BITCOIN
CURRENCY

Charmi Popat (03)
SVKM’s NMIMS SPP SPTm (School of
Pharmacy & Technology Management)
CONTENT
What is Bitcoin?
Its characteristics
& valuation

How Bitcoin
transaction works?
Use of Bitcoins in
real world...
What is Bitcoin?

Digital
currency

2/3/2014

Peer-to-peer
payment
network

SVKM’s NMIMS SPP SPTM

Japanese
programmer:
Sa...
How Bitcoin transaction works?
Online
Merchant

Online Buyer

Validate

Flow of Bitcoin
& cash
Private Key

Receivers

2/3...
Its characteristics
Open-source software program

“crypto-currency”
“Mining”
Portable
Authenticity Verification
Finite (21...
Currency Valuation
• Supply and demand
• 1 BTC = $847.24 (As of Jan.31 . 2014)
st

2/3/2014

SVKM’s NMIMS SPP SPTM

6
Advantages & Disadvantages
- Decentralized
- Payment freedom
- Very low fees
- Difficult to Counterfeit
- online security
...
Use of Bitcoins in real world
• 20 business (such as apartments, law firms, and popular online
services such as WordPress)...
Example of website where bitcoin is used

2/3/2014

SVKM’s NMIMS SPP SPTM

9
Places where Bitcoin is accepted in the
world

2/3/2014

SVKM’s NMIMS SPP SPTM

10
Use of Bitcoins in real world
• US • “surrogate currency”
• seized bitcoins from
purchasing a controlled
substance
Money
l...
Bitcoin ATM
• World’s 1st Bitcoin ATM- Vancouver,
Canada at Wave coffee house
• Maker - Robocoin
• It’s a Cash-Only Machin...
2/3/2014

SVKM’s NMIMS SPP SPTM

13
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Bitcoin - Digital Currency

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Bitcoin - Digital curreny
Content:  What is Bitcoin?
 How Bitcoin transaction works?
 Use of Bitcoins in real world
 Its characteristics & valuation
 Overall acceptance scenario
 Bitcoin ATM

Published in: Economy & Finance, Technology
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  •  RBI has listed loss due to hacking and malware, loss of password and the absence of an established framework for recourse to customer problems and disputes. But the central bank's main concern appears to be that virtual currencies are being used for illegal activities. 
  • Bitcoin - Digital Currency

    1. 1. BITCOIN CURRENCY Charmi Popat (03) SVKM’s NMIMS SPP SPTm (School of Pharmacy & Technology Management)
    2. 2. CONTENT What is Bitcoin? Its characteristics & valuation How Bitcoin transaction works? Use of Bitcoins in real world Overall acceptance scenario Bitcoin ATM 2/3/2014 SVKM’s NMIMS SPP SPTM 2
    3. 3. What is Bitcoin? Digital currency 2/3/2014 Peer-to-peer payment network SVKM’s NMIMS SPP SPTM Japanese programmer: Satoshi Nakamoto (2009) 3
    4. 4. How Bitcoin transaction works? Online Merchant Online Buyer Validate Flow of Bitcoin & cash Private Key Receivers 2/3/2014 SVKM’s NMIMS SPP SPTM 4
    5. 5. Its characteristics Open-source software program “crypto-currency” “Mining” Portable Authenticity Verification Finite (21 million bitcoins and the last expected to be “mined” in 2140) 2/3/2014 SVKM’s NMIMS SPP SPTM 5
    6. 6. Currency Valuation • Supply and demand • 1 BTC = $847.24 (As of Jan.31 . 2014) st 2/3/2014 SVKM’s NMIMS SPP SPTM 6
    7. 7. Advantages & Disadvantages - Decentralized - Payment freedom - Very low fees - Difficult to Counterfeit - online security - Volatile - a lack of regulation 2/3/2014 SVKM’s NMIMS SPP SPTM 7
    8. 8. Use of Bitcoins in real world • 20 business (such as apartments, law firms, and popular online services such as WordPress) • August 2013, US$ 1.5 billion • Bitcoin gambling sites Physical goods • Bitcoinshop.us Travel • Bitcoin.Travel Online auctions • Silkroadvb5piz 3r.onion Greeting cards • Amazon.com gift cards • BitcoinStore.c om Memory Dealers 2/3/2014 SVKM’s NMIMS SPP SPTM 8
    9. 9. Example of website where bitcoin is used 2/3/2014 SVKM’s NMIMS SPP SPTM 9
    10. 10. Places where Bitcoin is accepted in the world 2/3/2014 SVKM’s NMIMS SPP SPTM 10
    11. 11. Use of Bitcoins in real world • US • “surrogate currency” • seized bitcoins from purchasing a controlled substance Money laundering 2/3/2014 SVKM’s NMIMS SPP SPTM 11
    12. 12. Bitcoin ATM • World’s 1st Bitcoin ATM- Vancouver, Canada at Wave coffee house • Maker - Robocoin • It’s a Cash-Only Machine • Works on - Biometric Identification System • It can dispense hard cash in exchange for Bitcoins • Transaction recorded in – Public Ledger • Create on the spot new a/c – 4min (Scan your palm, Government identification card & Face recognition) 2/3/2014 SVKM’s NMIMS SPP SPTM 12
    13. 13. 2/3/2014 SVKM’s NMIMS SPP SPTM 13
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