Bitcoin Explained in the Bitcoin Basics Workshop CBP Prep [Free Workshop Extras - See Description]

Bitcoin isn't too hard to learn, if you've got a great teacher. That's why you want to learn from the best, Andreas! In this video you'll learn the basics of bitcoin explained in clear terms: The history of money, bitcoin, and how the price of bitcoin is derived; Bitcoin Basics, including addresses and keys, transactions, the blockchain, bitcoin as a unit (e.g. millibit, satoshi), ways to earn, buy, sell, and store bitcoin, blockchain explorers and Unspent Transaction Outputs (UTXO); Bitcoin commerce, including how to accept bitcoin for products and services.
Learn about bitcoin and prepare for the CBP (Certified Bitcoin Professional) Exam in this 90 minute workshop. You'll learn how the price of bitcoin is derived, how to buy and earn bitcoin, and how to price bitcoin in your business. Andreas is one of the world's most sought after teachers because he makes complex subjects easy to understand. Watch this video to learn the basic concepts of Bitcoin and open blockchain technology, with an emphasis on real-world examples and built around stories of users interactions with Bitcoin.
Extras: You can find extras like quizzes, supplemental learning materials, and earn a certificate of completion if you sign up for the free Introduction to Bitcoin and Open Blockchains Workshop on Andreas' website at aantonop.com/workshops.
Chapters
0:00 Introduction
3:16 Course content
4:10 History of bitcoin
13:51 User stories
15:44 Alice buys bitcoin from a Bitcoin ATM
16:29 How do people acquire bitcoin?
23:35 Bitcoin ATM Vending Machine
24:45 Bitcoin's "Price"
29:59 Price discovery and markets
34:45 Bitcoin ATM calculates the exchange rate
35:56 Bitcoin, private key and bitcoin address
54:38 Bitcoin units
55:36 Converting units
58:10 Alice buys a book from Bob’s online store
1:06:23 Alice's wallet constructs a transaction
1:09:29 Transaction basics
1:10:32 Transactions and change
1:12:42 Alice's transaction on the blockchain
1:13:43 Transactions and fees
1:16:15 Transaction fees
1:37:16 Bob pays Catalina’s invoice for web development work
1:38:59 Aggregating transaction
1:42:36 History of the Bitcoin Blockchain
1:43:58 Chained blocks
1:45:38 Bitcoin money supply
1:47:03 Halving
1:48:46 Mining incentives
This presentation was delivered on Wednesday, August 28th 2019 at the BTC2019 Conference in Denver organized by the Crypto Currency Certification Consortium (C4)
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About aantonop: Andreas is a best selling author, he's written technical books Mastering Bitcoin, Mastering Ethereum, Mastering the Lightning Network (2021). He's also published books on why bitcoin matters in his best-selling series, The Internet of Money. Andreas isn't promoting a company or an organization; he's paid by the community (people who support this work on Patreon and KZbin) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at aantonop.com
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Audible: www.audible.com/author/Andrea...
E-books & Merch: aantonop.io/shop
Patreon: / aantonop
Website: aantonop.com
Workshops: aantonop.com/workshops
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Instagram: / amantonop
LinkedIn: / aantonop
Twitter: / aantonop
Music: "Unbounded" by Orfan ( / grassfedbitcoin )
Thanks for watching!

[@aantonop]

If you liked this video, give it a 👍 and subscribe to the channel! Let me know what you'd still like to learn in the comments below. And if you'd like to test your knowledge with quizzes and exercises, and earn a certificate of completion, then sign up for the FREE Intro workshop on my website at aantonop.io/takeaworkshop. Thanks for watching!

[@williamashbysr.7320]

&[⁸

[@gregroberti]

@@mickeydrago9401 exactly

[@AGUS000]

Hi.! Please, Could you complete the translation to spanish?

[@AGUS000]

Para los que hablan español Van a ver que a partir del minuto 43 los subtitulos se ponen en inglés. Para seguir leyéndolos en español solo tienen que ir a configuración --> subtitulos -> traducción automática --> español Y listo.

[@nonamebrand5095]

i havr a question. Since Bitcoin is onky used for transactions with semdin bitcoin units key from wallet A to another wallet address. i don't understand how eaxh transaction whether 1 trillion value or 1 dollar makes a difference. and qhen reffering to blocks. couldent each block be done when just under the maximum capacity. so why woukd anyonw reject a block? is it because the highwat memory taking block is not the highest paying block. and is each miners able to cherry pick each transaction for that block and then leave the rest for dead. i thought its automatically has to solved per block. each trans needs to be solved. in the order of wach trans in each block recorded on tge timestamp in the blockchain? You know what maybe we need users of Bitcoin to have power to. Maybe we as users will decide which faithful pools we would prefer to do pur accounting. what? if they can pick by a number. i should pick by a number to. its just data i dont know thwm peraonally. but realistically they could just make it impossible to cherry pick trand and blocks and the problem will be far morr decentralized far more Omar Ghadaffi Styled Maybe we dont see it yet. years from now pitchfork mobs will burn down the big miner locations known to public.

[@KimboTheJingo]

I regret first buying bitcoin in 2017 and only learning of Andreas for the first time in 2023.

[@anotherslave]

Blows my mind he only has 239k subs on YT. Andreas is the best there is at explaining this stuff.

[@DeepakBTC]

i have not seen such a great explainer ever. This guy has so much impact on many peoples crypto journey. i am one fo them. THANK YOU SO MUCH for your contribution to the crypto

[@aantonop]

Wow, thank you!

[@switch2crypto]

@@aantonop Pretty Sure Your Satoshi Now After Watching This

[@markvincentsinclair1614]

@williamsscott09 on Ͳҽӏҽցɾąʍ

[@ikust007]

@@aantonop you are a Light in the Darkness. Cheers to you.

[@ozonehephzibah6949]

@@mickeydrago9401 bitcoin, NOT Bitcoin.

[@bnke0x0]

Thank you, Andreas, for your incredible work in simplifying the complex world of Bitcoin. Your explanations are a beacon of clarity in the cryptocurrency space, making it accessible to all. Keep up the fantastic work!

[@franky12]

This is the best lecture on Bitcoin I have ever seen. Andreas is a brilliant speaker and teacher. Thanks for making this lecture publicly available.

[@GrumpyOldGuy777]

'Thumbs up' two hrs before it even starts. Andreas never disappoints

[@mehmetasma8719]

Just imagine Satoshi sitting among the guests and smiling watching the presentation.

[@joshscafe8381]

Satoshi gave the presentation.

[@mehmetasma8719]

@@joshscafe8381Intriguing possibility.

[@annitatriantafyllopoulou2734]

Wish Hal Finney was alive! All members of the core team are Satoshi Nakamoto🚀🦉

[@RicardoJuanito]

Satoshi was on stage himself...

[@jlbdgb]

I think satoshi's was murdered by the CIA and now USA holds the keys

[@sorush5462008]

Andreas is the best educator in the whole bitcoin space. superb as always.

[@sorush5462008]

@@mickeydrago9401 ok mate

[@TristanLamonica]

Andreas has provided the community with the highest quality content - thank you so much Andreas for everything!

[@aantonop]

Glad you enjoy it!

[@CenterLifeBalance]

This is brilliant. Well constructed and profound. Thank you Andreas.

[@DisperseControl]

Amazingly insightful and concise. Thank you for the 101. Sharing it widely

[@otorishingen8600]

What an amazing teacher 👏 Definitely will get his book(s) I'm blown away by the clarity Thank you 🙏

[@alecpetsikas4985]

I know absolutely zero about technology. I just like freedom and fairness, which brought me to Bitcoin obviously. But as a man who knows nothing about the tech stuff, I still get goosebumps from hearing him speak

[@entrey_ua]

All basic questions covered in a two hours. Brilliant.

[@GeoffreyProfessional]

Found Andreas on London Real. Now, there is simply a huge amount of knowledge on Crypto to be learnt from him. Thanks so much for all these videos. Much love from India ❤️

[@madprofessor1683]

Saw this guy in Denver at Arapahoe Library for free. This guy is awesome!

[@alaaabbassi71]

Amazing how Andreas can explain it in a simple way. Brilliant as always

[@aantonop]

Glad you think so!

[@Hellraizorr]

This guy possesses authenticity as well as the right verbal moves. A discussion that is probably worth your time.

[@EliasPortillo-ej3jh]

Andreas you are really the best in explaining the Bitcoin stuff !!! Thank you so much for sharing !!!

[@Pindi44]

Andreas, I try and listen to whatever you have to say on the internet, you are the greatest evangelist for cryptos. Thanks for sharing your knowledge.

[@jeffbtc]

You were one of the first people I came across after learning about Bitcoin. I can't tell you how much I appreciate everything I've learned from your talks and videos. Thanks for all your work in the space.

[@Anicet0rasta]

Thanks Andreas for all you efforts of educate people in this new system

[@markvincentsinclair1614]

@williamsscott09 on Ͳҽӏҽցɾąʍ

[@IngoBing]

Andreas is the one! Thankyou once again for your work 🙏

[@billtanno8960]

AA my man... you are a LEGEND! Thank you from the bottom of my bitcoin heart!

[@MrNesta69]

Ευχαριστώ πάρα πολύ!!! Excellent presentation and extremely usefull Andreas ! Mpravooo . Huge fan

[@Kahoobb]

Thanks to Andreas, I am now a CBP. :)

[@cloudy2249]

Andreas, could I just say that I love you. Keep up the good work! RESPECT

[@marioderioverde4470]

Thank you very much,great lecture.

[@BudKwaark]

everyone should see that video, what a wonderfull course !!

[@blameyone]

the best crypto education on the web

[@spirones]

You are grate. When you show "miner" i cannt stop smiling

[@bkkavila8029]

Thanks Andreas you are the embodiment of selflessness

[@jonathanfulp98]

Thank you for this! I am three weeks into learning about crypto for my future and this is giving me great info.

[@aantonop]

Welcome!

[@jonathanfulp98]

I have so much to learn when it comes to this stuff.

[@davidegullotto9080]

That was absolutely fantastic! What an amazing tutorial! I’m going to watch it with my kids as it’s the first time I’ve seen it explained so well and I want them to also understand it!

[@aantonop]

Glad it was helpful!

[@markvincentsinclair1614]

@williamsscott09 on Ͳҽӏҽցɾąʍ

[@clareaylward5897]

Thanks for the great free content so helpful to us pre-coiners making the evolutionary leap:)

[@evelyndeguzman467]

great speaker i admire .like me no idea about bitcoin when i read some about it want to learn more about this thank you very much sir for sharing knowledge on this.ill keep watching til i will understnd. God bless.

[@axrec]

informative and absolutely entertaining. Love it!

[@aantonop]

Awesome, thank you!

[@SuperIndijana]

Once again: just great!

[@markvincentsinclair1614]

@williamsscott09 on Ͳҽӏҽցɾąʍ

[@electroplaque]

This was an awesome talk! You've become really great at what you do. I already know all of this, but watched the whole thing just to enjoy and learn from your presentation. All the best.

[@richierichBTC]

please more videos like this! Awesome work.

[@aantonop]

More to come!

[@vinvinvino3176]

The legend....Andreas!

[@youfelixx]

I love this

[@arslanjapan]

I am into Crypto for the last 4 years and there were things I didn't know. Awesome.

[@nocollarcrypto8851]

I ❤️ this man.

[@GolfSidekick]

So cool they got Louis Litt to deliver this presentation

[@juhanj7909]

hahaha whaddaplaya what a coincidence to find you here. plant a feather and grow a btc!

[@DonTravolar]

Louis Litt from ‘Suits’😂😂😂😂

[@ememanduquincy8457]

Such detailed information about Bitcoin.

[@esadozmetin8841]

Great work as usual. Thank you.

[@boulevarda.aladetoyinbo4773]

Cicero Gift of the Gab!

[@tonysako]

This is brilliant thank you

[@aantonop]

Glad you enjoyed it

[@markvincentsinclair1614]

@williamsscott09 on Ͳҽӏҽցɾąʍ

[@3hijos5nietos]

Thank you, now I understand it more clearly, it's such a powerful tool....Greetings from Chile.

[@cxbmtx7120]

i sould have listened to your lectures 10 years ago i would have been multi millionare

[@nicknanas623]

Andreas and Saylor very well spoken.

[@cryptonanda]

This guy simple rocks it. Way to go for learning

[@frankjoy2455]

you killing it andreas

[@sugurlu1]

"Each output can only be spent in its entirety." Wow, I did not know bitcoin was working this way. Thanks alot Andreas.

[@aantonop]

Glad it was helpful!

[@nkengchrist]

Printed off the scripts. Going to study it on my Netflix time.

[@cryptalksapp9121]

wow, great video

[@gregoriopeduzzi]

Thank you sensei, you make this so easy to understand! And thank you for all you do for the crypto community!

[@boulevarda.aladetoyinbo4773]

Lol. "Bitcoin is a disorganization"...i love that...

[@walker_sean]

常看常新👍

[@rv953]

This man have great sense of humour.

[@cleverboost9049]

amazing!!!!

[@aantonop]

Thank you! Cheers!

[@Peter_Parker69]

andreas is bitcoin, got it

[@PURPLE_SHADE_SMOOTHIE]

Peter Parker Andreas IS Satoshi LOL

[@Peter_Parker69]

bitcoin don't exist, only satoshi exist, so andreas don't exist. ok got it

[@anewcreature7]

@@Peter_Parker69 I don’t think you got it.

[@Tobyee]

*NICE* 👍

[@bhalithan]

thanks.

[@JK-Visions]

lol i always hear ppl talk about bitcoins:p Sooo i learned a lot today haha.

[@armandopiedra4913]

Amazing 🏆I learn so much always, u help so much

[@ReadMr]

Andreas utterly destroyed Craig S. Wright even without mentioning his name once... simply brilliant.

[@nh4124]

sehr gut erklärt

[@lucysluckyday]

It's often worth mentioning that the mem pools are often very different for each node in the network because they rely on volatile memory to locally hold that pool. If you power your node down the mem pool is lost, if you bring up a fresh running node it only receives the new transactions into the mem pool that are being broadcast (gossip) from that moment in time onward. Theoretically transactions could be lost from the network, but in practice there are so many nodes that it can't really happen in reality (someone's mem pool still holds a copy of the transaction somewhere.

[@charlosrossi]

this was excellent i will share it far and wide thanks andreas

[@divonkarma]

At 55.42 the last line (slide 23) is off by a decimal point for 1 satoshi in mbit and bit.

[@thorsaldos6024]

Alright so a certification on this niche . What does it do or get you a job or start a biz ? Thank you for ALL YOUR VIDEOS. !

[@eltimuro]

I don't like to like content before actually hearing it, with andreas however it's hard no to, since i don't know a single piece of bad content from him. @Andreas you have our well deserved gratitude, hope this goes on a long time :)

[@Skimatik_DnB]

Well that cleared up a couple of questions I had 🙌 thank you for your time and effort .... ✌️💚☯️

[@aantonop]

Glad to help

[@Skimatik_DnB]

@@aantonop honestly your knowledge is invaluable , I’m still learning but I’m invested 🙌 only small time but I see the need to support this so we can craft new ways 🙌 ✌️💚☯️🔱

[@jayofman]

Amazing thank you so much for all you do. Now I need to find the time to watch another 2 times to lock it all in.

[@AS-zw4lk]

Wonderful lecture. Note: max supply of Satoshis is (2100 trillion) 2.1 quadrillion - not 21 quadrillion as mentioned.

[@robbatayaki5505]

Yes, I was just wondering how he could make such a mistake

[@RodolfoAPozo]

Just in case, at min 52.13 when Andreas said "Go to the ATM and show it the bitcoin address" he is referring to the BTC address from the shop

[@luketrader9120]

Great intro. And yes, Andreas, you are all of that and my hero too!!😀

[@francoissuprin4345]

loud and clear

[@ikust007]

Such a brilliant mind !

[@ShaolinMaster2004]

wow!

[@nonamebrand5095]

My favourite thing I learnt here was the kid allpwance joke. lmao I love this guy because you think a smirky joke is.coming and it doesnt. when you dont it does lol he keeps the same tone the whole time. can make boring long explanations lively for many types of audiences

[@angelrosethediva]

Right at this moment the question for me is, How do you keep count of our satoshi? It seems so hard to count, add and subtract what you've spent. It seems you'd be constantly converting back to dollar or what ever currency you are use to. I am over whelmed. Hope it finally becomes clear to me.

[@contentmarketinginstitute7666]

*What factors influence the value of Bitcoin*

[@americandreamer828]

Bitcoin’s price movements are often explained away as more buyers than sellers, or vice versa. In practice, this isn’t really true since it always takes two parties to trade (if someone bought Bitcoin, someone else sold it to him). What really drives the price up or down is the side that’s more aggressive in “crossing the spread.” The spread is simply the difference between the best bid and best ask price.

[@veniminsurance3260]

As an expert trader can he be of help to me? I need help managing my trades

[@keistor4105]

Thanks for sharing this information, I’ve been looking for a way to get help with trades. I’m grateful

[@rosariadesantos5116]

The Bitcoin market is highly volatile and the underlying investment should be considered a high risk investment. However, investors can avoid these risks with a bit of agility and common sense. The first approach is seeking help from professionals that has been there before you.

[@Kahoobb]

@@americandreamer828 but if you mine bitcoin and hodl, then you are not selling to somebody.

[@FlamingBasketballClub]

Looking forward to this workshop.

[@azubyte]

Thank you for getting into the weeds a bit, for those of us new to this system, it is a bit confusing with the wallet ledgers and the payment groups-very informative. (This whole time, i thought the wallets held separate digital satoshi that were added, mixed together and separable like in a real coin-based wallet.) I enjoyed your sense of humor while presenting as well. Can you incorporate some videos of actual transactions taking place in your presentations? I think that would be awesome too.

[@barbaraherda9212]

31:05 market price discovery of bitcoin is using the central bank cartel’s manipulated fiat currency system - what’s the impact of that? ie. what happens when all all these currencies DO go to zero because of major loss of confidence, then what’s bitcoins measuring stick?

[@andreamichellekennedy1170]

Thank you, I have the same question! Would love to see a reply...

[@petrolo72]

Then we use the Chinese yuan , and if that is gone to the toilet as well, we get thousands of bananas/cows/chickens etc. per bitcoin

[@MawaMaverick]

Wow. I cannot begin to imagine the amount of work it took to put those slides together. All i know is that it took you at least 9 years. Thank you for this.

[@spenser6353]

Nakamoto was/is a genius

[@Vggfdd-kj9kj]

Bitcoin, a global currency. You can go anywhere in the world and pay with bitcoin for anything.

[@Pest87]

Im new to bitcoin your videos are very helpful

[@aantonop]

Glad you like them!

[@bkkavila8029]

Is there a follow up or continuation to this video?

[@aantonop]

There's a free workshop with the same general content but it has quizzes and supplemental materials on my website: aantonop.com/workshops

[@Gamezrodolfo77]

Jesus! Explained so a Neanderthal, like myself, can understand. Thank you ❤

[@billpickford1988]

❤

[@WhiteRussianrock]

Since the block chain is immutable, what happens with returns? What happens when someone returns the book they bought from Bob, blockchain-wise?

[@dusanmatuska-bitcoin]

47:17 - in Base58 the letter "l" (lowercase el) and "I" (uppercase aj) are mistaken and therefore omitted not the number 1 as you mentioned. Anyway wonderful explanation again Andreas. You are a great inspiration for me and my education courses in Slovakia within Parallel Polis Bratislava.

[@dimvogaz7627]

Hi Andreas, please update the translation to "automatic" so we can correct and edit it in Greek easier. This is a must see tutorial for every beginner and not only! I have successfully edited in Greek your video " explain bitcoin to your mother?" Thank you.

[@entrey_ua]

13:11 In the blockchain space a lot of people make the statement, "Well, Bitcoin is interesting, but..." "But" means "i haven't understood it yet". Bitcoin is interesting, but i'm more interested in a technology behind Bitcoin - blockchains. These newfangled automobiles are interesting, but I'm more interested in the revolutionary technology behind automobiles - pneumatic inflatable tires. If we could combine pneumatic inflatable tires with the steady traditional propulsion mechanism of horses, we could really do something interesting.

[@-Fluxor]

Can't wait till we have flying horse cars. The dream and new technologies.

[@markvincentsinclair1614]

@williamsscott09 on Ͳҽӏҽցɾąʍ

[@DonTravolar]

How do I join one of his workshops?

[@lancemiller1725]

I've did well enough on wall street in the 80s on wall that I've not worked a 9 to 5 since.. but I know nothing about Bitcoin? I'm interested in learning the game... Can anyone tell me if Bitcoin market principles are the same as the stock market?

[@petrolo72]

If you are proficient with TA, you’ll be right at home reading charts if you are looking to trade. Fundamentals are intuitive, you just have to spend the time every day getting caught up to speed.

[@maroshka851]

you said 21 Quadrillion Satoshis, did you mean 2.1 Quadrillion? super great work btw, thank you very much

[@maroshka851]

@@mickeydrago9401 yes, i realise that. but he said there's 21 quadrillion, i think he should've said 2.1 instead (total number of Satoshis that can ever exist)