cryptocurrencies - a serious introduction
DESCRIPTION
A high level overview of the world of Cryptocurrencies, liberally illustrated with Doge memes. This was a lightning talk (5-7 minutes), so it scratches the surface, hopefully enough to get you interested in the world of cryptocoins. It begins with the basic definitions, the reasons to use and accept cryptocurrency, the main currencies (Bitcoin, Litecoin, Dogecoin), the many altcoins and their distinguishing factors, and finally introduces you to cryptocoin mining (producing your own coins using your computer).TRANSCRIPT
CryptocurrenciesA Serious Introduction
Drake EmkoRevionics
Cryptocurrency: What?It is a Digital Currency that uses cryptology for security
Decentralized Not issued by any central authority Trust based on peer-to-peer consensus
Anonymous (More or less) Transactions are not tied to your identity
Wow?Bitcoin is the first and most popular cryptocurrency, created in 2009
Why? For BusinessesNo (or low) transaction fees compared to credit cards!
coinpayments.netmoolah.io
Built in customer base of cryptocurrency enthusiasts
Source: coindesk.com
Why? For Users
Distrust of government surveillance, currency manipulation
FUNCommunityMiningCurrency tradingMaybe get rich!
Cryptocurrency: Which?Bitcoin Biggest
Most valuable
Litecoin Second biggest (arguably)Easier to Mine
Dogecoin SilliestBest community
All of the Rest!
source:altcoinherald.com
Not All Coins Are Equal
Source: coingecko.com
Developments - MiningProof of Work (PoW) algorithms
Old School - Only big mining farms using ASICs can profitSHA-256 - Bitcoin
Next Generation - Make algorithm more memory intensive, give GPU miners a chance!Scrypt - Litecoin, Dogecoin
Brave New World - Defeat the first generation of ASICs!Scrypt-N, X11, X13 - Vertcoin, Darkcoin, CloakCoin
such environmental!
More DevelopmentsProof of Stake (PoS) - Earn coins by holding them (like interest)
Pandacoin (PND), Reddcoin, Bottlecaps
Improved anonymityDarkcoin, Monero, Anoncoin
Outside the Box!Colored Coins - Create your own currency on the Bitcoin network
Mastercoin, Bitshares, Counterparty - Financial derivatives, savings wallets,decentralized exchange
Ethereum - Framework and programming language for creating cryptocurrencies
such advanced!
How to Mine CoinsCPU Mining
Download: sourceforge.net/projects/cpuminer
How to Mine CoinsGPU Mining
such efficient!
Download:Mac Minercgminer & more
How to Mine CoinsASIC Mining
FastestExpensive
such such such fast
much warn: most hardware companies = SCAM
How to Mine CoinsEntry Level ASICs: try Ebay
less bankrupt!
Buying and SellingCryptocurrency Exchanges
MintpalCryptsyBittrex & more
How To Use CoinsTipping on social media
Donate to good causes
Buy stuff!
New Frontiers
Such many apps to develop!
Everything is new...