Bitcoin – Technical Explanation | Cryptocurrency Explained | Urdu/Hindi | My Channel Video

Bitcoin has been one of the most interesting currency of all times, when it plunged high recently. This gave rise to a lot of questions and specially what exactly is Bitcoin? how does it work? is it safe? is it scam? this video answers all those questions in one place with detailed analysis of Bitcoin specially cryptocurrency. Bitcoin is a digital currency which can be sent to any one, any where, any time without the need of Bank or central authority such as Money Exchanges i.e Western Union. The basics of cryptocurrency are 1) Bitcoin Network which makes distributed ledger there by removing the need of central bank and 2) Cryptography, which makes your transactions secure and anonymous.
it is done by announcing your account and receiver’s account and amount of money to everyone on earth and all the participants write in their ledgers as entry. which there by makes a block with multiple transactions. The block may show discrepancies because of internet connection speed and it registers difference in time in transactions which needs to be solved, which requires SHA256 algorithm to solve. This solving procedure is called mining where computer which solves the algorithm gets rewarded with bitcoin.

JP Morgan CEO said that people who are buying bitcoin are Stupid, Jordan Belfort also claimed that Bitcoin is scam, but we recently saw winklevoss brothers to become first Billionaires by Bitcoin!

Satoshi Nakamoto’s Original Paper
https://bitcoin.org/bitcoin.pdf

http://www.businessinsider.com/what-is-bitcoin-the-cryptocurrency-explained-2017-5

https://www.engadget.com/2015/01/21/cryptocurrency-explainer/

https://www.coindesk.com/bitcoin-explained-five-year-old/

https://www.youtube.com/watch?v=kubGCSj5y3k

Bitcoin – Technical Explanation | Cryptocurrency Explained | Urdu/Hindi | My Channel Video

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