Bitcoin presentation webcamp cyberjaya 25 july 2013
Upcoming SlideShare
Loading in...5

Bitcoin presentation webcamp cyberjaya 25 july 2013



Talked about Bitcoin at Webcamp Cyberjaya on 25 july 2013

Talked about Bitcoin at Webcamp Cyberjaya on 25 july 2013



Total Views
Views on SlideShare
Embed Views



1 Embed 527 527


Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
Post Comment
Edit your comment

Bitcoin presentation webcamp cyberjaya 25 july 2013 Bitcoin presentation webcamp cyberjaya 25 july 2013 Presentation Transcript

  • 1 Bitcoin 101 – Virtual Currency Basics Colbert Low, 25 July 2013, WebCamp Cyberjaya
  • 2 Colbert Low, - Listed on Bitcoin Foundation as Colbert Low - Featured on Personal Money magazine (Malaysia) May 2013; - Featured on Business Times Singapore ; - Verified account at bitcoin-otc IRC (user: ninjaboon) ; - Listed on BTCXperts; - Listed on Lifeboat Foundation as Colbert Low; - City Leader (Malaysia) for BitAngels [ ] World’s first distributed veteran entrepreneur and angel Bitcoin investor group ;
  • 3 Team Members - Mr Ragu. – COO. Systems and Project management experience for over 15 years. Domain experience in banking, hotel management, and IT. Mr Sasi Kumar (above) – Business Consultant. Sasi Kumar has over 15 years of IT domain experience and is currently the Request Manager for Global Business Continuity Services in HP. He was previously an Incident/Problem Manager and Service Improvement Program Consultant, Quality Management Team for Shell Operation Integrators.
  • 4 Bitcoin in the News
  • 5 I found out about Bitcoins back in June 2012  Digital Currency / Cryto Currency / eCash  Created by computers through cryptography (SHA-256)  Bitcoin Mining - Sounds exciting, revolution, distruptive!
  • 6 What is Bitcoin? - Bitcoin or BTC, is a hybrid protocol. a. Magic internet money, e-cash, crypto-currency. b. Global Payment System (any country) - Creator : Satoshi Nakamoto in 3 Jan 2009. Location unknown.
  • 7 What is Bitcoin? - Decentralized peer-to-peer (P2P) system. Bitcoin servers ran by Bitcoin Miners. No central server unlike other payment systems like Paypal, eGold, Liberty Reserve, etc. Users SHA-256 as the underlying cryptographic hash function. - As of 21 July 2013, there's about 11.4 million BTC out there. ( Maximum circulation is about 21 million (reached in 2140).
  • 8 What is Bitcoin? - Bitcoin (BTC) is divisible into 8 decimals.  Low transaction fees / network fee of 0.005 BTC  Lower fees for merchants – > Credit cards 2-3% or Paypal 2.9% + RM2.00 MYR onwards.  Borderless  Faster
  • 9 What is Bitcoin? Bitcoin (BTC) price is volatile. 4 November 2012 – High of USD 15 (MYR 42) 4 April 2013 – High of USD 266 (MYR 851)
  • 10 What is Bitcoin ? : Global Payment System BitPay offers plugins for popular shopping carts and billing systems: WP e-Commerce, Magento, WHMCS, WooCommerce, Ecwid, Opencart, Zen Cart, PrestaShop, Ubercart.
  • 11 What is Bitcoin ? : Paying with Bitcoin Typical Bitcoin (BTC) checkout page:
  • 12 QUIZ TIME! #1 Which is a milliBitcoin (mBTC)? a. 0.01 Bitcoin b. 0.001 Bitcoin c. 0.0001 Bitcoin d. 0.00001 Bitcoin
  • 13 Bitcoin: Getting Started - Bitcoin Wallets – online, offline type - Get Bitcoins – Buy Bitcoins, Bitcoin mining
  • 14 Bitcoin: Getting Started - Bitcoin Wallet 1. Blockchain Wallet , Android version – DOWNLOAD from Google Play Store: By Qkos Services Ltd
  • 15 Bitcoin: Getting Started - Bitcoin Wallet 1. Blockchain Wallet , Apple iTunes version – DOWNLOAD from Apple iTunes Store: By Qkos Services Ltd
  • 16 Bitcoin: Getting Started - Bitcoin Wallet 1. Blockchain Wallet, web based – By Qkos Services Ltd
  • 17 Bitcoin: Getting Started - Bitcoin Wallet 2. Electrum Bitcoin Client - 3. Bitcoin-QT aka Original Bitcoin Client - 4. Armory, Advanced Bitcoin Client -
  • 18 Bitcoin: Getting Started - Bitcoin Wallet 5. MultiBit v0.5.12, download for Windows, Mac, and Linux. -
  • 19 How do I get Bitcoins? 1. Buy Bitcoins 2. Get Free Bitcoins 3. Bitcoin Mining
  • 20 How do I get Bitcoins : Buy Bitcoins Ringgit Malaysia (MYR) <> BTC USD / SGD / AUD <> BTC 1. ( Chua u-Zyn) Online Maybank transfers. 2. ( Jeremias Kangas ) COD, online. 3. - Asher Tan (CEO), Jerrold Poh, Ryan Zhou. Melbourne-based startup. Founded in 2013, AngelCube provided them seed funding and mentorship.
  • 21 How do I get Bitcoins : Buy Bitcoins USD / SGD / EURO / AUD <> BTC 1. – First Singapore Bitcoin Exchange. 2. – Slovenia Bitcoin Exchange. 3. – Hong Kong. Accepts Perfect Money, Okpay. 4. – based in Tokyo, Japan.
  • 22 How do I get Bitcoins : Get Free Bitcoins Bitcoins faucet : Chat and Get Free Bitcoins :
  • 23 QUIZ TIME! #2 Which set of cryptographic hash function is used by Bitcoin (BTC) ? a. SHA-224 b. SHA-256 c. SHA-384 d. SHA-512
  • 24 How do I get Bitcoins : Bitcoin Mining Bitcoins are generated (or "mined") by the following process: Cryptographic puzzles are random-generated at a controlled rate by a computer program, then transmitted to a network of volunteer Bitcoin "miners." Using an open-source software program and powerful computer processors, miners crunch insanely complex calculations to solve the cryptographic puzzles. The first miner to solve the puzzle receives 50 bitcoins (BTC) Block halving : every 4 years (every 210,000 blocks), 28 Nov 2012 – from 50 BTC to 25 BTC per block Naturally, the more processing power a miner has, the faster he can solve the cryptographic puzzles and the more bitcoins he can accumulate. The program will generate puzzles until 2140, when it hits a limit of 21 million bitcoins. Technically, anyone with a computer and a download of the open-source Bitcoin software can become a miner. However, as more miners enter the system two things happen: 1) problems get harder; and 2) processing power escalates.
  • 25 How do I get Bitcoins : Bitcoin Mining Hardware: CPU > GPU > FPGA > ASIC  FPGA units  Unit Speed & Efficiency of 840+Mh/s @ only 40  watts.   or– owned by Tom aka cablepair  Sells for USD $1,069.99   or MYR 3424.
  • 26 How do I get Bitcoins : Bitcoin Mining ASIC vendors : Butterfly Labs (BFL), Avalon, ASICminer, BitFury, KnCMiner, Terrahash, Below : Butterfly Labs (BFL) ASIC aka Jalapeno BTC mining server, 5 Giga hashes per second (GH/s), cost about MYR 877. Shipping date: unknown ROI calculator :
  • 27 How do I get Bitcoins : Bitcoin Mining ASIC vendors : 1.Butterfly Labs (BFL), 2. Avalon, 3. ASICminer, 4. BitFury, 5. KnCMiner, 6. Terrahash, 7. AMC at Below : Butterfly Labs (BFL) ASIC mining server, 5 GH/s aka Jalapeno, cost about MYR 999. More pics
  • 28 How do I get Bitcoins : Bitcoin Mining Software: bitcoin-qt v0.8.3, cgminer,
  • 29 How do I get Bitcoins : Bitcoin Mining Software: bfgminer v 3.1.3, Easyminer (for BFL ASICs)
  • 30 QUIZ TIME! #3 How many types of Bitcoin Wallet did I talk about earlier ? a. 5 b. 4 c. 3 d. 2
  • 31 I've got Bitcoins : So what now? 1. Keep them. They will rise in value. 2. Invest in Virtual Shares – 3. Get interests on your BTC –
  • 32 I've got Bitcoins : So what now? 1. Keep them (hoarding). They will rise in value. a. John (John K.) ( b. Paper wallets.
  • 33 I've got Bitcoins : So what now? 1. Keep them (hoarding). They will rise in value. c. Trezor BTC hardware wallet. d. Multibit running on a Linux PC.
  • 34 I've got Bitcoins : So what now? 2. Invest in Virtual Shares – 8 Feb 2013 – 0.1 BTC per share 21 July 2013 – 4.69 BTC per share ASICMiner has paid out a total of 67,515.09 BTC since first IPO payout on Feb 28th.
  • 35 I've got Bitcoins : So what now? 3. Get interest on your BTC –
  • 36 Bitcoin Escrow: Don't get scammed! An escrow-like service that allows safer payment by securely holding a buyer's BTC in escrow until the terms of the sale are met and as a result the buyer releases payment to the seller.
  • 37 Bitcoin: Famous People Martti Malmi aka Sirius (Finland) - Operates the host for and is an administrator of the Bitcoin Forum. Charlie Shrem – is co-founder of BitInstant LLC and the current CEO. Known on the Bitcoin forums as ‘Yankee’, he has over 5 years experience working with start-ups and business development in the eCommerce industry. Gary Rowe (Profile) – Contributor to the MultiBit ( and BitCoinJ ( projects. Working on various Bitcoin based businesses. Martti Malmi Charlie Shrem Gary Rowe
  • 38 Bitcoin: Famous People Gavin Andresen- (Profile) Satoshi client maintainer. He previously worked at Silicon Graphics and now runs his own company. Hal Finney- one of the creators of PGP and one of the earliest contributors to the Bitcoin project. First to identify a type of double-spending attack that now bears his name — the Finney attack. Jeff Garzik- (Wikipedia Entry) Satoshi client core developer, GPU poold software and the founder of Bitcoin Watch. Worked as a Linux kernel developer at Red Hat. Now working for Gavin Andresen Hal Finney Jeff Garzik
  • 39 Bitcoin: Famous People Mark Karpeles aka MagicalTux- Owner of the largest Bitcoin exchange, MtGox. Mike Hearn - Google engineer who works on Gmail and developed BitCoinJ ( Roger Ver aka Bitcoin Jesus– BitInstant LLC Director of Marketing. He is also the CEO of Vladimir Marchenko - runs Marchenko Ltd which sells mining contracts, previously developed the search engine. Roger Ver Mark Karpeles Mike Hearn Roger Ver Vladimir Marchenko
  • 40 Biggest Heists in Bitcoin History Thousands of bitcoins have been lost to theft over the years. Here are the top incidents and number of bitcoins lost: Bitcoin Savings and Trust 200,000 >> pirate@40 MyBitcoin Theft 79,000 Linode Hacks 46,000 July 2012 Bitcoinica Theft 40,000 May 2012 Bitcoinica Hack 18,000 March 2011, Allinvain Theft 25,000 - a long-time Bitcoiner known as Allinvain had 25,000 Bitcoins stolen from an unencrypted digital wallet saved on his Windows computer. Bitfloor Theft 24,000 Hackers Pull Off $12,000 Bitcoin Heist – WIRED (Charlie, BitInstant)
  • 41 QUIZ TIME! #4 How fast is a Butterfly Labs (BFL) Jalapeno server? a. 4 giga hashes per second b. 5 giga hashes per second c. 6 giga hashes per second d. 9 giga hashes per second
  • 42 Prizes sponsored by:
  • 43 Read: - Forum (ninjaboon) - Basics - Basics – BTC charts – BTC charts – BTC charts - BTC Trading Platform - Auctions - bitcoin merchant directory - News - News - Investments
  • 44 The END. Thank you! Colbert Low Email: WhatsApp: +601111725850 Scan my Vcard above!