# Bitcoin Explained - a video explaining the decentralized digital cryptocurrency Bitcoin

A video providing an explanation of Bitcoin. It explains how new bitcoins are generated (mining). It also gives information about Bitcoin exchanges (it mentions Mt.Gox by name).

The video also gives information about where bitcoins can be spent. It mentions the black market Silk Road, WordPress and WikiLeaks donations.

Some information in the video is slightly outdated. The reward for mining a new block is currently 25 BTC, it was 50 earlier.

The value of one bitcoin in USD has changed as well. The current exchange rate is available here.

The amount of bitcoins in circulation is changing constantly as well. The current amount is available here.

- Kind: Short
- Year: 2013
- Runtime: 3 min
- By: Duncan Elms
- Archive: [Wikimedia Commons](https://commons.wikimedia.org/wiki/File:Bitcoin_Explained_-_a_video_explaining_the_decentralized_digital_cryptocurrency_Bitcoin.webm)
- Licence or status: [CC BY-SA 3.0](https://creativecommons.org/licenses/by-sa/3.0) (as the archive states it)
- Credit: Duncan Elms
- Who can watch: Teens profiles and older (the archive gives no rating; placed by Invisible Network from its collection and subjects)

[Watch now](https://invisiblenetwork.ai/watch/archive/commons/25555481?play=1)