Bitcoin and Blockchain overview
•Download as PPTX, PDF•
0 likes•213 views
What are Bitcoin and Blockchain? How Do I Safely Create a Wallet? How Do I Transfer Funds In/Out? Where Can I Invest Bitcoin?
Recommended
More Related Content
What's hot
What's hot (19)
Similar to Bitcoin and Blockchain overview
Similar to Bitcoin and Blockchain overview (20)
More from Value Amplify Consulting
More from Value Amplify Consulting (20)
Recently uploaded
Recently uploaded (20)
Bitcoin and Blockchain overview
- 1. For Smart People That Don’t Want To Stay In The Sidelines Adj. Prof. Giuseppe Mascarella giuseppe@valueamplify.com AGENDA 1. What are Bitcoin and Blockchain? 2. How Do I Safely Create a Wallet? 3. How Do I Transfer Funds In/Out? 4. Where Can I Invest Bitcoin? BITCOIN TRADER KICKSTARTER Value Amplify Consulting Confidential
- 2. WHERE THERE IS FEAR AND CONFUSION THERE ARE OPPORTUNITIES The Earth Is Flat, Christopher Columbus investment is a scam, he will never come back to Spain. “Internet is like sex in High School. Everybody talks about it and nobody does it” Copyrighted by Value Amplify Consulting Confidential
- 3. 1. What Is Bitcoin? Copyrighted by Value Amplify Consulting Confidential
- 4. ValueAmplify Consulting Confidential Source: http://markets.businessinsider.com/news/stocks/goldman-sachs-says-bitcoin-is-a-commodity-2017-11-1009967470
- 5. What Is A US Treasure Bond? A bearer Instrument 1. Holder has ownership 2. No other records kept as to identity of owner 3. Easy to keep anonymous 4. Hard or impossible to replace if lost or stolen What are the Cryptocurrencies? A Bearer Instrument, where: 1. Holder has ownership 2. No other records kept as to identity of owner 3. Easy to keep anonymous 4. Hard or impossible to replace if lost or stolen Copyrighted by Value Amplify Consulting Confidential
- 6. What Is The Difference Between CRYPTOCURRENCIES? BITCOIN: BTC or XBT ETHERIUM: ETH ValueAmplify Consulting Confidential Bitcoin offers “coins”. Ethereum generates “tokens” (SGSys) An “ICO” is a bitcoin/altcoin thing. A “Token Launch” is an Ethereum thing.
- 7. Top Coin and Tokens as of 11/24/17 ValueAmplify Consulting Confidential https://coinmarketcap.com
- 8. How Big Is The Market Capitalization $165B Dec 2017
- 9. Copyrighted by Value Amplify Consulting Confidential Trading BOT OPTY
- 10. 1. What is bitcoin and blockchain The Technology ValueAmplify Consulting Confidential
- 13. Value Amplify Consulting Confidential The term Blockchain is used for The underlying public ledger technology platform, needed also for cryptocurrencies. The term Smart Contract refers to The scripting system on a public ledger, that instead of just sending currency, sends contractual rights and obligations - including the terms for payment and delivery of goods and services - that can be automatically executed by an autonomous system that’s trusted by all signatories. What is BlockChain? Example: House Ledger Even if 30% of title have errors, it is better than peer managed What Problem Are We Addressing? Global Peer-To-Peer Trust!
- 15. ValueAmplify Consulting Confidential BitCoin ATM being deployed in NYC, Seattle, … www.coinme.com/locations
- 16. ValueAmplify Consulting Confidential https://bitpay.com/ Phone only: Mona.co How Can use Bitcoin?
- 17. For Smart People That Don’t Want To Stay In The Sidelines Adj. Prof. Giuseppe Mascarella giuseppe@valueamplify.com AGENDA 1. What are Bitcoin and Blockchain? 2. How Do I Safely Create a Crypto Wallet? 3. How Do I Transfer Funds In/Out? 4. Where Can I Invest Bitcoin? BITCOIN TRADER KICKSTARTER Value Amplify Consulting Confidential
- 18. ValueAmplify Consulting Confidential Wallets 1. Full Node Wallet (Be Your Own bank) Blockchain.info, Mycelium, Copay, Bitpay, Jaxx , Exodus, Bitcoin Core or Bitcoin Knots. These wallets store your private keys in a dedicated folder on your computer - 2. Hardware Wallet 3. Exchange Managed Wallet (Software Tools)
- 19. ValueAmplify Consulting Confidential Managing Wallets, Address, Public Keys and Private Keys https://www.youtube.com/watch?v=yr9tF-xWN3s Option 1: Be your own bank Option 2: Use a software
- 20. When and Where To Buy Bitcoin? ValueAmplify Consulting Confidential
- 21. For Smart People That Don’t Want To Stay In The Sidelines Adj. Prof. Giuseppe Mascarella giuseppe@valueamplify.com AGENDA 1. What are Bitcoin and Blockchain? 2. How Do I Safely Create a Wallet? 3. How Do I Transfer Funds In/Out? 4. Where Can I Invest Bitcoin? BITCOIN TRADER KICKSTARTER Value Amplify Consulting Confidential
- 22. 4. How Do I Transfer The Money In And Out $USD In Your Bank 1.Buy BitCoin 2. Save in a Wallet on BlockChain App Trading App BitCoin Trading ValueAmplify Consulting Confidential $USD Wallet with Bitcon Trading
- 23. 1. Transfer 2. Transfer in EURO Find: Destination Address Menu Withdraw EURO https://www.slideshare.net/giuseppema/how-to-buy-bitcoin-stepbystep
- 24. Copyrighted by Value Amplify Consulting - Confidential Trading robots are software tools to replicate a well thought-out trading strategy U.S. Securities and Exchange Commission’s approved them in 2008. The phrase “binary options” now receives 110,000 monthly searches in Google, only 20,000 less than “forex trading”. What Are The Trading BOTs?
- 25. Copyrighted by Value Amplify Consulting - Confidential
- 26. Adj.Prof.GiuseppeMascarella giuseppe@valueamplify.com BITCOIN E PROFIT Value Amplify Consulting Confidential Do you want to use my favorite Robot? Type: https://bitconnect.co/?ref=Giuseppemasc For questions: +1425 269 5478
- 27. Copyrighted by Value Amplify Consulting Confidential BITCOIN Class Copyrights Notice This courseware is property of Value Amplify and protected by US Copyright laws. Copyright Notice As required by 17 U.S.C. 403, third parties producing copyrighted works consisting predominantly of the material produced by U.S. government agencies must provide notice with such work(s) identifying the U.S. Government material incorporated and stating that such material is not subject to copyright protection within the United States. The information on government web pages is in the public domain and not subject to copyright protection within the United States unless specifically annotated otherwise (copyright may be held elsewhere). Foreign copyrights may apply.
Editor's Notes
- https://medium.com/@SingularDTV/whats-the-difference-between-an-ico-and-a-token-launch-7105edbb2112 Unspent Transaction Output, UTXO In the Bitcoin Blockchain. Managing two images visualizes the distribution of the unspent transaction outputs (UTXO) Each pixel represents a block, where each row is 300 blocks (~50 hours). The orange image displays the number of unspent transaction outputs per block, and the blue shows the combined value of those outputs. Ethereum is not designed specifically for financial transactions. Instead, it uses truth verification that powers cryptocurrency to create a platform for smart contracts between two parties. Third parties can choose to use the Ethereum network to implement financial transactions. Yet, the underlying contracts can be applied to several types of transactions. In fact, Ethereum has an entire programming language called Solidity that allows developers to leverage the Ethereum platform for their own smart, secure contracts. In the early days of Ethereum, it lacked serious traction. When prices were around $10 per ether (Ethereum’s coin), founder Vitalik Buterin sold a large amount of the Ethereum platform’s backing currency. This was the first “initial coin offering” (ICO.) From that event, they raised around $18 million . This catalyzed a movement for several technologies to sell part of their coin supply to kick-start their blockchain projects. To date, technology built on the Ethereum platform has now raised more than a billion dollars through ICO events.
- On the extreme other end of the spectrum, extreme volatility has been the hallmark of BTC. With a standard deviation of 4.36 vs 0.43 for the index, BTC is ten times more volatile than the S&P. Consider this; while the S&P appears unable to decline even a meager 3%, this year only BTC had five corrections greater than 20%. Not an asset class for the faint of heart. Yet as adoption starts to grow, volatility is also appearing to subside and it is now about one fourth of what it was in back in 2010-11. What is driving such extreme volatility? The extreme gap between demand and supply, mathematically metered in a deflationary progression, is responsible for BTC’s torrid appreciation. However, due to the lack of any valuation benchmark and the novelty of the instrument, price is being “discovered” in a step-function.
- Smart contracts in a public ledger system are a predicate-- Bitcoin's creator understood this. They take input-- about the transaction, and perhaps the chain-- and they accept or reject the update to the system. The network of thousands of nodes all around the world doesn't give a _darn_ about the particulars of the computation, they care only that it was accepted. The transaction is free to provide arbitrary side information to help it make its decision. Deciding if an arbitrarily complex condition was met doesn't require a turing complete language or what not-- the verification of a is in P not NP. In Bitcoin Script, we do use straight up 'computation' to answer these questions; because that is the simplest thing to do, and for trivial rule sets, acceptably efficient. But when we think about complex rule-- having thousands and thousands of computers all around the world replicate the exact same computation becomes obviously ludicrous, it just doesn't scale. Fortunately, we're not limited to the non-scalablity-- and non-privacy-- of making the public network repeat computation just to verify it. All we have to do is reconize that computation wasn't what we were doing from the very beginning, verification was! This immediately gives a number of radical improvements: "The program is big and I don't want to have to put it in the blockchain in advance." -> P2SH, hash of the program goes into the public key, the program itself ends up being side information. "The program is big but we're only going to normally use one Nth of it-- the branches related to everything going right" -> MAST, the program is decomposed into a tree of ORs ans the tree is merkelized. Only the taken OR branches ever need to be made public; most of the program is never published which saves capacity and improves confidentiality. "The program is big, and there are fixed number of parties to the contract. They'll likely cooperate so long as the threat of the program execution exists." -> Coinswap transformation; the entire contract stays outside of the blockchain entirely so long as the parties cooperate. "The program is big, and there are fixed number of parties to the contract, and I don't care if everything just gets put back to the beginning if things fail." -> ZKCP; run _arbitrary_ programs, which _never_ hit the blockchain, and are not limited by its expressive power (so long as it supports hash-locked transactions and refunds.) "The program is kinda big, and we don't mind economic incentives for enforcement in the non-cooperative case" -> challenge/response verification; someone says "I assert this contract accepts," and puts up a bond. If someone disagrees, they show up and put up a bond to say it doesn't. Now the first party has to prove it (e.g. but putting the contract on the chain) or they lose their bond to the second party, if they're successful they get the bond from the second party to pay the cost of revealing the contract. "The program is too big for the chain, but I don't want to depend on economic incentives and I want my contract to be private." -> ZKP smart contracts; PCP theorem proves that a program can be proved probabilisticly with no more data than log the size of its transcript. SNARKS use strong cryptographic assumptions to get non-interactive proofs for arbitrary programs which are constant size (a few hundred bytes). Slowness of the prover (and in the case of snarks, trusted setup of the public key-- though for fixed sets of participants, this can be avoided) limit the usefulness today but the tech is maturing. All of these radical improvements in scalablity, privacy, and flexibility show up when you realize that "turing complete" is the wrong tool, that what our systems do is verification, not computation. This cognitive error confers no advantage, outside of marketing to people with a fuzzy idea of what smart contracts might be good for in the first place. More powerful smart contracting in the world of Bitcoin will absolutely be a thing, I don't doubt. But the marketing blather around ethereum isn't power, it's a boat anchor-- a vector for consensus inconsistency and decentralization destroying resource exhaustion and incentives mismatches. Fortunately, the cognitive framework I've described here is well understood in the community of Bitcoin experts.