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Group 5
Jaswanth
Evangeline
Maharaj
0
WHAT IS CRYPTO CURRENCY?
• A medium of exchange. Ex: USD, Rupee, etc
• Designed for the purpose of exchanging digital information through a
process (by principles of cryptography)
• Cryptography is used to secure the transactions and to control the creation
of new coins
1
DIFFERENT TYPES OF CRYPTO-CURRENCY
2
3
WHAT IS BITCOIN?
• Bitcoin is a currency created in 2009
• By an unknown person using the alias Satoshi Nakamoto
• Transactions are made with no middle men
• No transaction fees and no identity
4
WHAT IS BITCOIN MINING?
• The process by which transactions are verified and added to the public ledger,
known as the block chain
• The means through which new bitcoin are released
• The mining process involves compiling recent transactions into blocks and
trying to solve a computationally difficult puzzle.
5
MINING
6
FEATURES OF BITCOIN
• All-electronic & Fast
transactions
• Low-cost transactions
• Divisible down to 0.00000001
BTC
• No third-party trust required
• Uncontrollable (Decentralized)
• No double-spending
• Some anonymity
(pseudonymity)
• Inflation resistant
• Deflationary (Maximum of 21M
issued)
• International
• Widely accepted as a currency
• Central governments can’t take it
away
• You can create your own money
7
DISADVANTAGES
• Degree of acceptance
• Volatility
• Ongoing development
• Possible Government Interference
• Lack of resource
• Money Laundering/Black
Market
8
ALTCOINS
• Litecoin
• Feathercoin
• Namecoin
• PPCoin/Peercoin
• Zerocoins
• Mastercoin
• Quark
• Devcoin
• Dogecoin
• Terracoin
• Bytecoin
9
DOOM AND GLOOM
• Some people say Bitcoin is not a currency and is doomed to fail
• Almost everyone predicting the downfall of Bitcoin doesn’t
really understand bitcoin
• The arguments generally fall into the following categories
10
11
DOOM
• Some people say Bitcoin is not a currency and is doomed to fail
• Almost everyone predicting the downfall of Bitcoin may not
really understand bitcoin
GLOOM OR
CONTEMPLATING CHANGE
• Bitcoin legal in India (2013)
• RBI to launch “LAKSHMI”
• Discomfort with foreign bitcoins
12
13
THANK YOU

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Crypto Currency - Lakshmi "BOOM" or "DOOM"

  • 2. WHAT IS CRYPTO CURRENCY? • A medium of exchange. Ex: USD, Rupee, etc • Designed for the purpose of exchanging digital information through a process (by principles of cryptography) • Cryptography is used to secure the transactions and to control the creation of new coins 1
  • 3. DIFFERENT TYPES OF CRYPTO-CURRENCY 2
  • 4. 3
  • 5. WHAT IS BITCOIN? • Bitcoin is a currency created in 2009 • By an unknown person using the alias Satoshi Nakamoto • Transactions are made with no middle men • No transaction fees and no identity 4
  • 6. WHAT IS BITCOIN MINING? • The process by which transactions are verified and added to the public ledger, known as the block chain • The means through which new bitcoin are released • The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. 5
  • 8. FEATURES OF BITCOIN • All-electronic & Fast transactions • Low-cost transactions • Divisible down to 0.00000001 BTC • No third-party trust required • Uncontrollable (Decentralized) • No double-spending • Some anonymity (pseudonymity) • Inflation resistant • Deflationary (Maximum of 21M issued) • International • Widely accepted as a currency • Central governments can’t take it away • You can create your own money 7
  • 9. DISADVANTAGES • Degree of acceptance • Volatility • Ongoing development • Possible Government Interference • Lack of resource • Money Laundering/Black Market 8
  • 10. ALTCOINS • Litecoin • Feathercoin • Namecoin • PPCoin/Peercoin • Zerocoins • Mastercoin • Quark • Devcoin • Dogecoin • Terracoin • Bytecoin 9
  • 11. DOOM AND GLOOM • Some people say Bitcoin is not a currency and is doomed to fail • Almost everyone predicting the downfall of Bitcoin doesn’t really understand bitcoin • The arguments generally fall into the following categories 10
  • 12. 11 DOOM • Some people say Bitcoin is not a currency and is doomed to fail • Almost everyone predicting the downfall of Bitcoin may not really understand bitcoin GLOOM OR
  • 13. CONTEMPLATING CHANGE • Bitcoin legal in India (2013) • RBI to launch “LAKSHMI” • Discomfort with foreign bitcoins 12