Bitcoins For Dummies Explained (Official Video)

Bitcoin (sign: BTC) is a decentralized digital currency based on an open-source,peer-to-peer internet protocol. It was introduced by a pseudonymous developer named Satoshi Nakamoto in 2009. Bitcoins can be exchanged through a computer or smartphone locally or internationally without an intermediate financial institution.In trade, one bitcoin is subdivided into 100 million smaller units called satoshis, defined by eight decimal points. Bitcoin is not managed like typical currencies: it has no central bank or central organization. Instead, it relies on an internet-based peer-to-peer network. The money supply is automated and given to servers or "bitcoin miners" that confirm bitcoin transactions as they add them to a decentralized and archived transaction log approximately every 10 minutes. The log is authenticated by end-users through hashed ECDSA digital signatures (similar to a username and password) and confirmed by intense calculations of varying difficulty, performed by dedicated servers called bitcoin miners. Each 10-minute portion or "block" of the transaction log has an assigned money supply that is awarded to the miners once a "block" is confirmed. The amount per block depends on how long the network has been running and how much in transaction fees has been paid. Currently, 25 new bitcoins are generated with every 10-minute block. This will be halved to 12.5 BTC during the year 2017 and halved continuously every 4 years after until a hard limit of 21 million bitcoins is reached during the year 2140. Bitcoin is the most widely used alternative currency and accepted by various merchants and services internationally. As of March 2013, the monetary base of bitcoin is valued at over $1 billion USD. The large fluctuation in the dollar value of a bitcoin has evoked criticism of bitcoin's economic suitability as a currency. More info; http://bitcoinproducts.blogspot.com/ http://www.bitcoin.com/ Helpful keywords; bitcoin mining,bitcoin price,bitcoins,bitcoin miner,bitcoin value,buy bitcoin,what is bitcoin, buy bitcoins,bitcoins,free bitcoins,bitcoin to usd,local bitcoins,get free bitcoins, what are bitcoins,spend bitcoins,are bitcoins,how to get bitcoins,how to mine bitcoins,how to buy bitcoins,buying bitcoins,buy bitcoins online instantly, buy bitcoins with paypal,buy bitcoins with debit card,where to buy bitcoins, buy bitcoins with cash,get bitcoins fast,how to buy bitcoins with credit card, bitcoins for sale, Helpful hashtags; #BitcoinMining, #BitcoinPrice #Bitcoins #BitcoinMiner #BitcoinValue #BuyBitcoin #whatIsBitcoin #BuyBitcoins #FreeBitcoins #BitcointToUSD #LocalBitcoins #GetFeeBitcoins #WhatAreBitcoins #SpendBitcoins #HowToGetBitcoins #HowToMiineBitcoins #HowToBuyBitcoins #BuyingBitcoins #BuyBitcoinsOnlineInstantly #BuyBitcoinsWithPaypal #BuyBitcoinsWithDebitCard, #WwhereToBuyBitcoins, #BuyBitcoinsWithCash #GetBitcoinsFast #HowToBuyBitcoinsWithCreditCard #BitcoinsForSale

Comments

1. Donald Trump can build his wall using bitcoins
2. I have yet to find a bitcoin video that completely explains this system in the simplest way possible.
3. #1 bitcoin miner https://hashocean.com/?rid=664775
4. So the company sends you a limited amount of "blocks" at certain times and you have to mine it to get the coin but why do you exchange the coins and how do you mine
5. "And you get additional business from the Bitcoin..." -Narrator
   "CUT! Great job guys, that's a wrap up" - Director
6. Hi everyone! Awesome Video, Thanks! Have you heard the buzz about this mind blowing plan at "Brendt Amazing Paypal Profit Booster" (maybe try googling it)? My husband made an awesome amount of money and got rid of their car payments very fast!
7. 'Created using YouTube Video Editor' That explains the abrupt ending.
8. I still don't get this why would a company just give you money/bit coins that u can buy stuff with where do bit coin make their money?
9. Fools, where will you find your virtual currency when the government or foreign enemy limits or eliminates your access to the web? At the very least, the government can and will eventually regulate Bitcoins with or without your knowledge.
10. So I'm 18.. If I run. A bitcoin miner for like 6 months straight will I get some nice $?
    
11. Please re-upload with the rest of your video, or if it's not yours could you link to the source and credit the producer of this content?
12. Is there a part 2? The video stops abruptly at 1:36
13. The Gold Std was abandoned for their was not and can never be enough of this finite metal to back all of the production we are capable of. How will bit succeed where gold failed being only 21 million of them will ever be made available? 
14. Fuck Turkish airlines.
15. if anyone can create Bitcoins, where is the value. why would anyone need to go to work when we all can just run the bitcoin program, leave the PC running and go for a holiday
16. for your western to bitcoins exchange use exchanger icq 611989603 his the best right now low rates
17. Best Bitcoin cloud mining and Bitcoin commodity trading (trading BTC/GHS)
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18. Blew through $900!
19. Can you buy some pussay with that bitcoin?  Do prostitutes accept bitcoins?
20. Blew through $600!