Bitcoin Course | Big Picture Basics 4.3 - Cryptography (pt1)

As we transition from the physical intricacies of the global network of mining hardware and the warmth they produce, we step into the limitless realm of cyberspace. This digital dimension houses a vast expanse of data, memories, videos, photos, and myriad digital transactions that move like whispers, effortlessly traversing the globe.

For Bitcoin, the journey began with a simple yet revolutionary premise: leveraging this vast domain to record and authenticate financial transactions.

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Financial Disclaimer:

This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.

Video Transcript:

[Music] crypto no cryptography crypto is a speculative world of investing in people cryptography is the hard mathematics that make Bitcoin the most secure network that has ever existed and so cryptography can be understood with a clear example of WhatsApp you send a message and when it receives to the other person they see a message but in the middle it’s being encrypted into a jumble of text and at the other end it’s decrypted back into the normal message that prevents other people from being able to read it interfere it because they can read it but they’re just going to read a jumble of text that they would have to spend a lot of compute power trying to decrypt and so the best example for use of cryptography in the Bitcoin world of things is sending a transaction think of transactions like a check a bank check you have who it’s from the wallet who you’re sending it to their public key and obviously the amount and maybe why you’ve sent it but the signature your signature that verifies that this is legit and it’s your money that you want to send that is encrypted with your private key and through that encryption you get that security on the network because what do you do you write your you sign your transaction you broadcast it to the network and all the different nodes they store that information and that is what allows the security of the Bitcoin Network to operate and we we’re all communicating all around the world being able to broadcast and send transactions freely because no one else can interfere with the validity of those [Music] transactions

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