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Crypto Currency - Lakshmi "BOOM" or "DOOM"

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Crypto Currency - Lakshmi "BOOM" or "DOOM"

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An article on the introduction of Crypto currency and its scope of market.

For further details watch the following videos to get a better idea
https://www.youtube.com/watch?v=M_zCjjy59cg
https://www.youtube.com/watch?v=s4g1XFU8Gto
https://www.youtube.com/watch?v=GmOzih6I1zs

An article on the introduction of Crypto currency and its scope of market.

For further details watch the following videos to get a better idea
https://www.youtube.com/watch?v=M_zCjjy59cg
https://www.youtube.com/watch?v=s4g1XFU8Gto
https://www.youtube.com/watch?v=GmOzih6I1zs

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Crypto Currency - Lakshmi "BOOM" or "DOOM"

  1. 1. Group 5 Jaswanth Evangeline Maharaj 0
  2. 2. WHAT IS CRYPTO CURRENCY? • A medium of exchange. Ex: USD, Rupee, etc • Designed for the purpose of exchanging digital information through a process (by principles of cryptography) • Cryptography is used to secure the transactions and to control the creation of new coins 1
  3. 3. DIFFERENT TYPES OF CRYPTO-CURRENCY 2
  4. 4. 3
  5. 5. WHAT IS BITCOIN? • Bitcoin is a currency created in 2009 • By an unknown person using the alias Satoshi Nakamoto • Transactions are made with no middle men • No transaction fees and no identity 4
  6. 6. WHAT IS BITCOIN MINING? • The process by which transactions are verified and added to the public ledger, known as the block chain • The means through which new bitcoin are released • The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. 5
  7. 7. MINING 6
  8. 8. FEATURES OF BITCOIN • All-electronic & Fast transactions • Low-cost transactions • Divisible down to 0.00000001 BTC • No third-party trust required • Uncontrollable (Decentralized) • No double-spending • Some anonymity (pseudonymity) • Inflation resistant • Deflationary (Maximum of 21M issued) • International • Widely accepted as a currency • Central governments can’t take it away • You can create your own money 7
  9. 9. DISADVANTAGES • Degree of acceptance • Volatility • Ongoing development • Possible Government Interference • Lack of resource • Money Laundering/Black Market 8
  10. 10. ALTCOINS • Litecoin • Feathercoin • Namecoin • PPCoin/Peercoin • Zerocoins • Mastercoin • Quark • Devcoin • Dogecoin • Terracoin • Bytecoin 9
  11. 11. DOOM AND GLOOM • Some people say Bitcoin is not a currency and is doomed to fail • Almost everyone predicting the downfall of Bitcoin doesn’t really understand bitcoin • The arguments generally fall into the following categories 10
  12. 12. 11 DOOM • Some people say Bitcoin is not a currency and is doomed to fail • Almost everyone predicting the downfall of Bitcoin may not really understand bitcoin GLOOM OR
  13. 13. CONTEMPLATING CHANGE • Bitcoin legal in India (2013) • RBI to launch “LAKSHMI” • Discomfort with foreign bitcoins 12
  14. 14. 13 THANK YOU

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