120 Bitcoin - One Minute History

The video introduces Bitcoin, a decentralized digital currency created under the pseudonym Satoshi Nakamoto. It explains Bitcoin's concept as a secure, open-source, peer-to-peer electronic payment system that operates on a decentralized blockchain network. Each transaction is verified and recorded on a ledger that exists on every computer in the network, making it tamper-proof. The video also highlights Bitcoin's potential to revolutionize the global financial system.

Who is credited with the creation of Bitcoin?

• Elon Musk

• Satoshi Nakamoto

• Vitalik Buterin

• Charlie Lee

What is required to own Bitcoin?

• A government ID

• A bank account

• An internet connection

• A credit card

How are Bitcoin transactions verified?

• By a single computer

• Through a peer-to-peer network

• By a central authority

• By a government agency

What makes it difficult to alter the Bitcoin ledger?

• Its government backing

• Its decentralized system

• Its encryption methods

• Its centralized nature

What potential impact does Bitcoin have on the financial system?

• It could reduce internet usage

• It could increase transaction fees

• It could alter the global financial system

• It could make banks obsolete