FIN A N C E A N D C A PITA L MA R K ETS MON EY, B A N K IN G A N D C EN TR A L B A N K S
Bitcoin Bitcoin: What is it? Bitcoin: Overview Bitcoin: Cryptographic hash functions Bitcoin: Digital signatures Bitcoin: Transaction records Bitcoin: Proof of work
Studying for a test? Prepare with these 8 lessons on Money, banking and central banks.
See 8 lessons
Bitcoin: Transaction block chains EC ON OMIC S A N D FIN A N C E · FIN A N C E A N D C A PITA L MA R K ETS · MON EY, B A N K IN G A N D C EN TR A L
Bitcoin: The money supply Bitcoin: The security of transaction block chains
B A N K S · B ITC OIN
Bitcoin: What is it? About
Transcript
What is bitcoin? Created by Zulfikar Ramzan.
Google Classroom
Facebook
Twitter
Email
Ask a question...
Questions Tips & Thanks
Top Recent
Video transcript But what I wanted to do in this video is talk about what a bitcoin is in more general terms and what differentiating characteristics they have compared to other approaches. So for starters, bitcoin is just an electronic payment system. By electronic payment system, I mean it's just a vehicle, a conduit, by which two parties can transact over the internet. I call these parties Alice and Bob. And let's say Alice for whatever reason wants to give money to Bob over the internet. And this may be because she owes Bob money, or maybe Bob is a merchant and Alice is buying something from Bob. Or maybe Bob is a not-for-profit, and Alice is making a donation to Bob. So there could be many reasons why Alice is trying to pay Bob over the internet in some capacity. Now, if Bob is willing to accept bitcoins, which are a form of electronic payments, then Alice can go ahead and send Bob some value in bitcoins. And really, a bitcoin transaction between Alice and Bob
Video on YouTube Standard Youtube
Bitcoin: Overview
Our mission is to provide a free, world-class education to anyone, anywhere.
About News Impact
Khan Academy is a 501(c)(3) nonprofit organization. Donate or volunteer today!
