Video presentation https://www.youtube.com/watch?v=om7PsL5c0q8 What is nature and the history of Bitcoin, altcoins, forks and how blockchain fits into the picture? This presentation is a good start for the beginners and, even more so, for the people familiar with the space since a lot of the concepts are misunderstood and often misguide people in their judgment. Agenda: - What is Bitcoin - Why Bitcoin was created - Immaculate conception of Bitcoin - Decentralization (Scalability vs. Trustlessness) - Bitcoin's proposition (open, borderless, neutral, censorship-resistant, public) - Cryptography and Blockchain - Proof-of-Work, Proof-of-Stake, and other consensus protocols - Altcoins and Forks (their role and impact)

1. FUNDAMENTALS:
BITCOIN,
ALTCOINS,
FORKS,
BLOCKCHAIN

2. Before Bitcoin
● 1982: E-Cash (DigiCash) by David Chaum. Used by Banks.
Public/Private keys. Focus on privacy
● 1991: Linked time-stamping Haber and Stornetta (Bitcoin
ledger)
● 1997: Hashcash by Adam Back. Anti-spam Proof of Work
● 1998: B-money by Wei Dai. Never launched.
● 1998, 2005: Bit Gold by Nick Szabo. (BFT, inflation)

3. Before Bitcoin
● 1996: E-gold (Backed by 3.5mt of gold). $2B annual
volume. Shut down in 2011
● 1998: PayPal (Swap between currencies)
● 2003: Linden Dollars (Second Life)
● 2004: WoW Gold (World of Warcraft)

4. Bitcoin
● 2008: White paper by Satoshi Nakamoto
● 2009: Genesis Block
● Byzantine General’s Problem
● Difficulty adjustment (Inflation)
● Blockchain
Bitcoin: A Peer-to-Peer Electronic Cash System. Removal
of trusted third parties.

5. Blockchain
Decentralized, distributed, digital ledger that is used to record
transactions across many computers so that any involved record cannot
be altered retroactively, without the alteration of all subsequent blocks.
● Database
● Signed transactions
● Mempool
● Miner finalizes a block
● Blocks connected by hash

6. Altcoins
Cryptocurrencies other than Bitcoin
● Economic model
● Distribution
● Consensus
● Programming
● Privacy
● Less secure in general
● Centralized

7. Forks
● Same block height
● Soft fork (Extra rules)
● Hard fork (No compatibility)
● Source code forks (Litecoin)
● Shared history forks (Bitcoin Cash)
Changes in the protocol of the bitcoin or as the situations that occur "when
two or more blocks have the same block height". New features, to reverse
hacking or bugs. Require consensus resolution or lead to a permanent split.

8. Why Bitcoin
● Hard to produce
● Cheap to run a node (small blocks)
● Low supply rate
● Global final settlement
● Cheap to verify (unforgeable)
● Winner takes all

9. 5 Pillars of Open Blockchain
● Open
● Borderless
● Censorship-resistant
● Neutral
● Public

10. Risks of Bitcoin
● Privacy and physical attacks
● Storage (can lose everything)
● Ideal for theft
● Wallets and malware
● Volatility triggers emotions
● Inheritance planning

11. Tips
● Backup your seed phrase
● Never Keep Coins on Exchanges
● Don’t buy altcoins
● Learn about security
● Denis Serebryakov
twitter.com/ThatCryptoTO