Bitcoin, invented in 2008 by an unknown individual or group named Satoshi Nakamoto, operates as a digital currency secured by cryptography and utilizes blockchain technology for peer-to-peer transactions without intermediaries. In India, a ban on cryptocurrencies was lifted in January 2020, allowing participation in the blockchain revolution. The future of bitcoin looks promising as it may replace conventional currencies, with various other cryptocurrencies like Ripple and Ethereum emerging in the market.

1. CRYPTOCURRENCIES
AND
BITCOIN
BY ADITYA ASHUTOSH

2. HISTORY OF BITCOIN
• Bitcoin was invented in 2008 by an unknown
person or a group of people with name Satoshi
Nakamoto and it came to use in 2009 when its
source code was released as open source
software.
• In April 2018, RBI imposed a ban on all
cryptocurrencies and barred all banks and
financial institutions to trade in virtual currencies.
• The ban was lifted in Jan 2020 and now India can
participate in the Blockchain revolution.

3. WHAT IS CRYPTOCURRENCY?
• Cryptocurrency is nothing else but
digital currency which has emerged as
an alternative to paper currency.
• This type of currency transaction is
secured end-to-end by cryptographic
techniques.
• Bitcoin is one type of cryptocurrency.

4. HOW IS IT DIFFERENT?
What makes it different from
conventional currency system is the
working structure.
Bitcoin is a peer to peer transaction
system means there is no inteermediary
involved

5. WORKING TECHNOLOGY
• The working technology behind Bitcoin
is Blockchain.
• Blockchain is one of the most hottest
and cutting edge technology currently.
• It won’t be over hyped to say that
Blockchain is going to be the next big
thing in industry.

6. WHO OWNS BITCOIN?
Bitcoin, similar to the internet, is not
owned by anybody.
Since it is based on Blockchain, all
transactions are stored as blocks on
distributed ledger with anonymity so that
transparency and privacy are ensured
simultaneously.

7. HOW BITCOIN GETS VALUE?
Anything has value only when it is scarce.
Since Bitcoin is digital currency, one can
think of it to be unlimited.
But this is not so. Bitcoins need to be
mined by special computers or individuals
in the system called miners.
It is assumed that last Bitcoin will be
mined in 2140.

8. FUTURE OF BITCOIN
• Bitcoin is not the only form of
Cryptocurrency.
• Ripple, Ethereum, Litecoin, Stellar Lumen
are few other forms of cryptocurrency.
• In nearby future, Bitcoin is expected to
replace all kinds of other currencies.
• All nations around the globe are working
towards bringing a Blockchain revolution
which is triggering a more advanced
research process.

9. THANK YOU