The shape of money is transforming - it's becoming digital. Bitcoin is emerging as the digital currency of the world and this document provides information about Bitcoin.
4. Bitcoin – An Introduction
Satoshi Nakamoto in 2009 released an open source software, called Bitcoin
No one knows who Satoshi is – a person or a group?
?
5. Bitcoin – An Introduction
Allows peer-to-peer transaction without any third party mediation
6. Node
Node
Blockchain
Blockchain
Peer
User
Bitcoin – An Introduction
Group of transactions, called block, is transacted every 10 minutes
New transactions, as part of the block, are broadcast on all nodes
Nodes accept the block only if all transactions in a block are valid and not previously spent
Transactions are recorded in Blockchain, a public ledger or a distributed database
Block 1 Block 2
10 Minutes
Source: “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto
User
7. Bitcoin – An Introduction
Only 12.5 Bitcoins are mined every 10 minutes and this number becomes half every 4 year
There will be only 21 million Bitcoins; currently about 16.37 million Bitcoins are in circulation
8. Future of Bitcoin
Demand is growing across the world and the supply is limited
S
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P
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Y
D
E
M
A
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& =
9. Future of Bitcoin
Only 0.1% to 0.2% of population are transacting Bitcoin
Since inception Bitcoin price has only increased (source: http://bitcoincharts.com)
10. Future of Bitcoin
Bitcoin is a new concept, hence volatility is higher but stabilizing over time
11. Future of Bitcoin
Market capitalization increased from $1 Billion to nearly $40 Billion in 7 years
(source: http://coindesk.com)
12. Future of Bitcoin
Recently Asian countries have actively participated in Bitcoin, raising its price
substantially
(source: http://bitcoincharts.com)
13. Future of Bitcoin
More countries are regulating Bitcoin, recently Japan recognized Bitcoin as a
legal currency
Source: http://coindesk.com
14. Future of Bitcoin
Bitcoin price is predicted to be $5,000 by next year
Some enthusiasts believe that 1 Bitcoin can be $100K or more by 2030
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
2016 2018 2020 2022 2024 2026 2028 2030 2032
BITCOIN FUTURE PRICE SPECULATION
15. Investing in Bitcoin
Bitcoin is a digital currency, asset, technology, and system
Invest on long term basis; short term can be risky due to volatility
Short
Term
Investment
VS.
16. Investing in Bitcoin
Bitcoin is a new experiment but an exciting one, so invest what you can afford
to lose
17. Investing in Bitcoin
You can either mine or purchase Bitcoins
Coinbase and Gemini are leading exchanges in the US
http://www.coinbase.com
http://www.gemini.com
Once an account is setup:
Know transactions limit per week
Keep your wallet secured with strong password and dual factor authentication
Bitcoin transactions are irreversible, so you will lose Bitcoin if someone hacked your wallet
Learn different ways to keep your wallet secured
18. In Summary…
Bitcoin is exciting and disrupting
It will be probably a mistake of your lifetime if you don’t invest in Bitcoin
It will be a big mistake if you invest more than you can afford to lose
Bitcoin has potential to turn your investment in many folds
It is not too late to invest in Bitcoin!