Bitcoin Blockchain Explained in 5 Minutes | What is Bitcoin FOR DUMMIES | Vlog #1


what is Bitcoin for dummies, in this
video I want to share with you what is
Bitcoin for beginners I know I’ve done a
ton of videos about Bitcoin already but
I really want to take a beginners
approach on what bitcoin is so I want to share topics like
you know, what is Bitcoin why use it how
to use it on how to buy it where to buy
it in specific countries and stuff like
awareness stories and stuff like that
but before I go into this video I want
to do a huge shout out to Linda from
pink support o for sending me this
awesome gear I got shirts with custom QR
codes and this is really cool the
clothing line that he has set up it’s
awesome go check him out on Instagram
all link his Instagram down below for
you guys if you’re interested but let’s
get into the video right now so what is
Bitcoin and how does it work
bitcoin is a digital currency it is held
and created electronically by us the
people it’s the people’s money
nobody really controls it but us so no
large financial institutions that
monopolize the financial you know the
money about the world we are in control
btc is decentralized and it’s pure supply
and demand
okay, what is Bitcoin has some key
characteristics that set them apart from
any government currency one of which is
it’s decentralized it’s easy to set up
it seemed it’s anonymous it’s completely
transparent the transaction fees are
minuscule it’s fast and it’s non
reputable now let’s break this all down
what does it all mean what is
decentralized
well decentralized means that there’s no
central control point there is no big
coin company number two it’s very easy
to set up I can literally set you up
with
your own bank in two minutes number
three it’s anonymous when you do a
transaction people can see on the open
ledger what transaction is done so I can
see that right now there’s ten Bitcoin
sent to some other address but I don’t
know which address it is I don’t know
who the sender is I don’t know who the
receiver is number four it’s completely
transparent like I said I can see that
the transaction is happening on the
ledger the blockchain but I just cannot
see who the sender receiver is there’s
no name link to it it’s just a 34
character code the the Bitcoin address
that’s all I can see I can note I cannot
see any names number five the fees are
minuscule on average with Western Union
bid nine percent fee with Bitcoin you
don’t I can send money from here from
Amsterdam to Thailand and it’s gonna
think that it’s gonna cost the same
amount of money to send it there then it
would me sending it to the United States
or to Australia and it’s less than a
dollar number six it’s fast I can set
this money to Thailand and it arrives in
seconds and number seven when you send
your Bitcoin you cannot get it back it’s
not like a credit card or PayPal where
you can do do charge backs so for
businesses this is really cool because
your customer once they made the
transactions they cannot sit they cannot
get their money back it’s a push only
type of deal and no pulling so my advice
would be if you’re sending your Bitcoin
out which you’re gonna learn in later
videos how to do that make sure that the
address is airtight because once you
send it to the wrong address there’s no
way to get it back if you want to get
some Bitcoin I’ll link down below a link
in the description if you buy more than
$100 worth you get an extra $10 with my
special link so check that out if you
don’t have pick one or
so that will say guys for today what is
Bitcoin for dummies if you liked this
video give it a like if you have any
other questions comment below and I’ll
answer every single one of them and let
me know what you think of the t-shirts
and I might do a giveaway very soon see
you on the next one guys

17 thoughts on “Bitcoin Blockchain Explained in 5 Minutes | What is Bitcoin FOR DUMMIES | Vlog #1

  1. I'm an I.T. professional that have been in the field for over 30 years and I specialize in Penetration testing and computer forensics.

    Matt, the bitcoin web site clearly says it is NOT anonymous.

    If you believe Bitcoin or other crypto currencies are a good thing, then you have been fooled by the New World Order. You are just as fooled as those that believe Apple and Google when they talk about how secure their phones are. (Not secure from them).

    All crypto currencies are the biggest threat we have ever faced on our planet. You can't eliminate government intervention, and that is the problem because once you are addicted t0 the new drug, you will run to whoever is the only one offering it.

    Of course they will control the block chain and once they know what your account is, they will be able to track you every place you g0, and will be able to prevent you from buying ANYTHING.

    Imagine what happens if a Pol-pot comes to power and decides your child needs "re-education". You can either comply (and watch your child die) or run, or fight. You can't run when the blockchain ledger identifies your every position on the fly. And you can't fight when you can be prevented from buying guns, ammo, medicine, food, all you can do is wait for the goons to show up and kill your child in front of you.

    If you aren't willing to disgard the money you could make with Bitcoin, then I say you are not really willing t0 fight the NWO, because the fight is right in front of you now, and you are ignoring it.

  2. Fools going into the lizard hole.
    if there is no one to monitor and govern it, then who is the one who is taking the transaction fee.
    WAKE UP PLEASE!!!

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