Bitcoin

AUGUST 2014

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AGENDA

Bitcoin Introduction

Market Penetration & Growth Map

Global Market Scenario

Exchanges

Scope of Development in Geographies

Nihilents Approach

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Introduction

Bitcoin (BTC) is a peer-to-peer cash payment system. Its a fully implemented crypto-
currency which allows online payment from one party to another without intervention
of any third party or financial institutions

The inception of Bitcoin took place in January 2009

It is open source and anyone can be a part of it

Overall 21 million Bitcoins to be issued

It is the most dominant crypto-currency by far

Current market capitalization is 6.7 billion USD as of August 2014

Every transaction made is public and visible to each and every person using Bitcoin
network

Managing the transactions and issuance of Bitcoin is carried out collectively by the
network

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Market Penetration & Growth Map

Bitcoin acceptance has seen a steep rise in number of merchants who have started
accepting it.

In November 2012 the number was around 30 merchants and by June 2014 it is
recorded to be 30000+ including bigwigs like Virgin Galactic (travel),
Wordpress.com (web services), Murfie.inc (entertainment), Dell (e-commerce) and
many other retail chains like Pizza Guys.

According to Goldman Sachs, in 2013 money transfer fees would have fallen by
90% if Bitcoin had been used.

Since its inception in 2009 the prices have surged significantly. Initially, 1 Bitcoin
was worth US$ 0.01 and currently its price is around US$ 500 (as in August 2014)

Sources report that around 63000+ businesses now accept Bitcoin including
Expedia, DISH, Newegg.com

5.3 million is the total number of Bitcoin wallets downloaded by masses

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Global Market Scenario in different countries

Countries accepting Bitcoin

Major economies like UK, US, Australia,
Japan, Canada, Hong Kong, Germany,
etc are amongst those which have legal
framework for Bitcoin acceptance.

Countries not accepting Bitcoin

There are economies which are
currently not accepting Bitcoin like
Bolivia, Ecuador, Iceland, China. Bolivia
finds that crypto-currencies will permit
enterprises to evade taxes also these
are not regulated so it may pose a risk
to the economy. Iceland though
considers Bitcoin as foreign currency
but take a stand that bitcoins, if mined
within Icelandic borders could be freely
traded.

Countries neutral about Bitcoin

There are certain economies which are
taking a neutral stand on Bitcoin.
Countries like India, Taiwan, Indonesia
are keeping an eye on this emerging 6
Bitcoin Exchanges

Bitcoin exchange is a marketplace where customers can trade Bitcoin for other
assets such as conventional fiat money. The exchange in turn charge the
customers to convert their Bitcoins in to other currency. Some of the well
known exchanges around the world are:

Coinbase USA

Cryptsy USA

Bitstamp UK

itBit Singapore

BTC-e Bulgaria

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Bitcoin in News

Wikipedia reveals that Bitcoin is the 89th most heavily trafficked Wikipedia
page in last 90 days, as of July 2014

Google search interest in Bitcoin during Q2 2014 has remained relatively

constant

Intellects have mixed opinions of their own

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Future Scope

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