This video needs to be updated

[neutralist]

http://www.youtube.com/watch?v=Um63OQz3bjo#t=89

"No fees" is obviously false as a transaction with no fees (a.k.a. no tips) don't get processed/confirmed at a reasonable time frame.

[1713552670]

1713552670

[Cudahuda]

Yes, it also provides too much emphasis on mining as things are a bit different now.

[Stephen Gornick]

http://www.youtube.com/watch?v=Um63OQz3bjo#t=89

"No fees" is obviously false as a transaction with no fees (a.k.a. no tips) don't get processed/confirmed at a reasonable time frame.

The sender pays a fee.   A merchant doesn't pay a fee.

[will1982]

It's kind of outdated, but not enough to warrant a remake.

[Pumpkin]

A much better "What is bitcoin?" video:

https://www.youtube.com/watch?v=X_hz7TyQ_bs

Doesn't overemphasize mining. Mining only confuses people and makes bitcoin look like a ponzi scheme. Don't talk about it!

Anyone got better suggestions?

[marcotheminer]

http://www.youtube.com/watch?v=Um63OQz3bjo#t=89

"No fees" is obviously false as a transaction with no fees (a.k.a. no tips) don't get processed/confirmed at a reasonable time frame.

The sender pays a fee.   A merchant doesn't pay a fee.

I think thats what the video is trying to point out. But still they are fees...

[gmaxwell]

I think thats what the video is trying to point out. But still they are fees...

The video is quite accurate on this point, and note that it does show that there are fees. It then distinguishes the merchant case.

[will1982]

http://www.youtube.com/watch?v=Um63OQz3bjo#t=89

"No fees" is obviously false as a transaction with no fees (a.k.a. no tips) don't get processed/confirmed at a reasonable time frame.

The sender pays a fee.   A merchant doesn't pay a fee.

I think thats what the video is trying to point out. But still they are fees...

The fees are very low.
0.0005BTC=$0.06 USD.

Not very much if you ask me.