies school first.
Dude I feel that you just had me and my coworker laughing so hard cause we just said that
Glad I ain't the only one 😂
Same
Well, I must be dumber than a dummy because that just left me completely confused and uncomprehending.
Same here 😢
Who else didnt understand at all?
Me
me and it was totally explained to me many times, lol
Interesting, thanks. Sorry, if this is off topic, the question is how to transfer USDT from an OKX wallet to Binance? Nothing except the seed phrase: head isolate sound end kit industry choice festival limit stable dolphin derive. Can you describe how to do this correctly?
I finally understand! Thanks.
UGH I don't get it no matter how much I look into it. This makes 0 sense to me and I have a friend of mine that wants me to invest into bitcoin without knowing wtf I'm doing. Like this makes zero sense. How can pocket change turn into millions? Its doesnt' make sense
you still have misunderstood word(s) in this - you gotta find them and demo the whole thing
I am now more confused than ever :|
Hey I 69 still confused about the dollar.
I hate I clicked on this and listened to it.
Yes
I still do not understand 😓
Really ?
@@maryhernandez7840 yes
Hello what's the best way to get started with trade cos I've been making my personal research for a while now
:27 "What if we wrote down somewhere, maybe in an electronic ledger, what value each person has..."
Fails to mention the most important part... who and how is the 'value of each person has' determined???
Hi,
The first owner of a freshly minted Bitcoin is owned by the miner. From there, the coins flow into the circulating supply. Each transaction executed is registered in an electronic ledger - subtracting the 'spent' coins from the miner's wallet, and adding it to the next person's balance, and then to the next person, on and on, over time.
In the same way the Internet revolutionized the world we currently live in, I truly see Bitcoin as having the ability to change the world for the better.
In that sense, I am one of a select few who can honestly say, “I am in it for the tech”, the opportunities and the implications it will have on our society.
Well this help me a lot thank you
Glad it helped
thank you
Could someone explain how inflation of the bitcoin affects the Market?
My point is: people expect that a currency wouldn´t change 1000% for more or for less(check history of bitcoin prices)...
How far bitcoin is a currency(day-to-day payments and receivables) or a investment?
Bitcoin's purpose is to NEVER have inflation.
I don't get it
Yes
You misspelled Decentralized... otherwise, good video!
Why tho?
Love it! I finally got it!
i still dont understand lol
Yes
This told me absolutely nothing.
It wasn't the best. I actually haven't seen a great, simple explanation of BTC from top to bottom.
Yes
On the point...very good Video! Well done!
Very nice.
Thank you! Cheers!
I have a question. I heard bitcoin is limited to 21 million (I think) coins. If miners are constantly getting bitcoin for doing their work, who is paying them? I assume they are not getting new bitcoins as it's limited.
Only about 18.5 million have been “mined” so there’s still 2M coins that can be mined or “unlocked” you could say. This scarcity will keep driving the price up, so it’s still a good time to get in.
They are rewarded with newly minted coins from the network as well as transaction fees for all the transactions in the block. As the new coins mined reduce over time to zero, the theory is that the rising price of BTC will make transaction fees alone worth continuing to mine in the future.
I understood Bitcoin, until I watched this video. Pancakes?
Ohhh… it’s a DDC. Why didn’t you say that?
What happens if I pay the "" minors more then the banks do to say that my value is higher obviously I'll have more money to do so if I find a way around it
This still didn't make any sense. 😠😠😠
YES
Can I use this video on a website?
If you like I don’t recommend it but ok
you have done a phenomenal job explaining this thank you so so much- subscribing my friend
So people spend really money to buy pretend money?
You gave the two characters on the right the same bitcoin address.
I can barely remember my 3 digit home address did you see how long those account numbers were?
Money goes way farther back than the 12th Century. Mesopotamians used clay tablets to record value, just like you might use a paper IOU. Taxes owes to priests in the temples could be paid with clay IOUs, which were totally transferable from party to party, to make purchases.
We could stamp their foreheads with RFID chips! ya !
Then if John has to much we could take some of his value and give some to Paul!
Or if one race was underperformed we could "equalize" Everyone ! lol
How do you cash out and make dollars off of your bitcoins?
I don't think people cash out their bitcoins. They use it to buy products etc. However you can sell your bitcoins to other people who are interested in buying bitcoins. I'm still reading up but I'm guessing this is how it goes
You can use exchanges to sell your Bitcoin. I can help if you have any questions.
You dont
yo good v ideo hnot a piece of good
i tlike all of the mdall
Huh?
@@cutwithaknife5718 i don't even remember commenting this LMAO
@@anthony4368 oh
The only thing people want to know about bitcoin is how to make money from it.
By trading it obviously
@@maryhernandez7840 Its not so obvious for some people
AHHHHHHHHHHHH
Money invented in the 12th century...eh?
Yeeeeeeaaahh, kind of shredded the video's subsequent credibility at that point...
رب اعوذبك من همزات الشياطين واعوذ بك رب ان يحضرون
رب اعوذبك من همزات الشياطين واعوذ بك رب ان يحضرون
Oh yes that makes sense
Still confused.
bitcoin is a bucket of steam
Oh. Ok um
Ethereum rocks 🎸🎸🎸
Very accurate Bitcoin is for Dummies since it operates just like a modern bank, but miners to me seem like a burden.
guess l am dummer than dumb people
whaatt!!!!!!! money invented in the 12th century!!!! I am don watching this crap
Right. Ah...the internet. Where revisionist history begins. Makes one feel warm and fuzzy about actually adopting Bitcoin.
He explains that at 0:18 with a drawing on the left side 😂 😂
This doesn’t explain fuck all
It’s a scam.
That made absolutely zero sense.
Hi @Andrew-rz6hh,
Please join our 7-day Bitcoin crash course absolutely free: bit.ly/2pB4X5B
I hope this helps.