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WTF is Bitcoin? (Video)

A lot of major media outlets take for granted that the cryptocurrency bitcoin is a complex subject. It's not a given that every person under the sun already understands the intricacies of
Jacob Harper received his BA from the University of Missouri in 2005, and his MA in Writing from Missouri State in 2009. He's written for American Express, Wisebread, LA Foodie, and Fox Digital, and he served as a Writer & Editor for the 2013 Los Angeles edition of the guidebook series Not For Tourists. Jacob currently lives in Los Angeles.
Jacob Harper received his BA from the University of Missouri in 2005, and his MA in Writing from Missouri State in 2009. He's written for American Express, Wisebread, LA Foodie, and Fox Digital, and he served as a Writer & Editor for the 2013 Los Angeles edition of the guidebook series Not For Tourists. Jacob currently lives in Los Angeles.

A lot of major media outlets take for granted that the cryptocurrency bitcoin is a complex subject. It's not a given that every person under the sun already understands the intricacies of blockchains, wallets, or even what, um, bitcoin even is.

Luckily, that's where the internet comes in. Back in 2011 a video floated around explaining what the (at the time) nascent currency was all about, and ended up gaining major traction, eventually amassing over 5.8 million views.

Of course, much has changed for bitcoin in the last three years, especially BTC's notoriously tricky relationship with China. That inspired this humorous update called "WTF is Bitcoin" from comedians Keith Saltojanes and Joey Clift, which takes a decidedly less serious approach to explaining the world of bitcoin:

 

 

For reference, here's the 2011 original that inspired the new video: