Bitcoin is a digital currency created by Satoshi Nakamoto and released as open-source software in 2009. It allows online payments to be sent directly from one party to another without an intermediary. There will ultimately only be 21 million bitcoins created. Bitcoins are stored in digital wallets consisting of a public and private key. They can be obtained through mining, exchanging other currencies, buying from individuals, or selling goods/services for bitcoins. While they offer advantages over traditional currencies, bitcoins also carry risks like volatility, hacking, and theft if not properly secured.

1. Bitcoin

2. What is Bitcoin?
Bitcoin is an online payment system invented by Satoshi
Nakamoto,who published his invention in 2008 and released it as
open-source software in 2009.
Bitcoin is a global Peer-to-Peer currency that is designed for the
Internet. It is modeled after gold and behaves like cash online, and
can be used by anyone.

3. What is Bitcoin?
 The only regulated factor built into the system is the number
of coins generated through mining.
 Currently, the network allows approximately 25 Bitcoins to
be mined every 10 minutes. This number halves
approximately every four years.
 The currency is divisible by 8 decimal places.
 (฿.00000001)
 It has no central authority, and is deflationary in nature.
 There will only be a total of 21 Million Bitcoins created, and
or mined between now and the year 2140.

4. What are they worth?
• Like fiat currencies, they are worth what we think they are.
• Bitcoin reached its all time high in April of 2013 when it
reached $266 per coin.
• Speculators anticipate it can go much higher.
• $14,947

5. How do you get Bitcoins?
• There are currently four methods of acquiring
Bitcoins.
1. Mining (Requires large investment)
2. Wiring in fiat currency to an BTC exchange.
3. Buying from an individual.
4. Selling items for BTC
Bitcoins are commonly abbreviated as BTC

6. Bitcoins Storage
Bitcoins are stored in what are called wallets.
A wallet is a randomly generated string of
numbers and consists of two parts:
the public key and private key.

7. Where do you store Bitcoins?
The second half of the Bitcoin wallet is what is known
as the private key.
The reason it is called a private key is that it is intended
that only you, the wallet owner, has access to it.
Disclaimer: If anyone gets ahold of your private key,
they will have access to all of your Bitcoins.
ALWAYS KEEP YOUR PRIVATE KEY PRIVATE!

8. What is a Bitcoin wallet?
There are three different types of Wallets.
Online Wallet Services:
All that is required on your behalf is to create and
remember a password.
The most popular services are Blockchain.info and
Coinbase.
Considered safe, but still susceptible to network
failures and hacking. You can take measures to
increase security.

9. What is a Bitcoin wallet?
Local Wallets or Offline Wallets:
A local wallet is an application that can be
downloaded to your personal computer.
Your private key(s) are stored locally on your hard
drive.
Considered safe, yet is important to make backups of
your private keys in case your hard drive fails.
Also carries a risk of hacking or physical theft.

10. What is a Bitcoin wallet?
Paper Wallets:
A paper wallet is a public/private key that is
generated offline and printed on a physical piece of
paper and then stored in a safe location.
Arguably the most secure way to store your BTC.
No record of the private key online or your hard drive.
Impossible to be hacked.
They are still susceptible to theft, fire and water
damage.

11. How do I send Bitcoins to someone?
• Sending or receiving Bitcoins is as simple as scanning
a QR code with your smartphone.
• Online services such as Blockchain.info and
Coinbase both use their own official apps.
• Both have security features that require you to use a
PIN to make transactions.
• Simply scan the receivers QR, enter the number of
coins to send, and you are done.
• The transaction appears within the network almost
instantly!

12. Example of a QR code.
QR Code Generated for the public key:

13. How can I keep my Bitcoins secure?
Here are a few tips to keep your Bitcoins safe:
1: Use strong passwords.
2: Use 2 Factor Authentication for online services.
3: Always encrypt your wallet files.
4: Keep your paper wallets in a safe and secure place.
5: ALWAYS run antivirus software .

14. Do I have to buy whole Bitcoins?
No. It is very easy to buy fractional amounts of
Bitcoins.
Coinbase, a service that lets you buy BTC with your
bank account, requires a minimum of .10 BTC to be
purchased.
Therefore, if the market value is $105, then the
minimum amount you can buy would be $10.50.
If you want to buy less, it is recommended that you
wire money into one of the many BTC exchanges.
The process of wiring money takes about 3-5 days.

15. What can I do with my Bitcoins?
You can spend them, just like cash.
You can save them.
You can day trade with them.
You can invest in various BTC based companies.

16. What are the risks involved?
Bitcoin carries many of the same risks that cash does.
Susceptible to physical theft.
Holes in online services could lead to hacking and
theft.
The market is incredibly volatile. Fluctuations of 10% or
more are fairly common.
Government intervention.
Misinformed slandering by the Media.