But how does bitcoin actually work?

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  • Опубликовано: 11 ноя 2024

Комментарии • 25 тыс.

  • @3blue1brown
    @3blue1brown  4 года назад +9854

    If you see comments here about investing or brokers, they are scams. Videos about cryptocurrencies, evidently including ones that are just about the underlying technology/math, are hotbeds for attracting nefarious actors preying on the impressionable.
    Also, hi! If you’re new to this channel, most of it is about visualizing math. I get it, you probably landed here searching for how BTC works, not to spend your afternoon getting pulled into learning about, say, prime numbers or problem-solving, but if you have a moment take a look at the rest of the channel, you may enjoy what you find.

    • @samuelluce8286
      @samuelluce8286 4 года назад +299

      I'd recommend not just reporting, but also replying to them, explaining to any potential readers how their advertisement is a scam. Commenting is quick, and could save somebody hundreds of dollars! :)

    • @rjleykassya1931
      @rjleykassya1931 4 года назад +5

      Thank you so much Lisa

    • @caden5173
      @caden5173 4 года назад +128

      Wow I’m already seeing scams scrolling through the replies to this lmao.

    • @rolanddennis791
      @rolanddennis791 4 года назад +4

      I appreciate your efforts toward my account, I give it a try but I wasn't regretting it at least

    • @rolanddennis791
      @rolanddennis791 4 года назад

      @Eric Martins yeah, you're right

  • @pulsar2000B
    @pulsar2000B 3 года назад +8271

    "I'm still confused, but on a higher level!"

    • @scottlane6353
      @scottlane6353 3 года назад +113

      Me too. My confusion is at a much higher level after seeing and grokking this video. So, I'm grateful for that.

    • @ben251
      @ben251 3 года назад +41

      that's a really nice way of phrasing things

    • @awd7477
      @awd7477 3 года назад +10

      i searched alot information and already know how it works before watching this video :D

    • @awd7477
      @awd7477 3 года назад +2

      @@themayanksingh i profited alot with it

    • @datascience2254
      @datascience2254 3 года назад +8

      Confusion is at that level that , it's rare to find someone get it

  • @Charlie-rh8od
    @Charlie-rh8od 3 года назад +3150

    When he said “I’m looking at you Charlie” I got chills

    • @beomon3449
      @beomon3449 3 года назад +16

      lol

    • @jacobhall1324
      @jacobhall1324 3 года назад +78

      Pay them back CHARLIE!!!

    • @Cethavi
      @Cethavi 3 года назад +80

      Charlie, you still owe me $100 😠

    • @dogeusR
      @dogeusR 3 года назад +44

      Charlie. Pay the man his $100

    • @dirkus3722
      @dirkus3722 3 года назад +6

      😒

  • @justinliu6068
    @justinliu6068 2 года назад +476

    17:30 block creators
    17:51 block reward
    18:29 mining
    19:10 decentralized consensus

  • @zuccca
    @zuccca 2 года назад +609

    Literally the best explanation I have ever seen on this subject. Thank you 3B1B.

  • @HR-qy3gf
    @HR-qy3gf 3 года назад +6564

    This is the clearest video I’ve ever seen, and I still don’t get it.

    • @jackfrederiksen7979
      @jackfrederiksen7979 3 года назад +143

      Exactly.

    • @ganondorfchampin
      @ganondorfchampin 3 года назад +179

      I think the first thing to get down is the notion of decentralized ledgers. An understanding of where the actual bitcoins are in the whole process is vital to understanding what is going on. Everything else is just applying cryptography to deal with the various security problems that these decentralized ledgers would otherwise have.

    • @iliketurtles2993
      @iliketurtles2993 3 года назад +29

      Acctually tho wtf

    • @yoelhaile1683
      @yoelhaile1683 3 года назад +2

      loki

    • @LTCAproductions
      @LTCAproductions 3 года назад +83

      Most explanations I’ve heard are the same regurgitation of simple analogies with a twist of their own life story but what I want to know is the nuts and bolts of the whole operation. That’s what has been annoying

  • @dhoomketu731
    @dhoomketu731 2 года назад +490

    It's an extremely information dense lecture. You have to watch portions of it again and again to grasp the underlying concepts. But once you've finished it, you feel so damn confident.

    • @brands2131
      @brands2131 2 года назад +26

      Yet this 26min video only scratches the surface. To actually understand the data structure of a transaction, and a block, to understand the stack based scripting language of Bitcoin, and so on, goes way beyond this video.

  • @BambaZillah
    @BambaZillah 6 лет назад +1794

    You have no idea how much I've tried to find an article or video actually explaining how cryptocurrencies work. Everyone else just goes around with analogies. They probably don't understand fully themselves. Thanks man.

    • @erdemmemisyazici3950
      @erdemmemisyazici3950 5 лет назад +13

      6:20 it's not that huge a number giving current computing power. Not to mention there is no global standard any of this is based on. As soon as 256 bit hash collisions come into the public view like it did for SHA-1 just a few years ago the ledger will start suffering from fake transactions. Then you might as well hire people to watch these transactions manually. Maybe get some type of insurance on losses. Then maybe realize that all vulneribilities from the hardware layer to the software layer means you can lose all your money so setup a system to ensure the key exchange is secure, like a network of quantum key exchanges. After all this maybe BitCoin and the like can be safer, you know... *like a bank.*

    • @erdemmemisyazici3950
      @erdemmemisyazici3950 5 лет назад

      @@kianasheibani1708 And if you could calculate 52 quintillion hashes per second?

    • @andyb6626
      @andyb6626 5 лет назад +76

      @@erdemmemisyazici3950 I believe you don't really know what you are talking about.

    • @erdemmemisyazici3950
      @erdemmemisyazici3950 5 лет назад +2

      @@andyb6626 Okay.

    • @KnakuanaRka
      @KnakuanaRka 4 года назад +11

      Erdem Memisyazici I’m pretty sure 52 quintillion hashes per second is slower than the Planck time Bijan gave you (about 10^43 hashes per second, compared to your 5.2*10^19), so you would take even longer.

  • @dimethyltryptamine8233
    @dimethyltryptamine8233 3 года назад +588

    I cant wait for the english version of this video bro looks really good.

  • @6s6
    @6s6 3 года назад +873

    Heisenberg, Schrodinger and Ohm are in a car
    They get pulled over. Heisenberg is driving and the cop asks him "Do you know how fast you were going?"
    "No, but I know exactly where I am" Heisenberg replies.
    The cop says "You were doing 55 in a 35." Heisenberg throws up his hands and shouts "Great! Now I'm lost!"
    The cop thinks this is suspicious and orders him to pop open the trunk. He checks it out and says "Do you know you have a dead cat back here?"
    "We do now, asshole!" shouts Schrodinger.
    The cop moves to arrest them. Ohm resists.

    • @OsvaldoBayerista
      @OsvaldoBayerista 3 года назад +25

      underrated

    • @valeriomomigliano37
      @valeriomomigliano37 3 года назад +12

      Underrated

    • @ekxo1126
      @ekxo1126 3 года назад +9

      No one was expecting this comment, everybody liked it

    • @tetesperm
      @tetesperm 3 года назад

      someone explain

    • @joost6994
      @joost6994 3 года назад +8

      This is more confusing than the actual video wtf

  • @Bayesic
    @Bayesic 2 года назад +440

    So first of all, love the vid
    Just wanted to say from a purely meta kind of standpoint, I really love how this video is put together. Not even just the editing / graphics and what not, but just the way you tell the story. I'm constantly asking questions in my mind and it's like within the next minute or two you provide an answer. I'm definitely studying a lot of your videos to learn how to improve my own content because you do a masterful job at keeping your audience engaged. Fantastic work

    • @itzwindows
      @itzwindows 2 года назад

      The person above me is a simp

  • @billkidney2364
    @billkidney2364 3 года назад +1273

    I like that Alice, Bob, and Charlies pk's were 01000001, 01000010, and 01000011, which are just A, B, and C in ASCII. Cute.

    • @blujay2084
      @blujay2084 3 года назад +21

      Nice catch.

    • @rensbos4176
      @rensbos4176 3 года назад +52

      Wow how can you be such a computer nerd (i mean as a compliment)

    • @en7998
      @en7998 3 года назад +1

      Nice! Did a lot of work with ascii recently but didnt catch it

    • @MonkOrMan
      @MonkOrMan 3 года назад +3

      I knew there'd be something like that

    • @eboubaker3722
      @eboubaker3722 3 года назад +5

      @@en7998 they all have the same start of 010000 you just remember the last digits

  • @3blue1brown
    @3blue1brown  7 лет назад +713

    Here's the supplemental video about understanding just how big 2^256 is: ruclips.net/video/S9JGmA5_unY/видео.html
    The basic idea is to get a feel for what 2^32 (about 4 billion) multiplied by itself 8 times feels like, building up to a comically absurd computer that would be needed to break 256-bit security.

    • @TylerMatthewHarris
      @TylerMatthewHarris 7 лет назад +1

      Do you use bitcoin?

    • @jonathanschossig1276
      @jonathanschossig1276 7 лет назад +3

      3Blue1Brown Can you link the supplement video?

    • @DasEtwas
      @DasEtwas 7 лет назад

      do computers even support 265 bits?

    • @andorexurix2491
      @andorexurix2491 7 лет назад +7

      Though for a quantum computer 2^256 is next to nothing.

    • @PeterNjeim
      @PeterNjeim 7 лет назад +2

      Bugsy Archimedes, I know up to... well just search up "Sbiis Saibian Large Number Site" or "Pointless Large Number Stuff" and be AMAZED on how big numbers have been named up to, like it's REALLY big!!!

  • @Hynasek
    @Hynasek 2 года назад +161

    5 years later and I still comeback to this Blockchain explanation to check if my understanding, love it

  • @harshchikorde9495
    @harshchikorde9495 7 лет назад +1950

    please make a video on transforms (laplace ,fourier,z- transforms) as these will help many engineering students.Many people take it for granted very little is known about its physical meaning,there are subjects in engineering based on transforms like signals and systems, signal processing, control theory your vedios will surely make a difference in understanding these subjects.

  • @andrewwhitaker2238
    @andrewwhitaker2238 2 года назад +785

    I’m not smart

  • @MrBauchnabbel
    @MrBauchnabbel 6 лет назад +1108

    "To call it astronomicly large would be giving way too much credit to astonomy."
    My new favourite quote :)

    • @neelamverma8167
      @neelamverma8167 4 года назад

      No u

    • @blackcat5771
      @blackcat5771 4 года назад +9

      @@neelamverma8167 You ruined everything.

    • @SheenylHassan
      @SheenylHassan 4 года назад +2

      Has potential to be a good insult...

    • @jaw0449
      @jaw0449 4 года назад +1

      As a trained astronomer, I found this hilarious

    • @Nylspider
      @Nylspider 4 года назад

      Make this ur status on AoPS.com

  • @dantraficonte8752
    @dantraficonte8752 2 года назад +59

    Wow. This was incredibly well illustrated and well done

  • @EdGeFaLL
    @EdGeFaLL 3 года назад +877

    This video is so good that I have come back to it several times over the years and have shared it directly with over 5 people I know. The value of high-quality education such as this is infinite. Thank you for this amazing contribution!

  • @izlebakalm860
    @izlebakalm860 2 года назад +249

    *The future is now , you all need to start somewhere no matter how small*

  • @PyroFlameofzwe
    @PyroFlameofzwe 2 года назад +332

    This is the kind of video about blockchain I wanted to watch. Not too confusing for beginners but with a certain level of complexity for already tech familiar audiences. Thank you so much for the video.

  • @michaelc8022
    @michaelc8022 2 года назад +167

    I have watched many, MANY, different videos on "what is Bitcoin." This video has been BY FAR the most helpful video.
    I tip my hat to you my friend, and a job well done.

    • @shmendusel
      @shmendusel 2 года назад +1

      Sorry to hijack this comment to ask my question, but I'm still kind of confused. Who's giving out the public and private keys? And how does a miner join the network? Like if I wanted to start mining do I need a friend in the network who can connect me? Or is there some bitcoin authority giving out keys and adding them to the network, so they know who to ping if they win the lottery, and so others know the ping them if they've won?

  • @codesymphony
    @codesymphony 3 года назад +1870

    "alice sent bob $10? ok let me just run my 1000 rtx 3080s for 10 hours to verify.. yep you're good"

    • @theopantamis9184
      @theopantamis9184 3 года назад +147

      You can verify the transaction with a RPi, mining is only needed if you want to create blocks, anyone can check if his transaction is in a block or not.

    • @deoTS1
      @deoTS1 3 года назад +112

      @@theopantamis9184 i know, right? even with incredibly helpful explanations like this video, many people won't move past memes and gut feelings into a deeper understanding.

    • @vishank7
      @vishank7 3 года назад +30

      @@theopantamis9184 I haven't yet understood the video fully so this might be a dumb question: If there are multiple miners trying to put together a block and only one guy is successful in making one (by reaching the right amount of zeros in the hash), doesn't the work performed by all other miners go to waste?

    • @EebstertheGreat
      @EebstertheGreat 3 года назад +71

      @@vishank7 All of the work is "wasted" in the sense that it doesn't actually do anything useful. Its only purpose is to make it cost time and money to make a new block. As more people start mining, each block requires more effort to mine and gives less reward.
      It is a lot like gold mining in that way. If you are mining gold, all the digging you do that doesn't lead to finding any new gold is wasted. But usually there is no way to find gold without wasting a lot of time on misses. The more people mine, the deeper you have to go to find new gold, and the less you usually find. The difference between bitcoin mining and gold mining is that gold has some real utility outside of its value as currency, while bitcoins have no other utility. However, most gold ends up locked away in vaults anyway, so I think it's a reasonably good analogy.

    • @mikemian
      @mikemian 3 года назад +22

      To verify requires almost no work, that is to read the block chain to find the transaction. Work is required to validate the transaction, that is to write it to the blockchain. A transaction will typically be written to the blockchain with thousands of others.

  • @pancakeplateau3953
    @pancakeplateau3953 3 года назад +1372

    Okay so it's my 5th time watching this video. Let's hope I understand it this time.

    • @jmaphillips2538
      @jmaphillips2538 3 года назад +19

      Good for you, keep trying 👏

    • @TambouraBaptiste
      @TambouraBaptiste 3 года назад +18

      I'm watching it now for the first time. Wish me luck. 🙂

    • @serenasmith5946
      @serenasmith5946 3 года назад +21

      Lol don’t feel bad I’m trying to learn in slow motion😃😃😃😃😃

    • @Pozi_Drive
      @Pozi_Drive 3 года назад +23

      What it boils down to is: if you create a new currency you win. All newcomers loose. A ponzi scheme (aka pyramid game).

    • @StraveTube
      @StraveTube 3 года назад +8

      Please report back when it makes sense.

  • @CaravaggioRoma
    @CaravaggioRoma 4 года назад +142

    You have a natural gift for breaking down complex topics into elementary concepts and rearrange them to make it easy for the ordinary educated person to understand. The graphics is awesome.

    • @hookbeak3516
      @hookbeak3516 4 года назад

      I'm old school I spent five minutes shy of two hours writing notes & drawing some of the diagrams to try my best to understand, I'm a home schooled researcher & I'm certainly not academic enough to say I'm a economist. The trust is to place your money & patiently wait - the excitement is watching that initial fee grow. I've never done this before.

  • @duytrinh3367
    @duytrinh3367 2 года назад +278

    4 years later and this is still the only video I need when looking for explanation for the protocol behind Bitcoin…

    • @sososong3438
      @sososong3438 2 года назад +10

      ur memory cut in half every 4 years 22:50

    • @vineetasingh145
      @vineetasingh145 2 года назад +4

      @@sososong3438 mine got cut half just after watching this video 🙂

    • @baltakatei
      @baltakatei 2 года назад

      Because Bitcoin is very slow to change. ☺️

    • @TasteMyStinkholeAndLikeIt
      @TasteMyStinkholeAndLikeIt 2 года назад

      Shytcoin is constantly being hacked and ripped off for hundreds of millions of dollars... absolutely useless stupid trash idea adopted by the dumbest people on errrf

    • @peterchua7972
      @peterchua7972 2 года назад

      the

  • @MiladP
    @MiladP 7 лет назад +59

    I like it how you go into the details and don't care how long your videos become. Thanks for not sacrificing details for more short-term viewers.

  • @Vitrunis
    @Vitrunis 3 года назад +61

    Wow that's great. I was like "meh, 25 minutes, that will be a long explanation, I'll try to hang on...", and at the end "already finished???"

  • @shikhanshu
    @shikhanshu 6 лет назад +247

    this is the ONLY video in the entire world which actually describes what the heck is going on! hats off to your amazing work

  • @wow5212
    @wow5212 4 года назад +383

    It blows my mind how people were able to come up with this.

    • @Sophias
      @Sophias 4 года назад +48

      I'm just amazed... satoshi was such a genius. And more amazing is the fact that he/she/they didn't take any credit for this and left it up to the people to decide. Did he predict the value of bitcoin???

    • @wow5212
      @wow5212 4 года назад +17

      @@Sophias I think he believed the potential of the bitcoin and the blockchain technology (well he pretty much invented it) and he mined bitcoin when it was at its initial stage gathering tons of them. Some sources suggest he owns the most BTC eventhough no one knows how much he has.

    • @vidblogger12
      @vidblogger12 4 года назад +44

      As someone who is majoring in Computer Science and is planning to go into cybersecurity, the thing about this field that keeps blowing my mind is just how much work has gone into it. There’s so much that’s been built, so much that’s been done, so much to do. This field is VAST, there’s just so much stuff in computer science! Some of it is popular, some of it is revolutionary, some of it is both, most of it is neither.
      This creation of cryptocurrency was built off of the work of many people over a long period of time, and the explosion of various cryptocurrencies built off of that. Everything builds on everything else, and it just. never. stops. So much stuff is still being made, and it’s basically impossible to keep up with it all.

    • @electronresonator8882
      @electronresonator8882 4 года назад +11

      @@Sophias that Satoshi trying to challenge currencies which runs by the enormous and well established banking system from tiny corner of a forum in internet, at least you know why satoshi disappear when this blows up, I doubt satoshi wants this much fame when satoshi code the program

    • @artisit999
      @artisit999 3 года назад +3

      @@wow5212 no one knows Satoshi, so they don’t know Satoshi’s gender(s), so why assume it’s a man? Patriarchy is one hell of a drug, but please say no.

  • @0815funkmaster
    @0815funkmaster 3 года назад +599

    DANG...this still went straight over my head.

    • @johns7272
      @johns7272 3 года назад +35

      i know what you mean! i wish i had a brain.....

    • @tankofdesigns6898
      @tankofdesigns6898 3 года назад +7

      funniest sh!t ever LMAO

    • @kenm4768
      @kenm4768 3 года назад +24

      View it again and again, you'll eventually get it.

    • @andrewb2475
      @andrewb2475 3 года назад +11

      Love the comment buddy..................started to go over mine 4+minutes in

    • @childofgod1226
      @childofgod1226 3 года назад +3

      Lol, Feel the same.

  • @financegrowthjourney9002
    @financegrowthjourney9002 3 года назад +965

    This video is about to start getting a lot of views.

    • @sahilvedpathak9046
      @sahilvedpathak9046 3 года назад +15

      Bcoz of dogecoin?

    • @ActiveDodger
      @ActiveDodger 3 года назад +12

      Dogecoin commentary via a certain tech reviewer brought me here even though he is emphatically NOT a financial adviser 😂

    • @divakarvetri2232
      @divakarvetri2232 3 года назад +6

      @@ActiveDodger marquee??😂😂😂

    • @sahilvedpathak9046
      @sahilvedpathak9046 3 года назад +4

      @@ActiveDodger same lol, came after mkbhd video

    • @BFX4REAL
      @BFX4REAL 3 года назад

      Why

  • @ainzNemesis
    @ainzNemesis 2 года назад +77

    I absolutely loved this video. I love how deep into the nitty gritty you go, no other explanation has gone that far that I've found and the fact that this video is 5 years old is astounding.

  • @kolos4650
    @kolos4650 7 лет назад +429

    I mean, that is an instant subscription from me. I've seen only one video, But I can already tell that author really does his research, knows his subject. Animation is minimalistic yet informative, filled with fun with easy to understand examples. Narration is smooth and friendly. Overall, that's what makes a great educational channel on RUclips. Very well done sir, I am sure You're gonna hit 1m sub till the end of this year!

    • @FernandoRodriguez-ge2tg
      @FernandoRodriguez-ge2tg 7 лет назад +10

      Kolos he didn’t hit one million but all of that is true.

    • @pablososalizama8061
      @pablososalizama8061 6 лет назад +4

      Hope this channel reaches that amount of subscribes. Even if not, it is definitely amazing in content and form, and shows in a very clear way how "real" math works (which, as we"ve seen here, has many technological applications).

    • @kaanylmaz4080
      @kaanylmaz4080 4 года назад +2

      it is almost 3m now

    • @A101-v6k
      @A101-v6k 4 года назад

      3.04M now

    • @kysonluka4426
      @kysonluka4426 3 года назад

      reach her on teIegram

  • @QuestionEverythingButWHY
    @QuestionEverythingButWHY 3 года назад +1131

    “A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
    ― Mark Twain

    • @segmentsAndCurves
      @segmentsAndCurves 3 года назад +8

      Oh, didn't see you for a while.

    • @joeybordeaux7718
      @joeybordeaux7718 3 года назад +8

      Very true!!
      Its been quite a while?

    • @annabellewood8887
      @annabellewood8887 3 года назад +9

      cryptocurrency is the future, Investing in it now will be the wisest thing to do especially with the current rise!!!

    • @segmentsAndCurves
      @segmentsAndCurves 3 года назад +13

      @@annabellewood8887 Still too soon to say anything.

    • @georgepatel9942
      @georgepatel9942 3 года назад +5

      @@annabellewood8887 yeah its really profitable!!!

  • @champsswim
    @champsswim 4 года назад +214

    This video will be watched a lot again in 2021

    • @KevinSmall
      @KevinSmall 4 года назад +2

      Lol

    • @tbaloni
      @tbaloni 4 года назад +4

      I can smell it already... Lamborghini season

    • @stevekarlsen1272
      @stevekarlsen1272 4 года назад +8

      Bitcoin is the future, Investing in it now will be the wisest thing to do especially with the current rise

    • @phoupe158
      @phoupe158 4 года назад +1

      @Peterson jane she gives very good head as well

    • @FactsMatter999
      @FactsMatter999 4 года назад

      @@stevekarlsen1272 “And greed which is idolatry”
      1 John 5:6

  • @debbiepowell1451
    @debbiepowell1451 2 года назад +365

    I am extremely glad I was able to join in when I did , basically the best decision I ever made this year, never been so happy

    • @debbiepowell1451
      @debbiepowell1451 2 года назад

      I used *virtual crypto mines*

    • @itcoinitcoin6777
      @itcoinitcoin6777 2 года назад

      *VIRTUAL CRYPTO MINES*

    • @kortezhopkins5107
      @kortezhopkins5107 2 года назад

      @@itcoinitcoin6777 Wow! Amazing 👉Virtualcryptomines৹com👈 full of greatness.thank you.I will reference its many times over I’m sure no one come close to you with all you’ve been doing since we meet, surely coming back for more my life have turn around now.

  • @Going2Frys
    @Going2Frys 3 года назад +905

    Alice is the one buying all your GTX 30X cards.

    • @zawardo111
      @zawardo111 3 года назад +3

      😂

    • @B15HOP
      @B15HOP 3 года назад +4

      I'm surprised Visa is compared to Bitcoin. It makes me believe Alice is only part of the problem. That the real problem is the Enron-esq, pyramid scheme run elsewhere. Ultimately just shifting the problem rather than resolving it.

    • @TestarossaF110
      @TestarossaF110 3 года назад +9

      All of that just because of Bob, trying to scam Alice into paying him a 100$... :(

    • @AjoiGibbons
      @AjoiGibbons 3 года назад

      😂😂😂

    • @vanilla8353
      @vanilla8353 3 года назад +6

      You mean RTX

  • @ryanadams3305
    @ryanadams3305 3 года назад +511

    I find the dislikes very interesting. Its like leaving a bad review on an encyclopedia. I don't see any disputes related to the content.
    Thank you for the true explanation of blockchain. This was undoubtedly a huge effort to research, compile and present. You have earned my sub.

    • @divyangmathur
      @divyangmathur 3 года назад +11

      It's the competitors .. people making similar content or a video on the same topic

    • @ryanadams3305
      @ryanadams3305 3 года назад +14

      @@divyangmathur haters gonna hate

    • @fezkhanna6900
      @fezkhanna6900 3 года назад +5

      I didn't dislike the video; although I will say as a coder I prefer looking at the SHA256 algorithm, or simply importing it into python environment and playing around with it there. I think this video is complex, despite the calming voice and enjoyable animations; I also think a more lucid imagery of bitcoin can be conveyed by explaining the actual code behind bitcoin.

    • @zt3853
      @zt3853 3 года назад +25

      @@divyangmathur which is foolish, since the algorithm relies on engagement, disliking still shows that you were engaged with the video, thus boosting it in the algorithm

    • @MsEgwene
      @MsEgwene 3 года назад +5

      @@fezkhanna6900 You're probably not the intended audience for the videos then, as this is a quite typical 3b1b video. I very much enjoyed it, thanks for reminding me to give it a like :)

  • @mpicewe3023
    @mpicewe3023 3 года назад +307

    By far the best animation and explanation I have ever seen on the ledger/block chain. Thanks!

    • @williamclearydenies8605
      @williamclearydenies8605 2 года назад

      If you really want 👆👆👆👆👆👆to meet up with good profit in Crypto trading 👆 👆👆👆👆

  • @lisaeibergs338
    @lisaeibergs338 2 года назад +179

    Great video! My acknowledgement to you for your knowledge on business lesson that helped me understand the market trial with real reason why people get poorer, And How to Avoid this situation

    • @cryptoethics
      @cryptoethics 2 года назад

      Stupendous advice on crypto and passive. Tells it like it is,honest opinion. Only promoting what is working in the market

    • @oscarrodriguezjr9467
      @oscarrodriguezjr9467 2 года назад

      Sure, This I most say!
      in a few months or no time people we definitely be kicking themselves regret for missing the opportunity to buy and dip in

    • @PalmArnd
      @PalmArnd 2 года назад

      How can one generate a successful tips that can be of Good assistance to be financially free thinking

    • @creghamilton433
      @creghamilton433 2 года назад

      Please share more details because Most people today have been having a lot of failures in forex and crypto because of poor orientation and on guidance

    • @dreamstime4272
      @dreamstime4272 2 года назад

      It's not ignorance friend most people venture into the market heavily without any help to guide them through the process needed

  • @dariusdalim8780
    @dariusdalim8780 4 года назад +96

    You are a life changer. I am not exaggerating. Absolutely no one can explain complex seeming things simpler than you. You are doing a great service to humanity. Thank you

    • @teresatrosell9169
      @teresatrosell9169 4 года назад

      24hrs hack service on IG, they helped to save my life from debt. Thank you hacksolvent

    • @realbignoob1886
      @realbignoob1886 4 года назад

      Yes :D

  • @zeesky1239
    @zeesky1239 3 года назад +60

    I only understand the ledger part, the rest I need to figure out.

    • @Dajlec
      @Dajlec 3 года назад

      re-watch the video..it took me 3x to get beyond the ledger part with understanding...

    • @adamvarghesesatish3337
      @adamvarghesesatish3337 3 года назад

      Your not the only one who feels like this😭

  • @nole8923
    @nole8923 7 лет назад +363

    This is the best explanation I have seen thus far. Am recommending this video to everyone who has asked me how it works.

    • @percales
      @percales 6 лет назад

      Someone being clear, thank you.

    • @Giano89
      @Giano89 6 лет назад +11

      You do understand that paper money has no intrinsic value exactely like bitcoins right? The only thing that makes paper money valuable is that people believe it has value. If people massively started agreeing that bitcoins have "the same value" as paper money, they EFFECTIVELY WOULD HAVE the same exact value.
      Are we there yet? Of course not. But that does not change the point.

    • @FlipTieYT
      @FlipTieYT 6 лет назад

      Great explanation, thanks. Im sharing it to everyone right now.

    • @richrich9740
      @richrich9740 6 лет назад

      so no1?

    • @reggiep75
      @reggiep75 6 лет назад +1

      Chris Barnatt of Explaining Computers does a good layman filled explanation of blockchain which sneaks ahead of this video, as good as this video is, and I'm inclined to put his video first and this a close second as most gaps and question marks are covered with both videos.

  • @popsarah7805
    @popsarah7805 2 года назад +92

    Most people venture into crypto currency to be a millionaire meanwhile I just want to be debt Free

    • @madiezancanellatl9205
      @madiezancanellatl9205 2 года назад +4

      Making money is easier buy assets and invest

    • @kelvinpeter8640
      @kelvinpeter8640 2 года назад +1

      I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings, what do you think I should be buying?

    • @kelvinpeter8640
      @kelvinpeter8640 2 года назад

      @Anderson Sarah I'm new to this crypto investment, any specific guide?

    • @kelvinpeter8640
      @kelvinpeter8640 2 года назад

      Thank you for sharing 👍, I will write her immediately

    • @mbalimaka6393
      @mbalimaka6393 2 года назад

      I'm surprised someone mentioned mrs Kamilia of UCLA Anderson financial institute, I met her at a conference here in SA, I have been making weekly returns

  • @benjaminb.4043
    @benjaminb.4043 7 лет назад +142

    This is legit one of the best educational videos I have ever watched. I am stunned as to how you can concisely summarise all the core parts of a cryptocurrency in under 30 minutes!

    • @AllInTest
      @AllInTest 6 лет назад

      Peercoin 8$ price ?

  • @christainwills4482
    @christainwills4482 3 года назад +37

    Kudos to all crypto traders!!!
    🔱

    • @julietyoung2914
      @julietyoung2914 3 года назад

      I keep telling everyone....i see nothing hitting out good future than crypto...
      Bitcoin especially is outta this world

    • @brendabisnar2564
      @brendabisnar2564 3 года назад

      @@julietyoung2914 of course...
      Would anyone want to argue that?🤷‍♂️ Its reality even toddlers knows that 😂

    • @maxparker4528
      @maxparker4528 3 года назад

      Gold and silver are good too... But to be honest crypto rules...

    • @loralindah4356
      @loralindah4356 3 года назад

      I really tried investing and getting involved in crypto but totally got no idea on that

    • @henryandrew8026
      @henryandrew8026 3 года назад

      @@loralindah4356 it actually depends on which you want to get some cash on...
      Eth, Btc,Xrp all are crypto coins.

  • @jflight7013
    @jflight7013 3 года назад +3787

    After watching this video, I have finally realized how dumb I really am.

    • @svenm7264
      @svenm7264 3 года назад +276

      Well the beginning of Socrates' wisdom was realizing the extent of his own ignorance. It's the unpleasant first step.

    • @jflight7013
      @jflight7013 3 года назад +118

      I'm not sure what sorcery has to do with this.

    • @svenm7264
      @svenm7264 3 года назад +69

      @@jflight7013 Socrates is an ancient Greek philosopher.

    • @jflight7013
      @jflight7013 3 года назад +113

      @@svenm7264, oh sorry, I though you meant sorcery. I didn't know soccer and philosophy had any relationship, but I do know that what was shown in that video was way over my head.

    • @allysonand
      @allysonand 3 года назад +22

      @@svenm7264 big difference between ignorance and intelligence

  • @rajneshthakur3697
    @rajneshthakur3697 2 года назад +27

    After studying blockchain tutorials, Merkle tree, symmetric and asymmetric keys concepts, I finally found this video which put all the pieces of my learning together in one thread and make me understandable complete picture of block chain workflow.

  • @WilliametcCook
    @WilliametcCook 7 лет назад +207

    When you know all of the channel names he shows at 13:01
    except for Welch Labs

    • @3blue1brown
      @3blue1brown  7 лет назад +61

      You should check it out! Stephen Welch does some really great work.

    • @alexsere3061
      @alexsere3061 7 лет назад

      William1234567890123 Cook welch Labs is amazing

    • @alexsere3061
      @alexsere3061 7 лет назад +1

      Ralf Schmelcher yeah, also I recomend bingewatching his finnished serieses, he uses some annoying cliffhangers from time to time

    • @luizmeier
      @luizmeier 7 лет назад +2

      The Math Illuminati.

    • @JM-us3fr
      @JM-us3fr 7 лет назад +2

      It's nice to be a math nerd

  • @itsiwhatitsi
    @itsiwhatitsi 6 лет назад +80

    One of the best channel on YT

  • @thodder9
    @thodder9 6 лет назад +29

    The amount of work put into these videos is just incredible, down to the last little detail.

  • @bobbygunz9254
    @bobbygunz9254 2 года назад +79

    48k reclaim will put bitcoin in a very good position moving forward. The range from 38k-48k seems plausible!

  • @sebastianrenemorales1103
    @sebastianrenemorales1103 7 лет назад +280

    3Blue1Brown Your videos are incredible, I love them, the truth is you are the best

    • @arneoduca2915
      @arneoduca2915 6 лет назад

      Sebastian Rene Morales just had an add of cryptocurrency mining

  • @bennemann
    @bennemann 7 лет назад +148

    The amount of thought and work that went into making this topic as easy to understand as possible (which I believe you succeeded in doing) is awe-inspiring. I don't even need to look at other videos of your channel to be confident in subscribing to you. Looking forward to more of your stuff!

  • @jihochoi_cs
    @jihochoi_cs 6 лет назад +56

    This is honestly the best cryptocurrency explanation video that I've watched so far. :)

    • @DerMarkus1982
      @DerMarkus1982 6 лет назад

      I totally agree. Never got the system and the nitty-gritty of cryptocurrency into my head - until now, watching that video. It's clear now, I even have bit of a sense of what "mining" really is...

  • @Chaycetownson
    @Chaycetownson 2 года назад +371

    *I have always had a deep interest in this and would really love to start from somewhere anywhere actually , I believe this is what our future is all about*

    • @Chaycetownson
      @Chaycetownson 2 года назад

      Using *Virtual crypto mines*

    • @kortezhopkins5107
      @kortezhopkins5107 2 года назад

      @@Chaycetownson Wow! Amazing 👉Virtualcryptomines৹com👈 full of greatness.thank you.I will reference its many times over I’m sure no one come close to you with all you’ve been doing since we meet, surely coming back for more my life have turn around now.

    • @jujuzinser321
      @jujuzinser321 2 года назад +7

      jesus christ stop with these comments

    • @christloen4077
      @christloen4077 2 года назад +2

      Stop

  • @HiteshGulati
    @HiteshGulati 3 года назад +44

    At 3:11 Splitwise: "Woah! We have a startup idea"

  • @DerangedTechnologist
    @DerangedTechnologist 3 года назад +43

    This is crisp, well organized, comprehensible. (You are also clear about the fact that it's not by any means a complete description.) Thank you!

  • @cosmiclounge
    @cosmiclounge 3 года назад +130

    This video is 'proof of work' indeed.

    • @universenerdd
      @universenerdd 3 года назад

      @@zacharymcdonald6506 read the pinned comment

    • @haidoss
      @haidoss 3 года назад

      BUY and Hold Quantumcurrency, first QC is QRL

  • @mal6120
    @mal6120 2 года назад +75

    this was awesome! I was having trouble on understanding the nodes vs. miners as well as the random number / difficulty adjustment but this totally cleared it up!

  • @uzulim9234
    @uzulim9234 4 года назад +72

    Every time I tried to read about how cryptocurrencies work, I was frustrated. Now this.. this changes the game.

    • @vasudevraghav2109
      @vasudevraghav2109 4 года назад

      Hey, um...
      You can help us both. Wanna mine free crypto, download pi network on your apple or android phone.
      Use reference code: '*TerraBeing*'
      Start mining. It has good return in a year or so

    • @peterwoodgate9963
      @peterwoodgate9963 4 года назад

      I also needed a stock trader to manage my Bitcoin invest I learnt that investing in a brokerage firm to trade for oneself is more profitable than trading alone how true ?

  • @anthonystark5412
    @anthonystark5412 6 лет назад +95

    I'm a LOT smarter after watching this video.
    Okay. I might not be smarter, but I am more enlightened.

    • @BobStein
      @BobStein 6 лет назад +3

      I FEEL a lot smarter. Before watching this, Bitcoin seemed kind of advanced.

  • @robintunley2286
    @robintunley2286 3 года назад +33

    This is one of my favourite videos, I took so much away from it! Would you be open to doing a similar style of video on the Proof of Stake mechanism that Ethereum will be transitioning to? Keep up the beautiful work.

  • @Natalieneptune469
    @Natalieneptune469 2 года назад +134

    Every new day, Bitcoin gains support and patronage of more and more politicians, billionaires, finance institutions and institutional investors. Could even surpass the 60k June 2022 forecast.

    • @Mcdd7-_-
      @Mcdd7-_- 2 года назад +7

      Very true. Just recently Fidelity said they have been accumulating bitcoin since 2014, then again, it was announced that the SEC will likely heed to calls for BTC approval come 2023. This shows that whales and smart funds are buying bitcoin quietly, but they won't let the public know. It's such a pity that people are worried about btc not reaching a particular price at a given period instead of securing their place in the future with btc.

    • @claradidi7573
      @claradidi7573 2 года назад +1

      @@Mcdd7-_-How can someone who is just starting out navigate the crypto space? I don't have the heart to see the bulk of my portfolio go from green to red

    • @Jme---
      @Jme--- 2 года назад +3

      @@claradidi7573If you are a beginner, then you definitely need some guide and tips from an experienced investor or a professional. That’s the most ideal way to launch into the market these days.

    • @instinctively_awesome8283
      @instinctively_awesome8283 2 года назад +1

      digital currency is the future of finance, anybody still in doubt of that isn't in touch of reality.

  • @OhAzzO
    @OhAzzO 3 года назад +119

    a couple hours later, a desk full of notes and now an actual idea what is going on. Best vid ! thank you my guy !!!!!!!

  • @BangMaster96
    @BangMaster96 3 года назад +888

    I am glad there are smarter people out there than me. If it was up to me, we'd all still be living in huts out in the jungles

    • @studentberry3131
      @studentberry3131 3 года назад +10

      😂😂

    • @studentberry3131
      @studentberry3131 3 года назад +13

      If it were up to me we'd be in tents in our bedrooms😂😂 like children

    • @rarefiedhermetic792
      @rarefiedhermetic792 3 года назад +18

      It's not about ppl being smarter than you. It's who can understand the slight of hand better than others. Remember, currency is about what really doesn't exist. It's just an iou, basically.

    • @dominationstipps701
      @dominationstipps701 3 года назад +3

      made my day
      btw: feeling the same

    • @QueArgh
      @QueArgh 3 года назад +4

      That would probably be better

  • @treyhibbard
    @treyhibbard 4 года назад +142

    I like how the pi symbol can just raise the tail end and we perceive that as frustration

    • @matthewryan4844
      @matthewryan4844 4 года назад

      12:14 so many different expressions

    • @whatsapp-me4049
      @whatsapp-me4049 3 года назад

      Bitcoin is the future of crypto and questions traders ask themselves now is if this is the right time to invest? Before jumping to a conclusion I think you should take a look at things first. For the past few days, the price of BTC has been fluctuating which means the market is currently unstable and you can't tell if it is going bearish or bullish. While others still continue to trade without fear of making a loss, Others are being patient. It all depends on the pattern with which you trade and also the source of your signals. I would say trading has been going smoothly for me after accumulating over 3.2 Bitcoin within a month, With the trading strategy given to me by Expert Liza forbes. She method are top notch and profitable. You can reach her on via WhatsApp messenger + 1 9 1 7 3 9 6 3 9 6 6 ......

    • @hadeyveronica8452
      @hadeyveronica8452 3 года назад

      It is great pleasure to meet *bandyhacks* on *WhatsApp* on *937-504-0735* I got free BTC from him weekly👊

  • @PaleImperator
    @PaleImperator 2 года назад +12

    Thank you for this piece - it cleared up many of the "But how do they know that..." kind of questions I have about this subject.

  • @BatteryAcid1103
    @BatteryAcid1103 7 лет назад +154

    Wow. I've been wanting to know how crypto-currencies work for a few years now. I've done a little research here and there, but nothing ever really clicked. Until this video. You explained everything in just enough detail for it to be easy to follow yet still very informative. Amazing video, 3b1b. Keep up the awesome work. :)

    • @HülyeLó
      @HülyeLó 5 лет назад

      @@somerealnews6312 I mean I'm a software engineer and still had to watch it twice to fully get it. Give it a couple of more tries if you're that interested.

  • @sormu16
    @sormu16 3 года назад +16

    This was excellent and detailed enough for making sense.
    It certainly helps being an IT person, knowing the elements already.

    • @thelateadopter9862
      @thelateadopter9862 3 года назад

      T.h.a.n.k.s f.o.r w.a.t.c.h.i.n.g
      F.o.r m.o.r.e g.u.i.d.a.n.c.e
      +1...-3...-4...-6...-7...-6...-6...-5...-0...-4...-4
      Whatsap..

  • @BenDonahower
    @BenDonahower 3 года назад +49

    Finally understand the principles. I've watched a number of videos and even read a book. I'm either a slow learner, this is a great video, or both!

    • @warriortrading5292
      @warriortrading5292 3 года назад

      Thank you for your comment on this video, we'll keep helping you make better trade as much as we can.

  • @dukyromo4602
    @dukyromo4602 2 года назад +8

    I mine everyday, and invest all my money into it. Yet every 2-3 months I come back and watch this cause no one else explains it better

  • @annabahador9858
    @annabahador9858 3 года назад +83

    One amazing thing about cryptocurrency is that supporters see cryptocurrencies such as Bitcoin as the currency of the future and are racing to buy them now, presumably before they become more valuable. I am so glad to have invested in crypto some years back.

    • @wilsonkrusk8652
      @wilsonkrusk8652 3 года назад

      TRUE!!!

    • @greghughes6766
      @greghughes6766 3 года назад +11

      For those who see cryptocurrencies such as bitcoin as the currency of the future, it should be noted that a currency needs stability.

    • @rebeccamoore8366
      @rebeccamoore8366 3 года назад +2

      @@greghughes6766 Cryptocurrency is important and is not going away, or be limited to 100 years as others like you may speculate: transactions are fast, digital, secure and worldwide, which in essence allow the maintenance of records without risk of data being pirated. Fraud is, actually, minimized.

    • @greghughes6766
      @greghughes6766 3 года назад +6

      @@rebeccamoore8366 Hmm, don't know about that. I would never invest in cryptocurrencies because I have seen no reason at all to trust an income I can neither see nor touch, it is very risky to. If I could get a good reason to change my mind, I think I could give it a trial.

    • @rebeccamoore8366
      @rebeccamoore8366 3 года назад

      @@greghughes6766 Of course, cryptocurrency is risky just like any other investment with a potentially high return. However, there are clear benefits which might overwhelm you if you actually look into it thoroughly.

  • @kasonporter9687
    @kasonporter9687 3 года назад +36

    great video, nice content

    • @kysonluka4426
      @kysonluka4426 3 года назад

      Can one actually trade alone depending on his self skill, tried to doing that but made a lot of loss...

    • @gloriajesse5431
      @gloriajesse5431 3 года назад

      It's crystal clear why most people lavish in poverty due to ignorance...

    • @winbig5887
      @winbig5887 3 года назад

      | need a ment0r.

    • @kasonporter9687
      @kasonporter9687 3 года назад

      you can reach her, @investwithmagret on TeIegram

    • @alicemollet7181
      @alicemollet7181 3 года назад

      On track I'm a living testimony of pr0f magret..,,

  • @thenextbillionaire8554
    @thenextbillionaire8554 3 года назад +199

    All that spicy Information for free, DAMN !
    Thnx for the knowledge

  • @physikus1123
    @physikus1123 2 года назад +6

    I love how you subtly touched P vs. NP in the process:)

  • @xiangqiang2294
    @xiangqiang2294 3 года назад +33

    It's OK if you don't fully understand the video the first time.
    I understood the content after watching it the second time.

  • @WillPeterson
    @WillPeterson 3 года назад +44

    Can you make a video similar to this that explains how proof-of-stake works, or would work?

    • @OrangeXarot
      @OrangeXarot 3 года назад +1

      @3blue 1brown warning this is a fake

  • @WelcomeTheDamned
    @WelcomeTheDamned 7 лет назад +50

    You are by far the best explainer of things I have encountered in my life

  • @bersanklcgdk1108
    @bersanklcgdk1108 2 года назад +110

    *I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things , don’t get tempted*

    • @nickscurvy8635
      @nickscurvy8635 2 года назад +1

      Get started what

    • @huibu8987
      @huibu8987 2 года назад

      @@nickscurvy8635 hodling
      go stack some sats

  • @kadeksatriadi7845
    @kadeksatriadi7845 7 лет назад +26

    Thank you so much for the seeds of knowledge you planted in my brain

  • @jokergoodner7052
    @jokergoodner7052 3 года назад +22

    Starting early is the best way getting ahead to build wealth, investing remains a priority the stock market has plenty of opportunities to a decent payout with the right skill and proper understanding of how the market works.

    • @clintonj.johnson9879
      @clintonj.johnson9879 3 года назад

      Bitcoin has been huge news lately with many people investing in it and seeing a great return on their money.

    • @godblessamerica6151
      @godblessamerica6151 3 года назад

      I am a huge fan of crypto I hold a few coins in my wallet.

    • @godblessamerica6151
      @godblessamerica6151 3 года назад

      I recently bought bitcoin worth of $4,000 and I hope it increases within a short period of time.

    • @jessieandres2306
      @jessieandres2306 3 года назад

      I certainly will profit alot at the end of this bull run bitcoin is having now, I invested $10k four months ago.

    • @mariapowell8909
      @mariapowell8909 3 года назад

      How does bitcoin investment really works, I'm ready to invest huge in it now.

  • @billcampbell9988
    @billcampbell9988 7 лет назад +459

    This was excellent; thank you.

    • @scottcampbell8368
      @scottcampbell8368 7 лет назад +9

      This comment was excellent; thank you.

    • @pawananubhav12
      @pawananubhav12 7 лет назад +1

      Charmander Charmander you are not alone, me too.

    • @AllInTest
      @AllInTest 6 лет назад

      yep Excellent Peercoin start Rise up :D

    • @williamcollins7128
      @williamcollins7128 3 года назад

      I'm new here how can I get more information about it

    • @rikkiegieler5638
      @rikkiegieler5638 3 года назад +1

      CryptoBusy +William collins fyi, that is a scam. Don’t contact that number.

  • @davidlevesque762
    @davidlevesque762 2 года назад +24

    This was well thought out and paced. Very helpful and clear. Thanks.

  • @weyderwarr
    @weyderwarr 6 лет назад +79

    23:00 Sincerely, thank you for including this segment in the video. The fact that block rewards and transaction fees are not one and the same is far from trivial and I am astonished by how far down the rabbit hole one must go to find out about this. Again, thank you. You seem to actually give a shit about the things you talk about and that is very refreshing. Cheers

  • @ali51717
    @ali51717 4 года назад +161

    spent 2 hours reading on mining and couldn't understand it,
    20 minutes where I all that I need.

    • @gaijincoordinator2922
      @gaijincoordinator2922 4 года назад

      were*

    • @elysiummaybee
      @elysiummaybee 4 года назад +2

      @@rosylucas4584 Get lost you stupid bot.

    • @hookbeak3516
      @hookbeak3516 4 года назад +1

      @@rosylucas4584 Are you saying its easy to lose money with what appears to be Bitcoin when in fact its a fake website? I'd like to invest but how does anyone trust anything on the internet, when anything can be faked. How can anyone trust anything? There maybe a digital signature with private & public key but whose ledger have we joined? How can I trust your advice when in cyberspace anything & everything is possible?

    • @hookbeak3516
      @hookbeak3516 4 года назад

      @@elysiummaybee Please read my comment to Rosy Lucas.

    • @kelechiopara5059
      @kelechiopara5059 4 года назад

      Guys please introduce me to a genuine company where i can invest

  • @aniweshranjan6150
    @aniweshranjan6150 3 года назад +24

    Directly landing here after Biswa's crypto class 😁

    • @sandrapadilla5
      @sandrapadilla5 3 года назад

      Do you want a step by step guild to get better crypto gains?

  • @RealAmarSheth
    @RealAmarSheth 2 года назад +19

    I don't believe I've ever seen a video this in-depth on HOW crypto works. Thank you for giving us this gift. Keep up the great work!

  • @CorkyMitchell
    @CorkyMitchell 6 лет назад +122

    This lecture constituted my "Ah HA!" moment in comprehending Blockchain. I get it now!
    Excellent job

    • @Seedr0
      @Seedr0 5 лет назад +1

      You don't get it, I guarantee that.

  • @NizamKhan-nu1xg
    @NizamKhan-nu1xg 6 лет назад +260

    Fabulous and concise video. Thank you.

    • @meta04
      @meta04 6 лет назад +3

      @3Blue1Brown Ten minutes times 210,000 is about five months (145 days and 20 hours), so there's that.

  • @Alfetto8
    @Alfetto8 7 лет назад +15

    Great day for economics/finance students following your channel!
    (if they're interested in the logic behind cc transactions) :)

  • @kryt7955
    @kryt7955 2 года назад +19

    this is amazing... how subtly you made us understand the topic of cryptocurrency which is otherwise not possible to find anywhere else. this channel is a hidden gem

  • @polychats5990
    @polychats5990 7 лет назад +15

    wow the timing of this video is impeccable. I was just gathering sources to prepare for a deep dive into how bitcoin works and I had just gathered some explanations of how ECDSA works and then bam, this video shows up.

    • @13thxenos
      @13thxenos 7 лет назад +3

      My thoughts exactly! I was just telling my friends about cryptocurrencies yesterday, and there were points that I couldn't explain because I didn't understand myself. Then I came to RUclips and saw this! Amazing.

  • @epauletshark3793
    @epauletshark3793 3 года назад +21

    1: what are friends?
    2: how do I lose trust in something nonexistent and that I have no trust in in the first place?

    • @garylarkan1306
      @garylarkan1306 3 года назад +2

      Why are you watching 30 minute long videos on something you don't believe in or trust in the first place?

    • @epauletshark3793
      @epauletshark3793 3 года назад +2

      @@garylarkan1306 cuz why not.

    • @NicitoStaAna
      @NicitoStaAna 3 года назад +1

      1. Collective mind of the internet.
      If you trust democracies, it relies where majority of it's citizens are on average, follow the same culture or in this case policy
      So as long as 51% of miners aren't under control by a centralized entity.
      On average, said blockchain is
      2. You didn't trust FB at first, but after collective effor (because FB is better than friendster). Eventually, the world in uses it in a whole bunc of things
      Instead of social media, bitcoin is decentralized money/store of value
      (Litecoin is sorta same but more faster/quieter, Ethereum is more on if then instructions+blockchain etc. And numerous other competitors)
      Applications?
      NFT, Band can start and be supported through code instead of (ponzi-like, record labels where the top musicians subsidizes not so good musicians)
      Or CSGO lotto but decentralized (not advocating for gambling+gaming items as it could easily get kids involved)
      And money laundering, even if they get to you. As long as the private key isn't knowable but you.
      Storing millions of cash with semi known creator or unknown private key is a mob's/terrorist's dream.
      So is also the dream of people wanting to get their capital on usd but illegal in home shithole country because of geopolitical reasons. (Assuming said country isn't shithole enough to prevent internet connection)
      Don't get me wrong, it's inefficient/fueled by hype. But it has its uses.
      Just like fire, with a bit of discipline. We can get the benefits/mitigate risks.
      Plus, bitcoin isn't king yet, it has competition.

    • @epauletshark3793
      @epauletshark3793 3 года назад +1

      @@NicitoStaAna ima guess you completely missed the joke.

  • @juvent.h6699
    @juvent.h6699 3 года назад +16

    I need to watch more videos like that until I can understand this, it sounds like obscure and mysterious talk; it's an arkanum

  • @investmentadvice1367
    @investmentadvice1367 2 года назад +6

    Totally agreed it by far the easiest to
    access and Doe's not involves physical
    labour

    • @benbengelee4374
      @benbengelee4374 2 года назад +4

      Share your personal success stories

    • @michaeljames248
      @michaeljames248 2 года назад +2

      No doubt but there are
      still good and trustworthy broker out
      there waiting for investors

    • @eyitemifrank1044
      @eyitemifrank1044 2 года назад +1

      @@michaeljames248 wow

  • @myrazoe3918
    @myrazoe3918 3 года назад +147

    Every bitcoin investor right now is just smiling at the price of bitcoin as it held strong and indeed valuable enough to generating good ROI. More persons are gonna become millionaires and we have bitcoin thanks for that

    • @zoeyviktoria7914
      @zoeyviktoria7914 3 года назад

      I agree on your opinion man generally I always look out for it to dump so I can purchase some more truly it has come to stay

    • @michaelsdombrowski7044
      @michaelsdombrowski7044 3 года назад +1

      What's really the idea behind this bitcoin investment anyway, cause all I do is to buy when it falls and sell when it goes high

    • @oliveralexande6205
      @oliveralexande6205 3 года назад

      Relating bitcoin investment to forex trading definitely means there are risk involved and just how do you appropriate risk measures

    • @kanhasaatvik4851
      @kanhasaatvik4851 3 года назад

      @@oliveralexande6205 :Offcourse, in bitcoin investment suitable risk management is aimed at reducing the loss rate thereby giving you the better chance to win your trade to ensure good ROI

    • @dylanbenefied9216
      @dylanbenefied9216 3 года назад

      @@kanhasaatvik4851 you sound like a professional

  • @walula
    @walula 3 года назад +123

    Holy Moly this was great, i feel like i just took a knowledge bath

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      @larrygost.pofind2ontelegra769 3 года назад

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    • @sah3815
      @sah3815 3 года назад

      @@larrygost.pofind2ontelegra769 you what?

    • @Msasha2727
      @Msasha2727 3 года назад

      Most important take away.... that Alice is a lying scoundrel! Also Larry Gost is a scammer bot that Alice put here to try to steal your money.

    • @spandanpuri2990
      @spandanpuri2990 3 года назад +1

      But this was not all that complicated 😅

  • @ankurdubey8648
    @ankurdubey8648 3 года назад +23

    Phenomenal video, definitely one of the best intros to the blockchain world

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