Blockchain/Bitcoin for beginners 1: Basic analogy part I



In this video I introduce the basic concept of a blockchain as a way to record a history of transactions in a way that cannot ever be altered, doctored, removed without detection. I want to…

22 Comments

  1. for 2 years, i have been searching for a way to make money off cryptocurrency and i got too frustrated until i met Mr crow
    who makes me about $500 every week with his mining device. his email is cryptocrow800(at)gmail . com

  2. Thank you so much for your great explanation of the blockchain system! I really appreciate you taking the time to do this! Best explanation I've found. Btw, your drawings are fine, they definitely helped get the message across. I've been successfully day-trading BTC for a couple months now and finally I am learning what make the system tick! I want to learn everything I can about this technology and as one of the other commenters said, its off to the next tutorial. I certainly look forward to watching all of your tutorials. Please continue with more of them!!

  3. Single best resource I've found for understanding how distributed ledgers work. It's long (watched up to ep14), but absolutely worth it. The series on cryptography is equally excellent. I've always thought that if I don't understand something, it's because it hasn't been properly explained to me. With this series, I now understand the simplicity, yet undeniable genius and elegance behind the Bitcoin technology. The tools were there all along, we just needed somebody to assemble them into the right protocol. Thanks Satoshi! And thanks Matt for pulling back the curtain in such a comprehensive and understandable fashion!

  4. Great explanation. Just started getting into Blockchain technology in a serious way and I'm learning from as many angles as I can. I truly believe this will be world changing! Your video helped a lot. Looking forward to watching the next one! Thanks Matt.

  5. hi matt, great explanation, had a query on the distribution.

    1. Will the photocopy of the chqs will be shared across the other members or only the outer cover where the details (like the weight, parent weight and chgq details) are printed?
    2. hypothetically if the photocopy is shared wont the weight be different than the original one?

    regards,
    Shree.

  6. Awesome explanation and great analogy. Don't stress about your drawing skills, it in no way detracts from your points coming across. Can't wait to watch the rest and keep up the good work!

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