Bitcoin for Noobs

for noobs http://bit.ly/bitcoinfornoobs/ @mikegreenberg South Florida Hack and Tell July 9th, 2011Monday, July 18, 2011

http://www.ﬂickr.com/photos/anijdam/2585351373Monday, July 18, 2011

http://www.ﬂickr.com/photos/jeco/2246667886Monday, July 18, 2011

(Not really slaves.) http://www.ﬂickr.com/photos/copleys/1842040675Monday, July 18, 2011

Monday, July 18, 2011

http://www.ﬂickr.com/photos/siutou_amy/1751631879Monday, July 18, 2011

Limited Supply Fiat Currency Abundant NeedMonday, July 18, 2011

http://www.ﬂickr.com/photos/truthout/4603014252Monday, July 18, 2011

Monday, July 18, 2011

The World’s First Decentralized Digital CurrencyMonday, July 18, 2011

The World’s First Decentralized Digital Currency Huh!? http://www.ﬂickr.com/photos/photojonny/2268845904Monday, July 18, 2011

That’s right! DecentralizedMonday, July 18, 2011

No Centralized Authority Needed http://www.ﬂickr.com/photos/afagen/2390552902Monday, July 18, 2011

How could that possibly work?!Monday, July 18, 2011

How could that possibly work?! (you crazy hippie...)Monday, July 18, 2011

Bitcoin Transactions & You a short storyMonday, July 18, 2011

PUB PRIV Bitcoin Ledger Your Bitcoin WalletMonday, July 18, 2011

Your (Actual) Bitcoin WalletMonday, July 18, 2011

PUB PRIV Bitcoin Ledger Your (Abstract) Bitcoin WalletMonday, July 18, 2011

2 btc 12UE2zDKob8a 2 btc RBwW6tL7jpq mwu97ejNB3w A Typical TransactionMonday, July 18, 2011

PRIV 2 btc 12UE2zDKob8a 2 btc RBwW6tL7jpq mwu97ejNB3w A Typical (Signed) TransactionMonday, July 18, 2011

R U ok? Bitcoin Ledger a bitcoin P2P node A Typical (Unveriﬁed, yet Signed) TransactionMonday, July 18, 2011

R U ok? PUB Checking the Signature and Ledger BalancesMonday, July 18, 2011

OK! = 1 conﬁrmation A Typical (Veriﬁed) TransactionMonday, July 18, 2011

1 conﬁrmation P2P ConsensusMonday, July 18, 2011

6 conﬁrmations P2P ConsensusMonday, July 18, 2011

vs Centralized Authority Decentralized Authority DecentralizedMonday, July 18, 2011

One Large Block Chain the digital ledgerMonday, July 18, 2011

new transactions f(x) veriﬁed “block” cryptographic characteristics Gathering New TransactionsMonday, July 18, 2011

} New Block Block Chain ... A Chain of TrustMonday, July 18, 2011

x ... Validating a New BlockMonday, July 18, 2011

Bitcoin Mining (yes. like gold, only there’s still something to ﬁnd.)Monday, July 18, 2011

Logarithmic Bitcoin Seeding over TimeMonday, July 18, 2011

Show and TellMonday, July 18, 2011

Questions? @mikegreenberg Bitcoin Donations: 12UE2zDKob8aRBwW6tL7jpqmwu97ejNB3wMonday, July 18, 2011

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by mikegreenberg