But how does bitcoin actually work?

7 Jul 2017
7 527 540 Ditonton

The math behind cryptocurrencies.
Home page: www.3blue1brown.com/
Brought to you by you: 3b1b.co/btc-thanks
And by Protocol Labs: protocol.ai/join/
Some people have asked if this channel accepts contributions in cryptocurrency form. As a matter of fact, it does:
2^256 video: idworlds.info/from/uZ58e9GjbZSnobs/video
Music by Vincent Rubinetti: soundcloud.com/vincerubinetti/heartbeat
Here are a few other resources I'd recommend:
Original Bitcoin paper: bitcoin.org/bitcoin.pdf
Block explorer: blockexplorer.com/
Blog post by Michael Nielsen: goo.gl/BW1RV3
(This is particularly good for understanding the details of what transactions look like, which is something this video did not cover)
Video by CuriousInventor: idworlds.info/from/st1rrsu8e4Kji6c/video
Video by Anders Brownworth: idworlds.info/from/xZZoZNOvspeejJo/video
Ethereum white paper: goo.gl/XXZddT
Animations largely made using manim, a scrappy open source python library. github.com/3b1b/manim
If you want to check it out, I feel compelled to warn you that it's not the most well-documented tool, and has many other quirks you might expect in a library someone wrote with only their own use in mind.
Music by Vincent Rubinetti.
Download the music on Bandcamp:
Stream the music on Spotify:
If you want to contribute translated subtitles or to help review those that have already been made by others and need approval, you can click the gear icon in the video and go to subtitles/cc, then "add subtitles/cc". I really appreciate those who do this, as it helps make the lessons accessible to more people.
3blue1brown is a channel about animating math, in all senses of the word animate. And you know the drill with IDworlds, if you want to stay posted on new videos, subscribe, and click the bell to receive notifications (if you're into that).
If you are new to this channel and want to see more, a good place to start is this playlist: 3b1b.co/recommended
Various social media stuffs:
Website: www.3blue1brown.com
Twitter: twitter.com/3Blue1Brown
Patreon: patreon.com/3blue1brown
Facebook: facebook.com/3blue1brown
Reddit: www.reddit.com/r/3Blue1Brown

  • If you see comments here about investing or brokers, they are scams. Videos about cryptocurrencies, evidently including ones that are just about the underlying technology/math, are hotbeds for attracting nefarious actors preying on the impressionable. Also, hi! If you’re new to this channel, most of it is about visualizing math. I get it, you probably landed here searching for how BTC works, not to spend your afternoon getting pulled into learning about, say, prime numbers or problem-solving, but if you have a moment take a look at the rest of the channel, you may enjoy what you find.

    3Blue1Brown3Blue1Brown4 bulan yang lalu
    • Mrs Jane is legit and her method works like magic I keep on earning every single week with her new strategy

      Gary AmyGary Amy15 jam yang lalu
    • This was the best video I ever saw on Bitcoin, it was so enjoyable I wish there were more like it. Finally, someone answered all the questions that arose in my mind about the private keys and other issues. This was an outstanding video. I'm overjoyed to finally learn more of the nitty-gritty of how it works.

      Mark ServiceMark Service20 jam yang lalu
    • @TuMuch Info +177-3839-5576she's the plug 🖕🖕

      Elias finnElias finn3 hari yang lalu
    • @Roland Dennis +177-3839-5576

      Elias finnElias finn3 hari yang lalu
    • @Maria Nguyen + 1 ( 8 7 2 ) 2 3 9 5 7 0 9

      3blue 1brown3blue 1brown5 hari yang lalu
  • Where are these money come from? Thin air? lol I see a future where Bitcoins is a vehicle to transfer money, like Western Union. But a de facto currency... lol good luck

    Liem HLiem HJam Yang lalu
  • 내 존재의 가장 유익한 결정은 Instagram에서 Ms @Mai_Trades와 거래하는 것이 었습니다. 다른 모든 상인보다 그를 선택할 생각은 없었을 것입니다. 저는 $ 700로 거래를 시작했고 며칠 만에 $ 8,500의 수익을 얻었습니다. 그의 근면과 신뢰는 타협 할 수 없습니다 바이너리 옵션 거래에서 저의 성공은 위대한 거래자의 훌륭한 경험과 기술의 결과입니다. 제가 한동안 거래 해왔고 저의 성공은 엄청났습니다..

    дмитрий коротковскийдмитрий коротковский3 jam yang lalu
  • Mrs kathy is legit and her method works like magic I keep earning every single week with her new strategy

    Dickson kimDickson kim3 jam yang lalu
    • Expert Mrs Kathy is the only I can recommend to you dear I've been scammed so many times

      Sebastian AnthonySebastian Anthony2 jam yang lalu
    • When I saw testimonies all over the place I thought it was all made up stories till I was convinced and gave it a try and honestly I don't regret the move I made because I invested in a big way and I got a large amount of profits....

      Ada BethelAda Bethel2 jam yang lalu
    • I came across Mrs kathy in a conference meeting at Washington DC after giving her speech I was opportune to meet her and start investing

      Susanne PetraSusanne Petra2 jam yang lalu
    • A friend that I referred to her just received €7,050 profit after 10 days of investing I..... became jealous.. Lol

      Andrew Martin'sAndrew Martin's2 jam yang lalu
    • I doubted her before I gave it a try and it was of no regrets

      Lewis AlfredLewis Alfred2 jam yang lalu
  • Making something dauntingly complex into to bite-sized comprehend able animations, you sir just got a subscriber for life.

    Habib AlamHabib Alam4 jam yang lalu
  • The presentation of verification methods as functions and their signatures gave a pleasant resemblance to network protocols. Great video.

    Eduardo MatiasEduardo Matias4 jam yang lalu
  • Bitcoin was created by the NSA. It is the onramp to Digital currency. The main idea is to make Crypto so unmanaged by Governments and people that they will have to start implementing regulations to it. That's the role of it. The Digital dollar will replace it in 2022. The US Government bought 200 million bitcoin from 2010- 2012 for $10 each. While owing The American people 3 Trillion they borrowed from Social Security that was due for payment in 2013. What did Obama do to repay our Social Security? he raised the SS tax 2% and didn't pay anything. Since they have 100 million in Bitcoin that is at $50,000 now, so that's about 5 Trillion dollars the Government of the USA has made off of our money. So where is it? This is one of the main reasons the USA wants as many foreigners to come work in the USA and pay into Social Security but are never eligible to receive it. Just as Bush W did to restore SS. If you think no-one has control over Bitcoin, you are deceived.

    Bob SmithBob Smith7 jam yang lalu
  • Here again trying to understand what NBA top shot is now

    jordan woodsjordan woods7 jam yang lalu
    • Top Dollar Forex Investment

      Capt. Lee LosbachCapt. Lee Losbach4 jam yang lalu
  • So, numbers on a screen. What happens when everything, and I do mean EVERYTHING, comes tumbling down? What will be of true value and lasting worth? FOOD, WATER, CLOTHING, SHELTER, MEDICINE, FUEL, GUNS AND AMMO and KNOWLEDGE to survive. Just sayin'.

    American PatriotAmerican Patriot7 jam yang lalu
  • Crypto *game for crooks* folks 😃🇺🇸

    beni maXbeni maX8 jam yang lalu
  • Guess I won't be getting into bitcoin. Banking is much simpler to get into and explain ... and is as crooked as the US government. This video (if nothing else) clearly indicates a level of complexity that is far and away too intricate to not be hackable. Requiring a PhD to understand should be signal enough to stay away.

    lighten uplighten up10 jam yang lalu
    • Top Dollar Forex Investment is the best forex broker

      Capt. Lee LosbachCapt. Lee Losbach4 jam yang lalu
    • As it is said at 1:46, you don't really have to know that much in order to simply use it, just like you don't need to know how the mechanical engineering of a car works in order to drive it or know how TCP/IP works in order to use the internet. This video explains how it works internally, which is complex, but using it is much simpler.

      Discordador ProfissionalDiscordador Profissional10 jam yang lalu
  • biswa

    rushikesh kamavisdarrushikesh kamavisdar10 jam yang lalu
  • Why has China banned bitcoin mining in Mongolia and what are they afraid of ?

    Joseph SearcyJoseph Searcy11 jam yang lalu
  • biswa

    Siddharth BaggaSiddharth Bagga12 jam yang lalu
  • Imagine mining a block only to find out that two of the transactions arrived in the wrong order, and the whole block was invalid

    AlmonsoAlmonso12 jam yang lalu
  • Imagine how intelligent you have to be to invent that shit

    Bernhard SonnBernhard Sonn14 jam yang lalu
  • Who is here after Biswas stream 😁👍

    Kokcha's DenKokcha's Den14 jam yang lalu
  • 11:38 i read 100 LSD lol

    Bernhard SonnBernhard Sonn14 jam yang lalu
  • Why do the people Look like pii?

    Bernhard SonnBernhard Sonn14 jam yang lalu
  • What if I change the data before proof of work obviously I can't change the data after proof of work but what if I do it before doing proof of work?

    Sandeep ShivenSandeep Shiven14 jam yang lalu
  • This is the best explanation for bitcoin.

    Rajat sharmaRajat sharma14 jam yang lalu
    • Yeah but for more crypto issues you can contact this number +1848-228-4834

      Matthew WasyMatthew Wasy2 jam yang lalu
  • 'Satoshi' has joined the chat.

    Erison VeshiErison Veshi14 jam yang lalu
  • Here after Biswah's recommendation !

    Saish NatekarSaish Natekar15 jam yang lalu
  • Being financially free and having money invested in the most important factor in living a good free life. 99% Americans don't have money saved or invested and all the do is spend..

    KANG LEIKANG LEI15 jam yang lalu
  • This is the only video on the entire Internet that explains Bitcoin to the depth, Other only using technical terms but none are going to the depth, the math behind the BTC like 3b1b. Thanks for creating this video.

    Manish SharmaManish Sharma16 jam yang lalu
    • Inbox my trade analyst

      KANG LEIKANG LEI15 jam yang lalu
    • 4.......... 6........... 9............ 3........ 1....... 2.......... 2........... 9....... 7........ 1..... (+1 code)

      KANG LEIKANG LEI15 jam yang lalu
    • Thanks I appreciate your comments

      KANG LEIKANG LEI15 jam yang lalu
  • here because of BISWA KALYAN RATH

    Srishti SSrishti S16 jam yang lalu
  • You mean the system cant be defeated? What if the block chain fraud is executed like US 2020 elections? What if millions of people spread all over secretly join hands to fraud others? What if some AI bot does something nasty? Nothing can replace TRUST. Ultimately you need to be able to trust "that" with which you are interacting for exchange/transactions.. for a fair trade.

    Sheetal K.Sheetal K.16 jam yang lalu
  • Directly landing here after Biswa's crypto class 😁

    Aniwesh RanjanAniwesh Ranjan16 jam yang lalu
  • Biswa has suggested this video.. you will receive a sudden hike in views😂

    DhruvPatel ICTDhruvPatel ICT16 jam yang lalu
  • Biswa ke stream se kaun kaun aya

    Gaurav WasnikGaurav Wasnik17 jam yang lalu
  • I was able to build a big income stream during the covid-19 pandemic investing with a professional broker, Mr Thomas Anderson

    Karen SammyKaren Sammy17 jam yang lalu
    • @Khalifa Genesis You invest with Mr Thomas too? Wow, that man has been a blessing to me and my family.

      John Matthew SamsonJohn Matthew Samson17 jam yang lalu
    • @Samfia Jon I'm new at this please how can I reach your broker?

      Khalifa GenesisKhalifa Genesis17 jam yang lalu
    • @Mary Sammy I normally don’t do this, but coming across Mr Thomas in this channel, I just have to say something. He is indeed a tutor, he guided me even when I was being naive to the basics of trading. Thanks to him today I have made reasonable amount of crypto stacked up and a good trading capital.

      Samfia JonSamfia Jon17 jam yang lalu
    • @Sammy Trump Mr Thomas changed my life because of the high profits I got from investing with him.

      Mary SammyMary Sammy17 jam yang lalu
    • I'm surprised you know him too, I've been making lots of profit investing with him a few months now.

      Sammy TrumpSammy Trump17 jam yang lalu
  • Anyone after biswa like😂

    Ayush SinghAyush Singh17 jam yang lalu
  • Who's here after Biswa Kalyan Rath's stream?

    Vidur BhalavatVidur Bhalavat17 jam yang lalu
  • Biswa mast aadmi.

    Mukesh YadavMukesh Yadav17 jam yang lalu
  • Biswa reference 😎

    Deepraj evaneDeepraj evane17 jam yang lalu
  • who is here after biswa video

    Samerth SharmaSamerth Sharma17 jam yang lalu
  • I Invested in Crypto and stocks but believe me crypto is better than stocks

    Nicky JingNicky Jing18 jam yang lalu
    • Bitcoin holders are termed to be one of the richest people in few great to come..invest now

      Jin PrinceJin Prince18 jam yang lalu
    • I advise new and old invest investors to seek professional guidance and assistance an expert broker who understands the market in order to avoid unnecessary losses

      John PeterJohn Peter18 jam yang lalu
    • @Lawrence Best .+1 9 0 3 5 2 7 7 3 0 4

      Wavy MarkWavy Mark18 jam yang lalu
    • @Lawrence Best watsap ☝️👇

      Wavy MarkWavy Mark18 jam yang lalu
    • @Lawrence Best .+1 9 0 3 5 2 7 7 3 0 4

      Wavy MarkWavy Mark18 jam yang lalu
  • Bitcoin doesn't work; You do.

    JL PhillipsenJL Phillipsen22 jam yang lalu
    • +1 9 0 3 5 2 7 7 3 0 4 Watsap

      Nicky JingNicky Jing18 jam yang lalu
  • (CORRECT ME IF IM WRONG) I think I learned something new with that output thing, u can raise how ever many of the numbers available by the amount of positions that number can be in place in -> in order to find out how many different numbers there could potentially be. For instance if there is a 16 number sequence, and in each individual number in the sequence (so there’s 16) it is either 3, 5, 8, or 9 at random. You can say 4^16, which would give me how many potential answers I could have in this sequence. Right? (Btw I rlly should do my math hw and study for my psychology test tomorrow)

    The Bran ClanThe Bran Clan23 jam yang lalu
  • great work sir.......explained simply

    Harshit MouryaHarshit Mourya23 jam yang lalu
  • Yeah I'll stick to cash

    AlekseyAleksey23 jam yang lalu
  • This looks like a great design to ensure the integrity of the system but the drawback is that it’s very resource intensive.

    CF WinCF WinHari Yang lalu
  • Here is a simple cryptocurrency... any video game coin or gem or whatever

    That Redheaded KidThat Redheaded KidHari Yang lalu
  • isn’t it a lot of data for everyone to hold on to. Surely having a log of EVERY transaction is a lot

    AchillesAchillesHari Yang lalu
    • @Sagar Nath The ethereum blockchain is around 60KB each, and with all 11.5 million blocks right now you have 690GB of total transactions (not to mention the time it takes as a full node to verify one). In order to spam block rewards you need more hash power than EVERYONE else combined (called a 51% attack), which is very unlikely and has only happened once so far.

      Eric JEric J6 jam yang lalu
    • @Sagar Nath i might be wrong, but i think a single user can’t do that because they don’t have enough computing power to outrun all the other miners combined

      AchillesAchilles7 jam yang lalu
    • Same doubt. Also isn't it possible for someone to use a lot of computation inorder to add a huge amount of bitcoin to their account in one transaction?

      Sagar NathSagar Nath14 jam yang lalu
  • Best video on IDworlds.

    Paul ClarkePaul ClarkeHari Yang lalu
  • I tried every recovery method to get my phrase account back but none of them seemed to workout except this outstanding dude HACKERLORD12345 on Instagram. He is the best...

    Jane ScottJane ScottHari Yang lalu
  • I tried every recovery method to get my phrase account back but none of them seemed to workout except this outstanding dude HACKERLORD12345 on Instagram. He is the best...

    Jane ScottJane ScottHari Yang lalu
  • I tried every recovery method to get my phrase account back but none of them seemed to workout except this outstanding dude HACKERLORD12345 on Instagram. He is the best...

    Jane ScottJane ScottHari Yang lalu
  • I tried every recovery method to get my phrase account back but none of them seemed to workout except this outstanding dude HACKERLORD12345 on Instagram. He is the best...

    Jane ScottJane ScottHari Yang lalu
  • It's the best video on IDworlds for leaning how the bitcoin protocol works. So we'll . made!

    Ohad RapsOhad RapsHari Yang lalu
  • I have traded with a lot of individuals but I have never come across anyone as good as *Metro__Kelvinfx* on IG, just by applying his strategies, I now trade independently. he is the best I'd advise any novice in investing to trade with him. ..

    Suleiman GwadaSuleiman GwadaHari Yang lalu
  • My PI Network invitation code: MarkoMcGrady

    McGradyMcGradyHari Yang lalu
  • 'Quantum_Bits' has joined the chat.

    xXinsaneboyXxxXinsaneboyXxHari Yang lalu
  • props for making this video with dark background! small details but makes it so easier to follow

    OthManOthManHari Yang lalu
  • The significant difficulties financial backers face may go from controlling lack of caution to the slight of impulse. Most novices and would-be financial backers frequently sabotage and regularly disregard the significance of specialized investigation concerning exchanging. Specialized investigation excessively predicts the development of resource costs paying little mind to what's going on in the more extensive or more extensive market. Basically, the interaction includes contemplating the ways of a specific resource development before to build up a maintainable example that can be utilized to anticipate future developments. I would urge financial backers out there to exchange with the little they have or duplicate exchange alarms from an expert merchant. I have been utilizing Ryan Robert exchanging Signals and Strategy Designer since the last bear market, expanding my portfolio day by day. With his system/signals, I have had the option to develop my portfolio to 14 btc with my underlying 0.9 btc. A few group may need to Rea ch out to him to likewise become their Crypt0 . tel_le-gram@Withryan. through WhAtSaPp+1 (204) 410 1947

    MichelleMichelleHari Yang lalu
    • Spot on! trading with Ryan strategy is nothing new to me on this space. I've been his student since late 2020 and He's been a great mentor to me! All th@nks to h!m

      Rawlings EricaRawlings EricaHari Yang lalu
    • Honestly the right information is wI believe the benefits of a successful trade comes from an expert That we need to succeed.

      Damion BaileyDamion BaileyHari Yang lalu
    • I was introduced to bitcoin by my uncle as a newbie she suggested the best way for me to learn and earn is through Ryan and when reach her to her she didn’t disappoint

      Gunter BrandlGunter BrandlHari Yang lalu
  • People brains glaze over when you talk about fiat currency. Wait until they get a load of this. Can't see this flying w. Lots if people. Some buying don't gave a clue what they're purchasing. They just jump on the wagon.

    Debbie HanischDebbie HanischHari Yang lalu
  • Hello I'm new to bitcoin trade and i have been making few loses, but recently i see a lot of people earning from it , can someone please give me a new strategy or at least tell me what I'm doing wrong?

    Jerry WebsterJerry WebsterHari Yang lalu
    • For more enlightenment chat on W'h'a't's'A'p'p/ +'8'5'5'0'9'7'6'8'4'7'4'5'1

      James NelsonJames NelsonHari Yang lalu
  • Accounts with pictures of old women in this comment section be like "the decentralization of the computational interaction in the more extensive market to duplicate exchange alarms...". Shut up Rebecca.

    A BA BHari Yang lalu
  • The aware stretch prenatally need because tennis kelly burn lest a jumpy knife. frequent, abject october

    jaiden bjaiden bHari Yang lalu
  • Nice and informative video... Well i will also say this here, Bitcoin (BTC/USD) is still pushing higher in a bullish pattern and the leading asset still had more future which a lot of top analyst suggested that it will break the 50,000 resistance zone against the US dollars. Nevertheless it is not wise to keep holding at this point in time, it is best we keep trading by getting involve in day trading and grow the little asset we hold or buy to accumulate more ahead of the bullish predictions. Bitcoin trading has been favourable and profitable because i employed the right strategy/daily signals provided by a Expert trader known as RamAsalya,he is not just a pro but also life savings when it come to bitcoin trading signals and so far have gained so much under his umbrella. În just 5 weeks of activeły trading with his daily signals, i was able to accumulate and grow my portfolio from 1.1btc to a total of 5.89btc which you will agree is a nice one. He can be reached on T elegram (@RamiAsalyaExpert) for his assistance. Lets be positive and remain winnin

    Lei NguyenLei NguyenHari Yang lalu
    • @Robb Holding After trading with Rami’s strategy my eyes are now open i have more knowledge and better understanding about crypto and bitcoin Trading and the whole business

      Lei NguyenLei NguyenHari Yang lalu
    • Rami has the most accurate trade s!gnals i have ever used and he is also a great teacher. Learnt a lot from him already

      Anderrlla VicenteAnderrlla VicenteHari Yang lalu
    • Positive remarks is all I have read and heard about this Rami for a whle now.would love to seek his assitance soon when i'm ready

      jolly kimsjolly kimsHari Yang lalu
    • I made a withdrawal of 5btc yesterday too from trading with Mr Pomp, i also advise traders who are lacking good signals to contact him today.

      Robb HoldingRobb HoldingHari Yang lalu
    • @Corey Matthew Tested and trusted💯 I recovered all my loses dealing working with{RamiAsalyaExpert} on ͲҽӀ ɾąʍ. they work perfectly and trustworthy💪

      kristein markkristein markHari Yang lalu
  • Click like if you want to see a 3B1B video on SHA256

    Coino ClastCoino ClastHari Yang lalu
  • Stocks are good but investing in crypto right now will be the wisest thing to do as the market is much favourable now.

    klim poklim poHari Yang lalu
    • For more enlightenment chat on W'h'a't's'A'p'p/ +'8'5'5'0'9'7'6'8'4'7'4'5'1

      James NelsonJames NelsonHari Yang lalu
  • Bitcoin developers don’t come forward. There’s gigantic servers that mine Bitcoin funded by who? Who gives them access to join this network ? There’s so call transactions made daily but who in there right mind uses a unstable currency. So many questions

    inixratediniinixratediniHari Yang lalu
  • Neat!. Subscribed.

    Faisal KhanFaisal Khan2 hari yang lalu
  • Really well done, thank you

    frogimmortalfrogimmortal2 hari yang lalu
  • trading right now will be at the of every wise individual’s list. In 2years you’ll be ecstatic with the decision you made today

    Kiana HubbardKiana Hubbard2 hari yang lalu
    • Wow all you fake guys here

      Smit ShilpatulSmit ShilpatulHari Yang lalu
    • I tried trading without a professional like alana Blair is like gambling with your money

      Keren seyller VanvleetKeren seyller Vanvleet2 hari yang lalu
    • Lost €1200 carelessy trading on a platform then I was referred to Alana Blair she recoverd the loss and made an extra profit of €4600

      Silvia WagnerSilvia Wagner2 hari yang lalu
    • Trading on your own is very risky

      Silvia WagnerSilvia Wagner2 hari yang lalu
    • Trading crypto now will be wise but trading with a professional is not.

      Alexander LucasAlexander Lucas2 hari yang lalu
  • Wishing I had seen this video three years ago

    Code DebCode Deb2 hari yang lalu
    • Massive earning with Mrs Florence for more enlightenment W'h'a't's'A'p'p/+'8'5'5'0'9'7'6'8'4'7'4'5'1

      James NelsonJames NelsonHari Yang lalu
  • if one block is limited to 2400 transactions, and one new block is added every 10 minutes, what happens if there are more than 2400 transactions waiting to be added to the chain? if popularity of bitcoin trading increases, doesnt the number of transactions get much bigger than 2400 every ten minutes? will the system keep up with the number of transactions? am i missing something?

    Adrian MišakAdrian Mišak2 hari yang lalu
    • the limit is there to prevent spam, can be raised at an increased storage cost for the nodes. Your question is the most interesting. many altcoins propose solutions to this, that if proven secure, can be adopted by btc in the future.

      Jon CVSJon CVSHari Yang lalu
    • @plasticman2011 interesting... thanks for the explanation

      Adrian MišakAdrian MišakHari Yang lalu
    • Transactions wait in the mempool and can increase fees to get included into a block sooner. Ultimately there is a fee market where low fee transactions get priced out, but they can use a second layer protocol like lightning network to make transactions.

      plasticman2011plasticman2011Hari Yang lalu
  • Great video @3Blue1Brown but there is still a level of metaphor that is annoying me and preventing me from understanding. You talk about individual users sending/receiving updated blockchain transactions. Ok, but where is that then stored? Locally? I get the "longest" blockchain transmitted to me via what? Where is it stored? Is that all dependent on some specific application? Does this whole system imply that it would completely cease to function if all the miners and users simply deleted their records and never updated again?

    boywisardboywisard2 hari yang lalu
    • All network full nodes store the full blockchain on their own computers - stored locally and across the network, but you can run a light client where you only track the transactions you are interested in. All transaction data including blocks are relayed on a peer to peer network. Yes, all data getting deleted would cause the network to stop working, but I'm not sure why people interested in their bitcoin wealth would choose to shoot themselves in the foot like that. It isn't that much data anyway, the blockchain can only grow about 100 gigabytes per year. About half a terrabyte so far in total.

      plasticman2011plasticman2011Hari Yang lalu
    • Also, if the ledger is the sum of ALL previous transactions, how the heck is it feasible to sustain that going forward? A ledger would be ridiculously huge at some point and you are saying that that is also being transmitted among nodes constantly?!

      boywisardboywisard2 hari yang lalu
  • Why are the subtitles different than the spoken words? That's so extremely infuriating..

    ViralNewsViralNews2 hari yang lalu
  • Pi invite code: BlackxMamba

    Arslan TArslan T2 hari yang lalu
  • cash still remains king

    J3KB0TJ3KB0T2 hari yang lalu
    • *inflation laughing*

      ConceptSoundsConceptSoundsHari Yang lalu
    • good luck having your money depreciate every year

      flflHari Yang lalu
  • Seriously. This is the best (most comprehensible) video about proof of work on the net.

    sempervirentzsempervirentz2 hari yang lalu
  • i would like to understand the mentality of people who are disliking his videos.....more than the terrorists

    Shivam KushwahShivam Kushwah2 hari yang lalu
  • But from where does the true value of bitcoin originate? Is it purely intrinsic or a function of external factors like how much time and energy (bill) went into the mining of whether Tesla is investing?

    Château RobinetChâteau Robinet2 hari yang lalu
  • How does this system change with quantum computing??

    Nolan VaughnNolan Vaughn2 hari yang lalu
  • FACTS ABOUT BITCOIN: It has NO service or product, NO income or asset backing and NO regulation protection. The SOLE OBJECTIVE is to attract evermore new cash from greater fools to drive the price higher so that the earlier punters can cash out with huge profits. Simple, blatant objective. CRIME: and yes, Bitcon is perfect to evade sanctions and taxes, drug payments, terrorism, ransoms and other illegal activities.

    Scott MackieScott Mackie2 hari yang lalu
    • @Scott Mackie if that's true, who do you think is the charles ponzi or madoff of bitcoin? I'll answer it the question for you - bitcoin is a completely open and decentralized system so there is no madoff or charles ponzi orchestrating such a scheme. It's not a ponzi. Now the US dollar on the other hand...

      plasticman2011plasticman201114 jam yang lalu
    • @plasticman2011 crypto / Bitcoin is a blatant PONZI scheme.

      Scott MackieScott Mackie20 jam yang lalu
    • That's a lot of words to just say "store of value", one of the key features of money.

      plasticman2011plasticman2011Hari Yang lalu
  • Well, I'm not sure if I understand this but it explains a part of the equation, the mining part. But since that depends on speed and computational abilities, that raises questions about who owns better hardware that may not be available to everybody else, who invented the hash functions and simultaneously what if the owners have an agreement to reject or override other's blocks of transactions at will, like if the work has already been meditated since years but not been introduced to the chain yet. Then there's the value that's based on demand and the pubic agreement that a digital asset that serves little or no purpose has a value. To me the whole thing still sounds like a big gamble especially for someone who buys the currency rather than mines it. Thanks for the video 👍

    Omar AlkhatibOmar Alkhatib2 hari yang lalu
    • @Omar Alkhatib if you want to understand it, consider reading "The Bitcoin Standard" by the economist Dr. Saifedean Ammous

      plasticman2011plasticman201112 jam yang lalu
    • Then I guess I dont understand it. Thanks.

      Omar AlkhatibOmar Alkhatib18 jam yang lalu
    • Bitcoin is an open system, all the users are the owners. Miners are just workers.

      plasticman2011plasticman2011Hari Yang lalu
  • When you realise that there are many topics that he has not touched:

    Tenxor EngineTenxor Engine2 hari yang lalu
  • Ok fine but what is π doing here?

    Tenxor EngineTenxor Engine2 hari yang lalu
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    Kenny NguyenKenny Nguyen2 hari yang lalu
  • 4:37 emmh... no? In fact, every signature is different, even when you need to sign multiple time on the same document (especially that, because you grow tired). Physical signature has always been bullshit.

    IIARROWSIIARROWS2 hari yang lalu
  • You sound like you were wearing a mask while narrating this video. It's very muffled.

    The Founding Fathers were DeistsThe Founding Fathers were Deists2 hari yang lalu
  • 1G54NR356V5YMG4F3CBtkep5Pf5DaiR2Xt

    NSTYFatManNSTYFatMan2 hari yang lalu
  • I first watched this when you released it and since I have come back time and time again to share with others because it's still the most comprehensive explanation of blockchain technology. Even if it has moved on slightly. 👌👏

    John WoodJohn Wood2 hari yang lalu
    • Hello mate, I glanced through your page and I have a business proposal for you. Dm let me give you an insight

      Jonny GodfreyJonny Godfrey2 hari yang lalu
  • I was following pretty well until the block creation process. If blocks are chained to other blocks then how can someone just grab a bunch of transactions and build a block? Doesn't the new block need to be chained to prior blocks? If everyone is building blocks at the same time, which block is the last one to chain to? Wouldn't everyone be building different sized blocks of an arbitrary collection of transactions? What makes one chain longer than another if it is only one giant long chain? If chains are not connected to each other (how would that happen?) then couldn't chains contain different collections of blocks? If so, how would I know whether my transaction was included in a block or not? It just seems like a gigantic mess! There must be something missing in Grant's explanation.

    Steve ManusSteve Manus2 hari yang lalu
  • Great video! Thanks for putting in all the effort!

    Niggo HazerdartNiggo Hazerdart2 hari yang lalu
  • good job buddy, like & subscribe as well

    X-L MX-L M2 hari yang lalu
  • What happens if a large portion of miners collude to create a fraudulent block? Would they have to keep it up? would everyone continue to build on top of the fraudulent block?

    Nicholas SantosoNicholas Santoso2 hari yang lalu
    • The fraudulent block is rejecting by the peers who received it, if it is invalid that act as if they didn't receive anything and can even disconnect the miner from their network of neighboors if the miner spams fraudulent blocks. No one else will ever know about the fraudulent block.

      Theo PantamisTheo PantamisHari Yang lalu
  • I wonder how many scammers will reply to this comment.

    Muzik BikeMuzik Bike3 hari yang lalu
  • Hello, please how do I buy Bitcoin, I kept trying it but it's not working and please what is digital wallet? Please don't get walked up with my questions am just a newbie.

    Leo PatrickLeo Patrick3 hari yang lalu
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  • Understanding blockchain is more important

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  • investing in crypto now is really cool especially with the current rise in the market for now

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  • LiteCoin going strong

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  • A "real US dollar" is a Troy ounce of 99% pure silver. "Real" money is a weight of precious metal. The scum who call themselves "government" hate real money because productive people with real money in their pockets live free of "government" interference, inflation, taxation, auditing, and control.

    John BrooksJohn Brooks3 hari yang lalu
  • OMG i have 10.457 bitcoins on my old saver(computer)....

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      Shannon ElizabethShannon Elizabeth2 hari yang lalu
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      Maryland Guy0326Maryland Guy03263 hari yang lalu
  • Here we go: when he starts talking about digital signatures he says “ anyone can get into the ledger and make entries” but then he uses one of the four in his example. So does he mean that anyone within the magic circle can access the ledger or can anyone in the world access it ?

    John LawrenceJohn Lawrence3 hari yang lalu
    • You can maintain the ledger without having bitcoins. The 4 lines which create Ledger Dollars are just for the example between friends. In Bitcoin, you can get tokens if you mine or buy them from someone else.

      Theo PantamisTheo PantamisHari Yang lalu