Bitcoin Whitepaper Simply Explained & Visualized!

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The Bitcoin Whitepaper is one of the most significant documents in crypto history. If you want to learn how crypto works and why Satoshi created Bitcoin, the whitepaper is the best place to start. But it is pretty technical. In this video, I do my best to simplify the Bitcoin Whitepaper.
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Chapters:
00:01 - Bitcoin Whitepaper Problem
00:29 - Bitcoin vs Gold
01:11 - Problem with Digital Currency
01:35 - Why Bitcoin Was Created
02:12 - How Bitcoin Works
03:20 - Bitcoin Billionaires Analogy
04:38 - Bitcoin Transactions
06:30 - Timestamp Server
06:50 - Proof of Work
07:02 - Bitcoin Hash Explained
08:03 - Network
09:20 - Incentive
09:38 - Bitcoin Halving Explained
10:04 - Reclaiming Disk Space
10:25 - Simplified Payment Verification
10:45 - Combining & Splitting Value
11:01 - Bitcoin Privacy
11:44 - Calculations
12:28 - Who Is Satoshi Nakamoto
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Disclaimer: The information provided is for informational purposes only and should not be considered financial, legal, or tax advice. The content reflects the speaker's opinions and is not from a licensed financial advisor or registered investment advisor. Please note that this description contains affiliate links. If you make a purchase through one of these links, the channel may earn a commission (at no additional cost to you). Thank you for supporting us!
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Wishing you safe and successful crypto adventures.
- Alex Gomez 🫶
#bitcoin #bitcoinwhitepaper #crypto #satoshi #btc #bitcoinnews #bitcoinmining #bitcoinwallet #bitcoins #satoshinakamoto #bitcoinnews #bitcoinexplained

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Опубликовано:

25 сен 2023

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Комментарии : 21

@Lafsha Месяц назад

your analogy about fruit to juice was Great , keep going good luck

@HPTeguh 17 дней назад

11:14 interesting

@renoken 9 месяцев назад

Great content 🙏🙌

@cyberscrilla 9 месяцев назад

Thanks!

@sheesh6118 Месяц назад

ty for great video understood 80% and will watch 2-3 times more to understand everything. Keep posting these types of content

@cyberscrilla Месяц назад

Thanks, will do!

@simonmaersk 9 месяцев назад

Incorrect - nodes and miners are two different things. Miners run hashes to win block rewards. Nodes don't run hashing, they only verify the ledger and do not get any block rewards.

@cyberscrilla 9 месяцев назад

Technically all miners are nodes, as miners run nodes. But not all nodes are miners. But I get what you’re saying, they each have separate jobs. Thanks for clarifying - Alex

@simonmaersk 9 месяцев назад

@@cyberscrilla Yeah, true that. And I know this video is about the information in the whitepaper. Back then, I believe nodes were also miners, but that was changed later on.

@cyberscrilla 9 месяцев назад

Exactly, since it’s become more difficult to mine, specialized hardware (miners) have been created to withstand the increased computational demand. Good stuff! Love learning the basics

@dandruff3414 17 дней назад

They say Bitcoin is limited to 21 million blocks. However, I do not find any statement in the white paper that proves it is not possible to increase the block's limit. Thus, is it really that rare?

@cyberscrilla 17 дней назад

Bitcoin is not limited to 21 million blocks. It’s limited to 21 million coins which will be reached through mining. The 21 million coin limit is hard-coded into Bitcoin’s protocol. Specifically, the reward for mining blocks is designed to halve every 210,000 blocks, which limits the total number of bitcoins that can be mined to 21 million.

@dandruff3414 16 дней назад

@@cyberscrilla got it. Thanks. Never really understood about it