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Bitcoin powerpoint


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Bitcoin powerpoint

  1. 1. Bitcoin By JP Carey, Devon Carroll, Gustavo Rios, Nate Gorman
  2. 2. What is Bitcoin? -Bitcoin is a technology that allows people to transfer funds between each other separate from a central authority or bank. -Open to the public: anyone can join and take part in this unique money-transfer technology -Connects people worldwide creating an international network of “buyers”, “sellers”, and “miners” -The first decentralized digital currency -A “Krypto-currency” -Not run by one single person, it is run by everyone
  3. 3. Bitcoin Video •
  4. 4. How are Bitcoins Created? -They are created through transactions made between buyers and sellers world wide. -Each transaction has to get approved by a “miner” who is separate from the buyer and seller. -Once the miner approves the transaction he connects it with other transactions that he has also approved until he has enough to add it to his “blockchain” - The miner is rewarded a bitcoin when he adds a block to the “blockchain”
  5. 5. Security Concerns • Mt. Gox Disaster • 460 Million Disappeared • Not Insured • Caused Bitcoin Prices to Drop 50%
  6. 6. Volatility • Fluctuation • Limited amount of Bitcoins in circulation • Transactions • Future Possibilities
  7. 7. Is Bitcoin a currency, commodity, both or neither?
  8. 8. What are the risks of using Bitcoin and investing further in this new technology?
  9. 9. Does Bitcoin have the potential to replace the US dollar as the international benchmark for foreign transactions?

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