I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Ryan Donald Robert. A widely known crypto consultant
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
@@WhiteboardCrypto Wait but seriously this is driving me nuts to the point where I can’t even watch the video. Why do your videos only play out the left headphone? Am I just dumb?
You need to dig deeper regarding the “drawbacks” like more efficient asics, tapping into unused energy sources, grid stabilization, faulty energy consumption reports etc. And regarding scalability, please look at lightning network which solves the scalability. Bitcoin is built in layers exactly like the internet is.
Hello thanks for introducing her to us i actually did the trade with a loan from my friend and now with the profits i payed up and now am happy and comfortable
@@faithbremen8376 Wow I'm just shocked you mentioned and recommended expert Mrs Cynthia Donald, I thought people don't know her... she's really awesome!
@@marktimothy9607 Haha you don't have to be surprised Mrs Cynthia is really good and everyone loves genuine services, she've helped me recover what I lost trying to trade on my own
I still don't understand how it decides which transactions are being added to each block? Is it added to a block after its hash key has been solved? How is it deciding where to put the transactions in the chain? Is there only a single chain or are there subchains in the network?
Thanks, I think exactly the same. It puts the terms into a context using lots of different other terms that are not explained at all. In the end you can explain pow in terms of other things you have no clue what they mean. Pretty useless, at least to me. I used to develop very complex software, so I doubt I am too dumb to understand all this, although this may totally be possible.
love your videos. Thank you for producing such a high quality videos and still keeping it somehow simple and easily understandable. I read the whole Ethereum documentation and your videos are still very helpful watch
Interesting) but this question is off topic... who can describe how to correctly transfer USDT from an OKX wallet to Binance? There are only 12 words: head isolate sound end kit industry choice festival limit stable dolphin derive. Thank
PoW has a penalty too. The burned energy is the penalty, so you won't cheat, because you will burn a lot of energy/money and you won't get nothing. Even if you could mine new block with fake transactions, other nodes will automatically ignore it. You tried to cheat, burned a lot of money to mine new block and get nothing. PoW is great and strong consensus model and PoS is not better.
Hi I love all your vids but wanted to know: Are some videos deleted? I can’t find some of the videos you reference throughout the channel, but you’ve been teaching me a lot so I want to watch them all!
Why you need to adjust the fee? Is there someone out there responsible picking a transaction to be validated? I thought blockchain is all machine and algorithm, no human involved.
Your content is awesome! Kindly cover the whole concept in a single video dont recommend another video for full understanding or maybe make videos in sequence so that we develope concept regarding current video Thanks!
Most miners combine their computing power into mining pools. So combined they have a higher chance of mining the block. The reward than get's distributed over the complete pool based on how much computing power each miner added to the pool. This way miners trade in a small chance to get a big reward for a steady flow of small rewards.
It's already gone overrun. Most mining is done in Russia and other countries where energy is cheap and oligarchs have invested millions of dollars creating gargantuan mining data-centers and they take all the profit from mining. The whole crypto mining thing is done. This will eventually be the space of only the ultra rich taking all the business for themselves, just like everything else in the world.
Good video but the 3 problems are trash and you could’ve explained how they are being solved on the bitcoin blockchain. 1. Energy consumption is required to create value - how much energy do you think they use when they print money? Also as you stated the high energy consumption is pushing miners toward renewables, so you could say that bitcoin is actually pushing the world towards renewables. 2. The scalability is solved with Lightning on the second layer of bitcoin , the same as video on top of the internet base layer protocol. The base protocol for the internet tcpip is slow and clunky like the base layer of bitcoin but with a layer 2 you can add features such as high speed video streaming or in the case of bitcoin, instant, free payments. 3. Why do miners need to be punished when the nodes control the network, not the miners. How would miners even do have malice intent? Like you said they get disregarded by other miners and nodes if they do anything or go offline. Even after the block size war and the China mining ban, nothing happened. I think your 3rd point is completely random and doesn’t make any sense. Other than that, the content was great and I enjoyed your explanation of proof of work, which is far superior to proof of stake. Proof of stake means only rich people can run nodes because there is such high computing power needed to maintain the ledger, thus, centralising the consensus. Proof of work and a slow base layer means any man and his dog can run a full node and validate transactions, creating far better decentralisation.
@@thepandaahbear9025 I agree. The second layer Lightning network solves this, you don’t need your morning coffee on the blockchain but maybe a purchase of realestate right?
*QUESTION:* what's to stop a government like the U.S. or China from hijacking the network by investing in the computing power to obtain 51% of the network's power? (Referring to 6:02)
Great video! I understood it very well. Side note, it seems the sound is only coming out of one ear (left) when watching this video with earphones on, so I don't know if it's something that's controlled on your side because I tried using 2 phones and 1 laptop as well but it doesn't change anything. My earphones are functional by the way.
Thank you for the comment Chris! You are correct, our first 3 videos(NFT, Staking, and PoW) had it where audio only played out of 1 speaker. We didn't notice until the 4th video and then started correcting the videos from there on. Sorry you had this problem and future videos from here on out should be good for you! :)
Double spending is when Alice pays Bob 10 dollars and then Bob resubmits Alice's message to pay him 10 dollars to get another 10 dollars from Alice. And this double spending is prevented because of the digital signature hash that Alice created with her private key.
If a viewer were not familiar with the word "consensus," it's doubtful he'd be able even to turn on his computer, let alone be the sort of chap who searches the internet for information on distributed ledgers. The presenter seems to think it's an uncommon or difficult word. Somehow, though, he manages to use "comprise" properly - a rare occurrence these days.
Energy consumption is good thing. Bitcoin mining is one of the the most efficient, lucerative uses of energy of anything in existence. This not only drives bitcoin itself but also drives innovation and improvement in energy itself via miner competition. As humans we want to consume as much energy as possible as efficiently as possible. Energy = progress.
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
Wow congrats, do you mind sharing how you did it...
I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Ryan Donald Robert. A widely known crypto consultant
I've come across this name before, is he really reliable?
Nice content! My Left ear are happy to learn this much of crypto in so high quality video.
LOL I was looking for this exact comment. My left ear is now super informed on proof of work
@@Fluffles87 Me too!
😂😂😂
😂😂😂😂😂
@Canal do CropBytes metooooooooo
well your right year should now listen to his Proof - of - stake video. Then let the 2 ears arrive at a consensus which is better :)
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
It is good to seek expert guidance before venturing into trading to avoid losses
Taking advice from financial experts like Evan dannis to fine-tune your investments is a smart choice.
I racked up so much losses trying it on my own. Evan really saved me from myself
I'm surprised that you just mentioned Evan Dannis here. I met him at a conference in 2018 and we have been working together ever since.
Finding someone truly skillful is hard. I'm happy to see that a lot of people found Evan
My right ear hates this video.
My left ear is full of 'Proof of Work'
if you watch our staking video your left ear will be overflowing
@@WhiteboardCrypto Wait but seriously this is driving me nuts to the point where I can’t even watch the video. Why do your videos only play out the left headphone? Am I just dumb?
@@WhiteboardCrypto your video has audio issues. audio is only coming off the left side.
@@WhiteboardCrypto LMAO. Great video nonetheless. I salute your efforts.
@@mattperry4138 haha frrr. i thought my R earbud had broke
My left ear liked this video!
Why is your audio only coming from left?
thought I was going crazy
champs study the basics tirelessly...thanks
What an awesome work! Great job ❤
Trying new ways is the best-just like trying out new ideas. Recently, Step Finance caught my attention!
Great video brooo👍👍
Keep it up
You need to dig deeper regarding the “drawbacks” like more efficient asics, tapping into unused energy sources, grid stabilization, faulty energy consumption reports etc.
And regarding scalability, please look at lightning network which solves the scalability. Bitcoin is built in layers exactly like the internet is.
fantastic explanation
Thank you, have been watching your channel for couple of weeks ago and it's really make sense and it really help me through..
Hello thanks for introducing her to us i actually did the trade with a loan from my friend and now with the profits i payed up and now am happy and comfortable
Who made profits for you, am really looking for a pro who can manage my account and make me huge profits
@Kimberly Williams She's expert Mrs Cynthia Donald of the best and trustworthy broker ever
@@faithbremen8376 Wow I'm just shocked you mentioned and recommended expert Mrs Cynthia Donald, I thought people don't know her... she's really awesome!
@@marktimothy9607 Haha you don't have to be surprised Mrs Cynthia is really good and everyone loves genuine services, she've helped me recover what I lost trying to trade on my own
I love your work. Thanks a lot. everything is explained in the simplest way possible.
Excellent,,, wished you'll sloooowwww down a bit... can you do that.... thanks !
....it's a video,pause and go back
Just slow down your playback speed...
Pls slow the playback speed
cool content Whiteboard Crypto. I broke that thumbs up on your video. Maintain up the very good work.
Thanks, will do! -N
amazing work
But who creates the password of the block for the miners to be found?
I still don't understand how it decides which transactions are being added to each block? Is it added to a block after its hash key has been solved? How is it deciding where to put the transactions in the chain? Is there only a single chain or are there subchains in the network?
Amazing Video, keep it up, this channel is going places!
Thank you! That's our plan :)
It would be cool to get your shorted notes or transcript pdf for each video explainer.
How is it decided which block a transaction gets added to?
video doesn't give any answers what is proof of work and how It works.
Thanks, I think exactly the same. It puts the terms into a context using lots of different other terms that are not explained at all. In the end you can explain pow in terms of other things you have no clue what they mean. Pretty useless, at least to me. I used to develop very complex software, so I doubt I am too dumb to understand all this, although this may totally be possible.
love your videos. Thank you for producing such a high quality videos and still keeping it somehow simple and easily understandable. I read the whole Ethereum documentation and your videos are still very helpful watch
good video , thank you.
My left ear fully understood the proof of work
Great video!
Thank you so much 🎉
Interesting) but this question is off topic... who can describe how to correctly transfer USDT from an OKX wallet to Binance? There are only 12 words: head isolate sound end kit industry choice festival limit stable dolphin derive. Thank
Nice content! May request you to make a video to explain what Bitcoin miner/ validated is ? How could that work ?
Where does the bitcoin that the “miners” earn from mining come from? and why do they have to mine/validate it at all?
PoW has a penalty too. The burned energy is the penalty, so you won't cheat, because you will burn a lot of energy/money and you won't get nothing. Even if you could mine new block with fake transactions, other nodes will automatically ignore it. You tried to cheat, burned a lot of money to mine new block and get nothing. PoW is great and strong consensus model and PoS is not better.
in open systems everyone will come to know where the money is coming and where it flowing into .
so transaction is impossible
Is there a way to reorder the play list? I came to this one from the beginning of the staking video.
Thank you for this breakdown.
Nice content
Hi I love all your vids but wanted to know: Are some videos deleted? I can’t find some of the videos you reference throughout the channel, but you’ve been teaching me a lot so I want to watch them all!
So, PoW is done when any one system/computer confirms or solve the equation of transactions or whole network works as a whole single system? 🤔
Yes
Awesome man, thank you for making it simple
☝️For Suggestions☝️❣️.
Up to 100 transactions? No, many more than that fit into a bitcoin block, closer to 2,500 transactions.
there is no sound on this video @whiteboard crypto
I wasted 20 minutes resetting my headphones and reading forums thinking there was an issue.
you said every crypto project is blockhain based, I thought there were other distributed ledger technologies such as DAGs..?
Why you need to adjust the fee?
Is there someone out there responsible picking a transaction to be validated? I thought blockchain is all machine and algorithm, no human involved.
The energy consumption is what makes
BTC so secure and unhackable.
So how exactly does that stop double spending?
Step Finance is the project everyone’s talking about-what makes it special?
Can you please do one of cosmos
My right ear has done no work. 🙁
Your content is awesome!
Kindly cover the whole concept in a single video dont recommend another video for full understanding
or maybe make videos in sequence so that we develope concept regarding current video
Thanks!
Hi I saw the other day someone on Twitter mentioning that cardano's last 10 blocks were almost 100% full... I want to know what does it mean...
Given the increasing computational power needed, does it meant POW will eventually be accessible to fewer entities with huge resources on hand ?
Most miners combine their computing power into mining pools. So combined they have a higher chance of mining the block. The reward than get's distributed over the complete pool based on how much computing power each miner added to the pool. This way miners trade in a small chance to get a big reward for a steady flow of small rewards.
It's already gone overrun. Most mining is done in Russia and other countries where energy is cheap and oligarchs have invested millions of dollars creating gargantuan mining data-centers and they take all the profit from mining. The whole crypto mining thing is done. This will eventually be the space of only the ultra rich taking all the business for themselves, just like everything else in the world.
Mining gold & banking buildings must be great for the environment
Good video but the 3 problems are trash and you could’ve explained how they are being solved on the bitcoin blockchain.
1. Energy consumption is required to create value - how much energy do you think they use when they print money? Also as you stated the high energy consumption is pushing miners toward renewables, so you could say that bitcoin is actually pushing the world towards renewables.
2. The scalability is solved with Lightning on the second layer of bitcoin , the same as video on top of the internet base layer protocol. The base protocol for the internet tcpip is slow and clunky like the base layer of bitcoin but with a layer 2 you can add features such as high speed video streaming or in the case of bitcoin, instant, free payments.
3. Why do miners need to be punished when the nodes control the network, not the miners. How would miners even do have malice intent? Like you said they get disregarded by other miners and nodes if they do anything or go offline. Even after the block size war and the China mining ban, nothing happened. I think your 3rd point is completely random and doesn’t make any sense. Other than that, the content was great and I enjoyed your explanation of proof of work, which is far superior to proof of stake. Proof of stake means only rich people can run nodes because there is such high computing power needed to maintain the ledger, thus, centralising the consensus. Proof of work and a slow base layer means any man and his dog can run a full node and validate transactions, creating far better decentralisation.
The problem with energy here is that it’s also required in significant amounts for every transaction
@@thepandaahbear9025 I agree. The second layer Lightning network solves this, you don’t need your morning coffee on the blockchain but maybe a purchase of realestate right?
Great video! Thanks for the lesson
☝️For Suggestions☝️❣️.
Many thanks for great information, but far too fast audio presentation. Please leave a gap between sentences. (0.75 playback speed is not great).
Which Software Used to design Animation?
No audio..
why is it always Bob and Alice? This is the 3rd video I've seen where they use those names.
Please guys make a video on POH
ai wrote me a crytpo currency program with proof of work wallet and mining software to go with the program
Headphone audio output is not audible for right side
what happens if no one mines ?
*QUESTION:* what's to stop a government like the U.S. or China from hijacking the network by investing in the computing power to obtain 51% of the network's power? (Referring to 6:02)
It will cost trillions of dollars and will be quickly identified.
can you please tell me what is the animal in your profile is?
Why does this video play only on left side of earphone😝
nice vid💖
Awesome
Best is proof of burn and best for this is Satozhi
I wish videos like this exist for my life, like REAL Life hacks, not arts and craft hacks
how to code a cloud mier?
Great video! I understood it very well.
Side note, it seems the sound is only coming out of one ear (left) when watching this video with earphones on, so I don't know if it's something that's controlled on your side because I tried using 2 phones and 1 laptop as well but it doesn't change anything. My earphones are functional by the way.
Thank you for the comment Chris! You are correct, our first 3 videos(NFT, Staking, and PoW) had it where audio only played out of 1 speaker. We didn't notice until the 4th video and then started correcting the videos from there on.
Sorry you had this problem and future videos from here on out should be good for you! :)
@@WhiteboardCrypto Thanks for the clarification.
You need to clarify this thing on Bitcoin mining energy usage. It’s better for our planet. So much energy is made and literally wasted.
Double spending is when Alice pays Bob 10 dollars and then Bob resubmits Alice's message to pay him 10 dollars to get another 10 dollars from Alice. And this double spending is prevented because of the digital signature hash that Alice created with her private key.
gr8 explanation thanks man
No, double spending it's not doubling token. It is retransfer or cancel transaction!
Bro the Audio tho😭
Can you talk any faster??
The content is great, but your videos would be far easier to follow if you took a few breaths and slowed down a bit....
feel free to change speed to .75 in the settings
cant hear this video .. sound problem :(((
bro i thought my headphones were messed up
Thanks :)
I'm glad i invested with Mrs Harriet, I was finally able to pay off all the loans I took last year, she truly is a lifesaver.
Thought that my headphones need to be repaired
nice
What happened to the right ear??!
you scale bitcoin with layers 2
If a viewer were not familiar with the word "consensus," it's doubtful he'd be able even to turn on his computer, let alone be the sort of chap who searches the internet for information on distributed ledgers.
The presenter seems to think it's an uncommon or difficult word. Somehow, though, he manages to use "comprise" properly - a rare occurrence these days.
Do you have a specific Bitcoin vid?
You lose me at the password guessing part. Why does this need to be done, what is the point? Why set a hash password only to get miners to guess it?
Wasting your resources is not a punishment?
bro i thought i got deaf by my right ear 💀💀
Step Finance really helps me keep track of my crypto. Do you track your investments regularly?
what happened to tthe right ear?
please make a new video where you put the audio in both ears. I can't watch it otherwise
The audio only being on the left is giving me a lazy eye
Please fix the mono audio
Skibidi toilet is so sigma grimace shake
!
hand movement is confusing me
My right ear needs Supplement
Energy consumption is good thing. Bitcoin mining is one of the the most efficient, lucerative uses of energy of anything in existence. This not only drives bitcoin itself but also drives innovation and improvement in energy itself via miner competition. As humans we want to consume as much energy as possible as efficiently as possible. Energy = progress.
More energy is used by banking sector, porn industry and dishwashers than BTC.