Add subtitles

- more FAQe
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Peter Šurda 9 months ago
parent c852512ec9
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  1. BIN
      00-intro.mp4
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      00-intro.vtt
  3. BIN
      01-analogies.mp4
  4. 79
      01-analogies.vtt
  5. BIN
      02-principles.mp4
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  7. 56
      03-faq.md
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00-intro.mp4 (Stored with Git LFS)

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WEBVTT
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Welcome to educational Bitcoin videos. The purpose of this course is to provide an introduction to Bitcoin. It is divided into three bigger
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parts, each consisting of three or four short videos. You can watch these videos easily when you have a bit of free time and rewatch them
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for better understanding.
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Part one is about the theory of Bitcoin. What it is or isn't, what you can do with it or can't do with it, and what you should or shouldn't
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do with it.
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Part two is about using Bitcoin on your mobile phone.
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Part three is about using Bitcoin with a secure device.

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01-analogies.mp4 (Stored with Git LFS)

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WEBVTT
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Part 1, Bitcoin analogies
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Bitcoin is special. While not exactly like anything that has existed before, it can be compared to things you already know by using
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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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Bitcoin is like digital gold
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Bitcoin is scarce. It is expensive to produce. It is highly divisible and uniform. It can be transported cheaply through space and time.
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For these reasons, people treat it as a hard asset and store wealth in it.
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Bitcoin is like digital money
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Bitcoin has only a digital representation. It doesn't have any particular physical form. Its integrity is maintained by cryptography and
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consuming a lot of electricity.
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Bitcoin is like the internet
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Bitcoin consists of many thousands computers, called, nodes, communicating together, using the same protocol. Anyone can connect, there are
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no technical restrictions to participate in the network.
01:24.060 --> 01:26.287
Bitcoin is like a central bank
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Bitcoin maintains a database that represents a ledger. This ledger records all the Bitcoin that were ever created and all the transactions
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that were ever made.
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Bitcoin is like an auditor
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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
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the ledger, such as creating new Bitcoins outside of the schedule, or transferring someone else's Bitcoins, the nodes will immediately
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notice it.
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Bitcoin is like the law
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The nodes aren't merely verifying, they are also enforcing. Invalid data is not just immediately spotted, it is also immediately rejected.
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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
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Unlike everything mentioned so far, Bitcoin is also decentralised. It is probably the most decentralised system we know. There is noone
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that can break the rules or change them.
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Bitcoin is a decentralized hard asset that can be used for storing wealth.

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02-principles.mp4 (Stored with Git LFS)

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WEBVTT
00:00.100 --> 00:06.017
Part 2, The five principles of Bitcoin.
What to do and what not to do.
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I collected five principles for everyone using Bitcoin, for beginners as well
as experts. You may recognise them as memes you've heard
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before. I chose memes
as they are easy to remember. There are more principles that are helpful,
however these five are the most important
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ones.
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1. Bitcoin, not crypto.
The vision of Bitcoin is to be the best money there can be. This is achieved
through focus on decentralisation.
00:38.912 --> 00:48.523
Without decentralization, someone could
change the rules, make more Bitcoins out of nothing, redistribute other
people's Bitcoins. All the
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other "cryptos" have a centralized team of people
who determine the rules. There have been attempts in the past to change the
rules of
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Bitcoin, and they failed. Changes in Bitcoin take many years to
succeed and are more like optimizations than rule changes.
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Several years after the Bitcoin started, other project types came in waves.
There was an altcoin phase, after that a DAOs phase, and now
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NFTs are
everywhere. Many of these are just scams. Some may have interesting
technological properties or have a narrow specialised uses.
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However, if you
want to spend money on them, you're just gambling.
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2. Not your keys, not your coins.
The Bitcoin balances are controlled by cryptographic signatures. This is what
Bitcoin, is, a collection
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of crypographic signatures. In order to transfer
Bitcoin, you need to perform this cryptographic signature and for that you need
to have
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piece of data called "private key". In other words, having the private
key, means, having Bitcoin. If you use a custodial service for
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handling your
Bitcoin, like a bank or another service provider, it's, they, that have
Bitcoins, not you. You're degrading your relationship
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with Bitcoin by relying
on others to take care of your Bitcoins for you. This is exactly the problem
that Bitcoin allows you to avoid. The
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custodian can make up all kinds of
excuses to deny you control of Bitcoins they hold for you. Many don't even
allow you to withdraw or send
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Bitcoins on your behalf. Even worse, they may run
away with them, or lose them.
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With Bitcoin, you can self-custody. This requires some learning and some
practice, but you can't get the full benefits without self-
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custody. You need to
keep your private key, private. Anyone who sees it can take your Bitcoins. If
you show it to somebody, they are gone.
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The private key needs to be protected
against thieves, but also against damage. If the private key is damaged and
it's the only copy, the
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Bitcoins are gone. Many people have suffered losses by
not taking proper care of their private keys, and probably many still will.
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In a later video, I will teach you how to properly self-custody.
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3. Stacking sats.
An easy way to get accustomed to Bitcoin is to accumulate Bitcoin
periodically for the long run, commonly known as
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"Dollar Cost Averaging". Pick
an amount that you feel comfortable with putting aside, such as a hundred
dollars a month. Then, every month,
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preferably on the same day, buy one hundred
dollars' worth of Bitcoin, or Satoshis (sats). Satoshi is the base unit of
Bitcoin. there are
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one hundred million Satoshis in one Bitcoin. People often
DCA once a month or once a week.
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The advantages of this approach are that it's repetitive, so you'll learn it by
practice. It's simple, so you don't need to perform a lot
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of mental work. It
doesn't depend on the market conditions, so you don't need to worry about
understanding them. It doesn't depend on
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having trading experience, so you
won't be influenced by psychology. It is working in small steps, so if you make
a mistake (and this can
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happen for beginners), your losses will be small.
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Don't daytrade, or suddenly put huge mounts of money into Bitcoin. You don't
understand how trading works, you'll lose money.
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4. HODL.
Selling your Bitcoins has a broad range of disadvantages.
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The price of Bitcoin often moves very quickly. Inexperienced people may panic
sell and make a loss.
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In many countries, selling can incur taxes. You may need to record your exact
trading history for accurate reporting. In extreme cases, you
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may still owe
taxes even if you make a financial loss!
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According to a recent news report, 69 year old Esther Freeman decided to sell
some of her Bitcoins. Her bank, however, refused to allow her
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to deposit the
900000 shekels from the sale, citing risks of money laundering and terror
financing. Mrs. Freeman had to sue the bank in the
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court. In the meantime, she
has 900000 virtual shekels she can't use, i.e., nothing.
05:44.700 --> 05:54.052
Don't end up like Mrs. Freeman. Try to avoid selling your Bitcoins, unless
there is an emergency. The most advanced way to avoid this is to
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take out a
loan, using Bitcoin as a collateral. There are specialised lending services, but
traditional banks are starting to provide such
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services as well. However, doing
this requires some level of financial experience, so I can't automatically
recommend it to everyone.
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Another option is just to do nothing. This is very easy.
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Supposing you really do have some emergency expenses, you could also try to pay
directly in Bitcoin, avoiding dealing with exchanges and
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banks. You could also
try to sell only the minimum necessary amount. Smaller amounts are less likely
to cause problems and losses are less
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painful.
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5. Don't trust, verify.
Even if you have a private key, that alone doesn't tell you how many Bitcoins
you have. For this you need to
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connect to a node and request information. But
the node could lie to you. If you don't know how many Bitcoins you have at each
moment, you
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can be a victim of fraud.
07:01.428 --> 07:07.224
Luckily, operating a node can be done cheaply. If you run a node, you have your
own auditor to make sure you're getting the correct
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information. It probably
isn't necessary that every single person runs one, but maybe you have a couple
of friends or family members that
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do.
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If you want to run your own node, you should have a dedicated computer for this
that can operate 24 7. It doesn't need to be an expensive
07:28.033 --> 07:36.449
computer, about 300
dollars is probably enough, but it should be energy efficient and have a
reliable internet connection.
07:39.180 --> 07:40.031
Summary.
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One, Bitcoin, not crypto.
Two, Not your keys, not your coins.
Three, Stacking sats.
Four, HODL.
Five, Don't trust, verify.

@ -32,7 +32,9 @@ Why won't something else replace Bitcoin?
In order for something to replace Bitcoin for saving, it would need to provide
similar and even better properties. While some "cryptos" appear to be scarce
and easy to transport, none of them have the level of decentralisation of
Bitcoin, and that means their rules could change when under attack.
Bitcoin, and that means their rules could change when under pressure. A focus
on decentralisation requires sacrifices in other aspects of the system, and
other projects are not willing to make these sacrifices.
The decentralisation of Bitcoin goes beyond the mere technical and
organisational. There is also a culture of decentralisation, which acts against
@ -40,14 +42,14 @@ attempts to centralise. There could be something else in the future which is
better than Bitcoin, but as time goes on it is less and less likely. It is less
likely now than it was five years ago, for example.
(pause: 1)
---
```md
# Why do I hear all the time about Bitcoins being stolen?
```
(pause: 1)
If Bitcoin is so secure, why are there so many reports about people losing
their money?
@ -61,14 +63,14 @@ know what they are doing, they left it in an unsecured computer, or their keys
got damaged beyond repair. It's similar to someone putting a massive lock on
their house door, but then leaving the lock open when leaving the house.
(pause: 1)
---
```md
# If Bitcoin consumes a lot of electricity, do I also have to do that?
```
(pause: 1)
If Bitcoin consumes a lot of electricity, do I have to worry about my
electricity bill?
@ -83,4 +85,48 @@ provide security for Bitcoin. In the meantime, mining is a business like any
other. Miners run in data centers and in special containers which can move to
wherever cheap energy is available.
---
```md
# What is blockchain?
```
(pause: 1)
What is Blockchain?
(pause: 1)
Blockchain is a special type of database for decentralised systems. The members
of a blockchain can be operated by different organisations, and don't need a
hierarchy of permissions. Bitcoin is a first practical example of a blockchain,
and some would argue the only one actually delivering on its promises. While
important for Bitcoin, it is not the only component necessary to achieve
decentralisation in practice. The use of a blockchain in systems which do not
need both high security and high decentralisation is a of dubious utility.
Traditional databases or distributed data stores may be a better fit for such
projects. Compared to them, a blockchain is slow and expensive.
---
```md
# Why do I have to wait for an hour for a transaction?
```
(pause: 1)
Why do I have to wait for an hour for a transaction?
(pause: 1)
Once you send or receive a bitcoin transaction, usually you have to wait for
about an hour for the transaction to "confirm". For the blockchain to do its
thing, about an hour needs to pass to ensure there is nothing fishy going on.
This is one tradeoffs Bitcoin provides for its high security. So how can you
then use Bitcoin for all kinds of payments if you have to wait for an hour? The
solution Bitcoin offers is scaling in layers. You can think of these layers as
different forms of Bitcoin. The first layer, which is what we have been talking
about so far, can be thought of as a settlement layer. On top of it, other
layers with different features are being built. One of the most popular ones is
the lightning network, which allows small instant payments.
(pause: 2)

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03-faq.mp4 (Stored with Git LFS)

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WEBVTT
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Part 3
Frequently asked questions
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Part 3, Frequently asked questions
00:06.819 --> 00:09.495
00:07.100 --> 00:09.775
Why won't something else replace Bitcoin?
00:10.694 --> 00:16.285
In order for something to replace Bitcoin for saving, it would need to
provide similar and even better properties. While some "cryptos" are
00:10.975 --> 00:17.427
In order for something to replace Bitcoin for saving, it would need to provide
similar and even better properties. While some "cryptos"
00:16.485 --> 00:22.075
also easy
to transport and scarce, none of them have the level of decentralisation of
Bitcoin, and that means their rules could change when
00:17.627 --> 00:24.079
appear to be scarce
and easy to transport, none of them have the level of decentralisation of
Bitcoin, and that means their rules could
00:22.275 --> 00:27.865
under attack.
00:24.279 --> 00:30.730
change when under pressure. A focus
on decentralisation requires sacrifices in other aspects of the system, and
other projects are not
00:28.066 --> 00:35.626
00:30.931 --> 00:37.383
willing to make these sacrifices.
00:37.583 --> 00:45.143
The decentralisation of Bitcoin goes beyond the mere technical and
organisational. There is also a culture of decentralisation, which acts
00:35.826 --> 00:43.385
00:45.343 --> 00:52.903
against
attempts to centralise. There could be something else in the future which is
better than Bitcoin, but as time goes on it is less
00:43.586 --> 00:51.145
00:53.103 --> 01:00.663
and less likely. It is less
likely now than it was five years ago, for example.
00:52.940 --> 00:58.291
01:02.420 --> 01:07.772
If Bitcoin is so secure, why are there so many reports about people losing
their money?
00:59.492 --> 01:07.877
In order to benefit from Bitcoin security, you need to follow the five
01:08.972 --> 01:17.357
In order to benefit from Bitcoin's security, you need to follow the five
principles of Bitcoin mentioned in an earlier video. Usually, when
01:08.077 --> 01:16.462
01:17.557 --> 01:25.942
you hear
about Bitcoins being stolen, the people involved violated principle number two:
not your keys, not your coins. They entrusted
01:16.662 --> 01:25.047
01:26.142 --> 01:34.527
their keys to someone who doesn't
know what they are doing, they left it in an unsecured computer, or their keys
got damaged beyond repair.
01:25.247 --> 01:33.633
01:34.727 --> 01:43.113
It's similar to someone putting a massive lock on
their house door, but then leaving the lock open when leaving the house.
01:35.380 --> 01:40.924
If Bitcoin consumes a lot of elecricity, do I have to worry about my
elecrticity bill?
01:44.859 --> 01:50.532
If Bitcoin consumes a lot of electricity, do I have to worry about my
electricity bill?
01:42.124 --> 01:50.539
01:51.731 --> 02:00.147
When Bitcoin was originally launched in early 2009, there was only one software
doing all the work. Gradually, specialised software
01:50.739 --> 01:59.154
02:00.347 --> 02:08.762
developed for the
individual activities involved in the network. The, nodes, verify the ledger
and enforce the rules. The, wallets, keep
01:59.354 --> 02:07.770
02:08.962 --> 02:17.378
your private keys secure and initiate
transfers on your behalf. And finally, miners, which consume elecricity and
provide security for
02:07.970 --> 02:16.385
02:17.578 --> 02:25.993
Bitcoin. In the meantime, mining is a business like any
other. Miners run in data centers and in special containers which can move to
02:16.585 --> 02:25.001
02:26.193 --> 02:34.609
wherever cheap energy is available.
02:36.339 --> 02:37.756
What is Blockchain?
02:38.956 --> 02:48.220
Blockchain is a special type of database for decentralised systems. The members
of a blockchain can be operated by different organisations,
02:48.420 --> 02:57.685
and don't need a
hierarchy of permissions. Bitcoin is a first practical example of a blockchain,
and some would argue the only one actually
02:57.885 --> 03:07.149
delivering on its promises. While
important for Bitcoin, it is not the only component necessary to achieve
decentralisation in practice.
03:07.349 --> 03:16.614
The use of a blockchain in systems which do not
need both high security and high decentralisation is a of dubious utility.
Traditional
03:16.814 --> 03:26.078
databases or distributed data stores may be a better fit for such
projects. Compared to them, a blockchain is slow and expensive.
03:27.819 --> 03:30.867
Why do I have to wait for an hour for a transaction?
03:32.067 --> 03:40.169
Once you send or receive a bitcoin transaction, usually you have to wait for
about an hour for the transaction to "confirm". For the
03:40.369 --> 03:48.470
blockchain to do its
thing, about an hour needs to pass to ensure there is nothing fishy going on.
This is one tradeoffs Bitcoin provides
03:48.670 --> 03:56.772
for its high security. So how can you
then use Bitcoin for all kinds of payments if you have to wait for an hour? The
solution Bitcoin
03:56.971 --> 04:05.073
offers is scaling in layers. You can think of these layers as
different forms of Bitcoin. The first layer, which is what we have been
04:05.273 --> 04:13.374
talking
about so far, can be thought of as a settlement layer. On top of it, other
layers with different features are being built. One of
04:13.574 --> 04:21.675
the most popular ones is
the lightning network, which allows small instant payments.

@ -1,43 +1,35 @@
<html><head><title>Educational Bitcoin videos</title></head>
<body>
<h1>
Bitcoin_educational_videos
Bitcoin educational videos
</h1>
Materials for bitcoin educational videos
<p/>
Part 0: Introduction
<p/>
<p>
<video width="1280" height="720" controls>
<source src="00-intro.mp4" type="video/mp4">
<track default src="00-intro.vtt" kind="captions" srclang="en" label="English">
</video>
</p>
<p/>
Part 1: Analogies
<p/>
<p>
<video width="1280" height="720" controls>
<source src="01-analogies.mp4" type="video/mp4">
<track default src="01-analogies.vtt" kind="captions" srclang="en" label="English">
</video>
</p>
<p/>
Part 2: Principles
<p/>
<p>
<video width="1280" height="720" controls>
<source src="02-principles.mp4" type="video/mp4">
<track default src="02-principles.vtt" kind="captions" srclang="en" label="English">
</video>
</p>
<p/>
Part 3: FAQ
<p/>
<p>
<video width="1280" height="720" controls>
<source src="03-faq.mp4" type="video/mp4">
<track default src="03-faq.vtt" kind="captions" srclang="en" label="English">
</video>
</p>
</body>
</html>

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