This infographic summarizes how bitcoin works as a digital currency and cryptocurrency. It outlines that bitcoins are designed to have a finite supply of 21 million that are "mined" by solving complex algorithms. Each transaction of bitcoins between accounts is recorded on a shared public ledger called the blockchain. While bitcoin promises benefits like low fees and security, it also carries risks of being deflationary, volatile in value, and limited in market acceptance currently.

1. THE DOWNSIDES OF BITCOIN:
The wild, wild world of
itcoin
www.4imprint.com
Infographic created by www.4imprint.com,
based on the Mining for Bitcoins Blue Paper®
.
Download Blue Paper at:
http://info.4imprint.com/blue-paper/mining-for-bitcoins/
Sources:
Burns, Megan, Harley Manning, and Jennifer Peterson. The State Of Customer Experience, 2011 Companies Have Lofty Goals But Aren't Doing What It Takes To Reach Them. Rep. Forrester Research,
Inc., 17 Feb. 2011. Web. 13 Aug. 2014. <http://www.forrester.com/The+State+Of+Customer+Experience+2011/fulltext/-/E-RES58635>.
Santos, Mike. "Mobile And Social Input Impacts Voice Of The Customer Strategies." Retail TouchPoints. N.p., 11 Dec. 2011. Web. 06 Oct. 2014. <http://www.retailtouchpoints.com/in-store-in-
sights/1215-mobile-and-social-input-impacts-voice-of-the-customer-strategies>.
Demou, George. "2014 Top Initiatives in Customer Experience (CX)." Avtex Blog: The Point of Interaction. N.p., 7 Feb. 2014. Web. 1 Oct. 2014. <http://blog.avtex.com/2014/02/07/2014-top-initia-
tives-in-customer-experience-cx/>.
Gaskin, Steven P., Abbie Griffin, John R. Hauser, Gerald M. Katz, and Robert L. Klein. "Voice of the Customer." (2011): n. pag. Massachusetts Institute of Technology. Web. 21 Aug. 2014.
<http://web.mit.edu/hauser/www/Papers/Gaskin_Griffin_Hauser_et_al%20VOC%20Encyclopedia%202011.pdf>.
Like the pioneers who forged
west in search of gold …
bitcoins could offer businesses
both reward and risk.
You may reproduce and distribute this infographic in its entirety. You may not create derivative works.
(Licensed under the Creative Commons: http://creativecommons.org/licenses/by-nd/3.0/)
GOLD MINE
THE
BITCOINS ARE A FINITE RESOURCE
Designed to expand to 21 million
bitcoins—no more, no less.
Each bitcoin can be divided
into 100 million satoshis.
The first miner to
solve the puzzle
earns 25 bitcoins
Input:
Account
sending the
bitcoins
Amount:
Amount of
bitcoins spent
Hardhats,headlamps&pickaxesTHE ELEMENTS OF A BITCOIN TRANSACTION:
Output:
Account
receiving the
bitcoins
Reliable, irreversible payments
Low or no fees
Quick transfers
Security and identity protection
Transparency
$
All the appeal
ofagoldrushDIGITAL, CRYPTO-CURRENCY PROMISES:
All the appeal
ofagoldrushDIGITAL, CRYPTO-CURRENCY PROMISES:
Deflationary
Low market acceptance
Volatile market
Beta status
Can be lost same as cash?
NEW!
21MM
25BTC
($8,640)
100MM
PanningforgoldHOW BITCOIN WORKS
Fromboomtowntoghosttown
Peer-to-peer network
Exchange digital money (bits in a computer)
Via a shared digital
ledger or blockchain
LEDGER
Transactions are confirmed
by complex algorithms
solved by bitcoin miners