{
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>.
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