Bitcoin Backgrounder. Overview of Bitcoin history.

1. & VIRTUAL CURRENCIES

2. • 100
Virtual Currencies with Total Market Cap of
$9.4 Billion
• 11
Virtual Currencies with value over $10 billion
• 5
Virtual Currencies with Market Cap in excess
of $50M.
• 4
Virtual Currencies with volume over $1 million
• 2
Virtual Currencies with Market Cap of $1B+
• 1
Amazon currency
–

3. 2009
 Bitcoin launched
2010-2011
 First real Bitcoin transaction
 10,000 BTC for pizza
(today worth $8 million)
 First Bitcoin currency
exchange established
 Time Magazine article sparks
interest
 WikiLeaks begins accepting
donations in Bitcoins
Silk Road begins accepting Bitcoin

4. 2012
 Bitcoin Foundation founded
 First Bitcoin bank opens
2013
 BitPay, a startup that helps merchants
accept Bitcoins becomes one of first
Bitcoin startups to raise significant
investment capital
 Market cap reaches $1 Billion
 Forbes columnist Kashmir Hill spends
week living on Bitcoin
 Silk Road Shut Down
 California dealer sells Tesla for 91.4
Bitcoins
 Canadian lists house on market for
Bitcoins
 First Bitcoin ATMs

7. MT GOX – Bitcoin Exchange
 Launched 2010. By 2013 – handled
70% of all Bitcoin transactions
 May 2013 – Department of
Homeland Security seizes funds from
Mt. Gox’s US account for operating
as an unregistered money
transmitter. Obtained license the
following month.
 Jan 2014 – Announced almost
750,000 of its customers' bitcoins,
and around 100,000 of its own
bitcoins, totaling around 7% of all
bitcoins, and worth around $473
were missing.
 March 2014 - Mt. Gox filed for
bankruptcy

8. • a "turning point" for
the virtual currency -
Mt. Gox CEO Mark
Karpeles
• an "MF Global“
moment - Marc
Andressen
• the beginning of the
end of Bitcoin

9. DOGECOIN SOARS FROM
MT GOX FALLOUT AND
PRESS FROM RAISING
MONEY TO FUND
JAMAICAN BOBSLED TEAM
First 100 Days =
Bitcoins First 1000
Days