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BITCOINTPresented byMai & Rosie

ContentI, What is Bitcoin?

II, History of BitcoinIII, How Bitcoin works

IV, Bitcoin around the worldV, Pros and cons

History of MoneyBeginning

of Time 3000 BC 700 BC 1694

1971 2009 2020

Problems with traditional money & transactional network

• Control (companies, banks and governments)

• Transaction fee• Chargeback risks• No underlying value

I, What is Bitcoin?

• New, government independent currency that was created in 2009 by an unknown person.

• An open source Peer to peer (P2P)

The Bitcoin was developed by Satoshi

Nakamoto.

SAmsung TOSHIba NAKAmichi MOTOrola.

It has the same characteristics as gold.

II,History of bitcoin

Proposed as a “P2P electronic

cash system” by an unknown

software engineer

First Bitcoin issued

electronically.

Mt. Gox trading market opens.

U.S. Treasury

issues first regulatory guidance for virtual

currencies,

October 2008. January 2009. July 2010 March 2013.

III, How Bitcoin works?Bitcoins are purchased by using local currency at exchanges like Mt. Gox.

Each Bitcoin is a string of codes. With each transaction, a new code is attached

=> Possible to trace all the exchanges of each Bitcoin in circulation

=> prevents doubleuse.

How do bitcoins look like?

16UwLL9Risc3QfPqBUvKofHmBQ7wMtjvM

Public key: 32 characters starting with 1 or 3

Private key: 51 characters starting with 5Advertising for Bitcoins

Buy on an ExchangeSeveral marketplaces to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange.

TransfersUsing mobile apps or computers. It’s similar to sending cash digitally.

MiningPeople compete to “mine” bitcoins using computers to solve complex math puzzlesÞ bitcoins are

created. Þ a winner is

rewarded with 25 bitcoins roughly every 10 minutes.

III, How Bitcoin works?

• Get bitons1. Buy bitcoins. 2. Mine bitcoins.3. Bitcoin business.

• Bitcoin Wallet1. Bitcoin-Qt2. Bitcoin Wallet

Bitcoin Mining

CHANGING IN BITCOIN’S VALUE

Bitcoin Store

From Feb 27, 2013

(uses BITPAY)

Bitcoin BarsBitcoin ATM• Installed in a Vancouver coffee

shop, October 2013

Advantages of Bitcoins

1. Protection From Payment Fraud2. No middleman

3. Time saving4. Access to Historically Inaccessible

Markets5. Lower Fees

6. No unpredictable inflation by printing more money by political decision.

Limitations & Risks of Bitcoins

• 1. Financing illegal and Immoral Activities

• 2. High Risk of Loss- Lack of Security. - Increased Regulation.- Limited Scaling. - Lack of Applications.

• 3. Excessive Volatility

The endThank you for listening!