A Bitcoin intro

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An intro to the world of Bitcoins.

An intro to the world of Bitcoins.

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  • 1. @exmosis bitcoinlife.wordpress.com
  • 2. The Exciting Stuff Global Usable Open Economically Experimental
  • 3. What is Bitcoin?
  • 4. What is Bitcoin?Invented in 2008 by "Satoshi Nakamoto"Bitcoin / Bitcoins / BTCDigital Virtual Crypto currency?
  • 5. What is Bitcoin?Digital Virtual Crypto currency? Internet currency
  • 6. MATHSRULES
  • 7. CODERULES
  • 8. NETWORK RULES
  • 9. What is Bitcoin? Like Moneybut slightly different
  • 10. What is Bitcoin? Like Poundsbut more "limited"
  • 11. What is Bitcoin? Like Paypalbut more chaotic
  • 12. What is Bitcoin?Like Second Life money but you can buy stuff
  • 13. Bitcoin MIGHT BE: Bitcoin IS...
  • 14. Bitcoin IS...Bitcoin MIGHT BE: Relatively fast (to anywhere) (~ 10 minutes)
  • 15. Bitcoin IS...Bitcoin MIGHT BE: Relatively free (to anywhere)
  • 16. Bitcoin IS...Bitcoin MIGHT BE: Relatively transparent http://www.bbc.co.uk/news/technology-19633980
  • 17. Bitcoin IS...Bitcoin MIGHT BE: Hackable
  • 18. Bitcoin IS...Bitcoin MIGHT BE: Your responsibility"Bitcoin doesnt ask that users trust anyinstitution.Its security is based on cryptography." - Bitcoin FAQ
  • 19. Bitcoin is NOT...
  • 20. Bitcoin is NOT... Not (totally) Instant
  • 21. Bitcoin is NOT... Not (totally) Anonymous
  • 22. Bitcoin is NOT... Not for the Faint-Hearted?http://www.bbc.co.uk/news/technology-19486695
  • 23. Bitcoin is NOT... Not Illegal
  • 24. Bitcoin is NOT...Not necessarily easy to get
  • 25. Bitcoin is NOT... Not too stable (yet)
  • 26. BTC vs USD Source
  • 27. Bitcoin is NOT...Not great for Offline (yet?)
  • 28. Bitcoin is NOT...Not Tested For Hundreds of Years (yet)"Bitcoin is an experimental, virtual currency that may succeed or may fail. " - Bitcoin FAQ
  • 29. Bitcoin is NOT... Not a Pyramid Scheme
  • 30. The Bitcoin Pyramid
  • 31. The Bitcoin Pyramid The Bitcoin Stack You are here? Community Economy Payments SoftwareProtocol (Rules)
  • 32. 1. Protocol
  • 33. Protocol 1. ProtocolWho owns whichnumbers?Public/Private Keys are awesome
  • 34. Protocol 1. ProtocolWho keeps trackof it all?
  • 35. Protocol 1. ProtocolWhere do Bitcoinscome from?
  • 36. Protocol 1. Protocol Crypto Power = Verified Ownership
  • 37. Protocol 1. Protocol Computing Power = Verified History
  • 38. 1. Protocolhttp://anonymity-in-bitcoin.blogspot.co. uk/
  • 39. 2. Software
  • 40. Software 2. SoftwareClients
  • 41. Software 2. SoftwareClients
  • 42. Software 2. SoftwareAPIs, Hackability e.g. blockchain.info rugatu.com satoshidice.com
  • 43. Software 2. SoftwareMaking the virtual physical Coins Cheques Cards Print-your-own* Physical wallets
  • 44. 3. Payments
  • 45. 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?)
  • 46. Payments 3. PaymentsHow can I get me some? PingIt!
  • 47. 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
  • 48. Payments 3. Payments
  • 49. Payments Skip Adwww.blocknois.es
  • 50. 3. PaymentsWiki list of tradersSource
  • 51. Payments 3. PaymentsHow do I pay?196uGPvLidBWE9M7xT8QBk6Bj8qmUxFdMf Hmmm. Catchy.
  • 52. Payments 3. PaymentsQR Codes
  • 53. Payments 3. PaymentsFirst Bitshttp://blockchain.info/address/196uGPvLidBWE9M7xT8QBk6Bj8qmUxFdMfFirst Bits: 196ugp(Only after first use though)
  • 54. Bitcoin in Action http://blockchain.info/wallet
  • 55. Payments 3. PaymentsThird PartiesSlowly appearinge.g. www.bitpay.comEffort/Value feedback...
  • 56. 4. Economy
  • 57. Economy 4. EconomyWhat is "value"? Usefulness + Demand
  • 58. Economy 4. EconomyWhat is "value"? That is it.
  • 59. Economy 4. EconomyWhat is Bitcoins"usefulness" value? - Ease of use? - Scarcity? - Self-fulfilling value / Speculation? - ... Other?
  • 60. 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 = ...
  • 61. 5. Community
  • 62. Community 5. CommunityIs there a community?Yes and No... Self-Interest vs Network-Interest Hoarders vs Spenders Scammers vs Victims
  • 63. Community 5. CommunityIs there a community? More responsiiblity = More social feedback
  • 64. Community 5. CommunityWhat happens next?* - User friendliness - More openness - Price stability? - Killer app?*(IMHO)
  • 65. Community 5. CommunityHow does Bitcoin scale? Value is floating Difficulty is floating Bitcoins are declining Interest is ... ?
  • 66. Last Slide Interested? Intrigued? Indifferent? Lets talk! bitcoinlife@exmosis.net twitter.com/exmosis bitcoinlife.wordpress.com14nAMRedT3b31miF3bpfMwY2VSe5tF19oD
  • 67. Really Last Slideweusecoins.comBitcoin WikiBitcoin FAQBitcoin Businesses
  • 68. OK Really Last Slide Thanks.