A Bitcoin intro

@exmosis bitcoinlife.wordpress.com

The Exciting Stuff Global Usable Open Economically Experimental

What is Bitcoin?

What is Bitcoin?Invented in 2008 by "Satoshi Nakamoto"Bitcoin / Bitcoins / BTCDigital Virtual Crypto currency?

What is Bitcoin?Digital Virtual Crypto currency? Internet currency

MATHSRULES

CODERULES

NETWORK RULES

What is Bitcoin? Like Moneybut slightly different

What is Bitcoin? Like Poundsbut more "limited"

What is Bitcoin? Like Paypalbut more chaotic

What is Bitcoin?Like Second Life money but you can buy stuff

Bitcoin MIGHT BE: Bitcoin IS...

Bitcoin IS...Bitcoin MIGHT BE: Relatively fast (to anywhere) (~ 10 minutes)

Bitcoin IS...Bitcoin MIGHT BE: Relatively free (to anywhere)

Bitcoin IS...Bitcoin MIGHT BE: Relatively transparent http://www.bbc.co.uk/news/technology-19633980

Bitcoin IS...Bitcoin MIGHT BE: Hackable

Bitcoin IS...Bitcoin MIGHT BE: Your responsibility"Bitcoin doesnt ask that users trust anyinstitution.Its security is based on cryptography." - Bitcoin FAQ

Bitcoin is NOT...

Bitcoin is NOT... Not (totally) Instant

Bitcoin is NOT... Not (totally) Anonymous

Bitcoin is NOT... Not for the Faint-Hearted?http://www.bbc.co.uk/news/technology-19486695

Bitcoin is NOT... Not Illegal

Bitcoin is NOT...Not necessarily easy to get

Bitcoin is NOT... Not too stable (yet)

BTC vs USD Source

Bitcoin is NOT...Not great for Offline (yet?)

Bitcoin is NOT...Not Tested For Hundreds of Years (yet)"Bitcoin is an experimental, virtual currency that may succeed or may fail. " - Bitcoin FAQ

Bitcoin is NOT... Not a Pyramid Scheme

The Bitcoin Pyramid

The Bitcoin Pyramid The Bitcoin Stack You are here? Community Economy Payments SoftwareProtocol (Rules)

1. Protocol

Protocol 1. ProtocolWho owns whichnumbers?Public/Private Keys are awesome

Protocol 1. ProtocolWho keeps trackof it all?

Protocol 1. ProtocolWhere do Bitcoinscome from?

Protocol 1. Protocol Crypto Power = Verified Ownership

Protocol 1. Protocol Computing Power = Verified History

1. Protocolhttp://anonymity-in-bitcoin.blogspot.co. uk/

2. Software

Software 2. SoftwareClients

Software 2. SoftwareAPIs, Hackability e.g. blockchain.info rugatu.com satoshidice.com

Software 2. SoftwareMaking the virtual physical Coins Cheques Cards Print-your-own* Physical wallets

3. Payments

Payments 3. PaymentsHow can I get me some? freebitcoins.appspot.com IRC intersango.com mtgox.com For cash: localbitcoins.com (Or sell something?) (Or beg?)

Payments 3. PaymentsHow can I get me some? PingIt!

Payments 3. PaymentsWhat can I buy? Hosting Services Games Clothing Magazines Handmade food Chocolate Watches Tea & Coffee Tiny cannons Weddings Soap Music Tooth repairs Pirateboxes Mitt Romneys tax returns

Payments 3. Payments

Payments Skip Adwww.blocknois.es

3. PaymentsWiki list of tradersSource

Payments 3. PaymentsHow do I pay?196uGPvLidBWE9M7xT8QBk6Bj8qmUxFdMf Hmmm. Catchy.

Payments 3. PaymentsQR Codes

Payments 3. PaymentsFirst Bitshttp://blockchain.info/address/196uGPvLidBWE9M7xT8QBk6Bj8qmUxFdMfFirst Bits: 196ugp(Only after first use though)

Bitcoin in Action http://blockchain.info/wallet

Payments 3. PaymentsThird PartiesSlowly appearinge.g. www.bitpay.comEffort/Value feedback...

4. Economy

Economy 4. EconomyWhat is "value"? Usefulness + Demand

Economy 4. EconomyWhat is "value"? That is it.

Economy 4. EconomyWhat is Bitcoins"usefulness" value? - Ease of use? - Scarcity? - Self-fulfilling value / Speculation? - ... Other?

Economy 4. EconomyValue = Attention = Use = Demand = Value =Attention = Use = Demand = Value = Attention= Use = Demand = Value = Attention = Use =Demand = Value = Attention = Use = Demand= Value = Attention = Use = Demand = Value =Attention = Use = Demand = Value = Attention= Use = Demand = Value = Attention = Use =Value = Attention = Use = Demand = Value =Attention = Use = Demand = Value = ...

5. Community

Community 5. CommunityIs there a community?Yes and No... Self-Interest vs Network-Interest Hoarders vs Spenders Scammers vs Victims

Community 5. CommunityIs there a community? More responsiiblity = More social feedback

Community 5. CommunityWhat happens next?* - User friendliness - More openness - Price stability? - Killer app?*(IMHO)

Community 5. CommunityHow does Bitcoin scale? Value is floating Difficulty is floating Bitcoins are declining Interest is ... ?

Last Slide Interested? Intrigued? Indifferent? Lets talk! bitcoinlife@exmosis.net twitter.com/exmosis bitcoinlife.wordpress.com14nAMRedT3b31miF3bpfMwY2VSe5tF19oD

Really Last Slideweusecoins.comBitcoin WikiBitcoin FAQBitcoin Businesses

OK Really Last Slide Thanks.

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A Bitcoin intro

by Graham L on Sep 24, 2012

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