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N a t i o n a l M i n i n g U n ive r s i t y

Bitcoin.
General information
Bulgakov Dmitr y, 2013
Content
1. Bitcoin Versus Conventional Currencies

2. How Bitcoin works
3. Bitcoin pros and cons
Bitcoin Versus Conventional Currencies
Bitcoin uses P2P technology without a central authority
Bitcoin Versus Conventional Currencies
Bitcoin is primarily digital
Bitcoin Versus Conventional Currencies
Bitcoin has a maximum 21 million limit

=
Bitcoin Versus Conventional Currencies
Bitcoin transactions have limitations
Bitcoin Versus Conventional Currencies
Bitcoin balances are not insured
How Bitcoin works
Bitcoin uses asymmetric encryption method

key pair
W hat is encr ypted with the one key → сan be decr y...
How Bitcoin works
Bitcoin can be acquired through a number of ways
How Bitcoin works
All Bitcoin transactions are included in a block chain
Bitcoin pros and cons
Bitcoin has a number of advantages:
 Bitcoin is the first cryptocurrency to capture the public imag...
Bitcoin pros and cons
Bitcoin's disadvantages include:
 The price of a Bitcoin has been increasingly volatile, making it ...
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Bitcoin. General information

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Transcript of "Bitcoin. General information"

  1. 1. N a t i o n a l M i n i n g U n ive r s i t y Bitcoin. General information Bulgakov Dmitr y, 2013
  2. 2. Content 1. Bitcoin Versus Conventional Currencies 2. How Bitcoin works 3. Bitcoin pros and cons
  3. 3. Bitcoin Versus Conventional Currencies Bitcoin uses P2P technology without a central authority
  4. 4. Bitcoin Versus Conventional Currencies Bitcoin is primarily digital
  5. 5. Bitcoin Versus Conventional Currencies Bitcoin has a maximum 21 million limit =
  6. 6. Bitcoin Versus Conventional Currencies Bitcoin transactions have limitations
  7. 7. Bitcoin Versus Conventional Currencies Bitcoin balances are not insured
  8. 8. How Bitcoin works Bitcoin uses asymmetric encryption method key pair W hat is encr ypted with the one key → сan be decr ypted with the other public private сan be decr ypted with the other ← W hat is encr ypted with the one key
  9. 9. How Bitcoin works Bitcoin can be acquired through a number of ways
  10. 10. How Bitcoin works All Bitcoin transactions are included in a block chain
  11. 11. Bitcoin pros and cons Bitcoin has a number of advantages:  Bitcoin is the first cryptocurrency to capture the public imagination  Total issuance is limited to 21 million, so it is unlikely to be devalued  As a decentralized currency, Bitcoin is free from government interference and manipulation.  Transaction costs are much lower than with conventional currencies.
  12. 12. Bitcoin pros and cons Bitcoin's disadvantages include:  The price of a Bitcoin has been increasingly volatile, making it difficult to assess its real value and increasing the risk of losses for investors in the cryptocurrency.  The relative anonymity of Bitcoin may encourage its use for illegal and illicit activities such as tax evasion, weapons procurement, gambling and circumvention of currency controls.  The fact that bitcoins exist primarily in digital form renders them vulnerable to loss.
  13. 13. Thanks for watching
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