1
What is Bitcoin & How You Can Profit from it?
Colbert Low, BitcoinMalaysia.com
24 August 2013, 9am. Saturday. Malaysia t...
2
Who is Colbert Low?
- Listed on Bitcoin Foundation as Colbert Low
- Featured on Personal Money magazine (Malaysia) May 2...
3
Team Members - BitcoinMalaysia.com
Mr Ragu. – COO. Mr Sasi Kumar - Business Consultant
Systems and Project management ex...
4
Bitcoin in the News
5
I found out about Bitcoins back in June 2012
 Digital Currency / Cryto Currency / eCash
 Created by computers through ...
6
What is Bitcoin?
- Bitcoin or BTC, is a hybrid protocol.
a. Magic internet money, e-cash, crypto-currency.
b. Global Pay...
7
What is Bitcoin?
** Decentralized peer-to-peer (P2P) system. NO CENTRAL SERVERS.
* Bitcoin servers ran by Bitcoin Miners...
8
What is Bitcoin?
- Bitcoin (BTC) is divisible into 8 decimals.
 Low transaction fees / network fee of 0.005 BTC
 Lower...
9
What is Bitcoin? – Digital asset that has perceived value!
Bitcoin (BTC) price is volatile.
4 November 2012 – High of US...
10
What is Bitcoin? –
In the past 12 months, has risen in value compared to other fiat currencies
http://www.xe.com/curren...
11
What is Bitcoin? –
20 Aug 2013 - In the past 1 year (12 months), Bitcoin has risen 789.76% compared to USD
http://www.c...
12
What is Bitcoin ? : Global Payment System
BitPay offers plugins for popular shopping carts and billing systems:
WP e-Co...
13
What is Bitcoin ? : Paying with Bitcoin
Typical Bitcoin (BTC) checkout page:
14
Bitcoin: Getting Started
- Bitcoin Wallets – online, offline type
- Get Bitcoins – Buy Bitcoins, Bitcoin mining
15
Bitcoin: Getting Started
- Bitcoin Wallet - APP
1. Blockchain Wallet , Android version – https://blockchain.info/wallet...
16
Bitcoin: Getting Started
- Bitcoin Wallet - APP
1. Blockchain Wallet , Apple iTunes version –
DOWNLOAD from Apple iTune...
17
Bitcoin: Getting Started
- Bitcoin Wallet – Web based
1. Blockchain Wallet, web based – https://blockchain.info/wallet/...
18
Bitcoin: Getting Started
- Bitcoin Wallet – Windows/Linux PC
2. Electrum Bitcoin Client - http://electrum.org
3. Bitcoi...
19
Bitcoin: Getting Started
- Bitcoin Wallet
5. MultiBit v0.5.12, download for Windows, Mac, and Linux. - https://multibit...
20
How do I get Bitcoins?
1. Buy Bitcoins
2. Get Free Bitcoins
3. Bitcoin Mining
21
How do I get Bitcoins : Buy Bitcoins
Ringgit Malaysia (MYR) <> BTC
USD / SGD / AUD <> BTC
1. dgtmkt.com ( Chua u-Zyn) O...
22
How do I get Bitcoins : Buy Bitcoins
USD / SGD / EURO / AUD <> BTC
1. fybsg.com – First Singapore Bitcoin Exchange.
2. ...
23
How do I get Bitcoins : Get Free Bitcoins
Bitcoins faucet :
http://www.btctrade.org/index.html
Chat and Get Free Bitcoi...
24
How do I get Bitcoins : Bitcoin Mining
Bitcoins are generated (or "mined") by the following process: Cryptographic
puzz...
25
How do I get Bitcoins : Bitcoin Mining
Hardware: CPU > GPU > FPGA > ASIC
 FPGA units
 Unit Speed & Efficiency of 840+...
26
How do I get Bitcoins : Bitcoin Mining
Hardware: CPU > GPU > FPGA > ASIC
ASIC vendors : Butterfly Labs (BFL), Avalon, A...
27
How do I get Bitcoins : Bitcoin Mining
Hardware: CPU > GPU > FPGA > ASIC
ASIC vendors : Butterfly Labs (BFL), Avalon, A...
28
How do I get Bitcoins : Bitcoin Mining
Hardware: CPU > GPU > FPGA > ASIC
ASIC vendors : Butterfly Labs (BFL), Avalon, A...
29
How do I get Bitcoins : Bitcoin Mining
Software:
bitcoin-qt v0.8.3,
cgminer,
30
How do I get Bitcoins : Bitcoin Mining
Software:
bfgminer v 3.1.3,
Easyminer (for BFL ASICs)
31
I've got Bitcoins : So what now?
1. Keep them. They will rise in value.
2. Invest in Virtual Shares – www.btct.co
3. Ge...
32
I've got Bitcoins : So what now?
1. Keep them (hoarding). They will rise in value.
a. John (John K.) (bitcointalk.org)
...
33
I've got Bitcoins : So what now?
1. Keep them (hoarding). They will rise in value.
c. Trezor BTC hardware wallet. – saf...
34
I've got Bitcoins : So what now?
1. Keep them (hoarding). They will rise in value.
Rick Falkvinge – Rickard "Rick" Falk...
35
I've got Bitcoins : So what now?
2. Buy Virtual Shares – https://btct.co/security/ASICMINER-PT
8 Feb 2013 – 0.1 BTC per...
36
I've got Bitcoins : So what now?
2. Buy Virtual Shares – or Bitcoin ETF on Wall Street (coming soon)
Winklevoss twins f...
37
I've got Bitcoins : So what now?
3. Get yield on your BTC – www.Co??????????.com
For more details, Buy our Bitcoin Eboo...
38
I've got Bitcoins : So what now?
4. Trade or Arbitrage (manual) with Bitcoins – Different price on different exchanges
...
39
I've got Bitcoins : So what now?
4. Trade or Arbitrage (manual) with Bitcoins - https://www.mybtc-trader.com/
40
I've got Bitcoins : So what now?
5. Arbitrage (automated) with Bitcoins and various digital / alt-coins
* Tentative lau...
41
I've got Bitcoins : So what now?
6. Get more Bitcoins – Be a Consultant or Sell services
http://www.REDDIT.COM/r/Jobs4b...
42
I've got Bitcoins : So what now?
7. Margin Trading with Bitcoins – btc.sx AND plus500.com
https://btc.sx/
 Profit usin...
43
Bitcoin Escrow: Don't get scammed!
An escrow-like service that allows safer payment by securely holding
a buyer's BTC i...
44
Bitcoin: Famous People
Martti Malmi aka Sirius (Finland) - Operates the host for bitcoin.org and is an administrator of...
45
Bitcoin: Famous People
Gavin Andresen- (Profile) Satoshi client maintainer. He previously worked at Silicon Graphics an...
46
Bitcoin: Famous People
Mark Karpeles aka MagicalTux- Owner of the largest Bitcoin exchange, MtGox.
Mike Hearn - Google ...
47
Read:
https://bitcointalk.org - Forum (ninjaboon)
http://en.wikipedia.org/wiki/Bitcoin - Basics
https://www.weusecoins....
48
The END. Thank you!
Colbert Low
Email: admin@bitcoinmalaysia.com
www.btc-asia.com
www.bitcoinmalaysia.com
https://www.f...
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KC Lau Bitcoin Webinar 24 aug 2013

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KC Lau Bitcoin Webinar 24 aug 2013 Kuala Lumpur

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KC Lau Bitcoin Webinar 24 aug 2013

  1. 1. 1 What is Bitcoin & How You Can Profit from it? Colbert Low, BitcoinMalaysia.com 24 August 2013, 9am. Saturday. Malaysia time Hosted by KCLau.com Online Seminar (Webinar)
  2. 2. 2 Who is 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 [www.BitAngels.co ] World’s first distributed veteran entrepreneur and angel Bitcoin investor group ; - Runs a Bitcoin Escrow System at www.BTC-Asia.com
  3. 3. 3 Team Members - BitcoinMalaysia.com Mr Ragu. – COO. Mr Sasi Kumar - Business Consultant Systems and Project management experience for over 15 years. Domain experience in banking, hotel management, and IT. Sasi has over 15 years of IT domain experience and is currently the Request Manager for Global Business Continuity Services in a Global MNC.
  4. 4. 4 Bitcoin in the News
  5. 5. 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. 6. 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. 7. 7 What is Bitcoin? ** Decentralized peer-to-peer (P2P) system. NO CENTRAL SERVERS. * Bitcoin servers ran by Bitcoin Miners (Bitcoin Nodes) * No central server unlike other payment systems like Paypal, eGold, Liberty Reserve, etc. * Uses SHA-256 as the underlying cryptographic hash function. * More secure. Protected from DDOS attacks. http://getaddr.bitnodes.io/39/ - As of 19 August 2013, there's about 11.57 million BTC out there. Maximum circulation is about 21 million (reached in 2140). http://bitcoincharts.com/
  8. 8. 8 What is Bitcoin? - Bitcoin (BTC) is divisible into 8 decimals.  Low transaction fees / network fee of 0.005 BTC  Lower transaction fees for merchants – > Compare: Credit cards 2-3% or Paypal (2.9% + RM2.00 MYR onwards.) Bips.me / Bitpay.com Bitcoin Payment Processor : 1%  Borderless  Faster
  9. 9. 9 What is Bitcoin? – Digital asset that has perceived value! Bitcoin (BTC) price is volatile. 4 November 2012 – High of USD 15 (MYR 42) 4 April 2013 – High of USD 266 (MYR 703) – Cyprus problem http://bitcoinwisdom.com
  10. 10. 10 What is Bitcoin? – In the past 12 months, has risen in value compared to other fiat currencies http://www.xe.com/currencycharts/?from=XBT&to=MYR&view=1Y
  11. 11. 11 What is Bitcoin? – 20 Aug 2013 - In the past 1 year (12 months), Bitcoin has risen 789.76% compared to USD http://www.cnbc.com/id/100971898
  12. 12. 12 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. https://bitpay.com
  13. 13. 13 What is Bitcoin ? : Paying with Bitcoin Typical Bitcoin (BTC) checkout page:
  14. 14. 14 Bitcoin: Getting Started - Bitcoin Wallets – online, offline type - Get Bitcoins – Buy Bitcoins, Bitcoin mining
  15. 15. 15 Bitcoin: Getting Started - Bitcoin Wallet - APP 1. Blockchain Wallet , Android version – https://blockchain.info/wallet/ DOWNLOAD from Google Play Store: https://play.google.com/store/apps/details?id=piuk.blockchain.android&hl=en By Qkos Services Ltd
  16. 16. 16 Bitcoin: Getting Started - Bitcoin Wallet - APP 1. Blockchain Wallet , Apple iTunes version – DOWNLOAD from Apple iTunes Store: https://play.google.com/store/apps/details?id=piuk.blockchain.android&hl=en By Qkos Services Ltd
  17. 17. 17 Bitcoin: Getting Started - Bitcoin Wallet – Web based 1. Blockchain Wallet, web based – https://blockchain.info/wallet/ By Qkos Services Ltd
  18. 18. 18 Bitcoin: Getting Started - Bitcoin Wallet – Windows/Linux PC 2. Electrum Bitcoin Client - http://electrum.org 3. Bitcoin-QT aka Original Bitcoin Client - http://bitcoin.org 4. Armory, Advanced Bitcoin Client - http://bitcoin.org
  19. 19. 19 Bitcoin: Getting Started - Bitcoin Wallet 5. MultiBit v0.5.12, download for Windows, Mac, and Linux. - https://multibit.org
  20. 20. 20 How do I get Bitcoins? 1. Buy Bitcoins 2. Get Free Bitcoins 3. Bitcoin Mining
  21. 21. 21 How do I get Bitcoins : Buy Bitcoins Ringgit Malaysia (MYR) <> BTC USD / SGD / AUD <> BTC 1. dgtmkt.com ( Chua u-Zyn) Online Maybank transfers. 2. Localbitcoins.com ( Jeremias Kangas ) COD, online. Look for user: btcmalaysia 3. coinjar.io - Asher Tan (CEO), Jerrold Poh, Ryan Zhou. Melbourne-based startup in Australia. Founded in 2013, AngelCube provided them seed funding and mentorship. Asher is a Malaysian.
  22. 22. 22 How do I get Bitcoins : Buy Bitcoins USD / SGD / EURO / AUD <> BTC 1. fybsg.com – First Singapore Bitcoin Exchange. 2. bitstamp.net – Slovenia Bitcoin Exchange. 3. Crypto-trade.com – Hong Kong. Accepts Perfect Money, Okpay. 4. MtGox.com – based in Tokyo, Japan.
  23. 23. 23 How do I get Bitcoins : Get Free Bitcoins Bitcoins faucet : http://www.btctrade.org/index.html Chat and Get Free Bitcoins : http://coinchat.org
  24. 24. 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. 25. 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.  BTCFpga.com or ModMinerQuadStore.com– owned byTom aka cablepair  Sells for USD $1,069.99 or MYR 3424.
  26. 26. 26 How do I get Bitcoins : Bitcoin Mining Hardware: CPU > GPU > FPGA > ASIC ASIC vendors : Butterfly Labs (BFL), Avalon, ASICminer, BitFury, KnCMiner, Terrahash, virtualminingcorp.com Below : Butterfly Labs (BFL) ASIC aka Jalapeno BTC mining server, 5 Giga hashes per second (GH/s), cost about MYR 999. Shipping date: unknown ROI calculator : http://mining.thegenesisblock.com
  27. 27. 27 How do I get Bitcoins : Bitcoin Mining Hardware: CPU > GPU > FPGA > ASIC ASIC vendors : Butterfly Labs (BFL), Avalon, ASICminer, BitFury, KnCMiner, Terrahash, virtualminingcorp.com Below : Butterfly Labs (BFL) ASIC mining server, 5 GH/s aka Jalapeno, cost about MYR 999. More pics
  28. 28. 28 How do I get Bitcoins : Bitcoin Mining Hardware: CPU > GPU > FPGA > ASIC ASIC vendors : Butterfly Labs (BFL), Avalon, ASICminer, BitFury, KnCMiner, Terrahash, virtualminingcorp.com http://mining.thegenesisblock.com/
  29. 29. 29 How do I get Bitcoins : Bitcoin Mining Software: bitcoin-qt v0.8.3, cgminer,
  30. 30. 30 How do I get Bitcoins : Bitcoin Mining Software: bfgminer v 3.1.3, Easyminer (for BFL ASICs)
  31. 31. 31 I've got Bitcoins : So what now? 1. Keep them. They will rise in value. 2. Invest in Virtual Shares – www.btct.co 3. Get interests on your BTC – www.Co????????.com 4. Trade or Arbitrage 5. Get more Bitcoins – Be a Consultant or Sell services
  32. 32. 32 I've got Bitcoins : So what now? 1. Keep them (hoarding). They will rise in value. a. John (John K.) (bitcointalk.org) b. Paper wallets. https://safepaperwallet.com/
  33. 33. 33 I've got Bitcoins : So what now? 1. Keep them (hoarding). They will rise in value. c. Trezor BTC hardware wallet. – safe, offline. http://bitcointrezor.com/
  34. 34. 34 I've got Bitcoins : So what now? 1. Keep them (hoarding). They will rise in value. Rick Falkvinge – Rickard "Rick" Falkvinge is a Swedish IT entrepreneur known as the founder and first party leader of the Swedish Pirate Party. “That means that each bitcoin would be worth $100,000 at the low market cap and $1,000,000 at the high market cap.” http://falkvinge.net/2013/03/06/the-target-value-for-bitcoin-is-not-some-50-or-100-it-is-100000-to-1000000/
  35. 35. 35 I've got Bitcoins : So what now? 2. Buy Virtual Shares – https://btct.co/security/ASICMINER-PT 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.
  36. 36. 36 I've got Bitcoins : So what now? 2. Buy Virtual Shares – or Bitcoin ETF on Wall Street (coming soon) Winklevoss twins file for $20 million Bitcoin IPO Tyler and Cameron Winklevoss, the key backers of Bitcoin, have filed with the US Securities and Exchange Commission (SEC) to set up an exchange – traded fund for the virtual currency to popularize it, and allow it to be traded like stocks or commodities. http://rt.com/business/winklevoss-twins-bitcoin-ipo-520/ The Winklevoss twins, also called the Winklevii, finally settled their Facebook lawsuit in 2008, and walked away with USD $148 million worth of Facebook stock based on today's stock price. (It's unclear whether they have sold any of their shares). http://money.cnn.com/2013/07/02/investing/winklevoss -bitcoin-etf/index.html
  37. 37. 37 I've got Bitcoins : So what now? 3. Get yield on your BTC – www.Co??????????.com For more details, Buy our Bitcoin Ebook Version 1: http://bitcoinmalaysia.com/product/bitcoin-ebook-version-1/ Sale price MYR 19.90 (till 31 Aug 2013). Normal price MYR 49.90
  38. 38. 38 I've got Bitcoins : So what now? 4. Trade or Arbitrage (manual) with Bitcoins – Different price on different exchanges http://bitcoinaverage.com/
  39. 39. 39 I've got Bitcoins : So what now? 4. Trade or Arbitrage (manual) with Bitcoins - https://www.mybtc-trader.com/
  40. 40. 40 I've got Bitcoins : So what now? 5. Arbitrage (automated) with Bitcoins and various digital / alt-coins * Tentative launch date: 1 October 2013 * Subscribe to our BitcoinMalaysia.com newsletter for updates
  41. 41. 41 I've got Bitcoins : So what now? 6. Get more Bitcoins – Be a Consultant or Sell services http://www.REDDIT.COM/r/Jobs4bitcoins https://BITCOINTALK.ORG/index.php?board=52.0 (marketplace)
  42. 42. 42 I've got Bitcoins : So what now? 7. Margin Trading with Bitcoins – btc.sx AND plus500.com https://btc.sx/  Profit using Long and Short positions  Bitcoin Hedging - Prevent loss from a falling Bitcoin price  Position management, automatic liquidation and stops  No complex margin maintenance requirements http://www.plus500.com/Instruments/BTCUSD
  43. 43. 43 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. http://btc-asia.com
  44. 44. 44 Bitcoin: Famous People Martti Malmi aka Sirius (Finland) - Operates the host for bitcoin.org 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 (http://multibit.org) and BitCoinJ (http://code.google.com/p/bitcoinj/) projects. Working on various Bitcoin based businesses. Martti Malmi Charlie Shrem Gary Rowe
  45. 45. 45 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 Bitpay.com Gavin Andresen Hal Finney Jeff Garzik
  46. 46. 46 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 (http://code.google.com/p/bitcoinj/) Roger Ver aka Bitcoin Jesus– BitInstant LLC Director of Marketing. He is also the CEO of MemoryDealers.com Vladimir Marchenko - runs Marchenko Ltd which sells mining contracts, previously developed the figator.org search engine. Roger Ver Mark Karpeles Mike Hearn Roger Ver Vladimir Marchenko
  47. 47. 47 Read: https://bitcointalk.org - Forum (ninjaboon) http://en.wikipedia.org/wiki/Bitcoin - Basics https://www.weusecoins.com - Basics http://btc.re – BTC charts http://bitjoy.org – BTC charts http://bitcoinity.org/markets – BTC charts https://cryptrader.com - BTC Trading Platform http://www.blockrun.com - Auctions http://coinmade.org - bitcoin merchant directory http://www.reddit.com/r/Bitcoin/ - News http://bitcoinmagazine.com - News http://havelockinvestments.com
  48. 48. 48 The END. Thank you! Colbert Low Email: admin@bitcoinmalaysia.com www.btc-asia.com www.bitcoinmalaysia.com https://www.facebook.com/BTCMalaysia WhatsApp: +601111725850 Scan myVcard above!
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