Bitcoin is a proposed electronic payment system based on mathematical proof. It is created digitally by a community through mining using computing power in a decentralized network. Only 21 million bitcoins can ever be created, which can be divided into smaller units. Unlike conventional currency backed by gold, bitcoin is based on mathematics through software programs following an open source mathematical formula that anyone can check.

2. BITCOIN
GROUP 9
DHAVAL BUDDHADEV-112
KUNAL VARMA-184
SOURABH SHARMA-177
KARAN SHAH-164
RAVI MARU-141

3. What is BITCOIN ?
• A software developer called Satoshi Nakamoto proposed bitcoin,
which was an electronic payment system based on mathematical
proof. The idea was to produce a currency independent of any central
authority, transferable electronically, more or less instantly, with very
low transaction fees.
• Current value of bitcoin is – 48,336.27 INR

4. Who prints it ?
• No one. This currency isn’t physically printed in the shadows by a
central bank, unaccountable to the population, and making its own
rules. Bitcoin is created digitally, by a community of anonymous
people. Bitcoins are ‘mined’, using computing power in a distributed
network.
• This network also processes transactions made with the virtual
currency, effectively making bitcoin its own payment network.

5. So you can’t churn out unlimited bitcoins?
• In the bitcoin protocol the rule is that, only 21 million bitcoins can
ever be created by miners. However, these coins can be divided into
smaller parts (the smallest divisible amount is one hundred millionth
of a bitcoin and is called a ‘Satoshi’, after the founder of bitcoin).

6. What is bitcoin based on?
• Conventional currency has been based on gold or silver. Theoretically,
you knew that if you handed over a 2000 rupee note at the bank, you
could get some gold back (although this didn’t actually work in
practice). But bitcoin isn’t based on gold; it’s based on mathematics.
• Around the world, people are using software programs that follow a
mathematical formula to produce bitcoins. The mathematical formula
is freely available, so that anyone can check it.
• The software is also open source, meaning that anyone can look at it
to make sure that it does what it is supposed to.

7. What are its characteristics?
• It's decentralized
• It's easy to set up
• It's anonymous
• It's completely transparent
• Transaction fees are miniscule
• It’s fast
• It’s non-repudiable

8. Countries accepting BITCOIN(S)
• USA
• UK
• DENMARK
• FINLAND
• CANADA
• GERMANY

9. THANK YOU