Video Creator’s Channel Russell Brand

That List Of Stuff Was Children Ive Just Been

It’s just been explained to me that the learning tool that I used to understand. This was a special bitcoin for little children. Bitcoin you keep asking me about Bitcoin Do a video on Bitcoin Do you know about Bitcoins and crypto currencies well the truth is I don’t but I didn’t know much about the great reset until you explain it to me. Let’s begin a series on Bitcoin. Let’s understand Bitcoin Is it the solution to the world’s financial problems is it a new decentralized form of currency that could radically alter the world economic system.

How Does It Work Can It Be Influenced

by powerful people. Can it be controlled by powerful people or is it a genuinely revolutionary form of currency? Let’s learn about Bitcoin together right now and then potentially buy some Bitcoin was invented in. 2008 by an anonymous inventor who calls themselves Satoshi Nakamoto Bloody Hell I mean this is fantastic Isn’t it Satoshi Nakamoto, an anonymous inventor. No one knows who he is or she is just turns up and invents the currency and then just disappears back into the mysterium, which is a type of penny piece in their world. There’s bitcoin there’s litecoin there’s ethereum so just what is cryptocurrency and how does it work Essentially It’s digital money that is bought and sold online.

There Are No Bills Or Coins.

It’s not based on another asset. Like gold and it doesn’t go through traditional financial institutions like banks okay so far so good Obviously. Paper money is somewhat faith-based because it’s no longer backed by a federal reserve people say now that the dollar is backed by the power of the gun rather than the power of gold and the. that there’s no centralized bank behind it that’s positive isn’t it because we all know from 2007 2008 how negative financial institutions can be and how corrupt and exploitative and no one was punished.

So You Can See Why There Would Be

an appetite for a new system such as Bitcoin so far. Although what I really want to understand is how does it operate. I recognize you can buy it online, but I want to know what its essential value is and how it operates as a currency. These currencies operate in a completely decentralized system that uses so-called blockchain technology to track transactions say that alice wants to buy a bike from Dan using Bitcoin Alice begins by logging into her bitcoin wallet with a private key. A unique combination of letters and numbers with a traditional financial transaction.

The Exchange Gets Sent To Banks On

each side. record the money being subtracted from one account and added to another. I was a struggle to understand actual normal banks what Alice has given this money to Robert why just give her the Goddamn Bicycle you capitalist Pig Alice’s transaction is shared with everyone in the Bitcoin network. These networked computers add Alice’s transaction to a shared list of recent transactions known as a block every 10 minutes. The newest block of transactions is added on or chained to all the previous blocks that’s how you get a blockchain to ensure that each block of transactions on the chain is verified a subset of Bitcoin’s network joins a race to solve a very difficult math puzzle wow that bit’s pretty amazing isn’t it there’s a race that goes on.

Theres An Anonymous Inventor Who No One Knows

who they are there’s a race to solve a puzzle. I mean. I suppose if you break down ordinary financial transactions? There’s a there’s a picture of Benjamin Franklin or her majesty the queen. You give it to the cobbler and he’ll repair your boots. I mean all of that sort of mad and magical in its own way, But I didn’t know this.

I Dont Know There Was A

race against time inside a computer like tron and if they solve it first their record of the block of transactions becomes the official record. They’re rewarded with bitcoins of their own and the network gets a new block on the chain. This entire process is known as mining. Also they’re using I suppose as they would a lot of terms and words that belong to the old good old-fashioned world of yeah, you get your wallet and you get your old timey clock piece and then you just mine yourself some. coins, I mean that’s I think adding to the mystery in my mind.

This Sort Of Sudden Collision Of These

rather conventional artistic old-fashioned terms and this hyper-modern almost beyond comprehension world of digital finance but instead of chipping away at rock you’re solving complex puzzles the fact that many computers are competing to verify a block ensures that no single computer can monopolize the bitcoin market whose computers are these well anyone’s can we get involved in this computer race All of and the computer’s doing that independently or is there someone doing it. The computer’s got its own autonomous life or it’s racing against having computers. I mean that’s one of the things what is this cars they’re all alive because it’s Thomas the tank engine like they’re all doing this stuff independently with their own personalities by getting me to analyze bitcoin. This probably is a good. getting beginners to understand it because I’m starting out beneath remedial level of comprehension and just trying to claw my way up through this information, Baffled and envisioning it all as a kind of version of the matrix.

So The Miners Have An Incentive To Keep

doing the auditing work and keep the currency going. Meaning there’s no need for a bank or government body to manage all that money. Even though all those bitcoin transactions are public. We have no idea who the people behind them are like Satoshi Nakamoto Bitcoin’s inventor his or her or their identity is still a total mystery. I mean I partly want to be involved not for financial reasons because it seems like being in Lord of the rings.

I Want To Sort Of Know

about like what if you buy some bitcoin that you can acquire hold on I’ve got data here. In a number of ways you can buy it using real money. You can sell things and let people pay you with bitcoins or they can be created using a computer. How do I I’d like to get old Dusty here involved in the right go on Dusty get out there and win me some bitcoins baby like how do you actually participate in that side of it the side of it that seems like the most sort of techno mysterio so part of it where a computer’s solving a puzzle on its own to win you some bitcoins get out their son and do Daddy proud people sell powerful computers just to get bitcoins. This is called mining Ah.

• bitcoin
• bitcoins
• cryptocurrency
• crypto
• currencies

• bitcoin invented 2008
• people like satoshi nakamoto bitcoin
• bitcoin revolutionary tool deeply
• understand special bitcoin little children
• children bitcoin asking bitcoin video

But The Sums Are Becoming More And

more difficult to stop too many bitcoins being generated. I see that so that’s the point of management who’s setting the sums if. You started mining now it could be years before you’ve got a single bitcoin. You could end up spending more money on electricity for your computer than the bitcoin would be worth okay so mining it is not the way to go unless you are some sort of tech genius. Because of course, much of this has come about because Elon Musk tweeted I’m into bitcoins, but that’s like he can influence the value of bitcoins by saying that so it’s sort of a self–fulfilling prophecy.

I Mean Thats Why Conventional Economics Has Always

been challenging. It’s not like meteorology. Although of course some people and it’s commonly argued that climate is impacted by anthropological activity. It’s not like you can go. I will you to rain tomorrow, but you can sort of like Gerald Ratner, the British jeweler famously found out if you say my jewelry is crap then.

Is Now Less Valuable Or You Can

if like a powerful billionaire Say they’re interested in a commodity or product. Then then energy rushes in that direction that’s why it can’t be considered a true science because it’s impacted by human consciousness in a way that’s sort of measurable and observable and I guess that’s the same with bitcoin if powerful people get interested in it. Bitcoin has many fans but the head of Jp Morgan, Jamie Dimon isn’t one it’s worse than tulip Bulbs. He said it won’t end well someone is going to get killed. You better provide some context for that Jamie because otherwise people are going to just assume that it’s because they’re at Jp Morgan.

Of Course, I Know That Whats Going On

with the tulip Bulbs is like you know there was a moment where Tulips were super valuable in the Netherlands and then. You know everyone decided they didn’t want trips no more the tulip bulb market fell on its ass but of course, you know Jp morgan not liking something for me is not a reason to get out of it. You know we at the conventional banks say that we dislike this biscoin for entirely objective reasons that don’t affect us as banks who have a lot to gain from their not being anything other than banks to control it. He’s referring of course to the 17th century tulip mania that caused some bulbs to cost more than houses before of course, the bubble burst let’s just try and get the basics understood in our head. So we can get to a level.

We Can Have Conversations Before We

can decide whether or not Bitcoin is a revolutionary tool or is it already too deeply embedded in the hands of the. powerful to be of any real value to us? I mean, I suppose that’s how power operates. I reckon many of you are excited about it. So hold on a minute. These new things come available where we could suddenly get a chance those of us that have been excluded from the hegemonic protected systems.

We Were All Very Excited By That

gamestop thing weren’t. We like oh look we can all the markets things can happen. I was excited by that I thought that was really interesting and intriguing, but how does it work with Bitcoin can bitcoin be a genuine tool for change or is it condemned to being controlled by the powerful. We see how technologically it can’t be centralized in a conventional way. But if a figure like Elon Musk can influence it, then that does mean it is subject to the conventional channels of power.

In At Least One Way That We Can

observe Bitcoin is often described as a cryptocurrency, a virtual currency or a digital currency. It’s a type of money that’s completely virtual, but that’s okay because most currency is now. I get that I get that when I’m just doing my contact list and still sometimes baffled by what on earth is going on. When I acquire a coffee in a mask and think my god what is my life now what is my life now? How am I a human being beep on your way Sir you know like. I recognize that it’s abstract and even if there is a physical piece of paper that is a promise and a promise is a faith-based concept anyway so I can handle that bit it’s an online version of cash you can use it to buy products and services, but not many.

Except Bitcoin And Some Countries Have

banned it all together. Oh now I’m interested it’s bad it’s edgy it’s dangerous like Me babe. However, some companies are beginning to buy into its growing influence, less like Me Babe in October.

Summary

Bitcoin is a new decentralized form of currency that could radically alter the world economic system . Bitcoin was invented in 2008 by an anonymous inventor who calls themselves Satoshi Nakamoto . Bitcoin is digital money that is bought and sold online . It’s not based on another asset like gold and it doesn’t go through traditional financial institutions like banks . Bitcoin could be controlled by powerful people or is it a genuinely revolutionary form of . currency? Let’s learn about Bitcoin together right now and then potentially buy some Bitcoin . Bitcoin you keep asking me about Bitcoin Do a video on Bitcoin Do you know about Bitcoins and crypto currencies well the truth is I don’t but I didn’t know much about the great reset until you explain it to me.& Let’s begin a series on Bitcoin. I’ve just been It’s just been explained to me that the learning tool that I used to understand. That list of stuff was children I’ve only just been told to understand it.& This was a special bitcoin for little children….. Click here to read more and watch the full video