2. 2
2005 - Wie funktioniert Geld? – Max von Bock – YouTube
3. Reviewer: “What Zarlenga elegantly makes clear is that all money has
always been a creature of law, i.e. someone decrees it so. As such it is
open to abuse and perversion.”
3
2007 – Reading about money
- Stephen Zarlenga
- 700 Pages
- Now 100 € - 300 €
5. June 2011 – Exchange rate of Bitcoin in USD
BTCPI
$25
BTCPI
$300K
laszlo first to buy pizza with Bitcoins agreeing upon
paying 10,000 BTC for ~$25 worth of pizza
6. What I got from the first reading
• Digital Currency
• Created by computers through cryptography
• Sounds like a revolution
10. Failed Attempt
Tried to register on two different sites on a sunday
Failed completing the registration
I really don‘t know why – Probably tried to do it while doing other
things
11. First Crash in 2011
Probably you’ll never know exactly why the crash came – at the end
it’s a trust game
13. Jan 2013 – Omega Tau Podcast
Gavin Andresen
Technical lead at the
Bitcoin Foundation
Quite good explanation
Still needed to listen to it
several times
16. 16
Process of buying Bitcoins at bitcoin.de
Register
Connect
Bank Account to
bitcoin.de
User Account
(like PayPal)
Buy and Sell Bitcoins
based on
user trust level
(Gold, Silver, Bronce)
1 2 3
19. It‘s based on cryptography which is based on mathematics
Before trying new things people want to understand them.
Bitcoin is quite hard to grasp
Look at the Transfer Adress:
19
UX Flaw No. 1 – Understanding it.
Bitcoin is the Linux of money
22. The position of the government towards people trading, buying and
selling bitcoins is unclear.
Would you work for bitcoins?
What about taxes?
22
UX Flaw No. 3 – Legality
§?
24. 24
UX Flaw No. 4 – What to do with Bitcoins
Exchange
Financial Investment
Online Casino
Payment
Volatil
Volatil and for what?
Satoshi Dice 3,6 Mio Bets
25. Never underestimate the power of the believers
Mistrust in other currencies and trust in Bitcoins - In no one we trust
Mining Computers are beeing build and sold – Hashing Power?
The difficulty Level for mining is getting higher
People are innovating, writing software, building devices with the an
incentive – Different then just open source software (number of
developers)
25
The Bitcoin Believers - The Communiy of Trust
27. 27
Bitcoin network has the power of 1039.79 petaflops
Applying the 12,700 flops per
hash rate to the leading
supercomputers shows the
top 10, with a combined
speed of 48 petaflops, have
just 5 percent the muscle of
today’s bitcoin network,
according to The Genesis
Block. Even adding in the
remaining 490 most powerful
supercomputers achieves just
a fraction of what the bitcoin
network can do.
28. 28
ATM Machines for getting Bitcoins
Attendee Evan Rose fed two
$20 bills into the machine
and saw the bitcoins hit his
digital wallet within seconds.
29. 29
Hardware devices like the
TREZOR that cannot be
infected by malware will
make holding bitcoins as
easy and secure as holding
paper money. They are an
exciting step in the
evolution of Bitcoin from an
experiment for geeks to a
payment system anybody
can use.
Lock your Bitcoins in a specialized hardware lock
31. 31
From the start of May until
June 4, China soared to the
top of the charts, surpassing
even the US. During that
period, Chinese addresses
accounted for just over one
quarter of all downloads of
the original Bitcoin client.
The US had a still-
respectable 21.94 percent.
32. 32
130 Developers working on bitcoin
Read: http://motherboard.vice.com/blog/whos-building-bitcoin-an-inside-look-at-bitcoins-open-source-development
