Bitcoin: How Cryptocurrencies Work
Whether or not it's worth investing in, the math behind Bitcoin is an elegant solution to some complex problems. Hosted by: Michael Aranda Special Thanks: Dalton Hubble Learn more about...
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Say there’s a coin that’s currently worth hundreds of U.S. dollars, but it’s not madeof gold, or platinum, or any precious metal.In fact, it’s not the kind of coin you can hold in your hand or stick in a piggy bank.It’s a digital currency, which means it only exists electronically.I’m talking about bitcoin.Bitcoin doesn’t work like most money.It isn’t attached to a state or government, so it doesn’t have a central issuing authorityor regulatory body.Basically, that means there’s no organization deciding when to make more bitcoins, figuringout how many to produce, keeping track of where they are, or investigating fraud.So how does bitcoin work as a currency, or have any value at all?Well, bitcoin wouldn’t exist without a whole network of people and a li...
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Say there’s a coin that’s currently worth hundreds of U.S. dollars, but it’s not madeof gold, or platinum, or any precious metal.In fact, it’s not the kind of coin you can hold in your hand or stick in a piggy bank.It’s a digital currency, which means it only exists electronically.I’m talking about bitcoin.Bitcoin doesn’t work like most money.It isn’t attached to a state or government, so it doesn’t have a central issuing authorityor regulatory body.Basically, that means there’s no organization deciding when to make more bitcoins, figuringout how many to produce, keeping track of where they are, or investigating fraud.So how does bitcoin work as a currency, or have any value at all?Well, bitcoin wouldn’t exist without a whole network of people and a li...
