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Bitcoin Basics (Part 1) - "Explained For Beginners"

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Get Rocky's free Bitcoin course here - https://chrisdunn.com/free-bitcoin-course This Bitcoin basics video series will explain Bitcoin for beginners. You'll learn how Bitcoin works, and how to make money with Bitcoin. Many people are looking to mine bitcoin or trading bitcoin for profits. As a professional trader, my goal is to help you learn how to understand the opportunities and risks with the crypto-currency markets. Click here to subscribe to my channel - http://www.youtube.com/chrisdunntv Check out my website for tips on how to build wealth, travel the world, and live an incredible life - http://www.chrisdunn.com/
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Text Comments (713)
Donna M. O'Connor (1 day ago)
I used kloviaclinks. com bitcoins option and in less than 48 hours, I got amazing bitcoins return in my wallet
M. Ali Montazer (4 days ago)
Very clear and informative. Highly recommend watching it.
Anthony Miles (8 days ago)
Dude, you have an excellent introduction to bitcoin and I'm very interested in bitcoin and I'm try to learn everything I can before purchasing some bitcoin's so I will follow everything you post and if I have questions can I please reach out to you?
Pauline Burnett (7 days ago)
Hello Miles, well i can assist you to trade and earn some really good profits daily. I trade with an amazing strategy that ensures i make good profits. I can send you my strategy if you're interested kindly email me: [email protected]
Vilma Vilmiene (10 days ago)
Bitcoint is swindel of the banks. If you transfer your money from one bank to another then your money will be transferred with a car from one bank to another. If you buy bitcoint your money remains in the bank. :)
Pauline Burnett (7 days ago)
Hello Vilma, do you trade?
Aragon Evy (12 days ago)
Chris your the first person that explained Bit coins to where I understand the concept. Thanks your presentation was done very well.
Pauline Burnett (5 days ago)
Hello Aragon, do yo trade?
Marcel Gordijn (12 days ago)
am i to late?
Pauline Burnett (7 days ago)
No you're not, are you interested in trading?
Kimberly Quintanilla (14 days ago)
These are the BEST and most understandable videos I have ever found! The analytical way you have compartmentalized each subject is great for beginners. I have gotten very frustrated listening to a lot of videos that really don't explain anything. Absolutely the the most informative videos as far as I'm concerned!!
Pauline Burnett (7 days ago)
Hello Kimberly, are you a trader?
Rodrigo Bittencourt (22 days ago)
I doubt you put Satoshi in my wallet. My dream is to have 1 Bitcoin. That's my wallet. I need an angel.\ 1MqJvwRMx5nWsy9fHWVAVL8hdEqGqyEt1w
Air hd tv (26 days ago)
In 3 years from now, the entire world will be saying, “remember all that crypto-currency scam, bubble nonsense? How was I so gullible?” People complain about criminal banksters running the baseless fiat monetary system. But at least the criminals have the laws and regulations, and a tax system, and a banking system on their side, and if all else fails, the fiat system is enforced by weapons. Whereas, crypto currency is backed by the slippery foundation of the GULLIBLE FOOL THEORY. What a fraud.
V J (27 days ago)
Bitcoin is worthless
Beason Curd (27 days ago)
Cryptocurrencies are going to become much more valuable, especially if you have the patience to see how well they perform.
Dick Chingas (1 month ago)
Btc is easy! You buy some then you watch the fuckers head south all the way to zero! Simple!
Doctor Mike (1 month ago)
Bitcoin trade
Pauline Burnett (7 days ago)
Hello Mike, do you trade?
BITCOIN Trading AZ (1 month ago)
Thank you for your course, Chris Dunn. Very details and easy understand. Subscribed!
Pal Abbz (1 month ago)
Java
Pal Abbz (1 month ago)
High
Elton Cena (1 month ago)
thanks bro
Pal Abbz (1 month ago)
What si bit con
Pauline Burnett (7 days ago)
Hello Pal Abbz, do you trade?
Soma Kholhrg (1 month ago)
Is this like another big bank.
Pauline Burnett (5 days ago)
well you be interested in trading and making some really amazing profits off your coins weekly?
Soma Kholhrg (7 days ago)
+Pauline Burnett never did before
Soma Kholhrg (7 days ago)
+Pauline Burnett never did before
Pauline Burnett (7 days ago)
Hello Soma, do you trade?
In Rabwah (1 month ago)
What's your opinion about onecoin?
Greg Connley (1 month ago)
great job Chris .thank you
Rocelyn Esparago (1 month ago)
This video is much help. My friend and I actually plan to buy bitcoin,but ofcourse we don't know both how does it work. 😉 Looking forward for more tutorial.
Rocelyn Esparago (1 month ago)
Andy Peterson Philippines
Andy Peterson (1 month ago)
Rocelyn Esparago Ok great you and your friend can both start earning big as there is a promo currently going on Which country are in currently?
Anita Atokoh (1 month ago)
Craig kelvin my Facebook
Unifii Crypto World (2 months ago)
nice short but informative video. I am trading Bitcoin with signals and result is awesome.
Empress Love (2 months ago)
0.00002642 so how much is this
Empress Love (4 days ago)
+Pauline Burnett I never did it b4 I now started mining
Pauline Burnett (7 days ago)
Hello Empress, do you trade?
Solowsh Army (2 months ago)
My concerns are the possibilities of hackers that can steal your bitcoins from your bitcoin wallet? I hear that might be a risk. Thank you.
Pauline Burnett (7 days ago)
Hello Solowsh, do you trade?
Chris Bell (1 month ago)
Hi Solowsh, there are a few ways to set up a wallet, some are safe and some are not as safe. Creating a wallet on a website is the least safe option because you're accessing everything online and someone could intercept your connection when you sign into the website. Also, someone could hack the centralized website and steal everyone's coins. Next, you have wallet applications which you can download in your Apple or Google store. They don't (shouldn't) ask for personal information, all they ask for is a password and they give you 12 words to remember. Then you can see your coins on your phone app, and if something happens to your phone you can get a new phone, download the app and use your 12 word password to access your coins again. Thirdly, there's a cold storage wallet that you can buy called a Ledger Nano or a KeepKey. You create a wallet in the same way without giving any personal info, then you can the little device in a safe place in your home. It connects to any computer with a cord and completely disconnects when you're done. This is the safest way to store your coins since no one can access your wallet while you're not plugged into the computer and while your certainly not on the internet. Hope that helps! Chris Bell
imran khan (2 months ago)
I will like to start bitcoin how are my to start thank you
Eric Faulkenberry (2 months ago)
Awesome video!
Eric Faulkenberry (7 days ago)
Hello Pauline, I am new at trading. I just started trading some on my own a few months back but I've had someone trading for me since around March. How about you? Nice to meet you btw.
Pauline Burnett (7 days ago)
Hello Eric, do you trade?
Sam Dameron (2 months ago)
Okay does that mean that the IRS can't tax you on bitcoin when you get a check from them?
Chris Bell (1 month ago)
Hi Sam, If you have $1,000 USD and use it to buy BTC, then your BTC grows in value, then you sell it for a total of $1,500 USD, it shows that you've profited. Your $500 USD profit is subject to tax from the IRS. However, if you buy BTC with $1,000 and it grows 10X to $10,000 but you never sell it back to USD, then you never have to pay tax on it. It's like watching the value of your home increase in which you won't pay tax on the profit until you sell. So, never sell and never pay taxes!
Beryl Kimpton (2 months ago)
PS - Please get to grips, which takes hard work, with your chosen regulated Exchange's 'Education Systems', using 'demos' with your chosen Exchange mentor, before driving onto the live trading platform highway without the right driving tools and knowledge. That's like driving a car with no controls, right?
Siva N (2 months ago)
Bitcoin value is reduce for coming days.
Andrew Paint (2 months ago)
There's a more profitable way to profit from bitcoin: build mining machines and sell them.
Beryl Kimpton (2 months ago)
Hi - I have just done a thorough search, like I am sure a great deal of people have, of all of the 'suggested' Exchanges 'Chris Dunn' mentions on Wiki that you can track with the websites he provides. Lol, they have all been hacked and still owe customers money, are hiding it (more than likely) , have "lost customer funds" (ha, ha) and or, are not coming forth when approached and the etcs, if not diving, or have already dived, into liquidation. Seriously, admit that unless a regulated system is in place - NOW - the only ones benefiting are who? You decide...LOL x. LostCoin might be a better title for this alleged area for potential gain.
Yadira Diaz (2 months ago)
If someone ask me for be a part on his miner and ask me for my password wallet but she say needs to be empty it’s this is right or is a spam fraud ?
Phil Towns (2 months ago)
i mine with Mr Logan shippy and i earn very profitably. He is the best teacher in cryptocurrency right now
Sara Loren (3 days ago)
+ice Queen from my blockchain btc wallet and directly to my bank.
Ice Queen (20 days ago)
+Sara Loren really that's good and how do you withdraw the money
belle soriano (2 months ago)
I'd go for EDUCATION TOKEN iI'm sure this will rise among other upcoming coins
Mc Taker (3 months ago)
I've come across a lot of negative press which misled a lot. to be sincere I invest purely on fundamentals and having a proper risk management system in place, as the entry point is key. my investment has grown consistently using a strategy that was developed by Headwayanalysis putting together experience and knowledge obtained from years of trading. I'm currently Using H.W.A PHOENIX CLOUD which has risk reduction.
Sikarepo Leko (3 months ago)
Thanks much,,so how to join if you don't have a computer and where will you buy the pools if you live at the rural area?
Peter Kamara (3 months ago)
I don't get this..'6.5 billion ppledon't have access to banking services!' yet I understand we are about 6 billion pple in the world! someone make me understand here!
Tia Ville (3 months ago)
Do you know if purchasing btc through a third party app is still anonymous? I would like to know..
churchill mutabes (3 months ago)
Dunn hi, you explain this bitcoin business very well,am in Africa ,kenya in particular ,if i was to join ;will i join in your company?if yes,how? ,then how much will i start with(money), kindly advice
AvatAds (3 months ago)
I am in bitcoin since 2012. And this is the most complete and comprehensive video explaining bitcoin. A+++
Bitcoin Bob Says (3 months ago)
Thank you, Chris. As always relevant and practical information. Is your course only for beginners? Thank you, Bob
Genevieve Araniador (3 months ago)
I have a question. I am a beginner now I didn't know much about bitcoin as a result now my account in bitcoin become negative in balance. Will I be able to recover from the negative balance? Can someone give me advice......
Sikarepo Leko (3 months ago)
This is really good to hear this, more interesting I need some more information about bitcoin?
Pauline Burnett (7 days ago)
Hello Leo, what will you like to know, I can send you all the information you need. Kindly email me: [email protected]
Andy Peterson (3 months ago)
Sikarepo Leko what more do you want to know?
Tj Roberts (3 months ago)
Not seeing this video in 2014 has kept me a poor man.
Pauline Burnett (7 days ago)
lol its not too late Tj Roberts, do you trade?
Shahzad Mansoor (3 months ago)
I watched this video over 10 times.
Josip Burjan (3 months ago)
BRAVO
churchill mutabes (3 months ago)
THIS IS A GREAT IDEA, WHO CAN LEAD ME INTO...IT...WHO? AND HOW
Pauline Burnett (7 days ago)
I can help you, kindly email me: [email protected] for more info
Darna Bedwell (3 months ago)
Although the video is dated its still good info. Thank you for making things more understandable. Glad I found your channel.
Goldn Messi (3 months ago)
SCAM = vague, unknown, more questions than answers, mystery, no guarrentee insurance or protection. Life is too short to gamble on a total unknown. As an American you guys should be glad that the $$DOLLAR$$ is the all mighty reserve currency and thank the USA gov for it. Don't be ungreatful dogs and talk down dollar. If you are so worried of currencies, just invest in real tangiable assets (house, business, properties) that creates income. No matter the unites of currencies, gold, bitcoin #@#, your assets' values will be in demand that will create INCOME, be it whatever units of currencies (income is the real undenialbe value of the time). And DON'T over think, too much thinking of problems, dooms day is a desease. Think positive, think good, and good happens. Class is dismissed, lol : )
sebastian harvey (4 months ago)
The video seems to be informative with nice idea ,but i have tried so many mining systerm ,even with the video i doesn't make any amount of Bitcoin rather i keep on loosing ,but you can give a try to Mr johns systerm to see how profitable it working for me now .you can contact him ([email protected])
John M Christopher (3 months ago)
I can show you how Bitcoin can work for you and can earn up to 10000$ per day.
Sean Napper (4 months ago)
Hi, Chris Just started watching some of your videos on youtube that you published in December 2013 which were great and easy to follow what you were talking about. What I would like to know have you're published any recent videos about Bitcoin as the market trade of Bitcoin has changed a lot since 2013 with the introduction of Auto Trading Software. I am trying to find out a bit more about Bitcoin trade so I don't make the same mistake I previously made with trading Stocks with fly by night stockbrokers that have vanished. Any help would be appreciated, Cheers Sean
Ivey Rey (4 months ago)
You did an amazing job explaining this 👍🏼👍🏼So I’m still i but confused And I still want to invest and make money ? Is it still ok too?
Pauline Burnett (7 days ago)
Yes its totally okay, what has got you confused? kindly email me: [email protected] I can help you with any trading related issues.
Andy Peterson (3 months ago)
Ivey Rey Yes of course you can invest as you want... I would advice you buy Bitcoin
Valentina Boshnyak (4 months ago)
Thank you so much for your video, it’s just great and clear explanation... keep post your videos !
Mark Green (4 months ago)
For investment this exchange is quite acceptable, HitBTC offers very favorable trading conditions. There is also an affiliate program for those who have no experience in trading.
Really appreciating the more advanced information you've all been providing recently.The only ICO I am keeping an eye on is SciDex. They are creating a new marketspace for scientific data. As an engineer I totally support and want them to succeed!
cassidra cheek (4 months ago)
Is it too late to get involved?
Pauline Burnett (7 days ago)
Hello Cassidra Cheek, not at all this is one of the best times to invest big and make some life changing profits daily. For more info on how to invest and make some amazing profits daily email me: [email protected]
Andy Peterson (3 months ago)
cassidra cheek No not at all The Door is always working open To new investors
CryptoLearnAU (4 months ago)
What is Bitcoin? It's a movement that will revolutionise our monetary system and solves the problems of paper and fiat currency.
Maria Mthethwa (5 months ago)
Thank you very good explanation
Tai Le (5 months ago)
No such thing as easy money all this shit is a scam
Joe Gambino (5 months ago)
Good series but seriously OUTDATED!
AVLRECORDS (5 months ago)
its not too late, 1 MILLION satoshi bitcoins is only about 60 euros atm *MEANS BITCOIN MILLIONAIR FOR CHEAP* its a matter of time before dollar collapse and bitcoin will rocket 1000x higher
Richard Lomakin (5 months ago)
Hi Chris, I`m new to Cryptocurrencies. Recently I came across RAINBOW Currency. They have this SAFEZONE and BLOCKCHAIN. Is this another Cryptocurrency following in the footsteps of Bitcoin? Looking forward to your comments.I appreciate your videos and your professionalism.
mrdave2112 (5 months ago)
Essentially, here is a scam and no one knows who started it. That is brilliant. How does he know that there is no central location governed by any country? Every person controls bitcoin? That right there tells you it is bull. If everyone controls bitcoin, any one person could instantly shut it down if they control it, right? I am done; this has scam written all over it. Scams do make people at the top tons of money; good luck.
Lacey (5 months ago)
YOU FUCKING MORONS !! WHY WOULD YOU PRETEND TO GO ON DRAGONS DEN WHEN YOU CLEARLY DID NOT. THIS IS A CON PEOPLE !!!!!!!
GideonSeedboy (5 months ago)
Though very encompassing, your lectures are so detailed. Oh My God, I have a lot more to gain From you PLEASE REMAIN MY MENTOR. I am heading a team of potential BITCOIN traders and with you we all ca be much more fruitful. Thanks
Maureen Eugene (5 months ago)
Good job you are really doing but have you heard of Education token (LEDU coin) and how they are paying their project creators in cash and in coin.
emnor koeng (5 months ago)
You should'nt show your face in the video the whole presentation, otherwise it will be an awesome video...
emnor koeng (5 months ago)
Really really awesome.. tq bro
Micheal Onesmo (6 months ago)
Can I also join bitcoin in Africa and how do I join?
Andy Peterson (3 months ago)
Micheal Onesmo Yes of course you can Where in Africa are you?
Eternal Blissed (6 months ago)
Excellent video! so clear and easy to understand.thank you
Rod Smith (6 months ago)
Chris Dunn, you are the MAN!!!!!!
Gerard Nitunga (6 months ago)
Bitcoin rocks the financial world
Gerard Nitunga (6 months ago)
Bitcoin rocks the financial worl
Aidan M-ova (7 months ago)
https://goo.gl/oHjFVp Profitable investments, guaranteed income in the short term, daily payments.
Refreshing Water (7 months ago)
Lmao only like 500 it’s like 8000 now
Andrea Marshall (7 months ago)
This Is a Foolproof, Detailed Driven System That Is Guaranteed To Make You Money CLICK THE LINK BELOW... http://6ad6abtaelk4g-dgis1djgp6q2.anyimage.io/4f4l
Dev19Feb (7 months ago)
https://simpleco.in/login?ref=6718
Justin Skariah (7 months ago)
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Rebecca Jones (7 months ago)
youre Awesome. So helpful! thank you
poojasethi1 (7 months ago)
you make it so simple to understand... no other video on bitcoin did this for me.. thank you for sharing
Jey orcel (7 months ago)
https://getcryptotab.com/8906
Pasi Kuikkanen (7 months ago)
Who sent sathoshi btc 1QBuJ2A2wVb1yEYWAteaM4zeCqfZJsNRLq
jose alves (7 months ago)
https://cointiply.com/r/Jap
najmar gmcks (7 months ago)
OK byee
najmar gmcks (7 months ago)
So give me your number
najmar gmcks (7 months ago)
I also learn the bitcoin so please guide me
Isaac Kendall (6 months ago)
najmar gmcks how are you? Have you started learning about bitcoins?
titi sosa (7 months ago)
minar bitcoin gratis,,, oportunidad- https://computta.com/?ref=237025
zolianu007 (7 months ago)
Can those bitcoins be redeemable for real dollar?
JonathanAnon (7 months ago)
Is that Michael Bublé?
Curtis Walton (7 months ago)
To be a true independent currency, doesn't Bitcoin need to be untethered from the Dollar? Right now people are using Bitcoin to earn more dollars. To be a currency, shouldn't I be using Bitcoin to earn more Bitcoin only?
precious treasure (7 months ago)
Thank u, explanation understood.
Frans Msibi (7 months ago)
should've seen this earlier.... i mean wow i feel like im already late.
Paul Son (7 months ago)
Scams
ZipSnipe (8 months ago)
Besides my question below let me add that no one figures in the A.I. element to BitCoin .Let me elaborate with some well known facts. The World Bank and the Federal Reserve would love to see the elimination of physical cash. Next we have BitCoin created out of thin air by the mysterious Satoshi Nakamoto. Bitcoin is hack proof.......well not exactly, so while Bitcoin grows so does the technology of known A.I. development grows also. Note keyword" known". A A.I. could hack Bitcoin, and a A.I. could have created Bitcoin. A Central Bank controlled A.I. could have created Bitcoin in an effort to rid the world of hard cash, something banks and government taxing agencies would love. Hell a A.I. most likely controls the Central Bank and all your conspiracy organizations that you can conjure. Now that being said I move very cautiously with Bitcoin investment, I for one do not want to see the removal of hard cash it would be the end of my business and many small businesses like mine. I do think Bitcoin is here to stay but would advise all to do thorough research and don't invest more money than you can throw away, in other words if you can't afford to lose a $1000 dollars than don't invest until you can.
Just A Seeker (8 months ago)
You absolutely have a valid point. It's all maintained by computers and technology is moving so fast it's hard to keep up. Right now computers are smarter than humans could ever hope to be. As it is right now the US could not even function without them. That kind of scary.
ZipSnipe (8 months ago)
First off great video and thank you for your knowledge. Question Why is there a limit on the amount of bitcoins that can be mined? What creates that limit and can it ever be changed?
Mike Campen (8 months ago)
I love you. I played a mmorpg when I was a teenager where I absolutely feel in love with what was referred to as "merchanting". I was able to become one of the most richest and powerful person in the game quickly due to these same exact simple tactics. No body could understand how I could become rich so fast which boggled my mind because all I would is would watch the market group people into categories (like rich poor average) then do the opposite of what everyone else did. I loved studying the people and trying to predict what they would do in the near future. Then doing it while they are doing something else. So then I can sell those items once they inflate. Eventually I got so rich I could completely inflate or deflate the market haha. I loved it. I finally found my purpose in life and what I want to do.
Indrajeet Khandait (8 months ago)
you were so right chris..Respect
buttegowda (8 months ago)
Thanks a bitcoin for educating on this

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The miners are interested in finding a nonce which will create a hash with certain characteristics. Lastly, they have to find a random value that they included in the header, which makes the computed hash over that header a value below a particular target. In other words, they do not have to agree to change the protocol. Though there are a few gold diggers attempting to fill their pockets and certain projects that aren`t viable and shouldn`t be encouraged in any way. For users running a complete node, it is a fairly painless procedure to upgrade the software to the newest version. The process of locating a new block to extend the blockchain is known as mining. Proof-of-Work systems utilize cryptographic hashing algorithms to create the action of mining a block a complicated computation. Our software is totally incompatible with altcoins. Changes and modifications to how that it works need to be approved by consensus and every CPU gets a vote. To start with, it`s essential to realize that hardware wallet users control entirely their private keys. Whether you`re bullish or bearish on Bitcoin Gold, you ought not lose your coins as a result of careless mistakes! On the 1 hand, it may result in making a coin that solves all the pending issues. There`s no currency or digital asset named Bitcoin Core. Bitcoin Cash increases the range of transactions that may be processed per block. You could send any quantity of money, any place in the Earth, almost at no cost. You`ve made some great money already on the market, but you want more. For a wealthy individual, BTC`s price premium may be viewed as a plus. For someone without lots of money, BCH`s low price may look like a great deal for Bitcoin. If you have some concerns about the worth of Bitcoin after all forks, you need to be ready for a drop. The distinction is that not all of these suffer the chain split. The primary problem is Bitcoin imposes a hard limit on the magnitude of a block, the location where transaction information becomes stored. The end result is many straightforward wallets, called SPV wallets and very commonly found on your phone, will be quite confused about which chain is Bitcoin. In Bitcoin, the most important reason is known as the network effect.