Bitcoin is a digital currency introduced in 2008 that can be exchanged for goods and services. It is decentralized and not regulated by any government. Bitcoins are stored in a digital wallet and transactions are verified and stored on the blockchain network. They can be obtained through bitcoin mining, selling goods/services for bitcoin, or buying bitcoin on exchanges. Advantages include low/no transaction fees and anonymity, while disadvantages include potential use for illegal activities and lack of protection from inflation. Mining a single bitcoin takes a complex computational process with time varying by computer power. A constant number are created every 10 minutes with the rate halving every 4 years until 2140. Currently over 25 bitcoins are created daily with total in circulation increasing. Min

1. BITCOINS
Boon or Bane??? Mohammadali Surti
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2. What is Bitcoin?

3. What is Bitcoin
Bitcoin is an digital currency introduced in 2008 by pseudonymous developer
"Satoshi Nakamoto". That can be exchanged for goods and services
Digital: Bitcoins cannot be printed or physically made.
They must be generated through computerized methods.
Decentralized: Bitcoins are not regulated by any
government or banking institution.
Revolutionary: Transactions allow for anonymity and are
almost instantaneous.
Global: Bitcoins are borderless currency and can be used
anywhere.

4. Bitcoin Wallet
Bitcoins are stored in your digital wallet. when you transfer Bitcoins an electronic signature
is added. After a few minutes the transaction is verified stored in the network

5. What are its characteristics?
• It's decentralized
• It's easy to set up
• It's anonymous
• It's completely transparent
• Transaction fees are miniscule
• It’s non-repudiable

6. How to get Bitcoins
Bitcoin can get from digital world only, and it’s have 3 ways for get it
You can create Bitcoins through Bitcoins Mining, a process that involves running software on a computer
to solve complex mathematical equations to generate a portion of the currency. if one of the equations
is solved, then the payout is a Bitcoin.
You can get Bitcoins from selling something in online
markets.
You can buy Bitcoins outright at various Bitcoin exchange
markets.
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8. Advantages
• The absence of transaction fees to credit card companies
• Anonymity guarantees that no one knows what users are buying
• Bitcoins are not subject to governmental manipulation( immune to inflation
and deflation as no one has control over the supply).
• Users don't need to rely on or trust anyone to store or transfer their
assets

9. Dis-Advantages
• Sociological threat which Bitcoin poses is the risk of an increased
crime rate and spread of illegal activity.
• Bitcoin could readily serve as an easily accessible global network for
drug dealing, gambling, bribery, insider trading, and money
laundering.
• The second threat which Bitcoin poses is a drastic decrease in social
development investment as they are immune to taxes and nearly all
social services and benefits provided for by governments could
potentially be eradicated as the government will run out of cash.

10. Continued….
• The third threat which Bitcoin poses is that it could directly lead to a
serious destabilization of national economies.

11. How long does it take to mine a single
Bitcoin
Mining Bitcoins take much time because it's a complex process, and how much time
it takes depends on the specifications of yours computer's processing units

12. Bitcoin Supply
Currently 25 bitcoins are created every 10 minutes, This rate halves every four years
until all coins are created in the year 2140

13. Total Bitcoins in circulation
No. of Bitcoins till date’’

14. Bitcoin consumption power
Bit Miners are used consumption power around 150,000 US$ per day to create
bitcoins.

15. Conclusion
Someone’s pro is someone’s con!

16. Thank You