Bitcoin Backgrounder

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Bitcoin Backgrounder. Overview of Bitcoin history.

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Bitcoin Backgrounder

  1. 1. & VIRTUAL CURRENCIES
  2. 2. • 100 Virtual Currencies with Total Market Cap of $9.4 Billion • 11 Virtual Currencies with value over $10 billion • 5 Virtual Currencies with Market Cap in excess of $50M. • 4 Virtual Currencies with volume over $1 million • 2 Virtual Currencies with Market Cap of $1B+ • 1 Amazon currency –
  3. 3. 2009  Bitcoin launched 2010-2011  First real Bitcoin transaction  10,000 BTC for pizza (today worth $8 million)  First Bitcoin currency exchange established  Time Magazine article sparks interest  WikiLeaks begins accepting donations in Bitcoins Silk Road begins accepting Bitcoin
  4. 4. 2012  Bitcoin Foundation founded  First Bitcoin bank opens 2013  BitPay, a startup that helps merchants accept Bitcoins becomes one of first Bitcoin startups to raise significant investment capital  Market cap reaches $1 Billion  Forbes columnist Kashmir Hill spends week living on Bitcoin  Silk Road Shut Down  California dealer sells Tesla for 91.4 Bitcoins  Canadian lists house on market for Bitcoins  First Bitcoin ATMs
  5. 5. MT GOX – Bitcoin Exchange  Launched 2010. By 2013 – handled 70% of all Bitcoin transactions  May 2013 – Department of Homeland Security seizes funds from Mt. Gox’s US account for operating as an unregistered money transmitter. Obtained license the following month.  Jan 2014 – Announced almost 750,000 of its customers' bitcoins, and around 100,000 of its own bitcoins, totaling around 7% of all bitcoins, and worth around $473 were missing.  March 2014 - Mt. Gox filed for bankruptcy
  6. 6. • a "turning point" for the virtual currency - Mt. Gox CEO Mark Karpeles • an "MF Global“ moment - Marc Andressen • the beginning of the end of Bitcoin
  7. 7. DOGECOIN SOARS FROM MT GOX FALLOUT AND PRESS FROM RAISING MONEY TO FUND JAMAICAN BOBSLED TEAM First 100 Days = Bitcoins First 1000 Days

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