What is Bitcoin and Why is it Important?

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In this presentation Marshall Hayner of QuickCoin discusses what Bitcoin is, it's implications and potential for the future.

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What is Bitcoin and Why is it Important?

  1. 1. BITCOIN What is it? Why Does it Matter? How Will it Change our Future? Presented by: http://quickcoin.co/ https://twitter.com/thequickcoin https://facebook.com/qcoin
  2. 2. What is Bitcoin? Bitcoin is a decentralized currency that exists through a cloud-network known as the blockchain. The blockchain is a transparent ledger of all the transactions that ever occur on the bitcoin network. Bitcoin is open-source, meaning anyone can view the source code. There is a set amount of Bitcoin that will ever be in circulation: 21 million coins.
  3. 3. What is Bitcoin? Bitcoins are created through a process known as mining, essentially trading computing power for currency value. Bitcoin is secured through public key cryptography, using Elliptic Curve Digital Signature Algorithm (ECDSA) Current block reward is 25 coins per 10 minutes, it will half approximately every four years. We will reach 21 million coins by approximately 2140. Bitcoin is increasingly divisible in measurement.
  4. 4. Bitcoin Features ● Bitcoin transfers value globally instantaneously. ● Confirmations begin to appear in 15 minutes. ● Counterfeit is eliminated ● Creates a standard for global currency ● Improves and encourages global commerce. ● Payments can be transmitted through any digital medium (visual, audio, social media, etc)
  5. 5. Bitcoin Implications ● Allows the underbanked to become banked instantly. ● Changes money remittance system, making it much easier and almost free. ● Money has become global on the internet and can no longer be contained by physical borders...
  6. 6. Bitcoin Implications ● Allows the underbanked to become banked instantly. ● Changes money remittance system, making it much easier and almost free. ● Money has become global on the internet and can no longer be contained by physical borders...
  7. 7. The Future of Bitcoin ● Integration into social media ● Micropayments ● Decentralized contracts ● Digital Autonomous Corporations (DAC) ● Decentralized Banks and Exchanges ● Decentralized Applications (Ethereum) ● Devices that run themselves, self-driving taxi, software writing machine, 3d-printing devices, etc...
  8. 8. The Future of Bitcoin Paper cash will most likely become a rarity as fast, efficient, decentralized electronic-cash payments will become the popular standard, eliminating a clunky and outdated method of transferring value (physical cash). Wire transfers, checks, ACH/Debit transfers will also be eliminated in this same fashion. With it's self-regulating algorithm, it sets a clear international standard of value. This value will become stable overtime as the quality of services increase and Bitcoin scarcity increases. This alone is the main reason why Bitcoin and the methods for digital currency will become a staple in the near future and inevitably change the face of business as we know it.
  9. 9. If You Enjoyed This... Please follow me on twitter @MarshallHayner Feel free to send me email: marshall@quickcoin.co Marshall Hayner is the Co-Founder of QuickCoin and The Bitcoin Fair. An avid cryptocurrency enthusiast and believer in decentralized networks, Marshall aims to bridge digital currency into mainstream society.

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