Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Cryptocurrencies - A Serious Introduction


Published on

A high level overview of the world of Cryptocurrencies, liberally illustrated with Doge memes.

This was a lightning talk (5-7 minutes), so it scratches the surface, hopefully enough to get you interested in the world of cryptocoins.

It begins with the basic definitions, the reasons to use and accept cryptocurrency, the main currencies (Bitcoin, Litecoin, Dogecoin), the many altcoins and their distinguishing factors, and finally introduces you to cryptocoin mining (producing your own coins using your computer).

Published in: Economy & Finance

Cryptocurrencies - A Serious Introduction

  1. 1. Cryptocurrencies A Serious Introduction Drake Emko Revionics
  2. 2. Cryptocurrency: What? It is a Digital Currency that uses cryptology for security Decentralized Not issued by any central authority Trust based on peer-to-peer consensus Anonymous (More or less) Transactions are not tied to your identity Wow? Bitcoin is the first and most popular cryptocurrency, created in 2009
  3. 3. Why? For Businesses No (or low) transaction fees compared to credit cards! Built in customer base of cryptocurrency enthusiasts Source:
  4. 4. Why? For Users Distrust of government surveillance, currency manipulation FUN Community Mining Currency trading Maybe get rich!
  5. 5. Cryptocurrency: Which? Bitcoin Biggest Most valuable Litecoin Second biggest (arguably) Easier to Mine Dogecoin Silliest Best community
  6. 6. All of the Rest! source:
  7. 7. Not All Coins Are Equal Source:
  8. 8. Developments - Mining Proof of Work (PoW) algorithms Old School - Only big mining farms using ASICs can profit SHA-256 - Bitcoin Next Generation - Make algorithm more memory intensive, give GPU miners a chance! Scrypt - Litecoin, Dogecoin Brave New World - Defeat the first generation of ASICs! Scrypt-N, X11, X13 - Vertcoin, Darkcoin, CloakCoin such environmental!
  9. 9. More Developments Proof of Stake (PoS) - Earn coins by holding them (like interest) Pandacoin (PND), Reddcoin, Bottlecaps Improved anonymity Darkcoin, Monero, Anoncoin Outside the Box! Colored Coins - Create your own currency on the Bitcoin network Mastercoin, Bitshares, Counterparty - Financial derivatives, savings wallets, decentralized exchange Ethereum - Framework and programming language for creating cryptocurrencies such advanced!
  10. 10. How to Mine Coins CPU Mining Download:
  11. 11. How to Mine Coins GPU Mining such efficient! Download: Mac Miner cgminer & more
  12. 12. How to Mine Coins ASIC Mining Fastest Expensive such such such fast much warn: most hardware companies = SCAM
  13. 13. How to Mine Coins Entry Level ASICs: try Ebay less bankrupt!
  14. 14. Buying and Selling Cryptocurrency Exchanges Mintpal Cryptsy Bittrex & more
  15. 15. How To Use Coins Tipping on social media Donate to good causes Buy stuff!
  16. 16. New Frontiers Such many apps to develop! Everything is new...