Bitcoin explained: How do cryptocurrencies work? – BBC News

Bitcoin explained: How do cryptocurrencies work? – BBC News

An estimated £3-4 billion is being laundered via cryptocurrencies in Europe every year, the director of Europol has told the BBC.
It comes as the Shadow Treasury Minister, Alison McGovern, says much speedier regulation is needed.
But what are cryptocurrencies? Spencer Kelly explains all.

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Satoshi Alpha says:

Informativo video esperamos más contenido y nos quedamos pendiente a su canal deveras gracias

Uschi Kandorozu says:

Wow ! I like your explanation and the way you have illustrated your explanation with those images !! Well done!

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polkadots bee says:

so if there is a disaster which happens more often lately power outrage is everywhere.with no access to internet whatsoever how are you going to use bitcoin to help you survive in times when you needed the most.

atheos says:

Wouldn't trust a dyslexic bank

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The Relaxation Channel says:

Great explanation video! Its pretty complicated to learn everything about cryptocurrency, but it helped me big time to join a community like, so I could ask questions to a bigger audience who all know something about crypto. Trying to figure it all out yourself just takes days and days

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Andrea Giovacchini says:

First problem: can I pay with bitcoin everywhere I can use cash or credit cards? Not at all, bitcoin is not accepted and that's simple to explain: let's say I pay a car 4 bitcoins, worth at payment 40000€, when the merchant exchanges from BTC to Euro these can be 45000€ but also 35000€, who will be so crazy to be the first accepting them (being able to use them nowhere) and taking the risk to give goods for free?

Second problem: now free bitcoins are "created" to pay for people authorizing transactions but what when last bitcoin has been "created"? Ops, no more to gain, I bet very miner will disappear and only some big will remain starting to ask the fees he wants for payments to survive, and everyone owning bitcoins will have to pay else authorization nodes will disappear and Bitcoin will be worth nothing, ehm… a bit worst than with credit cards and current banking system now…

Third problem: Bitcoin is not the "nightmare" of governments or banks, I bet it's the best dream: let's say (and I think it won't happen) that Bitcoin replaces currency in some state, then you can be sure that a fiscal code will be assigned to every legal wallet and so every transaction will be traced and the government with a simple query will know every detail about every transaction done by everyone

Fourth: let's say that blockchain is good and has a value as technology, and in fact is for many applications, that doesn't in any way mean that Bitcoin has any value as it is only an implementation of that technology.

Fifth: everyone speaks about bitcoin millionaires around the world, but as we know they have to change their money to "real" currencies to use them so they have to take a lot of care, because a lot of bitcoin offer will downprice it quickly so part of that richness will disappear if really used

And many other problems are there

Avik Sanyal says:

What about proof of work?!

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Sigit Prasetyo says:

The video doesn't show that the banks are actually cost you a lot of money

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i think BC will down

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