Major investors such as Marc Andreessen and Richard Branson have invested hundreds of millions of dollars in bitcoin startups, showing confidence in bitcoin's value. While some myths persist that bitcoin is only used for drugs or illegal activities, major companies like Microsoft, Dell, and Expedia accept bitcoin, with over $150 billion in combined annual revenue. Additionally, concerns that bitcoin was hacked or that altcoins could replace it are addressed, noting that the decentralized blockchain has remained secure since 2009 and bitcoin benefits from first mover advantage and widespread adoption over other cryptocurrencies.

1. From 6¢ to $1100
Pyramid scheme or intrinsic value?

2. Bitcoin all-time price chart

3. What is Bitcoin?

4. $500 million invested in bitcoin start-ups
• Marc Andreessen, co-Founder of Netscape
• Barry Silbert, Founder and former CEO of
SecondMarket
• Reid Hoffman, co-Founder of LinkedIn; Facebook
investor
• Richard Branson, Founder of Virgin Atlantic airline
• Li Ka-Shing, “richest man in Asia” net worth of $32
billion
• Vikram Pandit, former CEO of Citigroup
• New York Stock Exchange (NYSE)

5. Myth #1: “Bitcoin is only used to buy drugs”
Rank Companies that accept bitcoin
Annual revenue
($billion)
1 Microsoft 86
2 Dell 56.9
3 Dish Network 13.9
4 Expedia 5.0
5 NewEgg 2.8
6 Overstock 1.3
7 TigerDirect 1.0
8 1-800 Flowers 0.8

6. Myth #2: “There is no advantage to bitcoin”
This parody advertisement highlights the benefits of bitcoin

7. Myth #3: “Bitcoin was hacked last year”
• Mt. Gox (a bitcoin exchange)
lost $450 million in bitcoin in
early 2014
• Mt. Gox is not bitcoin
• The bitcoin blockchain has not been “hacked”
since its early development in 2009
• Bitcoin’s network is 100x more powerful than
the world’s top 500 supercomputers combined

8. Myth #4: “There are hundreds of ‘altcoins’
that can replace bitcoin”
• Dogecoin, litecoin, darkcoin, peercoin, ripple…
• Bitcoin is the most secure
• First mover advantage
• Network effect of adoption

9. Myth #5: “Bitcoin sounds complicated”
• Buying bitcoin is as easy as online banking
Coinbase.com
San Francisco, CA
Circle.com
Boston, MA

10. • Target and JP Morgan hacked
– 100 million bank accounts compromised
• Sony hacked
• Centralized data storage is not secure
• Decentralized data storage: secure and cheaper
Other blockchain uses: Cloud storage
• Storjcoin—the future of
cloud storage?
– Early beta testing
– One Storjcoin (share) worth 2¢

11. Pyramid scheme or investment opportunity?

12. Questions?