Bitcoin Q&A: Important terminology explained


I am confused by terminology in Bitcoin. Please explain the following terms: private / public keys, hash functions, elliptic curve, addresses, and signatures. How can you create an address offline? How does the Bitcoin network "find out" about the address? These questions are from the third and fourth sessions of MOOC 12, which took place on September 27th and October 4th 2019. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: RELATED:
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Beyond Price: Bitcoin's Impact on the Future –
Consensus Algorithms, Blockchain Technology, and Bitcoin –
Advanced Bitcoin Scripting Part 1: Transactions and Multisig –
Advanced Bitcoin Scripting Part 2: SegWit, Consensus, and Trustware –
What is Consensus: Rules without Rulers –
Forkology: A Study of Forks for Newbies –
Bitcoin: Where the Laws of Mathematics Prevail –
Software distribution security –
What is mining? –
The mining process –
Nonces, mining, and quantum computing –
Iterating nonces and the block reward –
Miners, pools, and consensus –
Mining, energy prices, and fee market –
What is difficulty targeting? –
Hash functions, SHA-256 mining, and addresses –
Genesis block and coinbase transactions –
Cryptographic primitives –
The rules of Bitcoin (part 1) –
The rules of Bitcoin (part 2) –
Rules versus rulers –
The value of proof-of-work –
Could a state-sponsored 51% attack work? –
Honest nodes and consensus –
Spam transactions and Child Pays For Parent (CPFP) –
Is Bitcoin a democracy? –
Governments versus Proof-of-Work or Proof-of-Stake –
Decentralized power, leaderless governance –
What is the role of nodes? –
Why running a node is important –
Spam transactions and Child Pays For Parent (CPFP) –
Energy consumption –
Solar energy and mining in space –
Block reward, reorg protection, and immutability –
Price and hashpower metrics –
Medium of exchange, unit of account, and reserve currency –
Limited supply and block subsidy –
Mining incentives after 2140 –
10-minute block intervals and miner competition –
Locking scripts and transaction verification –
Simplified Payment Verification (SPV) – Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in Bitcoin. He is the author of “Mastering Bitcoin,” “The Internet of Money" series, and "Mastering Ethereum." Follow on Twitter: @aantonop
Website: Subscribe to the channel to learn more about Bitcoin & open blockchains; click on the red bell to enable notifications about new videos! MASTERING BITCOIN, 2nd Edition: Translations of MASTERING BITCOIN: THE INTERNET OF MONEY, v1:
Spanish, 'Internet del Dinero' (v1) –
German, 'Das Internet des Geldes' (v1) –
German, 'Das Internet des Geldes' (v2) –
French, 'L'internet de l'argent' (v1) –
Russian, 'Интернет денег' (v1) –
Vietnamese, 'Internet Của Tiền Tệ' (v1) – MASTERING ETHEREUM: Music: "Unbounded" by Orfan (
Outro Graphics: Phneep (
Outro Art: Rock Barcellos (