This seminar discus about BITCOIN TECHNOLOGY. its EVOlUTION,TERMS USED IN BITCOIN,MINING,AQUIRING, BITCOIN, HOW TO STORE BITCOINS, TYPES OF WALLET, HOW BITCOIN ACTUALLY WORKS, TRANSACTION .
All you ever needed to know on bitcoin and blockchainMarco Hauff
Basic introduction into the world of Bitcoin and Blockchain. Handy for everyone that needs to attend a birthday party and wants to join a conversation on this topic. A must for the financial / technology professional.
Most people want to jump into & know how to do ICO or participate in it. They trade buzzwords, follow the herd on blockchain & crypto token without knowing where do they really apply. The objective of this is to introduce important concepts that need to be understood before getting into ICO and crypto valuation. All these concepts are introduced gradually through a metaphor then simple mental models followed by a first principle thinking level. This is most useful for entrepreneurs and investors that ought to be thinking about blockchain, ICO & crypto tokens through first principles
An overview of Cryptocurrencies presented at UM titled Seminar Fiqh Teknologi Blockchain, Cryptocurrency, Bitcoin & at Akademi Pengajian Islam Hosted by K-FIQH and Elzar Shariah Solutions & Advisory. #blockchain #fintech
This seminar discus about BITCOIN TECHNOLOGY. its EVOlUTION,TERMS USED IN BITCOIN,MINING,AQUIRING, BITCOIN, HOW TO STORE BITCOINS, TYPES OF WALLET, HOW BITCOIN ACTUALLY WORKS, TRANSACTION .
All you ever needed to know on bitcoin and blockchainMarco Hauff
Basic introduction into the world of Bitcoin and Blockchain. Handy for everyone that needs to attend a birthday party and wants to join a conversation on this topic. A must for the financial / technology professional.
Most people want to jump into & know how to do ICO or participate in it. They trade buzzwords, follow the herd on blockchain & crypto token without knowing where do they really apply. The objective of this is to introduce important concepts that need to be understood before getting into ICO and crypto valuation. All these concepts are introduced gradually through a metaphor then simple mental models followed by a first principle thinking level. This is most useful for entrepreneurs and investors that ought to be thinking about blockchain, ICO & crypto tokens through first principles
An overview of Cryptocurrencies presented at UM titled Seminar Fiqh Teknologi Blockchain, Cryptocurrency, Bitcoin & at Akademi Pengajian Islam Hosted by K-FIQH and Elzar Shariah Solutions & Advisory. #blockchain #fintech
Why banks invest in blockchain (and not in bitcoin)Koen Vingerhoets
My take on why, generally speaking, banks invest in blockchain & distributed ledger technologi and not in bitcoin. Yes, the ECB doesn't like it. But there are some myths to debunk to make the ECB demand a sound case.
Most slides are pictures, feel free to contact me.
Content that helps to understand bitcoin and blockchain. Starts with currency basics, to clear the fact that bitcoin is not doing anything tangentially wrong. Followed by that bitcoin is covered and blockchain in detail.
Crypto Think Tank Presentation on Alternative Cryptocurrency Feb 16, 2014 at ...cryptothinktank
This presentation discusses the landscape of alternative cryptocurrency. It was given by Eric and Xin from Crypto Think Tank at the Vancouver Coinfest 2014, a multi-day weekend festival that gathered cryptocurrency enthusiast to share and learn more about this growing community.
Please visit: www.cryptothinktank.com to learn more about us.
Discussed about the Blockchain and how it works
Also the advantages of Blockchain over centralized system and some drawbacks are also mentioned.
Discussion on bitcoin and Cryptocurrency
Creating our own cryptocurrency for startups.
Snapshots are attached.
Bitcoin is Still Technology - Presented at Bitcoin World Conference KL - 2014Mark Smalley
Forgot to upload the presentation I gave at the World Bitcoin Conference in KL - it's a real basic introduction to Bitcoin and crypto-currencies from a technological point of view. A lot of images as they give me room to talk :-)
Overview of bitcoin regulation challenges and opportunities.
The research focused on ineffective controls used by western regulators to control Bitcoin and cryptocurrency .
Why banks invest in blockchain (and not in bitcoin)Koen Vingerhoets
My take on why, generally speaking, banks invest in blockchain & distributed ledger technologi and not in bitcoin. Yes, the ECB doesn't like it. But there are some myths to debunk to make the ECB demand a sound case.
Most slides are pictures, feel free to contact me.
Content that helps to understand bitcoin and blockchain. Starts with currency basics, to clear the fact that bitcoin is not doing anything tangentially wrong. Followed by that bitcoin is covered and blockchain in detail.
Crypto Think Tank Presentation on Alternative Cryptocurrency Feb 16, 2014 at ...cryptothinktank
This presentation discusses the landscape of alternative cryptocurrency. It was given by Eric and Xin from Crypto Think Tank at the Vancouver Coinfest 2014, a multi-day weekend festival that gathered cryptocurrency enthusiast to share and learn more about this growing community.
Please visit: www.cryptothinktank.com to learn more about us.
Discussed about the Blockchain and how it works
Also the advantages of Blockchain over centralized system and some drawbacks are also mentioned.
Discussion on bitcoin and Cryptocurrency
Creating our own cryptocurrency for startups.
Snapshots are attached.
Bitcoin is Still Technology - Presented at Bitcoin World Conference KL - 2014Mark Smalley
Forgot to upload the presentation I gave at the World Bitcoin Conference in KL - it's a real basic introduction to Bitcoin and crypto-currencies from a technological point of view. A lot of images as they give me room to talk :-)
Overview of bitcoin regulation challenges and opportunities.
The research focused on ineffective controls used by western regulators to control Bitcoin and cryptocurrency .
Bitcoin - First Blockchain Implementation -- What is it? How can it be used? ...Prashant Shahi
This slide briefly explains what Bitcoin is, how can it be used, how it works and their limitations. This slide answers Often Asked Questions about Bitcoin !!
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 9 million members worldwide. To claim your Pi, follow this link https://minepi.com/krishvikram and use my username (krishvikram) as your invitation code.
Step 1. Install the Pi app with above link
Step 2 verify the profile
Step 3 tap on earnings and share your link and increase your earnings
Step 4 verification type the referral code which is mandatory.
Referral code is : krishvikram
“As a layperson -let us understand- cryptocurrency and how it works.pdfRAVI TIKU
All of us listen so much about the cryptocurrency and its usage being done for the various transactions, but we still don’t know the basics of this currency and how it is transacted, and under which regulatory board or exchange their indices are maintained. I thought let us discuss the simple basics of the same and try to understand what exactly it is and how it affects the transactional market internationally.
If you are looking to invest in cryptocurrency, you may be wondering which is better: Bitcoin or Blockchain? Both of these technologies have their pros and cons, so it is important to consider both when making your decision. In this blog post,
Naos Blockchain presents this report with the following objectives:
1. Describe the evolution of the crypto market and give a
comprehensive summary of the current market situation.
2. Provide detailed information regarding major factors
influencing the market. Drivers, restraints, opportunities,
and challenges.
3. Present the outlook as perceived by the NAOS Team.
This report was created at the beginning of 2019, therefore all data up to February 2019 is historical data, with the base
year for calculations being 2018.
Here is the Bitcoin Report. The report involves every aspect of Bitcoin that one need to understand Bitcoin from scratch. Following are the contents that are being covered by the report:-
· Abstract
· Introduction
· History and its Creation
· Working of Bitcoin
· Advantages
· Disadvantages
· Challenges to Bitcoin
· Scope of Bitcoin
· Conclusion
Hope this will help
This guide is all about explaining Bitcoin and cryptocurrencies in simple terms. Here's what it covers:
Bitcoin is a type of digital money, and cryptocurrency is a digital currency. A few years ago, people didn't know much about these terms, and some thought they were just a passing trend.
Bitcoin is a cryptocurrency. It is a decentralized payment system and kept alive due to the technology called Blockchain. These are peer-to-peer transactions. These transactions are verified by using a cryptography technology bank. Chain technology keeps the record of the distributed ledger. Bitcoins can be earned as a reward through mining. This currency can be convertible into other currencies, products, and services. Bitcoin has been emerging as a famous digital currency and popularity all over for quick transition. Moreover, bitcoin will be an economic asset because it has profitable results. The purpose of this research study is to explain the complete working of bitcoins technology, applications, and research challenges to be addressed, and the current future international market scope of Bitcoin technology.
Bitcoin was proposed by Satoshi Nakamoto on 31st Oct 2008. It is the pseudonym used by an individual or a collective group of people. In January 2009, the First open-source Bitcoin client was released and the bitcoin network came into existence. Satoshi Nakamoto is an inventor of bitcoin, and blockchain technology. All through it’s a false name. This is how he introduced himself to the internet. Unfortunately, many people think that because Satoshi Nakamoto has invented Bitcoin and the Blockchain technology, he is the owner of those too. The reality is that Satoshi Nakamoto has neither control over the Blockchain nor bitcoin. Therefore, it really doesn’t matter who Satoshi Nakamoto is.
Blockchain is a technology, and its first function was on the platform named bitcoin. Bitcoin is Blockchain. However, Bitcoin itself is only a cryptocurrency that is capable of replacing fiduciary currency. Nevertheless, not that many people will like the idea at first.
Bitcoin is a digital, decentralized, partially anonymous currency, not backed by any government or other legal entity, and not redeemable for gold or other commodity. It relies on peer-to-peer networking and cryptography to maintain its integrity. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.
MindWorks Ventures presents 'Blockchain Report 2017' which includes an introduction to blockchain, industry trends, relevant blockchain startups, and potential risks and regulations.
What Are The Key Components Of Bitcoin.pdfMavie Crypto
Bitcoin is a revolutionary way to transfer money that has taken the world by storm. But what are the key components that make it so powerful? In this blog post, we’ll explore the three key components
What Are The Key Components Of Bitcoin.pdfMavie Crypto
Bitcoin is a revolutionary way to transfer money that has taken the world by storm. But what are the key components that make it so powerful? In this blog post, we’ll explore the three key components
Similar to Introduction to blockchain_hcmc_20170820 (20)
HATCH! FAIR the Fifth was organized in three big cities in Vietnam: Hanoi (Sept 23), Danang (Oct 07), & Ho Chi Minh City (Oct 27-28). This event included 03 Elite Conferences in three cities and 01 Flagship Exhibition in HCMC.
This was the biggest annual startup conference and exhibition in Vietnam, which gathered 100+ exhibiting companies, 150+ startup applications, and 4,000+ participants and visitors in total.
Hackathon for Social Good - Information packageHATCH! PROGRAM
Hackathon for Social Good is a 48 hour coding competition to seeking for application and innovation that address social challenges.
2 days of Hackathon: October 24, 25, 2015
Media Clipping Book on HATCH! FAIR 2015 / IPP Midterm DemoHATCH! PROGRAM
HATCH! FAIR 2015 / IPP Midterm Demo was organized on October 31 and November 1, by HATCH! PROGRAM and IPP (an Finnish Government ODA Project).
The two-day event attracted 40+ startups to showcase, 150+ startups influencers and guest speakers and 1,600+ visits.
HATCH! FAIR 2015 / IPP Midterm Demo REPORTHATCH! PROGRAM
HATCH! FAIR 2015 / IPP Midterm Demo was organized on October 31 and November 1, 2015 bu HATCH! PROGRAM and IPP (a Finnish government ODA project).
This was the biggest annual startup conference and exhibition in Vietnam, which gathered 40+ startups, 150+ startup influencers and 1,600+ visits in two days.
HATCH! COACH 03 là khóa huấn luyện phát triển sản phẩm diễn ra từ ngày 30/05 - 20/07
Bản báo cáo ghi lại chi tiết tiến trình và kết quả đạt được của các đội tham dự khóa học
Khóa học đã kết thúc với quỹ ươm mầm được Tigers@Mekong trao cho OIC Book
Website: hatch.vn/coach
HATCH! COACH 04 đã mở đơn đăng kí, khóa học sẽ diễn ra từ ngày 05/09/2015 tới 26/10/2015
HATCH! COACH 03 - Huấn luyện Phát triển sản phẩmHATCH! PROGRAM
HATCH! COACH 03 - khóa huấn luyện phát triến sản phẩm tinh gọn, áp dụng vào tăng tốc các dự án đang thực hiện theo định hướng phù hợp.
Không đi vào vấn đề quản lý và kinh doanh như các khóa học khởi nghiệp khác, HATCH! COACH tập trung cải thiện yếu tố quan trọng nhất với bất kì khởi nghiệp nào cũng cần quan tâm: sản phẩm.
INNOVATION NEST kết nối các đơn vị NGO và các nhóm CNTT, nhóm khởi nghiệp để cung cấp dịch vụ, hỗ trợ lẫn nhau, và tạo ra các dự án sáng tạo xã hội mới.
HATCH! A YEAR 2015 (Report for 2014 and Plan for 2015)HATCH! PROGRAM
A short report of what has been done in 2014 by HATCH!:
- brought in World's biggest startup competition: SeedStars World
- sent Triip.me to Geneva, Switzerland
- organized World Bank's global hackathon to address challenges around natural disasters in Vietnam
- initiated INNOVATION NEST (co-working space and collaboration center) for social innovation in Vietnam
- introduced Angel Investor Network at HATCH! FAIR 2014
and its activity plan for 2015.
[Report] Code for Resilience: Code for VietnamHATCH! PROGRAM
Code for Resilience: Code for Vietnam được tổ chức nhằm tập hợp những nhà lập trình và những chuyên gia trong lĩnh vực ứng phó với thảm hoạ thiên nhiên, chung tay ứng dụng công nghệ cao vào dự báo, phòng tránh và giảm thiểu thiệt hại do thảm hoạ thiên nhiên gây ra tại Việt Nam.
--
Code for Resilience hay Chương trình lập trình giảm thiểu và phòng tránh thảm hoạ, là chuỗi chương trình hackathon toàn cầu của Quỹ toàn cầu về giảm nhẹ và phục hồi thiên tai (GFDRR) thuộc Ngân hàng Thế giới và tổ chức Code for Japan.
Năm 2014, Code for Resilience được tổ chức tại 10 thành phố đã và đang trực tiếp chịu những hậu quả nghiêm trọng của thảm hoạ thiên nhiên, bao gồm Hà Nội, Haiti, Nagoya, Manila, Bangalore, Ishinomaki, Dhaka, …
Đây là cuộc thi lập trình ứng dụng trên điện thoại di động, tập hợp những lập trình viên, những chuyên gia công nghệ và những chuyên gia về ứng phó thảm hoạ thiên nhiên, để phát triển những sáng kiến công nghệ trong cả phần cứng và phần mềm giải quyết những vấn đề và thách thức liên quan đến thảm hoạ thiên nhiên.
Sự kiện cho thấy tầm quan trọng của việc cùng chung sức ứng dụng công nghệ cao vào giải quyết những thách thức về giảm thiểu và quản lý thảm hoạ tại các nước thường xuyên chịu ảnh hưởng của thảm hoạ thiên nhiên nói riêng và toàn thế giới nói chung.
HATCH! PROGRAM - HCMC chapter are looking for people who want to be a part of a dedcated network that supports the sustainable development of entrepreneurship in Vietnam.
[STARTUP GUIDE] How to get initial funding?HATCH! PROGRAM
A comprehensive guide on how a startup should execute, in order to:
- Survive survive before initial funding
- Prepare the company to get initial funding
- Focus to attract the right funding
This Startup Guide is first introduced at HATCH! FAIR 2014 as a collaboration between HATCH! and Cinnamon, by Cinnamon President: Ph.D Hajime Hotta.
DevOps and Testing slides at DASA ConnectKari Kakkonen
My and Rik Marselis slides at 30.5.2024 DASA Connect conference. We discuss about what is testing, then what is agile testing and finally what is Testing in DevOps. Finally we had lovely workshop with the participants trying to find out different ways to think about quality and testing in different parts of the DevOps infinity loop.
A tale of scale & speed: How the US Navy is enabling software delivery from l...sonjaschweigert1
Rapid and secure feature delivery is a goal across every application team and every branch of the DoD. The Navy’s DevSecOps platform, Party Barge, has achieved:
- Reduction in onboarding time from 5 weeks to 1 day
- Improved developer experience and productivity through actionable findings and reduction of false positives
- Maintenance of superior security standards and inherent policy enforcement with Authorization to Operate (ATO)
Development teams can ship efficiently and ensure applications are cyber ready for Navy Authorizing Officials (AOs). In this webinar, Sigma Defense and Anchore will give attendees a look behind the scenes and demo secure pipeline automation and security artifacts that speed up application ATO and time to production.
We will cover:
- How to remove silos in DevSecOps
- How to build efficient development pipeline roles and component templates
- How to deliver security artifacts that matter for ATO’s (SBOMs, vulnerability reports, and policy evidence)
- How to streamline operations with automated policy checks on container images
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Generative AI Deep Dive: Advancing from Proof of Concept to ProductionAggregage
Join Maher Hanafi, VP of Engineering at Betterworks, in this new session where he'll share a practical framework to transform Gen AI prototypes into impactful products! He'll delve into the complexities of data collection and management, model selection and optimization, and ensuring security, scalability, and responsible use.
2. Your Presenter: Robert Vong
Blockchain Enthusiast
• Industrial Bitcoin mining
• Co-founder, BlockFin Asia
– First FinTech conference in
Vietnam advocating closer industry
and regulatory collaboration
• Core team, Bitcoin Saigon
– Organising community events
• Contributor, Australian Tax Office 2014 draft
ruling on application of GST (VAT) to Bitcoin
• Australian Senate Standing Committees on
Economics Enquiry into Digital Currencies;
Role of Bitcoin in Australia whitepaper, 2014
• Bitcoin Mining Primer
2014; Reddit, r/Bitcoin• Buy-side equity research
analyst, Melbourne & NYC
• Software Engineer, and
others…
• MBA New York Univ.
• B.Eng. RMIT Univ.
3. Background: Vietnam’s First
Digital Bitcoin Exchange
•Bitcoin Vietnam
–Established in 2014
–First digital bitcoin exchange
•Full-service boutique
–OTC market making
–Brokerage
–Digital trading
–Remittances
4. Blockchain Making Headlines
“Bitcoin is a technological
tour de force” –Bill Gates
“You can't stop things like
Bitcoin” –John McAfee
“Bitcoin has the potential to
change the world” –Peter
Thiel
“Blockchain technology has the
potential to reduce transaction
costs in the energy sector”
–World Energy Council
“Blockchain presents huge cost
saving advantages” –European
Assoc. for forwarding,
Transport, Logistics & Customs
Services
“Nasdaq list of industries that will
be disrupted in 2017: private
transport, cyber security, music
distribution, healthcare, cloud
storage, supply chain
management and voting”
5. Cut Through the Confusion
- Understand high-level
concepts behind blockchains
- How is it different from
prevailing technologies
- Distinguish hype from reality
6. Bitcoin is Simple by Design
•Many computers working together
– No leader, no countries, same rules
– Self-checking
•Making new “block” about every 10 min
•Three rules define blockchains!
Block 0
Data
Block 1
Data
Block 2
Data
…
Block N
Data
“Genesis
Block”
Current
block
This is a blockchain!
7. Many Copies of the Blockchain
• Rule 1: Always accept the longest chain
• Nodes must share new blocks and keep the integrity of their
blockchain
0 1 2
…
100
0 1 2
…
99 Alert!
0 1 2
…
1000 1 2
…
100
8. Nodes Reproduce
Payment Requests
•Rule 2: Share valid transactions
•Each node must verify validity of transaction request
Mempool
Pay X
Mempool
Pay X
Mempool
Pay X
Pay X
9. Miners Confirm Transactions
•Rule 3: Miners create “blocks”
– and they get Block Rewards + Transaction Fees
•Network shares each new valid block
•Transactions not yet in the blockchain are unconfirmed
Mempool
Pay X
Block N
Data
1) Miners
make
“blocks”
2)
Propagate
new blocks
10. Cryptographic Hash = Integrity
•Hashes detect data corruption
– Ensure transactions are not altered
– Ensures blocks are not changed
– Sequentially linked blocks form a
blockchain
Lette
r
Value
A 1
B 2
C 3
… …
Z 26
Data Has
h
P A Y X = 66
16 1 25 24
P A Y C = 45
P A Y Z = 68
Block 0
Hash: 66
PAY X
Block 1
Hash: 111
PAY C
Block 2
Hash: 179
PAY Z
1) “Hashing” example 2) Linking blocks together example
11. Public Key Encryption
for Security
•Elliptic Curve Cryptography: invented 1985
•Only the Bitcoin owner can use it
– Secrets are never sent on Bitcoin network
Private Key Public Key
Message: PAY X
Encrypted HashHash: 66
Message: PAY X
Encryp
t
Decryp
t
Message: PAY X
Hash: 66
Hash: 66
(Bitcoin sender address)(Secret)
Public Information
Compare
15. 1. what is Bitcoin's legal status?
Cryptocurrencies are officially unregulated in Vietnam. This led to some confusion--for
example, in the media--about what it means. Since 2014, we have put a lot of effort into
building a community as part of our outreach to educate and inform people about the
technology of Blockchain and it's implications. Last year, we organized the first Fintech
conference in Vietnam by bringing experts from all over the world to engage key
stakeholders.
We understand the State Bank of Vietnam is interested in this topic. With support from
Asian Development Bank, they are studying how other countries view digital currencies
in order to arrive at solutions that suit the circumstances here.
Note: In the week following the presentation, Vietnam announced a comprehensive
2-year plan to bring cryptocurrencies into the regulatory framework, which involves
compliance with legal, tax and public security laws.
16. 2. how much market share does
VBTC have?
VBTC’s market share is a fraction of a fraction. The majority of trades in
Vietnam are peer-to-peer.
We estimated the overall market to be between $5 MM and $20 MM
per day at the beginning of 2017. That’s when BTC price was around
$900. At the current price level, and with all the new interest, I would
not be surprised if we were edging closer to $100 million on a busy
day.
One of the popular use cases involves overseas workers sending
money home. Bitcoin is faster, cheaper and sometimes safer than
many alternatives, which is why people use it. This is a practical
solution for some remittance corridors, but not all.
17. 3. are there stock exchanges
based on blockchain
technology?
There have been a few proposals over the years. There are also protocols built on
top of Bitcoin that allow for the tokenisation of assets, with at least one providing a
decentralized exchange feature.
When applied to stock trading, the benefits are supposedly streamlining of back
office functions and displacement of the central share registry.
Some also claim immediate trade settlement as a benefit. We don’t think that’s an
apt comparison because traditional exchanges settle post trade, whereas the
blockchain solutions I’m referring to provide instant settlement by way of using the
prepaid model. In this regard, quick settlement is not exclusive to blockchains. The
prepaid model impacts cash flow and financing, so it’s not the best comparison.
18. 4. what determines the value of
BTC (Bitcoin)?
Ultimately, it’s about supply and demand. One factor that works in
Bitcoin’s favour is limited supply. People have compared it to gold for
this reason.
The determinants behind demand are speculation and real-world use
cases. The risk in today’s market is low liquidity, which makes Bitcoin
price volatile and easier to manipulate. On the other hand, we have
observed an increase in Bitcoin adoption for commercial applications,
such as in global remittances, which boosts long-term demand for it.
19. 5. difference between wallets?
A wallet holds the keys to your Bitcoin (or other cryptocurrencies).
The safest wallet is not connected to the internet, as are software
wallets. It should be 100% in your control, and not on an exchange
service. Avoid storing your coins on exchanges because you could
lose your assets if the exchange is compromised.
Safest storage is called “cold storage”, which is a hardware wallet like a
USB “token” with sophisticated password functionality. Examples are
Ledger or Trezor brand products.
Use at your own risk, neither HATCH! not the speaker
necessarily endorse any software or hardware product.
20. 6. what are your predictions?
Even in one week there are rapid changes. Blockchain and
cryptocurrency technology as an industry is evolving very fast so it’s
hard to say.
Price is easy to relate to; in 2015 it was around $240 compared to
$4,000 today. Nobody can say for certain, but what we can see is
there is short-term volatility and a strong case for long-term adoption.
We believe this is somewhat reflected in the price trend over the years.
21. 7. what advice do you have for
miners?
I estimate the average cost of electric power for Bitcoin miners around
the world to be US $0.10. If you can’t get it for lower than $0.08 per
kWh, don’t do it.
The next factor is efficiency. Current hardware is running around 100W
per terahash (TH), so aim to be in this range. People are paying about
$100 per TH. Add onto this the logistics and setup costs for Vietnam,
which impacts your initial outlay.
Finally, factors like Bitcoin price, the quality of your power supply all
affect profitability.
22. 8. risk of exchange hacks?
Do not use exchanges as banks, do not store money there, you have
an IOU effect with the exchange. Exchanges are for trading, not
storing.
People lost money on early exchanges that were not set up properly.
New exchanges are more secure, or provide refunds to people when
they get hacked.
There is little legal recourse for lost value on exchanges, they are not
insured, or regulated, not guaranteed by the government.
Never store more value in exchange(s) than you need for active
trading.
23. 9. are bitcoin transactions
traceable?
Yes, Bitcoin transactions are fully transparent and traceable through
the transaction addresses. They call it “pseudonymous,” which means
if a Bitcoin address can be associated with a person, tracking
becomes easy.
With the new ways transactions are formatted, the recipient address
can be hidden until funds are accessed. At this point, the address is
revealed for tracking.
24. 10. security tips
You have flexibility and advantages because you control your own
money, but it also means you need to be practically paranoid:
• Protect your private keys;
• Use offline cold storage;
• Do due diligence on Exchanges you use.
Beware of spoofed public keys (e.g. merchants for which their payment
key is spoofed by a thief).
25. 11. what cryptocurrencies are
you invested in?
The speaker invests in coins he uses himself, and understands, and for
which he is building projects.
Some people are trading “altcoins” on exchanges, but it is highly risky.
26. 12. how do people create
cryptocurrencies, what will the
next one be, and how to make it
popular?
It is easy to create one, it is open source code.
But the value of Bitcoin is the network effect, the more people use it the
more value it has.
If you make your own, then maybe you can convince some friends to
use it, but you would have a very huge expense to make it popular.
27. 13. how do we evaluate a
cryptocurrency for investment?
Short term it is about marketing, and usually there’s not much behind
the projects, and people hope they can sell before others sell. It is a
form of gambling.
Long term, you have to look at the technology, look at projects (coins)
that bring value to the table, ones that have a real business use case.
Over the long run there will probably be consolidation. Now, 10 coins
are launched each day now; most will not survive. It is highly
speculative. Most people lose. Of all cryptocurrencies that are around,
only 2 or 3 will survive.