Basic of bitCoin

1. BitCoin
Digital Currency
Presented By: Venu
Assistant Professor
Department of Computer Science

2. What We are discussing
Introduction To Bitcoin
How The Value Of Bitcoin Is Defined?
How Do I Create A Bitcoin Wallet?
How To Buy And Sell Bitcoin?
How To Send Bitcoin
How To Receive Bitcoin?
How Does A Bitcoin Exchange Work?
How A Convential System Exchgange Occur?
What Is Bitcoin Mining?

3. SATOSHI NAKAMOTO INVENTED BITCOIN
BITCOIN, BY CONTRAST, IS AN OPT-IN CURRENCY
THAT IS CONTROLLED BY THE 'CONSENSUS' OR THE
WILL OF ITS USERS.
Bitcoin is a new type of digital money and, just like with all money,
you can store it, exchange it, and make payments with it.
It use decentralized infrastructure to make transactions on a
peer-to-peer basis and to store value independently of any
government, company, or financial institution.
BITCOIN

4. Thanks to its features, some people find it useful as a way to
store and exchange value.
Because a group of people agree it has value.
Bitcoin has value for two key reasons:
1.
2.
Historically, people have used everything from seashells to bottle
caps as money, but arguably the most enduring form of money is
gold. Why?
Bitcoin is often compared to gold
Value of
Bitcoin
BITCOIN
21
MILLION

5. WazirX.
Zebpay.
Coinbase.
Unocoin.
Trust Wallet.
A Bitcoin wallet is a tool for interacting with
the Bitcoin network. Use it to buy, sell, send,
receive, and trade bitcoin. Making a Bitcoin
wallet is as easy as downloading an app.
Some of Apps are:
Bitcoin
Wallet

6. Sending &
Receiving Bitcoin
Sending bitcoin is as easy as choosing the amount and deciding
where it goes
Receiving bitcoin is a simple matter of providing the sender with your
Bitcoin address.
Most Bitcoin invoice addresses are 34 characters
made up of random numbers and letters

8. How
BitCoin
Exchange
work
Bitcoin exchange is the process of trading bitcoin for
local currencies, goods or services, or other
cryptocurrencies. Your options range from peer-to-
peer exchange to giant centralized exchange services
that resemble a stock trading account.

9. Before Discussing the Bitcoin
exchange first, we will study
how a conventional online
transaction takes palce.

16. Bob's
Bitcoin
Wallet
Simplified Process with Bitcoin
Selly's
Bitcoin
Wallet
After receiving Money Selly Sends the suit to bob

17. Bitcoin Mining
The process of 'minting' (creating) new
bitcoins,
Bitcoin mining is the process by which
new bitcoins are entered into
circulation; it is also the way that new
transactions are confirmed by the
network and a critical component of
the maintenance and development of
the blockchain ledger. "Mining" is
performed using sophisticated
hardware that solves an extremely
complex computational math problem
Mining is also critical for
ensuring the security of the network.

18. At present, there is no legislature that covers cryptocurrecies
in India. However, that does not make cryptocurrency illegal in
the country. It simply indicates that there is no regulatory
framework to safeguard cryptocurrency owners in the country
BitCoin is Legal or illegall?
There are no set rules or international stadards for bitcoins . its legallity is defined by
the country you are living in.
El Salvador became the first country to use bitcoin as legal tender, other developed
nations like USA, U.K. CANADA, Japan also uses the Bitcoin
In some countries like China. China was at one point home to the world's largest
number of Bitcoin miners. but now it is banned the use of cryptocurrency
likeBangladesh,Russia, Egypt, Morocco, Nigeria etcc

19. Mining pool Foundry USA is the top bitcoin miner in the world and
it uses
over 40,000 mining machine.
Around 20% of Bitcoin has been
lost forever
There have been 668 million Bitcoin transactions
The last Bitcoin will be mined in
2140
A pizza purchase was the first
commercial Bitcoin transaction

20. Thank you