What is Bitcoin?

According to Wikipedia, Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator. It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software.

Below you will find a list of short videos, each talking about different aspects of how Bitcoin works. I recommend starting at the top and making your way down as you have time. When you reach the end, you will be able to read and understand the above paragraph.

Note: These videos are listed in order of importance. Towards the bottom you will find many videos that are NOT AT ALL required to UNDERSTAND Bitcoin. For those interested however, they are great resources that pose interesting thoughts, questions, and debates.

Basic intro to Bitcoin

Bitcoin, like any other invention, was created to fulfill some kind of need. Learn the reasons Bitcoin was invented in the first place.

Intermediate intro to Bitcoin

Now that you know the benefits that Bitcoin provides, let’s take a look at how it actually functions. Learn the basics of Bitcoin.

Advanced intro to Bitcoin

Learn the advanced and mathematical ways Bitcoin operates.

What is a Bitcoin address?

In order to send Bitcoins, you need a private key. In order to receive Bitcoins, you need a public key. Learn what public and private keys are. These are also sometimes called public address and private address .

What is a Bitcoin wallet?

In order to store your Bitcoins, you need something called a wallet. Learn how wallets operate. Also learn more about what a Bitcoin address is and does.

What is the difference between a cold wallet and a hot wallet?

How should I store my bitcoins?

There are many types of wallets used to store Bitcoins. These wallets vary in safety depending on how cold or hot they are. Cold generally refers to the safest, while hot refers to the riskiest. Learn about hot and cold wallets.

What is the role of Miners? What are Mining pools? What is an asic?

Miners are responsible for creating blocks of transactions that will be added to the blockchain. Learn the function that miners play in the Bitcoin protocol. Also learn ways in which miners try to gain advantage over other miners.

What is the role of nodes?

Nodes are what give Bitcoin its Peer-To-Peer design. The more nodes there are, the more secure the network is. Learn what nodes are and how they operate.

Who created bitcoin?

Bitcoin was created in 2009 by an unknown person(s) using the alias Satoshi Nakamoto. Learn more about the creator of Bitcoin.

Is the creator of Bitcoin in charge?

Although Satoshi Nakamoto created Bitcoin, he no longer has control over it. Learn why the creator of Bitcoin is not in charge. Also learn why we don’t have to trust them. 

Who can change the way bitcoin works? *Is someone in charge? *Is ANYONE in charge? *Is everyone in charge?

Now that we know that Satoshi Nakamoto is not in charge of Bitcoin, we must ask who is. Learn who can change the way Bitcoin operates.

What is the supply cap of bitcoin? *How is Bitcoin distributed? *Is Bitcoin distribution fair?

In order to have a finite currency, Bitcoin limits the maximum amount of units that will ever be created. Learn how Bitcoin is limited to 21 million coins. Also learn how Bitcoin has handled the distribution of wealth.

What happens when the block reward is zero?

A very common question: What happens when 21 million Bitcoins are mined? Every four years, the reward for mining a block is reduced by half. Sometime in the future, the block reward will be zero and the supply will be 21 million. Learn how Bitcoin deals with the issue of decreasing reward.

Is Bitcoin in a bubble?

One of the most commonly said phrases about Bitcoin: “Its in a bubble!” Learn more about the Bitcoin Bubble.

How secure is sha-256?

how secure is bitcoin?

SHA-256 is the security algorithm behind Bitcoin. Learn how safe SHA-256 is.

What is a 51% attack?

One of the most talked about negative aspects of Bitcoin is the 51% attack. Learn what a 51% attack is.

What is a fork?

When a person or group of people want to change the way Bitcoin works, they must create a fork. Learn about how forks affect Bitcoin.

Does Bitcoin offer privacy?
*Is Bitcoin traceable?
*Is Bitcoin anonymous?

Learn about the privacy Bitcoin currently offers, and what is hopes to offer in the future. Also learn if Bitcoin is anonymous, both on an individual scale, and on a mass scale.

What is the future Of bitcoin?

There are many uses that Bitcoin can be applied to. Learn about a few uses other than currency Bitcoin may take on.

How similar is Bitcoin today to the Internet in the 1990’s?

When the Internet first became available to the masses, most still did not see the potential it had. The uses of the Internet were not even possible to imagine at that time. Learn how Bitcoin today is similar to the early days of the Internet.

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Comments

  1. Avatar Bitcoiner says:

    Useful info

  2. Avatar luke says:

    Bitcoin price is rising again

  3. Avatar jan says:

    very informative guide but the page is loading slow, at least this happens on my mobile

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