Presentation about bitcoin given at the Rio Grande Valley Zeitgeist Movement ZDay 2014 event.

1. BITCOIN: What it is, Why
it’s important and How it
won’t save us
Frank Flores
Rio Grande Valley Zeitgeist Movement
Z-Day 2014

2. BITCOIN: What it is
Decentralized
No single point of failure or control
Digital
Not a physical object - ephemeral
Peer to Peer
All nodes are equal, anti-fragile
Cryptocurrency
Security and integrity rely on mathematics
Open source software

3. BITCOIN: How it works
Gossip
Everyone shares their signed messages
ECDSA 256 / SHA-256 / RIPEMD-160
Verification
Do the messages make sense?
Merkle Tree / Algorithmic Control
Securing and Issuance
Add messages to ledger and reward miners
SHA-256 Hashing / Defined and Limited

4. Growth Rate of Bitcoin Network Hashing Power
2009-Present

5. BITCOIN: Why it’s important
Obviates Governmental Authority
No one person or entity regulates currency
Not subject to searches, seizures, freezing
More Efficient, Cheaper Than Banks / CC’s
A virtuous circle that rewards contributors
Volunteers operate the infrastructure, vote
The Ephemeralization of Money/Finance
Economic opportunity for under/unbanked
Basis for new technologies/paradigms

6. BITCOIN: How it won’t save us...
Continues to Promote Money System of Value
Does not promote sustainability
Thrives on market inefficiencies
Maintains and Increases Inequality
Must have access to significant technology
Must invest more wealth to earn more wealth
Cartel and Monopoly/Oligarchy or Factions
Market pressures still exist
Bitcoin network can become fractured

7. ...but here’s why it helps us!
Encourages An Honest Discussion About
Money
Many news outlets asking “What is money?”
Much more discussion of fiat, Fed polices
Proves a useful technology and paradigm
Given agreeable software, we’ll contribute!
No one in charge, everyone votes!
Alternative currencies enable significant
change!
SolarCoin, PrimeCoin, NameCoin
Change encourages more change!

8. QUESTIONS
AND
ANSWERS