3. There is only one currency to choose from
as Consumers, Business Owners &
Payment Facilitators.
4. Everyday we use alternative currencies
without even thinking about it.
5. There were over 8,000 private institutions
issuing currency in the US in 1860
6.
7. • Created by the mysterious Satoshi
Nakamoto
• Cryptocurrency which stores value on your
computer or server
• Quick & Worldwide P2P Transactions
• Zero or Low Processing Fees
• No central authority or banks managing
transations.
8. • Issuance of Bitcoins is carried out by the
network
• Finite Set of Bitcoins
Around Year 2140 all bitcoins will be issued
for a total of 21 Million Bitcoins in circulation
• Not one individual, company or government
controls Bitcoin & everyone can take part
• Bought via Money Exchanges
• 100,000 Wallets in Jan 2013
500,000 Wallets in Nov 2013
1,000,000 Wallets in Jan 2014
• 12,338,775 BTC = 8,227,248,394 USD
10. • Bars & Restaurants
EVR
Old Man Hustle
O’Crepes
• Medical
Dr. Steven Schram
Chiropractor
• Computer Repair
XCubicle
• Real Estate Brokerage
BOND New York
13. • Limited Privacy - 56% of Americans
according to the PEW research center are
more concerned with Privacy than Terrorism,
70% believe government is using the data it
collects for “Reasons other than Terrorism”
(July 2013)
• Inflation Concerns & Store of Value – In the
last 20 years the Government & the Federal
Reserve have not been doing their jobs well.
For Example: $1.00 in 1993 has the same
buying power of $1.62 today
14. Since the Federal Reserve started
operations in 1918, $1.00 in 1914 has the
same buying power of $22.96 today
15. Milton Friedman, Economist
that won the Nobel Peace
Prize argued that,
“No reason currently to
prohibit banks or other
groups from issuing hand-to-
hand currency”
16. • Bitpay.com has 15,500 approved
merchants in 200 countries
• Bitcoin ATM’s by Lamassu Bitcoin
Ventures,Genesis Coin/Genesis1 and the
RoboCoin
• Bitcoin Fund is the first Bitcoin hedge fund
launched by Exante in Malta
• Winklevoss Brothers investing heavily into
Bitcoins and Bitcoin Companies
17.
18. In an interview at the January
2014 World Economic Forum in
Davros, Switerzerland,
US Treasure Secretary Jack Lew
called bitcoin a “Phenomenon” and
said
“From the governments
perspective, we have to make sure
[Bitcoin] does not become avenue
to funding illegal activities or to
funding activities that have malign
purposes like terrorist activities”
19. In a letter Ben Bernanke
wrote to congress, while he
was Chairman, regarding
Bitcoin,
“[Bitcoin] may hold long-term
promise, particularly if the
innovations promote a faster,
more secure and more
efficient payment system.”
20. • Mar. 18 2013; FinCEN (Financial Crimes Enforcement
Network) issued guidance that applied the Bank Secrecy Act
(BSA) to Bitcoin Administrators and Exchangers.
- Resulted in the closure of at least 3 exchanges in the US. (2)
- Also states a user of virtual currency is not subject to
registration, reporting and recordkeeping regulations (3)
• Aug. 17, 2013; US Department of Homeland Security seized
2.9 million from Mt.Gox’s Dwolla and 2.1 million from their
Wells Fargo account for failing to register as a money
transmitting company (4)
• Aug. 19 2013; Germany recognizes Bitcoin as “Private
Money” (5)
• 3rd & 4th 2013 Quarter; The Senate held hearings on Bitcoin
• Jan. 28th & 29th 2014; New York State held hearings on how to
structure a possible “Bit License”
• Jan. 28th 2014; The CEO of BitInstant, a Bitcoin exchange,
was arrested and charged with laundering money.
