BIT COIN

BITCOIN
Introduction

Bitcoinis an onlinepayment
systeminvented bySatoshi Nakamoto, who
published his invention in 2008,and
released it in 2009.

Today
1BTC=257.3USD
1BTC=279,601.7KRW

What is Bitcoin?

Bitcoin is a first decentralized digital
currency

Bitcoins are transfer directly from person to
person through internet, without going to
bank or clearing house
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Where do you keep it?

Before you use bitcoin you have to create a
bitcoin wallet. It is like your regular
everyday wallet and holds your Bitcoins.
You keep your wallet on your personal

computer, or on a website. This is allows
you to send and receive Bitcoins
How do you use it?

You can send and receive Bitcoins by using
a Unique Bitcoin address. That is test your
wallet. It is kind of PayPal. PayPal
transaction use an e-mail address. Unlike
that Bitcoins allow you to use several
different addresses which increase its
privacy.
How it works?
How do you get Bitcoins? – 3 ways

Receive from payment of goods or service
that you provide

Purchase Bitcoins on exchanges. Like
exchanging US dollars for foreign currency

Through Bitcoin mining
What is Bitcoin Mining?

Bitcoins are created by solving complex
mathematical problems. Bitcoin miners use
computing power to solve this problems. Once
the problems are solved that Bitcoin miners
worth certain amount of Bitcoins. But it is
difficult for single miner to solve the problem by
their own. Mining Pool


Bitcoin miners join together as a group to solve
the problems

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How to use Bitcoins
In 2013 some mainstream websites began accepting Bitcoins

WordPresshad started in November 2012,

OKCupidin April 2013,

Atomic Mallin November 2013,

TigerDirectandOverstock.comin January
2014,

Expediain June 2014,

NeweggandDellin July 2014,

Microsoftin December 2014
Buying things with Bitcoins

There are more and more commodities
becoming available to Bitcoin holders.
Perhaps the most high profile example is
The Virgin Galactic. Their upcoming space
tourist flights are purchasable.
Buying things with Bitcoins


If you prefer your transport a little more
traditional, then the Lamborghini is the first
motor company to give the go ahead.

Acceptance by merchants

Bitcoins are accepted in thiscaféin
theNetherlands (2013)
Value

In November 2011, after a crash a Bitcoin
worth $2. November 2013, a Bitcoin topped
$1000 in value. And briefly was worth more
than a ounce of gold

ATM (BTM)

The firstBitcoin ATMwas installed in
October 2013 inVancouver, British
Columbia, Canada
Bitcoin and bankruptcy

In February 2014, the one time largest
Bitcoin exchanger was force to file for
bankruptcy protection due to possible
hacking theft or miss handling the custom
and excess 450 million dollars.
Some facts about a Bitcoin


Only 0.003% of the world (250.000 people) is estimated
to hold at least 1 Bitcoin. Only 24% of people know what
a Bitcoin is.

In 2013 James Howells accidently throw away a hard
drive that contained 7.500 Bitcoins. When he realized
their worth had grown to 7.5 million, he scoured the
dump but never found it.

In 2010, a man paid 10.000 Bitcoins for 2 pizzas, that
same amount of Bitcoins was worth millions of dollars.

A bitcoin rival called coinye was involved in a trademark
with Kanye West , who claimed the coin infringed on his
image
Popular opinion
Popular opinion
Popular opinion
Summary – Why Bitcoin?

EASY – Person to person
Send bitcoin from your computer, tablet, smart phone or other device, to
anyone, anywhere in the world, day or night.

SECURE – Strong cryptography
Bitcoin verifies transactions with the same state-of-the-art encryption
that is used in banking, military and government applications.

OPEN – Fully decentralized
Bitcoin is open-source. Nobody owns it; the most popular client is

maintained by a community of open-source developers.

FAIR – Minimal Fees
Using the Bitcoin network is free, except for a voluntary fee you
can use to speed up transaction processing.
Thank you for
your attention