SlideShare ist ein Scribd-Unternehmen logo
BY: KUMARI PUJA
140617672003
MBA 1A (2017-19)
1
INRODUCTION
2
This presentation is made under MBA
Academic Project. The objective of this
presentation is to enable the audience
and viewers gain overall idea about what
is Bitcoin, how does it come into
existence, what is Bitcoin mining, he
market trends, legality and uses of Bitcoin
and if it is feasible to invest in Bitcoin or
not. The project explains topic by means
of graph, diagram, video etc collected
from various sources and made from
primary data too.
INDEX
Basics and Features…………………………………..….4
Timeline ………………………………………………..….6
How Bitcoins work?......................................................7
Bitcoin Mining…………………………………….……….9
Bitcoin Statistics…………………………………………12
Bitcoin Companies ……………………………………...16
Pros ………………………………………………………18
Cons……………………………………………………....19
Should we Invest in Bitcoins ?.....................................21
Other Crypto-currencies…………………………………23
3
asics
4
( Click on the
video  )
Features
 Crypto currency  Cryptography
 Decentralized  P2P
 Anonymous  Encryption
 Transparency  Distributed Public Leger
 Fast and easy  No central authority and
complex procedure
 Infinitely Divisible  Currently supporting eight
decimal places. 0.00000001
Bitcoin is known “Satoshi”.
 Voluntary and free to join
5
Timeline of Bitcoin
2008: Satoshi
Nakamoto Publishes
Bitcoin white paper
2009: Bitcoin
software made public
and mining process
started and recorded
in block chain
2010: First trade:
10000 BTC spent on
buying two pizzas
2011: Hike in value of
Bitcoins. Rival Crypto
currencie emerged
like Namecoin and
Litecoin.
2012: First Exchange
Buysellbitcoin
launched in India by
Mahin Gupta
2013: Bitcoin price
crashed from 1000
USD to 300 USD
2014: Bitcoin
exchange Mt. Cox
was hacked and
850000 BTC stolen
worth of 450 USD
then value
2014: Chinese banks
closed BTC
exchanges by 2015
2014: Companies
like Dell, Microsoft,
PayPal and others
started accepting
BTC as legal tender
2015: Bitstamp
Hacked.5.2 Million
USD
2015: Bitcoin
declared as
commodity by US
Regulators
2017: Japan
declared BTC as
legal tender
6
How Bitcoins work?
7
8
Bitcoin Mining
How can Bitcoin be obtain
Bitcoin?
1. Purchase Bitcoin in
exchange of currency.
2. Receive Bitcoins for any
transaction.
3. Bitcoin Mining : Process of
extracting Bitcoins by
verifying the transactions
through Bitcoin mining
software. This ads the
block to the Block chain
which results in
occurrence of transaction.
The reward for same is
earned in form of Bitcoins.
9
But Mining is not Easy…
It’s a measure of how difficult is to find a hash below the target
value.
10
Bitcoins are limited to 21 Million
- Satoshi Nakamoto had designed Bitcoins to limit the issuance to
21 millions.
- This feature is embedded in the protocol and is immutable as the
BlockChain itself.
- The reason for limitation is to create scarcity in order to make it
deflationary. This 21 millionth coin will arrive in 2140.
Will there be no BTC mining
after 21 million coins are extracted?
No. There still be Bitcoin
mining process in order to
maintain the public ledger.
However the reward would
now be the transaction fees
11
Bitcoin Statistics
12
Market Value of Bitcoin
13
14
Number of Transactions
4643117
8294913
8875285
8356733
10061195
8071385
7183759
7765430
7345502
8987745
9180191
11187866
4665609
0
2000000
4000000
6000000
8000000
10000000
12000000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2017 2018
NumerofTransaction
Time
15
154.9619
598.5515
1208.6056
1714.894975
2071.266575
2371.712125
2610.330275
2862.452675
3005.796975
100.732575
0
500
1000
1500
2000
2500
3000
3500
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Millions
Years
Total Bitcoins Mined
BITCOIN COMPANIES
16
Bitcoin is not just
one commodity
but also has
created scope for
other market
player to come up
and create need
want and demand
for their services
and products
17
PROS
18
CONS
Disadvant
ages of
Bitcoin
Highly
Volatile Non-
traceability
allows
Illicit
Activities
Unsecure
due to
Hacking
Non
Reversibili
ty
Low
awarenes
s
High
Power
Consumpt
ion
19
Electricity and
hardware required
for mining
20
Should We Invest in Bitcoin
21
What's the objective of our Investment?
Just profit earning or the earrings wherein you have some influence? Or tax
Saving?
Crypto currency has highest risk and highest earning
When any investment fluctuates about and above 30%, Its highly risky.
Government discourages for investing in Bitcoins. Coz it is being used in black
market, money laundering, etc. With no central or any authority to answerable to
the losses.
Never invest more than you are willing/able to lose. Buy through average price
over time
Buy Bitcoins only from exchanges that have prove their reputation
Bitcoin is not a currency. IRC has considered it as property. Any capital gain is
taxable. FEMA 1999, RBI Act 1934, other acts are applicable.
22
Lets Check out
What Business
icons have
opinion on Bitcoin
Other Crypto currencies
Ethereum – Ethereum is the second most famous name in the virtual currency market.
It somewhat similar to the concept of bitcoins however it possesses some additional
attributes. It is purely a blockchain based platform. What makes it special is the
Ethereum Virtual Machine. The blockcain in ethereum is used not to store the data of
the transaction but to make sure smooth run of a decentralized application.
Ripple – Ripple is more in the nature of a payment protocol created and developed by a
company named Ripple, which is based on the concept of Real time Gross Settlement.
It was initially released in the year 2012.
NEM – Similar to bitcoin, NEM is also a peer-to-peer blockchain platform launched in
the year 2015. It uses the unique Proof-of-Importance algorithm , a way to validate
transactions and achieve the distributed consensus.
Litecoin – Initially introduced in the year 2011, litecoin is mostly identical to bitcoin.
What makes it stand out is the use of Segregated Witness and the Lightning Network.
23
CONCLUSION
24
Bitcoin is a unique creation of value that has
been changing the way of transacting round
he globe. An industry has grown around
Bitcoins in India- traders, exchanges and
merchants who accept payments in Bitcoins.
Bitcoins have already gained wide
acceptance around the world. Indi should
also move ahead with Crypto currency.
However, here nee to be a regulatory
mechanism to check on the identify of
Transacting Parties in order to protect the
economic interest and security of nation.
Bibliography
Websites:
www.liveBTCPrice.com
www.theGuardian.com
www.coindesk.com
www.bitcoinsfuture.com
www.99bitcoins.com
www.buybitcoinworldwide.com
www.ccn.com
www.investopedia.com
www.forbes.com
Google images search engine
Bitcoins India Report 207 by Vinod Kothari Consultants
25
THANK YOU !!!
To know more about Bitcoin, you can check
out following websites and apps:
Zebpay Cryptocurrency Exchange App
Bitcoin Map App
Coindesk.com
26

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Bitcoin

  • 2. INRODUCTION 2 This presentation is made under MBA Academic Project. The objective of this presentation is to enable the audience and viewers gain overall idea about what is Bitcoin, how does it come into existence, what is Bitcoin mining, he market trends, legality and uses of Bitcoin and if it is feasible to invest in Bitcoin or not. The project explains topic by means of graph, diagram, video etc collected from various sources and made from primary data too.
  • 3. INDEX Basics and Features…………………………………..….4 Timeline ………………………………………………..….6 How Bitcoins work?......................................................7 Bitcoin Mining…………………………………….……….9 Bitcoin Statistics…………………………………………12 Bitcoin Companies ……………………………………...16 Pros ………………………………………………………18 Cons……………………………………………………....19 Should we Invest in Bitcoins ?.....................................21 Other Crypto-currencies…………………………………23 3
  • 4. asics 4 ( Click on the video  )
  • 5. Features  Crypto currency  Cryptography  Decentralized  P2P  Anonymous  Encryption  Transparency  Distributed Public Leger  Fast and easy  No central authority and complex procedure  Infinitely Divisible  Currently supporting eight decimal places. 0.00000001 Bitcoin is known “Satoshi”.  Voluntary and free to join 5
  • 6. Timeline of Bitcoin 2008: Satoshi Nakamoto Publishes Bitcoin white paper 2009: Bitcoin software made public and mining process started and recorded in block chain 2010: First trade: 10000 BTC spent on buying two pizzas 2011: Hike in value of Bitcoins. Rival Crypto currencie emerged like Namecoin and Litecoin. 2012: First Exchange Buysellbitcoin launched in India by Mahin Gupta 2013: Bitcoin price crashed from 1000 USD to 300 USD 2014: Bitcoin exchange Mt. Cox was hacked and 850000 BTC stolen worth of 450 USD then value 2014: Chinese banks closed BTC exchanges by 2015 2014: Companies like Dell, Microsoft, PayPal and others started accepting BTC as legal tender 2015: Bitstamp Hacked.5.2 Million USD 2015: Bitcoin declared as commodity by US Regulators 2017: Japan declared BTC as legal tender 6
  • 8. 8
  • 9. Bitcoin Mining How can Bitcoin be obtain Bitcoin? 1. Purchase Bitcoin in exchange of currency. 2. Receive Bitcoins for any transaction. 3. Bitcoin Mining : Process of extracting Bitcoins by verifying the transactions through Bitcoin mining software. This ads the block to the Block chain which results in occurrence of transaction. The reward for same is earned in form of Bitcoins. 9
  • 10. But Mining is not Easy… It’s a measure of how difficult is to find a hash below the target value. 10
  • 11. Bitcoins are limited to 21 Million - Satoshi Nakamoto had designed Bitcoins to limit the issuance to 21 millions. - This feature is embedded in the protocol and is immutable as the BlockChain itself. - The reason for limitation is to create scarcity in order to make it deflationary. This 21 millionth coin will arrive in 2140. Will there be no BTC mining after 21 million coins are extracted? No. There still be Bitcoin mining process in order to maintain the public ledger. However the reward would now be the transaction fees 11
  • 13. 13
  • 16. BITCOIN COMPANIES 16 Bitcoin is not just one commodity but also has created scope for other market player to come up and create need want and demand for their services and products
  • 17. 17
  • 19. CONS Disadvant ages of Bitcoin Highly Volatile Non- traceability allows Illicit Activities Unsecure due to Hacking Non Reversibili ty Low awarenes s High Power Consumpt ion 19 Electricity and hardware required for mining
  • 20. 20
  • 21. Should We Invest in Bitcoin 21 What's the objective of our Investment? Just profit earning or the earrings wherein you have some influence? Or tax Saving? Crypto currency has highest risk and highest earning When any investment fluctuates about and above 30%, Its highly risky. Government discourages for investing in Bitcoins. Coz it is being used in black market, money laundering, etc. With no central or any authority to answerable to the losses. Never invest more than you are willing/able to lose. Buy through average price over time Buy Bitcoins only from exchanges that have prove their reputation Bitcoin is not a currency. IRC has considered it as property. Any capital gain is taxable. FEMA 1999, RBI Act 1934, other acts are applicable.
  • 22. 22 Lets Check out What Business icons have opinion on Bitcoin
  • 23. Other Crypto currencies Ethereum – Ethereum is the second most famous name in the virtual currency market. It somewhat similar to the concept of bitcoins however it possesses some additional attributes. It is purely a blockchain based platform. What makes it special is the Ethereum Virtual Machine. The blockcain in ethereum is used not to store the data of the transaction but to make sure smooth run of a decentralized application. Ripple – Ripple is more in the nature of a payment protocol created and developed by a company named Ripple, which is based on the concept of Real time Gross Settlement. It was initially released in the year 2012. NEM – Similar to bitcoin, NEM is also a peer-to-peer blockchain platform launched in the year 2015. It uses the unique Proof-of-Importance algorithm , a way to validate transactions and achieve the distributed consensus. Litecoin – Initially introduced in the year 2011, litecoin is mostly identical to bitcoin. What makes it stand out is the use of Segregated Witness and the Lightning Network. 23
  • 24. CONCLUSION 24 Bitcoin is a unique creation of value that has been changing the way of transacting round he globe. An industry has grown around Bitcoins in India- traders, exchanges and merchants who accept payments in Bitcoins. Bitcoins have already gained wide acceptance around the world. Indi should also move ahead with Crypto currency. However, here nee to be a regulatory mechanism to check on the identify of Transacting Parties in order to protect the economic interest and security of nation.
  • 26. THANK YOU !!! To know more about Bitcoin, you can check out following websites and apps: Zebpay Cryptocurrency Exchange App Bitcoin Map App Coindesk.com 26