Bitcoin
Crypto Currency
by: M@
Bitcoin is a distributed, peer-to-peer digital currency
that functions without the intermediation of any
central authority...
Virtual Currency vs. Gold

Gold

Bitcoin

Scarce (21m^3)
Spend Once
Supply
Portable

Scarce (21 mil)
Spend Once
Supply
Por...
Dependant Technologies
Cryptography: Asymmetric Keys (Pub/Priv)
Hash Functions
Peer to Peer networking
Open Source Softwar...
Exchanging Bitcoins
Bob -> Alice
Bob includes his public key and Alice’s public
key plus an amount of bitcoin and signs wi...
Blocks
● A collection of accepted transactions
● Chained to all previous blocks by including the hash of
the previous bloc...
Mining
New bitcoins are
generated when a
node finds the
solution to a hard
problem, finding a
hash for the current
block c...
Probability of Generating a Coin
Your CPU Power
Total Network CPU Power

BitCoinX.com/profit
How to Get Bitcoins
Buy from someone: LocalBitcoins.com
Mt. Gox Exchange: MtGox.com
Work for them: reddit.com/r/Jobs4Bitco...
Related/Similar Projects
Mt. Gox : Currency Exchange
NameCoin : DotBit
BitVegas.net: MineCraft Based Gambling
Silk Road
Bi...
References
The original Paper: bitcoin.org/bitcoin.pdf
Security Now Podcast: www.grc.com/sn/sn-287.htm
BitCoin Wallet for ...
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Bitcoin

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Bitcoin

  1. 1. Bitcoin Crypto Currency by: M@
  2. 2. Bitcoin is a distributed, peer-to-peer digital currency that functions without the intermediation of any central authority. The concept was introduced in a 2008 paper by a pseudonymous developer known only as "Satoshi Nakamoto". Wikipedia, 2013
  3. 3. Virtual Currency vs. Gold Gold Bitcoin Scarce (21m^3) Spend Once Supply Portable Scarce (21 mil) Spend Once Supply Portable +++
  4. 4. Dependant Technologies Cryptography: Asymmetric Keys (Pub/Priv) Hash Functions Peer to Peer networking Open Source Software
  5. 5. Exchanging Bitcoins Bob -> Alice Bob includes his public key and Alice’s public key plus an amount of bitcoin and signs with Bob’s private key Broadcast into block chain into network Verifiable by anyone (i.e. Bob & Alice) Problem: Stop Bob from respending same bitcoin
  6. 6. Blocks ● A collection of accepted transactions ● Chained to all previous blocks by including the hash of the previous block ● Jan 3, 2009 : The Anchor/Genesis Block created ● New nodes are aware of the complete history ● Creating a new block == Cha Ching
  7. 7. Mining New bitcoins are generated when a node finds the solution to a hard problem, finding a hash for the current block chain block
  8. 8. Probability of Generating a Coin Your CPU Power Total Network CPU Power BitCoinX.com/profit
  9. 9. How to Get Bitcoins Buy from someone: LocalBitcoins.com Mt. Gox Exchange: MtGox.com Work for them: reddit.com/r/Jobs4Bitcoins
  10. 10. Related/Similar Projects Mt. Gox : Currency Exchange NameCoin : DotBit BitVegas.net: MineCraft Based Gambling Silk Road BitcoinSwearJar.COM
  11. 11. References The original Paper: bitcoin.org/bitcoin.pdf Security Now Podcast: www.grc.com/sn/sn-287.htm BitCoin Wallet for Android: Author Andreas Schildbach Wiki + More : BitCoin.org Reddit: reddit.com/r/BitCoin
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