This Slide refers to a quick Understanding of Bitcoin/Cryptocurrency. The purpose to prepare is different but this slide can help ones in better understanding than other presentation.
2. AGENDA :
1. What is Cryptocurrency?
2. List of Cryptocurrency Coins?
3. Understanding of Bitcoins?
4. How does Bitcoins works?
5. Bitcoin as Technology?
6. Bitcoin as a Currency?
7. The Characteristics of Bitcoins?
8. Security of Bitcoin?
9. Adopting Bitcoin Technology?
10. Future of Bitcoins?
11. Questions???
12. Facts
13. Some Important Links.
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4. Cryptocurrency
It is a currency, just like and . But
Cryptocurrency is a decentralized, digital
money created, held and spent electronically
around the world.
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Layman terms :
Technically terms :
Bitcoin became the first decentralized cryptocurrency in 2009.
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Cryptocurrency is an Internet-based medium of exchange distinct
from physical (such as Banknotes and coins) that exhibits properties
similar to physical currencies, but allows instantaneous and
borderless transfer-of-ownership.
¥ ₹$
5. List of Cryptocurrencies
• According to Coinmarketcap latest data report there are approx. 717 Crypto-coins available for trade
in online market but only 26 of them had market capitalizations over $10 million at time.
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8. 8
How does Bitcoin works
X Y ✓ Balances - Blockchain
- The block chain is a shared public ledger on which
the entire Bitcoin network relies. All confirmed
transactions are included in the block chain. This
way, Bitcoin wallets can calculate their spendable
balance and new transactions can be verified to be
spending bitcoins that are actually owned by the
spender.
✓ Transactions - Private Keys
- A transaction is a transfer of value between Bitcoin
wallets that gets included in the block chain.
✓ Processing - mining
- Mining is a distributed consensus system that is
used to confirm waiting transactions by including
them in the block chain. To be confirmed,
transactions must be packed in a block that fits very
strict cryptographic rules that will be verified by the
network.
➡ Mining
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Unocoin, the first bitcoin trading platform in India,
is now the leading Bitcoin Company, with 70K +
users, 6k + freelancers and 25+ online merchants
using the bitcoin services provided.
Coinsecure is a bitcoin exchange based in India.Also
working on building Blockchain (database)
ecosystem
LocalBitcoins is a bitcoin startup company based in
Helsinki, Finland. Its service facilitates over-the-
counter trading of local currency for bitcoins.
https://www.unocoin.com/
https://coinsecure.in/
https://localbitcoins.com
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Pros : Cons :
1. Free to trade.
2. Low transaction fees.
3. No central Authority therefore no tax
applicable.
4. Transparent & Decentralized
(neutral) System.
5. Control & security.
6. The supply of bitcoins cannot be
manipulated by any government,
bank, organization, or individual
7. Each and every single transaction is
validated/invalidated by miners.
My Conclusion:
• Looking at the current revolution of Bitcoin, it seems it has Bright Future.
• Many Countries has already accepted and many still in process.
1. Lack of awareness &
understanding.
2. Risk & volatility.
3. Unpredictive currency fluctuation.
4. Still Developing
5. Wallet protection and security.
6. Black Market Activity May Damage
Reputation and Usefulness
7. No Chargebacks or Refunds
21. 21
Facts
1. Bitcoin Price as of 17-Jan is $900 USD +/-.
2. Reward for finding block 25.
3. Mining will be difficulty.
4. Total 21 Millions of Bitcoins will be generated out of which 16 Million Bitcoins are in circulation
already. Only 5 Million Bitcoins is available to be generated in future.
5. After Demonetization, Indian investors are ready to invest in Bitcoins approx. $1.2 Billion USD.
6. Dollars are moving fast into Bitcoins per day.
7. Total numbers of Blocks so far is 269,632.
8. Awareness of bitcoin in INDIA has reached its highest level ever according to Google trend searches.
9. Bitcoin Currency has just grew from $0.003 USD to $1146 USD.
