The math behind cryptocurrencies.
Help fund future projects: https://www.patreon.com/3blue1brown
An equally valuable form of support is to simply share some of the videos.
Special thanks to these supporters: http://3b1b.co/btc-thanks
This video was also funded with help from Protocol Labs: https://protocol.ai/join/
Some people have asked if this channel accepts contributions in cryptocurrency form. As a matter of fact, it does:
http://3b1b.co/crypto
ENS: 3b1b.eth
2^256 video: https://youtu.be/S9JGmA5_unY
Music by Vincent Rubinetti: https://soundcloud.com/vincerubinetti/heartbeat
Here are a few other resources I’d recommend:
Original Bitcoin paper: https://bitcoin.org/bitcoin.pdf
Block explorer: https://blockexplorer.com/
Blog post by Michael Nielsen: https://goo.gl/BW1RV3
(This is particularly good for understanding the details of what transactions look like, which is something this video did not cover)
Video by CuriousInventor: https://youtu.be/Lx9zgZCMqXE
Video by Anders Brownworth: https://youtu.be/_160oMzblY8
Ethereum white paper: https://goo.gl/XXZddT
Timestamps:
0:00 – Introduction
2:25 – Ledgers and digital signatures
7:21 – The ledger is the currency
10:06 – Decentralization
12:26 – Cryptographic hash functions
14:38 – Proof of work and blockchains
19:42 – Double spending
21:41 – Block times, halvenings, and transaction fees
24:40 – Thanks
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If you want to check it out, I feel compelled to warn you that it’s not the most well-documented tool, and has many other quirks you might expect in a library someone wrote with only their own use in mind.
Music by Vincent Rubinetti.
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Video Rating: / 5
If you see comments here about investing or brokers, they are scams. Videos about cryptocurrencies, evidently including ones that are just about the underlying technology/math, are hotbeds for attracting nefarious actors preying on the impressionable.
Also, hi! If you’re new to this channel, most of it is about visualizing math. I get it, you probably landed here searching for how BTC works, not to spend your afternoon getting pulled into learning about, say, prime numbers or problem-solving, but if you have a moment take a look at the rest of the channel, you may enjoy what you find.
A laudable explanation of bitcoin, even if those who hawk its virtues as a remedy for our crumbling economies are exactly the kind of people (i.e. the ruling elites and capitalists) who are the cause of such problems.
2:30 ledger 帳本 Digital signatures 電子簽名
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0.001 BTC transaction fee looks funny in 2022, as well as 50 BTC reward for one block
Bitcoin was founded in 2009 by a pseudonymous person or group called Satoshi Nakamoto.
Bitcoin has no central authority that controls it.
The maximum amount of Bitcoin is 21 million.
The subdivided unit of Bitcoin is called Satoshi.
Bitcoin is legal in most countries.
Bitcoin can be exchanged for other currencies and products.
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If I accidentally add my block to a shorter chain, are all my computations in vain?
☝️Helps ☝️with ☝️successful ☝️Bitcoin
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i'm glad I got into crypto when I did because it’s been a turning point for me financially,been my best decision so far
why so hard
Too good
20:05 so what keeps Alice from making a fraudulent transaction, and broadcasting it to everyone not just Bob? If she broadcasts it to everyone, she doesn't have to mine.
So to clarify, there are two measures of security:
1. The digital signatures using secret / public keys: This authenticates transactions and doesn't allow people to change transactions after it has been signed, because the message and secret key make the signature. I.e. it lets me know that no one is stealing money from me.
2. The hash for the block of transactions: After making sure each transaction is valid with a signature, we want everyone else in the world to know the valid transaction happens. I.e. that the money is transferred and people know person A now has 10 LD from person B.
Together these two provide the following: Makes sure every transaction on the block is true (1). Makes sure everyone knows all the true transactions (2).
If (1) fails, then you can make fake transactions. If (2) fails, then even if you have real transactions no one will believe you.
Is this line of thinking correct?
THE BEST EXPLANATION!
A melhor explicação sobre BTC que eu ja vi.
You should make an updated video about PROOF OF STAKE, and other Cryptocurrencies