How Bitcoin Works in 5 Minutes (Technical)

A short introduction to how Bitcoin Works.

Lots of demos on how to buy, send, store (hardware, paper wallet). how to use javascript to send bitcoin. How to create Ethereum Smart Contract, much more.

Germain caption translation provided by adi331 : 19s6rqRfHa19w7wcgwtCumPs1vdLDj1VVo (thanks!!)

[saeidmomtahan]

I'm more confused about Bitcoins than I was before watching this video

[modocreations]

Great graphics but talks so fast about so much technical detail in just 5 mins that after watching it twice I still only vaguely understand it.

[MostEpicKid]

i still dont know what bitcoin is, WHOS WITH ME !

[EduardoSanchez-lusv]

The 22 min video is much better than this one. Although, I had to watch it like 4 times to get a better understanding of it . The BitCoin system is really complicated and is very very advanced . Watching that video is a must if you are planning on getting into the BitCoin world.
Thanks for it video creator !!

[techgarage]

I'm a software dev with 3 decades of experience, but still struggle comprehending all of the bitcoin ecosystem. The 22 minute "How bitcoin Mining Works" helps greatly, but it would help to see an explanation (i.e. historical analysis) of the first 10 or 20 transactions starting at block 0. The genesis block started with 50 BTC, so how did that get spent, when was the first block created, how many transactions did it have, how did new BTC produced by the miners get spent into the transaction chain etc. I'm thinking if I saw how the 3 purposes of mining were fulfilled thru the actual early transactions it would "click" for me and all the pieces would lock into coherent understanding.

[RandoTark]

I think the terms need to be a bit more relate-able for most people to understand. Like the voting and lottery, happens automatically and is known as the process of mining and miners. You mention miners once or so at the end but talk about the process of it from the halfway point to the end. Also, I think for the most part, it needs to be noted that this entire process happens automatically behind the scenes. The way you explain it almost sounds like a lot of it has to be done manually on a PC by the users. For example when u first the validation / voting process, it sounds like in order for a users transaction to be accepted into a block, that user would have to generate the block ; another manual implication.

[auzzierocks]

that lawnmower better be worth the $3200 dollars! 5.2BTC haha

[Naturenerd]

Wow that's confusing. The guy who created this was definitely a genious to have all these checks and balances to have such a sustainable system. And no one even knows who created this system.

[drkrac]

Actually one of the better descriptions I have read/watched. I think I almost understand it now!

[inFAMOUSBeatsGFx]

Finally found the a video with the perfect degree of technicality for me to understand!! Thanks this was awesome!

[nyankoponba]

I was lying down when watching this I literally almost fell asleep.
I'm doomed plus there's math involved yea....

[logo]

This really helped me understand bitcoin better thanks dude! :D You did a really good job at explaining it all.

[djvartan]

Best video yet but the system is too complicated and will prevent Bitcoin from ever being attractive to the masses for use.

[ddcc]

How do you buy bitcoins? Is it possible to buy bitcoins with your regular visa bankcard?
If so how do you go about it?

[kingofthepaupers]

Jct: What an incredibly complicated way to run your poker chips.

[hanpritcher]

Wish I knew what Bitcoin was back then 😭

[titleistD]

I didn't feel like you explained the double spending prevention and how it translates to the block-chain. How does the "lottery" determine which transaction is legitimate? The way it's explained above implies that both transactions would enter the pool and whichever hash match occurs first gets added to the end of the chain. It obviously can't work this way. Thanks for the video! Lots of good information here.

[mraperish]

Really nice videos, I have watched both this one and your more technical version. It has helped me to understand how bitcoin works. I am however stuck on the physical issues that are apparent in the future ie.. Total coin count maxes = inflation of bit coins. And the physical size of the ledger files becoming too large.

[CurlyFork]

Yeah thanks for going technical! There are so many vids ''how does this work'' that actually don't say anything informative

[dazalenko]

So basically it’s momentous % increase in value is just 1 big pump! There is no way a system like this should increase in value any faster than standard currency long term. Any advantages it has in saving on fees is negligible compared to the cost of all the mining and processing surely, so why the sudden spike in value? How can someone turn $100 into without burning someone else? Bazzar