How Cryptocurrencies Actually Work: Bitcoin Explained

Confused about the world of cryptocurrency? You're not alone. What exactly is Bitcoin, and how does it actually work? Join Michael Aranda as he explains the benefits and dangers of crypto in a new episode of SciShow! Special Thanks: Dalton Hubble SciShow has a spinoff podcast! It's called SciShow Tangents. Check it out at http://www.scishowtangents.org ---------- Learn more about Cryptography: https://www.youtube.com/watch?v=-yFZGF8FHSg ---------- Support SciShow by becoming a patron on Patreon: https://www.patreon.com/scishow ---------- Dooblydoo thanks go to the following Patreon supporters—we couldn't make SciShow without them! Shout out to Bella Nash, Kevin Bealer, Mark Terrio-Cameron, Patrick Merrithew, Charles Southerland, Fatima Iqbal, Benny, Kyle Anderson, Tim Curwick, Will and Sonja Marple, Philippe von Bergen, Bryce Daifuku, Chris Peters, Patrick D. Ashmore, Charles George, Bader AlGhamdi ---------- Like SciShow? Want to help support us, and also get things to put on your walls, cover your torso and hold your liquids? Check out our awesome products over at DFTBA Records: http://dftba.com/scishow ---------- Looking for SciShow elsewhere on the internet? Facebook: http://www.facebook.com/scishow Twitter: http://www.twitter.com/scishow Tumblr: http://scishow.tumblr.com Instagram: http://instagram.com/thescishow ---------- Sources: https://bitinfocharts.com/ https://chrispacia.wordpress.com/2013/09/02/bitcoin-mining-explained-like-youre-five-part-2-mechanics/ https://www.youtube.com/watch?v=Lx9zgZCMqXE https://www.youtube.com/watch?v=nQZUi24TrdI https://bitcoin.org/en/how-it-works http://www.forbes.com/sites/investopedia/2013/08/01/how-bitcoin-works/#36bd8b2d25ee http://www.makeuseof.com/tag/how-does-bitcoin-work/ https://blockchain.info/charts/total-bitcoins https://en.bitcoin.it/wiki/Controlled_supply https://www.bitcoinmining.com/ http://bitamplify.com/mobile/?a=news Image Sources: https://commons.wikimedia.org/wiki/File:Cryptocurrency_Mining_Farm.jpg