What is Bitcoin Mining? (In Plain English)

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Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as the blockchain. Mining is done by running extremely powerful computers (known as ASICs) that race against other miners in an attempt to guess a specific number.
The first miner to guess the number gets to update the ledger of transactions and also receives a reward of newly minted Bitcoins (currently the reward is 12.5 Bitcoins).
Today, in order to be profitable with Bitcoin mining you need to invest heavily in equipment, cooling and storage. It’s not possible to mine profitably with a PC or a GPU at home. You can calculate your profitability using a Bitcoin mining calculator.
0:20 - Bitcoin mining in a nutshell
3:13 - Mining difficulty and block time
4:22 - Evolution of Bitcoin mining hardware
6:30 - Bitcoin mining pools
7:24 - Is Bitcoin mining profitable?
10:41 - Other types of mining
13:14 - Frequently asked Questions
15:20 - Conclusion
For the complete text guide visit:
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Join our 7-day Bitcoin crash course absolutely free:
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Learn ANYTHING about Bitcoin and cryptocurrencies on our channel:
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See anything we haven't covered? Leave us a comment in the comment section below

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28 май 2024

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Комментарии : 3,6 тыс.

@lonestarr1707 4 года назад

Ok now I need to find a video that explains this video

@idkman1195 4 года назад

@@bashxmlong6707 dont, please dont...

@bashxmlong6707 4 года назад

I'm new to this

@joselolara2980 4 года назад

😂😂

@RE38B0 4 года назад

😂😂😂🤣🤣🤣👌🏻👌🏻👌🏻👌🏻👌🏻👌🏻👌🏻

@adriankasa4339 4 года назад

😂😂😂

@tjedwards4254 3 года назад

I'll never be sober enough to understand this.

@SUA37 3 года назад

😂 funny comment

@claracummings7959 3 года назад

Lol

@lowercaseguy3578 3 года назад

Then I might be extra special to understand this video . My programming degree paid off

@TaylorOriginal352 3 года назад

I feel ya I have no idea I still cannot understand why was this a thing

@josesosa3045 3 года назад

your dumbass wont understand this sober if your stupid enough to waste money on drugs xD

@sandeepozarde2820 3 года назад

Quick questions: 1. Why do miners need to solve complex computational math problems? 2. Who create these puzzles? 3. For whom they are solving these maths problem? - it’s like I pay money to buy Pizza, here am solving the puzzle but why? Why puzzle? 4. Creator of puzzle will get what? 5. Is there any intrinsic value attached to crypto currency? or it’s all notional? - we still need fiat currency to buy bitcoins right? like to buy gold you need fiat money - same fiat money is used to buy bitcoins right? then what’s the difference here? it’s like buying a property or gold, now we have digital money, but I cannot buy bitcoins without fiat money.

@designergoose1938 2 месяца назад

Why

@Shemdoupe Год назад

The difficulty adjustment is so freaking genius

@gtbsaraiva 7 месяцев назад

The whole system is very clever, but the dificulty adjustment system is really a genius idea

@johnstanley7874 3 месяца назад

Watching this in 2024. Bought 2 Bitcoins in 2015 for $250 USD each, paid for a lakers game with 1 bitcoin, couldn't be bothered to use the other.. glad I forgot I had it till 2023,

@hbspxjihuhcd 2 месяца назад

No way bro.😭😭😭🤝🏾

@rosenskietolentino8420 2 года назад

Now this is probably the best beginner-friendly explanation out there, kudos to your team

@stonerstation9159 2 года назад

Buy a computer and software then letting it do its work.

@mndnmne 2 года назад

It is utterly amazing that this has monetary value

@googleuser1043 2 года назад

Instead of counting sheep, I will just watch this to fall asleep.

@thommysides4616 2 года назад

lol

@Ayesha69420ohno 2 года назад

😂

@greenettmacheke98 2 года назад

😂🤣🤣

@Ali-oi2wx 2 года назад

Literally what I did lol

@bok0219 2 года назад

hahaha

@planetkaren4243 2 года назад

Me : watched the entire video carefully Also me : wait what ?

@barbarachambers7974 2 месяца назад

It's why I will watch 10 times... Or more.

@athanasiosgalanis5854 3 года назад

Michael scott: explain it to me like I'm 8 years old: Michael scott: ...... explain it to me like I'm 5 years old

@matt_ccw470 3 года назад

That’s what she said

@katapascott3571 3 года назад

Do you wanna invest or generate

@rehpic2606 3 года назад

yes because Michael Scott is now farming Bitcoin!

@TowDow3 3 года назад

explain to me like i 2 old lol

@gabbishleegifted4752 3 года назад

“..Your mommy and daddy gave you 2 GPUs from Nvidia specifically designed for mining” ... “next year....” 😂

@JimmothySmantanseleton 3 года назад

I mined a coin yesterday 👍 good luck fellow miners

@ZomboidMania Год назад

So basically your set for life

@JimmothySmantanseleton Год назад

@@ZomboidMania you’re

@Bi_shop16 3 дня назад

Hmmm

@jenniferjoseph9206 2 года назад

To anyone reading this, remember Rome wasn't built in a day. your hard work will pay off

@aklh7427 2 года назад

Aw that’s cute

@nothosaur 3 года назад

Question: How is a bitcoin created? Answer: When a computer solves a math problem. Question: Who wrote the math problem? Answer: __________________

@IDK-kv8ob 3 года назад

For real. If I had more time to care I'd dig deeper but I don't.

@fullemptiness 3 года назад

Typically a known and well-designed algorithm, designed specifically to generate a fixed space of random and complex numbers that fit certain criteria, the only way to guess a number is walking through all possible numbers until a number is matched, and due to the complexity of the algorithm, guessing a number with the help of current computers might take years... Think about a password like "Aj&5-7xd?Hop‰>;4*32" How much time needed to guess it given the criteria of the complex password (capital and small letters, symbols, numbers..etc)? It might take years! If you know little math you can read about RSA for example to understand how cryptographic algorithms work in general. * I don't know about cryptocurrency and how it works in detail, so my answer may not be 100% correct with cryptocurrency.

@nothosaur 3 года назад

@@fullemptiness So, there is a computer scientist or mathematician out there somewhere who wrote an algorithm that creates a random code number that is very difficult to guess. Does that person have access to the computer that created the random number? If so, then he can access the answer, correct?

@AllanDavisArt 3 года назад

Alan Turing has entered the chat

@fullemptiness 3 года назад

@@nothosaur no, it's very complex even to the one who created its algorithm.

@faizaniqbal1683 4 года назад

I wish that some day I could talk so politely like him.

@thomaspick4123 4 года назад

You can. Practice. Use polite words. Have a calming voice for your audience.

@maxsobeshchuk8954 4 года назад

😂

@Mokong3215 3 года назад

Hello

@clyne-automotive8537 3 года назад

Speak, not talk. Books are a good start.

@christianfisher1484 3 года назад

How does this get 374 likes?

@Sunny-hv7pt 3 года назад

This is great but...why don't you explain this to me like I'm five? 👀😭😂

@ee2048 2 года назад

it isn't a subject for 5 year olds, this video does a great job explaining it

@franchic9565 Месяц назад

"It might be more profitable to just buy Bitcoins instead of mining them". My thoughts exactly. Brilliantly explained video about the truth behind the idealistic dreams of gain. Thank you.

@nikopikox 4 года назад

You have a serious knack for speaking and presentation

@chriswu9499 3 года назад

how are you?

@tebohomofokeng6767 3 года назад

😂

@nikkitalbot-jones9633 3 года назад

RIGHT?! I love the way he explains and speaks. I was kind of blown away by his professionalism.

@emilyscottmartin553 3 года назад

I tried listening to what he's saying but it was so well spoken I ended up falling asleep

@vhawk1951kl 3 года назад

To which end there is a very simple method

@charleslapson5219 3 года назад

The amount of time we spend believing we can't is more than enough time to learn how you can. - my Brain

@kelvinkamau7999 3 года назад

Bars

@albert_the_cool8092 3 года назад

@@jasminewolf4519 stfu scammer bish

@jamesbob8401 Год назад

Crypto is gaining momentum in the payment space as well, with Mastercard, PayPal and Visa increasing crypto exposure over the past several months. 凸

@ridakane1375 Год назад

Far more money has been lost by inwestors preparing for correctiorus, or trying to anticipate corrections, than has been lost in corrections themselve

@crespacarol3290 Год назад

constantly in a state of uncertainity and flux and money is made by discounting the obvious and betting the unexpect

@robertbanks8044 Год назад

All I have to say is thank you 🙏 for the feedback

@quokkapirquish6825 3 года назад

Should’ve added: “And finally, it may be more profitable to invest in making videos about Bitcoin, or writing stories about Bitcoin and selling shares in the media company you’ve created than mining the Bitcoin itself. Depending on market factors, of course..... The world is turning into the matrix before our very eyes

@XFTP5150 3 года назад

Yeah shit is getting 🍌

@h.n.r_funi3324 3 года назад

Yeah shit is getting banana'ed

@karterkloud6531 3 года назад

Doesn’t sound appealing at all

@TBLiov 3 года назад

It made me happy to see that I'm not the only one who didn't understand what the heck he is talking about! 😏

@tashabaibhavi5408 3 года назад

I m happy tooo

@gmailtwenty4 3 года назад

😂😂

@runguys8304 3 года назад

Cool

@00Iza00 3 года назад

Check out cold fusion... His vídeo makes sense

@user-to8eq5iw4s Год назад

Bro I loved this video SO MUCH. I really hope you do more

@takkusvloggs3008 3 дня назад

The tokenomics and use case for Papenova protocol is fantastic!

@lamarlamar2413 4 года назад

Im learning bitcoin through this guy, when i was confused as hell on other utube videos, thanks man.

@currencyprofits 3 года назад

What was there to be confused about?

@JuniorRodigan 3 года назад

So MINING basically makes these people guaranteed money & profits : 1. computer hardware manufacturers 2. the electricity companies oh, and 3. whoever makes FANS to keep the computer cool I think I'll just buy stocks in those companies . Thank you for this video

@DenzelBraithwaite-LBPSB 2 года назад

Finally, someone who can explain it without losing me after 30 seconds.

@jessicawiley1394 2 года назад

Sorry for writing you, just out of curiosity your page come up on my suggestion friend list so I was just wondering if I knew you from somewhere?!!!

@yifeizhao5311 Год назад

The god's preaching for Bitcoin mining starters. Thanks for the energy devoted to making this precious video.

@danielsky7128 3 месяца назад

The potential for wealth creation is within your control, as money has a certain energy that can be attracted. By taking action and following specific instructions, you can harness this energy to your financial abundance. To learn more about these steps, simply DM and I will provide guidance at no cost.

@pauldeckard7102 3 года назад

This video not only taught me that I have the memory and intellect of a fish but ... er what was I saying? :D

@coinsniper3519 3 года назад

I don't know what you just said but I agree and also give up.

@sunshineedits1 3 года назад

@@coinsniper3519 don’t do that 😐

@virgilliozacarias6431 3 года назад

Success depends on the actions or steps you take to achieve it. Show me a man with no investment and I'll tell you how long it takes to go bankrupt. Investing builds a safe haven for the future. With the right investment choice that has at least 2% minimum risk and with expert advice, profit and interest are 100% guaranteed.

@colincowering8016 3 года назад

Yes

@noel8337 3 года назад

Yes of course

@plack628 4 года назад

Short answer: You can't strat mining bitcoin with your potato Pc Short answer 2: you need powerful gpu etc 4x titan gpu and a lot of electiricity bills Shoer answer 3: It's expensive but rewarding

@users4007 3 года назад

short answer 4: “haha gpu price go up”

@digiexploration530 3 года назад

are you sure that bitcoin mining is expensive and profitable at the same time? I mean if I invest 1 billion USD now, what will my RoI annually be - this is the most important question here!

@267cal 3 года назад

So practically work a part time job and save that money then investit into a good pc and then start "mining"

@267cal 3 года назад

Ohohooh so the miner apps are just like big corporations hiring employees but they get the cash bcuz they got the equipment

@plack628 3 года назад

@@digiexploration530 Who in their right mind is going to invest 1 billion in bitcoins😂. Realstate would be the right move if you have that much to invest

@coachtim6188 2 года назад

I can't even comprehend Bitcoin. Pretty sure me and this bag of Cheetos don't stand a chance of understanding mining.

@erinhuss4636 2 года назад

This Erin Huss

@Rishabh-rc4zs Месяц назад

This video is understandable for computer science students only

@VelociPurchaser 3 года назад

This entire series is probably the best explanation of the subject material.

@farahnissa8018 3 года назад

So.. who formulate the equations? Who generate this all?

@rrestoring_faith 3 года назад

Like the inventor of bitcoin? You can google that. Or do you mean the hash function that is used? Bitcoin uses SHA-256

@Lakegirl2024 3 года назад

Is it common to have to pay 5000 in mining

@ChequeBlinks-xi9vo Год назад

This video makes me to understand it better thanks a lot 🙏

@slickxbt 4 года назад

This is the video I was looking for to explain this to my dad. Great video!

@kerryobrien6110 3 года назад

I'm loving these explanations. The one thing I take issue with is the notion that banks have all the authority to do what they want with your money. Not true where there is a stable and reliable legal system to hold them accountable. In other words, if they won't give me my money, I can sue them to make them. They are not all-powerful in the way that the narrator suggests.

@danwelsh654 2 года назад

think again during the depresion banks just closed up people lost money no fdic ins.

@ukcryptolondonbased2953 2 года назад

He's explaining a difficult concept in 16 minutes. This requires huge simplifications, of which that was one. But he is right in that the bank is a trusted third party and is utterly corruptable as those tasked with keeping it in check are corruptable. Bitcoin relies on math, not people. Also your bank can freeze your account. If you have your keys, nobody can stop you moving your bitcoin.

@leeMichael-jf6fl 8 месяцев назад

yes true

@cagedtigersteve 3 года назад

Dude....I did not learn a single thing about bitcoin mining. What exactly is it?

@rabask9226 3 года назад

Thank you for the explanation, it was simple, clear and in a logical order. Well done!

@bouncyboxer 3 года назад

Thanks - you have a knack at oversimplifying complicated concepts. It's a gift - I really want to be able to do that. I'm starting that by trying to explain these concepts to my 10 year olds - if they get it - I'm good.

@terokuoppala2465 3 года назад

I started in a mining pool. Paid in the minimum $300USD. Week 2= I had paid over $3,000 in what they call fees or whatever !!! Now... my money is 'hanging'. They won't release it until I pay yet another $1,000!!! I won't pay tho. This has gone on for too long. Another fee will be added and I'll be asked to pay up. Be careful before you start mining. This field is being used by hundreds of scammers.

@pcer982 3 года назад

You minimized the power consumption of not only the enormous number of servers and backup servers but the elaborate cooling systems and backup generators. I visited a large miners operation and you leave out a lot. It’s not comforting that blockchains will be kept in foreign countries.

@Ben3654 2 года назад

This is thee best video I found on the topic. It's weird that people didn't get it only because I think the silly cause was the terminology.

@Dan-kh5ll 3 года назад

I know this is an older video but all of your videos are so helpful to me. Thank you!

@XFTP5150 3 года назад

I bet the mining is poppin now

@yasanparto 4 года назад

Best video I’ve found so far on bitcoin mining. Explained the concept and answered most common questions in the most concise manner possible. Great work!

@odigidawuchukwuyenum5472 3 года назад

Yasan Parto if you want to know more and gain more on signals follow samuraiarmy627 on insta and invest, I made 1k usd in 6days thanks

@tineeashmon9223 3 года назад

This let me know, I don't speak English and my comprehension is wack

@shanemoline5890 3 года назад

I have another question. What does url mean?

@deehokanson9626 2 года назад

hello

@premiere3610 4 года назад

Wow thank you for the honesty in explaining everything of mining bitcoin

@pistolen87 3 года назад

"Guess a random number that solves an equation generated by the system" - What equation and to what's the purpose of solving the equation?

@brkbtjunkie 3 года назад

Look up “how a block chain works” for your answer

@sightandsoundpianostudio5394 3 года назад

Thought it was just me. Rewound twice.

@regularjoe5055 3 года назад

Right, like that was the dumbest shit I ever heard.

@Dethmeister 3 года назад

It's like a lottery. If the miner guesses the right number then it's earned the right to update the ledger. When it updates the ledger it earns bit coins and transaction fees.

@moshthefosh45 3 года назад

it's a control to prevent corruption and negligence for someone who controls the ledger at that moment

@pushthroughthewall3396 2 года назад

Okay, but I still don't understand where the money is coming from? How does it produce money, or if someone is paying up money to the miners, why are they paying money? Why did they agree to pay money to people who use a program developed by some random ass dude? This and NFT's, I don't think I'll ever understand where the value comes from? Is it just because there are enough people that are in agreement that this intangible thing has value?

@Onesaam 2 месяца назад

😂😂

@dfrederique Год назад

Well for someone who is a miner, that was a very thorough explanation.

@davidlapointe6016 Год назад

Mining is not worth it anymore; and well, never was environmentally speaking. You are just a tool, man. And bitcoin are gonna lose value with quantum computers.

@gregorybeaty8863 Год назад

Still nobody can make sense of it ,some of us don't understand how this literally works

@aja790 4 года назад

Whats bitcoin mining, "the process of updating bitcoin ledger transactions onto the network incentivized by the rewarding of new bitcoin." The most comprehensive and succint definition ive come across. Thank you for these series of videos.

@Noobmaster2 3 года назад

I can keep listening to him for years without taking a break. He is great n polite.

@ScaredHelmet 3 года назад

I hate bitcoin for ruining the gpu market, solely for an artificial reason.

@robinshou6962 2 года назад

Yeah sure I prefer trading with a company

@cesarvialpando3933 3 года назад

Ive been learning English for 4 years... and i regret a lot that i didnt study English more earlier

@jamesjwalsh 3 года назад

Don't worry - nobody understands this.

@jalilhaider514 3 года назад

Can bitcoin be mined by android or apple ??

@thomasedward4072 3 года назад

Don’t bother

@outbackeddie 3 года назад

What kind of computer brain comes up with this complicated stuff? I can't even figure out how a friggin mousetrap works and yet there are people out there that devise unbelievably complicated systems like bitcoin and bitcoin mining. I'm wondering if they are aliens and I am one of their pets.

@kennethmitchell2785 2 года назад

I feel you. Maybe I’m not smart enough. But when these clowns loose power do they even know how to check/reset their circuit breaker? Do they know how to operate a generator? Or how to hook one up when they loose power. Do these crypto nerds care what the Green New Deal people think. Lot’s of obstacles whether it’s political or technical. Yeah you can program but can you pull wire and sweat?

@sandipsandipparmar3798 3 дня назад

Thanks for the update. I bet those Papenova token holders aren't too worried about the markets.

@marissakelly9399 2 года назад

I remember the early days when Bitcoin was worth less than $1. My heart breaks for the folks like myself who can no longer access their Bitcoin. If only we had known how valuable it would become.

@user-ev6fq6tm5g Год назад

Truly one of the moment of all times

@grandkalbi5331 2 года назад

Holy cuss, thank you. This explained mining better than anyone I've talked too 🤯

@TheGendee 2 года назад

Hello

@cobymartine1438 Год назад

Crypto is bringing a different revolution in the world economy, people who are optimistic investors earn consistently, others will just sit and watch!

@jonresanovich154 3 месяца назад

I am very impressed by your videos. You are doing a great job of explaining to where it’s simple to understand. Thank you very much.

@99Bitcoins 3 месяца назад

Glad you like them!

@iamtruthseeker1950 3 года назад

I pretty much understand Mining AND the blockchain AND that the reward is currently 6.25 Bitcoins every time a miner completes one. But here is my QUESTION: If the miner(s) who guess the solution gets the bitcoins, how do those bitcoins get into public circulation? What I mean is...how are WE the public able to purchase these new bitcoins that are mined? What is to stop the miners from hoarding them and deciding NOT to sell them?

@mikeysgametime8914 2 года назад

Absolutely nothing, from what I can tell

@BrokenG-String 2 года назад

Maybe they could expire and return to the pool

@Big-Daddy-96 4 года назад

Even in plain English this still makes no sense to me. I’m an engineer and this still seems like a complicated scheme/system that nobody needs.

@pirkkaollenkato6931 4 года назад

Big Daddy you’re wrong. It’s profitable to me.

@JGComments 3 года назад

Almost. Organized crime, drug dealers, and human traffickers need it. Also, you have to remember that transaction processing is decentralized, there isn’t a server client architecture that validates transactions like a bank would have.

@particleman5893 3 года назад

@@JGComments Also people who want to be free from tyranny need it.

@MediaEdits2701 3 года назад

@@JGComments @man person why

@JGComments 3 года назад

@@particleman5893 You should learn what that word means. No one forces you to participate in the banking system.

@kristamontesa220 3 года назад

I still don't understand how bitcoins have monetary value? Like how can this be used to purchase stuff?

@jamesjwalsh 3 года назад

Right - it's inane if you ask me.

@kristamontesa220 3 года назад

@@jamesjwalsh I mean there's gotta be some way for it to have value it's just not ex[plaoned in this vid

@automategames 2 года назад

I forget that years ago this video was informative.. now i chuckle at it like its a 1970's VHS training video.

@JaiRambo 2 года назад

I accidentally found myself interested in what Bitcoin was. I've never hated not understanding something before this. It's uncanny.

@paualmini 3 года назад

oMg, i finally understand what this mining is. thank you so much for such a crystal clear easy to follow video!

@thechindiantrader 2 года назад

thank you. finally know what "mining" really is in cryptocurrency. is 2022 now, pretty sure mining btc is hard, i think mine other good alt coins will be better.

@waynedavide7711 Год назад

Can we know each other!

@robertweaver5737 9 месяцев назад

Thank you for all your guidance! It's amazing boost in the investment theme

@99Bitcoins 9 месяцев назад

You're most welcome!

@sujex866 4 года назад

Best explanation ever !!!! Great Job !!!

@amitgordhan6244 4 года назад

Thanks for a truly enlightening presentation.

@vansajban5408 Год назад

Finally someone that will take criticism and help save their failing restaurant

@saadhussein5776 3 года назад

Solar Energy by using panel equals zero cost electricity

@ethanlee5317 3 года назад

I finally found someone who explains it clearly! Thanks!

@sunshineedits1 3 года назад

Why would you ever think that he explains it CLEARLY

@UPE-DharunShankar 3 года назад

@@sunshineedits1 he did explain it clearly lol, some other vids were really complex and boring.

@joannedavis1991 3 года назад

Yeah right!

@tywrapking7297 3 года назад

Who?

@michaelvincent6472 3 года назад

Really? What video did you watch?

@Smerdzy 2 года назад

Thank you for this video! I've been interested in this for quite some time, but never knew the complete ins-and-outs. The video was clear and easy to understand.

@udaykiran8753 2 года назад

🙄

@abrahamofek4485 2 года назад

Thanks, it was the most enlightens lecture so far

@sagarupadhyay9676 2 года назад

Going to look for another video on Bitcoin

@creativebougiewaves2130 4 года назад

Thank you! Interesting information

@modoochris5824 3 года назад

Hmm So interesting! Been thankful for Bitcoin since the very start! Grateful

@sophieparadis79 Год назад

I get a lot of email of Bitcoin mining why I don’t understand

@99Bitcoins Год назад

Hi sophie, you may be receiving emails about Bitcoin mining because there are many companies and individuals who offer Bitcoin mining services or sell mining hardware. Some of these emails may be legitimate, while others may be scams or phishing attempts. It's important to be cautious when receiving emails related to Bitcoin mining, especially if they are unsolicited or from unknown senders. Overall, it's important to be vigilant and do your research when it comes to Bitcoin mining offers or emails. If you're not sure whether an email is legitimate or not, it's best to err on the side of caution and avoid engaging with it.

@nikesh62 3 года назад

How the initial bitcoin generated/rewarded will have a value associated with the existing currencies of the world? Is it pegged initially or the coin generated gains value from zero value initially?

@user-ih5md5dj8s 3 года назад

You pribably won't read this but I just wanted to thank you for including info for euroean viewers! Please keep doing that(:

@ande4455 3 года назад

No wonder this hasn't caught on yet-I haven't even begun to master the extensive vocabulary!

@bitboycrypto680 3 года назад

@lodewijkderham Год назад

This video explains everything so clear, thanks a lot!❤

@99Bitcoins Год назад

You're very welcome!

@lifeemusicelife112 3 года назад

What a fantastic video, 15 mins cleared up months of confusion. Great job!

@skelibeeposh4160 Год назад

Hello

@MetaverseYes 4 года назад

Very Informative. That's rare on YT

@nancyparks8038 4 года назад

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@bentleygeorge1344 4 года назад

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@cubancattle 3 года назад

My new crypto currency will solve complex troll problems and divide by zero.

@naderreda8171 Год назад

Thank you.... very useful

@Phoenix-J 2 года назад

OK but what is bitcoin is it one's and zeroes or is it real?

@radicalgames480 3 года назад

Thank you so much everyone else tries making it simple but ends up making it more complicated so thanks for this.

@Nipit-po8fl 3 года назад

To me it seems like computer Engineers running a scam. But then again I am I'm on my eighth beer. I remember the pet rock.

@varideasfitidea 3 года назад

with all the difficulties explained here, so is bitcoin worthy? since it's decentralised, seems like no authority control this. Also i wanna know if Satoshi own the most bitcoin?

@kai-fw6hq 2 года назад

Awesome explanation! Thank you so much!

@PharaHerine 3 года назад

finally I understand what mining is about, thank you for a simple explanation

@cryptosmart3806 3 года назад

To Understand is okay, so have you made any trade yet?. How to purchase bitcoin and how to secure it.

@PharaHerine 3 года назад

@@cryptosmart3806 no, I just wanted to understand. Out of my own curiosity. I do not intend to partake in the bitcoin trade.

@cryptosmart3806 3 года назад

@@PharaHerine I'm still new in the world of Cryptocurrency and I'm learning more of it day by day and that's why I'm here although I have already purchased and secured profit I didn't mine

@lolhyena1714 2 года назад

Said no one. Ever.

@eveleland6488 3 года назад

I get confused at certain points. First, all the original btc, do miners “mine them” from some original stack and then add those to the BC and get btc for their efforts? Then, what is the difference or relationships between nodes or validators and a miner when creating a block? Lastly, why would you hold a full node and not be a miner if being a node doesn’t pay?

@Backbenchers911 2 месяца назад

Watched the video 5 years ago, didn't understand a bit, came back 5 years later if see if something could be understood, but no NADA. See ya all in 5 years.