Bitcoin is a digital currency in which transactions can be performed without the need for a credit card or central bank.

1. By Fatima Radi
Kufa University
College of Computer Science and mathematics

2. Bitcoin is a digital currency in which transactions can be performed without the
need for a credit card or central bank. It's designed to enable users to send
money over the Internet in a very simple and efficient way.
Bitcoin can be compare it with another currencies as dollar and euro
Bitcoin is a decentralized currency that exists through a cloud-network known as
the block chain.
Bitcoin is open-source, meaning anyone can view the source code.
Bitcoin is a peer-to-peer payment system .
The bitcoin system has no central repository and no single administrator, which
has led the US Treasury to call bitcoin a decentralized virtual currency.
Fatima Radi

3. Fatima Radi

4.  under the name satoshi Nakamoto released a software System for bitcoin in japan , Not
only did the software originate there but one of the largest exchanges is there too this
lead many to believe that it is a japanese individual or group that has created bitcoin , but
to date is not yet any verification of the origins of bitcoin creator very little is known about
this persons except that only a year earlier a white paper has been released that outlined
the feasibility for the use of digital currency
 Bitcoin was first mentioned in a 2008 research paper published under the name Satoshi
Nakamoto
from the release of that paper in 2008 the timeline looks likes this
 2009 Nakamoto release a massive assortment of complex algorithms to create Bitcoins as
virtual currency .
 2010 An online order for pizza was paid for in bitcoins .this only three months after the
marketplace was firmly established .it cost a whopping 10k in bitcoins
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5.  2011 bitpay the first official payment processor allowing merchants to accept bitcoins
appears
 mid 2012 is when bitcoin foundation is created . it is a trade group that puts an
emphasis on creating bitcoin standards . the only goal of the foundation is to ensure
that bitcoins become a trusted currency .
 in 2013 bitcoin gets a tremendous boost when the libertarian party begins accepting
political donations through BitPay .
 In April and may of 2013 one of the biggest Bitcoin exchanges has its accounts frozen in
the U.S by the department of Homeland Security
 In early November of 2013 the bitcoin price breaks 800$ and keeps climbing so in a
little less than five years time the bitcoin went from theory to concept to global success
story
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6. Bitcoin is Crypto currency and that it intends to rely mainly on the principles of encryption in
all its aspects, as it is the currency of the first of its kind and the most spread.
Although its status as a currency is disputed, media reports often refer to .bitcoin as a crypto
currency or digital currency
Some of the popular digital currencies are mentioned below
LiteCoin , AltCoin , ByteCoin ,StarCoin , and ect.
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7. The goal: Freedom from the control of greedy people. Bitcoin is a tool to make a
direct payment without the need of a "middleman".
Bitcoin is not going to solve greed, but it can bring more freedom.
Dispense with the central authority fully that creat currency and control the
movement and the establishment of the economy is unknown and hidden
Changing global economy in the same way that changed their Web techniques
Publishing
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9.  Bitcoin transfers value globally instantaneously.
 Confirmations begin to appear in 15 minutes.
 Counterfeit is eliminated
 Creates a standard for global currency
 Improves and encourages global commerce.
 Payments can be transmitted through any digital medium (visual, audio, social
media, etc)
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10.  Commodity: Hard limit of about 21 million BTC
 Based on cryptographic proof instead of trust
 Non-reversible transactions
 Transactions are cheap, and mostly free
 Anonymous
 Degree of acceptance: Many people are still unaware of Bitcoin
 Ongoing development: Bitcoin software is still in beta with many in complete
features in active development
 Take time to verify transactions.
 Require basic knowledge when use bitcoin.
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11. A Satoshi is the smallest fraction of a Bitcoin that can currently be sent:
0.00000001 BTC, that is, a hundredth of a millionth BTC
Further examples of units
1 BTC = 1,000 mBTC (millibitcoin)
1 BTC = 1,000,000 μBTC (microbitcoin)
1 BTC = 100,000,000 Satoshis
1 mBTC = 100,000 Satoshis
1 μBTC (microbitcoin) = 100 Satoshis
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12. • You must subscribe one of the banks electronic to obtain on Code consisting
of letters and numbers
1CqARj6EjN2fGTC2a6tnyeHKRqm2Eyn5zg
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13. Elliptic Curve Digital Signature Algorithm or ECDSA is a cryptographic algorithm used by
Bitcoin to ensure that funds can only be spent by their rightful owners.
A few concepts related to ECDSA:
private key: A secret number, known only to the person that generated it.
Public key: A number that corresponds to a private key, but does not need to
be kept secret.
Signature: A number that proves that a signing operation took place. A signature is
mathematically generated from a hash of something to be signed, plus a private
key.
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14. Bitcoin client software called a bitcoin wallet allows a user to transact bitcoins. A wallet
program generates and stores private keys, and communicates with peers on the
bitcoin network.
The first wallet program called Bitcoin-Qt was released in 2009 by Satoshi Nakamoto as
open source code.
Bitcoin-Qt, also called Satoshi client, is sometimes referred to as the reference client
because it serves to define the bitcoin protocol and acts as a standard for other
implementations.
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15. Bitcoin transactions are permanently recorded in a public distributed ledger called the block
chain.
Approximately six times per hour, a group of accepted transactions, a block, is added to the
block chain, which is quickly published to all network nodes.
This allows bitcoin software to determine when a particular bitcoin amount has been spent, a
novel solution for preventing double-spends in a peer-to-peer environment with no central
authority.
Whereas a conventional ledger records the transfers of actual bills or promissory notes that
exist apart from it
the block chain is the only place that bitcoins can be said to exist. To independently verify the
chain-of-ownership of any and every bitcoin amount, full-featured bitcoin software stores its
own copy of the block chain.
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22. A paper wallet is a mechanism for storing bitcoins offline as a physical
document that can be secured like cash or anything else of real-world value.
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23. Mining is the process of adding transaction records to Bitcoin's public ledger of past
transactions.
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24.  Mining Using Computer
Electrum , Blockchain and Bitcoin Wallet
 Currency converter (Mt. Gox)
 Buy shares in companies specializing in mining
EX:GENESIS-MINING
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25.  Purchase of specialized equipment in mining
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26.  Get rid of the burden and delay financial service
 Confidentiality
 Protected from inflation
 World
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27. Bitcoin is a digital currency
Because it is digital, you can literally backup your money, so, when properly cared
for, it can’t be:
Lost
Stolen
Frozen or seized
Allows a direct and immediate transfer of value between two people anywhere in
the world.
No banks, governments, or organizations control or influence it.
Cannot be counterfeited, inflated, printed, or devalued over time.
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28. A peer-to-peer network functions as a distributed authority to record transactions.
Bitcoin operates on free, open-source software on any computer or smart phone.
There are no start-up, transaction, or usage fees.
Purchases can be completely anonymous.
Transactions cannot be reversed.
Privacy is enhanced with Bitcoin and it reduces identity theft.
Bitcoins can be exchanged in open markets for any other currency
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