What is Bitcoin? Bitcoin Explained Simply (2020 Updated)
Bitcoin explained: Here's everything you need to know - CNET
Bitcoin for Beginners: How to Explain DeFi and Crypto Coins
How does Bitcoin work? - Bitcoin
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A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
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LToV Socialists, if labor = value, then explain Bitcoin.
If labor is equal to value, then why is Bitcoin worth nearly $11k at the time of writing? Yes, labor in the form of processing power is necessary to generate them in the first place, but after that, their value varies wildly. If you mined 1 bitcoin back in early 2013, you'd have a coin worth about $15. But if you held that coin for just 4 years, it'd be worth nearly $20k, over 130,000% more. No new labor was put into it whatsoever, but it was suddenly worth a car, because the market decided so. What gives? Shouldn't Bitcoin be worth an entirely consistent amount, or at least a stable amount? You could make the argument that Bitcoin is worth nothing, because price doesn't imply value, but doesn't that mean the labor used to create it is worth nothing as well? Am I missing something, or does Bitcoin just completely shatter the LToV?
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How to explain Bitcoin and the blockchain to newbs?
Hi everyone, so I have tried to explain bitcoin and the blockchain to my family but they still seem not to get it. So is there a very good and thorough beginners 101 bitcoin video that I can show them, so they would understand me better? Would help alot :)
Explain Bitcoin to me like Oscar explains a surplus to michael in the office.
My brother has invested a small 50, it's now up to 61.31 or something like that I'll have to talk to him when he gets here and ask. Anyways, explain this to us please. Not trying to get rich, just mildly interested and would like to know more. EDIT: its 63.31
ELI5 Bitcoin – Explain Bitcoin Like I’m Five. Let’s just say there’s you and me in a room, and I hand you a dollar. I gave the dollar to you, and now you have it and I don’t. We didn’t need anybody else to verify the transaction, and I can’t take it back unless you give me it back. That dollar is yours now to do whatever you like ... Bitcoin transactions cannot be traced back individuals -- they are secured but also obscured through the use of public and private encryption keys. This anonymity can be appealing, especially with ... Bitcoin, the digital currency, has been all over the news for years. But because it’s entirely digital and doesn’t necessarily correspond to any existing fiat currency, it’s not easy to understand for the newcomer. Let’s break down the basis of exactly what Bitcoin is, how it works, and its possible future in the global economy. Explain this blockchain. Miners are in charge of making sure bitcoin transactions made by users are recorded and legit. Simply put, they do this by grouping every new bitcoin transaction made ... The best way to explain how Bitcoin works is to go through an example of how things function behind the scenes when a user sends or receives a transaction on the network. Let’s run through both sides of a transaction from the perspective of two hypothetical users: Bob and Alice.
Bitcoin Basics (Part 1) - "Explained For Beginners" - YouTube
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