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Bitcoin Basics (Part 2) - "Bitcoin Wallets"

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Get Rocky's free Bitcoin course here - https://chrisdunn.com/free-bitcoin-course Learn all about how to use Bitcoin wallets. Here are the links I mention in the video: Choose your wallet - http://dunn.ly/choose-wallet Download Bitcoin QT - http://dunn.ly/download-bitcoin-qt Blockchain wallets - http://dunn.ly/blockchain-wallets Paper wallet info - http://dunn.ly/paper-wallets
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Text Comments (63)
NELISIWE Mtshali (12 days ago)
some people are sceptic about Bitcoin mining and it makes it hard to recruit
Satendra Kumar Tiwari (1 month ago)
Send ur no please sir
Lacey (2 months ago)
YOU FUCKING MORONS !! WHY WOULD YOU PRETEND TO GO ON DRAGONS DEN WHEN YOU CLEARLY DID NOT. THIS IS A CON PEOPLE !!!!!!!
james chang (2 months ago)
hows it going do you have a email were i can ask you some things thank you jim
emnor koeng (2 months ago)
You should'nt show your face in the video the whole presentation, otherwise it will be an awesome video...
emnor koeng (28 days ago)
itsyounmesweetie yes exactly bro
itsyounmesweetie (28 days ago)
emnor koeng I see what you mean. His face is covering the examples shown a bit much.
emnor koeng (2 months ago)
Really really awesome.. tq bro..
Anil Menezes (4 months ago)
Excellent Video. I wish I had watched the series of Chris's videos a couple of years ago..
Rebecca Jones (4 months ago)
ann-on--imity phoentic :)
Kuldoxy (4 months ago)
U explain things really well, thanks.
Aaron Nauer (5 months ago)
Awesome vids man! love them...btw i see blue slightly purple aura around your head thats a good colour...psychic and healing colors
Raul Gonzales (5 months ago)
Thanks for the info bud
Dr m (6 months ago)
Excellent presentation, your enthusiasm makes it easy to watch
Henry Pratt (6 months ago)
I added a couple of different wallets to my iPhone from the app store. Using one I purchased $100.00 of bitcoin. When I tried to send this to a different wallet the transaction charge showed up as $33.00. This is rediculus. Why would anyone want to use bitcoin for anything?
Boomafoo (3 months ago)
This is currently being solved with Segwit as well as lightning network which will make transaction fees far lower.
Chela Morya (6 months ago)
An-nuh-nim-ity. lol :D I love your videos, they are such a big help to me! I've always wondered about bitcoins but it looked too complicated so I always shied away from it. Thanks for the videos!
Nikkie Virata (7 months ago)
I just started following you and learning about cryptocurrencies before I start to buy and trade, since this video was published 2004, any late 2017 wallet recommendation?
John Souza (7 months ago)
bitcoin wallet is that a hardware wallet.
Rick Perroset (7 months ago)
Chris, do you plan to update this video to cover hardware wallets like Ledger Nano S and TREZOR?
A P (7 months ago)
Thanks a ton Chris. I am learner so this information is very useful for me. You cleared up so many doubts.
Sylvia Sylvia (8 months ago)
Sounds great, I don't have money but can I register then invest when I get money?
Gary Lavelle (8 months ago)
OJNBTLS
Vado (9 months ago)
Where to get LV wallet
Denise Leyja (9 months ago)
Ur pretty knowledgeable have u made any money?
Miles (9 months ago)
Is it not safe to use a bitcoin wallet without a computer/drive/backup drive and only an iPhone?
Ali R (10 months ago)
I'm an IT professional and this is bit too complicated for me to understand.. it will be difficult to attract masses to use it. so many options and software to choose from.. I would call it geek money.. its not for masses... and might never be a complete alternative to regular money
Siege (9 months ago)
It is super confusing...it's like the stock market on steroids.
kimmi Vo (10 months ago)
hi I've just bought btc under your referral. However, still dont know how to store it in my pc and paper. Could you please show me how to do it. ths
Chris Dunn (10 months ago)
+kimmi Vo I suggest getting a hardware wallet like a ledger or trezor and transfer it from the exchange to that. It's simple - you just send it to whatever your wallet address is
Warren Elahee (10 months ago)
Just getting started. Part 1 very informative and educational. Hope this is the tone.
SlayWith A'jee (1 year ago)
are bitcoins worth more than USD ? for example if 100.00 USD = 1 bitcoin . so If you choose to cash out on 1 bitcoin do you receive 100.00 or more?
Savannah D (7 months ago)
Now 1 bitcoin =$6000+
TheOPMASTEROG -_- (11 months ago)
No 1 BTC = $2361.03 USD All you had to do is Google it.
O.B.E. PRODUCTIONS (11 months ago)
ACTUALLY 2500 USD = 1 BTC
Daniel Humbers (1 year ago)
1 bitcoin is now about 700 usd
Patrick Odoherty (1 year ago)
Hey Chris, Thank you so much for helping me understand Bitcoin. You describe how it works in a very easy fashion.
Scope King (1 year ago)
what mobile wallet would you recommend? i found what i believe is a bitcoin atm lol. i was going to purchase a bit coin but required a wallet to transfer it too.
Robert Scott (1 month ago)
Scope King freewallet com houses all kinds of different cryptocurrencies
FACKING AWESOME (1 year ago)
Nice vids really helpfull but i have a question What if you have a paper wallet and into that paper wallet you have 1 btc but at the transaction you want to give 0.5 btc how does that work do you give them all the passwords or do you log in to something and than have it send and than logout?
Dong Nguyen (2 years ago)
Hi Chris, thank you for your series. I have a question you might help to explain. Assume that I have 5 bitcoins that are physically stored in a wallet on my local hard drive. One day this hard drive is damaged, no way to restore, so where will my bitcoins go? Does Bitcoin ecosystem will lose 5 coins from its total 21 mils of coins? As what I can imagine, bitcoins is similar to gold, except gold is tangible material, bitcoin isn’t. So if I store my gold in a secret place and then I lose the address to look for it again, the gold is still there. But bitcoins are just digital, virtual instances. They do not really stay in a position in space. So how we can determine they are?
Daniel 636 (1 year ago)
The more you lose the more you will cause deflation. But it's supposedly less of a problem since you can have more denomination of bitcoin than with traditional currency.
Dong Nguyen (1 year ago)
Thank you so much, I've got it now :)
Chris Dunn (2 years ago)
+Dong Nguyen you can backup your wallet in case your hard drive is damaged so you can recover the Bitcoin... But in theory, if you "lose" Bitcoin it's just like throwing a bar of gold on the bottom of the ocean - nobody can use it.
Dong Nguyen (2 years ago)
Hi Chris, thank you for your series. I have a question. Assume that I have 5 bitcoins that are physically stored in a wallet on my local hard drive. One day this hard drive is damaged, no way to restore, so where will my bitcoins go? Does Bitcoin ecosystem will lose 5 coins from its total 21 mils of coins? As what I can imagine, bitcoins is similar to gold, except gold is tangible material, bitcoin isn’t. So if I store my gold in a secret place and then I lose the address to look for it again, the gold is still there. But bitcoins are just digital, virtual instances. They do not really stay in a position in space. So how we can determine they are?
Anonymous (1 year ago)
By the way, are you the creator of flappy bird?
Anonymous (1 year ago)
probably yes. Think about it as fixed amount of gold. You own 5 grams of gold...you loose it and the entire worlds reserve of gold would go down by 5 grams.
marla singer (2 years ago)
It's "ANN-on-IMM-it-ee"
Dan Zayas (3 years ago)
2:30 the story of the guy who lost 6mil worth of bit coin how would that effect the ovefall market?
Lorenzo - (2 years ago)
+Dan Zayas negligible
Rene Ameris (3 years ago)
Hi Chris, thanks for the info. I am at your site while researching "Ufun/Utoken" a digital currency out of Thailand. They seem to have taken a different approach by following the Basel guidelines to give credibility to the currency, but that seems to open it up to third party control. I am wondering if you have any opinion on this? 
Rene Ameris (3 years ago)
Well this is going viral out of Thailand! I'm trying to validate if not a scam? It supposedly split 3 times in 2014 at 1 to 10. It's Now at .142 a share suppose to reach $1.00 around April to split again?
Chris Dunn (3 years ago)
+Rene Ameris haven't heard of it before you mentioned it... 
Eric Draven (3 years ago)
i have some advice if people are wanting a usb wallet i would say just download the program an drag to the usb file an install on it if u want to be technical u can encrypt the usb also :D it shouldnt be that hard to make a usb wallet it would be like a removable hard driver if u formated it as fat32 if u use windows lol u can encrypt with omni pass true crypt or etc if u are savy lol just friendly advice to maybe help i would extract the program inside the usb and make sure ur usb is big enough for the file 16meg is 1 gig thats ideas to maybe it will help 
dick castle (3 years ago)
im pretty new to bitcoin, i downloaded bitcoin qt for mac, sent some bitcoins to it not realizing it was out of sync.  It doesn't seem to be syncing AT ALL, how to i make it sync?  I already sent the bitcoin (or part of one actually) to the address, if it doesn't sync, then what? is it lost forever?  is the wallet supposed to sync automatically?  Because it is not.  very confused
Mark Evans (3 years ago)
Yeah, that's another thing, there is no mention at all about how to set up a USB as an Offline Wallet which is what most people want to do now a days.
Mark Evans (3 years ago)
He talks about paper wallets writing down the Public and Private Keys but he does not explain how a Paper Wallet can hold the information that represents a Bitcoin? The Keys only allow you access to something On-line. (Like a User ID and Password)  Is all the info stored somewhere on-line or not? The topic is Vague to say the least. 
Jeru Sanders (4 years ago)
Mm, as a computer science guy I have to point out that it's "Android" not "Droid", Droid is a company that benefited off that name Android. Similar to how blockchain.info isn't in any way officially related to the blockchain and it isn't hosted there, it just benefited off the namesake. It's a Droid app as much as it's an LG app or an HTC app.
parenzopoker (4 years ago)
just found the reason why multibit sync is much faster than other wallets "MultiBit stores the headers only of the new blocks into its local copy of the blockchain,   It does not store the transactions themselves as other wallets do" also note that some people having some issues with latest version of Multibit so be cautios if you downloading latest version,you can find multibit discussion here https://bitcointalk.org/index.php?topic=43616.0
parenzopoker (4 years ago)
Multibit ftw. imo,much faster sync than bitcoin QT,especially if you just downloaded wallet,personally using designated usb stick just for my coin wallets wich is unplugged while browsing and using internet for max. security ,nice video Chris,cant wait for "exchanges" one
Daniel Humbers (1 year ago)
thank you so much man this is the first one I found that my shitty ass computer can actually run
UlyssesKrunk (4 years ago)
+Chris Dunn You should also look into Electrum, it's a lightweight version so you don't have to download the entire blockchain, which can take forever.
Chris Dunn (4 years ago)
cool, I'll check it out, thanks for the info

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