This document provides an overview of Bitcoin including:
- Its history beginning in 2008 with Satoshi Nakamoto's paper introducing Bitcoin.
- How it functions as a digital currency without a central authority using cryptography and a peer-to-peer network.
- Perspectives on Bitcoin from technologists, economists, investors and governments who have varying views from seeing its potential to believing it is a bubble.
- The advantages it provides for payments including low costs, security, and lack of regulation but also weaknesses like its susceptibility to speculation and attracting criminal use due to pseudonymity.
Bitcoin is a decentralized digital currency created through mining using computing power. Transactions are recorded on a public blockchain and secured using cryptography. The document discusses Bitcoin's history and advantages like low fees, security, and decentralization. It also covers how Bitcoin is created through mining, stored in wallets, and transacted. Key points include how mining rewards are given to nodes who verify transactions, the importance of private keys and addresses, and why transactions may take time to clear due to blockchain verification.
Bitcoin, the Blockchain, and our Decentralized Future | Presentation for Geor...James L. Walpole
Bitcoin functions as digital cash that allows for peer-to-peer transactions without a central authority by using blockchain technology. Miners process and verify transactions added to the distributed public ledger, while users send and receive bitcoin through digital wallets. Bitcoin enables universal and low-cost transactions online, which could disrupt centralized systems for payments, authentication, marketplaces, and more through its ability to serve as a trustless and incorruptible record of value and history.
Short presentation about bitcoin in particular and crypto currencies in general.
Its mainly a description of whats money and what is bitcoin
why bitcoin will dominate
BLOCKCHAIN ,BITCOIN & CRYPTOCURRENCIES WORLD : MECHANICS AND CYBER CRIMEanupriti
The world of Blockchain and Cryptocurrencies is undeniably amazing and has infinity to explore at hands.Recently I took on a 4 hour session at the prestigious Central Bureau of Investigations,CBI Academy ,Ghaziabad, vide Indian Technical and Economic Cooperation Programme organised by Ministry of External Affairs , to cover right from scratch to overview of mechanics and architecture of how this world works.Sharing here the presentation for info and awareness of anyone who is interested to take a dip in this domain and related cyber crime activities.
Bitcoin Challenges - The Dawn of Trustless ComputingMichele Mostarda
Bitcoin uses a decentralized peer-to-peer network and cryptographic proof instead of trust to allow users to transact directly without intermediaries. The network maintains a public distributed ledger called the blockchain that records all transactions. Consensus on the blockchain is reached through proof-of-work mining, where miners validate transactions and are rewarded with new bitcoins. Users can obtain, store, and spend bitcoins using wallets that control private keys to digitally sign transactions on the blockchain.
The document discusses Bitcoin and cryptocurrency. It begins by defining Bitcoin as a digital currency and decentralized payment system. It then covers how Bitcoin works through the blockchain network, how new Bitcoins are created through mining, and different types of Bitcoin wallets. The document also explores how Bitcoin can currently be used for purchases and money transfers, and speculates that Bitcoin may become more stable and widely used in the future as an alternative global currency.
Bitcoin: The Internet of Money PresentationMaheshInder2
A brief Bitcoin presentation that describes what is bitcoin and why do we need it. It covers all the technical aspects and current statistics. Enjoy guys. Thank me later!
Bitcoin is a decentralized digital currency created through mining using computing power. Transactions are recorded on a public blockchain and secured using cryptography. The document discusses Bitcoin's history and advantages like low fees, security, and decentralization. It also covers how Bitcoin is created through mining, stored in wallets, and transacted. Key points include how mining rewards are given to nodes who verify transactions, the importance of private keys and addresses, and why transactions may take time to clear due to blockchain verification.
Bitcoin, the Blockchain, and our Decentralized Future | Presentation for Geor...James L. Walpole
Bitcoin functions as digital cash that allows for peer-to-peer transactions without a central authority by using blockchain technology. Miners process and verify transactions added to the distributed public ledger, while users send and receive bitcoin through digital wallets. Bitcoin enables universal and low-cost transactions online, which could disrupt centralized systems for payments, authentication, marketplaces, and more through its ability to serve as a trustless and incorruptible record of value and history.
Short presentation about bitcoin in particular and crypto currencies in general.
Its mainly a description of whats money and what is bitcoin
why bitcoin will dominate
BLOCKCHAIN ,BITCOIN & CRYPTOCURRENCIES WORLD : MECHANICS AND CYBER CRIMEanupriti
The world of Blockchain and Cryptocurrencies is undeniably amazing and has infinity to explore at hands.Recently I took on a 4 hour session at the prestigious Central Bureau of Investigations,CBI Academy ,Ghaziabad, vide Indian Technical and Economic Cooperation Programme organised by Ministry of External Affairs , to cover right from scratch to overview of mechanics and architecture of how this world works.Sharing here the presentation for info and awareness of anyone who is interested to take a dip in this domain and related cyber crime activities.
Bitcoin Challenges - The Dawn of Trustless ComputingMichele Mostarda
Bitcoin uses a decentralized peer-to-peer network and cryptographic proof instead of trust to allow users to transact directly without intermediaries. The network maintains a public distributed ledger called the blockchain that records all transactions. Consensus on the blockchain is reached through proof-of-work mining, where miners validate transactions and are rewarded with new bitcoins. Users can obtain, store, and spend bitcoins using wallets that control private keys to digitally sign transactions on the blockchain.
The document discusses Bitcoin and cryptocurrency. It begins by defining Bitcoin as a digital currency and decentralized payment system. It then covers how Bitcoin works through the blockchain network, how new Bitcoins are created through mining, and different types of Bitcoin wallets. The document also explores how Bitcoin can currently be used for purchases and money transfers, and speculates that Bitcoin may become more stable and widely used in the future as an alternative global currency.
Bitcoin: The Internet of Money PresentationMaheshInder2
A brief Bitcoin presentation that describes what is bitcoin and why do we need it. It covers all the technical aspects and current statistics. Enjoy guys. Thank me later!
Bitcoin and Permissionless Innovation - The Dawn of Trustless Computing v.18Michele Mostarda
This document provides an introduction and overview of Bitcoin and blockchain technologies. It begins with discussing limitations of traditional money and defines what Bitcoin is as a trustless, digital currency. The document then covers Bitcoin basics like how it works, its history and key figures. It also discusses related concepts like crypto facts, wallets, exchanges and using Bitcoin for payments. The goal is to inform and inspire adoption of Bitcoin and other blockchain technologies.
Bitcoin is a decentralized digital currency that allows people to transfer funds between each other without a central authority. It operates on a peer-to-peer network where transactions are verified by miners who are rewarded with bitcoins. While bitcoin offers anonymity and accessibility, it also faces security risks like theft and price volatility due to its limited supply and speculative nature. Whether bitcoin can replace traditional currencies as a stable store of value remains uncertain.
The almost complete guide explaining Bitcoin, philosophy, history, technology, use, the good/bad, how to buy, trading, and its future.
Thanks a lot for a cup of coffee.... =)
Bitcoin : 1ChyUCv7Qqz5fqfb4QhUsYYGmeMfz99vr7
Bitcoin Cash : 18AH4EyLo7djvfKHuRxjVh1cWPJH93ppAx
Ethereum : 0x449fFDBBcD2328662B67Ba3103ce83834d140bf7
Litecoin: 32XW2vssbd2V2tY1MbsRdRoz4UAUw2G4j6
Dogecoin : A8zoTQk9RauhRDbvEQF1bhB5h7dFtVnveX
Preferred Crypto Exchange : Binance
https://www.binance.com/?ref=10955776
Thank you.
The Future of Bitcoin - State of Digital Money 2015 conferenceJeff Garzik
The document discusses the future of Bitcoin, including:
1) Bitcoin is still in its early stages of development as a currency, though 2015 was a pivotal year.
2) Technologies like payment channels and the "Lightning network" aim to enable instant, secure payments using Bitcoin and layer two protocols.
3) Longer term, more advanced applications of the blockchain could include smart property transfers, satellites broadcasting the blockchain from space, and optimized supply chain networks.
The document provides an overview of key Bitcoin concepts and terms. It explains that Bitcoin is both a protocol and cryptocurrency created in 2009 to allow for trustless international payments without intermediaries. Transactions transfer ownership of units of the cryptocurrency (bitcoins) through a distributed public ledger called the blockchain, with ownership proved through public/private key cryptography. There will ultimately only ever be 21 million bitcoins created.
Bitcoin 101: The Currency, The Network, The CommunityEarthsite
Bitcoin and the underlying technology of cryptocurrency is poised to revolutionize the world of banking and financial equity. Can Bitcoin make it through the volatile startup years and be adopted as a global currency? With an estimated 50,000 businesses now accepting Bitcoin and more than $100 million in venture capital investments, 2014 could be the tipping point for this new form of value exchange.
In this introductory presentation, you'll learn what Bitcoin is, why the technology is revolutionary and how you can get involved in the community. Find out how businesses can save 2-3% on credit card fees and have instant access to a global market. Discover how digital currencies are supporting thriving local economies. Don't miss this opportunity to educate yourself on the fundamentals of Bitcoin and see how you and your business will benefit.
Slides from a talk given to a Students for Liberty group at the University of Pittsburgh in February 2017. This talk covers what Bitcoin is, how it works, why people use it, how to use it, and how Bitcoin's innovation is impacting everything from payments to software to government.
Bitcoin Presentation to the Banking Control CommissionStéphane Abichaker
This document provides an overview of Bitcoin and discusses whether it can be considered a currency. It notes that Bitcoin has received a lot of negative press over security issues and volatility. However, it argues that Bitcoin's value is based on the underlying cryptography and distributed ledger system rather than people's credulity, so it is not a Ponzi scheme. The document discusses Bitcoin's characteristics as a potential store of value, means of exchange, and unit of account. It also outlines some technical details and both weaknesses and strengths of the Bitcoin system. Finally, it argues that blockchain technology may represent a paradigm shift and that central banks should study cryptocurrencies and consider related regulations.
Learn to trade cryptocurrency and bank huge daily profit. This slide exposes you to cryptocurrency trading basics.
You will learn;
What is Cryptocurrency?
How to Open a Bitcoin Wallet
How to fund your Bitcoin wallet
How to Open a Cryptocurrency Trading Account
How to fund your Trading account
How to place a Trade
How to set Stop loss and take profit
Market Analysis Technique
Trading rules and guidelines
Ultimately, you will discover how to become a cryptocurrency trading professional and build a profitable cryptocurrency trading career.
Blockchain and cryptocurrencies like Bitcoin enable new forms of digital money and financial contracts. Bitcoin introduced a trustless digital currency using cryptography to secure a distributed public ledger called the blockchain. Miners on the Bitcoin network process transactions and add them to blocks which get added to the immutable blockchain roughly every 10 minutes. Over time, the blockchain has grown large as a record of all transactions, posing scalability challenges. New applications like smart contracts and alternative currencies like Namecoin build on this innovation to enable decentralized applications and services.
Now is a very good time to take an interest in Bitcoin and invest in it. It has been going strong for 10 years and its popularity has soared. In order to make the best returns on Bitcoin investments you need to understand what it really is and how it works.
You also need to know the best way to obtain Bitcoins and the best investment strategies. This guide will show you all of this and more. Many people think that Bitcoin is a scam but it certainly isn’t.
However there have been some scams in the cryptocurrency world and you will find out how to avoid these and stay safe in this guide.
'Intro to bitcoin presentation' by Roman SkaskiwMartaIvanyshyn
This talk covers the history of money: how commodity money evolved naturally from barter economies, how paper receipts replaced gold, how fiat money replaced paper receipts, and finally, how bitcoin threatens to replace fiat money.
We @ GainBitCoin combine BTC Cloud Mining & Network Marketing to produce a world class opportunity. Contrary to popular belief, Bitcoin Cloud Mining and Network marketing are both very successful processes in their own domain. If handled smartly both of the process can provide immense opportunity.
This document provides an overview of Bitcoin, including:
- Bitcoin is the world's first decentralized digital currency, with no central authority.
- It uses cryptography and a peer-to-peer network to allow users to send and receive money anywhere in the world without third party intermediaries.
- The blockchain records all Bitcoin transactions in a growing list of blocks to prevent double-spending and determine the legitimate owner of coins.
Since its launch in 2009, Bitcoin has emerged like a global phenomenon. Garnering massive success, Bitcoin has added to proliferation of virtual currencies, leading to creation of virtual trading / crypto currency exchanges, bringing an unprecedented semantic distinction to the form of money.
While Bitcoin saga brought a distinctive financial ecosystem to life, it didn't come without its own set of risks and challenges. In recent years, Bitcoin infrastructure and users have faced numerous risks including money laundering incidents, targeted cyber attacks and malware threats on digital wallets. As many security professionals observe, proliferation of digital currencies has also given rise to cyber crime and other forms of digital disruption. This webinar aims to facilitate useful understanding into Bitcoin evolution, its growing importance and several security incidents launched at Bitcoin infrastructure
This document provides an overview of Bitcoin, including how the Bitcoin ecosystem works, how mining generates new Bitcoins, advantages like low transaction fees and anonymity, concerns around volatility and security, and predictions about Bitcoin disrupting traditional banking and financial systems. Key points covered include Bitcoin being the first cryptocurrency based on public key cryptography, the decentralized peer-to-peer network maintaining the blockchain, and opportunities for innovative applications in digital transactions globally.
Cryptocurrencies like Bitcoin have significant economic, social, and political impacts. Economically, they increase global investment and financial access but also create high volatility. Socially, they enable pseudonymous transactions but also allow for potential criminal uses of anonymity. Politically, they can undermine government control of currency but also make regulation difficult. Overall, the document discusses both benefits and challenges of cryptocurrencies across many domains.
Sunstone Capital, Avalanche 2014 - Bitcoin: Primer, State of Play, DiscussionYacine Ghalim
Every winter, Sunstone hosts an offsite event with the participation of executives from our portfolio companies, fellow VCs, and various thought leaders.
The event is designed to mix informal networking, stimulating discussions around key topics shaping our industry, and intense skiing. We find that the best inspiration and ideas are generated when you least expect it, and in company with people that challenge your thinking.
This year's edition took us to Courmayeur in the Italian Alps, and Bitcoin was on the list of topics we discussed. Here are the supporting slides from our Jan 24th presentation "Bitcoin: Primer, State of Play, Discussion".
http://www.sunstone.eu
Sixth lesson for the Bitcoin and Blockchain Technology course of Milano Bicocca University (2017)
Video (in Italian) available at https://goo.gl/g65Nzp
Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...Chimezie Chuta
Chimezie Chuta is a leading figure in the African blockchain community, serving as an advisory board member at Kinesis Money and founding several blockchain organizations. He has authored books on blockchain and digital currencies and is a frequent speaker at conferences on these topics. Chuta also plays a key role in organizing major blockchain and cryptocurrency events in Nigeria and advising the government on blockchain innovation projects.
Bitcoin and Permissionless Innovation - The Dawn of Trustless Computing v.18Michele Mostarda
This document provides an introduction and overview of Bitcoin and blockchain technologies. It begins with discussing limitations of traditional money and defines what Bitcoin is as a trustless, digital currency. The document then covers Bitcoin basics like how it works, its history and key figures. It also discusses related concepts like crypto facts, wallets, exchanges and using Bitcoin for payments. The goal is to inform and inspire adoption of Bitcoin and other blockchain technologies.
Bitcoin is a decentralized digital currency that allows people to transfer funds between each other without a central authority. It operates on a peer-to-peer network where transactions are verified by miners who are rewarded with bitcoins. While bitcoin offers anonymity and accessibility, it also faces security risks like theft and price volatility due to its limited supply and speculative nature. Whether bitcoin can replace traditional currencies as a stable store of value remains uncertain.
The almost complete guide explaining Bitcoin, philosophy, history, technology, use, the good/bad, how to buy, trading, and its future.
Thanks a lot for a cup of coffee.... =)
Bitcoin : 1ChyUCv7Qqz5fqfb4QhUsYYGmeMfz99vr7
Bitcoin Cash : 18AH4EyLo7djvfKHuRxjVh1cWPJH93ppAx
Ethereum : 0x449fFDBBcD2328662B67Ba3103ce83834d140bf7
Litecoin: 32XW2vssbd2V2tY1MbsRdRoz4UAUw2G4j6
Dogecoin : A8zoTQk9RauhRDbvEQF1bhB5h7dFtVnveX
Preferred Crypto Exchange : Binance
https://www.binance.com/?ref=10955776
Thank you.
The Future of Bitcoin - State of Digital Money 2015 conferenceJeff Garzik
The document discusses the future of Bitcoin, including:
1) Bitcoin is still in its early stages of development as a currency, though 2015 was a pivotal year.
2) Technologies like payment channels and the "Lightning network" aim to enable instant, secure payments using Bitcoin and layer two protocols.
3) Longer term, more advanced applications of the blockchain could include smart property transfers, satellites broadcasting the blockchain from space, and optimized supply chain networks.
The document provides an overview of key Bitcoin concepts and terms. It explains that Bitcoin is both a protocol and cryptocurrency created in 2009 to allow for trustless international payments without intermediaries. Transactions transfer ownership of units of the cryptocurrency (bitcoins) through a distributed public ledger called the blockchain, with ownership proved through public/private key cryptography. There will ultimately only ever be 21 million bitcoins created.
Bitcoin 101: The Currency, The Network, The CommunityEarthsite
Bitcoin and the underlying technology of cryptocurrency is poised to revolutionize the world of banking and financial equity. Can Bitcoin make it through the volatile startup years and be adopted as a global currency? With an estimated 50,000 businesses now accepting Bitcoin and more than $100 million in venture capital investments, 2014 could be the tipping point for this new form of value exchange.
In this introductory presentation, you'll learn what Bitcoin is, why the technology is revolutionary and how you can get involved in the community. Find out how businesses can save 2-3% on credit card fees and have instant access to a global market. Discover how digital currencies are supporting thriving local economies. Don't miss this opportunity to educate yourself on the fundamentals of Bitcoin and see how you and your business will benefit.
Slides from a talk given to a Students for Liberty group at the University of Pittsburgh in February 2017. This talk covers what Bitcoin is, how it works, why people use it, how to use it, and how Bitcoin's innovation is impacting everything from payments to software to government.
Bitcoin Presentation to the Banking Control CommissionStéphane Abichaker
This document provides an overview of Bitcoin and discusses whether it can be considered a currency. It notes that Bitcoin has received a lot of negative press over security issues and volatility. However, it argues that Bitcoin's value is based on the underlying cryptography and distributed ledger system rather than people's credulity, so it is not a Ponzi scheme. The document discusses Bitcoin's characteristics as a potential store of value, means of exchange, and unit of account. It also outlines some technical details and both weaknesses and strengths of the Bitcoin system. Finally, it argues that blockchain technology may represent a paradigm shift and that central banks should study cryptocurrencies and consider related regulations.
Learn to trade cryptocurrency and bank huge daily profit. This slide exposes you to cryptocurrency trading basics.
You will learn;
What is Cryptocurrency?
How to Open a Bitcoin Wallet
How to fund your Bitcoin wallet
How to Open a Cryptocurrency Trading Account
How to fund your Trading account
How to place a Trade
How to set Stop loss and take profit
Market Analysis Technique
Trading rules and guidelines
Ultimately, you will discover how to become a cryptocurrency trading professional and build a profitable cryptocurrency trading career.
Blockchain and cryptocurrencies like Bitcoin enable new forms of digital money and financial contracts. Bitcoin introduced a trustless digital currency using cryptography to secure a distributed public ledger called the blockchain. Miners on the Bitcoin network process transactions and add them to blocks which get added to the immutable blockchain roughly every 10 minutes. Over time, the blockchain has grown large as a record of all transactions, posing scalability challenges. New applications like smart contracts and alternative currencies like Namecoin build on this innovation to enable decentralized applications and services.
Now is a very good time to take an interest in Bitcoin and invest in it. It has been going strong for 10 years and its popularity has soared. In order to make the best returns on Bitcoin investments you need to understand what it really is and how it works.
You also need to know the best way to obtain Bitcoins and the best investment strategies. This guide will show you all of this and more. Many people think that Bitcoin is a scam but it certainly isn’t.
However there have been some scams in the cryptocurrency world and you will find out how to avoid these and stay safe in this guide.
'Intro to bitcoin presentation' by Roman SkaskiwMartaIvanyshyn
This talk covers the history of money: how commodity money evolved naturally from barter economies, how paper receipts replaced gold, how fiat money replaced paper receipts, and finally, how bitcoin threatens to replace fiat money.
We @ GainBitCoin combine BTC Cloud Mining & Network Marketing to produce a world class opportunity. Contrary to popular belief, Bitcoin Cloud Mining and Network marketing are both very successful processes in their own domain. If handled smartly both of the process can provide immense opportunity.
This document provides an overview of Bitcoin, including:
- Bitcoin is the world's first decentralized digital currency, with no central authority.
- It uses cryptography and a peer-to-peer network to allow users to send and receive money anywhere in the world without third party intermediaries.
- The blockchain records all Bitcoin transactions in a growing list of blocks to prevent double-spending and determine the legitimate owner of coins.
Since its launch in 2009, Bitcoin has emerged like a global phenomenon. Garnering massive success, Bitcoin has added to proliferation of virtual currencies, leading to creation of virtual trading / crypto currency exchanges, bringing an unprecedented semantic distinction to the form of money.
While Bitcoin saga brought a distinctive financial ecosystem to life, it didn't come without its own set of risks and challenges. In recent years, Bitcoin infrastructure and users have faced numerous risks including money laundering incidents, targeted cyber attacks and malware threats on digital wallets. As many security professionals observe, proliferation of digital currencies has also given rise to cyber crime and other forms of digital disruption. This webinar aims to facilitate useful understanding into Bitcoin evolution, its growing importance and several security incidents launched at Bitcoin infrastructure
This document provides an overview of Bitcoin, including how the Bitcoin ecosystem works, how mining generates new Bitcoins, advantages like low transaction fees and anonymity, concerns around volatility and security, and predictions about Bitcoin disrupting traditional banking and financial systems. Key points covered include Bitcoin being the first cryptocurrency based on public key cryptography, the decentralized peer-to-peer network maintaining the blockchain, and opportunities for innovative applications in digital transactions globally.
Cryptocurrencies like Bitcoin have significant economic, social, and political impacts. Economically, they increase global investment and financial access but also create high volatility. Socially, they enable pseudonymous transactions but also allow for potential criminal uses of anonymity. Politically, they can undermine government control of currency but also make regulation difficult. Overall, the document discusses both benefits and challenges of cryptocurrencies across many domains.
Sunstone Capital, Avalanche 2014 - Bitcoin: Primer, State of Play, DiscussionYacine Ghalim
Every winter, Sunstone hosts an offsite event with the participation of executives from our portfolio companies, fellow VCs, and various thought leaders.
The event is designed to mix informal networking, stimulating discussions around key topics shaping our industry, and intense skiing. We find that the best inspiration and ideas are generated when you least expect it, and in company with people that challenge your thinking.
This year's edition took us to Courmayeur in the Italian Alps, and Bitcoin was on the list of topics we discussed. Here are the supporting slides from our Jan 24th presentation "Bitcoin: Primer, State of Play, Discussion".
http://www.sunstone.eu
Sixth lesson for the Bitcoin and Blockchain Technology course of Milano Bicocca University (2017)
Video (in Italian) available at https://goo.gl/g65Nzp
Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...Chimezie Chuta
Chimezie Chuta is a leading figure in the African blockchain community, serving as an advisory board member at Kinesis Money and founding several blockchain organizations. He has authored books on blockchain and digital currencies and is a frequent speaker at conferences on these topics. Chuta also plays a key role in organizing major blockchain and cryptocurrency events in Nigeria and advising the government on blockchain innovation projects.
This e-book is a comprehensive guide to crypto-quantum, the revolutionary technology that enables secure communication, data storage, and authentication. It provides an in-depth look at the cryptographic algorithms that make crypto-quantum secure, and how they can be used in a variety of applications. It also covers the basics of quantum computing and its implications for the future of cryptography. With the help of this e-book, you can gain the knowledge and skills to apply this emerging technology to your own projects.
Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
Through this presentation, you will procure good understanding regarding Blockchain and Cryptocurrency. If you find this helpful, don't forget to mention in comments. Also you can subscribe my YouTube channel for more information and presentations. https://youtube.com/shorts/HUn5Np4lklU?feature=share
Cryptocurrencies like Bitcoin emerged from the invention of blockchain technology, which allows for a decentralized digital ledger system without a central authority. The first cryptocurrency, Bitcoin, was created in 2008 by Satoshi Nakamoto as a peer-to-peer electronic cash system without central control. Cryptocurrencies use cryptography to securely record transactions on distributed ledgers called blockchains, preventing double spending without central servers. Their values are determined by the market rather than controlled by governments.
Naos Blockchain presents this report with the following objectives:
1. Describe the evolution of the crypto market and give a
comprehensive summary of the current market situation.
2. Provide detailed information regarding major factors
influencing the market. Drivers, restraints, opportunities,
and challenges.
3. Present the outlook as perceived by the NAOS Team.
This report was created at the beginning of 2019, therefore all data up to February 2019 is historical data, with the base
year for calculations being 2018.
This guide is all about explaining Bitcoin and cryptocurrencies in simple terms. Here's what it covers:
Bitcoin is a type of digital money, and cryptocurrency is a digital currency. A few years ago, people didn't know much about these terms, and some thought they were just a passing trend.
www.coinxtrading.com , wwww.coinxtrading.biz,
COINX TRADING LTD
Coinx Trading - Marketing - Business Plan - Binary Compensation Plan ,Affiliate Marketing Plan
Coinx Trading - Marketing - Business Plan
Email: support@coinxtrading.com
CoinX Trading Business Concept EnglishRomeo Abuhan
How do you like to get paid everyday? How do you like to earn money by trading and investment? Earning is that easy. Earn everyday, over and over again with CoinX Trading.
Coinx Trading offering Bitcoin Trading opportunity with fixed daily returns.
Earn daily 0.4% to 1.5% per day.
With affiliated incomes,
Direct referral 10%, and
Binary income 10%, unlimited levels.
TRADE AND INVEST with doing nothing. No hard selling, no hassle.
Register free here:
http://ow.ly/NwGa30ewwbx
This document promotes an investment program called COINX TRADING that trades in digital currencies like Bitcoin. It highlights COINX TRADING's legal registrations in the UK and USA and features like guaranteed profits, secure investments, and earning daily returns. It discusses the growth of Bitcoin and cryptocurrencies overall, arguing they provide major investment opportunities due to their limited supply, global acceptance, and increasing transactions and market capitalization. Several reasons are given for why Bitcoin is seen as the currency of the future and a good investment, such as its decentralization, increasing merchant acceptance, and positive government regulations so far.
This document promotes an investment program called COINX TRADING that trades in digital currencies like Bitcoin. It highlights COINX TRADING's legal registrations in the UK and USA and features like guaranteed profits, secure investments, and earning daily returns. It discusses the growth of Bitcoin and cryptocurrencies overall, arguing they provide major investment opportunities due to their limited supply, global acceptance, and increasing transactions and market capitalization. Several reasons are given for why Bitcoin is seen as the currency of the future and a good investment, such as its decentralization, increasing merchant acceptance, and positive government regulations so far.
How do you like to get paid everyday? How do you like to earn money by trading and investment? Earning is that easy. Earn everyday, over and over again with CoinX Trading.
Coinx Trading offering Bitcoin Trading opportunity with fixed daily returns.
Earn daily 0.4% to 1.5% per day.
With affiliated incomes,
Direct referral 10%, and
Binary income 10%, unlimited levels.
TRADE AND INVEST with doing nothing. No hard selling, no hassle.
Register free here:
http://ow.ly/NwGa30ewwbx
www.coinxtrading.com , wwww.coinxtrading.biz,
COINX TRADING LTD
Coinx Trading - Marketing - Business Plan - Binary Compensation Plan ,Affiliate Marketing Plan
Coinx Trading - Marketing - Business Plan
Email: support@coinxtrading.com
How do you like to get paid everyday? How do you like to earn money by trading and investment? Earning is that easy. Earn everyday, over and over again with CoinX Trading.
Coinx Trading offering Bitcoin Trading opportunity with fixed daily returns.
Earn daily 0.4% to 1.5% per day.
With affiliated incomes,
Direct referral 10%, and
Binary income 10%, unlimited levels.
TRADE AND INVEST with doing nothing. No hard selling, no hassle.
Register free here:
http://ow.ly/NwGa30ewwbx
How do you like to get paid everyday? How do you like to earn money by trading and investment? Earning is that easy. Earn everyday, over and over again with CoinX Trading.
Coinx Trading offering Bitcoin Trading opportunity with fixed daily returns.
Earn daily 0.4% to 1.5% per day.
With affiliated incomes,
Direct referral 10%, and
Binary income 10%, unlimited levels.
TRADE AND INVEST with doing nothing. No hard selling, no hassle.
Register free here:
http://ow.ly/NwGa30ewwbx
Bitcoin is a decentralized peer-to-peer payment network that allows for censorship-resistant transactions without middlemen. It uses cryptography to secure transactions recorded on a shared public ledger called the blockchain. Miners verify transactions and are rewarded with new bitcoins. The document argues that bitcoin is the most important invention of the 21st century as the first global decentralized currency allowing instant value transfer anywhere, with the potential to enable new technologies beyond payments.
Bitcoin is an open-source cryptocurrency created by the pseudonymous Satoshi Nakamoto. It is a decentralized digital currency that uses peer-to-peer technology to operate without a central authority. Transactions are verified through a proof-of-work system and recorded in a public distributed ledger called a blockchain. While bitcoin offers advantages like instant transactions and anonymity, it also faces challenges like volatility, scalability issues, and the risk of losing coins if private keys are lost. Overall, bitcoin remains a controversial new currency that some see as the future while others see risks in its use and acceptance.
Bitcoin is a cryptocurrency and decentralized payment system that was created in 2009 by an unknown person under the name Satoshi Nakamoto. Transactions occur directly between users without an intermediary and are recorded on a public distributed ledger called the blockchain. New bitcoins are generated by miners who verify transactions and are rewarded with new bitcoins. The blockchain records all transactions and grows continuously as new blocks are added, allowing anyone to trace transactions back to the original creation of bitcoins.
4. www.vestforsk.no
The main problem with the Bitcoin debate
The technologists don’t understand economy
The economists don’t understand technology
5. www.vestforsk.no
Outline
What is money?
What is Bitcoin?
Bitcoin history
Bitcoin and the financial crisis
What does the Government say?
The technology
Bitcon in practice
The future of Bitcoin
6. www.vestforsk.no
What is money?
Wikipedia: ”Money is any object or record that is generally
accepted as payment for goods and services and repayment of
debts in a given socio-economic context or country.”
Money has perfect liquidity and carries no interest
Money is what the Government says is money!
8. www.vestforsk.no
Is Bitcoin money?
It is liquid (although not everybody will accept it for payment)
No interest
So, yes, technically it is money
But... The Government has not said that it is money
9. www.vestforsk.no
Can Bitcoin fulfill the role of money?
1. Medium of exchange: Yes
This is Bitcoin’s most important mission
2. Store of value: Yes, but..
Unfortunate, but not critical
3. Unit of account: No, not for the time being
Not very important as long as Bitcoin is not a dominant currency
10. www.vestforsk.no
What is Bitcoin?
Fully digital currency without central control
No central bank
No central authority
Baset on peer-to-peer technology
Deterministic (the money supply is controlled)
Based on open source software and open standards
Bitcoin is one of many digital currencies
seems to be the best constructed and the most tested
by far the biggest
11. www.vestforsk.no
Bitcoin - history
Developed by Satoshi Nakamoto
A pseudonym – no one knows for shure who he/she/they are
Newsweek ”revealed” the identity of Satoshi Nakomoto as Dorian
Satoshi Nakamoto, a 64 year old US citizen of Japanese origin. He
has denied any involvement with Bitcoin
The fundamentals of Bitcoin was presented in the paper
” Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008
The Bitcoin system was launced on the Internet 3rd of Jan. 2009
The Bitcoin open source software is overseen by the Bitcoin
Foundation
1 Bitcoin = 100 000 000 (108) satoshi
Well suited for micro transactions!
12. www.vestforsk.no
Bitcoin - history
The first Bitcoin spending was for buying to pizzas for
10.000 BTC! (worth about NOK 36 million today)
Not much happened before spring 2011
$US/BTC = 1 start of year, rose to $35/BTC in May
13. www.vestforsk.no
Bitcoin - history
The first Bitcoin spending was for buying to pizzas for
10.000 BTC! (worth about NOK 36 million today)
Not much happened before spring 2011
$US/BTC = 1 start of year, rose to $35/BTC in May
17. www.vestforsk.no
Bitcoin and the financial crisis
Bitcoin must be understood in the light of the financial crisis:
[Bitcoin is] completely decentralized, with no central server or trusted
parties, because everything is based on crypto proof instead of trust. The
root problem with conventional currency is all the trust that’s required to
make it work. The central bank must be trusted not to debase the
currency, but the history of fiat currencies is full of breaches of that trust.
Banks must be trusted to hold our money and transfer it electronically, but
they lend it out in waves of credit bubbles with barely a fraction in
reserve. We have to trust them with our privacy, trust them not to let
identity thieves drain our accounts.
[Satoshi Nakamoto in a blog comment]
19. www.vestforsk.no
Bitcoin backed by very different interests
Libertarian, anarchist movement
See the Government as the main enemy
Wants a currency that is totally out of reach for Governments
Wants full anonymity
Silicon Valley investors (VCs)
See Bitcoin as the future of digital money
See an enormous innovation potential
Also see a much wider use of the Bitcoin technology
Wants the Government to regulate it somehow
20. www.vestforsk.no
What does the Goverment say?
The jury’s still out
Governments are very much in doubt what to do
Source: Coindesk
21. www.vestforsk.no
What does the financial sector say?
± Federal Reserves, US
Wait-and-see, but emphasizes the potential for innovation
÷ JP Morgan
”The Audacity of Bitcoin” (’audacious’ = frekk, dristig)
Bank of America
”Clear potential for growth”
PayPal (eBay)
Ready to integrate Bitcoin and other virtual currencies
What about Norwegian banks, and Norges Bank?
Silcence..., but the Tax authority of Norway (Skatteetaten)
declared Bitcoin a commodity last year and gains or losses due
to trading with Bitcoin is therefor subject to taxation or
deduction
22. www.vestforsk.no
What do the economists say?
Paul Krugman
“What’s really happening is a determined march to the days
when money meant stuff you could jingle in your purse. In
tropics and tundra alike, we are for some reason digging our
way back to the 17th century.”
Robert Schiller
“It is a bubble, there is no question about it. ... It's just an
amazing example of a bubble.”
23. www.vestforsk.no
What do the investors say?
Marc Andreessen (Netscape ++)
“The Internet of Money”
Warren Buffett
“Stay away from it. It’s a mirage basically, it’s a method of
transmitting money, it’s a very effective way of transmitting
money and you can do it anonymously and all that… a check is
a way of transmitting money, too. Are checks worth a whole
lot of money?”
Paul Singer (hedge fund manager)
“There is no more reason to believe that bitcoin, a computer-
generated, algorithm-driven currency of supposed limited
supply, will stand the test of time than that governments will
protect the value of government-created fiat money. One
difference: Bitcoin is newer and we always look at babies with
hope.”
28. www.vestforsk.no
A payment system ready for change
Present system Bitcoin
Transaction costs, Net trans. 2-3 % ≈0*
Money transfer up to 10 % ≈0
Transaction time Long (days) Short (sec.)
Security Not good Secure**
Open, verifiable transactions No Yes
* Zero or close to zero (but will rise a bit)
** Transactions are secure, storing Bitcoin is potentially risky
30. www.vestforsk.no
A disruptive technology
Characteristics of disruptive businesses (Clayton Christensen)
lower gross margins
smaller target markets
simpler products and services (not as attractive as the traditional)
this creates space in the bottom of the market
“I just replaced your entire industry with 100 lines of Python
code”
31. www.vestforsk.no
Bitcoin advantages
No central control
no inflation (amount of Bitcoin predefined)
no ”single point of failure”
transactions are irrevokable
Low transaction costs
fully digital and distributed P2P network
no trusted third party
Goldman Sachs estimates potential trans. costs savings > US$ 200 bill.
Free of use
no regulations of use
no one can stop/regulate transactions
Privacy
all transactions are pseudonyms, id of payer hidden
32. www.vestforsk.no
Bitcoin weaknesses
No central control
Governments highly suspicious to things they cannot regulate
irrevokable transactions: Cannot undo a transaction
Deterministic
predefined amount of bitcoins creates deflation
Bitcoin value has rosen from 0,3 cent/BTC to $600 /BTC
• stimulates speculation and hoarding
Privacy
pseudonymity attracts criminals
33. www.vestforsk.no
Technology
Bitcoin is based on Public Key Infrastructure
One bitcoin is defined as a chain of digital signatures
To give you a bitcoin I have to:
sign a ”hash” of a previous transaction plus your public key
only I can do that because of my private key
but everybody can validate the transaction because of my public key
secure because it relies on proven technology, and it is open
34. www.vestforsk.no
Technology
However, cryptography cannot prevent double-spending
The solution is to let every user have insight to all
transactions
open ledger containing all transactions, from day one
It takes about 10 minutes to verify a transaction
the difficulty, and thus the time, is regulated by the software
Conclusion: Bitcoin is a deeply elegant technology
35. www.vestforsk.no
How to get started with Bitcoin?
Download a Bitcoin client (desktop or mobile application)
you will also get the whole Bitcoin blockchain (the ledger)
By Bitcoin from an exchange (e.g. Norwegian Justcoin.com)
open an account and transfer money from your net bank account
The Bitcoin client works like ordinary net banking
by services and goods by copying the public address of the receiver
(or with a smart phone: scan a QR code) and pres ’Send’
38. www.vestforsk.no
Bitcoin regulations
Technologists: No way Bitcoin can be regulated
Governments: Oh yes, we have the power to regulate
The exchanges are the ”weak” points
Bitcoin transactions themselves cannot be stopped by Governments
Going in and out of the Bitcoin currency can be made very hard
Resembles the start of the Internet
Utopians declared cyberspace a place without interference from
Governments and businesses
We now know better..
39. www.vestforsk.no
Is Bitcoin going to be a flop?
The technology: Bitcoin with a capital ’B’
The currency: bitcoin with a lowercase ’b’
”It’s the technology, stupid!”
bitcoin might die, but Bitcoin will live on
40. www.vestforsk.no
The future of Bitcoin
Very interesting as an alternative currency for Net
transactions
payments for services and goods
transfer of money (Bitcoin already larger than Western Union)
alternative to PayPal o.l.
the first major company accepting Bitcoin will give it a tremendous
boost (Amazon, eBay..)
Fundamental break-through in technology & trust
opens up for a wide range of possible use
The Internet of Money!