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The real value of bitcoin and crypto currency technology - The Blockchain explained

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Donations are welcome at: 1AtFaRrPFiwm2xUYN2C41edGgKPR5AXYDh Blockchain and Bitcoin explained in five minutes: Blockchain technology will drastically change our lives. In the coming years, Blockchain, the technology behind crypto currencies such as Bitcoin, will inevitably and radically change the role of traditional trusted parties such as banks, accountants, notaries, and governments. The animated video about Blockchain and Bitcoin that was released today on http://bitcoinproperly.org is the first to specifically address the technology behind Bitcoin: the Blockchain. Within five minutes, it is explained how the essential functions of the “trusted third party” can be automatized through the Blockchain as well as what the implications of this are. From Bitcoin hype to Blockchain revolution: an internet of trust. With the arrival of crypto currencies such as Bitcoin, everyone around the world can trade with each other without any involvement from traditional third parties such as banks, notaries, accountants, and governments. Trade is a fundamental pillar of our economy and society, and traditional trusted parties play a crucial role in this. The technology behind Bitcoin making all this possible – the Blockchain – ensures that the essential functions of the “trusted third party’, are fully automatized through the internet. This way, these functions are as freely available, accessible, and programmable as the internet itself. The animated video, available in both Dutch and English, explains how this works, also mentioning practical applications. The implications are clear: in the coming years, the role of the traditional trusted parties will inevitably and drastically change, strongly impacting our daily lives. The creators of this animated video invite its viewers to think about and discuss the fundamental and radical innovations made possible by crypto currencies. Rutger van Zuidam founder of Dutchchain, organizer of the Dutch Blockchain Hackathon: “The Netherlands have all the assets to become Europe’s Silicon Valley of financial technology. It is possible for the Netherlands to position itself favourably in comparison to the US and UK, who are currently still ahead. The technology behind crypto currencies like Bitcoin plays an essential role in leveraging these opportunities. We hope that the animated video about the technology behind crypto currencies will positively affect this development.” Lykle de Vries: ”Bitcoin is not the new money for internet,but it is the new internet for money, value and ownership in all forms. Crypto currencies like Bitcoin are the next step in the emancipation of all world citizens, and can help create a new dynamic for democracy, society and economy.” About the creators The animated video is a non-profit initiative by designers Patrick Loonstra (www.patrickloonstra.nl) and Sebas van den Brink (sebasvandenbrink.nl) and entrepreneurs Lykle de Vries (ThesisOne.com) and Rutger van Zuidam (DutchChain.com).
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Text Comments (625)
David S. (6 days ago)
Brilliant?... police have been using this for 100 yrs. it’s called chain of evidence.
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Psycho Kołcz (3 months ago)
I don't understand example with vending machine and drone? Could somebody explain it for me? Right now we can just use common database to do such operations and we don't need to use blockchain for such applications.
Cuong Vu (3 months ago)
The real value of bitcoin is ... not much: http://theconversation.com/what-is-the-real-value-of-a-bitcoin-96386
Steven Fishburn (3 months ago)
Powering through your day involves cryptocurrency, it's going to be great days, if you have the patience to buy and hold onto them.
Sherie Schaefner (3 months ago)
People need to understand that there's a bigger picture to crypto and the one sold by mainstream media outlets only speaks half truths.
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Meren Daniel (5 months ago)
Wow, thank you. Great video.
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hi, I am doing a MUN with the agenda of cryptocurrency, for which i need notes and understand the concepts. how can i contact u?
Pawan kumar gupta (6 months ago)
best friends in blockchain and impossible is matching
FPChris (6 months ago)
clear as mud.
Ghoul on the Track (6 months ago)
Saved my life
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Mark Glenesk (8 months ago)
...but how do I spend it? Can I buy a hotdog at the Dodger game with Bitcoin?
Brent Willis (8 months ago)
Hi could you do a review on the new NAGA wallet now it’s been released? Is it the best wallet available?
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Bruno (9 months ago)
Finally! Technology to fix the world!
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Sound Police (9 months ago)
Sorry, I can't listen to this because of loud and crappy background music. Thumb down.
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check @zoinofficial #ZOIN $ZOI
Andrew Jenery (9 months ago)
What is the client program that runs or displays this 'one digital ledger' to all nodes on the network? Does everyone end up with the same client program or software or are there different client programs?
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Josh J (10 months ago)
I still don't understand who or what is in charge of telling what one bitcoin would be worth. If in the video she says that any unit of bitcoin can represent any different type of property when its programmed than what if for example I want my bitcoin to be worth a million dollars, somebody says their bitcoin is 200k, and another $1 . Who get to say what its actually worth and program it as such? I'm just confused and would like to understand. If users decide then how did it get to the price it is today at 8,000 ? Did they all vote on it or what?
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Richard Brout (10 months ago)
LOL.. fancy nice cartoon animation doesn't make up for the FACT bitcoin is a pyramid scam. It was DESIGNED to be inefficient for a reason.. Do you really believe the "technology" that is so brilliant and will liberate us all would be so poorly thought out as to require half the worlds power consumption in REAL non renewable energy by the time it matures??? wake the fuck up for fucks sake. Bitcoin was a novel ideal for small-scale Peer to peer payment that was hijacked years ago by scammers who realized it as a vehicle to create the biggest pyramid scam in human history.
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matrixugly (10 months ago)
What happens when it's no longer as profitable to mine after 21M is hit? If miners shutdown, the difficulty should reduce right? And I suppose if the difficulty of the blockchain doesn't decrease, it forces innovation to make mining and computations more efficient? In any case, the block chain continues indefinitely into the future even after 21M BTC are generated and the network is secured while miners are rewarded from the transaction fees alone. Very fascinating!
kevdog20 (10 months ago)
Make sure you watch the whole video every one don't skip around. If anyone wants to help a disabled brother a few dollars every little bit helps thank you. Bitcoin address is below 1N4yc9qyEgTXc9UcbhFzvXGh3RNToF3UMJ
Dave Brent (10 months ago)
Bitcoin and Ethereum have made a lot of people very wealthy. Just $10 7 years ago will be worth $7.5 million today. And $100 in Ethereum has increased to as $66,290 in under two years ! There are stories everywhere of people getting rich. I personally invested in bitcoin and Ethereum. And I've collected bigger gains here than in anything else in my life. For example, I bought Bitcoin twice . 10 coins at $83.40. And 20 more at $128. Today my 20 coins trade nearly 24 times higher . And I also bought Ethereum last November at $9.70... before it rocketed to $355! I was up over 3,500%. But here is the thing nobody is talking about. Bitcoin and Ethereum aren't the real stories anymore. It's the smaller , lesser known NEW digital currencies that are rewarding investors with the next round of huge wins. For example , I recently obtained 27,000 coins in a tiny new digital currency for just 18.5 cents per coin. Those coins now trade for around $4 each- 1,981% higher. And I invested in another one that's jumped from $1.50 to $10.71. Yet this opportunity is just getting started . Today I'll show you the new digital currencies that can turn as little as $10 into over $1million... in the blink of an eye. Yes, that's right... a single crisp of $10 bill could make you a millionaire. It's not only possible... it's actually happening right now . Consider , investors have seen gains of... 75,063% in Cryptonite, 59,577% in InfluxCoin, 60,450% in MaxCoin, and even 823,750% in DubaiCoin! Tiny new digital currencies are offering profits far bigger than bitcoin and much more quickly. I've personally made over 600% in one digital currency more than 1,981 in a second and over 3,500% in another, and I expect to make a whole lot more. Digital currencies are the one place in the markets where you can start with $10 and turn that into real money fast. CNBC did a story on a high school dropout who bought Bitcoin at $12 and is now a millionaire. And the top investors in the world are going all in on the new digital currencies. Now this is what you guys out there should know . A new set of coins are being launched now that could help you turn as little as $10 into over $1 million. I've never seen profit opportunities like this before... in any market and at anytime. For example... in one recent week 23 separate digital currencies doubled in value. By comparison, the S&P 500 hasn't seen a single stock double yet this year. But only those who recognize the opportunity right now will see the fast profits. I first got in on Bitcoin at $83.40 and $128... only to watch it soar to over $2,000. But now I've turned my attention to the new digital currencies. For example; I invested in ANTSHARES earlier this year and at the time it was trading for just $1.50 but I watched it climb to $10.71 in less than a month. I invested in tiny new digital currencies of 12 coins and I cashed out 12,000 at $3.50 but still hold the rest... nearly $100,000 in total. There are now dozens of small digital currencies trading for just a few cents that are moving up dramatically over very short periods; like Asch traded for few cents at first but in less than 3 months $100=$,570. NolimitCoin traded for few cents but now $100=5,348 in 6 days. MediterraneanCoin traded for few cents but now $100=8,313 in 3 months. Note; you should not be so greedy by wanting to invest in all cryptocurrencies in the market as you can not tell or can predict which of the different cryptocurrencies will rise thereby losing your invested funds. But one should try and have knowledge and be conversant with at least 20 different coins which have the potential to rise in no time in the future. You can contact me on [email protected] to help and guide you into becoming a successful crypto and digital currencies trader to earn you good profits trading cryptocurrency.
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holeeERIC (10 months ago)
I have a Q. If 1 Bitcoin can be divided upto 1000000 units and a user can assign 0.000001 bitcoin unit worth for any product for example, 1 dollar, does that mean 1 bitcoin can worth 1000000 dollars? Of course, the mining difficulty increases and consumes more electricity cost, so people cannot get a bitcoin unless someone sells it? Is that the reason why a crytocurrency has the money value it currently has? Price = Mining cost + demand + supply? Q2. Bitcoin, ethereum...etc. are programs i mean codes. Are they copyrighted? If someone creates another bitcoin coin that has the almost identical function, will the plagiarized coin be banned? If not, will the price of bitcoin be half?
Weraxx R (10 months ago)
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Wilhelm Otto Dusseldorf (10 months ago)
A blockchain voting system would keep elections legit and government accountable.
Meister der Erkenntnis (11 months ago)
Sehr gut 🌱
Ann Denault (11 months ago)
When is best time to invest when bitcoin high or low?
Bobalazs (11 months ago)
Took so many years to pick up the pace, and still not on track.
For Real (11 months ago)
This is great, but bitcoin can still be owned and monopolized. There are still things like patents out there.
sevdet kukaj (11 months ago)
This was the best explanation of Block chain and Bitcoin have ever seen, BRAVO and thank you !
Fuck Off (11 months ago)
buy ELECTRA ECA all of you trust me!!!!!!!!!!!!!!!!!! AND HOLD 1 YEAR!!!,new bitcoin!
barciu11 (11 months ago)
stupid intro!!!
Superdoctor (11 months ago)
Here you can invest 100$ and get in 1 year thousands of dollars with reinvestments: https://bitconnect.co/?ref=danny259 Here you can mining Crypto Currencies and multiply your money by five or six: https://hashflare.io/r/705AE154 LTC: LWKQtjHdHiLqumPqFaXiTSitGcZ2pUM2Zq
oliver mia (11 months ago)
Can borderless open decentralised blockchain fucntion without the application of currency? If currency will not be used, how will the miners get rewarded?
Crypto TA N' Talkin' Ish (11 months ago)
Hey, can i use this video? and is that address for a bitcoin account?
IIAlbertII (11 months ago)
How do they determine how much cryptocurrency is circulating?
Hement Sharma (11 months ago)
Blockchain is well and good but How do you decide worth of a crypto currency??
B Dean (11 months ago)
trust the blockchain. love the blockchain
Weilun Mo (11 months ago)
Does it mean that the value of a unit of bitcoin is mostly the underlying property it assigned to, rather than the coin itself? (around 3:30). So bitcoin is more of a cheque that I can use? So a 1,5000USD bitcoin is 1 million pages of cheque book? thats 1.5 cent for each cheque?
https://youtu.be/-y7dVNXqNRg
Ryan Cope (11 months ago)
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eli lopez (1 year ago)
What if theres a disaster no power .no crypto currency no nothing
Brian Gale (1 year ago)
Can someone tell me who is doing the voice over?
Stay Gold (1 year ago)
hashflare.io/r/25A2011E 20%-35 OFF
Alexander Hewett (1 year ago)
I am so glad I bought Verge(XVG) we just passed a penny just before the wraith release and are up 30%
Thomas Schweitz (1 year ago)
This video in deep understanding of Block Chains. We Bitcoin market has gone skytocketing the last 12 months. But any cryptocurrency can be the next big one. Acutally there is still great potential in Ripple Coin. The marketcapacity is Low and the growth is high
john15399 (1 year ago)
ERGO WE'RE IN THE MATRIX
Mr Reality (1 year ago)
Born to late to explore the earth, born to early to explore the galaxy, born just in time to explore cryptocurrencies.
Varun Bhalla (1 year ago)
its easier to understand Bitcoins than to understand my girlfriend :P
William (1 year ago)
Yeah, Bitcoin is going to save the world yada yada - except that hackers can steal Bitcoin, according to the latest news, so all this "have trust in the blockchain, everything is open, transparent, verifiable" flies out the virtual window
Lucas Layton (1 year ago)
I bought bitcoins solely to flip off those greedy ass big bank cunts and all those wall street motherfuckers.
J Vili (1 year ago)
Love it <3
Tube Hackers (1 year ago)
Thank you so much for making this video!
DjJtown (1 year ago)
Another link in the New World Order. Think it's a stretch, follow this...1) Tracked WORLD wide 2) Can be programmed to be rescinded after XXXdays "...to prevent hording..." 3) Turns everyone into cyber-directed lemmings "...transforms the BASIC pillars of society..." 4) Has MANY possible applications...including tracking Everything you do and everywhere you go. 5) Eliminates cash...the World becomes a Socialist Society. Still laughing, well that is exactly what everyone said about website cookies and look where we're at today. We HAVE to have AdBlockers on our computers. Our phones, which were thought to be out of reach, NOW are tracking our every move to the point we turn off ANY type of GPS or locating service on our phones. We have to have more than 1 piece of virus or malware software to Prevent any kind of "hidden" cookie from being placed on our devices. Identity theft is becoming rampant and since Today's society is so sadly rooted in credit and being cashless people are now starting to get put into financial castes. That's a sad fact because it's true. There are Many business that will only do transactions thru your phones such as Apple Pay. If you can't afford a New $800+ phone, that purchase is out of reach for you. Today, EVERYTHING is about the almighty dollar and corp profits. They could care less about You or myself and what WE want or need. They will give us THEIR options and that's it. No, I don't wear a tinfoil hat but I see how much faster This type of technology is being taken control over by the TOP 5 world wide businesses, govt and banks. There are some things we can't fight but THIS, we should, at least in part where banks and govts come into play. We NEED as a society to slow down. We need to get of this "I Want It Now" bandwagon. We need to get back to the 50's. I was born in the mid 60's but I have been thru mall town s that STILL carried on the 50's living style and that was just a few years ago. Just for the day that I spent there, I felt SO much stress get released. There is NOTHING about todays society that is relaxed. We MUST have that again and Daily!
Vipin VG (1 year ago)
https://golden-farm.biz/?i=317521 earn free bit coin
Wii Jaen (1 year ago)
#5 for today! Price > 8 B$ !! xD Do you think IOTA will flip Ripple in the short time? ;-)
Tron vron (1 year ago)
Bitcoin value goes to zero omg-https://youtu.be/KIX9fqIleEo
a64750 (1 year ago)
Bitcoin's a loaded debit card but how to reverse a fraud transaction or stop payment dispute or Nigerian kidnapper ransom scam? Who to call if one loses the private key? in 2013, James Howell threw away a hard drive 7,500 bitcoin
edups (1 year ago)
this is 3 years old. bitcoin then was maybe 300$ ? now it's 10500$ holy shit
James Kelvin (1 year ago)
Yup Nice Video. I came across Nucleus Vision which is an IOT & Blockchain based contactless identification system which aims to transform retail business by better handling of supply chain and improved customer experience.Looks quite amazing. Check :- http://bit.ly/2zxZunB
woo donghua (1 year ago)
BTC is great! More crypto currency want to be next btc. Who is it ? Deeponin, PosToken, Etherum, Dash, or other coins ? I think it will be DeepOnion.
Daniel Hutchinson (1 year ago)
After watching numerous videos about cryptocurrency, I think there is great potential that it will become an everyday payment method. I believe that whilst there are 100s of new cryptocurrency blockchains popping up daily, there will only be a couple that can make it as an everyday payment method. I believe there will be 1 - 3 that achieve this, just like Visa and Mastercard. As a result of my recent interest in cryptocurrency, I have began trading them in hope that I can learn enough to make some decent money rather than spending money on mining rigs and electricity to go with it. I have found that Cryptopia to be the most user friendly exchange currently and suggest that if you are considering to commence trading or already do to check them out over at http://bit.ly/2z9Bym3
Kaan Ilbasmis (1 year ago)
Who can fund me some Bitcoins? I want to get started with bitcoin but I have not enough money. 376WbJRPhySUNPC5zeYPCFEXisQbXjxeEJ
Artisan (1 year ago)
I'm post here cause I know this is the future in years to come ;) ~ 2017
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Khuram Zahid (1 year ago)
So, this means that there will be no need for audits and bookkeeping in the future. This will eliminate more jobs in the finance industry, than it will create.
Maks Suhanos (1 year ago)
CryptoPublication.info In simple words about complex technologies
thetruereality (1 year ago)
Didn't quite get the " collective book keeping concept " how would you identify who the transaction belongs to? How do you decide how many transaction logs should be stored where ? It is not very convincing If the block chain represents literally each and every transaction it is not very practical and also to some extent pointless because why would my computer care to store huge number of transactions of couple of strangers
Chris Weed (1 year ago)
There are so many comments here that suggest their authors do not understand the concept of a paradigm shift. As a great lyricist once wrote: 'In a sky full of people, only some want to fly...... isn't that crazy'
Reasonable Guy (1 year ago)
What gives Bitcoin Value?
Michael kyriakides (1 year ago)
would you mind if i placed this video on my website?
7 years after it's invention it has no major use and is pretty much a dead technology
SAL (1 year ago)
You could have also easily said the same thing about the internet when it was only 7 years old. If you study it closely, you can definitely see the potential. Already in Venezuela we are seeing the citizens using bitcoin to evade corrupt capital controls imposed by the government.
Bob Smith (1 year ago)
The ambient background music is amazing
Hans Hanson (1 year ago)
http://bitcoin-generator.de/ratgeber-bitcoin-kryptowaehrungen-erklaerung
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Abdul Taha (1 year ago)
1 question, if all the transactions are public, does that mean that the tax authorities can also monitor them?
SAL (1 year ago)
Transactions are public, but they are only strings of random numbers and letters. It is difficult to associate a person's ID to them!
Quantum Araa (1 year ago)
Is the blockchain finite? Meaning will it last forever or is there a limit to how much data it can hold?
SAL (1 year ago)
It isn't built to be finite - it can keep growing as long as people are still using it.
Noah Namey (1 year ago)
And this is how we all get "The Mark of the Beast"

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