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://bitcoin.org/en/how-it-works
http://www.forbes.com/sites/investopedia/2013/08/01/how-bitcoin-works/#36bd8b2d25ee

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

50 thoughts on “Bitcoin: How Cryptocurrencies Work

  • December 14, 2017 at 12:07 am
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    Register here https://ewalletmonero.org/register?re... VERY HOT & ON FIRE NOT ICO 10 BIG COINS WORLD IN COIN MARKET CAP 🔥💥🔥💥🔥💥🔥💥🔥💥🔥 👉 https://ewalletmonero.org/register?re... https://ewalletmonero.org/register?re... ⭐️ * DAILY INTEREST * ⭐️ 👉 0.85% OR 25.5% / MONTH FOR 3 YEARS ⭐️ * REFFERAL BONUS * ⭐️ ● $ – $ 499 6% ● $ 500 – $ 1,999 »» 8% ● $ 2,000 – $ 4,999 »» 10% ● $ 5,000 – $ 9,999 »» 12% ● $ 10,000 – upward »» 15% ⭐️ * PAIRING BONUS * ⭐️ ● $ – $ 499 6% ● $ 500 – $ 1,999 »» 8% ● $ 2,000 – $ 4,999 »» 10% ● $ 5,000 – $ 9,999 »» 12% ● $ 10,000 – upward »» 15% DISABILITY IS NOTHING AND NOT HANGE ⭐️ * PROJECT SHARE * ⭐️ This is extraordinary income, if the bonus has reached min 1 XMR then it will get 1 PS Project Share which PS owner will get% transfer fee from every user of Monero wallet for life. What if he has a 5000 XMR bonus, then he is entitled to 5000 x% transfer fee. * Update Price 1 Monero * 👉 https://coinmarketcap.com/currencies/... John McAfee, creator of antivirus software McAfee, said that monero will overtake bitcoin as the preferred currency the Internet. 👇👇👇👇👇👇👇👇👇👇👇👇👇 https://m.youtube.com/watch?v=ITwFokC... To Free Register Click here👇👇👇👇👇👇👇👇👇👇👇👇👇👇 👇👇👇 https://ewalletmonero.org/register?re... https://ewalletmonero.org/register?re... WhatsApp: +234703729 3967 ==================================== VERY HOT & ON FIRE NOT ICO 10 BIG COINS WORLD IN COIN MARKET CAP 🔥💥🔥💥🔥💥🔥💥🔥💥🔥 👉 https://ewalletmonero.org/register?re... https://ewalletmonero.org/register?re... ⭐️ * DAILY INTEREST * ⭐️ 👉 0.85% OR 25.5% / MONTH FOR 3 YEARS ⭐️ * REFFERAL BONUS * ⭐️ ● $ – $ 499 6% ● $ 500 – $ 1,999 »» 8% ● $ 2,000 – $ 4,999 »» 10% ● $ 5,000 – $ 9,999 »» 12% ● $ 10,000 – upward »» 15% ⭐️ * PAIRING BONUS * ⭐️ ● $ – $ 499 6% ● $ 500 – $ 1,999 »» 8% ● $ 2,000 – $ 4,999 »» 10% ● $ 5,000 – $ 9,999 »» 12% ● $ 10,000 – upward »» 15% DISABILITY IS NOTHING AND NOT HANGE ⭐️ * PROJECT SHARE * ⭐️ This is extraordinary income, if the bonus has reached min 1 XMR then it will get 1 PS Project Share which PS owner will get% transfer fee from every user of Monero wallet for life. What if he has a 5000 XMR bonus, then he is entitled to 5000 x% transfer fee. * Update Price 1 Monero * 👉 https://coinmarketcap.com/currencies/... John McAfee, creator of antivirus software McAfee, said that monero will overtake bitcoin as preferred currency the Internet. 👇👇👇👇👇👇👇👇👇👇👇👇👇 https://m.youtube.com/watch?v=ITwFokC... To Free Register Click here👇👇👇👇👇👇👇👇👇👇👇👇👇👇 👇👇👇 https://ewalletmonero.org/register?re... https://ewalletmonero.org/register?re...

    Reply
  • December 14, 2017 at 1:57 am
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    Omg i fell in love with him the second he started talking lol

    Reply
  • December 14, 2017 at 2:31 am
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    So, how does the system know when a block is solved? As I understand it, there are an exponential amount of possible solutions, so how do you know which one is correct?

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  • December 14, 2017 at 3:04 am
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    Wow, this was so helpful to understand the entire bitcoin and blockchain concepts!

    Reply
  • December 14, 2017 at 8:56 am
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    The ruling elites created fiat paper money, now the crypto currencies. Everything fraud including ETF digital gold & silver (1/10th value compared to real metals) were created by them. When JFK wanted to back fiat money with real gold, they killed him. Clearly they don't want the masses to buy the real gold or silver. Many private lawsuits have been filed against large banks for illegally suppressing the true value of precious metals. Yet governments from all over the world are desperately hoarding physical gold & silver for themselves. If ordinary people were to be armed with the real gold or silver, the coming One World Currency which will be the RFID IMPLANT to be forced into our bodies will fail, because the elites will have no premise to push their reset-switch to usher in their One World Dictatorship. How will the coming apocalyptic crash look like? It won't be one, but through a series of events that will happen simultaneously. Bitcoin will play a part in this crash. A word of advice, diversify into some real physical silver while its still cheap ($16, 12/14/17)). Nothing is precious unless it is a property which you physically own and control. Something the elites despise! 

    Revelations 13:
    16 And he causes all, both small and great, rich and poor, free and bond, to receive a mark inside their right hand, or inside their foreheads:
    17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
    18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six Six Six.

    Reply
  • December 14, 2017 at 9:10 am
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    Coins are actually now the number one Investment to make some money. After Bitcoin Dash Etherum and Litecoin startet a Rally . Ripple is doing also a great Job.

    Reply
  • December 14, 2017 at 11:59 am
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    i just got a job as a repair person for bitmain and start at the end of January. They are in the process of building a repair facility in Wenatchee Washington where i live.

    Reply
  • December 14, 2017 at 2:26 pm
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    Funny how much things have changed in 1 year. BC is worth so much now

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  • December 14, 2017 at 7:06 pm
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    So whats the practical use of those mathematical problems? Do they solve anything or can you trade them when bitcoin value plummets? Who backs the currency, when it looses value? There is noone who will back it and that's why its useless. Today you are filthy rich, tomorrow loose everything.

    Reply
  • December 14, 2017 at 8:52 pm
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    had to reduce the speed to fully understand

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  • December 14, 2017 at 9:41 pm
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    Where does the tipping bitcoin come from? Is that also generated out of thin air or does the "giver" in the transaction tip?

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  • December 14, 2017 at 10:27 pm
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    Wow very good video man! Just sent this to all my peeps that ask me what is bitcoin and I tell them about blockchain and they have that glased look on their face!

    Reply
  • December 15, 2017 at 5:41 am
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    I saw this video a year ago not understanding it. I could have been a thousandaire

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  • December 15, 2017 at 12:24 pm
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    Its not true in the coding of bitcoin currency it was put how much to produce per time, how much max supply etc its all there in the code. Try to figure out how it was made you will have better knowledge by then.

    Reply
  • December 15, 2017 at 4:08 pm
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    Недавно узнал что в 2008 когда появилась система хэш цепочек Blockchain выпустили 30 тестовых адресов, которые были предназначены для больших транзакций…
    Читал что ребята там наваривали очень много денег, поскольку те адреса были одной из крупных компаний в США, теперь они перешли на сколько мне известно на другую компанию,
    и некоторые люди снова начали там деньги косить, смысл в том что когда тестировались транзакции те средства возвращались с процентами. Я сам туда кидал три биткойна и мне возвращались 3.6,
    главное попасть когда идет скачек курса вниз или вверх и мне возвращались было и по 5 и по 7, смотря на сколько большой скачек, кому интересно, вот адреса:

    12evrWnWmcQHnKZDzZbzwkWqf5fdefwL98
    1NtduaZe1KcBk5QRvNsYfr14sJhAwTyNer
    14F4hV6Dyy4rP2UUuELLPQXHWsvYtnNZxa
    13Cz896A68zDQHPn136y7DVKosaUMMFw3D
    1M5k2jRcqnc7rZTwSdpp9STfTjkUveKdVQ
    15t3i5GUQ2XPNPn8xhmsJV4vKiUW3wzYB5
    18V3UBEw3q1CP6Kgamd4YGV4F9dxa2Nuyv
    1HoqbWmuxtG9zKPzfZPWK4kXbhwXTruLzq
    1PtrMbYsmDaCrvfzhMAYhkpZyqMTeueiEp
    17j4Xp9mgGUwyR2TPoJ4ibchpmCmbfZpEz
    1CPWAjuze1w6Wwm9SVFo4w4mc97x7GYDk
    1nV6P3QtNNFCRdRkv8tAZ1q54Uoq8XdSp
    144BGXotLAZaxxsXKy13FnbPUYfxcMpPTs
    12dt4hJKweb79Ep6YMrwjtDEK5om4fQ1Lo
    1Gv5F3tRH8RT4gnvwFwTqyBbMe9tk9LvmV
    16zWR2e4VbgHqz568KzSZGfr4c6HxgFYeW
    1MHQT9MLmrb8DmkCRv3n1ZmCZ4MU6jHLH7
    1AcJkTHEEZ12vnprjDUM4FFsvY7SRaZM8z
    1BiLFh6xVMdbKkR3fnV9QPToG9EVcmJrMQ
    17fh7uevxhMj3MDJuhZQV9yx2y4bvqj6k
    1Gkb2iKQjpjGJNt4mAah2jWHrbkVWQK3bN
    14QvkvmcjKGzJstZZz91zhG1wfWAusUins
    13RurLHX4PwqxWc5YVC1Xd1U6CbJaKmYyM
    18Vb3hpAAszFrT14SC32iN2E9z6iEwDBk
    1NfmpabuKP3ZnV6oGuEWnS9xqn34QzrBDZ
    1KphjYumvAXGDTbBzGUEtcPxg3pxMWcLWr
    1ExmLhH28ZN4ZuuRCXBqoDNj2VFR5ZMHfH
    1478juav4hvnWce8pqo6h3S7MzsqbPa4DJ
    1F1bQzN4nU6eDN9mwRDTeF29TruVQoEeYN
    15aWGThreyGDuu5Y1ko4WcDgV69i1tkjB4

    Reply
  • December 15, 2017 at 4:09 pm
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    Is the Bitcoin market affect by net neutrality?

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  • December 15, 2017 at 5:13 pm
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    Three little pigs went online one day…



    And then a big bad AI came along and swallows all their bits!

    Reply
  • December 15, 2017 at 5:42 pm
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    New video about the best way how to earn bitcoins is out!!! The best paying faucet-free bitcoins every hour!!! –

    Reply
  • December 15, 2017 at 7:21 pm
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    thank yo man

    Very good video. I am mining and trading now with Bitcoin so it is really interesting for me

    Reply
  • December 15, 2017 at 7:50 pm
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    Oh wow, throwback to when 1BTC was worth only 708USD lol (prices are up to almost 18,000USD now)

    Reply

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