Bitcoin is a digital currency created in 2008 that allows for fast and relatively free transactions anywhere in the world. It uses cryptography and a decentralized network to verify transactions and create new bitcoins. The value of bitcoin comes from its usefulness as a currency and the demand for it. However, bitcoin is still experimental and volatile, with an uncertain future in terms of stability, regulation, and widespread adoption. The bitcoin community continues to develop the software, payment systems, and applications around this new currency.

1. @exmosis bitcoinlife.wordpress.com

3. The Exciting Stuff
Global
Usable
Open
Economically Experimental

4. What is Bitcoin?

5. What is Bitcoin?
Invented in 2008 by "Satoshi Nakamoto"
Bitcoin / Bitcoins / BTC
Digital Virtual Crypto currency?

6. What is Bitcoin?
Digital Virtual Crypto currency?
Internet currency

7. MATHS
RULES

8. CODE
RULES

9. NETWORK RULES

10. What is Bitcoin?
Like Money
but slightly different

11. What is Bitcoin?
Like Pounds
but more "limited"

12. What is Bitcoin?
Like Paypal
but more chaotic

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

14. Bitcoin MIGHT BE:
Bitcoin IS...

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

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

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

18. Bitcoin IS...
Bitcoin MIGHT BE:
Hackable

19. Bitcoin IS...
Bitcoin MIGHT BE:
Your responsibility
"Bitcoin doesn't ask that users trust any
institution.
Its security is based on cryptography."
- Bitcoin FAQ

20. Bitcoin is NOT...

21. Bitcoin is NOT...
Not (totally) Instant

22. Bitcoin is NOT...
Not (totally) Anonymous

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

24. Bitcoin is NOT...
Not Illegal

25. Bitcoin is NOT...
Not necessarily easy to get

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

27. BTC vs USD
Source

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

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

30. Bitcoin is NOT...
Not a Pyramid Scheme

31. The Bitcoin Pyramid

32. The Bitcoin Pyramid
The Bitcoin Stack
You are here?
Community
Economy
Payments
Software
Protocol (Rules)

33. 1. Protocol

34. Protocol
1. Protocol
Who owns which
numbers?
Public/Private Keys are awesome

35. Protocol
1. Protocol
Who keeps track
of it all?

36. Protocol
1. Protocol
Where do Bitcoins
come from?

38. Protocol
1. Protocol
Crypto Power
=
Verified Ownership

39. Protocol
1. Protocol
Computing Power
=
Verified History

40. 1. Protocol
http://anonymity-in-bitcoin.blogspot.co.
uk/

41. 2. Software

42. Software
2. Software
Clients

43. Software
2. Software
Clients

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

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

46. 3. Payments

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

48. Payments
3. Payments
How can I get me some?
PingIt!

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

50. Payments
3. Payments

51. Payments
Skip Ad
www.blocknois.es

52. 3. Payments
Wiki list of traders
Source

53. Payments
3. Payments
How do I pay?
196uGPvLidBWE9M7xT8QBk6Bj8qmUxFdMf
Hmmm.
Catchy.

54. Payments
3. Payments
QR Codes

55. Payments
3. Payments
First Bits
http://blockchain.info/address/196uGPvLidBWE9M7xT8QBk6Bj8qmUxFdMf
First Bits: 196ugp
(Only after first use though)

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

57. Payments
3. Payments
Third Parties
Slowly appearing
e.g. www.bitpay.com
Effort/Value feedback...

58. 4. Economy

59. Economy
4. Economy
What is "value"?
Usefulness
+
Demand

60. Economy
4. Economy
What is "value"?
That is it.

61. Economy
4. Economy
What is Bitcoin's
"usefulness" value?
- Ease of use?
- Scarcity?
- Self-fulfilling value / Speculation?
- ... Other?

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

63. 5. Community

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

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

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

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

68. Last Slide
Interested?
Intrigued?
Indifferent?
Let's talk!
bitcoinlife@exmosis.net
twitter.com/exmosis
bitcoinlife.wordpress.com
14nAMRedT3b31miF3bpfMwY2VSe5tF19oD

69. Really Last Slide
weusecoins.com
Bitcoin Wiki
Bitcoin FAQ
Bitcoin Businesses

70. OK Really Last Slide
Thanks.