In this video on My Drunk Kitchen, the host talks about the concepts of Bitcoin. She further explains how Bitcoin works and being used in the society nowadays.
Transcript
Transcript generated by YouTube auto-captions. May contain errors.
Lost my slipper. Hello. Pot kettle. No name calling.
Let me tell you a story about eyeballs. Educational teen rapper from the '9s. You know, I'm always disappointed when there is a clean wine glass because then it makes me feel guilty for choosing a mason jar. I had options.
This week on My Drunk Kitchen, we're going to drink, bake cookies, and also try and explain loosely the concept of bitcoins. Why, you may ask? Consider this some sort of weird self-destructive multitasking. Oopsies.
We not the floor. That's where all the dirt lives. And wipe it with your foot. Wipe it with your foot.
Yeah, this sock will go in the laundry sooner than I will ever mop. So guys, I recently became obsessed with the concept of bitcoins. And if you're wondering what a Bitcoin is, think of it this way. It is simply a digital decentralized form of currency or a type of cryptocurrency that exists only in the zeros and ones and spaces on the internet that you can use to barter for trade or goods or services or wares.
Who knows? Whatever you'd like. Maybe all those words meant the same thing. I don't know.
Now, if you didn't catch all that, I'm going to bake some cookies and explain it all again except slower. Here we go. How do you make cookies again? Hannah, you should know this by now.
Oh, phone. Shut the [ __ ] up. Flour, baking soda, salt, butter, sugar, eggs. How many?
Two. Great. Think of the flour as the open marketplace. Whoops.
Okay, there it is. Oh, wow. Good thing it landed on that wine stain from earlier, so it soaked it all up. Think of the baking powder as bakes.
Woo! What's your purpose? NBC us. Think of salt like credit cards.
You, you know, it adds rewards to flavor, but ultimately if you have too much of it, you're um won't be able to qualify for a home loan. H so stupid. I Why? It's like, how can you have bad credit from one thing that happened when you were in college, you were so broke, you get older, you're a great citizen, you pay your taxes like in January and you get bad credit for what?
For why? You know what the other thing is? They say get a credit card to build your credit back, but then you get a credit card. And if you use your credit card, you're not actually building your credit cuz credit report people or whatever check in the middle of the month.
So, if you have like half a month of credit debt built on your credit card despite the fact that you pay it off at the end of every month, that doesn't actually build your credit. Why isn't that something they tell people? Maybe it's cuz they want you to have bad credit so that they can do things. Oh, my skin looks weird in this lighting.
Cool. Good thing I'm not prone to panic and hypocchondria. Web MD. Next, add eggs, sugar, and butter.
Or as I like to call them, the sticky part. Why is sugar sticky when it's heated? Good job, Hannah. Butter, no sugar.
Okay, I think I forgot to do my analogy at this point. Oh, yay. M. No.
Hey guys, here's a tip for real life. Don't put your baking sheets under the oven because then when you preheat the oven, they're so hot cuz it gets so hot down there. I'm sorry. Ow.
Ow. Ow. Ow. Great.
Too hot. Too hot. Too hot. No.
Timer 17 minutes. Wa. Okay, great. So, back to bitcoins.
While we wait for this thing to finish, let me explain it to you this way. Imagine you and a group of friends that you were connected on a open source peer-to-peer platform with across the world are like, "Hey, let's just use chocolate chips instead of money. You could still go to a store and buy a bag of chocolate chips." And you go to your friends and say, "Hey, do you take chocolate chips? I can give you chocolate chips instead of money.
I got these right here." And then your friends are like, "Yeah, sure. I'll take those chocolate chips." And you're like, "Ploop ploop ploop. Here you go. Bye." And the interactions are only between you and your friend.
There's no um third party in in that. So there's no like prerequisites or fees or anything like that. Another thing that's kind of cool about it is that it's accepted across waters. So if I was with my French friend and I was like, "Hey French, I got five chocolate chips." How many chocolate chips is five worth in your country?
Fr. Five chocolate chips because five chocolate chips are worth the same all over the world. Wow, that's really [Music] cool. Messy.
M m even makes sense. I really hope it does cuz I think this is very cool. But Hy, you might be wondering what causes it the change in the value of the chocolate chip cuz last year one chocolate chip was worth a hundred bucks and this year one chocolate chip is worth closer to $1,000. So maybe you feel like you missed the boat on buying a chocolate chip then.
Well, let me tell you that the new digital decentralized chocolate chip market is based purely on supply and demand. So the more people selling and the more people buying come together. Voom boom boom. You know they say save early and often when you're playing a game or writing a book.
I wrote a book. It's like that. Invest early but not often. I'm very choosy.
So far it's nanobots and bitcoins. This is the cookie. Making you more beautiful also more relevant. For those of you that are worried that since you can't see it in real life, maybe bitcoins aren't real.
That sounds well and good, but how do I know they have any value in the real world? Let me ask you this. Does this look like it has no value in the real world? Huh?
But this isn't a Bitcoin right now. It's a bite coin. And now it's a Bitcoin. Also, more like a spicy scone.
Hot. Subscribe to my channel for more information about seemingly relevant things. Also, everything I know about Bitcoins, I learned on a subreddit a year to a day ago. Cheers.
Boop. Beep.