Part 1 video

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Peter Šurda 9 months ago
parent ff5c9a13f3
commit 4f128a0772
Signed by: PeterSurda
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01-analogies.mp4 filter=lfs diff=lfs merge=lfs -text

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---
background: ukulele-1 0.5 fade-in fade-out
voice: edward
voice: Brian
size: 720p
transition: crossfade 0.1
---
@ -14,6 +14,8 @@ Bitcoin analogies
# Part 1, Bitcoin analogies
(pause: 1)
Bitcoin is special. While not exactly like anything that has existed before, it can be compared to things you already know by using analogies. They aren't perfect. This video isn't about defining Bitcoin, but about making it a little bit more understandable.
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@ -26,8 +28,9 @@ Bitcoin is special. While not exactly like anything that has existed before, it
## Bitcoin is like digital gold
(pause: 0.3)
Bitcoin is scarce. It is expensive to produce. It is highly divisible and uniform. It can be transported cheaply through space and time. For these reasons people treat it as a hard asset and store wealth in it.
Bitcoin is scarce. It is expensive to produce. It is highly divisible and uniform. It can be transported cheaply through space and time. For these reasons, people treat it as a hard asset and store wealth in it.
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@ -39,7 +42,9 @@ Bitcoin is scarce. It is expensive to produce. It is highly divisible and unifor
## Bitcoin is like digital money
Bitcoin has only a digital representation. It doesn't have any particular physical form. Its integrity is maintained by cryptography.
(pause: 0.3)
Bitcoin has only a digital representation. It doesn't have any particular physical form. Its integrity is maintained by cryptography and consuming a lot of electricity.
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@ -51,7 +56,9 @@ Bitcoin has only a digital representation. It doesn't have any particular physic
## Bitcoin is like the internet
Bitcoin consists of many thousands computers, called *nodes*, communicating together, using the same protocol. Anyone can connect, there are no technical restrictions to participate in the network.
(pause: 0.3)
Bitcoin consists of many thousands computers, called, nodes, communicating together, using the same protocol. Anyone can connect, there are no technical restrictions to participate in the network.
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@ -63,6 +70,8 @@ Bitcoin consists of many thousands computers, called *nodes*, communicating toge
## Bitcoin is like a central bank
(pause: 0.3)
Bitcoin maintains a database that represents a ledger. This ledger records all the Bitcoin that were ever created and all the transactions that were ever made.
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## Bitcoin is like an auditor
The Bitcoin nodes are verifyng the ledger all the time. If someone tries to put invalid data into the ledger, the nodes will immediately notice it and see it as bad.
(pause: 0.3)
The Bitcoin nodes are verifyng the ledger all the time. They use transparent and neutral rules. If someone tries to sneak in bad data into the ledger, such as creating new Bitcoins outside of the schedule, or transferring someone else's Bitcoins, the nodes will immediately notice it.
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@ -87,7 +98,9 @@ The Bitcoin nodes are verifyng the ledger all the time. If someone tries to put
## Bitcoin is like the law
The nodes aren't merely verifying, they are also enforcing. Invalid data is not just immediately spotted, it is also immediately rejected. The Bitcoin network automatically rejects any record that doesn't follow the rules. What is written, that happens.
(pause: 0.3)
The nodes aren't merely verifying, they are also enforcing. Invalid data is not just immediately spotted, it is also immediately rejected. Any record that doesn't follow the rules will end up in trash. What is written, that happens.
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## Bitcoin is decentralised
Unlike everything mentioned so far, Bitcoin is also *decentralised*. It is the most decentralised system we know. There is noone that can break the rules or change them.
(pause: 0.3)
Unlike everything mentioned so far, Bitcoin is also decentralised. It is the most decentralised system we know. There is noone that can break the rules or change them.
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