{

The New Age Currency: Bitcoins

Holiday ColesNovember 12, 2013

What is a Bitcoin?

• Virtual Currency

• Started in 2009, Satoshi Nakamoto

• “Mining”

• Algorithms and Limited Amounts

• Created out of thin air

-Untraceable

-Government can not impose

{ {Advantages Government can’t

track Limited quantity,

like Gold Standard Market Value More widely

accepted

Disadvantages

Used for Black Markets

Needs computer power

Volatile Values Anarchist

association

Are Bitcoins Worth It?

Market Rate As Of 1D Change

YTD Change

Volume in USD

BitStamp 319.00 11/11/13

-5.35% 2,343.27% 56,055.53

BTC-e 322.90 11/12/13

6.40% 2.342.77% 22,208.71

Camp BX 316.00 11/12/13

5.00% 2,281.99% 1,014.00

Mt. Gox 365.00 11/12/13

7.93% 2,608.96% 104,364.81

Recent Exchange Rate

$$$$$$

Future of Bitcoins

• Taking ground in China, Russia,

Spain

• USA as Launching Pad

• Full potential/uses unknown

More Info On Bitcoins

bitcoin.org

bitcoin.com

Bitcoinfoundation.org

en.wikipedia.org/wiki/Bitcoin

References"Bitcoin Charts." - Quandl. N.p., 11 Nov. 2013. Web. 11 Nov. 2013.

<http://www.quandl.com/markets/bitcoin>. Bustillos, Maria. "The Bitcoin Boom." The New Yorker. The New Yorker, 02 Apr. 2013. Web. 14 Oct. 2013. <http://www.newyorker.com/online/blogs/elements/2013/04/the-future-of-bitcoin.html>. Chen, Lulu Y. "Bitcoin Mania Grips China." Businessweek. Bloomberg Businessweek, 05 Sept. 2013. Web. 13 Oct. 2013. <http://www.businessweek.com/articles/2013-09-05/bitcoin-mania-grips- china>. Ford, Paul. "Bitcoin May Be the Global Economy's Last Safe Haven."

Businessweek. Bloomberg Businessweek, 28 Mar. 2013. Web. 13 Oct. 2013. <http://www.businessweek.com/articles/2013-03-28/bitcoin-may- be-the-global-economys-last-safe-haven#p1>. 

References (cont.)France-Presse, Agence. "Federal Reserve Studying Effect of

Paypal and Bitcoin on Banking | The Raw Story."

Federal Reserve Studying Effect of Paypal and Bitcoin on

Banking | The Raw Story. N.p., 03 June 2013. Web. 19

Oct. 2013. <http://www.rawstory.com/rs/

2013/06/03/federal-reserve-studying-effect-of-paypal-and-

bitcoin-on-banking/>.

 

"Germany Declares Bitcoins to Be a Unit of Account."

SPIEGEL ONLINE. N.p., 20 Aug. 2013. Web. 17 Oct.

2013. <http:// www.spiegel.de/international

/business/germany-declares- bitcoins-to-be-a-unit-of-

account-a-917525.html>.

 

Vines, Stephen. "Bitcoin's Teething Troubles Not Unusual."

South China Morning Post. N.p., 09 Oct. 2013. Web. 23

Oct. 2013. <http:// www.scmp.com

/business/article/1327349/bitcoins-teething- troubles-not-

unusual>.