What is Bitcoin? Bitcoin Explained Simply
6,669,994
Published 2018-04-04
Bitcoin is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger called the blockchain, which is accessible for everyone to see.
Bitcoin gives you complete control over your money, unlike other assets you own which are regulated by banks and governments. As bitcoin gains more popularity, more and more places accept it as a payment method.
That's Bitcoin in a nutshell. For the complete simple explanation watch this video, here's what I'll cover:
0:50 - What is money?
3:10 - Fiat money
3:43 - Fiat money drawbacks
4:25 - Digital money
5:34 - Centralized money issues
7:21 - Enter Bitcoin
7:44 - Bitcoin is transparent
9:13 - Bitcoin is decentralized
9:35 - Bitcoin is digital
9:56 - Why is Bitcoin such big news?
11:45 - Who accepts Bitcoin?
12:05 - Conclusion
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All Comments (21)
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CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers. Stay safe 🙏🏻🙏🏻🙏🏻
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What is the best strategy to succeed in the market now for someone with more or less than $3k
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"I've discovered that the key to reaching a million dollars is saving for smarter investments. I constantly remind myself that I don't need to splurge on a new Maserati or lavish vacations right away. This mindset has significantly boosted my earnings through investing. For instance, last year I invested $30,000 in crypto and earned around $246,000. Instead of spending it, I reinvested everything and now I'm approaching a million dollars."
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I’m looking for a way to automate my Solana token purchases. Any suggestions?
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Been looking for an understandable explanation - and without the editorializing virtually all other explanations. Nothing comes close to yours. I also appreciate your updates, in the comments. This is an extremely valuable channel. Thanks for keeping it active. I'm on to your other bitcoin videos.
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Me before the video: yeahhh i will finally have an idea about bitcoin Me after the video: danm i still dont get it
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I believe Qardcoin token will go 100x after launch on Binance
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Maybe I should watch this again when I'm not drinkin'.
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1 Bitcoin will worth millions of dollars in no distant time, People who ignorantly did not adopt the system will be more poorer. The earlier the better to have and hold bitcoin because it's the future.
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Finished watching the video and I only have one question…what is Bitcoin?
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Mind blowing in 2021! Why didn’t i see this in 2018 :((((
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I really love the way the explanation was made.
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Great simple explanation. Great job
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Clearly, this guy is a genius. BitCoin is still a new (difficult) concept to MOST of us, but see this video right here? Comprehensive, concise, complete. Well done, Nate! Thank you! Subscribed
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Awesome video! I like this channel cus it is straight forward with it's content and broken down in plain English. You got a new subscriber ⚡💪
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I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million. ..
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I had 4 tears of economics classes in college, and this is better than any class/lecture I ever had. This guy explains it thouroghly.
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U got urself a new subscriber 🔥
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Very informative! Thank you!
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agree bitcoin will ascend to the capital throne no matter what happens to the economy!
