FAHAD.P
12351046
About bitcoin?
 The Bitcoin was developed by Satoshi
Nakamoto in 2009.
 Used in peer-to-peer transactions in which
parti...
 Bitcoins can be obtained by mining or in
exchange for products, services, or
other currencies.
 Traded/exchanged throug...
Growth of bitcoin..
legal status by country’s :
YES RESTRICTED NO
How do bitcoins look like?
16UwLL9Risc3QfPqBUvKofHmBQ7wMtjvM
Public key: 32 characters starting with 1 or 3
Private key: 5...
Advantages
 Avoid the taxation of the savings
 Independent from Government.
 Anonymity
 It cannot be used twice
 Simp...
Bitcoin trading accounts
banned in China: report
 The People's Bank of China, the nation's central
bank, has ordered bank...
Reasons for ban or
Disadvantages
 Anonymity
 Transactions are uncontrollable.
 Not safe for the average computer user.
...
Conclusion
As long as people give
you beer for it, it's real
money.
Thank you..
$Bitcoin$
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$Bitcoin$

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$Bitcoin$

  1. 1. FAHAD.P 12351046
  2. 2. About bitcoin?  The Bitcoin was developed by Satoshi Nakamoto in 2009.  Used in peer-to-peer transactions in which participating parties recognize its value.  No central bank or clearing house, no financial regulator, not tied to any currency • Bitcoin are stored and sent through e-wallets
  3. 3.  Bitcoins can be obtained by mining or in exchange for products, services, or other currencies.  Traded/exchanged through online virtual currency exchanges (Mt. Gox,TradeHill).  Approximately 11 million Bitcoin have been mined, 21 million Bitcoin in total.  Bitcoin is stored in such a way that the new owner is the only person allowed to spend it.  Bitcoin’s value cannot be debased by any government.  Bitcoin ATM counters.
  4. 4. Growth of bitcoin..
  5. 5. legal status by country’s : YES RESTRICTED NO
  6. 6. How do bitcoins look like? 16UwLL9Risc3QfPqBUvKofHmBQ7wMtjvM Public key: 32 characters starting with 1 or 3 Private key: 51 characters starting with 5  As on 2-4-2014 : 1 BTC = 468.2 USD 1 BTC = 27900 INR
  7. 7. Advantages  Avoid the taxation of the savings  Independent from Government.  Anonymity  It cannot be used twice  Simple, cheap and fast.  Transactions at any time.  No neeed of physical presence of traders.
  8. 8. Bitcoin trading accounts banned in China: report  The People's Bank of China, the nation's central bank, has ordered banks and third-party payment companies to close all bitcoin trading accounts at more than 15 exchanges across the country, the Shanghai-based China Business News reports.  The bank had recently issued a notice prohibiting domestic banks and third-party payment institutions from allowing bitcoin transactions, a source told the newspaper.(29-3-2014)  )
  9. 9. Reasons for ban or Disadvantages  Anonymity  Transactions are uncontrollable.  Not safe for the average computer user.  Competing digital currency  Cannot buy stuff.  Unstable or Limited confidence in Bitcoin
  10. 10. Conclusion As long as people give you beer for it, it's real money. Thank you..

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