What Even Is Bitcoin? (MBMBAM 519)

[@wonnor53]

Justin quietly saying "go off" when Travis is talking about bitcoin is EVERYTHING.

[@jonpinyan]

My favorite part of this was right after, at the top of the money zone, when they were like "By the way, if we explained any of that wrong, for the love of god don't you dare tweet at us, we do not give a shit."

[@DavidBanuelos]

I have even less understanding of bitcoin now. Thanks.

[@ViewerEm]

as someone who knows about bitcoin justin is surprisingly right. bitcoin is less a currency and more you paying someone money to get the outcome of their computer's work at solving the puzzle

[@IronicHavoc]

Though we could say fiat currency isn't currency, it's me paying someone hypothetical gold for paper because its backed by an authority and/or system that regulates the amount and security of said currency. Aren't the computational requirements and transaction verification involved in the process of crypto mining supposed to achieve a similar end? AFAIK Cryptocurrency still amounts to legitimate currency in theory, though you could also argue bitcoin investment in practice right now is more about using the crypto exchanges/mining as a middleman to other currencies rather than a "true" currency (again that's just my limited impression). But ultimately yeah, Justin's description still isn't too far off from the essence of the whole thing. And it's a funnier way of putting it.

[@auroralong5437]

that's because Justin looked up an explanation (a very confused explanation I would say because they made a lot of assumptions/jokes that are incorrect) but knowing how it works just makes it funnier

[@sorio99]

The funny thing is, what Travis describes around the 2 minute mark is actually closer to NFTs, and that’s less funny than it is deeply depressing

[@tpereziv]

Who needs Wikipedia when you have the McElroy brothers

[@IndirectCogs]

The computer has to "get lucky" because many many many people are attempting to solve the problem at the same time.

[@cutemess96]

trav’s explanation of bitcoin mining makes so much more sense than the real one. both are bad though

[@Fiona-West]

0:21 travis: “all money is a scam if you think about it” justin: “go off” griffin: “he’s not wrong”

[@veteratorvulpes1116]

You know, if you make the point that the prize is the answer to the math puzzle, this explanation is only wrong in ways that don't matter

[@ultimateninjaboi]

My ears are literally ringing after trying to listen to the brothers talk about bitcoin...

[@Willow.Delilah]

I can't believe Justin's answer was technically more correct, XD