Bitcoin was developed in 2009 as a peer-to-peer electronic cash system without a central bank. It can be obtained through mining or in exchange for other currencies and products. Approximately 11 million bitcoins have been mined out of a total of 21 million that will eventually be created. While it offers advantages like independence from governments and anonymity, it also poses risks like lack of regulation, price volatility, and use for illegal activities. China recently banned bitcoin trading at major exchanges in the country.

1. FAHAD.P
12351046

2. About bitcoin?
 The Bitcoin was developed by Satoshi
Nakamoto in 2009.
 Used in peer-to-peer transactions in which
participating parties recognize its value.
 No central bank or clearing house, no
financial regulator, not tied to any currency
• Bitcoin are stored and sent through e-wallets

3.  Bitcoins can be obtained by mining or in
exchange for products, services, or
other currencies.
 Traded/exchanged through online virtual currency
exchanges (Mt. Gox,TradeHill).
 Approximately 11 million Bitcoin have been
mined, 21 million Bitcoin in total.
 Bitcoin is stored in such a way that the new owner
is the only person allowed to spend it.
 Bitcoin’s value cannot be debased by any
government.
 Bitcoin ATM counters.

4. Growth of bitcoin..

5. legal status by country’s :
YES RESTRICTED NO

6. How do bitcoins look like?
16UwLL9Risc3QfPqBUvKofHmBQ7wMtjvM
Public key: 32 characters starting with 1 or 3
Private key: 51 characters starting with 5
 As on 2-4-2014 :
1 BTC = 468.2 USD
1 BTC = 27900 INR

7. Advantages
 Avoid the taxation of the savings
 Independent from Government.
 Anonymity
 It cannot be used twice
 Simple, cheap and fast.
 Transactions at any time.
 No neeed of physical presence of traders.

9. Bitcoin trading accounts
banned in China: report
 The People's Bank of China, the nation's central
bank, has ordered banks and third-party
payment companies to close all bitcoin trading
accounts at more than 15 exchanges across the
country, the Shanghai-based China Business
News reports.
 The bank had recently issued a notice prohibiting
domestic banks and third-party payment
institutions from allowing bitcoin transactions, a
source told the newspaper.(29-3-2014)
 )

10. Reasons for ban or
Disadvantages
 Anonymity
 Transactions are uncontrollable.
 Not safe for the average computer user.
 Competing digital currency
 Cannot buy stuff.
 Unstable or Limited confidence in Bitcoin

11. Conclusion
As long as people give
you beer for it, it's real
money.
Thank you..