Bitcoin Explained by Michael Saylor
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- เผยแพร่เมื่อ 22 ส.ค. 2024
- Michael Saylor explains how Bitcoin's distributed ledger system works.
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Listening to Saylor for 5 minutes always calms my heart whenever I get anxious and start to doubt.
Oof. He's like your Crypto Jesus.
I'll always think Michael Saylor is Iconic 😊🎉
There will always be small minded individuals that will NEVER understand cryptography and blockchain.
Money should be simple so everyone can use it.
This is not.
@@ThatRandomTH-camr28its not simple because you havent get used to it
@@ThatRandomTH-camr28it’s pretty straightforward if you take 30 minutes to read about it
@@Elonmftusk i have.
Its not straitforward.
@@ThatRandomTH-camr28 money isn't meant to be free fiat will die
this is real decentralization.❤ Bitcoin is pure reality !!!
Way out of the Matrix
BTC🔥
up forevar, Laura!!!!!!
Forever Laura
Firivar Leura
Crypto sets out to replace Fiat currency, but the value of crypto is measured in Fiat currencies!!!
As long as tether is being here, it is always 1:1. Unless tether is gone, other crypto will be the middle guy. Same as you changing currencies in money exchange and they are using USD for everything.
Hmm, BTC was never designed to replace fiat though.
Atm bitcoin is mesured in fiat but one day fiat will be measured in bitcoin and at that point you rearlize that no one is selling there bitcoin for fiat… ever!! 😜🤯🫡
Measuring against fiat is not that smart. Measure it against gold instead(XAU). There is far less volatility in that market. You think Bitcoin is volatile because you're measuring it against fiat. Well, what if I told you Bitcoin exasperates the volatility of fiat, not the other way around. Do you think fiat is stable? You have no idea man.
Warren buffet is going to be wrong on this one. I’d like to see him short this instead of talking bad about it
He can short it in the bear… as us
Warren buffet has made billions off crypto currency...... he runs a bank called nu bank in Brazil that pretty much runs the brics nations threw that like swift network using xrp ledger and IBM hyper ledger ( xlm ) and has had insane profits from being a middle man bank in exchanges even penny's on the dollar he wins and every one wins.....
And lose your password, and your bitcoin will vanish... winning
Then don’t lose it 😂 majority of people can’t handle there own money they need a bank to hold there hand 🐑
If I lose my passwords I have way bigger problems - didn't lose any bit of data over 30 years and my brain can hold the master password
Or get hacked.
@@mikael3201 no backup, no pity
i see the bitcoin price and now feel relax
He said "we" ... who is this "we" .... he is no one
"We" in this context is anyone who is mining bitcoin and securing the network by doing so.
When you mine bitcoin you do 2 things:
1.) keep track of the ledger that is public.
2.) basically roll a billion sided dice and see if you 'win' the block reward. Or, if your 'team' wins the block reward since most people mine as a part of a group, so if you provided 10% of the hash rate of that 'group' and the group gets the reward, you get 10% of the reward.
Micheal Saylor called apple before Apple was Apple he's a great salesman
reading these comments it's the internet argument all over again... people won't truly get it until these no more bitcoin on exchanges to buy‼️
Its absolutely nuts to think btc will replace fiat. Eight billion people in the world and only 21 million bitcoin and you can’t even hold one in the palm of your hand.
Bitcoin is like having a lottery ticket. Even now, it's so early. Those who claim it's too hard deserve what they get down the road. Talk about pure LAZINESS. Congrats to all the hodlers!! We are only getting started.
Dash does that too and so do many other crypto currencies. Bitcoin is the first, but is definitely not standing alone nor the best
Sigh, browncoiners...Okay here it again for the slow people. Nothing else was as fairly distributed upon release with zero premine. Everything else has a known founder. That will never happen again. If you don't get how those two things are complete game changers then you don't understand Bitcoin.
Have you seen Dashes chart priced in Bitcoin? Cratering, just like all the other brown coins. Have fun staying poor.
Well there are lots of different currencies around the world all doing the same thing however USD is the standard the world runs with: Bitcoin is the USD of the Crypto world.
@@dragovisnjic4570 and the world reserve currency is backed by the USA military. The other currencies are also backed by power. Bitcoin and Dash are backed by the dollar. Technically, Dash is a better cryptocurrency than Bitcoin and it’s far less expensive.
Sorry don’t trust it still
did these coin got hacked by someone....Over $3.8 billion worth of cryptocurrency was stolen from users in 2022?
It doesn't need Everyone trust to get its value. Just a few people trust is ok. Most people think Monalisa is garbage 🤣
people lost there whole savings during the bitcoin crash couple years ago
@@thewatcher9778 how so anybody that held is now up and anybody that sold was gambling and didn't know what they're doing. this is a buy and never sell type of game
Dont trust… verify! Do the work chavy 😊
He should have said at the end "after all it has no other value, it just stores the value. There are over 2 quadrillions Satoshi. It's a specultive bubble. All people are buying it hoping it will grow in long term. Some Hope it will grow short term. Typical bubble, but I also bought it cause it will grow 🤣"
Genius
He could seĺl sh!t. 😂😂😂
It’s Beanie Babies…
Too much complicated things are always better to be avoided.
There isn't anything complicated
Who is the administrator of this system? Who is doing updates or upgrades. New software never runs perfectly from day one.
Get educated matey… read a few bitcoin books and learn something useful 😜
You can say it is community driven.
In practice it is usually founders and IT engineers/IT fans and some big actors who drive it.
Out of curiosity, what happens if say a few major sea cables were removed and your single network became multiple?
Also fiat money. Nothing of intrinsic value. Instead it costs money. Every 10 minutes.
No matter how safe the crypto block chain appears to be. The exchanges which hold your money are not. An advance AGI, a corrupt CEO or a government can bring down all of crypto. Why is this not a concern.
This why smart crypto enthusiasts put their crypto on a personal wallet. Ever hear of the phrase not your keys, not your crypto?
@@126644 I understand that. What some fail to grasp. When a top 3 exchange fail because money is drained from it, where are you going to sell coins that are tanking fast(for example FTX). I'm worried the exchanges are vulnerable. How about when hundreds of altcoins are proven to be a scam. Not even BTC will be safe from panic selling. You can fly to Venezuela and try to sell your 100 BTC. Even if they had the money, do you really want that currency. The block chain is solid, but infrastructure around it is controlled by people. Good luck.
It is least possible, just like Central banks taking all the money and gold by himself. Cold wallet is an option but because of web 3 development , without exchange platform we can buy and sell in the crypto space too. Its because crypto main goal is decentralisation. Its working towards it every day.
@@tarbybahbell4086 If the exchanges will not allow you to cash out your crypto, what does it matter if you can sell your BTC to some guy in Africa.
@@tarbybahbell4086 FTX and others have proven exchanges are the weakest link. Remove the exchanges. How is money moved to the buyer and from sellers. If he is across the world, you go with banks transfers? Now, your back where you started. I believe BTC is a US government program. I don't think they thought it would work. Once it caught on. They let it go without much interference. Think for a second. Why would the US and other governments relinquish power and control to the people. BTC in reality the illusion of decentralization. That's why no one talks about pitfalls of the exchanges.
Btw, I hold BTC.
I was bullish on crypto then i saw this guy.. I now agree with buffet, it has no purpose... Shorting
Thats not a bitcoin thing. Thats a blockchain thing. Details matter here
This dude needs to be in cell with FTX😊
Spot on. How many on here saying he is God have seen the quote where he says " anyone against Bitcoin is against Africa rising out of poverty" or " Bitcoin is a digital store of energy" How is it a store of energy? it is a total waste of energy.
It's very cool. But without layer 2 and 3 running on the base layer it will not scale beyond about 20 million users.
You know experts predicted the internet would collapse on itself by 1998?
Strike
I have no idea what he just said but I'm in
THIS is the BEST short explanation I have ever seen!!!
Can the Bitcoin network support 100 million transactions in a minute. How scalable is Bitcoin. How much volume can it take. Can it match a fraction of the transactions that go through swift.
Goooooo bitcoin ❤
Im waiting for the day that this super safe method gets hacked.
You'll be waiting a long time.Hackers have been throwing everything they've got at it for 15 years for the biggest potential payoff in world history. And yet, nobody has managed to break it.
15 years of waiting so far but keep waiting lmao
@@dc4632 - and there have been issues during that period.
Man i hope this bull run isnt cut short....
Erm, how would that happen?
Modern encryption that can be easily diffused by up and coming quantum computers. He who has the best machine will control it all.
Bullshit
I think he is Satoshi
satoshi prob ded his bitcoin address never move
hes not satoshi but we can tell he invest alot in bitcoin
The twist is. Satoshi is antichrist. He'll come and make everyone to bow down because he created BTC.
Interesting how he says "we"......👀
The almost infinite "sharding" of Bitcoin is going to become increasingly important. Groups of shardings might be able to support entire smaller nation's economies.
Fiat is pegged by the government's Speculation and central banks Propagation. In short, Block Chain Technology vs. Money Printing...
This is the smartest man in the world
Lots of people arrived at the same conclusion as him in 2020 myself included. Bitcoin is engineered money
Smart people does not mean they are good people.
It’s reversible, the world for scammers, better to use credit card, it’s reversible, money won’t be scammed!
Didn't some Bitcoin get stolen?
Btc gets stolen often. But the btc network has never been hacked. 2 different things bro
It gets stolen during the transferring, gotta watch out carefully on exchange platform
@@fernandosaldivar5135 What about the value overflow incident in the early days.
Yes it have been fixed, but let us be honest.
Crypto😂 tulipmania
yes it's just like tulipmania which lasted less than 3 years and was in one part of the world meanwhile bitcoin has gone from a market cap of 1 penny to 1.4 trillion dollars in 15 years and it's used worldwide
If you don't understand the difference between a tulip and a global decentralized network that runs 24/7 and is protected by the strongest cryptography...I just don't even know what to say.
How much electrical power does it take? And how much cash money does it take to pay for it?
Now imagine all the money transactions in the world(small and big 1$ to 1 tr$) being processed on all the computers is it feasible??
Who created it ?
Satoshi Nakamoto
It's too complex
For you
Selling you btc at 2.5x the market price
and so it has become a perfect vehicle for fraud, as evidenced on multiple occasions
what happens when a virus enters the software system? or when there's an electrical outage worldwide? what happens to crypto then? what's the backup for crypto?
A virus on every node world wide simultaneously at once? Also if theres a world wide electrical outage the us dollar and all world currencies will fail too lol
Yes a permanent electrical outage world wide would be a problem for Bitcoin but not the almighty federal reserve note lmal
Miners is always updating the network to make it secure. Miners earn gas fees more than mining crypto itself. Its always going as long as crypto transferring happen
The power could be off worldwide for 10 years & it just goes dormant. When a single computer running the network comes back online, it picks up where it left off & continues onwards. Why it's it's the hardest asset ever created by man.
How do you fool imagine that?
It's a concept relying on far too many vehicles that can very easily become crutches.😂
Sam Bankman-Fried has entered the chat.
So what you're saying is, there's millions of computers and they're all permanently wrong about who has how much bitcoin, because literally nothing updates instantly, least of all networked computers.
How do you imagine instant updates in a database distributed all over the world? Hopefully you don't work in the IT
My brain is just not wired to fully understand this.
Buy gold
How do i buy Bitcoin for 2010 prices in 2024?
Marry a bitcoin holder guy😂
Make a hard/soft fork...
The old man walked slowly.
So software has value. And the software stores it's own value and transactions. So if we put all the bank's ledgers on a single software. Will that have value ! Lol. BTC is the biggest digital day scam. Bigger than Fiat currency
Exactly
Did u get all that hackers?
If that's true how is it hacked???
Bitcoin has never been hacked, only exchanges if at all.
Bitcoin network has never been hacked you're being played
Bitcoin has never been hacked, EVER.
@@NoMoneyGNot true, there was issues in the early days.
What is blockchain
Imagine it as transferring data. You created a block( data/ crypto) and transferring it to the receiver.
Have you ever heard about Google or Wikipedia?
Yes. I get it.
So I am now offering rolls of toilet paper to the worlds investors for a price I have chosen. $100 per roll. Why? Because that's what I say and want it to be worth. And I also predict each roll will greatly increase. Why? Because I say it will. And thats the truth. So buy my toilet paper because you will be rich by paying what I say its worth. And yes everybody in the world will know all at the same time what each roll of toilet paper is worth. And it is safe and secure AS LONG AS YOU DON'T USE IT. THATS CALLED AN ASSET.
classic example of Bitcoin derangement syndrome
@@dc4632 The terminology is humorous. More power to anyone foolish enough to give it a try. I take risks too. Many. But when I cannot hold it, put it in a safe, look at it and it is in jeopardy of being stolen every single minute of everyday and night and most Governments refuse to recognize it because it does in fact exist on a Pyramid principle then too risky for me. I have a number of good friends that are into it. They believed in it. Now they have a loss of reality and can't figure out why no one will buy it. They want out. They need the American dollar back. They are missing real tangible investment opportunities that take the American dollar. And so all their hopes are on the magical thin air of crypto.
Personally I deal only in silver and real estate. Its real tangible and I can turn it very easily at any moment into American dollars. And I can borrow against it using as collateral for other investments.
Not crypto. Sorry. But I will say ALL CRIMINAL based organizations LOVE CRYPTO. It is simply the easiest way on earth to be invisible with millions and billions of dollars of movement.
And that is the very reason it will ultimately fail.
But more power to anyone that has the money to lose and or roll the dice with.
I do have one friend who bought in early on. And saw right off it was to have a short life. He flew to Saudi and found a high car dealer that took crypto. 20 to 1 ratio. He spent over twenty million in crypto to buy 3 Ferraris. Went back. Year later and they would only give a 30 to 1 ratio. But he still had enough to make a deal on Bugattis.
He is very happy brought all cars back to California and has zero crypto. But many millions of dollars of gorgeous high end cars that appreciate.
So he got lucky. Got out.
Good luck though. You know its the kiss of death when you have to split something in 1/2 and now even 1/10ths so people can be lured in to buy whatever piece they can afford. Just so the major holders can somehow get out and keep it alive.
Does Saylor have a node?
if i had to listen to that voice all day
I remember the last time yt started pumping BTC videos just before BTC crashed. Be safe out there.
if you zoom out BTC has never crashed
I will deal with cash. Only !
I still don’t understand what gives it value
It's a Ponzi scheme!
The scarcity.. Basically Supply and Demand…Bitcoin's value is influenced by several straightforward factors. It's limited in supply, similar to rare materials like gold, which means it can become more valuable when more people want it. Its attractiveness grows as more individuals and businesses choose to use and hold Bitcoin, especially since it operates independently of any central authority, making it appealing for those seeking financial autonomy. The convenience of sending and receiving money globally without intermediaries like banks enhances its practical value. Additionally, public perception plays a significant role; positive news can boost its value, while negative news can decrease it. Investment and speculative interest also drive its value, as people buy Bitcoin hoping its price will rise. Lastly, the safety and regulatory environment around Bitcoin can significantly impact its value; strong security and favorable regulations can boost confidence in it, while security issues or restrictive laws can harm its perceived value. Essentially, Bitcoin's worth is a blend of its utility, demand, scarcity, and the economic landscape in which it operates.
@Chipfoos419 also the bitcoin network uses energy electricity to generate coins proof of work consensus mechanism
Ask yourself what gives Gold its value?
Same shit with Bitcoin, it’s a digital asset that is limited. Anything that is limited and has millions of people interested will always be worth a ton of money.
@@Chipfoos419so it's like diamonds, if they put all the diamonds to the public, diamonds would be worth nothing.
It’s literally air.
Actually it is electricity, right 😂
Fishmarket without fish
limited thinking
luv it
it ain't money if you can't buy gas with it
Just takes about 5 seconds and 2 clicks
You can… in el salvadoor where its legal tender…
Read a bitcoin book and get educated…
By the time it becomes money u spend everyday the price will be over the millions and you can enjoi buying bitcoin at the price u deserve then 😂
Hey my name is Jimmy Jones would you like some Kool-Aid
😮An idea is very helpful but the execution consumes and drains energy and is harmful to the planet, so it is not as promising as it sounds.😊
So the world should've stopped using the Internet, stopped digging resources , centuries ago until now , human only take and take from the world. It can't be stop. So crypto has a bright future even though it uses the whole world energy.
Saylor understand everything
comedy
One day, there's going to be this coronal mass ejection....
only 21 millions coins per base... but an infinite number of bases. conjob.
If aim not have copy ( aim have unlimited BTC) 😢😂❤🎉😢😮😅😊
So it is like paper money, but instead of cutting some trees once for paper, each transaction consumes a half a metric ton of coal for electricity, got it.
I understand it but still dont trust it
I don't give a shit - either I am rich in a few years with it or just wealthy without it - 2% of my money won't change my life anyways
I am excited for the day 1 quantum computer wipes this out of existence
Enjoi the wait… the biggest quantum computer is 1,000 qbits.. it will take 1.3 million qbits to crack sha 256 and by the tume it gets close to it bitcoin will have upgrades to push that bak further too…
Soon quantum computing will uncryt it in matter of few minutes. That's when Bitcoin will zoom into zero value. Back to its origin. 😢😢
Nah. The Dev community with update the blockchain to support PQ Encryption. Companies are already employing these tools. Your IMessages are already Encrypted using PQ Encryption. Just a matter of software update and if not - itll hard-fork into a coin that can
Says who?
Beta Test Coin BTC
PONZI SCHEM
These goons are pushing it sooo hard...lmfao
Have fun being poor and controlled by the govenment all your life 🤙🏼
Loan > buy BTC > sell shares > repeat? 😎
When the power goes off your broke again
🤦🏼♂️🤦🏼♂️🤦🏼♂️ uneducated… you think the powers goinf of for ever?? And if it did u think bitcoin n money will matter to people at that point 🤦🏼♂️
You are the confirmation that humans are related to monkeys
Sa voix est particulièrement insupportable
Snake oil
Is this satire? If not then like the video said, it's just software. If you don't trust it, check the code and verify it
"Snake oil" just paid off my mortgage.
But what is backing it up?
An asset made made up of unicorn fart dust?
The king is wearing no clothes?
Nonsense
Bitcoin confuses boomers keep thinking pieces of paper with numbers on it has value and we'll see how it all turns out
It’s still worthless.
Man the price of worthless sure did go up with inflation. 😅😂🤣
Only rainbow lover says that btc is wortless
Cope
Fun fact about people who think its worthless: None have an IQ over 80.
LOL 🤣
😂basically there’s no Privacy a which was the reason for bitcoin in the first place. Liars conmen cheaters love it.
No one knows who owns the wallet address unless you tell them. The person making the transaction remains private, just the transaction amount and address doesn't. Sudo name Satoshi owns a million bitcoin, yet no one knows who he or she really is. That's great privacy
@@yehimstone5492 there’s a list of wallet holders on some exchanges, all your transactions are documented to that wallet. Buy something unusual pricey it’s going to ways to figure out who’s wallet it belongs to
Read the whitepaper. It's pseudo anonymous but yeah all coins could be tracked, Bitcoin was not made for untraceable money. A conman is a moron if they choose to use a money that is trackable(that's why 99% use dollars)
That is the same thing that was said about the internet when it first came out. No real use. Criminals, liars cheaters etc. This is said aobut every new technology. In the end the doubters adopt it like everything else.
Hard pass
LOL 😂
That's your right to exercise. Let us all know in 5 years how that pans out.
Until the power shuts down New viruses Corrupt file
Nonsense