Bitcoin Masterclass TechweekNZ v3.1.pptx

Bitcoin Webinar and Meetup
Techweek NZ - Wellington, New Zealand
May 24th, 2024
5pm to 7:30pm NZT
Eva Street Pub, 35 Dixon St, Wellington, 6011
Maitland Waters
Digital Director
@maitlandwaters
Web: http://www.symbioagency.com | e: +maitland@symbioagency.com

©2012 Symbio Agency. - All rights reserved
Web: http://www.symbioagency.com | e:maitland@symbioagency.com
Bitcoin Meetup
https://bit.ly/4bfIksv
Eva Street Pub
35 Dixon Street
Wellington,
New Zealand
Google Meet Link:
View details and RSVP
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Be Like Water
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Overview
● Welcome. Introductions and Background
○ Symbio Agency
● What is Bitcoin
○ Decentralized Innovation
○ History of Bitcoin
○ Bitcoin Mining
○ Basics of #Blockchain Technology
○ Bitcoin Global Reach
● Alternative Coins
○ Ethereum, Binance, Etc
○ Bitcoin Volitility
○ The Unbanked Population
● Bitcoin Security and Wallets
○ Private and public keys
○ Wallet types (hardware, software, paper)
○ Best practices for securing your Bitcoin
● Privacy and Anonymity
● Bitcoin investing and trading
● The future of Bitcoin
● Q & A

SYMBIO AGENCY @
TECHWEEK 2024

London Digital Strategy 2011
Social Media @ Soho House
London 2011
▪ Facebook Megan Mark's
(Like button product
manager)
▪ LinkedIn
▪ 77 Agency
▪ Symbio Agency
▪ Charity Focus

New York City

Attendees and Participants
New Zealand
New York
Brooklyn
Auckland
Sydney
Arkansas. USA
Atlanta, GA
São Paulo Brazil
Los Angeles
London
Kenya
Chicago
Mumbai India
Barcelona
Netherlands
Dubai
Meta
Google
Facebook
TVNZ
Advertising
Agencies
Paypal
Apple
MediaWorks
TV Three
Stuff
Warner Bros
Sony
Accenture
Toyota

WHAT IS BITCOIN?

What is Bitcoin?
“Any sufficiently
advanced
technology is
indistinguishable
from magic.”
- Arthur C. Clarke

Fractional Reserve Banking
Fractional reserve banking is
a system where banks keep a
portion of their customers'
deposits in bank accounts, and
then lend the remaining funds
out or invest them. For example,
if a customer deposits $1,000
into a savings account and the
bank keeps 10% in reserves, the
bank would hold onto $100 and
lend out $900.

Decentralized Innovation
Bitcoin's peer-to-peer (P2P)
system draws inspiration from
Napster and BitTorrent in its
decentralized structure. Similar
to Napster, Bitcoin uses a P2P
network to share data between
users without a central authority.
Additionally, like BitTorrent,
Bitcoin employs a distributed
approach for sharing and
validating transaction data, with
each participant (node) in the
network contributing to the
overall system's security and
functionality. This decentralized
architecture ensures resilience
and prevents any single point of
failure or control.

Decentralized Innovation
Movie files are shared on
BitTorrent as 690mb in size.
Compressed from 4.7 GIG to less
than 700mb because that the
size a movie needs to be to
burned to a CD.

Why Was Bitcoin Created
Bitcoin was created in 2008 by
an anonymous person or group
called Satoshi Nakamoto to
provide an alternative payment
system that is not controlled by
a central authority. Bitcoin is a
virtual currency, or
cryptocurrency, that allows
people to send money over the
internet without the need for a
bank or other third party to act
as an intermediary. Bitcoin
transactions are recorded on a
public ledger and
cryptographically verified across
servers around the world, rather
than relying on a central
authority.

What is Bitcoin?
Bitcoin is:
▪ A currency
▪ A new form of money
▪ A payment network
▪ Distributed peer 2 peer
▪ Blockchain ledger
▪ Lives solely on the internet
▪ Worldwide / Global
▪ Almost free
▪ Pseudo anonymity
Paypal is a payment network
Visa / Mastercard / Amex
Money is a medium of exchange
Third party providers:
▪ Banks
▪ Credit card processes
▪ Remittance provider

Bitcoin Market Cap
…
As of May 13, 2024, Bitcoin's
market cap is:
$1,215.62 billion,
$61,714.57 per BTC.
This is an increase from
yesterday's market cap of
$1,199 trillion and a significant
increase from $517.34 billion
one year ago.

Jack Dorsey (Twitter) on Bitcoin
Twitter founder and Block chief executive
Jack Dorsey has said he expects the
bitcoin price to rocket to $1 million by
2030—which would give bitcoin a market
capitalization of $20 trillion—partly driven
by Block's bitcoin work.
Dorsey said he believed the bitcoin price
will grow rapidly due to people and
companies working to grow use of bitcoin
and improving the "ecosystem."
"The most amazing thing about bitcoin,
apart from the founding story, is anyone
who works on it, or gets paid in it, or buys
it for themselves—everyone who puts any
effort in to make it better—is making the
entire ecosystem better, which makes the
price go up," Dorsey said. "It's a
fascinating ecosystem and movement,
more than anything else. It taught me a
lot."
‘Beyond’ $20 Trillion By 2030—Jack
Dorsey’s Plan To Turbocharge The
Bitcoin Price
Source:
https://www.forbes.com/sites/digital-
assets/2024/05/12/beyond-20-trillion-by-
2030-jack-dorseys-plan-to-turbo-charge-
the-bitcoin-price/?sh=47bd30ed4b44

Bitcoin Supply and Distribution
If everybody in the entire world
started using bitcoin:
Each bitcoin would be divided
down to 100/millionth of a
Bitcoin = 1 SATOSHI would still
be worth less than 1 US penny.

HISTORY OF BITCOIN

History of Bitcoin
Satoshi Nakamoto
The inventor of Bitcoin
Bitcoin in circulation:
18.8 Million
Mining Of Bitcoin
Bitcoin mining is the process by
which new bitcoins are created
and transactions are validated on
the blockchain. Miners use
powerful computers to solve
complex mathematical puzzles,
securing the network and
earning bitcoins as a reward for
their work.

Satoshi Nakamoto
Satoshi Nakamoto is the
pseudonymous person or group
responsible for creating Bitcoin.
In 2008, Nakamoto published a
white paper titled "Bitcoin: A
Peer-to-Peer Electronic Cash
System" and released the first
Bitcoin software in 2009. Despite
much speculation, the true
identity of Satoshi Nakamoto
remains unknown.

BITCOIN MINING

Bitcoin Mining
Bitcoin mining is the network’s
method of transaction validation.
This process is also how new
Bitcoin are added to the existing
supply.
There are currently around 19.5
million Bitcoin in circulation and
the cryptocurrency is
programmed to have a total
supply of 21 million. The final
1.5 million or so are locked
away, waiting for users with
powerful computers to release
them through Bitcoin mining.
Bitcoin mining is like a digital
treasure hunt. Armed with
powerful computer hardware,
miners search for a 64-digit
hexadecimal code that validates
a block of transactions. This code
(also called a hash) is found
through a process called
hashing.
The amount of time varies based
on many factors, such as the
Bitcoin network’s current mining
difficulty. A difficulty adjustment
occurs every 2,016 blocks and
raises or lowers based on the
number of miners contributing.
More miners means a higher
difficulty, while fewer miners
means a lower difficulty.

Bitcoin Mining
Bitcoin’s creator programmed
the network to halve every
210,000 blocks (around every
four years) to create digital
scarcity. At this rate, Bitcoin
won’t hit its 21 million cap until
2140.
At that point, miners will still
earn rewards through transaction
fees but will no longer release
new Bitcoin into the network.
Each committed Bitcoin block
releases 3.125 Bitcoin. To
answer the central question in
mind, it takes an average of 10
minutes to mine not just 1
Bitcoin but 3 — and that rate will
fluctuate over time. But, due to
the massive amount of
computing power it takes to
mine a single block (otherwise
known as block time), it’s almost
impossible for one miner to
receive all 3.125 of the reward.

BLOCKCHAIN

Blockchain Explained
Blockchain is a decentralized digital
ledger that records transactions across a
network of computers. Each transaction
is stored in a block, which is linked to the
previous block, forming a chain. This
creates a transparent and immutable
record of transactions. Blockchains use
consensus mechanisms to validate and
add new blocks, ensuring the integrity
and security of the data.
This technology has applications beyond
cryptocurrencies, including supply chain
management, voting systems, and more,
due to its transparency, security, and
decentralization.

Bitcoin Transactions
In most cases, Bitcoin transactions cannot be
undone once they are confirmed and added to
the blockchain. This is because the blockchain's
decentralized and immutable nature ensures that
once a transaction is recorded, it becomes a
permanent part of the ledger.
However, in certain circumstances where a
transaction is pending and has not yet been
confirmed by the network, it may be possible to
cancel or replace it with a new transaction with a
higher fee. This process is known as transaction
acceleration or fee bumping and typically requires
the use of specialized wallet software or services.
Once a transaction is confirmed and included in a
block, it becomes increasingly difficult to reverse,
as it would require a majority of the network's
computing power to rewrite the entire blockchain
history, which is practically infeasible.
It's important to double-check transaction details
before sending funds, as incorrect transactions
cannot be easily reversed.

BITCOIN GLOBAL REACH

Bitcoin Global Reach
Bitcoin's global reach refers to its
accessibility and usage across
borders and jurisdictions
worldwide. Several factors
contribute to Bitcoin's global
reach:
Borderless Nature: Bitcoin
operates on a decentralized
network that is not controlled by
any single entity or government.
As a result, it can be sent and
received anywhere in the world
without restrictions or
intermediaries.
Internet Connectivity: Bitcoin
transactions require an internet
connection, making it accessible
to anyone with internet access,
regardless of their location. This
enables individuals in remote or
underserved areas to participate
in the Bitcoin economy.

Internet Connectivity: Bitcoin
transactions require an internet
connection, making it accessible
to anyone with internet access,
regardless of their location. This
enables individuals in remote or
underserved areas to participate
in the Bitcoin economy.
Financial Inclusion: Bitcoin
provides financial services to
individuals who may not have
access to traditional banking
services. This includes the
unbanked and underbanked
populations in developing
countries, who can use Bitcoin as
a secure and low-cost alternative
to traditional banking.
Remittances: Bitcoin enables
fast and low-cost cross-border
remittances, allowing individuals
to send money to family
members or friends in other
countries without relying on
expensive money transfer
services.

Investment and Speculation:
Bitcoin's global reach extends to
investors and speculators
worldwide who trade it on
various cryptocurrency
exchanges. This global market
provides liquidity and price
discovery, allowing individuals
from different countries to buy,
sell, and trade Bitcoin easily.
Global Recognition: Bitcoin has
gained recognition and
acceptance as a legitimate form
of digital currency worldwide.
Businesses, merchants, and
individuals in many countries
accept Bitcoin as a form of
payment, further expanding its
global reach and adoption.
Bitcoin's decentralized and
borderless nature, combined
with its utility as a digital
currency and investment asset,
contribute to its global reach and
growing influence in the global
economy.

NFT’s
NFTs, or Non-Fungible Tokens, are digital
assets that represent ownership or proof of
authenticity of unique items or content,
such as digital art, collectibles, virtual real
estate, and more. Unlike cryptocurrencies
like Bitcoin or Ethereum, which are fungible
and can be exchanged on a one-to-one
basis, NFTs are indivisible and cannot be
replicated or exchanged on a like-for-like
basis. Each NFT is unique and stored on a
blockchain, typically on platforms like
Ethereum, ensuring its scarcity, ownership,
and authenticity. NFTs have gained
popularity in recent years as a way for
creators to monetize digital content and for
collectors to own rare and unique digital
items.

Beyond Bitcoin
There are thousands of cryptocurrencies, commonly
referred to as altcoins, besides Bitcoin. Some popular
coins include:

ALTERNATIVE COINS

Alternative Coins
There are thousands of
cryptocurrencies, commonly
referred to as altcoins, besides
Bitcoin. Some popular
alternatives include:
▪ Ethereum (ETH)
▪ Binance Coin (BNB)
▪ Cardano (ADA)
▪ Solana (SOL)
▪ Ripple (XRP)
▪ Polkadot (DOT)
▪ Litecoin (LTC)
▪ Chainlink (LINK)
▪ Dogecoin (DOGE)
▪ Uniswap (UNI)
Ethereum (ETH): Known for its
smart contract functionality and
decentralized applications
(DApps).

Binance Coin (BNB): Used for
transactions on the Binance
exchange and other services
within the Binance ecosystem.
Alternative Coins

Cardano (ADA): A blockchain
platform known for its focus on
security and scalability.
Alternative Coins

Solana (SOL): A high-
performance blockchain known
for its fast transaction speeds
and low fees.
Alternative Coins

Ripple (XRP): Designed for
fast, low-cost international
money transfers.
Alternative Coins

Polkadot (DOT): A multi-chain
blockchain platform that enables
interoperability between different
blockchains.
Alternative Coins

Litecoin (LTC): Often referred
to as the "silver to Bitcoin's
gold," Litecoin is a peer-to-peer
cryptocurrency known for faster
transaction times.
Alternative Coins

Chainlink (LINK): A
decentralized oracle network that
connects smart contracts with
real-world data.
Alternative Coins

Dogecoin (DOGE): Originally
created as a joke, Dogecoin has
gained popularity as a fun and
friendly cryptocurrency.
Alternative Coins

Uniswap (UNI): A
decentralized exchange (DEX)
built on the Ethereum
blockchain, allowing users to
trade various tokens directly.
Alternative Coins

Bitcoin Volatility
Bitcoin's volatility can be attributed to several factors:
1. Limited Supply: Bitcoin has a capped supply of 21 million
coins, leading to scarcity and price fluctuations as demand
fluctuates.
2. Speculation: Many investors buy and sell Bitcoin based
on speculation rather than its inherent value, leading to
rapid price swings.
3. Market Sentiment: News events, regulatory
developments, and investor sentiment can greatly impact
Bitcoin's price, leading to sudden price changes.
4. Lack of Regulation: Bitcoin markets are relatively
unregulated compared to traditional financial markets,
allowing for greater price volatility.
5. Thin Order Books: Bitcoin's relatively low liquidity
compared to traditional assets can lead to large price
movements with relatively small buy or sell orders.
6. High Market Concentration: A relatively small number of
large holders (whales) can influence the market by buying
or selling large amounts of Bitcoin.
These factors, combined with Bitcoin's relatively young and
evolving market, contribute to its high volatility compared
to traditional assets like stocks or bonds.

The Unbanked Population
Fully 2.5 billion of the world’s
adults don’t use formal banks or
semiformal microfinance
institutions to save or borrow
money, our research finds.
Nearly 2.2 billion of these
unserved adults live in Africa,
Asia, Latin America, and the
Middle East. Unserved, however,
does not mean unservable. The
microfinance movement, for
example, has long helped
expand credit use among the
world’s poor—reaching more
than 150 million clients in 2008
alone.1

BITCOIN WALLETS

Basics of using a wallet
Introduction: A cryptocurrency
wallet is a digital tool used to
store, send, and receive
cryptocurrencies like Bitcoin.
Understanding how to use a wallet
is essential for anyone engaging
with cryptocurrencies. In this
module, we'll cover the basics of
using a wallet, including
recommendations for the top ten
wallets, how to backup and restore
your wallet, and the concept of
cold storage.

How to Choose a Wallet
▪ Consider factors like security
features, ease of use,
compatibility with your
desired cryptocurrencies,
and community trust.
▪ Research user reviews and
expert recommendations to
make an informed decision.

Types of Wallets
● Hardware Wallets: Physical
devices that store your
cryptocurrency offline, providing the
highest level of security.
● Software Wallets: Applications or
online services that store your
cryptocurrency keys on your device
or a remote server.
● Paper Wallets: A printed piece of
paper containing your public and
private keys for cold storage.

10 Best Bitcoin Wallets
Coinbase http://coinbase-consumer.sjv.io
Ledger https://www.ledger.com/
Exodus Wallet https://www.exodus.com/
Trezor https://trezor.io/
MetaMask https://metamask.io/
Guarda https://guarda.com/
Crypto.com DeFi Wallet https://crypto.com/defi-wallet
Trust Wallet https://trustwallet.com/
ZenGo https://zengo.com/
Source: https://coinledger.io/tools/best-crypto-wallet

Download From Google / Apple

How to Backup and Restore a Wallet
▪ Backup: Follow the
wallet's instructions to
backup your seed phrase
or private keys securely.
Store this backup in a safe
place, preferably offline.
▪ Restore: In case of wallet
loss or device damage,
use the backup seed
phrase or private keys to
restore your wallet on a
new device.

Bitcoin Cold Storage
▪ Cold storage refers to
storing cryptocurrency
offline, away from internet
connectivity, to minimize
the risk of hacking or
unauthorized access.
▪ Hardware wallets and
paper wallets are popular
forms of cold storage.
▪ Follow proper procedures
for generating and
securing your cold storage
wallet to ensure maximum
security.

Using a Wallet Summary
Conclusion:
Understanding the basics of
using a cryptocurrency wallet is
crucial for safely managing your
digital assets. By choosing a
reliable wallet, backing up and
restoring it securely, and
considering cold storage
options, you can enhance the
security of your cryptocurrency
holdings and engage with the
crypto space with confidence.

SECURITY AND BITCOIN

Bitcoin and Security
Security in the context of Bitcoin
refers to the protection of funds
and transactions from
unauthorized access,
manipulation, or theft. There are
several key aspects to Bitcoin
security:
Cryptographic Security: Bitcoin
transactions are secured using
cryptographic techniques. Each
user has a pair of cryptographic
keys: a public key (wallet address)
and a private key. Transactions are
signed with the private key, which
can only be accessed by the owner,
ensuring that only the rightful
owner can spend their bitcoins.
Decentralization: Bitcoin
operates on a decentralized
network of nodes, making it
resistant to single points of failure
or attack. This decentralization
enhances security by distributing
control and responsibility across
the network.

Immutable Ledger: The
blockchain, Bitcoin's public ledger,
records all transactions in a
tamper-resistant and immutable
manner. Once a transaction is
confirmed and added to the
blockchain, it becomes virtually
impossible to alter or reverse,
providing a transparent and
secure record of transactions.
Network Security: Bitcoin's
security is maintained by a network
of miners who validate transactions
and secure the network through the
process of mining. Miners compete
to solve complex mathematical
puzzles to add new blocks to the
blockchain, ensuring the integrity
and security of the network.
Wallet Security: Users must secure
their private keys to prevent
unauthorized access to their funds.
This can be done through hardware
wallets, software wallets with strong
encryption, and following best
practices such as using multi-
signature wallets and storing
backups securely.

Bitcoin's security is maintained
through a combination of
cryptographic techniques,
decentralized network
architecture, and consensus
mechanisms, making it one of
the most secure forms of digital
currency available. However,
users must remain vigilant and
take appropriate measures to
protect their funds and personal
information.

Bitcoin ATM - City Stop

Trade Crypto on an Exchange

Receive and Send Bitcoin

BITCOIN PRIVACY AND
ANONYMITY

Privacy and Anonymity
Bitcoin (BTC) Add More Privacy
Features?
One of the most touted features of Bitcoin
is its anonymity. While all transactions and
portfolios are publicly available, users can
hide behind wallet addresses. Additionally,
with no centralized entity behind the
technology, there is no single party with
the ability to view data for individuals or
be hacked. However, according to
infamous whistleblower Edward Snowden,
Bitcoin is still not private enough.
"I’ve been warning Bitcoin developers for
ten years that privacy needs to be
provided for at the protocol level. This is
the final warning. The clock is ticking,"
Snowden wrote in a post on X.

Privacy and Anonymity
Bitcoin provides a degree of
privacy but not complete
anonymity. While transactions
are recorded on a public ledger,
they don't reveal personal
information. However, addresses
can be traced, potentially
compromising user privacy.
Techniques like coin mixing and
using multiple addresses can
enhance privacy, but true
anonymity requires additional
tools like privacy-focused
cryptocurrencies or services.

BITCOIN TRADING AND
INVESTING

Bitcoin Transactions
Bitcoin transactions are not
encrypted in the traditional sense.
Instead, they are recorded on a
public ledger called the blockchain,
where each transaction is verified
and stored in a transparent and
tamper-resistant manner. However,
certain aspects of Bitcoin
transactions, such as the use of
cryptographic signatures and hash
functions, provide security and
privacy protections. While Bitcoin
itself isn't encrypted, users can
employ encryption techniques to
secure their wallets and transactions,
such as encrypting their private keys
or using encrypted communication
channels when conducting
transactions.

Bitcoin Investing

Bitcoin Trading and Investing
Bitcoin to Reach $420K by Decade's
End, Says Ric Edelman
Ric Edelman, founder of Edelman
Financial Engines, forecasts bitcoin will
reach $420,000 by the decade’s end. He
explained that if 1% of the world’s $738
trillion in financial assets were allocated
to bitcoin, it would result in $7.4 trillion
in inflows, raising bitcoin’s price to
$420,000.

THE FUTURE OF BITCOIN

The Future of Bitcoin
The future of Bitcoin is
uncertain but promising. As
adoption increases, Bitcoin
could become more widely
accepted as a store of value
and medium of exchange.
Technological advancements
may address scalability and
privacy concerns, while
regulatory clarity could further
legitimize its use. However,
challenges like competition
from other cryptocurrencies
and potential regulatory hurdles
remain. Overall, Bitcoin's future
depends on continued
innovation, adoption, and
adaptation to changing market
dynamics.

Bitcoin Scams and Warnings
Send small amounts before
sending large amounts
Verify addresses
Be aware of phishing scams
Never share your passwords
Use a VPN

The Time Is now.

Q + A

Donations and Koha
If you received value
from this presentation
please show your
gratitude by sending
contributions to:
bc1qlmvx9zkk9v358j8fjc
lylqjx9fpr8d7zusajrs

Event Links
Slideshare:
https://www.slideshare.net/slides
how/bitcoin-webinar-meetup-
techweek24-v2-5-
pptx/269178328
LinkedIn:
https://bit.ly/4bz4qGl
Google Meet:
https://calendar.app.google/DCrw
jvercxdSWEwq7
Twitter/X:
http://www.x.com/maitlandwaters

Appendix
Appendix

SYMBIO AGENCY
EXPERIENCE AND EXAMPLES

Social Media @ Imagine Gallery NYC
● Saatchi and Saatchi (Tom Eslinger)
● Holition
● Artwork by Alex Grey (COSM)
● Russian Chamber of Commerce NYC

Michael J Fox Foundation Strategy

https://www.slideshare.net/slideshow/uber-cadillac-digital-strategy-
detroit-auto-show/78304990
UBER Cadillac Detroit Autoshow

GovHack - Eye Test VR Strategy
http://bit.ly/psstgovhack2017

NZEdge.com / Sweeney Vesty

New York Fashion Week

Life Education Trust

NOW - Phil Keoghan / Amazing Race

Annie O Music@ The Standard Hotel

TrafficWatch and Rideshare WLG

Universal Music Group Player

SMWNY - Social Media Week NY

Annie O Music @ The Standard Hotel

Detroit - Motown Records

Lounge Candelas Album (NASA)
https://soundcloud.com/h-
track/lounge-candelas-2-
disc-
1?in=ritajoy/sets/francois-k

Symbio Experience

Vendo Services
Http://www.vendoservices.com
Bill better,
grow more.
INTELLIGENT PAYMENTS WITH A
HUMAN TOUCH
Maximize revenue, minimize
chargebacks and fraud, and keep
customers coming back. Drive
business forward.

Payment Processing - Vendo Services
Payment processing services to
e-commerce merchants,
including high-risk merchants.
Vendo offer frictionless
checkouts to keep consumers
happy and capture new
business. AI-enabled tools
provide smart pricing, simplify
checkout, and minimize fraud
and risk.
Vendo team guide merchants
through technical integrations,
regulatory compliance, and
capturing analytics to optimize
their revenue generation and
capture.

END

Bitcoin Masterclass TechweekNZ v3.1.pptx

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