What is The History of Bitcoin: Super Easy Explanation

 - [Narrator] We'll start at the very beginning by understanding the history of blockchain. The very first blockchain in the world was Bitcoin. An anonymous person or group known as Satoshi Nakamoto published a document in an online cryptography forum in November 2008, and revealed the first details of how Bitcoin would work, describing it as a peer-to-peer electronic cash system. The whitepaper is available today at bitcoin.org/bitcoin.pdf. It allows any two people to pseudonymously send money to each other no matter where they are in the world. It is a borderless currency. The main benefit of Bitcoin is that it does not require any centralized authority or institution to operate. This is in contrast to today's centralized financial systems that depend on the existence of a central bank or government to mint money. If for any reason the central authority were to shut down, the money would become worthless. In a decentralized system like Bitcoin, there is no central authority and the system can continue to operate as long as there are members in its peer-to-peer network. The goal of the whitepaper was to describe how the different parts of the Bitcoin protocol would operate and be kept secure. A new type of database called a blockchain would keep track of a single history of all bitcoin transactions and it will be maintained by everyone in the network. The database would be publicly available for anyone to view and inspect and anyone can download a copy of this database. This provides data redundancy and makes sure the data is never lost but also provides a way for anyone to verify the transactions in the database themselves. A block in the database just stores a sequence of transactions, and a sequence of blocks is called a blockchain. Each block is identified by an incrementing number and a unique SHA256 hash. The hash for a block is calculated using the transactions inside of it as well as the previous block's hash, which forms a chain of hashes. The data in the blocks is secured using a cryptographic algorithm called proof-of-work, which also keeps all members of the network and the database in sync to prevent double-spending. In this context, preventing double-spending means preventing anyone from spending money they don't have. Proof-of-work is used to generate new blocks for the database, also known as mining, and the reward for mining a new block is given to the miner by creating new Bitcoins in the system. This is the only way new Bitcoins can be created. Anyone on the network can be a miner and a new block is mined roughly every 10 minutes which includes the latest set of verified transactions. The first release for Bitcoin was version 0.1, written in C++ by Satoshi and published on SourceForge in January 2009 under the open-source MIT license. Anyone could download the source code and run it to join the network also known as becoming a node in the network. This is the original version 0.1 source code written by Satoshi. We can see the hard-coded genesis block which is the very first block in the chain. The hash for the block can be verified by using any Bitcoin blockchain explorer. Let's copy and paste this hash into the blockchain explorer available at blockchain.info. We can see that this hash is for Block #0 and that it has only one transaction in it which is the mining reward, and the reward amount of 50 Bitcoin was given to this Bitcoin address. We can also see this 50 Bitcoin reward for the genesis block in the original source code. The genesis block is a special case needed to start the blockchain and is the only block that is hard-coded whereas every subsequent block is calculated using proof-of-work. Satoshi's motivation for creating Bitcoin is revealed in the piece of data he included in the genesis block. A newspaper headline from The Times that read Chancellor on the Brink of Second Bailout for Banks. The date of the newspaper is proof that the genesis block was created on or after January 3rd, 2009. Satoshi developed the source code mostly himself up until mid-2010 when he handed it off to the open-source community. It is now maintained under the project called Bitcoin Core. The software is currently at version 0.15.1 and is available for download at Bitcoin.org. This is still the most popular Bitcoin client today and is estimated that there are over 10,000 nodes running the Bitcoin network using various clients. Satoshi disappeared from public view in late 2010, his identity still unknown to this day. The only way someone could prove that they're Satoshi is by using the same encryption keys he used when posting the original whitepaper in the online cryptography forum. To send a Bitcoin transaction, you first need to have a Bitcoin account. An account can be created very easily by generating a cryptographic key pair which generates a public key and a private key. A hash of the public key is used as your account address and your private key is kept secret to prove that you have ownership of this account. In order to send any Bitcoin, you first need to get some from someone else. This could be a friend you know, or an online exchange you trust. To send a Bitcoin from your account, you would broadcast a message to the Bitcoin network that included the amount and the destination account. Before broadcasting, you would sign the message using your private key to prove that you are authorized to make this transaction for the account. Your transaction would be broadcasted to the Bitcoin network nodes including the miners who verify that it is correctly formatted. The nodes distribute all broadcasted transactions and blocks to each other in the network creating a shared database of blocks and transactions. When a transaction is first received by the network, it is considered unconfirmed. After the transaction is included in a new block by a miner, the transaction is considered final and confirmed. The more blocks that exists after your transaction's block, the more secure your transaction is considered to be, this is because a certain amount of computation power is required by the network miners to create each block. Miners do this using the proof-of-work algorithm to calculate the next block's hash, which is a computationally expensive problem that takes about 10 minutes to solve. To modify the transactions in the blockchain history, you would have to control the majority of computation power on the network, in other words, 51% of the computation power. So as long as honest nodes control more computation power than any other group of attacking nodes, the database will remain secure. For all of Bitcoin's popularity, it still has scaling hurdles to overcome. The current throughput of the Bitcoin network is less than seven transactions per second. Contrast this with Visa which processes several thousand transactions per second. The reason for Bitcoin's scaling problem is the block size limit which is currently one megabyte. This puts a limit on the maximum number of transactions that can be included in a one megabyte block, which can drive up transaction fees and delay verification times during peak network activity. Issues like this have prevented mass adoption of Bitcoin as a practical currency you could use for everyday purchases but that hasn't stopped some people from doing so. In July 2017, an improvement proposal called Segwit was deployed to the Bitcoin blockchain aimed at tackling these scaling issues. In a nutshell, Segwit allows fitting more transactions into a block and also enables another near-future scaling solution called the Lightning Network. Other proposals of improving the network include doubling the block size limit to two megabytes but changes like these must be agreed upon by a majority of miners on the network. A miner's computation power is the amount of weight their vote is given when considering changes to the Bitcoin protocol. Bitcoin is actually two experiments combined into one. The first part of the experiment is this new type of cryptographically secured database called a blockchain. And the second part of the experiment is a money application built on top of the blockchain called Bitcoin. While most people focused on Bitcoin and its price, a few people understood that the real innovation here was the underlying blockchain database. They began to wonder what other applications aside from Bitcoin could be built on top of this new type of database. A generalized blockchain can be described as a peer-to-peer network that maintains some shared state. In the case of Bitcoin, the shared state is the sequence of transactions. But the data can be really anything you want. The data is stored in a singly linked-list data structure. A block can only be added to the end of the list and cannot be modified after being added to the list. Each block also points to the block that came before it. The only exception to this rule is the genesis block which does not point to any other block. Hashing is used to guarantee the integrity of the data stored in the blocks, meaning that once data is added to the blockchain, it can never be modified, if the data is modified, the hash of the block would change, as well as the hash of any subsequent block so tampering can be caught easily.The rules for creating a new block are called a consensus protocol and usually defines a reward for creating blocks to incentivize people to do so. For Bitcoin, the consensus protocol is called proof-of-work. Following Bitcoin's release, several spin-off projects were created that took the Bitcoin source code and modified it for their own use cases like Namecoin and Litecoin. The question they were trying to answer was if a digital token could be used to represent some monetary value like Bitcoin, what else could a digital token be used to represent? Could it be used to represent other things of value like property or domain names? All of the spinoff projects had one major problem, they had to start their own blockchain for their particular use case. This is no easy task as a blockchain requires a fairly large community of peers to maintain and be useful. The existing Bitcoin blockchain couldn't be used because it was not designed to support a variety of different use cases. If there's somehow were to exist a single blockchain that was designed to be generalized enough for anyone's use case, it would help a lot more people start blockchain projects. This was the key insight that led to one of the biggest blockchain innovation since Bitcoin, which is Ethereum. To learn more about building blockchain applications, check out our online guides and courses available at Blockgeeks.com.

Confidence and Fear

 

Make Your Impossible Dreams Come True!

 

How Did YouTube Start?

 

 you are working cold fusion PD  hi to gogo here and welcome to another ColdFusion video in my living memory whenever you wanted to watch a video it had to be on VCR and then later came the DVD player and then we moved over to cable networks and now there's YouTube but only just 25 years ago streaming videos over the Internet was pretty much the stuff of science fiction the YouTube phenomenon in of itself has only been around for 10 years and already has definitely changed the world the sheer size and influence of YouTube is truly mind-boggling in this video we'll take a look at exactly how this platform rose to prominence and just how big it is so first of all the size the 7 billion hours of video watched every month also it will take you four straight days of watching just to view the amount of video uploaded every 60 seconds but surprisingly 80 percent of all YouTube views are outside of the United States of America in terms of size on the web YouTube is the third most visited site on the Internet and the second largest search engine on the internet so this gives you a very quick glimpse into how big YouTube actually is right now but where did all this come from and how did this happen well let me tell you a little story in one way it all starts with Elon Musk

yes that guy that is planning to send                                                     people to Mars and already has his own space company and the same guy who created the all-electric car company Tesla as impressive as this was prior to all of this Elon Musk also co-founder a website called PayPal and as it turns out three employees of PayPal would go on to change the world their names are Chad Hurley Steve Chen and jawed Karim after their days at PayPal they were interested in creating a video dating website called TuneIn hookup it was a site where people could upload videos of themselves in order to find dates and as you could guess it didn't really work all too low as most people weren't really interested in the idea but as it so often happens with these things serendipity would strike one day jared happened to notice how hard it was to find a video of Janet Jackson's wardrobe malfunction anywhere on the Internet this sparked an idea and the lack of James wardrobe malfunction was realized as a market need and the solution to this need would change the world they just needed the right formula and the perfect formula was found within the existing video sharing site TuneIn hookup whose name was later changed to YouTube the website was founded on February 14th 2005 in a humble room above a pizza shop in California the first video was titled me at the zoo and it was by Jared Karim uploaded on April 3rd 2005 wasn't long before YouTube had his first 1 million hit video this happened in September 2005 and it was actually a Nike app this ad featured the Brazilian player Ronaldinho and it made Nike one of the first companies to embrace YouTube's promotional potential by November 2005 the site had already received 3.5 million dollars in finisher capital in June of 2006 NBC and YouTube struck a deal this helped the traditional media company into the digital age after this it wasn't long before the site caught the attention of Google and in October 2006 the site was  acquired for a cool 1.65 billion dollars with the co-founders of the site and we just wanted to say thank you today we have some exciting news for you we've been acquired by Google thanks thanks to every one of you guys that have been contributing to YouTube the community we would be wouldn't be anywhere close to where we are without the help of this community thank at the time Google called it the next step in the evolution of the internet it was a pretty bold thing to say at the time because the company only had 65 employees things just kept going from strength to strength for YouTube and that year YouTube was one of the fastest growing sites on the entire Internet there's obviously something special here this was really just the beginning the site was about to become a so personal for many individuals around the world in May 2007 the YouTube Partner Program came into the picture this personally changed the lives of many people for the first time YouTube made it possible for everyday people to turn their hobbies into a business about a year later the most successful userswere earning six-figure incomes from YouTube in the same year 7 out of the 16 presidential candidates announced their campaigns via YouTube and in July YouTube and CNN hosted their first presidential debate featuring citizens submitted video questions this was also the first time into bait history where user-generated video drove the debate for some reason this somewhat reminds me of the first televised presidential debate between Nixon and Kennedy in 1960 at the time many said that if it wasn't for the televised session Kennedy would have never been elected so the question is did YouTube actually play a part in history this time continuing with the story in August of 2007 Google finally decided it was time to start making money and rolled out the first advertisements after this it wasn't long before YouTube truly became mainstream in 2009 Congress and the Vaticann launched their YouTube channels and by 2011 features such as YouTube's live streaming allowed real-time footage of anything from rural wedding to the Olympics to live concerts on news coverage in the same year it became clear that YouTube could do even bigger things it could influence world history during the 2011 Arab Spring YouTube played an instrumental role in disseminating messages of freedom and democracy it demonstrated the major cultural movements could now be influenced by social media on a different note and in the same year the channel majestic casual was founded some say that this channel influenced internet music culture with an acute taste for various types of cutting-edge future music of various genres it brought the music into the limelight which is now heard everywhere from 2012 onwards you've never really looked back over the years every few months new features have been added to the dismay or joy of many but regardless saw the exponential growth of the website it really has become its own living breathing culture which is amazing for the short amount of time that has really been around in full force so that's all well and good but what other interesting things are there about YouTube just how big is it now well it's bigger than TV according to Google executive chairman Eric Schmidt he already serves the YouTube is replacing TV watching as a whole he goes on to say that the future of YouTube is now this was in reference to YouTube having passed 1 billion unique visitors every month but he says it's not finished yet he goes on to say wait until he gets a 6 billion or 7 billion unique users a month but that was two years ago and now everyone is starting to realize just how big YouTube is even the TV advertisers advertisers are now starting to turn from TV to YouTube and one of those ways is through Google's preferred program where exclusive advertisers which many of them are from TV can choose to advertise on premium YouTube channels not only this but some very real celebrities have actually made their start from YouTube apologetically one that comes to mind is Justin Bieber but apart from that we have shows like broad city and workaholics which were to mirroring concept shows that got their start from YouTube skits and now they have full seasons on primetime TV and are both enjoying a lot of success but that's not all some quite interesting phenomena is happening just by the sheer amount of video that's on there when you just have so many people uploading videos some strange things are bound to happen a large number of people who have started to upload their old VHS tapes digitally and because there are just so many people doing this we can already construct entire decades of TV so much so that if you were a couch potato 20 years ago that never went outside and just sat down and TV all day the simulation that we get from all these YouTube videos can already be pretty accurate maybe wondering what I'm talking about here and how do I know this well this is my case in point right here there exists a very clever website that was made to mimic the TV reality of the 1970s 1980s and 1990s the sites are called my 70s TV my 80s TV and my 90's TV respectively and on here you can watch comedy commercials drama game shows movies music news specials sports talk shows movie trailers and just everything from a particular year there's more videos being added all the time but already it works like an actual TV of the decade I may be alone on this one but I personally think this is one of the most amazing things I've ever seen on the Internet it's really like unfiltered history so just finishing off there's so much I can say about YouTube but it's clear that the community is very vibrant as there's new forms of infotainment which channels such as Vsauce or veritasium or even channels for straight learning such as sixty symbols or crash course there's everything from hilarious prank videos with channels such as big doors TV or Andrew Hales amazing special effects with corridor digital or Freddy view or just straight-up comedy with Smosh owners pranks and nigahiga community channel or even the stranger comedy of how to basic who by the way actually lives around the corner from me in Perth I've actually did used that by some of the surroundings in his videos and I found that absolutely hilarious coming to a close YouTube definitely has changed the world politically personally for the lives of many and collectively in the way we communicate with each other and tend to consume media throughout society it's all very very interesting and only time will tell whether its platform goes in another 10 years video on demand has never been so diverse and has never been so good so looking at the big picture all of this really just started from 3 good friends realizing that there was no existing way of sharing an embarrassing video of Jenna it's funny the way things go anyway this has been to go go and you've been watching cold fusion don't forget to leave a comment give a thumbs up and subscribe if you're new thanks for watching and I'll see you again soon for the next video cheers guys have a good one hey guys to get here just want to thank you guys for watching my YouTube documentary or the documentary on YouTube I just think it's kind of fascinating that this whole phenomena which I'm even a part of started because three guys just had a good idea and just really went for it so it's a really cool story when you think about it and I just thought I'd like to share that with you guys but yeah as you saw by the end of that video the Vox is launched it is still being worked on sorry those taken so long you know the pipeline that we've got is only really small I've only got me as a designer and the code are working on the implementation of the boxis launcher and he's busy with some other client work as well over the past couple of months and I've just started full-time work as well which is another reason why the video uploads haven't been as regular so I'm still trying to find that balance between uploading videos and actually working full-time so you know don't worry guys like things will get smoothed out in a while so I just want to thank you for your patience for you guys who have been hanging in there yeah I think that's all I really had to say so yeah you guys have a good

one and I'll see you again soon 

How Facebook Started, Grew & Became a $138 Billion Company

 How Facebook Started, Grew & Became a $138 Billion Company                                                            Facebook is the most popular social media networking app existing today.                                                                                                         It allows for the sharing of pictures, exchange of messages and pictures publicly and privately in addition to sharing of data and information. This amazing app is used by more than two billion visitors with a valid email address and above the age of 13 years per month. How Facebook Started Clearly understanding the importance of coding, Mark Zuckerberg’s father Edward taught him Atari BASIC computer programming which he became very adept at. As he grew into a young man and had turned down two of the biggest tech companies in the world, Zuckerberg headed off to Harvard in 2002. One year later Zuckerberg attracted his first big controversy in October 2003 when he created and published Facemash, a website that let Harvard students judge the attractiveness of each other to create rankings (similar to the Hot or Not site that launched in 2000). As he didn’t actually get permission to use student photos, unsurprisingly many were not happy with his work.                                                            However within a few hours, the site had seen 22000 photo views from 450 visitors, but within                                                                                a few days it was shut down and Zuckerberg was hauled in front of the Harvard Administration Board for breaching individual privacy. With the risk of expulsion on the table, the board finally decided to let him stay. After a public apology, he moved on from his first brush with authority and set his sights on his next project. Being inspired by a statement on Harvard Crimson about Facemash stating, "It is clear that the technology needed to create a centralized Website is readily available, the benefits are many." Mark went on to create Facebook. He started writing codes for Facebook in January 2004. He launched TheFacebook located at thefacebook.com in February 2004. With a slightly different name, the platform was familiar.It had a profile where you could upload a photo, share your interests, and connect with other people. It also offered a network visualization of your connections. According to Mark's Dustin Moskovitz, the site had "twelve hundred and fifteen hundred registrants" within twenty-four hours. Six days after the release of the site, Harvard seniors, Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra accused Zuckerberg of deceiving them. Zuckerberg had previously worked on a similar project with them but he eventually quit in order to design TheFacebook. But his ex-collaborators insisted that he stole their concept and ideas and they wanted recompense. The matter was eventually settled. Membership was initially restricted to Havard students. At the end of the month, more than half of the undergraduate students in Harvard had registered on TheFacebook. By the end of 2004, membership was open to nearly all universities in the US and Canada and even more, people were clamoring to sign up. The company was incorporated in summer 2004 and Sean Parker, an entrepreneur who was Zuckerberg's informal adviser was made the company's president. After buying the domain facebook.com from AboutFace Corporation for US$200,000, the company removed "The" from its name in April 2005. In May 2005 Facebook received investments of $12.7m from Accel and $1m from the personal fortune of venture capitalist Jim Breyer. By December 2005 the number of Facebook users had climbed to 6 million including employees of companies like Apple Inc and Microsoft. In May 2007, Facebook opened its Marketplace, which let users post pages to sell products and services. It also saw the launch of the Facebook Application Developer platform, opening the gates for developers to create their own applications and games that integrated with Facebook. The platform was also looking beyond personal profiles to how businesses could use the site. By the end of 2007 over 100,000 companies had signed up, with Facebook launching Pages for Businesses to support this. At this point, it was already making plans to build on existing ad revenue to make advertising on the platform accessible to even the smallest of businesses. That same year, Microsoft announced that it acquired 1.6% shares worth $240 million giving Microsoft the right to place international adverts on Facebook. Facebook’s Steps to Success In the five years since Facebook’s launch it had become so widespread that in 2009 Entertainment Weekly included the social networking site on its end-of-the-decade "best-of" list with the remark, "How on earth did we stalk our exes, remember our co-workers' birthdays, bug our friends, and play a rousing game of Scrabulous before Facebook?" That same year one of the big Facebook games appeared. Farmville was released in June 2009 and, despite being a rip off of a game called Farm Town, became a huge success. By August it had 10million daily active users. Then, finally, in December 2009, Facebook hit a major milestone. With 350million registered users and 132million unique monthly users, it becomes the most popular social platform in the world. Of course, the company wasn’t planning to leave it at that. In July 2010, Facebook had a total of 500 million users, half of which used Facebook for 34 minutes daily on the average. According to SecondMarketInc, Facebook's value was $41 billion as at November 2010 making the company the third largest American web company after Google and Amazon, slightly displacing eBay. That same year FaceMash was auctioned off to an undisclosed buyer for $30,201 by Rahul Jain, a banker. The company announced plans to moves its headquarters to Menlo Park, California in early 2011. In April 2012 Facebook made a major acquisition: Instagram. Spending $1bn. This was just a month before the year’s big event. The IPO. In May Zuckerberg was finally ready to take Facebook public. The company was valued at $104bn with $38 a share. When all was said and done, the IPO raised a huge $161m, but there was trouble ahead. The IPO was dogged with accusations of improper behavior by underwriters and technical issues, while Facebook lost a quarter of its stock value in the process; all in one month. The IPO was declared a “fiasco” by the Wall Street Journal and by June 6 investors had collectively lost $40bn. Over 40 lawsuits relating to the IPO were then filed. It was suggested that the underwriters, Morgan Stanley, JP Morgan, and Goldman Sachs may have acted inappropriately. There were reports they secretly cut revenue estimates mid-IPO, while there were accusations that information was fed to the underwriters from Facebook that led them to cash out. Regardless of the issues it faced, Facebook carried on. By October 2012 the platform saw its 1 billionth registered user with revenue greater than $3 billion. The Facebook Graph Search was introduced on January 15, 2013. It provided an exact answer other than a link to searches. Facebook Home was introduced on April 3, 2013, and was a user interface for Android users. HTC went on to release HTC First with Facebook Home pre-loaded on it. In that same year, Facebook modified its logo, removing the faint blue line under the 'F' and by the end of the year, the company recorded income of $523 million and a total of 945 million mobile users. In February 2014 Facebook announced that it would buyWhatsApp for an incredible $19bn. While Facebook already had a messaging system, this acquisition gave the access to WhatsApp’s younger user base and its overseas users. By January 2019, Facebook introduced the 10-year challenge where users would post one photograph from 10 years ago (2009) together with a more recent photo. Facebook in 2018 Facebook is now available in about 140 languages. As of January 2018, it was visited by 2.2 million active users monthly. As at 2018, the company had revenue and net income upwards of $40 billion and $15 billion respectively with 30,275 employees. As at Sep, 2018 Facebook's Net Worth was estimated to be $138.3Billion Thank you very much for watching our videos. We’ll like to give you another interesting video for you to enjoy next but before then, our team will be very happy if you can like this Video and share it with your friends on social media. If you’re new here, don’t forget to subscribe so you won’t miss other interesting videos like this. Look at your screen now to see two other videos we handpicked for you to enjoy next.                                    We love you