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  • Bitcoin Presentation

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    Manoj A Talikoti
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    Bitcoin is a digital currency and payment system that operates on a decentralized peer-to-peer network without central authority or banks. It was first introduced in 2008 by an unknown person under the name Satoshi Nakamoto. Transactions are recorded on a public ledger called the blockchain which prevents double spending. While bitcoins offer benefits like low transaction fees and circumventing capital controls, they have also been used for illegal activities like money laundering and face legal issues and volatility risks that limit widespread adoption.

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    Bitcoin is a digital currency and payment system that operates on a decentralized peer-to-peer network without central authority or banks. It was first introduced in 2008 by an unknown person under the name Satoshi Nakamoto. Transactions are recorded on a public ledger called the blockchain which prevents double spending. While bitcoins offer benefits like low transaction fees and circumventing capital controls, they have also been used for illegal activities like money laundering and face legal issues and volatility risks that limit widespread adoption.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    197 views16 pages

    Bitcoin Presentation

    Uploaded by

    Manoj A Talikoti
    Bitcoin is a digital currency and payment system that operates on a decentralized peer-to-peer network without central authority or banks. It was first introduced in 2008 by an unknown person under the name Satoshi Nakamoto. Transactions are recorded on a public ledger called the blockchain which prevents double spending. While bitcoins offer benefits like low transaction fees and circumventing capital controls, they have also been used for illegal activities like money laundering and face legal issues and volatility risks that limit widespread adoption.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 16

    Presenter : Azhar

    What are we looking at?


    What are Bitcoins? History Transactions Economics Legal issues Reception Bitcoin controversies

    BITCOIN
    What is a Bitcoin?

    Bitcoin is an open source pear-peer payment network & digital currency Bitcoin is also called as crypto currency

    HISTORY
    Bitcoin was first mentioned in 2008 papers published under the pseudonym Satoshi Nakamoto It became operational in early 2009 Bitcoin began attracting media attention in late 2012, and numerous news articles have been written about it.

    TRANSACTIONS
    Blockchain Payment processing wallets

    BLOCKCHAIN
    A public transaction ledger and log is known as blockchain. The blockchain prevents double spending. The blockchain is maintained not by a centralised body but by a distributed network of computers that run a program to solve cyrptographic puzzles this is called MINING Capping of bitcoin - 21 million bitcoin

    PAYMENT PROCESSING

    WALLET (Digital wallet)

    Electrum - a digital Bitcoin wallet

    A paper Bitcoin wallet

    ECONOMICS
    Stability in currencys value perhaps an important rule in peoples willingness to use it. The volatility has little effect on the currencys utility as medium of transfer from one currency to other. The amount of time money is stored as bitcoin is small so the fluctuations will also be minor. The fees and delays involved in transferring the money across the borders via bitcoin are small compared to those imposed by banks and their intermediaries in the standard way.

    THE BIG QUESTION


    Can Bitcoin be an alternative to national currency???
    It can be used to circumvent inflation, capital controls, and international sanctions. Bitcoins are used by some Argentineans as an alternative to the official currency, which is stymied by inflation and strict capital controls. Some Iranians use bitcoins to evade currency sanctions.

    BBC CAPITAL MAGAZINE

    LEGAL ISSUES
    Bit coin association with criminal activities has historically hindered the currency from attaining widespread. 1. Black money 2. Money laundering 3. Unauthorized mining

    RECEPTION
    Francois R. Velde, senior economist of the Federal Reserve in Chicago who described it as "an elegant solution to the problem of creating a digital currency Nov 2013 Richard Branson of Virgin announced that it would accept bitcoin as payment.

    BITCOINS SHARE OF CONTROVERSIES


    2012 became popular because of its role in dodgy online market. 2013 FBI shut down on such services like silkroad.com 2013 dec BIDU chinas biggest search engine stops acceping bitcons after the nations central bank banned financial institutes from handling transactions.

    REFERENCES
    www.wikipedia.com www.BBC.com www.youtube.com

    Thank you for your patience. Any queries???


    Presented by : Azhar

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