What is Bitcoin? A Beginner's Explanation

For an updated version of this video visit:

Bitcoin is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger called the blockchain, which is accessible for everyone to see.

Bitcoin gives you complete control over your money, unlike other assets you own which are regulated by banks and governments. As bitcoin gains more popularity, more and more places accept it as a payment method.

That's Bitcoin in a nutshell, for a detailed explanation watch the complete video, here's what I'll cover:

0:51 - What is money?
2:13 - Fiat money
3:05 - Digital money
3:40 - Bitcoin's whitepaper
4:47 - Bitcoin's public ledger (the blockchain)
6:12 - Why is Bitcoin important?
7:36 - Who accepts Bitcoin
8:11 - Conclusion

For the complete text guide visit:

Join our 7-day Bitcoin crash course absolutely free:

Learn ANYTHING about Bitcoin and cryptocurrencies on our YouTube channel:

Get the latest news and prices on your phone:

See anything we haven't covered? Leave us a comment in the comment section below

[Bitcoins]

CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers.
Stay safe 🙏🏻🙏🏻🙏🏻

[alex_metz]

Simple and cool explanation especially for non-technical people. Will forward, please make more!

[JimmyS]

That was simple, straightforward and easy to wrap your head around, thank you

[msatul]

20 ETERNITIES later also, people will still be like: What is Bitcoin?

[warrendunn]

So just you know for your next video, your jump cutting between the two shots, google/wiki will explain.

[sivasankarradhakrishnan]

how to buy bitcoin? is it like stock market?

[hg.]

Minute 6:40 :: Bitcoin as global, ubiquitous blessing for those condemned to live in chronic 3rd world inflation-poverty sh*tholes, soon to be all of us, perhaps.