bitcoin - understanding the hype by jay yerxa, 2014-06-09 silicon mountain meeting
DESCRIPTION
Jay Yerxa, a Bitcoin investor and developer, will explain in layman’s terms how there is much more to Bitcoin than its well-known use as a virtual currency. This new technology, which has never existed before in computer science, has received worldwide attention and is often misunderstood. Jay will explain how its use as a currency for the Internet is merely the first application of the Bitcoin technology and how the underlying block chain technology and decentralized nature of Bitcoin will form our future. In addition to speaking about the core technology of Bitcoin, Jay will discuss financial and legal matters related to Bitcoin, as well as regulations. You can learn more about Jay and Bitcoin at jasonyerxa.com. You can find us on LinkedIn and Facebook and at TahoeSiliconMountain.com or sign up for email meeting announcements here: http://bit.ly/14XGofL.TRANSCRIPT
Bitcoin
vs
bitcoin
Bitcoin nodes
https://getaddr.bitnodes.io/
Proof of work
confirmations
Bitcoin block
transaction,transaction,transaction…
Bitcoin block
transaction,transaction,transaction…
Bitcoin block
transaction,transaction,transaction…
10 minutes 10 minutes
bitcoin creation
Determining value?
Typical early bitcoin adopter• altruism• crypto• security
Geeks
• Against the FED• Hard money
Libertarians
• Deep web• Silk road
Pseudonymous transactions
• Remittances• Microtransactions
People wanting to save on fees
Bitcoin Ecosystem
Exchanges• USD to
bitcoin
Payment Processors
• bitcoin to USD
Miners• bitcoin
creation
Business accepting
BTC as payment
Regulation
• Federal vs State • FINCEN• IRS
Blockchain development
• M of N transactions• Smart contracts • MaidSafe• Colored Coins
♫ you say you want a revolution.. ♫
Resources
Satoshi’s white paperBitcoin.orgReddit.com/r/bitcoinBitcointalk.org