Patrick Murck - Bitcoins: The Universal Currency for Engagement

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Bitcoins are taking the world by storm - an alternate currency that changes the dimensions of privacy, interaction and value management for consumers everywhere. But how can bitcoins be leveraged for loyalty, engagement and gamification? Join Patrick Murck, General Counsel of the Bitcoin Foundation for this eye-opening and insightful talk on one of the most important innovations in finance.

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Patrick Murck - Bitcoins: The Universal Currency for Engagement

  1. 1. MONEY IS BROKENDecentralized Currencyand the Future ofPaymentsPatrick MurckGeneral CounselGsummit 2013
  2. 2. What is Bitcoin?
  3. 3. Tulips!
  4. 4. Something sinister…
  5. 5. What is Bitcoin really?^ Not SatoshiProtocolOS SoftwareCommunity
  6. 6. Development community
  7. 7. A growing user-base
  8. 8. What makes Bitcoin special?PrivateDistributedIrreversibleGlobalScarce
  9. 9. Number of bitcoins in circulation• ~$1.18 trillion USD in circulation– Divisible by 2 decimal places• $1.18 trillion*10^2– 118 trillion spendable units (pennies)• ~11mm bitcoins in circulation (21mm total in 2140)– Divisible by 8 decimal places• 11mm*10^8– 1.1 quadrillion spendable units (Satoshis)
  10. 10. How does bitcoin work?
  11. 11. Open transaction network
  12. 12. What problem does Bitcoin solve?MicrotransactionsDirect User MonetizationThe Internet’s Reference Currency
  13. 13. The Internet’s reference currency
  14. 14. Is it safe?VolatilityHackers
  15. 15. Is it legal?FinCEN
  16. 16. What does the future hold?It’s up to you!
  17. 17. Thank You!Patrick MurckGeneral Counselpatrick@bitcoinfoundation.org703.608.8864@virtuallylaw

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