General information about Bitcoin and cryptocoins

1. BITCOIN
THE VIRTUAL COIN

2. CONTENT ...
WHAT IS THE BITCOIN AND HOW DO BITCOIN TRANSACTIONS WORK?
MOST COMMON APPLICATIONS
HOW TO GET BITCOINS?
HOW DOES BITCOIN WORK?
BITCOIN IN MEXICO
THE ADVANTAGES AND THE DISADVANTAGES

3. WHAT IS THE BITCOIN AND HOW DO BITCOIN
TRANSACTIONS WORK?
What would you think about unconventional and
non-printed money that no one can control, a
different currency that you cannot see?
Well I would said magic to financial world, and it's
called Bitcoin.Bitcoin is the first decentralized digital
currency; it’s a new payment system and a
completely digital money that you can send through
Internet. It was created in 2009 by an unknown
person using the alias Satoshi Nakamoto.

4. In contrast to common transactions, bitcoin doesn't need banks! Which means there
aren’t transaction fees (or they’re really cheap) and nobody needs to give a real
name.The cryptography-based system processes, verifies and records electronic
payment transactions without relying on trusted third parties such as financial
institutions.
But, How do Bitcoin Transactions work? Acording to coindesk, bitcoin transactions are
sent from and to electronic “bitcoin wallets” and are digitally signed by security. A
curious thing about this currency is that you cannot have it in your hands like a physical
object or even a digital file. Instead, you can have only records of transactions that you
can check out in a public ledger called “blockchain”.
Transactions didn’t use to be so fast! The longer time of transaction registrated,
acording to the blockchain, is 10 minutes.

5. MOST COMMON APPLICATIONS
To operate with Bitcoin you only have to download any of the available applications,
there are multiple alternatives for any operating system like MultiBit or Bitcoin Wallet.

6. HOW TO GET BITCOINS?
There are many ways to get or buy Bitcoins. One is accessing of
the Bitcoin markets such as MtGox or Bitcoin.com, which allow you
to exchange conventional money, euros or dollars, for Bitcoin.
Another way is the exchange of goods with other users, that is, the
purchase / sale paying with Bitcoins.

7. HOW DOES BITCOIN WORK?
You can create your Bitcoins wallet which consists
of a private key. Thanks to them, Bitcoin can not
be falsified and it ensure that user-to-user
transactions are performed safely, because is
protected by digital signatures corresponding to
the shipping addresses.
It works as a desktop that provides a personal
Bitcoin purse and allows the user to send and
receive bitcoins with it.

8. BITCOIN IN MEXICO
In Mexico exist many plataforms where you can get bitcoins;
one of them is the app volabit. With this app, available in
Android, you can get bitconis doing a deposit in 7-eleven,
Farmacias del Ahorro, and Extra stores or by a bank
transfer.
This Mexican app allow change your bitcoins for cellphone
minutes and pay many services like the water, light, and
phone and invite to buy with you bitcoins in stores like
pedido.com (electronics store) bolettos.com and authorized
distributors Telcel to mention someones.

9. Exist a lot of stores that allow bitcoins to make purchases. Another
plataform is Bitso founded in 2014 this app has the security like a
first priority for the transfers between mexicans.
After create a bitso account you only have to deposit in mexican
pesos through Oxxo , 7 Eleven or banks to be able to change them
through the app.
Where we can to spend them?
Exist a lot of enterprises that accept cryptocoins for we can make
purchases. One of them is Microsoft where you can buy
videogames and another apps using the bitcoin.

10. This map show the places in Mexico where there are more establishments for can make purchases
with bitcoins. Mexico City, Guadalajara and Playa del Carmen are some places with more than 30
establishments but in Internet there are more than 150,000 portals where you can buy with bitcoins.

11. THE ADVANTAGES
- Anonymous and Private because a person can only know the addresses of
bitcoins on which the payment has been sent and received.
- Also are very fast if compared to banking channels. A bitcoin transaction is as
fast an e-mail and can be processed in 10 minutes.
- Are secure, irreversible, and doesn’t contain any customers’ sensitive or personal
information.This protects merchants from losses caused by fraud .
- Payment Freedom; the Paying through bitcoins provide us utmost freedom.
Bitcoins can be sent to any person in any part of the world and don’t exist
intermediaries in between, like banks, payment limit or borders.

12. - No Taxes; don’t exist taxes There isn’t a way for a third party to intercept
transactions of Bitcoins, and therefore there isn’t viable way to implement a
Bitcoin taxation system.
- Bitcoins Cannot be Stolen because Bitcoins’ ownership address can only be
changed by the owner. No one can steal Bitcoins unless they have physical
access to a user’s computer, and they send the bitcoins to their account.

13. AND THE DISADVANTAGES
- Volatility: Bitcoin prices are very volatile and increases/decreases at a very high
pace.
- Bitcoins Are Not Widely Accepted: Bitcoins are still only accepted by a very
small group of online merchants.
- Wallets Can Be Lost If a hard drive crashes, or a virus corrupts data , and if the
wallet file is corrupted
- No Buyer Protection: When goods are bought using Bitcoins, and the seller
doesn’t send the promised goods, nothing can be done to reverse the
transaction.

14. This graph shows the value of the bitcoin since its creation until the present. As you
can see its cost untill 2010 was 0 USD, and nowadays costs 5711 USD (being this the
highest price registraded value)

15. This graph show the increasement of number of bitcoins issued since
it’s creation until the present. More than 16 billion of bitcoins has been
bought since 2009.

16. TEAM.
PADILLA GARCIA JESSICA PAOLA
PAJARITO GUZMAN, ISAIAS ALEJANDRO
ROMERO ESPINOZA ALMA GUADALUPE
VILLARRUEL BRISEÑO MINERVA

17. RESOUCERS
BLOCKCHAIN LUXEMBOURG. (2017). Gráficos de Bitcoin . 17/10/17, de Blockchain Sitio web:
https://blockchain.info/es/charts
Omar Ortega. (2017). ¿Qué son las bitcoins y cómo usarlas?. 17/10/17, de El Financiero Sitio
web: http://www.elfinanciero.com.mx/tech/que-son-las-bitcoins-y-como-usarlas.html
Coindesk. (2017). What is Bitcoin?. 17/10/17, de Coindesk Sitio web:
https://www.coindesk.com/information/what-is-bitcoin/
MIT. (2017). Bitcoin. 17/10/17, de MIT Sitio web: https://bitcoin.org/en/faq#how-does-one-
acquire-bitcoinshttp://cs.stanford.edu/people/eroberts/cs201/projects/2010-
11/DigitalCurrencies/advantages/index.html
MIT. (2017). ¿Cómo funciona Bitcoin?. 17/10/17, de MIT Sitio web: https://bitcoin.org/es/como-
funciona