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BITCOINT

Presented by
Mai & Rosie
Content
I, What is Bitcoin?
II, History of Bitcoin
III, How Bitcoin works
IV, Bitcoin around the world
V, Pros and cons
History of Money
Beginning
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 5


Advertising for Bitcoins
Buy on an Exchange
Several marketplaces to buy
or sell bitcoins using different
currencies.
Mt. Gox is the largest bitcoin
exchange.
Transfers
Using mobile apps or
computers.
Its similar to sending
cash digitally.
Mining
People compete to
mine bitcoins using
computers to solve
complex math puzzles
bitcoins are created.
a winner is rewarded
with 25 bitcoins
roughly every 10
minutes.
III, How Bitcoin works?
Get bitons
1. Buy bitcoins.
2. Mine bitcoins.
3. Bitcoin business.


Bitcoin Wallet
1. Bitcoin-Qt
2. Bitcoin Wallet

Bitcoin Mining
CHANGING IN BITCOINS VALUE

Bitcoin Store
From Feb 27, 2013

(uses BITPAY)
Bitcoin Bars
Bitcoin ATM
Installed in a Vancouver coffee
shop, October 2013
Advantages of Bitcoins

1. Protection From Payment Fraud
2. No middleman
3. Time saving
4. Access to Historically Inaccessible
Markets
5. 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 end
Thank you for listening!