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.

Bitcoins

679 views

Published on

Bitcoin is a consensus network that enables a new payment system and a completely digital money.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.
From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

Published in: Economy & Finance
  • Be the first to comment

Bitcoins

  1. 1. BITCOINS
  2. 2. WHAT IS BITCOINS ? Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.
  3. 3. BITCOIN HISTORY The first Bitcoin specification and proof of concept was published in 2009 by Satoshi Nakamoto. Bitcoin is the first implementation of a concept called "crypto-currency", which was first described in 1998 by Wei Dai
  4. 4. HOW BITCOIN WORKS ? As a new user , we have to install digital wallet in the mobile or computer. You can open three type of wallet : software wallet , mobile wallet or web wallet . Each address has its own Bit coins balance, so all you need to do is acquire a number of Bit coins that will be held at one of the addresses in your wallet. You can purchase bit coins in number of way : like buying from bitcoin currency exchange etc .
  5. 5. HOW BITCOINS WORK ? Then make sure you create a new address for each transaction as a means of ensuring privacy and enhancing security. Once you have created a Bitcoin address and have acquired Bitcoins, you can use them for an online transaction with a company that accepts Bitcoins as a payment mode.
  6. 6. ADVANTAGES OF BITCOINS Low Collapse Risk Low Inflation Risk Easy and Fast Payment Secure (Cryptography) Low or no Transaction fee Easy to Carry Untraceable
  7. 7. DISADVANTAGE OF BITCOINS Payment are Irreversible Not widely Accepted Untraceable Simple to use Experimental currency Cannot buy everything Volatile Losing your wallet
  8. 8. WHERE TO BUY BITCOINS ? BITCOIN currency Exchange (MT. Gox,Bitcon – 24 , Camp BX) BUY it from some at Localbitcoin.com or bitcointalk.org
  9. 9. BITCOINS RATES 1BTC = 1127 USD 1BTC = 821.9 EURO 1BTC = 1233 AUS DOLLAR 1BTC = 7322 SEK 1BTC = Rs 72297 (Note these rates keeps on fluctuating )
  10. 10. MY OBSERVATIONS As per my observation I don’t recommend people to put a huge amount of money in it but I will suggest them to just get familiar with this new system . The another thing concerns me is the santoshi anonymity .So I don’t completely trust the system as well . In bitcoins , you are of your own . So , I suggest people to do considerable amount of study and expect advice’s and then only invest any amount on it.

×