Bitcoin Basics (Part 1) – “Explained For Beginners”

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Bitcoin Basics (Part 1) – “Explained For Beginners”

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Get Rocky’s free Bitcoin course here – https://chrisdunn.com/free-bitcoin-course

This Bitcoin basics video series will explain Bitcoin for beginners. You’ll learn how Bitcoin works, and how to make money with Bitcoin. Many people are looking to mine bitcoin or trading bitcoin for profits. As a professional trader, my goal is to help you learn how to understand the opportunities and risks with the crypto-currency markets.

Click here to subscribe to my channel – http://www.youtube.com/chrisdunntv

Check out my website for tips on how to build wealth, travel the world, and live an incredible life – http://www.chrisdunn.com/

By | 2017-06-07T16:51:35+00:00 June 7th, 2017|Cryptocurrency Trading|49 Comments

49 Comments

  1. Fa Korte June 7, 2017 at 4:52 pm - Reply

    Great video. Is this information still valid?

  2. Shyamu Pisupati June 7, 2017 at 4:54 pm - Reply

    It is very interesting and good to understand

  3. makhathini.co June 7, 2017 at 4:54 pm - Reply

    Can I get some help, I have stuck bitcoins on my electrum wallet which has been stuck since the 4th August 2016. Last time I tried to get them unstuck using method called double spending I managed to get those bitcoins stuck.

  4. everyday occurances June 7, 2017 at 4:56 pm - Reply

    Bitcoins are the future go here to buy, https://www.bitquick.Co?a=20652

  5. lord lord June 7, 2017 at 4:56 pm - Reply

    https://www.zarfund.com/ref/95545fbf58/register join this link now and stand a chance of becoming a millionaire . information rules the world

  6. james williams June 7, 2017 at 4:57 pm - Reply

    Is all of this applicable in 2017?

  7. lynn atkins June 7, 2017 at 4:58 pm - Reply

    What other crypto currency would you speculate with if Bitcoin dropped to much in price

  8. Kevin Doyle June 7, 2017 at 4:59 pm - Reply

    So many people are treating BitCoin like an investment when it was created to be a currency. If BitCoin market crashes many people (who didn’t do their BitCoin homework) may lose more than they bargained for.

  9. YouTubeSearch ToxicVaccines ToxicFluoride, HIV HOAX June 7, 2017 at 5:00 pm - Reply

    Great tutorial!!

  10. FACKING AWESOME June 7, 2017 at 5:00 pm - Reply

    any book suggested about the herd mentality or investments in general?

  11. Ryan Salas June 7, 2017 at 5:03 pm - Reply

    imgonna start trading and see if i can make a profit wish me luck

  12. Sam Sung June 7, 2017 at 5:04 pm - Reply

    Your explanations are the best ever! Thank you for posting this and creating this. This is what BTC needs to become mainstream. Getting a basic explanation is damn near impossible and daunting for your average person.

  13. nice guy June 7, 2017 at 5:06 pm - Reply

    Great Video! Bitcoin definitely gonna increase in value till 2020

  14. All Total Coaching June 7, 2017 at 5:06 pm - Reply

    Thank You so Much

  15. Hassan Hassan June 7, 2017 at 5:06 pm - Reply
  16. Ryan worrell June 7, 2017 at 5:07 pm - Reply

    This guy must be a happy camper now, the price for 1 bitcoin has skyrocketed…he was correct about everything he said

  17. Neal Lawson June 7, 2017 at 5:08 pm - Reply

    You have got to be loaded by now! lol Wish i was trading 4 years ago! Props to you!

  18. bountyonmyhead June 7, 2017 at 5:08 pm - Reply

    Definitely subscribed. Thanks for the video man.

  19. Antoinette Parker June 7, 2017 at 5:10 pm - Reply

    Very informative…looking forward to the rest of the training videos.

  20. Jesse Cortez June 7, 2017 at 5:11 pm - Reply

    yeah double spin but all you who preach bitcoins are more than double spinning the talk! What the heck is bitcoin really?

  21. Austin Onyeche Jr. June 7, 2017 at 5:13 pm - Reply

    The USD is tied to oil, hence the Petro- Dollar. Awesome video, thanks for posting.

  22. 4Kingc June 7, 2017 at 5:13 pm - Reply

    ‘If yur not furmilliur" JEEZ can you please take an enunciation class.

  23. Niqui Donye June 7, 2017 at 5:14 pm - Reply

    great video , I really understand so much more

  24. Ezedin Fedlu June 7, 2017 at 5:15 pm - Reply

    Hi, chris i was developing bitcoin transaction app in android. i just finished all the necessary things for the app but i got one problem actually it is not a problem it is something not understanding of bitcoin transaction from one user to another one. my question is how could i transfer bitcoin from one user to another in php. please help me Thank you

  25. Nishwan Tahir June 7, 2017 at 5:16 pm - Reply

    very well done, so nicely explained

  26. Loly Echairi June 7, 2017 at 5:18 pm - Reply

    Awesome!!

  27. Ethoz Kollizion Innertainment June 7, 2017 at 5:27 pm - Reply

    Your the man, I own a studio in San Diego, CA. Your videos are helping our business stay open, so I can keep helping disabled Veterans. Thank you.

  28. 51MontyPython June 7, 2017 at 5:27 pm - Reply

    Wait a sec, I though a "bubble" had to do with credit/debt, that is, of money that was inflated — in terms of represented value on bank sheets (i.e. digital money in a bank account that really doesn’t exist or not backed by actual hard cash (e.g. Reserve Notes) — beyond it’s actual backing or existence? So how can bit coin be a bubble? Is not the amount of actual bitcoins in existence always (necessarily) equal to that reflected, in that we always KNOW exactly how many are in existence?

    Or do you simply mean to say that it can be overly deflationary, _SUCH AS_ occurs in the event of a bubble burst?

    I mean, for example, with the fractional reserve, fiat banking system, a bank can loan the same dollar to more than one person at a time, so, if one person deposits a dollar in A bank, and A bank loans that same dollar to another person, while still holding it in their account, then technically, they’ve just created and added one "dollar" into the economy, even though only the initial one actually exists (in tangible form). The risk in this, obviously, is if both people come to withdraw that dollar out at the same time, without the bank already having enough (or enough having been added in the meantime) to cover both. In such a case, that ‘phony’ dollar would have to disappear, causing deflation. We would say that, the extra dollar created via the loan, in that case, was the debt bubble (in the form of a liability to the account holder(s)), which suddenly popped, given that you obviously can’t give it to both. Right?

    Now, since there are no bitcoin banks (or entities/individuals) loaning out more bitcoins than they actually have, how would a bubble be created?? I don’t understand this. What am I missing? I really want to understand this.

  29. juliotube1970 June 7, 2017 at 5:30 pm - Reply

    In a economy, in order to avoid the problems of the old days trade (good x good, or for example chickens for potatoes)gold and silver coins were created to simplified the transactions, with time and to further simplified this transactions the currency was created to represent that gold and silver…current currency represent a value in gold and other precious metals…so lets clear a couple of things out:
    1- There is not such a thing as "virtual cash" or "virtual gold"!!!! to say nothing about "decentralized digital currency"!!!….
    2- Therefore, how you can transfer "person to person" something that has NO EXISTENCE in the real world…?
    3- If it is no bank or government control, how this bitcoin is created or issued?
    4- If is free for control means i can create all the bitcoins i want…?
    I wouldn’t mess around with what i consider a highly complex scam that can take to you into a lot of trouble…mmmm

  30. A M Kent June 7, 2017 at 5:33 pm - Reply

    +Chris Dunn don’t take my question as a knock against you, but merely an inquiry. Before I start let me just say I appreciate you putting this video together, BIG Thumbs up!. Now for my question…. Since the US Dollar is no longer backed by Gold and Silver, what still gives it value and why do people still base the value of another currency, such as BTC, off of it? My thought and research has led me to the conclusion that the USD in its current form is back by the full-faith and credit of the US ability to pay. The US in essence is issuing out IOU’s and the collateral it’s placing up is our labor(in the form of taxes and debt that we attach to our selves). So it would stand to reason that we’re merely changing one form of government control currency for a decentralized, highly encrypted one. From where I stand that can be a good thing and potentially bad. Good in the way that you and I are our own Bank and we can now conduct transactions unilaterally in private without any government intervention. In other words in the private. The bad aspect was played out during the height of the Silk Roads website.

  31. Luc Nguyen June 7, 2017 at 5:33 pm - Reply

    Chrisdunn I love you man! Where have you been all my life?

  32. Queen Gina June 7, 2017 at 5:35 pm - Reply

    I loved your knowledge. I appreciate a leader that can speak without it being loaded with ummm’s and auhh’s. Clear straight forward knowledge. Do you do any mentoring. Id like to find you and reach out to you in hopes of that.

  33. John Wijnberg June 7, 2017 at 5:36 pm - Reply

    Thanks this was fantastic, first time didn’t fall asleep through one of these talks…very balanced presentation

  34. Custard the Cat June 7, 2017 at 5:36 pm - Reply

    Who decided that the number of bitcoins would be limited. Who set the limit ? What can’t it be increased.

  35. Caly P. Tratus June 7, 2017 at 5:36 pm - Reply

    Chris, in retrospect, would you agree that the price and projections 3 ears later, with a 14+ Billion market cap, more than half of the worlds currencies, has proven it to be quite viable for buy / hold ?

  36. JLC Driveway Ramps June 7, 2017 at 5:36 pm - Reply

    you make sense and communicate clearly. that proves you kniw your stuff.

  37. Samuel Vega June 7, 2017 at 5:37 pm - Reply

    about minute 4 of this video I suscribed to your channel very helpful information

  38. Gaurav Desai June 7, 2017 at 5:37 pm - Reply

    Excellent Video Chris! I’ve just recently gotten interested in Bitcoins and seen tons of videos but this one is as clear as it gets! Thanks. Keep up the great work!

  39. everyday occurances June 7, 2017 at 5:37 pm - Reply

    Bitcoins are the future go here to buy, https://www.bitquick.Co?a=20652

  40. Nastassia Ashbourne June 7, 2017 at 5:38 pm - Reply

    itโ€™s one thing to give someone a handout but to teach him
    someone how to make money on their own thatโ€™s essential. That way they will
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    for as low as 0.012 bitcoins

  41. B Donald June 7, 2017 at 5:39 pm - Reply

    Chris sorry if you’re already answered this but what software do you use to track bitcoin?
    Or if someone can tell me that’d be good.

  42. Sam Riggs June 7, 2017 at 5:40 pm - Reply

    What do you mean that there are room for improvements of the anonymous nature?

  43. Lori Favela June 7, 2017 at 5:40 pm - Reply

    thanks for this course, I wanna do my own trading

  44. Nicholas Basumatary June 7, 2017 at 5:40 pm - Reply

    i am looking into work on bitcoin but i am new in online works and i want suggestion about starting on bitcoin and proceeding into it. So can anyone guide me it would be very nice.

  45. Nastassia Ashbourne June 7, 2017 at 5:42 pm - Reply

    itโ€™s one thing to give someone a handout but to teach him
    someone how to make money on their own thatโ€™s essential. That way they will
    never bother you again. Let me show you how to create wealth by registering at https://www.crazebtc.com/ref/6d874f6a84/register for as low as 0.012 bitcoins

  46. Ra Burleso June 7, 2017 at 5:45 pm - Reply

    Future mark of the beast lol

  47. Jen's GamePlay June 7, 2017 at 5:46 pm - Reply

    yes its risky as fuck man, i tried something and bet $100 at first i get it up to $500+ and then after that i keep on trading but i failed horribly, i got my $50 back and withraw it instead of losing all the $100 and time i invested ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚ you need trading skills for this like very good trading skills man, this aint a joke because bitcoin trading could be very profitable in one minute but then fall back to mud the next minute, i was like wtf just happned?? ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

  48. bahhaziz June 7, 2017 at 5:47 pm - Reply

    if there is no bank or any other financial institution involved in the transaction of exchanging bitcoins between peers, so where that small fee goes and who collects it?

  49. Berzerk June 7, 2017 at 5:51 pm - Reply

    I heard something about you have to pat taxes evey year when you buy and sell cryptocurrency. Anyone able to explain that to me?
    Thank you

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