Overview of Bitcoin Exchanges

1. Jon Matonis
Founding Director
Bitcoin Foundation
Bitcoin Exchanges:
State of the Market
2015

2. Why Is Bitcoin
Important?

3. “MoIP”: Money over Internet Protocol

4. Bitcoin Network Computational Power

5. Bitcoin Has Controlled Supply

6. Bitcoin Transaction Volume

7. Why Are
Bitcoin
Exchanges So
Important?

8. XBT: Proposed ISO 4217 Currency Code

9. Foreign Exchange Data Feeds Quoting XBT

10. Benefits of Bitcoin Exchanges
● Stability - Increased liquidity reduces
price volatility
● Access - Exchanges provide a bridge
from national fiat currencies
● Risk Management - Exchanges with
margin trading, futures, or options
provide critical hedging opportunities

11. Bitcoin
Exchange
Statistics

12. Current Leading Bitcoin Exchanges

13. Exchange Volume (Annual)

14. Exchange Volume (Monthly)

15. Exchange Volume Distribution

16. Record Day October 30th, 2015

17. Daily Bitcoin Trading Volume

18. Bitcoin Derivatives Exchanges
● Orderbook
● BitMEX
● LedgerX
● Crypto Facilities
● SolidX Partners
● TeraExchange
● Alt-Options
● Bitnomial
● Cryex
● Coinut
Bitfinex
Magnr
Futures/Options Margin Trading

19. OrderBook

20. BitMEX

21. What Does The
Future Look
Like?

22. It’s All About Liquidity

23. Future Prospects
● Business models for value transfer that exploit the
Bitcoin Blockchain will become prominent
(Epiphyte, Abra, Align Commerce)
● Private blockchains, such as the bank trials, will
begin to realize that the unparalleled security of
the Bitcoin Blockchain is critical to their success

24. Market Capitalization

25. Impact on Bitcoin Exchanges
● More distinct lines drawn between leading global
exchanges versus local/regional exchanges
● Sophisticated operators enter the space expanding
the product offering to include various derivatives,
such as futures, options, and swaps
● Evolution towards a collateralized broker/member
model to better manage counterparty risk

26. Leading
Bitcoin Price
Indices

27. CoinDesk BPI (Bitcoin Price Index)

28. Bitcoin Price Indices
● CoinDesk BPI
● TradeBlock XBX
● BitcoinAverage
● WinkDex

29. The Future

31. Thank You!
Twitter: @jonmatonis
Email: matonis@gmail.com