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A few short videos to help make sense of Bitcoin for you

by BZ ⒾAM Riger / Sunday, 14 May 2017 / Published in Absolute Data

A few short videos to help make sense of Bitcoin for you

index

Bitcoin explained and made simple | Guardian Animations

Published on Jun 25, 2014

Baffled by bitcoin? Confused by the concept of crypto-currencies? Well, fear no more. In 190 seconds we explain what bitcoin actually is, where the idea came from and the impact it’s having around the world. Is bitcoin the future of finance, a potential destroyer of the economy … or just a silly slice of technical utopianism?

 

Bitcoin For Beginners – Learn How To Mine Bitcoin ! – Part 1

Published on May 13, 2013

What is Bitcoin? and How do you mine it? Well, this video will go over Bitcoin mining and show you how to set up Bitcoin Mining Software on your computer. Bitcoin is a digital currency, which is supported by a P2P network of computers across the internet that act as servers to process the financial transactions of this currency. Some believe Bitcoin is a Scam, or Ponzi scheme, but once one understands the concept of Bitcoin, it is clear that it is not. While the uses for Bitcoin are virtually infinite (paying for goods, services, or money laundering, gambling and drug smuggling) it’s structure remains concrete and open source. However, the VALUE of each Bitcoin is disputable. In theory, Bitcoin becomes harder and harder to mine, which means it takes more and more energy (electricity for your computer/”mining rig” to run) to process Bitcoin and solve “Blocks” of data. Therefore, the price of Bitcoin may be related to the price of energy and the cost of maintaining this network. While it is easy to assert that there will be additional computers added to the network daily, which would ease the work load on the initial nodes, one can only speculate that the price of Bitcoin MUST increase over time. Especially when power costs in the foreseeable future will be rising.
Currently, only 21,000,000 Bitcoins can be created, but that I guarantee will rise, as many are hoarding the coins and there just simply wont be enough to go around and not enough work, or transaction data, for the increasing number of miners out there.
Specialized computers and “Mining Rigs” are becoming available from companies such as Butterfly Labs and others, which harness ASIC technology. ASIC means application-specific integrated circuit- so these devices are engineered to mine Bitcoin and only mine Bitcoin. This creates an extremely powerful, and efficient machine, over 100x times more efficient than current setups. These machines are said to be able to mine Bitcoin up to 50 GH/s (if that means anything to you, but it’s A LOT) extremely efficiently! More efficient than any desktop computer rig. None of these super computer miners have been shipped/received and it is still extremely uncertain whether these companies are scamming people or not. (I wouldn’t PRE-order a $3,000 machine promising me all the money in the world, but many are)
SO – If these machines come to market, they will truly dominate all others and render most other PC’s/Rigs worthless. Anyways, enjoy the video!

LEARN MORE AND JOIN THE CONVERSATION ON SOCIAL MEDIA!
BitCoin For Beginners Facebook Page
https://www.facebook.com/pages/Bitcoi…

BitCoin For Beginners Twitter
https://twitter.com/BTCBeginners

___________________________________________

Bitcoin Wallet: http://bitcoin.org/en/choose-your-wallet
GUI Miner: https://bitcointalk.org/?topic=3878.0

BitCoin Calculator: https://bitclockers.com/calc

Monitor How Many Watts Your Computer Uses:http://www.newegg.com/Product/Product…

MH/s Hardware Comparison: https://en.bitcoin.it/wiki/Comparison…

BitCoin For Beginners – Part 2: http://www.youtube.com/watch?v=ZEV3QF…
BitCoin For Beginners – Part 3: http://www.youtube.com/watch?v=pvrVtC…

 

Bitcoin Mining Explained

Published on Apr 30, 2017

http://bitclubusiness.com

 

TOP 5 WAYS TO BUY BITCOIN IN 2017

 

 

Published on Dec 22, 2016

Coinbase: http://bit.ly/1VR40Ot
LocalBitcoins: http://bit.ly/2hvIbqk

Use the code TAFzNt and get 3% every time you purchase hashpower to mine Bitcoin ZCASH and a ton of other Cryptocurrencies at https://www.genesis-mining.com/a/228196

(FREE BITCOIN!)

https://youtu.be/g2i9f5Zy5MI

Get $10 worth of Bitcoin for when you set up your coinbase wallet https://www.coinbase.com/join/566df35…

My BTC address for donations:
Bitcoin: 1AAQVDrBjQLXxpKZbuyHMT58xirUhxcYK4

Twitter http://twitter.com/trevonjb
Facebook http://Facebook.com/trevonjames89

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