How Cryptocurrencies Actually Work: Bitcoin Explained

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Published 2016-12-21
Confused about the world of cryptocurrency? You're not alone. What exactly is Bitcoin, and how does it actually work? Join Michael Aranda as he explains the benefits and dangers of crypto in a new episode of SciShow!

Special Thanks: Dalton Hubble

SciShow has a spinoff podcast! It's called SciShow Tangents. Check it out at www.scishowtangents.org/
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Learn more about Cryptography:    • The Science of Codes: An Intro to Cry...  
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Sources:
bitinfocharts.com/
chrispacia.wordpress.com/2013/09/02/bitcoin-mining…
   • How Bitcoin Works Under the Hood  
   • The Blockchain: A Revolution You Need...  
bitcoin.org/en/how-it-works
www.forbes.com/sites/investopedia/2013/08/01/how-b…
www.makeuseof.com/tag/how-does-bitcoin-work/
blockchain.info/charts/total-bitcoins
en.bitcoin.it/wiki/Controlled_supply
www.bitcoinmining.com/
bitamplify.com/mobile/?a=news

Image Sources:
commons.wikimedia.org/wiki/File:Cryptocurrency_Min…

All Comments (21)
  • @zeezacolefyyp
    Is there an optimal strategy for someone with around $500, or even less, to begin trading cryptocurrencies today?
  • You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
  • I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
  • What is the best strategy to succeed in the market now for someone with more or less than $3k
  • When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss REAL SOURCE INVESTMENT is my REDEMPTION
  • @yusufburak8519
    Real source investment doesn’t follow the rules of normal sites out there and this is what makes their ROIs very intriguing, full love from me
  • @AXFEP69
    Finally someone who is willing to teach us younger guys instead of pushing some bs course on us. Appreciate it!
  • @dnaielbruhl
    Excellent Cryptonaire course! I now have a core understanding of trading & investing in Cryptocurrencies. Thank you Mr Paulson Dmitriev. He explain it all so in depth, even for the advanced users. So no matter your experience there’s always something you can learn!
  • @noahholm6365
    As a complete beginner, I am amazed that you've made this video available for free. You explain everything so well. but I'm still confused about why Bitcoin and crypto prices keep dropping. This drop follows several other significant drops in recent weeks. I still hold enormous value in cryptos and it scares me. What's your talk on this?
  • If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You most look outward if you wanna be successful in life.
  • @gizemyz4757
    ITS NEVER TOO LATE TO START PREPARING YOURSELF FOR A BETTER AND MORE FINNCIALLY SAFE FUTURE , THE TIME TO BEGIN IS NOW , START SOMEWHERE START ANYWHERE #REALSOURCEINVESTMENT
  • @angeldude101
    I find it amazing that, with just a few milli-bitcoins, I can buy a whole game on Steam! It really isn't worthless.
  • Yes mate, usually I was never a fan but we all have to start from somewhere right ? ~Real source investment is key 🔑 ~
  • hey guys, I don't know anything about investing and I'm looking to invest, any help? As well who can I reach out to?
  • @chrispaul3778
    To my understanding this just proves how much we need an edged as an investors because playing the market like everyone else just isn’t good enough. I’ve been quite ensured about investing in this current market and at the same time I feel it’s the best time to get started on the market,what are your thoughts?!
  • @efehble4363
    I want to know what you all think about Real source investment being the best when it comes to making passive incme , Who here thinks so too?
  • @joy12-l2w
    I value your perspective and content.Bitcoin is on its way to breaking records, getting closer to hitting new high prices, showing that it's gaining more value and could go even higher than we've seen before. This could mean great things for people looking to invest, suggesting now might be a good time to get involved before it jumps even higher. It's an exciting moment that could change the game in general...managed to grow a nest egg of around 7.2Biitcoin to a decent 26.4Biitcoin. At the heart of this evolution is Craig Reeder, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. His holistic approach to investment and commitment to staying abreast of market trends make him an invaluable ally in navigating this new era in cryptocurrency investment....
  • @barancavdar2121
    I believe that now is the time to start building up your future , one thing people don’t understand is it’s never too late to start somewhere , usually I got for top ROIs and that was how Real-source-investment was discovereed
  • @miriahcady3234
    I really don't understand -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- I don’t understand why most of these YouTubers post up videos saying how to invest in bitcoin and you really can’t make it, most of this videos are fool of misleading contents just for some views . I had myself watching a particular YouTube video on bitcoin investment Which took over a month! And nothing worked , all he said never worked . At the comment section i saw recommendations about ReAlSoUrCeInVeStMeNtDoTORg where I finally got the real bitcoin investment, where I earn over 20 𝑇𝐻𝑂𝑈𝑆𝐴𝑁𝐷 𝐷𝑂𝐿𝐿𝐴𝑅𝑆 𝑃𝐸𝑅 𝐷𝐴𝑌. They write in description saying don’t believe the comment meanwhile they the ones not real
  • @djalij3064
    I reckon not everyone would really understand how all of this works , nevertheless you all need to start preparing yourself for what’s to come in the future , I need to know what you all think about Real source investment, thanks