Bitcoin as an Emerging Technology Presentation
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Transcript of Bitcoin as an Emerging Technology Presentation
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BITCOIN
Shane Hickey Barry ReganJohn Torsney12th Nov 2014
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Kristoffer Koch
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Price Volatility
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Richard Branson
“Bitcoin is working! There will be other currencies like it that may be even better but in the meantime, there is a big industry around Bitcoin. Some people made a fortune out of the currency; others lost a lot of money with it, but it is working right now.” Founder of Virgin Records, Virgin Galactic, and 400+ other businesses
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Eric Schmidt
"Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value“. CEO of Google
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Bill Gates
"[Bitcoin] is a technological tour de force." Founder of Microsoft
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Warren Buffett
"[Bitcoin] is a techno tour de force." - Bill Gates, Founder of Microsoft
"Stay away from it. It's a mirage, basically.”CEO of Berkshire Hathaway
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What is Money?
Valuable
Verifiable
Divisible
Widely accepted
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Digital Currency
What is Bitcoin?
Decentralised peer to peer payment network
No Central Authorities
Powered by its users
No transaction fees
Finite Supply
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Operations Transformation
Acquiring Bitcoin Storing your Bitcoin The Block Chain How can I use Bitcoin?
Download a digital wallet
Buy
Barter
Mine
Software on local hard drive
Mobile
Hosted online
Paper
Private Key and a Public Key
Public distributed ledger
Record of all Bitcointransactions
Protects against double spend problem
Purchase items
Invest in Bitcoin
How Does it Work?
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Competition
Traditional Currencies
Other Crypto Currencies
Government Backed Crypto Currencies
Online Payment Systems
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The Dark Side Of Bitcoin
Anonymous
Silk Road
Mt Gox
Security
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Future of Bitcoin?
Circle – Bitcoin Bank
International Government Backing
Competition
Potential Success in the Developing World
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