Bitcoin for Beginners: Bitcoin Explained in Simple Terms

[@EmanuelMagda1]

Who is watching this video in 2024??? Love the man

[@muhammedlaminceesay7881]

i miss a lot over the course last 6 years

[@montew7385]

Imagine watching and understanding this when it was released 😮

[@ccgoulart]

Me. I keep buying satoshis every single month since January 2020, no matter what happens. Today´s BTC price reached all time high at U$ 98.368,00 @ Nov 21st 2024. Cristiano, from Brazil.

[@araaaaa9]

Me

[@wvr1]

I wasn't going to watch such a basic talk but as always Andreas had a little nugget of wisdom in there that blew my mind. The concept that institutions of trust are failing because they can't scale from industrial to information based society. Brilliant.

[@ITSMEEBOSSLADY]

Bill Ruby I have been re-watching many of his videos in order to share with some friends, but they know nothing about bitcoin except that I'm obsessed with it lol so I wanted to pick the right one. Anyway I am so grateful for the new takeaways each time, priceless :)

[@florinr.9130]

You're not alone. I talk bitcoin 24/7! My friends and family didn't listen and also said I'm obsessed. But after few months they came back seat me down and asked all the questions about it. Now they are Bitcoin zombies.

[@-fissst]

​@@florinr.9130 I'm not even a beginner for this kinda stuff. So what is there to talk about? And how to work on these not theoretical but practical? I would really like to understand but I guess I somehow miss the point.

[@JivanPal]

@@-fissst, not sure what you're asking - you're not a beginner, but you don't see the use case?

[@margaretontario4359]

For assistance you can connect her on What[sApp]

[@AeroPR]

Andreas is an open book. How he gives these amazing, logical and very clear talks out of his head is amazing.

[@HuuSeeMore]

Free game

[@jamesagall]

Main content starts at 4:53

[@shoemakerlevy1743]

thanks

[@c.a.k5486]

andreas is a genius. like him a lot. well educated, well spoken. he could earn a lot of money, but he prefers to enlight human kind about cyber-currency (bitcoin, etc.) thank you so much for this effort andreas.

[@jbergene]

maybe he is Satoshi nakamoto. I'd say its more probable then other theories :P

[@kduvallivecom]

C.A.

[@freilezjawa8328]

He is a multi millionaire by now. So he is earning money while helping the world haha

[@juddiehinton6293]

Con artist are usually excellent orators, they have to be to get your money.

[@juddiehinton6293]

A fool and his money is easily departed. So u admire so called rich geniuses. Now that is a laugh. Many cons are rich. He is a griffter

[@MattyCrypto]

53 seconds in they pan to the audience..... Notice how many people are there? For real! Wow do we have a bright future with BTC and Blockchain tech. Fantastic video, still holds up beautifully even watching in April of 2020.

[@jesboogie]

July 2023

[@fish_with_head_1]

2024

[@TM-cm4gb]

this is by far the best explanation of why we need bitcoin

[@jointherlworld]

Andreas is really obsessed with his work! An awesome individual to learn about Bitcoin and Cryptocurrencies from...

[@jabibgalt5551]

The fact this video is still under 400K views in 3 1/2 years is another proof that it's still early, entering the bitcoin market at around $10,000 is still cheap. Or so I think.

[@mayam6911]

Exactly. Preconceived notion formed by mainstream media seems hard to break

[@frostian]

Right now btc is $29,249. You were right 👍

[@slysite4real]

and now it is 60k

[@jimmyribeiro7785]

400k reached. AFTER 6 YEARS! Incredible

[@Chanel007-l5m]

@@jimmyribeiro7785Maybe. But what will our money be worth by then

[@martenbackman]

Thank you Andreas for this, very well explained, informative and educating, I will keep listening to your talks, so good.

[@janeramirez2851]

Every time i need a confidence boost in my bitcoin startup i come here! Never disappoint! Thanks!!

[@mywaycarpet]

I wish I can like this video more than once! 🙏🏼❤️ Thank you, Andreas Antonopoulos.

[@andreasantonopouls596]

My WhatsApp is [phone]

[@ITSMEEBOSSLADY]

I love the way he puts things together

[@MawaMaverick]

The true BTC Jesús right there. The ability to break down a seemingly complex concept in an uninterrupted train of speech indicates the grasp Antonopoulos has obtained around the block-chain ethos. Amazing.

[@mayam6911]

Andreas' simplicity is underrated, don't you think>?

[@MawaMaverick]

@@mayam6911 It is

[@bitcoinrat5656]

Another 'classic' from Andreas. Such an inspiration ! Ratty is smiling.

[@OneSingleCheezIt]

Such a simple, humble talk about something so profound. I’m late to learn this: when Andreas speaks, I listen carefully!

[@barbaraherda9212]

27:02 Past tense, institutions have failed - whether banks, media or government.

[@mayam6911]

Have failed and still failing......

[@rikschoonbeek]

Your passion for the topic radiates through your presentation, that is probably why you can bring your message in a such a fascinating way. And off course it helps that it is a fascinating topic. Thanks!

[@AntoineReekmans]

Thank you Andreas for your great video.Brilliant talk and very well explained

[@AB-sy4gx]

Amazing video, the way he simplifies it is just amazing. Have learned so much through your channel aantono

[@mohameds3354]

Thank you for the knowledge and spreading it selflessly!

[@mp.global003]

Thank you very much Andreas! σευχαριστούμε πολύ !

[@p.lyskawa2651]

Very happy that you're doing what you're doing. Spreading the word about Crypto in an intelligent manner that everyone can understand. I've been in Crypto for over 2yrs now and the easiest way I've found to explain to people what it is and what it's going to do for our planet, is to share your videos. Great job Andreas. The community applauds your hard work.

[@bhupatbhaivaghasiya7473]

Hello sir , If I download the Application... will wallet key automatically generate?? ( Without credintial or identity ) If. Yes , in what basis Wallet key is being generated?( Is it based on IP address)... if yes..then if I changed my mobile device with new one or lost .and download application again then instead of previous one.. Application would generate different Wallet address.. How can I retrieve previous one. that's what I understood from this session. if I understood wrong...Guide me through out this one. Thanks 🙂

[@DLTAustria]

he is the best crypto currency speaker on this planet ;) love it!

[@kelvinauthor4690]

It highly profitable

[@Victor-fi7po]

which app does he use?? saying that you dont have to identify if you want to transfer coins.??

[@LRPMQLRPC]

Great timeless content (2022 over here)

[@insidepoliticar5290]

Wow again and again! Thanks so much Andreas!

[@eggnogsaber]

I'd love to see a refresh on this course

[@duartepinto8259]

where can get bitcoins? best wallet? can u help??

[@valeriazangger4607]

Dear Bubble, I‘m referring to minute 19:27. So, my brain doesn‘t get it….because I always thought the reason why we all need to tell our identity to get a moneyaccount is to make it possible to search for a person later. I mean if nobody knows who got the money this is anarchy. How can we avoid criminality if there‘s no way follow the money? Or am I missing something? Thank you for the valuable content❤️

[@BitcoinClubMalta]

Great talk that anyone new to Bitcoin should watch.

[@mayam6911]

:)

[@cryptobritney9781]

Thank you so much for everything you do. Always great content.

[@justinaaqlong743]

Andreas, l have a copay on my device android, l written down the 12 words, but no number of private key?

[@nikolaospapadiotis7885]

Γεια σου ρε Αντρεα!! Super

[@swingtag1041]

Great video! I'd love to see a series of shorter videos explaining Bitcoin step by step. Many folks I've spoken to are hesitant to dive in due to the complexity. Short, focused videos could make it much more accessible.

[@michelzou2896]

I can't buy them in my country so far.Can you help me?

[@acklan3]

Question. If it is decentralized, and no one but yet everyone is in control, who receives the $1 transaction fee? I mean if there is no one, or an organization, controlling bitcoin who are we paying a fee to when a transaction is made?

[@After9Gaming]

acklan3 miners get the fees to keep the network going

[@pwnu2]

Yes, miners are paid the fee as an incentive to keep the network running

[@espiritofurtado723]

this is also a key question going in my mind too when i saw the video. if it is going to replace money then why do we have to pay money to purchase that. why the other person or anybody needs that money for.. very tricky

[@knpstrr]

Miners who are giving their CPU power to the network.

[@marussametocharaki8377]

I'M NOT SURE IF ARTIFICIAL INTELIGENCE COULD BE MORE EFFECTIVE OR MORE OBJECTIVE TO MANAGE BITCOIN!! BEAUTIFUL VIDEO!!

[@malaremurilo8046]

Have you got to know what Nvidia is doing now ? Ai n depin expect to be huge narratives in 2024

[@Ya-kj9bo]

natrium wallet how to withdraw money

[@hmong7819]

Do you have to have a smart phone to use bitcoin?

[@Adityasomani555]

I wish I was there in the audience 6 years ago

[@ma.soniaechague5270]

This is the future currency

[@andreusegura4350]

But it's not true that to open a bitcoin wallet you don't need to register or to provide an email address, or an ID proof, as he said during the conference that was not need it. You do need to provide every single detail of who you are in order to verify and validate your wallet.

[@Crypto_Gem09]

Will you do a video about the Eddie seal memecoin?

[@richbda6]

Thank you beautiful explanation. It is so great to have this resource to support my bitcoin business.

[@jsincoherency]

+aantonop great talk as always, but how come so many of your videos have comments disabled?

[@jcee8051]

You were mentioned today as an example of a good influencer to collaborate with in the Eddie Seal group

[@fakhrerazinikkhah3138]

Another great talk Andreas . I didn't know that Malaysians speak Arabic !

[@conduitmexique8249]

The largest number of Muslims is SE Asia. More practice Islam in Malaysia than Arab. Odd how they try to give the impression that Islam is a race. Maybe if we always saw Asians practicing Islam it would be more difficult to cultivate the current misconstruesion.

[@carlavv5302]

WHO DECIDED TO START WITH BTC AFTER WATCH THIS VIDEO??

[@bruceryan2756]

Carla V V Hello my friend, do you know you can earn good profits into your bitcoin wallet daily or weekly with bitcoin investment and mining?

[@TerryJulianLive]

This video has been incredibly helpful..

[@AGoogleUser-hf5zg]

Hi Andrew, Do you think Bitcoin will be able to do smart contracts embedded in a layer of the lighting network in the future?

[@cindycotton859]

H says it best. We are in a system where others control our money. This is about to change!

[@black_hawk1337]

People will come here in the future hoping they could go back in time to see this earlier.

[@Alan62651]

So how does bitcoin scale to the less affluent user. Current wallet to wallet transactions in bitcoin are upwards of $3.00USD. That is fine if I am transmitting $1000s, about the same as VISA if I am transmitting $100s, but a stiff penalty if I am transmitting $10s of dollars or less. This is not a healthy cost for small retail transactions. If we hope to see bitcoin used for everyday retail, the cost per transaction will need to scale down for small transfers.

[@gotalottosay-]

Love this analogy surrounding money

[@TheMoni700]

great explanation.

[@arminfisher4836]

What if I buy something using bitcoin and the seller won't send it to me? How I track it!?

[@SAL-fs1mr]

Set up an escrow.

[@Dadakibva]

Yes

[@JackieDoresett]

I'm clueless to Bitcoin but eager to learn.

[@walterfahey5340]

Always have the “nuggets” .... Great presentation Andreas 👌👍

[@MeermetMichiel]

BIG BANG CRYPTO HERO :>) A true (un)polished multifaceted passionate Crypto diamond! Modern Robin Hood of Economy. Well educated, interested, experienced Metaphorical connecting our financial past and future from with passion! From Technical, Biological, Medical, Economical, Anthropological and IT perspective. Very enriching for navigating (financial) life! Greeting from Amsterdam

[@etienneotto4153]

Why I cannot buy your books with Bitcoins but instead have to buy it on Amazon? Makes no sense right? Please improve that.

[@andreasantonopouls596]

join my WhatsApp group at [phone]

[@jabibgalt5551]

@@andreasantonopouls596 Impostor! OP, don't deal with that user, it's a scam

[@mayam6911]

You are absolutely right Etienne. He has his own website and clicking the book link takes us to Amazon. and Amazon doesn't accept bitcoins. Andreas can simply accept Bitcoins, but he need to take care of shipping. Right now Amazon does it for him. I suspect there will be a very small number of users who will order with bitcoins, but as time progresses, it will be dominant since there's no third party involved.

[@scottstankis69]

I believe you should be free to pick the currency you want to use. Why not have many?

[@espiritofurtado723]

a key question going in my mind when i saw the video is, if it is going to replace money then why do we have to pay money to purchase bitcoin. why the other person or anybody needs that money for.. i should be earning this bitcoin for my services or products to earn bitcoins to start with and then transact to buy other things... very tricky

[@teeskyers]

Yes exactly and in each example he made the employer was paying in bitcoin to get the ball rolling...

[@edwardmclean5373]

12:30 Great talk overall, but Andreas is completely wrong when he says of Gold/Silver coinage that they "Do not represent value itself", and that "Money is not the valuable thing itself". Real "Money' has important attributes that differentiate it from currency: Medium of Exchange, a Unit of Account, Portable, Durable, Divisible, Fungible (interchangeable), and a Store of Value over time. The reason that Gold is valuable is that it fulfills ALL those properties for Money, while also having use as a commodity (jewelry, advanced electronics, aerospace, dentistry & medicine) and a high relative scarcity.

[@edwardmclean5373]

Gold as Money is a bearer asset BECAUSE Gold as a base element has all of those valuable properties. By contrast, fiat currency has never been a good store of value over long periods of time, and it has no value at all outside of settling transactions between parties. The history of most fiat currencies start with the use of valuable & scarce metals like Gold and Silver, which are then debased through coin clipping, dilution with base metals, or revaluation by decree. The USD we know today was only possible because it started with Gold and Silver backing, before being debased by government, as is the pattern of history.

[@edwardmclean5373]

You may also note that Bitcoin fails two of the properties of Money, which makes the moniker of "crypto-currency" fitting, however it's still possible for it to earn the title of "Money" in the future. Bitcoin, and many other Cryptocurrencies, are NOT Fungible. The transparent nature of transactions on the public ledger leads to censorship & discrimination of it's units of account. This can be addressed in the future by changing the underlying technology, or by the market simply adopting an alternative cryptocurrency that is already engineered to be fungible.

[@edwardmclean5373]

The other point of contention is "Store of Value over time" - Bitcoin, and many other Cryptocurrencies, may given enough time ultimately fulfill this property - but not all will. Some will ultimately fail and be relagated to the dustbin of history like many fiat currencies before them. The passage of time and free market forces will ultimately establish which, if any, Cryptocurrencies can be called "Money".

[@edwardmclean5373]

Again, overall fantastic talk, I just wanted to offer some pushback on these points, hopefully it strengthens future presentations even more. I can count on one hand the number of people who educate about cryptocurrency as well as Andreas, and I think I have yet to find anyone I would actually claim to be "better"!

[@sandeepvk]

Is it possible that two miners might complete a " proof of work " simultaneously ? If so who gets rewarded the "coin" ?

[@charliegaudino]

Just looking at this now and I hope someone can answer this... Once the last bitcoin is mined then what happens to the transactions? If miners have no incentive to mine then who will be authenticating the transaction?

[@42apostate]

Thank you, aantonop! I'm wondering...if cash disappears mostly, how am I going to "cash in" my BitCoin when I want to use it for rent, food, clothing, etc., when most businesses won't or can't accept BitCoin?

[@magneticman245]

Coming to this very late, but the answer should be obvious: you won't need to "cash in" your bitcoin! Bitcoin *is* money. Just because most people and businesses don't accept bitcoin now, doesn't mean they won't in the future. In the future you will spend your Bitcoin directly.

[@Alv-dv2xv]

What would you answer if someone tells you bitcoin is not p2p because all transactions have to go through nodes?

[@magneticman245]

I'd say that person doesn't understand what P2P means. Nodes are peers. Miners are peers. Users are peers. They all connect to eachother, not to a central server, hence they are p2p.

[@SkystruckOnline]

Ive watched this so many times over the years...

[@SkystruckOnline]

I keep watching this and about 4 other of his videos all the time... this man... jeez...

[@super_teck]

how then do you set up a bitcoin wallet?

[@AeroPR]

The best way is for you to search in google and the top options will provide detailed step by step procedures. But just as Andreas mentioned, it can be as simple as downloading a bitcoin wallet application in your phone and takes a couple minutes to setup.

[@bruceryan2756]

Doctor Nature Hello my friend, do you know you can earn good profits into your bitcoin wallet daily or weekly with bitcoin investment and mining?

[@Gina-bt7qk]

Why when I did my taxes at home this year, did the program ask me if I did anything with Bitcoin?

[@jabibgalt5551]

Because the government wants a piece of it, of course

[@moussaself7703]

Andreas M.Antonopoulos '' Lover of wisdom"

[@cazzag8254]

So I’m very new to this bitcoin thing and have some fundamental questions 1. So what if there are power outages, like EMPs, could the blockchain and any bitcoins be lost forever? 2. What happens if I die, what happens to my bit coins. 3. Can I only have access to my bitcoin via a smart device/computer, what if I lose my device or have it taken off me how would I get access to my bitcoin? 4. Can someone else get access to my bitcoin by hacking my device?

[@maryhernandez7840]

2. Can be given to your loved ones 3. Write down your back up phrase. If you lose you phone, you can get access to your bitcoin on a new device using your backup phrase

[@maryhernandez7840]

No one can have access to your wallet, except you give your info out

[@AllTotalCoaching]

Brilliant talk thank you

[@ThomasJScharmann]

Geez dude you are good.

[@Think-For-Yourself-Man]

Simply outstanding!

[@ma.soniaechague5270]

Amazing

[@hectorgonzalo9940]

This is a very important query for the bitcoin world. There has been an impressive increase in transaction costs and delays in Bitcoin confirmations and it can be understood that it is because of the increase in transactions related to NFT's, miners crash their servers due to the digital weight of NFT images. Practically the whole bitcoin world will collapse. Is it possible for Adreas to comment on this? Hector Gonzalo

[@gabrielmegiasgiannits4758]

fgaristo para poli andreas.!! e ise o kaliteros..!!!

[@ITSMEEBOSSLADY]

Gabriel Megias Giannits heyy Gabriel

[@gabrielmegiasgiannits4758]

Hey itsmee boos lady.--! how you doing?.. i see you always on live chats and comments.. you are very active,, when are you gonna be apearing on any shows..!??

[@rainbowcollectionmall5261]

I really like your video, but it is hard for me to understand about Bitcoin, because I am newbie to Bitcoin, can you explain about Block chain kindly?

[@whoyatoya]

Rainbow Collection Mall. Blockchain is a ongoing Ledger of Transactions that have taken place from the first day bitcoin started. A copy of this Ledger runs on thousands of computers around the world at the same time. The term "block refers to the number of confirmed bitcoin transactions ( transactions that are legitimate and not double spent) that took place in a 10 minute time frame . Every 10 minutes the the bitcoin network rewards a mining pool (a group of computers checking and confirming transactions) with 25 bitcoins. To win the reward one (a mining pool) must answer a complex math problem by throughing hundreds of thousands, maybe millions, of random numbers back at the network . The first pool to answer the question wins the 25 bitcoin. (simply luck) So, every 10 minutes bitcoin comes into existence. Once a block prize (25 btc) is awarded to the winning mining pool it is closed and linked to the last block of transactions. Now you have a chain of blocks and a concise record of Transactions from day one. Hence, you have a precise ledger of every transaction ever executed since January 3 2009. A ledger that can never be manipulated or changed. This is called "the blockchain" Hope this helps....

[@أبوعبداللهالحنبلي-ل6ش]

what a mess to let people money connected to (simple luck) , and catastrophic consumption of enery (electricity)

[@seantato]

I watched this video, another video, and read an article and this is probably one of the best explanations I've seen but I have a couple of questions. 1. You said that a block is the number of confirmed bitcoin transactions (legitimate and not double spent). How does the network validate the individual transactions to make sure they're legitimate? 2. There's a copy of the entire ledger of every computer that runs the bitcoin application, right? If data is only appended to this point, won't it eventually become too difficult to run bitcoin as the size of the ledger continues to increase and take up disk space? 3. Where does the trust in the system come from? As in, if there's a "correct" answer associated with adding a block to the chain, why do people trust that these answers are randomly generated?

[@stock7628]

​@@seantato The blockchain is around 283GB now. Not that big compared to the internet and google servers etc. Moores law refers to Moore's perception that the number of transistors on a microchip doubles every two years, though the cost of computers is halved. Moore's Law states that we can expect the speed and capability of our computers to increase every couple of years, and we will pay less for them. Another tenet of Moore's Law asserts that this growth is exponential.

[@NightBlade54]

Another step into The Singularity. Give the trust to the computers.

[@jabibgalt5551]

Isn't that awesome?

[@Omkar_Kashyap9]

I love Double AA.... People who have disliked this video are scared of AA, more than Bitcoin...

[@jameshamilton152]

thank you for valuable resource

[@teeskyers]

Where can I find an actual video on how to buy bitcoin, where to buy bitcoin, how to withdraw bitcoin and make it into usd ... regular daily functions ? Thank you

[@joeoconnor822]

r/bitcoin

[@maryhernandez7840]

99 bitcoins

[@KailashThakur0z]

Have you heard of an invention called google?

[@dance4rain]

Oh... I missed this. Wish I was there

[@robdcbtcinvestanduse5003]

Thanks for overview in ways we can Understand

[@SurgeWorld]

Well explained!!! Great job.

[@IfatGlassman]

Maybe this will sound like nonsense, but here are my thoughts about thi: The implicit philosophy of the government is that it is not legal to own anything without the government knowing about it. When you stop to think, not about the explicit law, but about the implicit philosophy directing the various things they make the citizens go through, this is what is at the core. That the citizen is here to be regulated by the government and that it is reasonable and normal for the relationship to be like that. And so, it is only a matter of time before they catch on to HOW exactly they will try to regulate the use of Bitcoin (and/ or the internet), because they have the power, and to combat that power you need philosophical and moral clarity; technology won't be enough...

[@Anamnesis]

Awesome video. Also, the camera guy had me laughing my ass off.

[@bthestory5443]

👍 👍

[@VictorNgTZ]

Wow this talk was held at malaysia.. 4 yrs later there is news that the malaysian police decided to destroy 1.7M USD worth of bitcoin mining equipments. This is why we cant have nice things in msia

[@thehotgamers]

Well nowadays every coin business requires you to put your id and some more details....

[@leslieschamberg]

Genius personified. 🥰

[@evelyndeguzman467]

i never been have bitcoin i tried but fail transaction. i tried twice not succsful to buy it.

[@mayam6911]

Really? I can help you out....

[@kellypetersons4326]

Are you interested in finding new ways to make your money work for you while you focus on other things in your life?? This is called financial freedom 💯 Are you interested in creating extra money for your business through investing in bitcoin and learning how to trade it daily for extra profits, this is possible, I do it, you can do it too👍 I hope you're interested in this opportunity, kindly disregard if you're not interested in this offer, thanks

[@frostian]

I have Andreas to thank for a lot. Much because of his engaging talks about Bitcoin I bought at $200 in early 2015. I retired this summer at the age of 34, and after the latest rise I can call myself a millionaire. To think that this is only the beginning of this technology is seriously almost scary to think of.

[@Exxtol1]

Awesome!! I'm just getting started in it now and I see that this is the future!

[@frostian]

@@Exxtol1 Great! Keep your keys safe and strap in for the ride 😂

[@jacquelinepayne2012]

The trouble with most Bitcoin lectures is that they are either passionately for or against. Neither side can satisfy my need for objective information showing the pros and cons. Also I find the concept of robots (non-humans) trading in Bitcoin rather creepy, they already have caused uncontrolled sell-offs and other glitches that have hurt people. Why is this a good idea?

[@kelvinauthor4690]

It highly profitable

[@Maxparata]

I have a question, is there a chance that crypto money can get restricted and its usage made illegal by a government?

[@plasticman2011]

It can be made illegal, but that won't stop usage or stop the network from operating.

[@michaeldenis9992]

Hi, is it available in French? I would like to share it with family members who don't speak English. I could work on a translation and even dub your voice if needed.

[@charlotterobert5736]

what is the best way to make money from investing?

[@covallrms]

Thanks Andreas