The world’s first decentralized digital currency Rahul V


50 to $1200.Bitcoin is digital  Ownership of bitcoins is digital information  Typically used with a computer and the internet and stored in a digital wallet  Based on cryptography  Process of producing Bitcoins is called Mining  Its value has risen from $13.00 in less than a year 2 .

Bitcoin is decentralized  There is no company “Bitcoin Ltd.”  There is no central issuer or controller  Based on a public protocol and free software  Run by a peer-to-peer network of computers  Multiple parties are each “doing their own thing” 3 .

and MOTOrola 4 .Bitcoin is the first!  Plenty of physical currencies  Gold. LR. silver. e-gold. WoW gold. SLL. EVE isk…  Bitcoin is the world’s first decentralized digital currency  Invented in 2008 by “Satoshi Nakamoto” (pseudonym)  SAmsung. NAKAmichi. TOSHIba. rocks…  Plenty of centralized digital currencies  PayPal. seashells. DigiCash. WebMoney.

Why?  No single point of failure  Secure  International  Pseudonymous  based on digital signatures rather than passwords  Fees are currently up to half a cent per transaction 5 .

server hosting.Bitcoin adoption (Mar 2013)  Bitcoin “Market capitalization”: $750M  Users: ~300K  Bitcoin-accepting businesses: ~3000. Cornell. Internet Archive. clothing. including  Wordpress. software. Wikileaks. OkCupid  BitcoinStore  Freelancers. restaurants…  Accepting donations: FSF. electronics. xkcd…  Academic research: WIS. books. Microsoft. car accessories. Namecheap. ad networks. video games. Mega. Reddit. groceries. ECB… 6 . ETH Zurich…  Reports: FBI.

Thank you 7 .

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