SlideShare a Scribd company logo
BITCOIN: What it is, Why
it’s important and How it
won’t save us
Frank Flores
Rio Grande Valley Zeitgeist Movement
Z-Day 2014
BITCOIN: What it is
Decentralized
No single point of failure or control
Digital
Not a physical object - ephemeral
Peer to Peer
All nodes are equal, anti-fragile
Cryptocurrency
Security and integrity rely on mathematics
Open source software
BITCOIN: How it works
Gossip
Everyone shares their signed messages
ECDSA 256 / SHA-256 / RIPEMD-160
Verification
Do the messages make sense?
Merkle Tree / Algorithmic Control
Securing and Issuance
Add messages to ledger and reward miners
SHA-256 Hashing / Defined and Limited
Growth Rate of Bitcoin Network Hashing Power
2009-Present
BITCOIN: Why it’s important
Obviates Governmental Authority
No one person or entity regulates currency
Not subject to searches, seizures, freezing
More Efficient, Cheaper Than Banks / CC’s
A virtuous circle that rewards contributors
Volunteers operate the infrastructure, vote
The Ephemeralization of Money/Finance
Economic opportunity for under/unbanked
Basis for new technologies/paradigms
BITCOIN: How it won’t save us...
Continues to Promote Money System of Value
Does not promote sustainability
Thrives on market inefficiencies
Maintains and Increases Inequality
Must have access to significant technology
Must invest more wealth to earn more wealth
Cartel and Monopoly/Oligarchy or Factions
Market pressures still exist
Bitcoin network can become fractured
...but here’s why it helps us!
Encourages An Honest Discussion About
Money
Many news outlets asking “What is money?”
Much more discussion of fiat, Fed polices
Proves a useful technology and paradigm
Given agreeable software, we’ll contribute!
No one in charge, everyone votes!
Alternative currencies enable significant
change!
SolarCoin, PrimeCoin, NameCoin
Change encourages more change!
QUESTIONS
AND
ANSWERS

More Related Content

What's hot

What's hot (17)

The Blockchain Report 2020
The Blockchain Report 2020The Blockchain Report 2020
The Blockchain Report 2020
 
BizDay: Digital Micro-Lending and Debt Crowd Funding Platform, JVentures
BizDay: Digital Micro-Lending and Debt Crowd Funding Platform, JVenturesBizDay: Digital Micro-Lending and Debt Crowd Funding Platform, JVentures
BizDay: Digital Micro-Lending and Debt Crowd Funding Platform, JVentures
 
BizDay: A View From Behind the Curtain, SIX Exchange
BizDay: A View From Behind the Curtain, SIX ExchangeBizDay: A View From Behind the Curtain, SIX Exchange
BizDay: A View From Behind the Curtain, SIX Exchange
 
Building Financial Networks on Corda
Building Financial Networks on CordaBuilding Financial Networks on Corda
Building Financial Networks on Corda
 
Two Regulatory Battles Fintechs Should Watch
Two Regulatory Battles Fintechs Should WatchTwo Regulatory Battles Fintechs Should Watch
Two Regulatory Battles Fintechs Should Watch
 
BizDay: David E. Rutter Welcome Address
BizDay: David E. Rutter Welcome AddressBizDay: David E. Rutter Welcome Address
BizDay: David E. Rutter Welcome Address
 
Martín Hagelstrom, Blockchain Leader Latin America IBM en Simposio Tendencias...
Martín Hagelstrom, Blockchain Leader Latin America IBM en Simposio Tendencias...Martín Hagelstrom, Blockchain Leader Latin America IBM en Simposio Tendencias...
Martín Hagelstrom, Blockchain Leader Latin America IBM en Simposio Tendencias...
 
Trend Talk London: Darryll Colthrust, Palmer Capital
Trend Talk London: Darryll Colthrust, Palmer CapitalTrend Talk London: Darryll Colthrust, Palmer Capital
Trend Talk London: Darryll Colthrust, Palmer Capital
 
BizDay: Finteum Presentation
BizDay: Finteum PresentationBizDay: Finteum Presentation
BizDay: Finteum Presentation
 
BTCS, Inc. Investor Presentation
BTCS, Inc. Investor PresentationBTCS, Inc. Investor Presentation
BTCS, Inc. Investor Presentation
 
Btcs 201507
Btcs 201507Btcs 201507
Btcs 201507
 
Tokenomics: What Tokens, ICOs, Cryptography, and the Blockchain Mean for the ...
Tokenomics: What Tokens, ICOs, Cryptography, and the Blockchain Mean for the ...Tokenomics: What Tokens, ICOs, Cryptography, and the Blockchain Mean for the ...
Tokenomics: What Tokens, ICOs, Cryptography, and the Blockchain Mean for the ...
 
Capco Blockchain, Distributed Ledger and Cryptocurrencies keynote to IIROC co...
Capco Blockchain, Distributed Ledger and Cryptocurrencies keynote to IIROC co...Capco Blockchain, Distributed Ledger and Cryptocurrencies keynote to IIROC co...
Capco Blockchain, Distributed Ledger and Cryptocurrencies keynote to IIROC co...
 
MasterSnacks Cryptocurrency: Operational and Internal Considerations for Comp...
MasterSnacks Cryptocurrency: Operational and Internal Considerations for Comp...MasterSnacks Cryptocurrency: Operational and Internal Considerations for Comp...
MasterSnacks Cryptocurrency: Operational and Internal Considerations for Comp...
 
Btl; Imagine a World
Btl; Imagine a WorldBtl; Imagine a World
Btl; Imagine a World
 
Non-Financial Applications of the Blockchain - Dan Rubins, Legal RoBot
Non-Financial Applications of the Blockchain - Dan Rubins, Legal RoBotNon-Financial Applications of the Blockchain - Dan Rubins, Legal RoBot
Non-Financial Applications of the Blockchain - Dan Rubins, Legal RoBot
 
Obtanix Opportunity presentation-version-1.1
Obtanix Opportunity presentation-version-1.1Obtanix Opportunity presentation-version-1.1
Obtanix Opportunity presentation-version-1.1
 

Viewers also liked (9)

บุญบั้งไฟ
บุญบั้งไฟบุญบั้งไฟ
บุญบั้งไฟ
 
Stiforp Profit Complete Guide
Stiforp Profit Complete GuideStiforp Profit Complete Guide
Stiforp Profit Complete Guide
 
Rio Grande Valley Zeitgeist Movement ZDay 2014: Veganism
Rio Grande Valley Zeitgeist Movement ZDay 2014: VeganismRio Grande Valley Zeitgeist Movement ZDay 2014: Veganism
Rio Grande Valley Zeitgeist Movement ZDay 2014: Veganism
 
Langkah penting setelah upgrade Stiforp Profits
Langkah penting setelah upgrade Stiforp ProfitsLangkah penting setelah upgrade Stiforp Profits
Langkah penting setelah upgrade Stiforp Profits
 
Sports
SportsSports
Sports
 
Attention
AttentionAttention
Attention
 
Cara order debitcard-payoneer
Cara order debitcard-payoneerCara order debitcard-payoneer
Cara order debitcard-payoneer
 
Sports
SportsSports
Sports
 
Attention
AttentionAttention
Attention
 

Similar to Rio Grande Valley Zeitgeist Movement ZDay 2014: Bitcoin

Bit coin fiat_barcampbangalore BCB11 Feb 2011
Bit coin fiat_barcampbangalore  BCB11 Feb 2011Bit coin fiat_barcampbangalore  BCB11 Feb 2011
Bit coin fiat_barcampbangalore BCB11 Feb 2011
Akhil Kodali
 

Similar to Rio Grande Valley Zeitgeist Movement ZDay 2014: Bitcoin (20)

37coins: Hubba Bitcoin Intro, Jonathan Zobro
37coins: Hubba Bitcoin Intro, Jonathan Zobro37coins: Hubba Bitcoin Intro, Jonathan Zobro
37coins: Hubba Bitcoin Intro, Jonathan Zobro
 
Bitcoin, Blockchain, and Distributed Ledger Technology: Hype or Reality
Bitcoin, Blockchain, and Distributed Ledger Technology: Hype or RealityBitcoin, Blockchain, and Distributed Ledger Technology: Hype or Reality
Bitcoin, Blockchain, and Distributed Ledger Technology: Hype or Reality
 
Bitcoin: A SWOT Analysis
Bitcoin: A SWOT AnalysisBitcoin: A SWOT Analysis
Bitcoin: A SWOT Analysis
 
Talal Tabbaa - Smart Regulations and Crypto-systemic risk
Talal Tabbaa - Smart Regulations and Crypto-systemic riskTalal Tabbaa - Smart Regulations and Crypto-systemic risk
Talal Tabbaa - Smart Regulations and Crypto-systemic risk
 
Business Analysis.pptx
Business Analysis.pptxBusiness Analysis.pptx
Business Analysis.pptx
 
FINTECHS & CORONA; WHICH FINTECH WILL GROW IN POST CORONA ERA by GÖRKEM ÇOKÇETİN
FINTECHS & CORONA; WHICH FINTECH WILL GROW IN POST CORONA ERA by GÖRKEM ÇOKÇETİNFINTECHS & CORONA; WHICH FINTECH WILL GROW IN POST CORONA ERA by GÖRKEM ÇOKÇETİN
FINTECHS & CORONA; WHICH FINTECH WILL GROW IN POST CORONA ERA by GÖRKEM ÇOKÇETİN
 
Truth or Dare - Cryptocurrenceis, Realities of ICOs, Risk and Opportunities
Truth or Dare - Cryptocurrenceis, Realities of ICOs, Risk and OpportunitiesTruth or Dare - Cryptocurrenceis, Realities of ICOs, Risk and Opportunities
Truth or Dare - Cryptocurrenceis, Realities of ICOs, Risk and Opportunities
 
Demystifying FinTech - Webinar in cooperation with Emeritus
Demystifying FinTech - Webinar in cooperation with EmeritusDemystifying FinTech - Webinar in cooperation with Emeritus
Demystifying FinTech - Webinar in cooperation with Emeritus
 
OSAMA LIAQAT-1.pptx
OSAMA LIAQAT-1.pptxOSAMA LIAQAT-1.pptx
OSAMA LIAQAT-1.pptx
 
2.The Rise of Bitcoin_ Disrupting the Traditional Financial System.pdf
2.The Rise of Bitcoin_ Disrupting the Traditional Financial System.pdf2.The Rise of Bitcoin_ Disrupting the Traditional Financial System.pdf
2.The Rise of Bitcoin_ Disrupting the Traditional Financial System.pdf
 
Blockchain bright opportunities_16-nov-2020_v2
Blockchain bright opportunities_16-nov-2020_v2Blockchain bright opportunities_16-nov-2020_v2
Blockchain bright opportunities_16-nov-2020_v2
 
Blockchain and Applications Class - 2022.pdf
Blockchain and Applications Class - 2022.pdfBlockchain and Applications Class - 2022.pdf
Blockchain and Applications Class - 2022.pdf
 
Bitcoin and Banking
Bitcoin and BankingBitcoin and Banking
Bitcoin and Banking
 
BitCoin presentation for UTFCU Board of Directors
BitCoin presentation for UTFCU Board of DirectorsBitCoin presentation for UTFCU Board of Directors
BitCoin presentation for UTFCU Board of Directors
 
The Three Waves of Financial Disruption in Fintech
The Three Waves of Financial Disruption in FintechThe Three Waves of Financial Disruption in Fintech
The Three Waves of Financial Disruption in Fintech
 
Bloccelerate VC Webinar: Blockchain Winter 2019
Bloccelerate VC Webinar: Blockchain Winter 2019Bloccelerate VC Webinar: Blockchain Winter 2019
Bloccelerate VC Webinar: Blockchain Winter 2019
 
Bitcoin 101
Bitcoin 101Bitcoin 101
Bitcoin 101
 
Blockchain the inception of a new database of everything by dinis guarda bloc...
Blockchain the inception of a new database of everything by dinis guarda bloc...Blockchain the inception of a new database of everything by dinis guarda bloc...
Blockchain the inception of a new database of everything by dinis guarda bloc...
 
DCG Digital Currency Infrastructure Workshop Oct 2017
DCG Digital Currency Infrastructure Workshop Oct 2017DCG Digital Currency Infrastructure Workshop Oct 2017
DCG Digital Currency Infrastructure Workshop Oct 2017
 
Bit coin fiat_barcampbangalore BCB11 Feb 2011
Bit coin fiat_barcampbangalore  BCB11 Feb 2011Bit coin fiat_barcampbangalore  BCB11 Feb 2011
Bit coin fiat_barcampbangalore BCB11 Feb 2011
 

Recently uploaded

Recently uploaded (20)

Optimizing NoSQL Performance Through Observability
Optimizing NoSQL Performance Through ObservabilityOptimizing NoSQL Performance Through Observability
Optimizing NoSQL Performance Through Observability
 
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024
 
Measures in SQL (a talk at SF Distributed Systems meetup, 2024-05-22)
Measures in SQL (a talk at SF Distributed Systems meetup, 2024-05-22)Measures in SQL (a talk at SF Distributed Systems meetup, 2024-05-22)
Measures in SQL (a talk at SF Distributed Systems meetup, 2024-05-22)
 
Exploring UiPath Orchestrator API: updates and limits in 2024 🚀
Exploring UiPath Orchestrator API: updates and limits in 2024 🚀Exploring UiPath Orchestrator API: updates and limits in 2024 🚀
Exploring UiPath Orchestrator API: updates and limits in 2024 🚀
 
UiPath Test Automation using UiPath Test Suite series, part 1
UiPath Test Automation using UiPath Test Suite series, part 1UiPath Test Automation using UiPath Test Suite series, part 1
UiPath Test Automation using UiPath Test Suite series, part 1
 
JMeter webinar - integration with InfluxDB and Grafana
JMeter webinar - integration with InfluxDB and GrafanaJMeter webinar - integration with InfluxDB and Grafana
JMeter webinar - integration with InfluxDB and Grafana
 
Free and Effective: Making Flows Publicly Accessible, Yumi Ibrahimzade
Free and Effective: Making Flows Publicly Accessible, Yumi IbrahimzadeFree and Effective: Making Flows Publicly Accessible, Yumi Ibrahimzade
Free and Effective: Making Flows Publicly Accessible, Yumi Ibrahimzade
 
Intelligent Gimbal FINAL PAPER Engineering.pdf
Intelligent Gimbal FINAL PAPER Engineering.pdfIntelligent Gimbal FINAL PAPER Engineering.pdf
Intelligent Gimbal FINAL PAPER Engineering.pdf
 
"Impact of front-end architecture on development cost", Viktor Turskyi
"Impact of front-end architecture on development cost", Viktor Turskyi"Impact of front-end architecture on development cost", Viktor Turskyi
"Impact of front-end architecture on development cost", Viktor Turskyi
 
Integrating Telephony Systems with Salesforce: Insights and Considerations, B...
Integrating Telephony Systems with Salesforce: Insights and Considerations, B...Integrating Telephony Systems with Salesforce: Insights and Considerations, B...
Integrating Telephony Systems with Salesforce: Insights and Considerations, B...
 
ODC, Data Fabric and Architecture User Group
ODC, Data Fabric and Architecture User GroupODC, Data Fabric and Architecture User Group
ODC, Data Fabric and Architecture User Group
 
WSO2CONMay2024OpenSourceConferenceDebrief.pptx
WSO2CONMay2024OpenSourceConferenceDebrief.pptxWSO2CONMay2024OpenSourceConferenceDebrief.pptx
WSO2CONMay2024OpenSourceConferenceDebrief.pptx
 
Knowledge engineering: from people to machines and back
Knowledge engineering: from people to machines and backKnowledge engineering: from people to machines and back
Knowledge engineering: from people to machines and back
 
Connector Corner: Automate dynamic content and events by pushing a button
Connector Corner: Automate dynamic content and events by pushing a buttonConnector Corner: Automate dynamic content and events by pushing a button
Connector Corner: Automate dynamic content and events by pushing a button
 
Introduction to Open Source RAG and RAG Evaluation
Introduction to Open Source RAG and RAG EvaluationIntroduction to Open Source RAG and RAG Evaluation
Introduction to Open Source RAG and RAG Evaluation
 
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered Quality
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered QualitySoftware Delivery At the Speed of AI: Inflectra Invests In AI-Powered Quality
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered Quality
 
PLAI - Acceleration Program for Generative A.I. Startups
PLAI - Acceleration Program for Generative A.I. StartupsPLAI - Acceleration Program for Generative A.I. Startups
PLAI - Acceleration Program for Generative A.I. Startups
 
Intro in Product Management - Коротко про професію продакт менеджера
Intro in Product Management - Коротко про професію продакт менеджераIntro in Product Management - Коротко про професію продакт менеджера
Intro in Product Management - Коротко про професію продакт менеджера
 
Custom Approval Process: A New Perspective, Pavel Hrbacek & Anindya Halder
Custom Approval Process: A New Perspective, Pavel Hrbacek & Anindya HalderCustom Approval Process: A New Perspective, Pavel Hrbacek & Anindya Halder
Custom Approval Process: A New Perspective, Pavel Hrbacek & Anindya Halder
 
Behind the Scenes From the Manager's Chair: Decoding the Secrets of Successfu...
Behind the Scenes From the Manager's Chair: Decoding the Secrets of Successfu...Behind the Scenes From the Manager's Chair: Decoding the Secrets of Successfu...
Behind the Scenes From the Manager's Chair: Decoding the Secrets of Successfu...
 

Rio Grande Valley Zeitgeist Movement ZDay 2014: Bitcoin

  • 1. BITCOIN: What it is, Why it’s important and How it won’t save us Frank Flores Rio Grande Valley Zeitgeist Movement Z-Day 2014
  • 2. BITCOIN: What it is Decentralized No single point of failure or control Digital Not a physical object - ephemeral Peer to Peer All nodes are equal, anti-fragile Cryptocurrency Security and integrity rely on mathematics Open source software
  • 3. BITCOIN: How it works Gossip Everyone shares their signed messages ECDSA 256 / SHA-256 / RIPEMD-160 Verification Do the messages make sense? Merkle Tree / Algorithmic Control Securing and Issuance Add messages to ledger and reward miners SHA-256 Hashing / Defined and Limited
  • 4. Growth Rate of Bitcoin Network Hashing Power 2009-Present
  • 5. BITCOIN: Why it’s important Obviates Governmental Authority No one person or entity regulates currency Not subject to searches, seizures, freezing More Efficient, Cheaper Than Banks / CC’s A virtuous circle that rewards contributors Volunteers operate the infrastructure, vote The Ephemeralization of Money/Finance Economic opportunity for under/unbanked Basis for new technologies/paradigms
  • 6. BITCOIN: How it won’t save us... Continues to Promote Money System of Value Does not promote sustainability Thrives on market inefficiencies Maintains and Increases Inequality Must have access to significant technology Must invest more wealth to earn more wealth Cartel and Monopoly/Oligarchy or Factions Market pressures still exist Bitcoin network can become fractured
  • 7. ...but here’s why it helps us! Encourages An Honest Discussion About Money Many news outlets asking “What is money?” Much more discussion of fiat, Fed polices Proves a useful technology and paradigm Given agreeable software, we’ll contribute! No one in charge, everyone votes! Alternative currencies enable significant change! SolarCoin, PrimeCoin, NameCoin Change encourages more change!