Bitcoin: How Cryptocurrencies Work

Whether or not it's worth investing in, the math behind Bitcoin is an elegant solution to some complex problems.

Hosted by: Michael Aranda

Special Thanks: Dalton Hubble

Learn more about Cryptography: https://www.youtube.com/watch?v=-yFZGF8FHSg
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Sources:
https://bitinfocharts.com/
https://chrispacia.wordpress.com/2013/09/02/bitcoin-mining-explained-like-youre-five-part-2-mechanics/
https://www.youtube.com/watch?v=Lx9zgZCMqXE
https://www.youtube.com/watch?v=nQZUi24TrdI
https://bitcoin.org/en/how-it-works
http://www.forbes.com/sites/investopedia/2013/08/01/how-bitcoin-works/#36bd8b2d25ee
http://www.makeuseof.com/tag/how-does-bitcoin-work/
https://blockchain.info/charts/total-bitcoins
https://en.bitcoin.it/wiki/Controlled_supply
https://www.bitcoinmining.com/
http://bitamplify.com/mobile/?a=news

Image Sources:
https://commons.wikimedia.org/wiki/File:Cryptocurrency_Mining_Farm.jpg
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  • Sebastian Rod

    Nice, the energy keeps beeing the most important value for the money, or bitcoin.

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  • Andy Liang

    I have no idea what your saying

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  • Pamela Ann

    Very good theory. If you look at the information and history of humans, we're somewhat predictable over time. How it will correctly play out is hard to tell, and you illustrated that nicely in your chart. I had hoped you might extrapolate another line onto that chart of the various technologies. Would be nice to see what a possible time span it might take considering the increasing velocity of scientific discoveries. Technically speaking, blockchain has had the potential to exist as early as the first internet networks. The need for it, or it's discovery, has taken a while since the earliest computers communications. I think the industry leaders are now adopting more than anyone can imagine, so the switch from fiat to a digital asset will be very easy. It's in their best interest. Already several stock exchanges have said they are going to switch to blockchain securities trading in as little as one year. Will be crazy to see the financial industry make a small sidestep into blockchain. I like your ideas and you illustrate them well this way. The current trend of hodling currency for life from a financial point of view is a wrong strategy for profiting. There is a significant difference between stocks which can be based on professional advice held and currencies (cryptocurrency), and this is because most of them are hypes and highly speculative. I have made over $80,000 in the last two months day trading my BTC which I am sure would be a fantasy if I where hodling. I used a trading system developed by Mrs. Bertha, and with her trading pattern and signals, Im aiming for higher highs. If you have any inquiries, you can reach her on {officialforextrade247 @gmail,|com<>

  • Mac Gyver

    "math problems" who is the customer paying to have the math problems fixed?this is the scheming talk bankers used in the financial crisis in 2008

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    I "love" how the comments are flooded with scammers and adverts for everyone's famous get rich quick scheme cryptocurrency or cryptobroker. What a joke.

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    Good explanation with great analogies!

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  • Hulagu Mongke

    Pal, slow down a bit and take a breathe

  • Scott Wiseman

    thanks for the like. Hey I like to teach people and I have to say when someone it doing a great job!

  • Liz Natasha

    Somebody tell all youtubers we dont care about intros...i always skip😂

  • Jovetj

    Nothing is worth anything unless someone else thinks it is. I wouldn't pay two cents for any cryptocurrency, because it has no value to me. The only reason any cryptocurrency "has" value is because others have been made to believe that it does. Hurray for them.

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  • Split Spade

    You talk about being confusing as hell lol I still don't understand

  • Rolland Johnstone

    In just about 12 months, BTC has made a drop of over 80% from a peak of $19,800 to less than $4,000 and I wonder how silly those that kept talking of $100,000 and more look now. Seriously, how much more evidence do we need that cryptocurrencies are purely speculative bubbles that are best treated as such and milked at the moment? The only space for investing is in real companies doing actual business with real currency valuation. My forecast for the long-term value of bitcoin is 0$, 0€, 0£, 0¥. Don’t get me wrong, I am not a crypto hater, in fact, I am above average financially but I still have a strategy which I implement with which I make a minimum of $30,000 monthly for a couple of months already. Even though I get assistance from Mr. James Long with trade strategies and signals, I still trade on my own so I don’t have to grant anyone access to my trade account (funds). What I do is seek his opinion on the markets as he is a very seasoned analyst and trader and then I use his signals which are very simple to use in placing trades and in the process, I learn a lot from him. You can mail him** (jameslong241 @ gmail. com) if you need his assistance too. A word of caution, never mix emotion with coins if you want to succeed and you have to be brutal as well i.e sell, buy, and trade when you have to follow the rules and always seek help if you are not already a master trader and are not making good and consistent profit on your own already.

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  • Jp

    This is over all a great video but an explanation of a "nonce" is an extremely important part of understanding what makes bitcoin work.

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    Is Kriptomat.io the exchange that has 20+ languages and direct fiat pairs?

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  • cglees

    But still....where does the actual value come from?

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