My presentation at Bizcamp Ghent June 11th 2011 (http://bizcamp.be/).
I tried to explain bitcoin with the following metaphors:
- a cash register copied over the hard drives of all participants
- public/private keys as coloured pens: a transaction is only valid if it is written in the color of the pen that is writing the transaction in the register (unlimited number of colours, none is the same)
- bitcoin blocks as pages in the cash register
- the node that first solves a sudoku puzzle made up of all the transactions in the page (and with the puzzle on the previous page), gets 50 bitcoins as a prize (as a metaphor for mining, this one turned out the most difficult to grasp)
- the transaction history can't be falsified because that would require solving sudoku puzzles faster than the combined rest of the world
- economic value generated by mining is the stability of the system as a whole (transaction history not falsifiable)
Rest of the screenshots:
- how the client works
- discussion of (relative) "anonymity"
- driver behind current speculation: expectation that a sizeable amount of the underground economy will move into bitcoin
- mining hardware and business
- risks and challenges for bitcoin