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Cryptocurrencies
A Serious Introduction
Drake Emko
Revionics
Cryptocurrency: What?
It is a Digital Currency that uses cryptology for security
Decentralized Not issued by any central authority
Trust based on peer-to-peer consensus
Anonymous (More or less) Transactions are not tied to your identity
Wow?
Bitcoin is the first and most popular
cryptocurrency, created in 2009
Why? For Businesses
No (or low) transaction fees
compared to credit cards!
coinpayments.net
moolah.io
Built in customer base of
cryptocurrency enthusiasts
Source: coindesk.com
Why? For Users
Distrust of government surveillance,
currency manipulation
FUN
Community
Mining
Currency trading
Maybe get rich!
Cryptocurrency: Which?
Bitcoin Biggest
Most valuable
Litecoin Second biggest (arguably)
Easier to Mine
Dogecoin Silliest
Best community
All of the Rest!
source:
altcoinherald.com
Not All Coins Are Equal
Source:
coingecko.com
Developments - Mining
Proof of Work (PoW) algorithms
Old School - Only big mining farms using ASICs can profit
SHA-256 - Bitcoin
Next Generation - Make algorithm more memory intensive, give GPU miners a chance!
Scrypt - Litecoin, Dogecoin
Brave New World - Defeat the first generation of ASICs!
Scrypt-N, X11, X13 - Vertcoin, Darkcoin, CloakCoin
such environmental!
More Developments
Proof of Stake (PoS) - Earn coins by holding them (like interest)
Pandacoin (PND), Reddcoin, Bottlecaps
Improved anonymity
Darkcoin, Monero, Anoncoin
Outside the Box!
Colored Coins - Create your own currency on the Bitcoin network
Mastercoin, Bitshares, Counterparty - Financial derivatives, savings wallets,
decentralized exchange
Ethereum - Framework and programming language for creating cryptocurrencies
such advanced!
How to Mine Coins
CPU Mining
Download: sourceforge.net/projects/cpuminer
How to Mine Coins
GPU Mining
such efficient!
Download:
Mac Miner
cgminer & more
How to Mine Coins
ASIC Mining
Fastest
Expensive
such such such fast
much warn:
most hardware companies = SCAM
How to Mine Coins
Entry Level ASICs: try Ebay
less bankrupt!
Buying and Selling
Cryptocurrency
Exchanges
Mintpal
Cryptsy
Bittrex & more
How To Use Coins
Tipping on social media
Donate to good causes
Buy stuff!
New Frontiers
Such many apps to develop!
Everything is new...

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Cryptocurrencies - A Serious Introduction

  • 2. Cryptocurrency: What? It is a Digital Currency that uses cryptology for security Decentralized Not issued by any central authority Trust based on peer-to-peer consensus Anonymous (More or less) Transactions are not tied to your identity Wow? Bitcoin is the first and most popular cryptocurrency, created in 2009
  • 3. Why? For Businesses No (or low) transaction fees compared to credit cards! coinpayments.net moolah.io Built in customer base of cryptocurrency enthusiasts Source: coindesk.com
  • 4. Why? For Users Distrust of government surveillance, currency manipulation FUN Community Mining Currency trading Maybe get rich!
  • 5. Cryptocurrency: Which? Bitcoin Biggest Most valuable Litecoin Second biggest (arguably) Easier to Mine Dogecoin Silliest Best community
  • 6. All of the Rest! source: altcoinherald.com
  • 7. Not All Coins Are Equal Source: coingecko.com
  • 8. Developments - Mining Proof of Work (PoW) algorithms Old School - Only big mining farms using ASICs can profit SHA-256 - Bitcoin Next Generation - Make algorithm more memory intensive, give GPU miners a chance! Scrypt - Litecoin, Dogecoin Brave New World - Defeat the first generation of ASICs! Scrypt-N, X11, X13 - Vertcoin, Darkcoin, CloakCoin such environmental!
  • 9. More Developments Proof of Stake (PoS) - Earn coins by holding them (like interest) Pandacoin (PND), Reddcoin, Bottlecaps Improved anonymity Darkcoin, Monero, Anoncoin Outside the Box! Colored Coins - Create your own currency on the Bitcoin network Mastercoin, Bitshares, Counterparty - Financial derivatives, savings wallets, decentralized exchange Ethereum - Framework and programming language for creating cryptocurrencies such advanced!
  • 10. How to Mine Coins CPU Mining Download: sourceforge.net/projects/cpuminer
  • 11. How to Mine Coins GPU Mining such efficient! Download: Mac Miner cgminer & more
  • 12. How to Mine Coins ASIC Mining Fastest Expensive such such such fast much warn: most hardware companies = SCAM
  • 13. How to Mine Coins Entry Level ASICs: try Ebay less bankrupt!
  • 15. How To Use Coins Tipping on social media Donate to good causes Buy stuff!
  • 16. New Frontiers Such many apps to develop! Everything is new...