HD Bitcoin Protocol Explained 1 - Bitcoin paper broken down step by step.

Bitcoin Protocol Explained 1 - Bitcoin paper broken down step by step.

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Bitcoin Protocol Paper Playlist: All Bitcoin Videos Playlist: In this video miniseries, the original Bitcoin paper is broken down. The paper is extremely condensed and is not very friendly to people who are not very familiar with the field. Since Bitcoin is for everyone, not just computer scientists and cryptologists, it is important than anyone can understand the basics of how Bitcoin and its protocol works as well as the problems it solves. It is my goal to help anyone confused about how the Bitcoin system works, and break it down so it can be understood by anyone. I may eventually cover mining as well specifically, but it is more important that most people understand the protocol and how it works as a system. The original paper: bitcoin.org/bitcoin.pdfBitcoin donations: 1GV7srgR4NJx4vrk7avCmmVQQrqmv87ty6
Hank Huang
After all the reading and googling, this is the first time I know what Bitcoin hash is. Great work and keep more of it coming!
nat sturg
What program are you using in this video, it looks awesome! Also, very informative, thanks!
Joe Astrahan
I love the tutorials so far! Very detailed, love the use of visuals.  I'm very interested in learning more about the Proof Of Stake Protocol in as much detail as you did with the Bitcoin paper going through for example PeerCoins paper.  Is this something you were thinking of doing? I'm actually a co-developer on a crypto-currency that uses Proof of Stake, but want to understand it in more detail first so I can learn how to improve upon the concept and/or modify it as necessary (For example, understanding what flaws there are? What good things there are about it? How it works on a technical level and its differences with BitCoin).  With this information I can add new features to the wallet that interact with the currency concept itself for things like 'donations', 'decentralized marketplace', 'trust-less escrow'.  Let me know if this is something you are planning to discuss for the future.  Thanks!
Thanks for uploading. Though, you shouldn't use the update() function. Hashing has entirely nothing to do with orders/ordering. Same inputs of sha256 hash functions deliver the exact same outputs. 

I am very tired atm, so if you need feedback ask me tomorrow ;-)
Kacper Wikieł
Hey — could you work for Khan Academy? You have talent and skills for education.
+Kacper Wikieł Thanks! I actually did submit to the latest #khanacademytalentsearch, but they turned me down.
Saket Mehta
Thanks! Helped a lot.
nick avlonitis
excellent vid, nicely and clearly explained. much thx for creating and posting, looking forward to the rest 10/4/2015
conor tighe.
When I try your code I get this error:

TypeError: Unicode-objects must be encoded before hashing

I've tried encoding it:

import hashlib

md5hash = hashlib.md5()

md5hash.update('My hash')


but still no luck
Roan Brand
Why should one execution of hash function change the value of a subsequent value of hash function? Shouldn't a hash function be designed so that it will ALWAYS produce the same output given the same input. Why is there a dependency on a previous execution of the function in the python code? Is this intentional or due to implementation of that particular python hash function?
Let's Find Out ASMR
Sentdex! Quality video, thanks a ton for this! I dont know how much time you spent on this but just wanted to show some appreciation for it. JUST enough to spark a deeper interest but not bogged down in a swamp of detail. Thanks
very good
Dex Hunter
Nice explanation. Thank you for efforts and sharing!!!

Not only did I learn about how bitcoin works, but a lot more including not limited to byzantine problem, hashing, etc. :)
Tilak Maddy
is this valid in 2017?
Zeping Liu
I am a Chinese, my English is not so good, and Computer Science is not my major, but I think I kind of get what you want to explain. Great work. I will watch the next video tomorrow. Thanks.
Shin Katsuki
wish i would have listens to this in 2014, i would have bought more btc, this video offers the most comprehensive explanation of how the core idea of how btc works, great job!