Bitcoin how it works youtube videos

Crypto YouTuber BitBoy Crypto was recently banned from the platform until his Twitter community managed to save the channel. Discover all you need to know about this crypto content creator including where to find him, why he was banned and more! Time going by only sucks if you stop doing what you love with people you love HotwireHotelGoals TakisTransformation. Ben Armstrong, otherwise known as BitBoy, is a successful YouTuber who specialises in providing crypto knowledge to his subscribers. The creator encourages his followers to master a subject before finding a way to make money out of it instead of jumping straight in without the knowledge. BitBoy Crypto currently has 1.

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WATCH RELATED VIDEO: How Bitcoin Works Under the Hood

Why was BitBoy Crypto banned from YouTube? Twitter community save the channel

Bitcoin explained: all you need to know about the crypto frenzy. The Sydney-based tech consultant says it's mainly because of her painful experiences growing up in Brazil in the s, as it transitioned from military dictatorship to democracy.

Hyperinflation was in full swing as food, electronics and all types of consumer goods shot up more than 2, per cent each year. Shopkeepers were lifting their prices every week or even several times a week.

For that reason, Ms Belotti regards bitcoin as "digital gold" — or an asset to protect her from the debilitating experience of watching her hard-earned money lose all its value almost instantly. Although Ms Belotti acknowledged this was a "very high risk strategy", she has no regrets because her overall investment has tripled in value since buying her first bitcoin years ago.

Despite its extreme price swings, she says bitcoin is a lot more stable compared to the Brazilian currency she used to be paid in. When you you look at a bitcoin price graph, stability is probably not the first thing that springs to mind. Bitcoin was created in , amid the global financial crisis, by mysterious coder under the alias "Satoshi Nakamoto" — whose identity remains unknown to this day.

Back then, it was worth practically zero. But in the last five years, its value has surged more than 5, per cent. Its price has been on a rollercoaster ride, with several booms and crashes along the way — and many argue that it's a massive bubble. There are now more than 5, cryptocurrencies in the world — including ethereum, XRP, litecoin and "joke" currencies like dogecoin.

Most cryptos in that long list are considered highly speculative, and regulators have warned people not to put in more than they can afford to lose. It certainly helped that trillions of dollars worth of COVID stimulus was being pumped into the world economy — which boosted the price of cryptocurrencies, shares, property and even second-hand cars.

There was also the idea that bitcoin was increasingly becoming mainstream after payments giant PayPal announced, in October, that it would let users buy and sell cryptocurrency on its platform. In early June, El Salvador became the first country to take bitcoin as legal tender , which has led to predictions that other nations particularly with less stable economies may follow suit.

Cryptocurrency analysts say a major force behind the bitcoin rally was electric carmaker Tesla — particularly its billionaire boss Elon Musk. But three months later, the world's second-richest man had a change of heart.

Mr Musk tweeted, in mid-May, that his company had " suspended vehicle purchases using bitcoin " due to environmental concerns specifically, its carbon footprint — which sparked rumours that Tesla had sold its bitcoin holdings. The process of creating new bitcoin mining uses That's more energy than what countries like the Philippines and Finland consume each year. It also didn't help that, shortly after, China banned its banks and financial institutions from providing services related to cyrpto transactions.

This led to a massive correction as the volatile cryptocurrency lost half its value in just over a month. Mr Musk's latest backflip happened on June 14, when he tweeted that Tesla would take bitcoin as payment again if more miners used clean energy.

He also confirmed that Tesla had sold about 10 per cent of its bitcoin holdings. The idea behind cryptocurrencies was to create an alternative payment method which cuts out the middleman. In conventional finance, banks are the gatekeepers keeping track of when money leaves your account and reaches the other. So buyers and sellers are putting their trust in a single authority.

For those who value privacy — or have issues trusting the government, banks or other authorities — bitcoin is appealing because of its de-centralised system.

Basically, that means instead of one bank verifying the transfer, thousands of computers across the world are doing that same job. All these computers are known as "miners", who have access to the blockchain — which is a ledger or public record which lists all the transactions ever made using the cryptocurrency. These miners are racing against each other to verify the purchase by solving a complex mathematical problem. The first of these miners to solve it gets rewarded with newly-minted cryptocurrencies like bitcoin.

At least half of this huge computer network needs to verify your transaction before it gets approved. Much of the world's bitcoin mining happens in China One advantage of bitcoin transactions is that they're considered relatively anonymous — which has made it popular with organised crime.

More recently, hackers targeted Colonial Pipeline which supplies nearly half of the US east coast's fuel supply and meat processing giant JBS Foods with ransomware. It's a deliberately complex, inefficient process which consumes more power every year.

In the case of bitcoin, its blockchain is programmed in such a way that the problems get harder to solve every two weeks, while the reward for mining "halves" every four years. On the plus side, that makes it practically impossible to hack. It would be insanely expensive to interfere with all those thousands of computers on the blockchain — worldwide, at the same time. Many people don't have their private key anymore, or the secret code that gives them access to their digital wallet.

There are stories about people who wrote it down on a piece of paper and misplaced it, while others have thrown out the hard drive containing their private key — and there's no way to recover it.

Meanwhile, not many businesses take bitcoin or cryptocurrency as payment given its extreme volatility. Transaction fees and speed are other issues raised by bitcoin sceptics. While bitcoin can only handle seven transactions per second, traditional systems like Visa can process thousands. So instead of spending their bitcoin, most people are buying it to hold onto it like gold hence it is often described as "digital gold".

Some see it as a safe haven asset to protect their wealth in uncertain times. But unlike gold, it's not such a reliable store of value given its price rises and falls by thousands of dollars each day. That's particularly if record low interest rates persist for years — driving more people to take riskier bets to find a return whether it be in stocks, property or less well-known cryptocurrencies.

We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work. Elon Musk's Tesla U-turn prompted a bitcoin plunge. Is it the beginning of the end for crypto? The meteoric rise in Bitcoin might even have Einstein stumped. Bitcoin and tulips have a lot in common. Will their investors share the same fate?

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70 Cryptocurrency Youtube Channels

This op-ed was originally published by The New York Times. Bitcoin, the original cryptocurrency, has been on a wild ride since its creation in Then it fell to half that value in just a few weeks. Are cryptocurrencies the wave of the future and should you be using and investing in them? Bitcoin was created by a person or group that remains unidentified to this day as a way to conduct transactions without the intervention of a trusted third party, such as a central bank or financial institution. Its emergence amid the global financial crisis, which shook trust in banks and even governments, was perfectly timed.

Cryptocurrency is digital money, which means it can be stored on your computer or phone and sent The private key functions like your email password.

Blockchain Introduction Video

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. So what exactly is Web3, and why is everyone in Silicon Valley obsessed with it? Web3 is a world-changing opportunity to make a better version of the internet and wrest it away from the behemoths who control it today. Web3 will make some people a lot of money. But many other people will lose their shirts on it. You can explain why Web3 is a fundamental remaking of the internet, and some people will take you very seriously. I see and hear Web3 pitches, debates, and dunks daily. Maybe the fact that the stock market in general — and the tech sector specifically — has been tumbling in recent weeks will cool interest in this stuff eventually.

Bitcoin Scammers Are Using This App To Fleece People

bitcoin how it works youtube videos

With YouTube poised to penalize a broad array of videos, content creators can use these five steps to monetize their work with bitcoin. What do you do when YouTube arbitrarily decides to demonetize your content and suddenly your creative work no longer appears in searches, newsfeeds or subscription boxes? Beginning in January , these marked videos will have their data collection blocked, leading to lowered ad revenue, and features like commenting, likes and end screens with calls to action for viewers will be disabled. Also, many YouTubers fear that new, marked uploads will not get featured by the platform, making them nearly impossible to discover for newcomers. All of this means that creators such as video game reviewer Arlo and toy collector AustrianLegoFan , whose output is friendly to audiences of all ages, find themselves in a situation where the future of their craft is uncertain.

Bitcoin explained and made simple, is a YouTube video uploaded by Guardian Animations.

Bitcoin and Cryptocurrency Technologies

Cryptocurrency criminals are lurking on YouTube, a recent lawsuit filed by Apple co-founder Steve Wozniak claims. Most of the schemes involve scams that purport to be giving bitcoins away but in fact are designed to steal the virtual money, along with other types of cryptocurrency, from users of the popular streaming video site. Wozniak's complaint alleges YouTube has hosted videos that use footage of him without his permission to pull off the bitcoin scams. YouTube did not confirm how many of those scams included cryptocurrencies, but the spokesperson denied that bitcoin-related fraud is a major problem for the site. The number of videos YouTube has taken down that were tied to scams has dropped dramatically this year. A YouTube spokesperson attributed that decline to factors that include its evolving enforcement practices.

The brutal truth about Bitcoin

Bitcoin BTC-USD — the world's first digital currency — has been a hot topic in financial circles for at least the last few years, and arguably needs no introduction. Surveys suggest a majority of Americans have at least heard of it. Although outlets that accept cryptocurrency are still limited, Bitcoin is arguably the most easily exchangeable of all the cryptocurrencies. A small but growing number of service providers accept the virtual currency, which can be used to buy goods in video games, exchanged for U. Bitcoin was founded in by an unknown individual or group going by the name Satoshi Nakamoto. Though feverish speculation has surrounded Nakamoto's true identity — and some have claimed to be Nakamoto — it remains unconfirmed. Nakamoto began work on the code that would eventually serve as the backbone of Bitcoin in

The video-sharing platform says a crackdown on crypto-currency videos and channels was a mistake.

These 14- and 9-year-old siblings earn over $30,000 a month mining cryptocurrency

Crypto Callz, a free-to-join chatroom on Telegram that artificially inflates the price of cryptocurrencies, is not shy about advertising what it is. Quick, polished animations offer a seemingly easy paint-by-numbers path to crypto riches: Open an account on a New Zealand—based cryptocurrency exchange! Follow our Telegram channel for what coin to buy and purchase it as soon as possible! Their goal: to conjure speculative buying frenzies around new digital currencies and cash in on them.

Will Bitcoin be the world’s single currency in 10 years?

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. And by the time we all thought we sort of knew what the deal was, the founder of Twitter put an autographed tweet up for sale as an NFT. Right, sorry. A one-of-a-kind trading card, however, is non-fungible.

Sebastian, who lives in Cologne, Germany, later told BBC that while he had some apprehensions, the website he was directed to looked legitimate, and the potential returns were too good to turn down.

Homeless, Unemployed, and Surviving on Bitcoins

Cryptocurrencies have emerged as an asset class that provides you with a chance to invest and earn substantial returns. The asset class, has garnered massive popularity in recent years. To start trading, you will need to set up an account and you can invest as little as Rs to begin with. The age of majoritarianism has birthed a second wave of identity politics across India. As five states are ready to go to polls At no time do the politics of identity play out more spectacularly than during an Indian election. This poll season is no different

Three People Who Were Supposedly Bitcoin Founder Satoshi Nakamoto

One of the most enduring mysteries of bitcoin is the identity of its founder, Satoshi Nakamoto. Little is known about him. His last communication was in April , two years after the network came into existence. Nakamoto is important to the bitcoin ecosystem beyond his status as a founder.

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  1. Raymond

    Of course it's sad ... After all, for some it happens ...

  2. Tonye

    I'm sorry, but, in my opinion, they were wrong. We need to discuss.