This document provides an overview and introduction to Bitcoin. It discusses how Bitcoin is like email for money and cash transactions. Key points about Bitcoin include that it has no central ownership, is open source and secure, and uses a blockchain to serve as a distributed public ledger. The blockchain allows for the allocation of scarce digital resources. Bitcoin is needed because cash doesn't work online and current systems require too much trust. Adoption of Bitcoin will lead to innovation without permission and some countries being forced to embrace its use.

1. The Internet ofThe Internet of
MoneyMoney

2. What e-mail was
to post-cards,
Bitcoin is to
cash-money.

3. Bitcoin is Amazing

No Central ownership,
authority, or control

Open Source, peer-
reviewed

Secure! And we know
this.

Push, not “pull” based

4. Bitcoin Basics

There will only ever be 21 million coins

Divisible! One bitcoin can be divided into
100,000,000 Satoshis

Network maintenance is performed by
miners, who are rewarded in Bitcoin

Defines a 'blockchain' the world's
distributed asset/ownership ledger

5. The Blockchain is Revolutionary
A protocol (system) for allocating
scarce resources

Has no center, everyone
participates

Asserts 'truth' when everyone has
an incentive to lie

Manages Scarcity (Domain
names, SSL Certificates,
Bandwidth Credits, Property
Deeds, Identity)

6. Why do we need Bitcoin?

Cash doesn't work online.

Credit cards are inconvenient

Transaction fees are too high

Micropayments

Current systems require too much trust!

Not all good customers are creditworthy.

Underserved Banking clients

Globalization

7. Traditonal Checkouts vs Bitcoin
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5
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10 11
12
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8. Common Misconceptions
"This 'telephone' has too many shortcomings to be seriously
considered as a means of communication. The device is
inherently of no value to us."
- Western Union internal memo, 1876.

9. Where is this going?

Incumbents will compete, and fail.

Fast adoption in Remittance markets

Innovation without permission

Some countries will be forced to embrace a
mainstream Bitcoin economy

What Internet was to newspapers, Bitcoin is
to banks

Migrations away from Centralized
Databases

10. How to get started

Create a Coinbase account and buy
some bitcoins

Create a Blockchain.info wallet and install
the app on your phone

Accept Bitcoin from peers and clients.

Pro-actively offer to pay vendors in
Bitcoin in person and online!

11. Bitcoin is real, and here to stay!
“Bitcoin is a technological tour de force.” - Eric Schmidt (Google)
“The smartest guys in the room have all turned their attention to
Bitcoin.” - Michael Novogratz (Former Goldman Sachs Partner)
“We believe that Bitcoin represents something fundamental and
powerful. , an open and distributed Internet peer to peer protocol
for transferring purchasing power ”
- Fred Wilson, VC (AirBNB, Twitter, Foursquare, Etsy)
“Bitcoin offers a sweeping vista of opportunity to reimagine how
the financial system can and should work in the Internet era, and
a catalyst to reshape that system in ways that are more powerful
for individuals and businesses alike.”
- Marc Andreessen, VC (Groupon, Skype, Instagram, Zynga)
“Over the Next 5 Years I Think Digital Money Will Catch On”
- Bill Gates (Microsoft)

12. Come to a meetup. Get excited.
The Future of Money is coming.
bitcoinfl.org