The document provides an overview of the basics of Bitcoin, including key components such as wallets, addresses, transactions, and the blockchain itself. It explains how Bitcoin operates as a distributed public ledger and touches upon the mining process for reaching consensus and issuing new coins. Additionally, it presents specific examples of Bitcoin addresses and transactions to illustrate these concepts.

1. Bitcoin
Block Chain Basics

2. Agenda
● Satoshi
● Wallets
● Addresses
● Transactions
● Block Chain
● Mining
● Issuance

3. Satoshi Nakamoto
An internet creation myth

5. Wallets
The Bitcoin software

6. Wallet

7. Addresses & Transactions

8. This is a Bitcoin address:
1Kaxcsyj3wUCkffNhfd9pLYB7hmQrFa2iq

9. This is a Bitcoin address:
1Kaxcsyj3wUCkffNhfd9pLYB7hmQrFa2iq
KyN6RvhWyAzfTtbHAfSrjZYXvsAYnNFa2C4
N8n9ttQmrBZxTWP5p
This is its private key:

10. This is a transaction.
Send
5 BTC
from
1Fi57hAqyYYwaQVdA7a9qSKfiukBbt31G3
to
1NDpZ2wyFekVezssSXv2tmQgmxco
5.2894 BTC
1Fi57hAqyYYwaQVdA7a9qSKfiukBbt31G3
12t55VJvphiUEGKqqwbd5bGGbnLkbygbV6

12. The Blockchain
A distributed public ledger

13. This is a block.

14. A new block is created every
10 Minutes.

15. A block contains recent transactions.
Txn f5d8ee…
Txn a0347d...
Txn b73151…
Txn 552c91...
Txn 8cf0cd4…
Txn e541b3...
Block 293848
Hash: 0000000000000000a452d7cfbc3a7e62ec9f31bf2dcc50ed80c23e8422d9f656

16. This is the blockchain.~300,000

17. The flow of bitcoins is publicly visible.
1QHY
…
Bg3
137y
…
H3M
1aMS
…
P3t1PxF
…
23z
1PYh
…
9NB
1LBE
…
KHz
1JdE
…
5eu

18. Mining
Reaching consensus

19. Mining
Hash( )
Block 293847
Hash: 000000000000000020cfe89a3… ...
2f51a647fb79c766906b0eb4b2
Last hash +
New Txns +
Nonce
Block 293848
Hash: 0000000000000000a452d7cf...
… ed80c23e8422d9f656

20. Network Hash Rate

21. Issuance

22. Bitcoin issuance is fixed.
2009 2041
50%
100%21
0
2014
(MillionsofBitcoins)
0%
11.5

23. Thanks!