Digital currency, Bitcoins
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Transcript of Digital currency, Bitcoins
DIGITAL CURRENCY, BITCOIN R E T H O R I C S K I L L S P R E S E N T A T I O N
F E S S E H A T S E G A Y E M A M O
H O C H S H U L E O F F E N B U R G
A P R I L 2 0 1 3
CONTENTS • Money and Digital Currency • Cryptocurrency • Bitcoin
Concept Statistics and market vlaue What can you do with bitcoins?
MONEY AND DIGITAL CURRENCY • Electronic money that acts as
alternative currency • They are not produced by
government-endorsed banks • Unlike virtual money they are used in
transactions of real goods and services
DIGITAL CURRENCIES
http://en.wikipedia.org/wiki/Digital_currency
CRYPTOCURRENCY
• Holder has ownership
• No other records kept as to identity of owner
• Easy to keep anonymous
http://en.wikipedia.org/wiki/Digital_currency
CRYPTOCURRENCY ...
• Hard or impossible to replace if lost or stolen
• Derives trust from mathematical properties
• Based on established, trusted cryptographic primitives
http://en.wikipedia.org/wiki/Digital_currency
BITCOIN
• Decentralized
• Anonymous
• Created via peer-to-peer networks
• Concept created by „Satoshi Nakamoto“
BITCOIN CONCEPT
• Public but anonymous transactions
• Based on block chaining of cryptographically-signed transactions
• Miners – secure the system
BITCOIN CONCEPT ...
• Miners are awarded bitcoins or transaction fees for successfully finding blocks
• ~21million bitcoins
https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png
BITCOIN STATISTICS
http://en.wikipedia.org/wiki/Digital_currency
BITCOIN STATISTICS ...
http://blockchain.info/charts/
BITCOIN MARKET VALUE
http://blockchain.info/charts/
WHAT CAN YOU DO WITH BITCOINS?
• Snacks
• Vitamins and supplements
• Website hosting
• A sports car!
http://blockchain.info/charts/
http://blockchain.info/charts/
Traveling the Silk Road: A measurement analysis of a large anonymous online marketplace
http://wikispeed.com/Affordable
Thank you!
Any Quesitons?