Bitcoin explained and made simple | Guardian Animations

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Baffled by bitcoin? Confused by the concept of crypto-currencies? Well, fear no more. In 190 seconds we explain what bitcoin actually is, where the idea came from and the impact it's having around the world. Is bitcoin the future of finance, a potential destroyer of the economy … or just a silly slice of technical utopianism?

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Bitcoin explained and made simple | Guardian Animations

58 Kommentare

    1. Contact Robinson Brown for clearer explanations and how to mine bitcoin for profits. Reach him on whatsapp for fast response (+12082612489)

  1. dude i didn’t even understand the video of you’re explanation, I was too impressed and distracted with how good and entertaining you’re artistic way of editing the video. Nice art man, seems time consuming and you’re pictures come out good.

  2. The biggest problem right now is Bitcoin is already relying on full nodes to function. The Blockchain is already 70GB+, which means it will be quite hard to put on mobile device. If there are as many transactions as Visa, the Blockchain will grow 75TB every 3 months*. The Blockchain can grow to a point where only a few organization can afford hosting it, and if they all agree, they can have some control, like banning some address.
    The solution might be tape. You might be surprised but tape is still the best archive storage format. 185TB of data can be put on a single tape. We can simply dump all used input onto tapes. However, when a new full node host wants to join, someone has to take out all his tapes and copy terabytes and terabytes of data over the Internet to the new host, who will be willing to do this? Right now, a new full node requires 24h+ of time to download everything and validate them, unless we get super fast quantum computer, taking weeks just for first startup will discourage anyone who wish to start a node, and don’t even think about having all data on mobile device.

    * Source:

    1. @Marius Tancredi Miners don’t need to adopt pruning. But let’s ignore pruning for a second: You are basing your whole argument on the assumption that „If there are as many transactions as Visa, the Blockchain will grow 75TB every 3 months“ – you quoted a VERY outdated source that didn’t consider payment channels and lightening network (that means 99.9% of all that transaction data is never on the blockchain to begin with!!!). From there, you can do some basic math and see that we might get to 2-4 TB of data only after 10-15 years (and at that point in the future, transferring 2-4 TB should be as easy, if not easier, as transferring 20-40GB today and storage would be a complete non issue).  Therefore at that point, running a full node without any pruning is still very feasible.

    2. the lightning network, thunder network and segregated witness are all the solutions being implemented right now for your scalability problem, which can be easily solved with a hard fork with existing code developed by mike hearn and gavin but the miners do not want it, hence the three other solutions i mentioned to the scalibility problem.

    1. Contact Robinson Brown for clearer explanations and how to mine bitcoin for profits. Reach him on whatsapp for fast response (+12082612489)

    1. Yes, it’s a public ledger, but your ID is a string of letters and numbers (example: 3E41eGyD4FKSwzvq8dZ3Zy2enXSo91qE6B). No one knows who you are except those who have your ID (public key)

    2. Geometry Nacho, indeed, any mathematically based encryption system can be defeated through brute-force calculations, it’s only a matter of time and computing cycles. The problem Bitcoin and similar digital currencies have is that breaking their encryption won’t mean access to part of the available currency like hacking a bank or credit card company; instead it would potentially allow access to *all* of it. Now imagine the incentive for developing a way to rob anyone and everyone who uses a particular currency… I’m sure there are multiple nefarious groups working on it, and probably have been for a while.

    3. @Wayne Johnson Far from it, in the end it’s a mathematical problem of finite scope and computers are literally *built* to do math (hence the name).

  3. “The Double Spending Problem.” of course—just like a 49er shouting “Eureka!” This is such an awful explanation.

    1. @Erica Stallings Mr Donald is a man of integrity with him as my miner i have been able to make up for my estate project just in 6month. i say he is a winner

  4. Very helpful information you have coupled up in your video, already subscribed to your channel. Most people will misunderstand what you highlighted in your video and equally the advantage they have to learn about cryptocurrency at its early stage. I count myself lucky to know crypto at this current era and to also witness the transformation blockchain is bringing to the world economy, and with that effect, if you are not holding as many bitcoin as possible, you are simply missing up on the long run. I have been an investor of bitcoin since 2017, I buy into the fuzz during the bull run, and I was holding because I don’t understand how the market work. During the dip, I was worried because the price I bought it with and the current price are two different things entirely, and so I decided to look for a mentor who will enlighten me about trading and how I can hold more bitcoin. Luckily for me, I met Miss Harriet, who is a pro trader. she made me understand the crypto market and how she can help me to gain more bitcoin. I started implementing her strategies, and the first month, I gained up to 300% profit. I was so amazed and finally told myself that yes, I have gotten a trader to help me out when it comes to crypto trading. Now I am growing my portfolio daily with her, and I surely know that there are so many people currently into such situations who are looking to change their portfolio status, worry no more because your portfolio status can be changed if you take action today by contacting Harriet via harriett266@gmailcom and WhatsApp +447723515261, and surely your portfolio status will be very well organized again.

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