Bitcoin Explanation
People who liked this video also liked
Comments
15 comments posted so far. Login to add a comment.
54
2. loadrunner commented 11 years ago
already 180 dollars a piece ( today)
32
6. WildMonkey commented 11 years ago
Bitcoin, when cash isn't good enough...
I hate bitcoin, it's just another tool for criminals.
Oh I'm sorry, did I say criminals? Oh I meant smart techie guys trying to keep freedom alive via monetary freedom...yeah...that's the ticket...
I hate bitcoin, it's just another tool for criminals.
Oh I'm sorry, did I say criminals? Oh I meant smart techie guys trying to keep freedom alive via monetary freedom...yeah...that's the ticket...
46
7. mmmendal commented 11 years ago
Here is an article for those who want more info on the subject: http://lifehacker.com/5991523/what-is-bitcoin-and-what-can-i-do-with-it
40
9. Ash-BG commented 11 years ago
As far as i know, bitcoins are not something new under the sun.Bitcoins have been used for about 2-3 years know (pls correct me if im wrong). I read about some japanese guy who started this some time ago and set the limit of 21 million bitcoins max.
1.This new E-currency comes from servers called "Pools", which you use to "dig" them out.
2.All "pools" are connected to one big "chain" (the major site),so they share that limit i mention earlier.
3.There is a client software programms, which you use to connect to a "pool" of your choice, where you have already registered there and they give you an "unique key" , so the digged bitcoins are stored in your "wallet", which refers to that "unique key".
How does it work ?
So here is what's happend using the client software :
1.You've been given a mathematician calculations, which your "Video Card" or "CPU" must DO and you've been rewarded with bitcoins per second.According of how fast is your "VGA" or "CPU", you'll see a measurement on the client software like (150Mhash/s), which actually determines how fast is your PC and therefore how fast you dig the Bitcoins (there is a calculator Mhash>>Bitcoins>>Money).
2.The bitcoins are stored in your wallet after you finish using the software
3.Exchange the bitcoins on the market for money
Basically that's it, but there are even more stuff that you MUST know before you starting this.Im not going in details cuz this became,a really big boring post.
1.This new E-currency comes from servers called "Pools", which you use to "dig" them out.
2.All "pools" are connected to one big "chain" (the major site),so they share that limit i mention earlier.
3.There is a client software programms, which you use to connect to a "pool" of your choice, where you have already registered there and they give you an "unique key" , so the digged bitcoins are stored in your "wallet", which refers to that "unique key".
How does it work ?
So here is what's happend using the client software :
1.You've been given a mathematician calculations, which your "Video Card" or "CPU" must DO and you've been rewarded with bitcoins per second.According of how fast is your "VGA" or "CPU", you'll see a measurement on the client software like (150Mhash/s), which actually determines how fast is your PC and therefore how fast you dig the Bitcoins (there is a calculator Mhash>>Bitcoins>>Money).
2.The bitcoins are stored in your wallet after you finish using the software
3.Exchange the bitcoins on the market for money
Basically that's it, but there are even more stuff that you MUST know before you starting this.Im not going in details cuz this became,a really big boring post.
54
10. loadrunner commented 11 years ago
#8 There are no conversion fees, because there is nothing between you and the bitcoin, but a calculation. Only excanging them makes money for others. If you buy stuff directly, only the sellers of the products earn money. No bank no goverement will see any penny, it has no tax because it is not owned by any goverement. And that's why the govrement does not like it. They can't hold it.
45
11. snotraddict commented 11 years ago
So using their software you perform some task to get the coins, might that be sending out malware or viruses or helping them to data mine? Seems really suspicious. Sounds like someone came up with another Pet Rock and wants people to "invest" in it. There are snake oil salesman everywhere for every time in humanity's history.
35
12. schlafanzyk commented 11 years ago
So, is there going to be a bitcoin rush with countries adapting it as their standard until some day, another great depression will hit and nations will get off the bitcoin standard back to a fiat currency to stimulate economic recovery?
54
13. loadrunner commented 10 years ago
For the history books : Today, November 30 2013 the bitcoin is worth around $750 . seven hundred and fifty dollar :o
24
14. snotrfan89 commented 6 years ago
For the history books : Today, November 26 2017 the bitcoin is worth around $9178. I wish I had invested!!!!!
3
15. Belptly commented 1 year ago
One day I decided to try to earn my first money by investing in cryptocurrency. I was recommended the site https://youhodler.review/interest-rates/ and I decided to use it. And the biggest plus is that you can access the best interest rates, just earn interest on the platform and securely access it all in one place.
+13 1. Blackx commented 11 years ago