What Is Bitcoin And How Does It Work? | Crypto Real News
Channel: Crypto Real News
Date: 05/12/2018

In this video, CryptoRealNews explains what Bitcoin is and how it works in just 3 entertaining minutes!. Bitcoin is a DIGITAL ASSET, a PAYMENT SYSTEM and CURRENCY all in one!  invented by an unidentified person or group of people under the name Satoshi Nakamoto in 2009. Interestingly right after the 2008 banking collapse known as the Global Financial Crisis or GFC.

Bitcoin is known as "The People's Money" and is growing in popularity all over the world. Did you know El Salvador is the first government or country to make it legal tender? 

In this video, we'll explain what Bitcoin is, how it works, and the implications it has for the future of finance. And touch on the positives of it's disruption to the massive banking and government powerbrokers and perhaps why they try to bad mouth it at every opportunity.

Bitcoin is often referred to as a cryptocurrency, although it is not just a currency. Bitcoin is a public ledger that records all transactions. Transactions are verified by network nodes through cryptography and recorded in a publicly distributed database. Bitcoin is unique because there are a finite amount of them: 21 million. It is mostly used today as a store of value because it is not as inflationary as all government monies. So ideally, over time, it should grow in value compared to all government currencies which are designed (since 1971 - that's another story) to devalue and cause inflation given it is always printed out of "thin air" at the whim of central banks and governments around the world.

00:00 Introduction
00:23 Bitcoin's History
01:01 How it works
02:25 How is Bitcoin acquired?
03:00 What about other crypto currencies?
03:31 Outro

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DISCLAIMER:
The information provided in this video is general in nature only and does not constitute personal financial advice. Nothing in this video constitutes investment or legal recommendation, nor should any data or content mentioned in this video be relied upon for any investment activities. You should consider seeking independent investment, legal financial, taxation or other advice to check how the video content information relates to your unique circumstances for your jurisdiction as well as your own circumstances.