The document discusses Bitcoin, a digital currency created by the anonymous entity Satoshi Nakamoto. Bitcoin uses blockchain technology to operate as a decentralized peer-to-peer system without a central authority. Users can acquire and transfer bitcoins through exchanges and digital wallets. While Bitcoin offers anonymity and low transaction fees, it also enables criminal activity and tax evasion due to its untraceable nature. Overall, the document provides an introduction to Bitcoin and its underlying technology.

1. RAJA BALWANT SINGH
ENGINEERING TECHNICAL CAMPUS
PRESENTED BY:
MANSI SHARMA
1400410019
SEMINAR PRESENTATION
ON
BITCOIN

2. CONTENTS:
• INTRODUCTION
• WHAT IS CRYPTO CURRENCY?
• WHAT IS BITCOIN?
• WHO CREATED BITCOIN?
• TECHNOLOGY BEHIND BITCOIN
• WHO CONTROLS THE BITCOIN NETWORK?
• HOW IT WORKS?
• POSITIVE IMPLICATIONS
• NEGATIVE IMPLICATIONS
• ACQUIRING, TRANSFERRING AND OWNING BITCOIN
• CONCLUSION
• REFERENCES

3. INTRODUCTION
Bitcoin is an innovative payment network and a
new kind of money.
Bitcoin offers the promise of lower transaction
fees than traditional online payment mechanisms
and is operated by a decentralized authority,
unlike government issued currencies.
Bitcoin is open-source, its design is public, no one
can owns it but everyone can be a part of it.
There are no physical Bitcoins, only balances
associated with public and private keys.

4. WHAT IS CRYPTO CURRENCY?
 Crypto currency is nothing but a digital currency in
which encryption techniques are used to regulate
the generation of units of currency and verify the
transfer of funds.
 Bitcoin is one such example of crypto currency.

5. WHAT IS BITCOIN?
Bitcoin is a peer-to-peer electronic cash
system.
In simple words, Bitcoin is an encrypted file
that can be stored and transferred easily.
Bitcoin only used for
one time.

6. WHO CREATED BITCOIN?
 Bitcoin was invented by an unknown person or group
of people under the name Santoshi Nakamoto and
released an open source software in 2009.

7. TECHNOLOGY BEHIND BITCOIN
• Bitcoin requires Blockchain technology.
• It can never be manipulated and hacked
because of the structure of a Blockchain.
• It is decentralized that no person owns the
blockchain network.

8. WHO CONTROLS THE BITCOIN
NETWORK?
• Nobody owns the Bitcoin network like no one
owns the technology behind the emails or the
internet.
• Bitcoin transactions are verified by Bitcoin
miners which has an entire industry and
Bitcoin cloud mining option.

9. HOW IT WORKS?
• From the user perspective, Bitcoin is nothing more
than a mobile app or computer program that
provides a personal Bitcoin wallet and enables a user
to send and receive Bitcoins.
• Bitcoins stores details of every single transaction that
ever happened in the network in a huge version of
general ledger, called the blockchain.
• This ledger contain every transaction ever processed
which enables a user’s computer to verify the validity
of each transaction.

10. Continued…
You need two things: a bitcoin address and a private key.
• A bitcoin address is generated randomly, and is simply
a 32 character sequence of letters and numbers.
1BWEgGNEj2ED9SyyvXqH3wWiphFMczM1Uy
• The private key is another sequence of letters and
numbers, but unlike your bitcoin address, this is kept
secret.

11. POSITIVE IMPLICATIONS
• Government across the world have already
stepped in, to regulate trading in bitcoin.
• Bitcoin market cap is very small, even if it
crashed, it would not have a significant impact
on the broader financial markets.

12. NEGATIVE IMPLICATIONS
• Since bitcoin transfers cannot be traced,
bitcoin is often used to purchase drugs or
stolen goods or finance other types of criminal
activity.
• Bitcoin offers both anonymity and the security
of an electronic transaction. Hence, bitcoin
can become a sub-economy where people
could hide their income and evade
government taxes.

13. ACQUIRING, TRANSFERING AND
OWNING BITCOIN
• ACQUIRING BITCOINS
Buy on an exchange
Marketplaces called
“bitcoin exchanges”
allow people to buy or
sell bitcoins using
different currencies.

14. CONT…
• TRANSFERING BITCOINS
People can send
bitcoins to each
other using mobile
apps or their computers.
It’s similar to sending
cash digitally.

15. CONT…
• OWNING BITCOINS
Bitcoins are stored in a
“digital wallet,” which exists
either in the cloud or on a
user’s computer. The wallet is
a kind of virtual bank account
that allows users to send or
receive bitcoins, pay for goods
or save their money.

16. CONCLUSION
• And now the current value of Bitcoin is
1 BTC = 3976.04 US Dollar OR 545366.25
Indian rupee.
• So concluding, Bitcoin future is bright as star
and people can invest at almost no risk.
• “Digital currency is the future, You can’t get
left behind”

17. REFERENCES
• http://en.wikipedia.org/wiki/Bitcoin
• https://bitcoin.org/en
• https://bitcoin.org/en/how-it-works
• http://bitcoinreport.com
• http://slideshare.com
• http://www.theguardian.com/technology/bitcoin
• W. Dai, "b-money," http://www.weidai.com/bmoney.txt, 1998.
• H. Massias, X.S. Avila, and J.-J. Quisquater, "Design of a secure time
stamping service with minimal trust requirements," In 20th
Symposium on Information Theory in the Benelux, May 1999.
• S. Haber, W.S. Stornetta, "How to time-stamp a digital document,"
In Journal of Cryptology.