Bitcoin Mining Explained



I own none of this Video (except the photos at the end) I simply put clips together to help people better understand Bitcoin Mining.

Come check out our channel its hilarious.

50 Comments

  1. This is great. I'm gonna show this video to all my friends who still ask me what a Bitcoin is.

  2. So you have to be a Super Elite with tons of cash to drop on 60,000 computers in a warehouse you also paid to have built for $250,000 to actually mine Bitcoin correctly… Got it. Oh well, back to the world of the "just enough" lol.

  3. What happens, when 21,000,000 is reached?

  4. the biggest BITCOIN operation in the world is inside FT.KNOX and is powered by the TVA (you really think they needed 75 hydro power plants for a population of less 500000-SMH)

  5. What would happen to the price of bitcoin when the final bitcoin is mined?

  6. Damn bitcoin flies up faster than gambling

  7. in my own understanding, miners = processing power. they are selling their processing power, company who needed a lot of processing power buy this, this will generate the money.

  8. Who creates the math problems to solve?

  9. There are trying to be their own central banking…without regulation…

  10. I think more GPU can render scene very fast. They can earn more money from scene rendering from file for any animated movie project or vfx part of any real movie. What you say, guys?

  11. Earn up to 0.05btc daily, no clicks, no adds, no investment, just a block chain wallet account needed. For more info DM;
    danielamato48@gmail.com

  12. The Jews must hate this… Next America's war. On bitcoin

  13. So now you have to pay more for overpriced GPUs you want only to play video games because these idiots think they will become billionaires with their fake money.

  14. Still don't really understand…

  15. Bitcoins.are not created. There is one amount and that's it. Ten years from now they'll be the same amount of bitcoin available but the price will go up for each. This is where the dollar made it's mistake. Print more it's worth less.

  16. So who is demanding this mathematical puzzles as you call it? Or are these just virtual servers, that get paid for their services? Virtual or non virtual currency, basic principles apply right, I mean one should be giving services, and the customer should be getting it and paying for it. My question is that who is paying for bitcoin processing machines?

  17. Still makes no sense. From where do you derive any value from the solving of a mathematical problem, no matter how complex? Or is some larger organization using the solutions for some nefarious purposes? I watched the whole video, and it just seems like a new form of banking….which inevitably will be regulated, controlled, or destroyed by some anonymous entity for their own purposes.

  18. This is ridiculous. Putting faith in something you can't hold in your hand. I have invested all my money in tulip bulbs. Now that's REAL security..

  19. What do you all think of mining using only renewable energy such as wind and solar?

  20. It's a flawed system with it's current rules of how it creates the bitcoins. If there will only be 21 millions bitcoins and it's a fact people have lost passwords to their wallets, if not lost the wallet itself, there will come a time when all the bitcoins could possibly be lost forever. If you can't recover lost wallets or create more bitcoins the currency eventually freezes or seize to exist.

  21. Like another guy said. What is the purpose of solving equations. And if the purpose is to create another currency why do you want to make millions? You just need bitcoin and not conventional trading systems? what have you purchased with bitcoin currency?

  22. I still dont get it. i r dum

  23. Would also be smart to invest in electricity companies, what value has any of this without electricity?

  24. so if either google or facebook wanted to they coud mine all of these bitcoin with their servers

  25. It seems to me like a ponzi scheme. Everybody will lose in the end and only the creator will cash in on real money.

  26. Why mathimatical equations? One you acquire it what do you use it for? Can you purchase matter with it or just more computers?

  27. just imagine if the power went out for a couple of days or weeks! what would become of this entire operation!

  28. While doing blockchain ledger updates (euphemistically referred to as "mining") who or what determines how many bitcoins you receive per transactions processed ?

    What will keep the network from collapsing when all bitcoins are in circulation and there is no longer any incentive to update the blockchain ?

  29. They crush the bones of bankers down into a powder, mix it with government tears, and then bake it with liberty.

  30. instead of buying expensive GPU , hardware and paying electricity this is the best. Bitcoin cloud mining, 10% daily profit free 100Gh/s hash rate. in 10 days you will get your investment back and earn more daily until bitcoin is not mineable .$10 minimum contract you and $2 minimum withdrawa1 watch my actual video of withdrawing $1000 live https://www.auroramine.com/?ref=333307.

  31. Does the calculation serve a useful purpose other than to be paid a bitcoin?

  32. Who give this complex mathematical equation?

  33. You spend lots of real money to earn fake money I don't get what's the point sounds like a scam

  34. 1 BitCoin pays $650 for October.
    Octobers Electric Bill $780

  35. Who could possibly complete against these guys??

  36. Crunchypuffs Gaming

    Song at 8:25?

  37. I bet the gpu manufacturers love this!

  38. still don't get how it works?

  39. Security is not the issue. Perception of value is the issue. It's only worth what people believe it's worth, but unlike the national currencies, it has no one to come to its rescue when it starts tanking.

  40. baladár kolompár

    És a sok faszagyú meg bedől ennek, veszik a sok videokártyát, használják a sok áramot, a végén meg kijön az egymillió dolláros villanyszámla, és viszik a gyíkot meg a házát és a kocsiját is. Ha ebből a szarságból egy centet is ki tudnának venni az emberek a kitalálóin kívül, akkor a fasz se dolgozna, vennék a gépeket meg az áramot hitelre, és akkor már abba bukna bele a dolog, hogy nem lenne mit venni a szaros bitcoinért, mert nem termelne senki semmit, vágesz?

  41. Oh good! Another scam.

  42. So, who buys bitcoin for real money? What can you do with it? To me it sounds like getting a high score in a video game, just bragging rights. Not trolling, I just don't understand why.

  43. Man, the problems that could be solved by the world's largest super computer. What a waste!

  44. who creates the bitcoin and how are they backed up by gold or what

  45. The ones doing millions from these clowns are the hardware sellers, LOL!!!

  46. What a video. Thank you 😊

  47. Cryptocurrency is the most secure online trading in the world… is a life changing platform in online investment…. you can make your research and believe me when l say l made $112000 in my first quarter…this is true life story, invest and make money with ease. Contact me tips :(donaldtradeagent@gmail.com)

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