What is Bitcoin? Bitcoin Explained Simply
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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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See anything we haven't covered? Leave us a comment in the comment section below
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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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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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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Maybe I should watch this again when I'm not drinkin'.
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I believe Qardcoin token will go 100x after launch on Binance
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Finished watching the video and I only have one question…what is Bitcoin?
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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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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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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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At the end of this video, i can safely say....im still in the 99% of the population..who are clueless.
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Mind blowing in 2021! Why didn’t i see this in 2018 :((((
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BTC for $75K by end of this year& Control of The Currency is already Decentralised And now the China disruption would simply Decentralise the Mining setup for the better
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agree bitcoin will ascend to the capital throne no matter what happens to the economy!
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This is an awesome explanation. I think the reason why it is so difficult to understand what bitcoin is is because many don’t understand what it means when money is described as “centralized” and you explained that very well. I finally understood it thanks to you! :)
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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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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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Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result hard work and hustle over time. I pray that anyone who reads this will be successful in life
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Loved it! I watched a lot of explainer videos about Bitcoin and none of them explained it so well. Thanks!
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Great video! Some key points were highlighted that I hadn't heard anyone else discuss. Thank you!
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Awesome. Just finished listening and taking notes. Thank you Nate!
