a bitcoin intro
DESCRIPTION
An intro to the world of Bitcoins.TRANSCRIPT
@exmosis bitcoinlife.wordpress.com
Global
Usable
Open
Economically Experimental
The Exciting Stuff
What is Bitcoin?
What is Bitcoin?
Invented in 2008 by "Satoshi Nakamoto"
Bitcoin / Bitcoins / BTC
Digital Virtual Crypto currency?
Digital Virtual Crypto currency?
Internet currency
What is Bitcoin?
MATHSRULES
CODERULES
NETWORK RULES
What is Bitcoin?
Like Money
but slightly different
What is Bitcoin?
Like Pounds
but more "limited"
What is Bitcoin?
Like Paypal
but more chaotic
What is Bitcoin?
Like Second Life money
but you can buy stuff
Bitcoin MIGHT BE:
Bitcoin IS...
Bitcoin MIGHT BE:
Relatively fast (to anywhere)
(~ 10 minutes)
Bitcoin IS...
Bitcoin MIGHT BE:
Relatively free (to anywhere)
Bitcoin IS...
Bitcoin MIGHT BE:
Relatively transparent
http://www.bbc.co.uk/news/technology-19633980
Bitcoin IS...
Bitcoin MIGHT BE:
Hackable
Bitcoin IS...
Bitcoin MIGHT BE:
Your responsibility
"Bitcoin doesn't ask that users trust any institution.
Its security is based on cryptography." - Bitcoin FAQ
Bitcoin IS...
Bitcoin is NOT...
Not (totally) Instant
Bitcoin is NOT...
Not (totally) Anonymous
Bitcoin is NOT...
Not for the Faint-Hearted?
http://www.bbc.co.uk/news/technology-19486695
Bitcoin is NOT...
Not Illegal
Bitcoin is NOT...
Not necessarily easy to get
Bitcoin is NOT...
Not too stable (yet)
Bitcoin is NOT...
Source
BTC vs USD
Not great for Offline (yet?)
Bitcoin is NOT...
Not Tested For Hundreds of Years (yet)
"Bitcoin is an experimental, virtual currency that may succeed or may fail. "
- Bitcoin FAQ
Bitcoin is NOT...
Not a Pyramid Scheme
Bitcoin is NOT...
The Bitcoin Pyramid
The Bitcoin Stack
You are here?
Software
Protocol (Rules)
Payments
Economy
Community
The Bitcoin Pyramid
1. Protocol
Protocol
Who owns which numbers?Public/Private Keys are awesome
1. Protocol
Protocol
Who keeps track of it all?
1. Protocol
Protocol
Where do Bitcoins come from?
1. Protocol
Protocol 1. Protocol
Crypto Power=
Verified Ownership
Protocol 1. Protocol
Computing Power=
Verified History
1. Protocol
http://anonymity-in-bitcoin.blogspot.co.uk/
2. Software
Software
Clients
2. Software
Software
Clients
2. Software
Software
APIs, Hackabilitye.g. blockchain.info
rugatu.com satoshidice.com
2. Software
Software
Making the virtual physicalCoins
Cheques Cards
Print-your-own* Physical wallets
2. 'Software'
3. Payments
Payments 3. PaymentsHow can I get me some?
freebitcoins.appspot.comIRC
intersango.commtgox.com
For cash: localbitcoins.com(Or sell something?)
(Or beg?)
Payments 3. PaymentsHow can I get me some?
PingIt!
What can I buy?ServicesClothing
Handmade foodWatches
Tiny cannonsSoap
Tooth repairsMitt Romney's tax returns
Payments 3. Payments
HostingGames
MagazinesChocolate
Tea & CoffeeWeddings
MusicPirateboxes
Payments 3. Payments
3. Payments
Wiki list of traders
Source
Payments
How do I pay?196uGPvLidBWE9M7xT8QBk6Bj8qmUxFdMf
Hmmm.
Catchy.
3. Payments
Payments
QR Codes
3. Payments
First Bitshttp://blockchain.info/address/196uGPvLidBWE9M7xT8QBk6Bj8qmUxFdMf
First Bits: 196ugp
(Only after first use though)
Payments 3. Payments
http://blockchain.info/wallet
Bitcoin in Action
Payments
Third PartiesSlowly appearing
e.g. www.bitpay.com
Effort/Value feedback...
3. Payments
4. Economy
Economy
What is "value"?
Usefulness+
Demand
4. Economy
Economy
What is "value"?
That is it.
4. Economy
What is Bitcoin's "usefulness" value?
- Ease of use?- Scarcity?- Self-fulfilling value / Speculation?- ... Other?
Economy 4. Economy
Value = Attention = Use = Demand = Value = Attention = Use = Demand = Value = Attention = Use = Demand = Value = Attention = Use = Demand = Value = Attention = Use = Demand = Value = Attention = Use = Demand = Value = Attention = Use = Demand = Value = Attention = Use = Demand = Value = Attention = Use = Value = Attention = Use = Demand = Value = Attention = Use = Demand = Value = ...
Economy 4. Economy
5. Community
Community
Is there a community?Yes and No...
Self-Interest vs Network-InterestHoarders vs SpendersScammers vs Victims
5. Community
Community
Is there a community?More responsiiblity
=
More social feedback
5. Community
Community
What happens next?* - User friendliness- More openness- Price stability?- Killer app?
*(IMHO)
5. Community
Community5. CommunityHow does Bitcoin scale?
Value is floating
Difficulty is floating
Bitcoins are declining
Interest is ... ?
Interested?Intrigued?
Indifferent?Let's talk!
[email protected]/exmosisbitcoinlife.wordpress.com
14nAMRedT3b31miF3bpfMwY2VSe5tF19oD
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weusecoins.comBitcoin WikiBitcoin FAQBitcoin Businesses
Thanks.
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