welcome to the best of WatchMojo in this series we’re turning back the clock to
series we’re turning back the clock to
series we’re turning back the clock to show you some great early videos from
show you some great early videos from
show you some great early videos from the channel that you might have missed
the channel that you might have missed
the channel that you might have missed it’s time to put your money where your
it’s time to put your money where your
it’s time to put your money where your monitor is and while it doesn’t grow on
monitor is and while it doesn’t grow on
monitor is and while it doesn’t grow on trees it does grow in your hard drives
trees it does grow in your hard drives
trees it does grow in your hard drives welcome to watchmojo.com and today we’re
welcome to watchmojo.com and today we’re
welcome to watchmojo.com and today we’re counting down our picks for the top ten
counting down our picks for the top ten
counting down our picks for the top ten Bitcoin facts number 10 bitcoin basics
Bitcoin facts number 10 bitcoin basics
Bitcoin facts number 10 bitcoin basics otherwise referred to as electronic
otherwise referred to as electronic
otherwise referred to as electronic money or virtual currency bitcoin is a
money or virtual currency bitcoin is a
money or virtual currency bitcoin is a peer-to-peer payment system that offers
peer-to-peer payment system that offers
peer-to-peer payment system that offers a 21st century alternative to regular
a 21st century alternative to regular
a 21st century alternative to regular brick-and-mortar banking a bitcoin is
brick-and-mortar banking a bitcoin is
brick-and-mortar banking a bitcoin is something that most users will never see
something that most users will never see
something that most users will never see and never touch beyond their computer
and never touch beyond their computer
and never touch beyond their computer screens exchanges are made via wallets
screens exchanges are made via wallets
screens exchanges are made via wallets software rather than the traditional
software rather than the traditional
software rather than the traditional wallet in your back pocket and there
wallet in your back pocket and there
wallet in your back pocket and there exists no central bank or authority so
exists no central bank or authority so
exists no central bank or authority so the value of your bank balance is set
the value of your bank balance is set
the value of your bank balance is set entirely by the supply and demand of the
entirely by the supply and demand of the
entirely by the supply and demand of the market
market
market number 9 buying things with bitcoins as
number 9 buying things with bitcoins as
number 9 buying things with bitcoins as with all money it’s best if you’re able
with all money it’s best if you’re able
with all money it’s best if you’re able to spend it it’s been gradual but there
to spend it it’s been gradual but there
to spend it it’s been gradual but there are more and more commodities becoming
are more and more commodities becoming
are more and more commodities becoming available to Bitcoin holders perhaps the
available to Bitcoin holders perhaps the
available to Bitcoin holders perhaps the most high-profile acceptor of the
most high-profile acceptor of the
most high-profile acceptor of the currency is Virgin Galactic their
currency is Virgin Galactic their
currency is Virgin Galactic their upcoming space tourist flights are
upcoming space tourist flights are
upcoming space tourist flights are purchasable if you prefer your transport
purchasable if you prefer your transport
purchasable if you prefer your transport a little more traditional than
a little more traditional than
a little more traditional than Lamborghini is the first motor company
Lamborghini is the first motor company
Lamborghini is the first motor company to give the go-ahead and what car-stereo
to give the go-ahead and what car-stereo
to give the go-ahead and what car-stereo would be complete without Spice Girl Mel
would be complete without Spice Girl Mel
would be complete without Spice Girl Mel B she was the first musician to
B she was the first musician to
B she was the first musician to recognize payments for her music
recognize payments for her music
recognize payments for her music [Music]
[Music]
[Music] number eight the numbers the Bitcoin
number eight the numbers the Bitcoin
number eight the numbers the Bitcoin supply is finite production of bitcoins
supply is finite production of bitcoins
supply is finite production of bitcoins is romantically called mining with
is romantically called mining with
is romantically called mining with millions of dollars worth mined or
millions of dollars worth mined or
millions of dollars worth mined or exchanged electronically each day every
exchanged electronically each day every
exchanged electronically each day every Bitcoin transaction is verified using an
Bitcoin transaction is verified using an
Bitcoin transaction is verified using an extremely complex algorithm and these
extremely complex algorithm and these
extremely complex algorithm and these verifications are done by a large
verifications are done by a large
verifications are done by a large network of mining computers competing
network of mining computers competing
network of mining computers competing against each other when a miner
against each other when a miner
against each other when a miner successfully verifies a transaction he
successfully verifies a transaction he
successfully verifies a transaction he or she is rewarded with a small amount
or she is rewarded with a small amount
or she is rewarded with a small amount of bitcoins this is also how new
of bitcoins this is also how new
of bitcoins this is also how new bitcoins are introduced into the system
bitcoins are introduced into the system
bitcoins are introduced into the system and mining is a lot of work globally the
and mining is a lot of work globally the
and mining is a lot of work globally the network of mining computers is now over
network of mining computers is now over
network of mining computers is now over 250 times more powerful than the world’s
250 times more powerful than the world’s
250 times more powerful than the world’s top 500 supercomputers combined number 7
top 500 supercomputers combined number 7
top 500 supercomputers combined number 7 the value with no thing to hold in your
the value with no thing to hold in your
the value with no thing to hold in your hand the bitcoins value might seem
hand the bitcoins value might seem
hand the bitcoins value might seem indecipherable and as a new concept it
indecipherable and as a new concept it
indecipherable and as a new concept it does tend to fluctuate however in
does tend to fluctuate however in
does tend to fluctuate however in general the value seems to be increasing
general the value seems to be increasing
general the value seems to be increasing in November 2011 after a crash a Bitcoin
in November 2011 after a crash a Bitcoin
in November 2011 after a crash a Bitcoin was worth $2 u.s. in November 2013 a
was worth $2 u.s. in November 2013 a
was worth $2 u.s. in November 2013 a Bitcoin topped $1,000 US and value and
Bitcoin topped $1,000 US and value and
Bitcoin topped $1,000 US and value and briefly was worth more than an ounce of
briefly was worth more than an ounce of
briefly was worth more than an ounce of gold though its value has since fallen
gold though its value has since fallen
gold though its value has since fallen just imagine the level of security when
just imagine the level of security when
just imagine the level of security when the first Bitcoin cash machine opened in
the first Bitcoin cash machine opened in
the first Bitcoin cash machine opened in Vancouver Canada the previous month
Vancouver Canada the previous month
Vancouver Canada the previous month number 6 bitcoins and bankruptcy an old
number 6 bitcoins and bankruptcy an old
number 6 bitcoins and bankruptcy an old saying says you have to speculate to
saying says you have to speculate to
saying says you have to speculate to accumulate and there are speculators
accumulate and there are speculators
accumulate and there are speculators aplenty when it comes to Bitcoin while
aplenty when it comes to Bitcoin while
aplenty when it comes to Bitcoin while there are winners there are inevitably
there are winners there are inevitably
there are winners there are inevitably losers – in February 2014 Mount GOx the
losers – in February 2014 Mount GOx the
losers – in February 2014 Mount GOx the one-time largest Bitcoin exchange was
one-time largest Bitcoin exchange was
one-time largest Bitcoin exchange was forced to file for bankruptcy protection
forced to file for bankruptcy protection
forced to file for bankruptcy protection due to possible hacking theft or
due to possible hacking theft or
due to possible hacking theft or mishandling that cost them in excess of
mishandling that cost them in excess of
mishandling that cost them in excess of four hundred and fifty million dollars
four hundred and fifty million dollars
four hundred and fifty million dollars bitcoin is a currency that can lose up
bitcoin is a currency that can lose up
bitcoin is a currency that can lose up to 80 percent of its value in seconds so
to 80 percent of its value in seconds so
to 80 percent of its value in seconds so mount GOx was in very big trouble
mount GOx was in very big trouble
mount GOx was in very big trouble very quickly number 5 banning the
very quickly number 5 banning the
very quickly number 5 banning the bitcoin probably because it subverts the
bitcoin probably because it subverts the
bitcoin probably because it subverts the traditional banking system and works
traditional banking system and works
traditional banking system and works outside government regulation
outside government regulation
outside government regulation coin is outlawed in many countries
coin is outlawed in many countries
coin is outlawed in many countries around the world and is heavily frowned
around the world and is heavily frowned
around the world and is heavily frowned upon by many others in July 2013 Tylan
upon by many others in July 2013 Tylan
upon by many others in July 2013 Tylan became the first country to completely
became the first country to completely
became the first country to completely ban the currency though they later
ban the currency though they later
ban the currency though they later relaxed the ruling and China with its
relaxed the ruling and China with its
relaxed the ruling and China with its higher global profile banned banks from
higher global profile banned banks from
higher global profile banned banks from trading bitcoins
trading bitcoins
trading bitcoins in December of the same year the US
in December of the same year the US
in December of the same year the US Treasury has also flexed its monetary
Treasury has also flexed its monetary
Treasury has also flexed its monetary muscles by shutting down a physical
muscles by shutting down a physical
muscles by shutting down a physical Bitcoin production company in 2013
Bitcoin production company in 2013
Bitcoin production company in 2013 number 4
number 4
number 4 know your limits the number of bitcoins
know your limits the number of bitcoins
know your limits the number of bitcoins that can exist is limited to 21 million
that can exist is limited to 21 million
that can exist is limited to 21 million and the production rate is scheduled to
and the production rate is scheduled to
and the production rate is scheduled to be halved every four years to ensure
be halved every four years to ensure
be halved every four years to ensure that the value of a Bitcoin is not lost
that the value of a Bitcoin is not lost
that the value of a Bitcoin is not lost this means that supply will run out
this means that supply will run out
this means that supply will run out around 20 140 and although miners will
around 20 140 and although miners will
around 20 140 and although miners will no longer be rewarded with new bitcoins
no longer be rewarded with new bitcoins
no longer be rewarded with new bitcoins they will still be paid for their
they will still be paid for their
they will still be paid for their efforts through transaction fees as it
efforts through transaction fees as it
efforts through transaction fees as it stands today over a century before the
stands today over a century before the
stands today over a century before the deadline roughly 64 percent of bitcoins
deadline roughly 64 percent of bitcoins
deadline roughly 64 percent of bitcoins sit unused in their respective accounts
sit unused in their respective accounts
sit unused in their respective accounts appreciating and depreciating with time
appreciating and depreciating with time
appreciating and depreciating with time number 3 WikiLeaks the notorious
number 3 WikiLeaks the notorious
number 3 WikiLeaks the notorious organization WikiLeaks relies very
organization WikiLeaks relies very
organization WikiLeaks relies very heavily upon this futuristic form of
heavily upon this futuristic form of
heavily upon this futuristic form of finance in mid-2011 the nonprofit
finance in mid-2011 the nonprofit
finance in mid-2011 the nonprofit whistleblower group began using Bitcoin
whistleblower group began using Bitcoin
whistleblower group began using Bitcoin as a method of processing donations
as a method of processing donations
as a method of processing donations because other money transfer companies
because other money transfer companies
because other money transfer companies wouldn’t deal with them to become so
wouldn’t deal with them to become so
wouldn’t deal with them to become so dependent on something so unpredictable
dependent on something so unpredictable
dependent on something so unpredictable is perhaps not the wisest of moves but
is perhaps not the wisest of moves but
is perhaps not the wisest of moves but so far using the cryptocurrency hasn’t
so far using the cryptocurrency hasn’t
so far using the cryptocurrency hasn’t done a lot of harm to the media profile
done a lot of harm to the media profile
done a lot of harm to the media profile of Julian Assange and company watching
of Julian Assange and company watching
of Julian Assange and company watching the world change as a result of your
the world change as a result of your
the world change as a result of your work
priceless number two Silk Road the
priceless number two Silk Road the equally infamous Silk Road website used
equally infamous Silk Road website used
equally infamous Silk Road website used bitcoins as its form of currency a
bitcoins as its form of currency a
bitcoins as its form of currency a black-market trading site that
black-market trading site that
black-market trading site that specialized in illegal drugs and goods
specialized in illegal drugs and goods
specialized in illegal drugs and goods as well as some more reputable products
as well as some more reputable products
as well as some more reputable products it provided browsers with anonymity and
it provided browsers with anonymity and
it provided browsers with anonymity and made its money using bitcoins when
made its money using bitcoins when
made its money using bitcoins when alleged site founder Ross Ulbricht was
alleged site founder Ross Ulbricht was
alleged site founder Ross Ulbricht was arrested his estimated fortune was so
arrested his estimated fortune was so
arrested his estimated fortune was so inconceivable that it’s believed that
inconceivable that it’s believed that
inconceivable that it’s believed that well over half remains unaccounted for
well over half remains unaccounted for
well over half remains unaccounted for as a side note the name of all bricks
as a side note the name of all bricks
as a side note the name of all bricks alter-ego Dread Pirate Roberts was
alter-ego Dread Pirate Roberts was
alter-ego Dread Pirate Roberts was lifted from the movie The Princess Bride
lifted from the movie The Princess Bride
lifted from the movie The Princess Bride go figure
go figure
go figure before we unveil our top pick here are a
before we unveil our top pick here are a
before we unveil our top pick here are a few honorable mentions
number one bitcoin beginnings Satoshi
number one bitcoin beginnings Satoshi Nakamoto is the person or persons behind
Nakamoto is the person or persons behind
Nakamoto is the person or persons behind Bitcoin launching the software in 2009
Bitcoin launching the software in 2009
Bitcoin launching the software in 2009 Nakamoto past majority control on two
Nakamoto past majority control on two
Nakamoto past majority control on two scientists Gavin Andresen
scientists Gavin Andresen
scientists Gavin Andresen in late 2010 and and recent comments
in late 2010 and and recent comments
in late 2010 and and recent comments capture Bitcoin perfectly he says it’s
capture Bitcoin perfectly he says it’s
capture Bitcoin perfectly he says it’s like better gold than gold nakamoto’s
like better gold than gold nakamoto’s
like better gold than gold nakamoto’s believed to be in possession of 1
believed to be in possession of 1
believed to be in possession of 1 million bitcoins equivalent to 1.1
million bitcoins equivalent to 1.1
million bitcoins equivalent to 1.1 billion u.s. dollars but his name is
billion u.s. dollars but his name is
billion u.s. dollars but his name is probably a pseudonym the real identity
probably a pseudonym the real identity
probably a pseudonym the real identity of Satoshi Nakamoto is unknown it’s been
of Satoshi Nakamoto is unknown it’s been
of Satoshi Nakamoto is unknown it’s been suggested that electronics companies
suggested that electronics companies
suggested that electronics companies Samsung Toshiba Nakamichi and Motorola
Samsung Toshiba Nakamichi and Motorola
Samsung Toshiba Nakamichi and Motorola are the founders but there’s been no
are the founders but there’s been no
are the founders but there’s been no confirmation
confirmation
confirmation it’s a mystery for the modern world do
it’s a mystery for the modern world do
it’s a mystery for the modern world do you agree with our list which Bitcoin
you agree with our list which Bitcoin
you agree with our list which Bitcoin fact did we forget for more valuable top
fact did we forget for more valuable top
fact did we forget for more valuable top 10s published every day be sure to
10s published every day be sure to
10s published every day be sure to subscribe to watchmojo.com do you agree
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subscribe to watchmojo.com do you agree with our picks check out these other
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