4. $500 million invested in bitcoin start-ups
• Marc Andreessen, co-Founder of Netscape
• Barry Silbert, Founder and former CEO of
SecondMarket
• Reid Hoffman, co-Founder of LinkedIn; Facebook
investor
• Richard Branson, Founder of Virgin Atlantic airline
• Li Ka-Shing, “richest man in Asia” net worth of $32
billion
• Vikram Pandit, former CEO of Citigroup
• New York Stock Exchange (NYSE)
5. Myth #1: “Bitcoin is only used to buy drugs”
Rank Companies that accept bitcoin
Annual revenue
($billion)
1 Microsoft 86
2 Dell 56.9
3 Dish Network 13.9
4 Expedia 5.0
5 NewEgg 2.8
6 Overstock 1.3
7 TigerDirect 1.0
8 1-800 Flowers 0.8
6. Myth #2: “There is no advantage to bitcoin”
This parody advertisement highlights the benefits of bitcoin
7. Myth #3: “Bitcoin was hacked last year”
• Mt. Gox (a bitcoin exchange)
lost $450 million in bitcoin in
early 2014
• Mt. Gox is not bitcoin
• The bitcoin blockchain has not been “hacked”
since its early development in 2009
• Bitcoin’s network is 100x more powerful than
the world’s top 500 supercomputers combined
8. Myth #4: “There are hundreds of ‘altcoins’
that can replace bitcoin”
• Dogecoin, litecoin, darkcoin, peercoin, ripple…
• Bitcoin is the most secure
• First mover advantage
• Network effect of adoption
9. Myth #5: “Bitcoin sounds complicated”
• Buying bitcoin is as easy as online banking
Coinbase.com
San Francisco, CA
Circle.com
Boston, MA
10. • Target and JP Morgan hacked
– 100 million bank accounts compromised
• Sony hacked
• Centralized data storage is not secure
• Decentralized data storage: secure and cheaper
Other blockchain uses: Cloud storage
• Storjcoin—the future of
cloud storage?
– Early beta testing
– One Storjcoin (share) worth 2¢